The Society of Accountancy, Student Union of The Chinese University of Hong Kong (CUSA) is a student organization representing over 650 undergraduates majoring in the Professional Accountancy Programme (PACC) at the Chinese University of Hong Kong.
Five members of CUSA Hilbert LEUNG, Wendy KONG, Angela LAM, Mandy CHAN, Cynthia YUEN and Victoria TSEUNG, visited our office on 19 June 2020. They have done a presentation to introduce their Society and brought us a souvenir. Our partner, Mr. Thomas Wong, shared his experience, opinion, and suggestions with the students during their visit.
Written by Mandy Lau, Administration Department, CW CPA
Stepping into CW CPA’s Hong Kong office as an undergraduate student in Psychology, I was essentially a blank slate diving into the business world characterized by intricate complexity. I was bombarded with mixed feelings on my first day of work: fear, because of uncertainties and self-doubt in whether I can fulfill my responsibilities to the fullest; excitement, because it was my first day as a business development intern; and immense gratitude, for Mr. Thomas Wong, Partner of CW CPA, has invested much in developing youngsters and took me in despite the difficult pandemic circumstances that got a lot of internships cancelled.
In an increasingly globalized world, multiculturalism has become the norm. I was allocated to the Latin Department, a signature department showcasing CW CPA’s key strengths and unprecedented breakthroughs. Having understood the diverse backgrounds of my Spanish and Portuguese-speaking colleagues, I was determined to excel and contribute in a multicultural setting. Sitting right between Latin American colleagues and Chinese colleagues, the unique work dynamics were surprisingly reminiscent of my time as a student in University College London, for everyone was friendly and so welcoming that we even established an eat-out lunch routine!
My first impression of Mr. Wong was that he is an amazing, all-rounded role model. As the leader of this company, he is not only a respectful, forward-thinking businessman who firmly commits himself to do business in the spirit of friendship, but also an amazing athlete who runs to freshen up the mind every morning. Upon my arrival with other interns on the first day, he showed us to his room and gave us a life lesson: to navigate the business world or any other field, it is pivotal to have patience and always prioritize health and family no matter the circumstances. To me, he is not only the “boss” that hundreds and thousands of staff and clients rely on, but also a mentor in life with great depth in character.
Contrary to preconceived notions, I found myself especially engaged and reflective during company meetings. This is partially due to the fast-paced and transregional nature of the meetings, which are essentially virtual conferences between colleagues in Hong Kong, mainland China, Spain, the US, and more. The division of labour, technological expertise and level of international cooperation taken to expand client’s’ businesses, enabled by advanced technological systems, truly transcends geographical boundaries. On top of this, during the course of discussion, Mr. Wong would always convey substantial take-home messages as a penny for thought, adding a splash of colour to a typical day at the firm.
During my stay at the firm, I was intellectually stimulated and continuously challenged. Not only have I gained holistic insight into the firm’s operation, I also had the opportunity to oversee and engage in specific advisory, consultancy and implementation processes involved in assisting clients from Latin America and Spain to expand their businesses to Greater China. Additionally, I polished my existing skill sets and learned about diversified strategies crucial for an effective multimedia marketing approach, as was given a chance to develop the firm’s newsletter content and webinar materials.
CW CPA is not just my stepping-stone. Working in a multicultural, people-oriented environment has fostered a global perspective and an open mind in me, as I have experienced firsthand how cultures prepared to listen, to see, to dialogue, and accept each other with great appreciation and sensitivity. It also served as an important reminder which I shall apply on my future endeavours: Under the ever-changing global landscape, businesses are no longer just about the numbers or the money. Instead, it is fundamentally based on a culture of collective respect, which relies on our inherent capacity for human trust, relationships, and even more, connections.
Written by Eugenia Kam (worked as an intern in June 2020), CW CPA
It is an exciting time, bringing forth a sign of change and progression — We are pleased to inform you that our Shanghai office has been relocated.
