The National Day Celebration Dinner of People’s Republic of China (PRC)
Partners of our firm, Mr. Thomas Wong and Rosanna Choi, our guests and some of our management team members, joined the dinner organized by the HKICPA and SCAA CPA on celebrating the 70th anniversary of the founding of the People’s Republic of China on 12 September 2019 at the Hong Kong Convention and Exhibition Centre. Over 750 guests, including business leaders from all sectors, and representatives from the governments of the Hong Kong SAR and the PRC joined the celebration dinner. Mr. Paul Chan Mo-po, GBM, GBS, MH, JP, Financial Secretary was one of the Officiating Guests.
Written by Mandy Lau, Administration Department, CW CPA
Seminar on PRC Legal Updates and Taxes in Shanghai
On 17 September, CW held a seminar together with our business partner, A&Z Law Firm, in Shanghai. We are grateful to have WeWork’s support in our event.
Mireia Paulo, Director of the European-American Market of A&Z Law Firm as the Master of Ceremonies gave the welcoming remarks introducing the event, the speakers’ background and topics, and thanking the partners involved in the organization of the event.
From CW, our colleague, Marant Caballero, Senior Advisor of Latin Department, gave a presentation of recent changes of the Tax Regulations in China, making emphasis on the use of Big Data and technology by the government authorities to collect information and improve the current tax declaration process. The important changes on Individual Income Tax and social insurance that occurred this year were also explained.
On side of A&Z Law Firm, Andrew Zhang, Senior Partner, presented the coming changes on the compliance of the Cybersecurity Law in China, including the implications of transfer of data from China to overseas. Additionally, other topics addressed in the presentation were the Cross-Border E-Commerce and the Foreign Investment Law.
After the presentations, a Q&A session was held with very positive response from the audience. With such a diverse audience with over 50 guests from different backgrounds and countries, the session was dynamic and rewarding. Afterwards, the participants were able to engage in a networking session and further questions were asked to obtain more details.
Special thanks to our partners, A&Z Law Firm, for their support on the organization of this successful event.
Written by Marant Caballero, Latin Department, CW CPA
CW was invited to the 2019 Investment Promotion Conference of the Design Capital of Guangzhou on 26 July 2019.
The Design Capital will be located in the northern corner of Baiyun New Town (downtown area) for design-related companies, R&D centers, and industrial design offices. With Mountain Baiyun to its east and Baiyun Lake to its west, it lies in the leading position of Guangzhou-Shenzhen Technological Innovation Aisle and the innovation nodal point in Guangzhou Airport Economy Model Zone.
Four major design sectors, three service platforms with twenty-one programs will be laid out in an attempt to build all-in-one industrial and residential facilities covering such functions as office, business, exhibition, accommodation, and leisure. As a key municipal program, the Design Capital is positioned to be molded into an international brand cradle for aggregation of design industries in Guangzhou-Hong Kong-Macao Great Bay Area, the first trade center for the Belt and Road Initiative design services in South China and the first B2B sharing platform for the design industry in Guangzhou.
Written by Gabriela A. Lenis, Latin Department, CW CPA
To celebrate the grand opening of our Guangzhou office, in the late afternoon of 16 August 2019, CW team held a welcoming seminar focusing on the regulatory compliance updates that foreign businesses should know in mainland China. Our new office is located at the state-of-the-art landmark in Guangzhou – International Finance Centre. Over 50 guests shared the joyful moment together.
Delivering the welcoming remarks, our partner, Mr. Thomas Wong, took the opportunity to announce the launch of a new service platform for the Human Resources Process Outsourcing (HRPO) in the Greater Bay Area in January 2020. Ms. Delilah Li, Senior Manager of Greater China of our firm, outlined some typical risks overseas entrepreneurs should watch out in China. Following Delilah’s presentation, Attorney Richard Zhang, and Mr. Lidong Pan, Managing Director of Reiz Law Firm, discussed respectively the business law and IP protection issues frequently encountered by foreign companies in China. Lastly, Mr. Michael Chen, Managing Director of WJC Consultants gave heads up on the latest tax policies.
We would encourage all attendees and those who missed the seminar to get in touch with us so that we can continue our dialogue with the legal and tax experts amidst the fast-changing regulatory framework.
Thanks again to our business partners, Z&T Law Firm, Reiz Law Firm and WJC Consultants for their continuing support.
Written by Toby Wong, China Consultancy Team, CW CPA
The 2019 Qianhai Cooperation Forum was held in Shenzhen on 2 August 2019. The aim of the Forum was to publicly deliver the plans of Qianhai Cooperation Zone as a strategic point, and show Qianhai as an example for putting China´s opening-up policy into action.
The forum focused on the role of Qianhai, being one of the major players in the cooperation of Hong Kong – Macao – Guangdong province. According to the speakers, the key points carried by Qianhai in the cooperation between these cities and the development of the Greater Bay area were:
– The Free Trade Zone test and results of its implementation.
– Technological innovation, and the attraction to research, product development, etc.
– Risk supervision and control in the area.
The event was organized by the Authority of Qianhai Shenzhen – Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality and the Chinese Association of Hong Kong and Macao Studies.
