Event Invitation: Webinar regarding Cloud Accounting Arranged with German Chamber Hong Kong

Living in a highly globalized and digitalized world, companies and firms are starting to digitalize their work in order to be more competitive and efficient in the fast-paced business world. For example, companies in financial management begin to shift their accounting businesses online by adopting cloud accounting services to stay ahead of their competitors. 

At 11am on 25 March 2021, CW will hold a webinar regarding cloud accounting together with the German Chamber of Commerce, Hong KongOur Business Advisor, Therese Feng, will be the speaker and share insights on this topic.  

Please feel free to joinFor registration, please keep an eye on the upcoming notice of the German Chamber of Commerce (Hong Kong) about the webinar details: https://hongkong.ahk.de/events/event-gallery. 

Written by Therese Feng, German Desk, CW CPA



CW and A&Z Law firm – Webinar Doing Business in China 2021: a legal and tax perspective

With the ongoing effects of 2020, 2021 presents challenges and uncertainties for businesses in China. On 27 January, we addressed some of these issues for companies to better prepare themselves for 2021. Our colleague Marant Caballero from the Latin Department of the Shanghai office spoke about tax policy updates in 2021 and case studies of scanners in 2020. We would express our gratitude to Anna Lukina from A&Z Law Firm, for her assistance in providing a legal perspective for 2021 on labour issues, international transactions and fraud prevention.  For more information about our services and to stay updated, please contact marant.deneb@cwhkcpa.com or subscribe to our Newsletter and social media. 

Written by Marant Caballero, Latin Department, CW CPA


Direction Association for the Handicapped

Pro Bono – Direction Association for the Handicapped

The Direction Association for the Handicapped 路向四肢傷殘人士協會 is a group of people with severe physical impairment who share the spirit of “Mutual-help and Self-help”. They support the integration of members back to the community so that they can live in the barrier-free community with happiness and confidence.  

The Association has published the book《路向》in 2010 and has launched the revised edition last year in 2020which was the 30th anniversary of the incorporation of the AssociationThe book 路向》consists of 12 real-life stories of their members, concerning their recovery experiencepsychological conditionlove and family issues, school and work life. 

If you are interested in this book, you can either contact us or purchase a copy from Joint Publishing (Hong Kong) 三聯書 or The Commercial Press (Hong Kong) Limited 商務印書館 in Hong Kong. 

To know more about Direction Association for the Handicapped, please visit: 


Written by Mandy Lau, Administration Department, CW CPA


RC - photo for newsletter3

Ms. Rosanna Choi – Honorary Treasurer of Hong Kong Baptist University’s Council and Court

We are pleased to announce that Ms. Choi, Partner of CW CPA, has been reappointed as the Honorary Treasurer of Hong Kong Baptist University’s Council and Court for another 3 years with effect from 1 January 2021.   

Written by Mandy Lau, Administration Department, CW CPA



HSBC representative of Shanghai Branch Office

HSBC representative of Shanghai Branch Office

On 10 December 2020, a representative from the HSBC Shanghai branch visited our Shanghai office. Some colleagues of our Shanghai and Guangzhou offices attended the meeting to discuss near future cooperation for our clients in Shanghai and Southern China. CW keeps on searching for ways to improve our services to clients interested in doing business in China and partnering with international organizations, such as HSBC, in providing flexible solutions due to the current travel limitations. 



Our firm's ongoing training

Our firm’s ongoing training

The Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Ordinance 2018 became effective on 1 March 2018 in Hong Kong.   

Accountants working in professional firms, lawyers, and trust or company service providers, among others, are required to conduct customer due diligence and recordkeeping when they carry out particular kinds of transactions for their clients. To equip ourselves for these requirements, CW‘s professional teams received training organized by the Hong Kong Institute of Certified Public Accountants (HKICPA) in the afternoon of 4 December 2020. 



A Recap of Recent Business Events in Guangzhou

  • Our Business Advisor, Ms. Therese Feng, had the honor of attending the Understanding China Guangzhou Conference from 20 to 22 November, the China-Foreign Chambers Business Exchange on 25 November, and the UK Business Dialogue with the Guangzhou Municipal Government on 10 December 2020.  

