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Covid-19 vaccines are crucial for protecting ourselves from the widely spread epidemic. CWCC welcomes and encourages our staff to receive Covid-19 vaccination. Upon introducing our new vaccination encouragement policy to our HKSAR and Mainland China offices, staff who receives a dose of vaccine, before or after the policy is introduced, is entitled to paid leave of 1 day. We hope that our staff can take enough rest after getting vaccinated.

Highlights of CAI Impact to EU investors in China market 1.  China’s market access commitments: Automotive Sector:  1) Remove and phase out joint venture requirements.  2) Allow market access for new energy vehicles. Finance Services:  1) Continue the liberalization of the financial services sector  2) Joint venture requirements and foreign equity caps removed for banking, securities and insurance (including reinsurance), as well as asset management. Health (private hospitals): Offer new market opening by lifting joint venture requirements for private hospitals in key Chinese cities, such as Beijing, Shanghai, Tianjin, Guangzhou and Shenzhen. Other industries include: R&D (biological resources), telecommunication/cloud services, computer services, international maritime transport, air transport-related services, environmental services,… Continue reading EU-China Comprehensive Agreement on Investment – CAI #2

Highlights of CAI Part 1 (general information on CAI) 1.27 EU Member States and China have reached an agreement in principle on 30 December 2020 through 35 rounds of negotiations on the Comprehensive Agreement on Investments (“CAI”). 2.Member countries are China and EU member States including, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden. 3.The CAI’s main objective is an enhanced protection of EU investments in China and vice versa, improved legal certainty regarding the treatment of EU investors in China, reduction of barriers to investing in China, and as… Continue reading EU-China Comprehensive Agreement on Investment – CAI #1

MAJOR MEASURES PROPOSED IN 2021-22 BUDGET In his Budget delivered on 24 February 2021, the Financial Secretary of HKSAR proposed the following major measures: Electronic consumption vouchers Issue $5,000 electronic consumption vouchers in instalments to each eligible Hong Kong permanent resident and new arrival aged 18 or above. Reducing profits tax, salaries tax and tax under personal assessment for the year of assessment 2020/21 One-off reduction of profits tax, salaries tax and tax under personal assessment for the year of assessment 2020/21 by 100%, subject to a ceiling of $10,000 per case. The proposed tax reduction is not applicable to property tax. Individuals with rental income, if eligible for personal assessment, may be able… Continue reading MAJOR MEASURES PROPOSED IN 2021-22 BUDGET

Highlights of RCEP 15 member countries signed the Regional Comprehensive Economic Partnership agreement (“RECP”) on 15 November 2020. The member countries are the ten ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam) and other five partner countries (Australia, China, Japan, New Zealand and South Korea). The population of the Member States is about 2.2 billion, accounted for 30 % of the global population, and 30% of the global GDP and 28% of global trade (based on year 2019 data). RCEP not only has the potential to be a major platform for global trade, it could also become a major global platform. India, which joined… Continue reading Highlights of RCEP

Dear Client, We would like to take this opportunity to wish you and your family a happy and prosperous Year of the Ox. Kung Hei Fat Choy 恭喜發財