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Jack Cheung
Partner, Audit, China Country Practice Head, KPMG AG Wirtschaftsprüfungsgesellschaft

 

Andreas Feege
Partner, Audit, Seconded Partner bei KPMG China, KPMG AG Wirtschaftsprüfungsgesellschaft

Shanghai

Based on the expertise of KPMG's Country Practice China in Germany, you will regularly receive the latest news, information material and publications on issues regarding the Chinese business market.

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Current issue

In recent months, China has returned to normal after the massive covid lockdowns. But the zero-corona strategy is still affecting economic strength, supply chains and consumer spending. However, a positive mood and hope is spreading again, also thanks to looser quarantine and visa regulations for travellers to China.

For many companies, the latest developments have led to a wake-up call to take a closer look at their China activities. Reports from the German and European chambers of commerce show increasing scepticism and reluctance to invest. The German government, led by the Foreign Ministry, will also have developed its new China policy by early next year. Given the vulnerability and blackmailability identified in the recent past by individual countries, especially Russia, a time seems to have dawned when foreign companies in China are also scrutinising their strategy and dependencies.

In order to assess the risks and develop a modified positioning, China competence and expertise is in demand, which continues to dwindle in the face of more and more expats fleeing China and business trips to China coming to a virtual standstill. So far, Europe has paid too little attention to the motives and goals of the Chinese government, the communist party and its "systemic rival". Quite in contrast to China, which has wanted to become independent for a long time and has carefully analysed its partners abroad.

With this newsletter, we hope to again contribute to the gathering of information, objectification and better decision-making and wish you an interesting read and, if applicable, a good rest on your holiday!

KPMG China Newsletter – August 2022

Current topics of the issue:

  • China Economic Monitor Q2 2022
  • What geopolitical disruptions and the decoupling of the global economy mean for German companies
  • Practical guidelines for managing cross-border data transfer in China
  • Imminent, Challenging & Mandatory – The Opening Moves
  • Levelling Up: China's Race to an autonomous future

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