During the last few days, our business advisor Ms. Therese Feng had the honor of attending the following events and activities arranged in Guangzhou. 


Understanding China Guangzhou Conference 

20 to 22 November 2020 

First rolled out in 2013, four sessions of the Understanding China Conference have been successfully held in Beijing and Guangzhou, attracting over 100 former political leaders, prominent entrepreneurs, and scholars around the world to participate. The conference provides a crucial platform to demonstrate Chinas national development strategies and for the international community to take a more in-depth, better look into the countrys road of peaceful development as well as its domestic and foreign policies. 

This years Understanding China Guangzhou Conference was co-hosted by the China Institute for Innovation and Development Strategy, the Chinese Peoples Institute of Foreign Affairs, the Peoples Government of Guangdong Province, and the world reputed think tank, the 21st Century Council of the Berggruen Institute, and organized by Guangzhou Municipal Peoples Government on the theme of Great Changes, Great Tests, Great Cooperation — Chinas New Journey of Modernization and the Community of Shared Future for Mankind. It comprised TED talks and 10 parallel sessions themed New Infrastructures and New Manufacturing: New Momentum of Growth and Chinas High-Quality Economic DevelopmentFinancial Challenges and Opportunities in China under Dual Circulation StrategyGreat Cooperation in Post-Pandemic Global Economy Recoveryetc. 


China-Foreign Chambers Business Exchange 

25 November 2020 

The China-Foreign Chambers Business Exchangewas organized and supported by several foreign chambers, including the German Chamber of Commerce and domestic organizations, and was held on 25 November in Guangzhou. 

The purpose of the event was to promote business exchanges. Business introduction and exchange session was presented by different organizations, including Nansha Free Trade Zone of Guangzhou.  


UK Business Dialogue with the Guangzhou Municipal Government 

10 December 2020 

The UK Business Dialogue with the Guangzhou Municipal Government was organized by the China-Britain Business Council (CBBC) in partnership with Guangzhou Municipal Commerce Bureau, Guangzhou Financial Supervisory Authority, and Tianhe District Government. The event was held on10 December (Thursday). 

The UK Business Dialogue provided a forum for CBBC members to engage the Guangzhou Municipal Government on local policy relating to trade and investment as well as the cities plans for GBA integration.  

In addition, CBBC members were invited to raise questions about the local business environment, and they received feedback from the relevant local government departments. Officials from the Guangzhou Municipal Government, including Guangzhou Municipal Commerce Bureau, Guangzhou Financial Supervisory Authority, and Tianhe District Government, were present to answer CBBC members’ questions. 

The above three events were all successfully held in Guangzhou. As one of China’s key National Central Cities, Guangzhou is an international business center, a comprehensive transportation hub, a critical interchange along the Belt and Road, and a significant engine fueling the development of the Guangdong-Hong Kong-Macao Greater Bay Area.   

With an office in Guangzhou and as one of the few firms which have already started to plant seeds in the Greater Bay Area since 2017, CW would love to help foreign enterprises to invest in this city, offering a wide array of client-focused, tailored services of professional quality, including audit and other assurance, tax, corporate secretarial and business process outsourcing, and advisory specialisms. 

Written by Therese Feng, German Desk, CW CPA


Webinar, China, Hong Kong

Our Top 10 Webinars in 2020

  • In 2020, webinars have become our favorite tool for creating engaging digital experience and sharing knowledge with our beloved clients and friends. During the year, we have organized or co-organized a total of 34 webinars, reaching to thousands of audiences with topics such as Greater Bay Area, Start-ups, E-Commerce, Human Resources Management, Foreign Direct Investments to China, etc. In this article, our Social Media Team lists the top 10 CW webinars worth mentioning. 

In 2020, webinars have become our favorite tool for creating engaging digital experience and sharing knowledge with our beloved clients and friends. During the year, we have organized or co-organized a total of 34 webinars, reaching to thousands of audiences with topics such as Greater Bay Area, Start-ups, E-Commerce, Human Resources Management, Foreign Direct Investments to China, etc.  