Room 2591, 25/F, Shanghai Central Plaza
No. 381 Middle Huaihai Road, Huangpu District
Tel: +86 (21) 6032 3609
Developing your business in the huge Mainland Chinese market characterized by remarkable opportunities is certainly an achievement worth striving for. Shanghai is a highly developed city and acts as a major financial and commercial center in Mainland China. In particular, the eastern coastal area constitutes a major industrial development hub for the Yangtze River Delta region. Our office is located in Huangpu District, right next to Xintiandi, an ideal place where we can help and guide our clients by sailing through a wide variety of services in the Mainland Chinese market. Our Shanghai-based experts are capable of providing professional advice in multiple languages. Working closely together with our other offices in Hong Kong, Shenzhen and Guangzhou, we can surely provide all-rounded support for developing and monitoring our clients’ business operations in mainland China and overseas.
Written by Wailey Liu, Business Development, CW CPA
As an in-house Foreign Direct Investment (“FDI”) Legal Counsel and Manager of Greater China in charge of CW’s China Consultancy Team, I have thoroughly enjoyed my 3 years of work at CW since 2017.
Before joining CW, I worked in an international law firm renowned for its shipping practices in South China for more than 18 years. I used to be the team leader for its FDI team for more than 10 years. I led the FDI team to assist overseas clients to set up their business in South China on a project basis. The overseas clients were mainly from the US, France, UK, Italy, Belgium, Denmark, Germany, the Netherlands, Japan, Singapore, and Hong Kong. As we served the Western clients together with foreign law firms and other corporate teams of my ex-law firm, we had to meet the professional standard of Western law firms in terms of the documentation and working methodology. There were multi-lingual client managers in my ex-firm who served the Western clients in their native languages, such as French, Italian, Dutch, English, and Japanese. It was my duty to assist these managers for their sales activities and implementation of FDI projects through transparent and effective communication.
Throughout the years working in the FDI field, I have accumulated tremendous experience in dealing with all kinds of tough situations associated with the local government as well as those involved in interacting with clients requiring special needs. There had been plenty of unforgettable challenges from handling difficult cases on a daily basis. It was definitely not an easy task to accomplish as a team leader who needed to be fully responsible for all the minor details in dozens of FDI projects under the high working standards of an international law firm (not just a normal consultancy company).
My working experience above matches the business development of CW perfectly. Over the 3 years working in this firm, I have helped to develop very much the similar practices in the inward FDI projects coming from overseas markets to PRC, despite of CW’s strength in focusing on Spanish and the Portuguese–speaking countries. Our annual revenue for the China consultancy services has increased significantly over the past few years, an outward manifestation of our sweat and tears. In the years to come, I am confident that we will achieve even greater results. I would like to express my gratitude for the support from our marketing teams (especially Latin Department) as well as the strategic marketing approaches adopted by our Partner, Mr. Thomas Wong and our capable Senior Manager, Delilah Li, who is in charge of the global business development. We soldier on~
Written by Phenix Zheng, China Consultancy Team, CW CPA
On 19 May 2020 at 11:30 am Hong Kong time, CW and Allinial Global co-hosted a webinar on “Building Stronger Linkages & Growth Through the Greater Bay Area”, sharing insights on the overview and development of the Greater Bay Area (“GBA”) with Allinial Global member firms from the Asia Pacific region.
As a member-based association dedicated to the success of independent accounting and consulting firms worldwide, Allinial Global now ranks as the world’s second-largest accounting association. The Regional Director of Asia Pacific, Ms. Abby Chee, is actively building relationships and expanding the association’s presence in the Asia Pacific Region.
On the introduction of the webinar, both partners of CW CPA, Mr. Thomas Wong and Ms. Rosanna Choi expressed that in the past few years, the firm has seen growing needs for entrepreneurs from around the world to explore trading and investment opportunities in the Greater Bay Area, especially in Shenzhen, Dongguan, and Guangzhou. There are more and more inquiries into the incorporation of foreign-invested enterprises (FIEs) in the above cities. The international communities have demonstrated their tremendous contributions to the local economies in South China.