The opening ceremony had important speakers such as Mr. Xu Ze, President of the Chinese Association of Hong Kong, and Macao Studies. Mr. Huan Liuquan Deputy Director, member of the Leading Party Member´s Group of the Hong Kong and Macao Affairs Office of the State Council, Mr. Chan Mo-Po Financial Secretary of the Hong Kong S.A.R. and Mr. Chen Ruigui, Deputy Secretary of the CPC Shenzhen Municipal Committee, who emphasized the importance of the mutual cooperation between Hong Kong and the rest of the Greater Bay Area and the commitment to continue with the current status of One Country Two Systems Policy. Chen mentioned that the current policy would grant the Greater Bay Area the status the country is looking for, and most importantly, maintain the life quality of all the habitants of the GBA.
Another impressive speech was given by Ms. Joan McEntee, former Undersecretary of the U.S. Department of Commerce and Chairman of the U.S. MKBC International Inc.. Referring to the current Trade War between China and the U.S., she mentioned the benefit for both countries in the years of cooperation are tangible. She firmly believed that both nations appreciate that their mutual cooperation is of significant importance not only for both countries but the entire world.
Another important topic in the forum was the technological development in Qianhai. The role of technology, the development of 5G network and the Internet of Things were the major points of the discussion, not only for industrial growth but also for social safety, health, fin-tech, etc.
Further information about the plans for the Qianhai Shenzhen – Hong Kong Modern Service Industry Cooperation Zone can be referred to the following website: http://www.szqh.com.cn/
If you wish to know the benefits of establishing a company in Qianhai, Shenzhen, please send us a message at firstname.lastname@example.org . We will share with you the benefits and process to set up at the Qianhai Free Trade Zone.
On 18 Jul 2019, Mr. Thomas Wong, Partner of CW CPA led a team of CW colleagues visited Hong Kong Science Park and was well received by Mr. Peter Mok, Head of Incubation & Acceleration Programmes and Mr. Wilson Chan, Senior Manager of Incubation Promotion at Hong Kong Science and Technology Parks Corporation (HKSTP).
During the meeting, Mr. Wilson Chan provided a latest update on HKSTP’s pre-incubation, incubation, and enterprise acceleration programmes, following which Ms. Shelley Lin from CW presented to HKSTP about the professional services and networks CW could offer and the activities CW has been conducting to attract and support overseas entrepreneurs in Hong Kong.
HKSTP has three main set-ups for scientists and developers. In their pre-incubation stage, HKSTP has the Science and Technology Entrepreneur Programme (STEP) which has lower criteria and allows tech-focused entrepreneurs to test their idea by giving them access to funding, space, and developmental training for a year. The incubation stage is broken up into Incu-app, Incu-tech, and Incu-bio divisions, with each successful applicant receiving access to office space, technical and management assistance, promotion and development assistance, business support, and a financial aid package. Finally, the Leading Enterprises Acceleration Programme (LEAP) helps startups access the global stage, by granting access to the Greater Bay Area, commercializing with a startup ecosystem backed by the HK Government, and receiving up to HK$4.5 million.
The meeting was productive and Mr. Thomas Wong and Mr, Peter Mok exchanged ideas on how CW and HKSTP could collaborate to help startups achieve success in Hong Kong. HKSTP was particularly interested in CW’s specialty in the Spanish-speaking and Portuguese-speaking markets. Despite the on-going trade war between China and the US, neither CW nor HKSTP have seen a decrease in inquiries. In particular, CW has been receiving an increasing number of enquiries about the incubation programmes offered by HKSTP from entrepreneurs in China, ASEAN and Europe recently. And a tailor-made service package is now being designed to offer a total solution to overseas entrepreneurs who wish to set foot in Hong Kong.
The discussions for closer cooperation between CW and HKSTP will keep going on and remain promising.
Written by Shelley Lin and Melissa Au, Business Development, CW CPA
Written by Toby Wong, China Consultancy Team, CW CPA On 17 July 2019, CW CPA jointly organized a seminar as part of the “Regional Business Gathering Series – Hong Kong” event with the Commerce Bureau of Shenzhen Municipality and the Shenzhen International Investment & Promotion Association, under the theme of Winning Together in the Hong…
Written by Candy Wong, Administration Department, CW CPA CW’s Partner, Ms. Rosanna Choi spoke at a seminar at the Guangdong University of Foreign Studies, Guangzhou on 3 July 2019. The topic of the seminar is “Blue Ocean Strategy for Business Professionals.” Ms. Choi shared her experience with the students there. After the seminar, a few…
A team of our colleagues from different departments visited Cyberport on 17 June 2019. The team was received by: – Ir Eric Chan, Chief Public Mission Officer, Cyberport – Ms Ivy Chan, Head of Ecosystem and Collaboration Team, Cyberport – Ir Antony Chan, Senior Manager, Ecosystem and Collaboration Team The visit program was started by…
At the beginning of May this year, CW relocated to a new office in Shanghai. The new office is located in a modern and versatile business center with larger office space and better facilities in order to accommodate our growing team. Our partners are confident in expanding CW’s businesses in China; not only in the…