In this article, our Social Media Team lists the top 10 CW webinars worth mentioning: 

1. China after COVID-19: Options, Opportunities and Possibilities  

The Webinar aimed at Latin American businesses that want to learn from China’s experience in fighting COVID-19, using the example of Shenzhen. 



Language: Spanish 


Topics covered: 

  • Shenzhen Municipal Government has provided support up to RMB 60 billion in the form of reduction and exemption, subsidies and hold-over payment, among which the financial support will exceed RMB 10 billion. 
  • Shenzhen was able to incorporate mobile technology, big data, and artificial intelligence into its COVID-19 response. 
  • In minimizing the financial impact due to COVID-19, employers must first act swiftly in adopting temporary policy to protect the safety of employees, analyze from the financial perspective how to reduce unnecessary operating costs and enhance receivables control. Lastly, businesses should re-think their business models from a long term perspective and start adopting a digital strategy.  


2. As China returns to work, is it business as usual? Lessons learned. 


In this webinar, we gathered a group of panelists to share the lessons the world can learn from China after lifting their lockdown, reopening their economy and business is back to “Normalcy”. 


Co-organizer: US-Mexico Chamber of Commerce California Chapter 

Language: English 


Topics covered: 

  • Official China forecasts of 2020 and 2021, GDP, Imports, Exports, FDI 
  • Estimate of when the economy will go back to normal 
  • How was the process to get the business reopened? Was it by region? By Industry? By relevance? 
  • US-China Trade Relations after COVID-19 
  • Recommendations for small and mid-sized companies in Mexico and the US as to what to do and not to do to make made things easier throughout the “stay home” order 
  • Major legislative changes in the US anticipated as a consequences of the COVID-19 
  • What business opportunities will the USA and Mexico have with China in the aftermath 


3. The Guangdong-Hong Kong-Macau Greater Bay Area – opportunities for SMEs  


The Greater Bay Area only accounts for 0.6% of China’s land and 5% of the population, yet it accounts for 12% of the country’s GDP. Hence, the average GDP per capita is more than double the China average. How can Australian SMEs get involved? 


Co-organizer: Australia China SME Association 

Language: English 


Topics covered: 

  • The development of the Greater Bay Area is a high priority for China and creates unique opportunities for foreign investors and entrepreneurs seeking a single and attractive market entry point. 
  • There are over 70 million people living in the 11 cities which make up the GBA, a number which is expected to double in the next 20 years. This creates a vast market for the distribution of relevant products and services. 
  • Connectivity and Convenience are the two buzz words – new roads, bridges, high speed railways and 5G infrastructure will create an exciting hub of economic activity. 
  • It’s now easier and faster to set up foreign companies in the GBA – foreign companies can get up and running within a week. 


4. Revisiting China’s New Foreign Investment Law and its impact on foreign SMEs 


On 1 January, the China’s Foreign Investment Law and its Implementation Regulations officially came into force, providing a legal guarantee for continuously optimizing the foreign investment environment and promoting a higher level of opening-up. This Webinar organized exclusively for a group of entrepreneurs in Zhuhai talked about several practical issues in setting up a business in China under the new law  


Language: English 


Topics covered: 

  • What happened to the existing WFOEs and JVs?  
  • How to form a private company with a Chinese partner now?  
  • What is a Negative List? How does it affect your existing business or the business you are going to set up? 
  • What is the difference between “Approval” and “Record Filing”? 



5. Covid-19 Bounce Back: Maximising People Performance 


CW CPA combined forces with their partners Hewlett Rand and InvestHK to host a thought-provoking online event for business leaders across the Greater Bay Area during August. The event considered how HR & Training can support their business transformation and change to bounce back through the Covid19 pandemic, as employees continue to return to their workplace and employers continue to navigate the ongoing pandemic.  


