Hong Kong Focus
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- Hong Kong Focus
Why Hong Kong?
Hong Kong is Asia’s World City
With nearly 8,000 overseas and mainland Chinese companies having chosen Hong Kong as their home, no other city has ever quite succeeded in stealing the show from Hong Kong in the contest to win the much coveted title “Asia’s World City”. Lauded for its economic freedom, competitiveness, opportunity and ease of doing business, and for its role as an international financial centre and the key gateway to China, Hong Kong is truly one of a kind.
As your well-connected and highly experienced expert advisor based in Hong Kong with presence in mainland China, CW can help you:
- to determine the feasibility of the legal entity structure and establish operations in Hong Kong;
to ensure compliance with audit and other assurance requirements;
to manage tax-related obligations in accordance with local taxation laws, regulations and practices;
to ensure compliance with local customs and excise laws and regulations;
to take care of time-consuming business processes, e.g. accounting, payroll and other HR operations.
A highly dynamic city that serves as the perfect platform into Mainland China and Asia, Hong Kong is the ideal place for business in Asia. It is a business-friendly city with a multitude of advantages to ensure businesses can flourish.
A stable, low and straightforward tax system
Free flow of information and capital
Free trade and free market
Level-playing field for local and international businesses
No foreign exchange controls
English as the lingua franca of business
Independent and transparent legislature, executive and judiciary systems
First-rate infrastructure and telecommunications systems
Hong Kong is the Global Super-Connector
Hong Kong serves as a “super-connector” and “a conduit for direct investment”, opening doors to other major Asian markets and unlocking a vast continent of opportunities which mainland Chinese and foreign investors can tap.
IMD World Competitiveness Yearbook
Ranked 2nd in Asia and 5th globally in IMD World Competitiveness Yearbook 2020
Global Financial Centres Index
Ranked 5th globally after Singapore for its competitiveness in the Global Financial Centres Index 2020
The Heritage Foundation
Being consistently regarded as the world’s freest economy by the US-based Heritage Foundation in its annual Index of Economic Freedom
A Gateway to and For China
Long been dubbed the “gateway to China”, Hong Kong has been facilitating trade between the East and the West and, in particular, between mainland China and the rest of the world.
To complement the Chinese government’s “going out” strategy as China becomes increasingly outward-looking, Hong Kong has been acting as a gateway for China to access overseas markets. According to the Hong Kong Trade Development Council (HKTDC), around 60% of the stock of China’s foreign direct investment outflows amounting to US$656.9 billion were made to Hong Kong in 2015. The HKTDC also adds that Hong Kong provides the preferred platform for mainland Chinese enterprises when seeking professional services to capitalise on opportunities from the “One Road, One Belt” initiative.
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