Zilmet Jiaxing Grand Opening

On October 29th, 2025, the new Zilmet Jiaxing Plant officially opened in the Jiaxing Nanhu High-Tech Zone, marking an important milestone for the Italian group UGO BENETTOLO S.p.A. and for the strengthening of industrial cooperation between Italy and China.

The new facility, covering 15,000 square meters and built with a total investment of USD 45 million, is equipped with advanced production lines for expansion tanks and plate heat exchangers, reinforcing Zilmet’s position as a global leader in high-end pressure vessel manufacturing.

The opening ceremony was attended by Zilmet Group President Paolo Benettolo, Zilmet Jiaxing Executive Director Marco Gottardello, Consul General of Italy in Shanghai Tiziana D’Angelo, institutional leaders from Jiaxing City and Nanhu District, and representatives from leading companies such as Bosch, Haier and Vanward.

CPO & Partners, which has supported Zilmet throughout its establishment and operations in China, is proud to share this important achievement and to continue assisting Italian companies in their international expansion projects.

Congratulations to Zilmet for this new chapter of growth and innovation in China.

Italy Monza Event – Industrial Park Zhaoqing

The delegation of the Zhaoqing Industrial Park presented its investment opportunities at the Sporting Club in Monza, during a meeting that brought together Italian entrepreneurs and companies interested in strengthening ties with China.
The event concluded with a buffet dinner, providing a valuable occasion for networking and direct exchange between the Chinese delegation and Italian business representatives.
An initiative that highlights the importance of dialogue and international cooperation, opening new perspectives for collaboration between the two countries.

Zhaoqing Delegation visiting CPO & Partners

On September 23rd, 2025, the delegation of the Zhaoqing Industrial Park visited the Italian headquarters of CPO & Partners in Monza and later the ICCF office in Milan, on the occasion of the presentation of the opportunities offered by their industrial park.
An important exchange fostering dialogue between Italy and China and opening new perspectives for international cooperation.

China 2025–2028 Tax Credit Policy for Foreign Investors’ Reinvestment of Profits

On 27 June 2025, China’s Ministry of Finance, State Taxation Administration, and Ministry of Commerce jointly issued Announcement [2025] No. 2, regarding a 10% enterprise income tax credit that can be claimed by eligible foreign investors who reinvest profits (e.g., dividends, interest, royalties or other kind of income) in specified sectors. The policy applies from 1 January 2025 to 31 December 2028, with retroactive eligibility for qualifying investments made after 1 January 2025.

To qualify, reinvestments must be in industries listed in the Encouraged Industries Catalogue and take the form of capital increases, new enterprises, or equity acquisitions from unrelated, non-listed parties. Among those Encouraged Industries are agriculture, mining, manufacturing, construction, transport, IT, finance, R&D and others. The holding period of investment must be at least five years, and investments must be paid directly from the distributing enterprise to the investee. In addition, early withdrawal triggers tax repayment and proportional claw back of tax credits, and compliance is managed through the Ministry of Commerce’s Unified Platform.

CPO & Partners at the ICG European & Asia Integration Meeting | Madrid, 8 July 2025

A day dedicated to international cooperation and strategic dialogue across continents.

The 2nd European & Asia Integration Meeting, hosted by the International Consulting Group in Madrid, brought together professionals from Europe, Asia and Latin America to reflect on today’s global challenges and explore joint solutions in legal, tax and business consultancy.

CPO & Partners contributed with updates on current initiatives in China, including business missions, industrial park partnerships and cross-border investment strategies—demonstrating once again the relevance of building strong, practical bridges between distant markets.

Grateful to ICG and all participants for the enriching discussions and shared vision. Looking forward to future collaborations.

CPO Visits Jiaxing with Lawyer Moschetti

On 17 June 2025, representatives of CPO visited several industrial parks in the city of Jiaxing, not far from Shanghai, alongside Lawyer Giovanni Moschetti, partner of Law Firm Francesco Moschetti, tax, criminal tax and international tax experts, located in Padova (Italy) for more than 50 years.

The day began with a visit to the Pinghu Economic and Technological Development Zone, an industrial park located in the county-level city of Pinghu, part of Jiaxing City in China’s Zhejiang Province. In the afternoon, the delegation moved to Nanhu District, where it held meetings with local government officials from Nanhu District. Discussions focused on cultural exchanges between Italy and China and the incentives the parks can offer to Italian entrepreneurs interested in investing in China.