Co-organizers: Hewlett RandInvestHK 

Language: English 


Topics covered: 

The 5 key areas where HR & Training teams can help their organizations to rebuild, re-engage and upskill teams: 

  • Leadership  
  • Structures  
  • Processes  
  • Technology 
  • Culture 



6. China: a market for Latin America  


In this webinar, we discussed how the cross-border e-commerce business in China is booming and introduce a new cross-border e-commerce platform to Latin American companies  China Travel Bus Mall. 


Co-organizers: Colombian Chinese Investment and Commerce Chamber 

Language: English 


Topics covered: 

  • China’s cross-border e-commerce presents a new way for Latin American brands to test the China market. China’s online retail market is larger than the next 10 markets combined. 
  • There is a rapid increase on the demand of travelling frequency over the Government initiative of Greater Bay Area and the mobility involved 70 million population. Currently, the traveler frequency is over 3 million monthly that using CTS bus services travel between HK and China.  
  • Introduction to CTS Bus Mall, a CROSS-BORDER platform that supported by Stated Owned Enterprises catering on-line retail; marketing; customer service; logistics and clearance from customs. 


7. GBA & LATAM Linkages  China’s support for Latin American states during the pandemic  


This Webinar is part of the round table discussion series organized by the Pacific Basin Economic Council. 


Co-organizers: Pacific Basin Economic Council (PBEC) 

Language: English 


Topics covered: 

  • The 11 cities in the Greater Bay Area have their unique advantages. Each city has its vision, mission and value.  We should focus more on corporate strategies and general management for better integration between cities.  
  • Most of the Latin American economies have a trade deficit with China by exporting raw materials and foods. The way to expand trade with China will be extending product catalogues like products related to the digital economy, financial services and research development, which suit the needs of GBA as the area specifies in developing these industries.  
  • During the pandemic, many companies in Latin America have turned their business to online platforms. They would like to explore China’s market through Hong Kong. Therefore, it is a good way to invest in the GBA for firms from Latin America that would like to enter China’s market by trading with the GBA.  
  • Countries cannot rely too much on the supply chain in China. Supply chain diversification is needed for a more stable supply for the world. 



8. Using Hong Kong to strategize your digitalization process 


Recent discussions aboute-commerce have gained more visibility due to the current economic and social scenario caused by the pandemic. Many companies are turning to digitalization to increase their revenue and to save their businesses. In this sense, we prepared this webinar focusing on the advantages of using Hong Kong as a leverage on the digitalization process of companies and providing some tips for establishing a successful e-commerce.  


Co-organizers: InvestHK, Chinese Chamber of Commerce of Brazil 

Language: English 


Topics covered: 

  • An overview of Hong Kong’s attractive business environment, with a specific focus on the city’s current economic and social situation. 
  • The relief measures undertaken by the HK Government to support the economy and businesses during the pandemic. 
  • The opportunities in HK arising from digitalization across different sectors, such as B2C, B2B, E-Commerce, etc. 



9. Guide to keep your company up to date in Hong Kong 


This webinar is an educational workshop that provides guidance on how to operate a Hong Kong company in a compliant manner. We discussed issues such as filing annual return, how to prepare the accounting books and get ready for the annual audit & tax filing. 

Language: Spanish 


Topics covered: 

  • Annual compliance for a Hong Kong Limited Company 
  • How to keep business records 



10. Accelerating Asia business through Hong Kong 


In 2020, our firm has placed quite a strong emphasis on promoting the startup ecosystem in Hong Kong. In this webinar, we have assembled an amazing panel with high-level speakers sharing their view on Brazilian start-ups can be better prepared for the Asian markets.  


Co-organizers: Cyberport, InvestHKLIDE China, Arena Hub, Raja Valley, Chinese Chamber of Commerce of Brazil 

Language: English 


Topics covered: 

  • How start-ups are performing in Brazil? 
  • What challenges are Brazilian start-ups facing during their internationalization process? 
  • What are the expectations from Asian investors? 
  • How can Brazilian start-ups be better prepared to tap into the Asian markets? 


