Articles

Hong Kong Unveils New Cybersecurity Bill

Hong Kong has introduced the Protection of Critical Infrastructures (Computer Systems) Bill (“PCI Bill”), aiming to safeguard critical infrastructure sectors like banking, healthcare, telecommunications, and transport from cyber threats. The bill imposes obligations on operators, including establishing specialist cybersecurity units, adopting preventive measures, and promptly reporting incidents. A Commissioner’s Office will oversee compliance and assist during emergencies. By aligning with international standards, the PCI Bill enhances Hong Kong’s cybersecurity framework, ensuring operational continuity in critical sectors. Businesses should prepare to meet the bill’s requirements and strengthen their cybersecurity protocols.

17 January, 2025

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Hong Kong budget for Fiscal Year 2024-25

1 March, 2024

The Hong Kong 2024-25 Budget, announced by Financial Secretary Paul Chan Mo-po, focuses on economic recovery and high-quality development in the post-epidemic era, emphasizing confidence and opportunity. Despite projected fiscal deficits, the budget highlights include tax reductions, support for SMEs, and initiatives in green finance, digital economy, and innovation and technology. It aims to stimulate the property market, enhance financial services, and bolster Hong Kong’s role as an international financial hub and innovation center. The strategy encompasses removing property cooling measures, investing in technology infrastructure, and promoting green and sustainable finance, reflecting a holistic approach to navigating global challenges and seizing future growth opportunities.

ESG is a Pressing Issue Rather Than Just a Trend

23 February, 2024

The topic of Environmental, Social, and Governance (ESG) is gaining momentum worldwide. This article underscores the critical role of ESG principles in modern business, highlighting their benefits for resilience, innovation, and stakeholder alignment. It explores challenges in ESG implementation, such as data and resource constraints, and proposes solutions like data analysis and capacity building. Conclusively, it advocates for ESG integration as essential for sustainable growth and industry leadership, especially for businesses in Europe and China seeking sustainable strategies.

Dong Business in China

Our China Guides comprise a series of informative articles that provide insights on efficiently handling the compliance responsibilities and administrative formalities associated with establishing and scaling up your business in Mainland China.

Dong Business in Hong Kong

Are you looking to setting up a company in Hong Kong? Checkout our a series of comprehensive guides on how to set up and operate a business in Hong Kong.

Expanding your business into

Greater Bay Area

The Greater Bay Area (GBA) of China presents vast opportunities for businesses seeking to expand their operations in the region. The GBA comprises nine cities in Guangdong Province, Hong Kong, and Macau, with a combined population of over 70 million and a GDP of approximately USD 1.6 trillion. It is a critical part of China’s economic development strategy, aimed at creating a world-class metropolis and driving economic growth in the region.

We have a series of informative articles that delve into the various business opportunities available in the GBA. These articles cover a wide range of industries, including finance, technology, logistics, and tourism, among others. We provide insights on the GBA’s market potential, investment incentives, regulatory environment, and emerging trends that businesses can capitalize on.

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Finance and Taxation

China Pushes for Nationwide Adoption of Fully Digitalised E-Invoices

Effective 1 December 2024, China’s State Administration of Taxation (SAT) has implemented fully digitalised e-invoices, or e-fapiao, nationwide. This initiative simplifies invoicing processes, replacing traditional paper-based invoices with a streamlined digital format featuring 17 key elements, including a unique 20-digit identification code. Legally equivalent to paper invoices, the e-invoice reduces administrative burden and enhances tax compliance. The move underscores China’s commitment to modernizing tax administration while promoting efficiency and standardization for businesses and consumers. By eliminating the need for duplicate copies, the digital system improves usability and supports the broader digital transformation of the country’s financial ecosystem.

China Adjusts Export Tax Rebates for Certain Goods

Hong Kong Publishes Outcomes from Pillar Two Tax Regime Consultation

The New Era of Customs Duties: A Comprehensive Analysis of the Law of the People’s Republic of China on Customs Duties (2024) and its Comparison with the 2017 Regulations

Exploring Hong Kong’s Patent Box Regime

China Extends Tax Incentives for Import Goods Sold at Canton Fair for 2024-2025

The State Administration of Taxation Announces Comprehensive Support Measures for Small and Micro Enterprises

Summary of Hong Kong Taxes 2024-25

Hong Kong to Introduce Amendments to Enhance Aircraft Leasing Preferential Tax Regime

Critical Timing for Grasping Tax incentives — China’s Annual CIT Filing for Fiscal Year 2022 in 2023

Market Entry, Industry Updates and More...

China Further Relaxes Visa-free Transit Policy

China has expanded its visa-free transit policy, effective 17 December 2024, to allow eligible foreign nationals to stay up to 10 days (240 hours), up from the previous 72-144 hours. The policy also increases the number of visa-free entry ports from 39 to 60, with new additions in Anhui, Guizhou, Hainan, Jiangxi, and Shanxi provinces. Nationals from 54 countries, including the US, UK, and Brazil, qualify for this policy. Additionally, China’s unilateral visa exemption program now offers extended stays of up to 30 days and includes academic and cultural exchanges as valid travel purposes.

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