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Tax Insights

2018-06-30
821 | 42 | 5

Argentina’s biggest supermarket chain “COTO” finally makes its first step into China


Founded in 1970 by the COTO family, the brand COTO has been the most influential supermarket chain in Argentina and around South America. The commodities sold by the mega supermarket chain comprise of food, beverages, electronic technology, household appliances and others. For more international expansion, COTO is now committed to introduce its products into the Chinese market.


After a year of procedures and inspections, COTO, finally establishes its first entity in Shanghai Free-Trade Zone, China with the assistance of RTF. Their company’s business license was issued by the China (Shanghai) Pilot Free Trade Zone authorities on March 22, 2018. 


With COTO’s case, our project team (Ms. Wang Yanan, Managing Director, Ms. Cheng Lixue and Ms. Jiao Linzhi) had the opportunity to meet up with Mr. Diego Ramiro Guelar, Argentina’s Ambassador in China; Mr. Esteban Pronato, Consul of the Consulate General of Argentina in Shanghai; and Mr. Leandro Compagnucci, Director of Argentina’s Economic and Commercial Department in China, to discuss about COTO’s establishment and future growth in China. For them and for all Argentina, having COTO entering the Chinese market is of revolutionary significance and a benchmark for the Argentina’s enterprises in China. That is why they offered to provide full support, where necessary, for COTO’s rapid and successful development in China. They also have the big anticipation that COTO will even create deep cooperation with China’s e-commerce giants such as Alibaba. 

 

RTF has the privilege to be part of COTO’s subsidiary establishment in China, where our experts are in charge of assisting COTO in its financial and taxation needs and in its rapid and efficient development in China.  RTF also hope to assist more companies from Argentina and South America to establish a presence in China.  Our experts can provide all the required insight, in terms Chinese company laws, taxation, foreign exchange and so on for the first step into China. RTF is more than ready to promote business ties and development between our two countries.





Nancy Wang

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Project Director

nancy.wang@rtfcpa.com

Lixue

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Senior Business Consultant

chenglixue@rtfcpa.com

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