Bangkok, 23 September 2026 — A delegation from HOUPU Clean Energy Group Co., Ltd. ("HOUPU"), led by Vice President Zou Jianhua and Han Mei, General Manager of its international engineering equipment company, visited the China Chamber of Commerce in Thailand to discuss establishing a local presence, opportunities in Thailand's energy market, and on-the-ground compliance. Mou Jianglin, Secretary-General of the Chamber, attended together with representatives of member organizations including Bank of China (Thai) PCL and Sinopec. Dong Xin, Founder and General Manager of Zhongxin Financial and Tax Group (Z&X), and Sun Xiaochen, Business Development Director, were invited to take part.
HOUPU presented its business in natural gas refueling, the full hydrogen value chain and core components, and outlined its plan to explore the Thai market and assess setting up a local entity. Participants noted that as electrification of Thailand's transport sector accelerates, clean energy applications are extending to non-transport uses such as green power for data centers, solar- and wind-based hydrogen microgrids, and biomethane.
In the finance and tax session, Dong Xin shared three practical points for Chinese companies entering Thailand:
・ Local entity. Thai project owners place strong weight on whether a partner has a local operating entity, especially for EPC, O&M and investment projects.
・ Tax framework. Thailand's current VAT rate is 7% and the standard corporate income tax rate is 20%. Eligible projects may apply for investment incentives from the Board of Investment (BOI).
・ Withholding tax. Payments for construction and services are generally subject to 3% withholding tax. It can be credited against annual corporate income tax, but it ties up cash earlier and should be built into project budgets.
He recommended that companies plan their entry by business stage, considering entity type, BOI application and tax arrangements together.
Bank of China (Thai) introduced its cross-border financial services, and Sinopec presented its business in Thailand and its readiness to help Chinese chemical companies connect with the Thai market. The parties reached a preliminary consensus to establish a regular communication mechanism.
About Z&X
Founded in 2011, Zhongxin Financial and Tax Group (Z&X) operates tax, accounting and audit firms in China and Thailand, with a branch in Thailand's Eastern Economic Corridor (EEC). It has served more than 5,000 Chinese enterprises, including over 200 in Thailand, and completed more than 100 BOI projects. Z&X is a member of the China Chamber of Commerce in Thailand.
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