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.

Contact:

Abby Chee

Regional Director, Asia Pacific

Email: abbychee@allinialglobal.com

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.

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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.

Thank you very much for all your great support and trust to CW.

We wish you a Happy and Prosperous Year of the Rat!

Kung Hei Fat Choy!

 

Our Partner, Mr. Thomas Wong, took a trip to Shanghai during 6 – 7 January 2020 and visited several international clients operating in Shanghai. Mr. Wong also took the opportunity to meet our Shanghai team, ascertaining their growth and the contribution to CW Group.

Shanghai, being a global financial hub, remains an important market for CW.  As such, we are planning to deploy more manpower in the coming months to cope with the international business in Shanghai.

Written by Delilah Li, China Consultancy Team, CW CPA

The year 2019 is coming to an end.  CW held its Christmas Party at Prince Hotel last week on 24 December 2019.  Colleagues from various departments gathered to share the joyfulness of Christmas.

Our Partners, Mr. Thomas Wong and Ms. Rosanna Choi both gave an opening speech at the kickoff, rounding up the works of CW in 2019 as well as briefing the outlook of the years to go.  Then, a lunch buffet was followed by games and lucky draws, which brought the party to the climax.

Taking this opportunity, we want to thank our friends, clients and colleagues who have persistently supported us throughout 2019 for our professionalism, kindness and diligence.

CW team wishes every of you a wonderful Holiday Season and a Happy New Year! We soldier on!

Written by Mandy Lau, Administration Department, CW CPA

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

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