After reviewing our Top 10 list, do you find any other topics interesting to explore in upcoming year? We would love to hear from you. 

Written by Delilah Li, China Consultancy Team, CW CPA


Charitable Choice, awards

Charitable Choice announces the winners of the 2020 charity awards

Charitable Choice is a Hong Kong-registered charity providing an interactive, simple, and user-friendly digital donation platform. Recently, it launches the Charitable Choice Awards 2020 which recognize the donors who have contributed the most in the previous year. 

Below are the 2020 Awards Winners: 

  • Corporate Donor of the Year – Hong Kong Convention & Exhibition Centre  
  • Fund Raising Campaign of the Year – Valley RFC Sports Club                  
  • Charity Hero of the Year – EmmanuelleZakiand Mariam Zaki   

Charitable Choice is a Hong Kong-registered charity providing an interactive, simple, and user-friendly digital donation platform.  Individuals and corporates can purchase charity gift cards, set up fundraising pages, and donate directly to causes they wish to support. Partnering with 45+ locally registered charities, users can donate to multiple charities with a single transaction. Charitable Choice is the only charity that has this unique feature in the market. Charitable Choice has harnessed the cumulative power of small donations towards significant impact by raising more than HKD 5 million to support the underprivileged in our community. 

Charitable Choice launches its inaugural Charitable Choice Awards 2020 to recognize and celebrate corporate and individual donors, who have used their digital charity giving platform during 2019 and 2020. Charitable Choice lets its users log in to their website and purchase gift cards, grant donations, and create unique fundraising campaigns to empower the underprivileged in Hong Kong. Currently, Charitable Choice has partnered with nearly forty-seven local charities in Hong Kong, focusing on various causes, including education, children, elders, poverty eradication, animals, food, health, sports, arts, and many more. The awards will recognize the donors who have contributed the most in the previous year.  

Founder and CEO of Charitable Choice, Cheryl Wilson, has a clear focus on the mission of the award. “We are immensely grateful to all our corporate and individual donors for choosing our digital platform to make an impact on our society during the last ten years. We believe the launch of the Charitable Choice Awards is the best way for us to extend our gratitude and celebrate the efforts and commitment of those that have used the Charitable Choice platform to support various charities.” 


2020 Awards Winners 

  • Corporate Donor of the Year – Hong Kong Convention & Exhibition Centre   
  • Fund Raising Campaign of the Year – Valley RFC Sports Club                  
  • Charity Hero of the Year – EmmanuelleZakiand Mariam Zaki    


The corporate winner, Hong Kong Convention and Exhibition Centre (Management) Limited (HML) purchased corporate gift cards to support the community. “Charitable Choice gift cards are ideal corporate gifts for our loyal customers. Its solution fits well with our corporate social responsibility strategy, and feedback to this meaningful gift from our Chancellor Club members has been overwhelmingly positive.” Monica Lee-Müller, Managing Director at HML said.  

Valley RFC Sports Club raised over HKD 200,000 to support both FeedingHK and Harmony House. They chose Charitable Choice to run their fundraising campaign for its unique ability to raise funds for multiple charities through one single transaction. “It was heartening to see Hong Kong people making generous donations to this campaign amidst the economic climate hit by the COVID-19 pandemic,” Cheryl said.  

The Charity Hero of the Year Award – is set up to encourage our next generation and teach them the importance of caring about our community. Emmanuelle Zaki (9 years) and Mariam Zaki (6 years), our young winners who are also siblings, raised over HKD 24,000 to support Clean Air Network, Po Leung Kuk, and the Society for the Prevention of Cruelty to Animals. The siblings asked their friends and family members to donate to their fundraising page instead of birthday gifts.   

“We hope these awards will inspire our existing users and encourage new users to join us in raising funds to help the underprivileged in our community. We look forward to welcoming and rewarding more partners with the Charitable Choice Awards 2021″, Cheryl concluded. 

To learn more about the award winners and to gain insight into learning more about supporting local charities, please visit the Charitable Choice website (www.charitablechoice.org.hk) 


Written by Charitable Choice


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