One of the Region’s strategic positioning is to grow into an international scientific and technological innovation center with global influence according to the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area. As talent is the fundamental driving force for science and technology development and innovation, the development of the GBA will rely on the innovative system and mechanism to stimulate the innovation vitality of talents. In this regard, CW’s China Consultancy Team presented several stimulus policies rolled by the GBA cities’ municipal governments and highlighted the benefits of doing business in the GBA. Our team has assisted many foreign investors in setting up their operations in China. And we firmly believe there would be more beneficial incentives for SMEs in the years to come as China is striving to open its domestic market to foreign investors.
As the world’s second-largest economy, China has contributed more than 30 percent of global economic growth in the past few years. Although the country has been hit hard by rising labor costs, trade tensions, and the coronavirus, its GBA Initiative is now gathering momentum across the Pearl River Delta Region, aiming at developing and deepening the connectivity with the world in infrastructure, trade, commerce, capital, culture and more. Understanding China’s action plan in developing the GBA will facilitate businesses building stronger linkages and growth in the Region. CW will continue to organize webinars in the related topics in the coming months, providing more information and updates about the development of the GBA.
About Allinial Global:
Allinial Global is a member-based association dedicated to the success of independent accounting and consulting firms. Founded in 1969, this strategic affiliation of legally independent accounting firms has a mission to foster the independence, profitability, and continuous improvement of its members. Allinial Global is one hundred and ninety-three members strong and growing, with worldwide locations generating over $3.5 billion in collective revenues. With dedicated regional liaisons who have extensive connections throughout the Americas, EMEIA (Europe, the Middle East, India, and Africa), and the Asia Pacific region, members of Allinial Global are committed to providing the most agile, flexible, and client-centric solutions anywhere, anytime.
Regional Director, Asia Pacific
Written by Delilah Li, China Consultancy Team, CW CPA
We celebrate this achievement together with our fellow Allinial Global members in 2020. As an international accounting firm association, Allinial Global saw a growth of 36% in 2019, doubling their size in the last 5 years. It now has 231 members with locations throughout the world generating over US$4 billion in collective revenues.
Written by Luz Deneb Martínez, Latin Department, CW CPA
CW participated in the Annual Conference of Allinial Global Latin America in Panama City from 9 to 11 February 2020. Our representative in South America, David Barriga, attended the event where he was able to meet with the various members. Allinial Global is a top 3 worldwide accounting association with over 190 accounting firms as members, witnessing the highest growth in North America. CW is an active member of the network.
Our representatives in Latin America, with headquarters in the city of Bogotá – Colombia, are a specialized team of professionals. Mr. David Barriga is the manager and has more than 20 years of experience in consulting on China and other parts of Asia, while Ms. Angie Pinilla, a new addition to the team, is a consultant who has a strong knowledge of the commercial and administrative industries, with her experience valuable to obtaining excellent results in CW CPA.
From our office in Bogotá and with the support of our team in Hong Kong and Mainland China, we want to accompany our clients in all their administrative and accounting processes, and matters related to accounting, talent mobility solution, payroll outsourcing, recruitment, among others.
Written by Marant Caballero, Latin Department, CW CPA
CW CPA is delighted to announce that the Hong Kong Council of Social Service (HKCSS) has awarded the Caring Company Logo 2019/20 to our firm, in recognition of our commitment in three adjudication scopes, namely, Caring for the Community, Caring for the Employees and Caring for the Environment, over the past years. Our Group has been awarded the Caring Company Logo every year since 2018.
Written by Mandy Lau, Administration Department, CW CPA
It is the Chinese tradition that every family has a reunion meal (團年飯) on the New Year’s Eve. Our CW Hong Kong family had a reunion luncheon on 24 Jan 2020 in the office to conclude the Year of the Pig and to welcome the new year.
On the fifth day of the first Lunar month, which was the first working day after the Chinese New Year holiday, all Hong Kong staff and our Partners, Mr. Thomas Wong and Ms. Rosanna Choi, gathered, greeting each other a happy and prosperous new year. A red packet was given to each of the staff to bring a good start to the Year of the Rat.