CGCC and EY Hosted “Tax Cuts and Jobs Act (TJCA) Update for Chinese Inbound Companies” Training in Chicago

On March 27, China General Chamber of Commerce – USA (CGCC) and EY hosted “Tax Cuts and Jobs Act (TJCA) Update for Chinese Inbound Companies” at EY Chicago office. Xiaoming Zou, Commercial Counsellor of Consulate-General of the People’s Republic of China, was addressed at the event. Seasoned professionals from EY China Oversea Investment Network (COIN) led the training and discussion. Over 40 representatives from more than 20 CGCC member companies attended this event, including Bank of China-Chicago Branch, Wanda, CRRC Sifang America, Jiusan/CJS Trading Co., Hainan Airlines North America, ZTE USA Inc. COFCO International, Hepalink USA Inc., C&D Inc., CIMC Leasing USA Inc., etc.

The training aimed at keeping Chinese companies current on the key provisions of the TCJA that will impact their inbound activities and helping them identify steps that should be taken to plan for/mitigate the impact of certain of the TCJA provisions. The training has also covered the recent developments in global trade, focusing on the latest trade remedies (i.e. sections 201, 232 and 301) imposed by the US government, as well as their potential implications on Chinese companies in the US. 

The training was well received by the participants. Participants expressed that the training offered insights into TJCA and its impact on Chinese inbound companies, which are directly applicable to their companies.

Special thanks to Consulate General of the People’s Republic of China in Chicago, for their support for this event, especially to Commercial Counsellor Zou Xiaoming for attending this training and for his insightful remarks. Special thanks to EY COIN team for their efforts in organizing the training. All of them helped CGCC become a resourceful and influential not-for-profit organization serving US-China business communities.