The presence of Lawyer Moschetti, a professional with over 20 years of experience in tax and legal fields, underscores the growing interest in better understanding China’s landscape and the potential opportunities, both cultural and economic, that can arise from such exchanges.

Future plans are already underway, including delegations of Italian entrepreneurs visiting the toured Parks and cooperation between the two countries to explore and leverage opportunities for economic and cultural exchange.

Award to CPO for Italy-China Cooperation

CPO & Partners has been honored with another prestigious award, following the recent recognition received from Jiaxing Nanhu District. During the ‘Invest in Shanghai – Share the Future’ event held on 10 April in Milan, organized by the Lingang New Area Industrial Park located in Shanghai to promote foreign investments in the Park, CPO was awarded along with other entities as a ‘Bridge for Italy-China Cooperation’.

The recognition acknowledges CPO’s networking activities aimed at introducing Chinese industrial parks to potential foreign investors, serving as a connection bridge and support channel between Italian businesses and Chinese development zones.

CPO & Partners was honored to participate as a guest at the 2025 Jiangsu Nantong Su-Xi-Tong Science & Technology Park Investment Promoting Conference in Shanghai.

An insightful event focused on international cooperation, investment opportunities, and innovation. Grateful for the opportunity to exchange ideas and strengthen business relations between Europe and China.

#CPOPartners #InternationalBusiness #Investment #China #GlobalExpansion

CPO & Partners was awarded the Nanhu District of Jiaxing, Excellent Partner

Last 10 January 2025, a delegation of CPO Shanghai was invited to visit the complex of the People’s Government of Jiaxing City’s Nanhu District, to attend the 2025 Nanhu District Investment Promotion Conference and receive the award of Excellent Partner. On the occasion, at the presence of the authorities representing the District, Mr. Chen Fangtian, Legal Associate, representing CPO, retrieved the award of Excellent Partner, in recognition of the networking activities organized as an investment promotion ambassador of Nanhu District in China and abroad. Last year, CPO and its Joint Venture Dragon Bridge Investment cooperated with representatives from Nanhu to facilitate the introduction of the District as an ideal hub for foreign investors in China.

In particular, CPO was among the sponsors of the event “Destination Yangtze River Delta: Meeting with Jiaxing, Nanhu District”, held in Milan, Palazzo Clerici, on 5 September 2024 with more than 80 participants whose most part were renowned and excellent Italian SMEs, while both CPO and Dragon Bridge Investment sponsored the event “Shanghai and Jiaxing: A New Opportunity”, activity organized in the context of the November 2024 CIIE (China International Import Expo).

This award brings forth a new year sets to build on past achievements and make further progress in the bilateral investment promotion between Italy and China.

Last 15 November 2024, China’s Ministry of Finance and the State Taxation Administration released the Announcement No. 15 on the Adjustment of Export Tax Rebate Policies, effective from 1 December. It is set to impact the future business planning of local and foreign companies involved in export operations from China to foreign countries, especially in terms of higher costs and lower export volumes.

Two different sets of adjustments were introduced on China’s export tax rebate, incentive system started in 1985 through which refunds are given to exporters on VAT and consumption tax (CT) paid before the export of their products abroad. The first set provides for the cancellation of the tax rebate on 59 items, including copper and aluminium products (plates, sheets, bars etc.), chemically modified oils and fats, and other kinds of metals.

The second set includes a reduction of the VAT rebate rate from 13% (which entailed a full refund of VAT on purchases, being 13% in China) to 9% for 209 items. Refined oils, batteries, photovoltaic products are among the affected categories.

Seen since its inception as a strategic policy to improve the competitiveness of exported goods in the international market, the VAT Tax Rebate (出口退税) system allows exporters to recover VAT on goods intended for export, receiving the VAT paid on purchases (in full or in part, based on the specific VAT refund percentage defined for each customs code) directly into the company bank account, in a relatively short time (1-2 months) from the submission of the necessary documentation relating to export. The Tax Rebate system is applicable both to companies that carry out trading activities and to the manufacturing companies, with different application rules.