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Insights

CW CPA Professional Insights on China and Cross-Border Business

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How to Conduct a Successful Sustainability Report

Effective sustainability reporting is crucial for demonstrating an organization's commitment to sustainable development. This article guides you through essential considerations and structured steps for a successful sustainability report. Begin by securing top-level commitment to ensure resource allocation and understand the regulatory landscape early on. Start small, focusing on core sustainability metrics, and gradually expand your scope. Develop in-house expertise and engage stakeholders to create a comprehensive sustainability narrative. A five-step process—from assessing readiness to continuous improvement—helps organizations draft meaningful reports that resonate with stakeholders and enhance sustainability efforts. With the right approach, sustainability reporting can drive significant environmental and social benefits while aligning with business objectives.

Guangdong’s Maritime Economy: Leading in the Nation for 29 Consecutive Years

The "Guangdong Maritime Economy Development Report (2024)" highlights that Guangdong has held the top spot in China's maritime economy for 29 years. In 2023, its maritime GDP was 1.87781 trillion RMB, comprising 13.8% of the regional GDP. The maritime industry, including emerging sectors like marine pharmaceuticals and renewable energy, contributed significantly to regional growth. Technological advancements and international cooperation, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area, have bolstered its maritime sector's robust performance.

Hong Kong Introduces New Capital Investment Entrant Scheme

Hong Kong's new Capital Investment Entrant Scheme (New CIES) is set to attract high-net-worth investors, reinforcing the city's status as a global financial hub. Launched on March 1, 2024, the scheme enables international and Chinese investors to gain residency in Hong Kong by investing in specific asset classes. To help you leverage the New CIES, this article provides an overview of the eligibility criteria, the range of investment assets that fall within scope, and details regarding the application procedure.

Expand Beyond Hong Kong: Dedicated Fund on Branding, Upgrading and Domestic Sales

Do you own a non-listed company in Hong Kong? You may be eligible to apply for funding under the Dedicated Fund on Branding, Upgrading and Domestic Sales (“BUD Fund”) to support your expansion efforts outside Hong Kong. This article will walk you through the eligibility criteria, funding scope, allocated funding amounts, and a step-by-step guide to navigating the application procedure under the different BUD schemes.

ESG is a Pressing Issue Rather Than Just a Trend

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.

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

On 17 November 2023, Hong Kong’s Special Administrative Region Government (“SAR Government”) gazetted the Inland Revenue (Amendment) (Aircraft Leasing Tax Concessions) Bill 2023 (“Bill”). The purpose of the Bill is to enhance the aircraft leasing preferential tax regime originally introduced in 2017. This article will provide a summary of the key legislative changes to the aircraft leasing preferential tax regime. For information about other tax incentives in Hong Kong, consult our Complete Guide to Hong Kong Tax.
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