Fan Zhang serves in ICC Working Group on EU Foreign Subsidies Regulation to Address Global Compliance Challenges
On January 8, 2025, the International Chamber of Commerce (ICC) convened the inaugural meeting of the Working Group on the EU Foreign Subsidies Regulation (FSR), bringing together legal experts, corporate representatives, and regulatory specialists to discuss the practical impact of the FSR (Regulation (EU) 2022/2560) on international business operations.
Lawyer Fan Zhang, Director of the Foreign Legal Affairs Department at JINGSH Chengdu, has been officially appointed as a member of the ICC FSR Working Group, reflecting her recognized expertise in cross-border compliance and international regulatory affairs.
Key Concerns Discussed at the Meeting
During the meeting, participants expressed significant concerns regarding the current FSR disclosure requirements, particularly:
- The risk of excessive filing burdensbeing imposed on companies that are not the primary targets of the regulation;
- The need to ensure that domestic tax measures of general application—those applying uniformly to all taxpayers—are clearly exemptedfrom notification obligations, consistent with the European Commission’s stated guidance.
Members also emphasized the importance of providing greater clarity and practical interpretative guidance to businesses navigating FSR compliance.
Proposal for Collective Action
In response to these challenges, the Working Group proposed to draft and submit a consolidated FAQ to the European Commission, highlighting practical difficulties and requesting further clarification on key aspects of FSR implementation.
Lawyer Fan Zhang’s participation demonstrates her deep understanding of cross-border regulatory risk management and her commitment to supporting international legal harmonization efforts.
Advancing Thought Leadership in Global Compliance
“Engaging early in the international dialogue on the Foreign Subsidies Regulation ensures that businesses’ practical concerns are heard and addressed,” said Lawyer Fan Zhang.
“We will continue to monitor developments and provide strategic insights to help companies navigate evolving global compliance standards.”
As foreign subsidy scrutiny increases within the EU, participation in international working groups like the ICC FSR initiative positions Fan Zhang and JINGSH Chengdu at the forefront of global regulatory adaptation and advocacy.
