Welcome to another edition of the Hongda Business Services Roundup! We are slowly but surely making our way through the holiday season, but things aren't slowing down for all of us working and living in China. This week we have another great lineup of posts for you all that include:
- Why Annual Hong Kong Company Accounts Auditing Is Crucial For Success
- This is how startups do business in China
- Why foreign brands have to figure out China all over again
- Extended FAQ concerning Hong Kong company registration and formation-1
1) Why Annual Hong Kong Company Accounts Auditing Is Crucial For Success
Annual Hong Kong company accounts auditing may seem like just another element of regular tax and accounting for HK companies, but in fact the CPA's report may have far-reaching consequences.
This means that it is in fact a very important yearly task for Hong Kong businesses to undertake.
But what makes it so important, and why should we be aware of it before even undertaking Hong Kong company formation?
2) This is how startups do business in China
image credit: PR from Visualead
Breaking into the Chinese market for a young startup can feel like climbing over the Great Wall. It looks impenetrable from afar, is heavily guarded by dangerous gatekeepers, and the rewards of making it to the other side are too enticing to pass on.
Israeli startups by their nature are geared towards the international markets. More often than not, they shoot right for Silicon Valley and the hot spots in Europe, ignoring one of the most powerful economies in the world.
A report from the IVC Research Center’s Michal Adam on Chinese investments in Israeli high-tech companies notes that the rate of participation for Chinese investors is fairly low with only around 80 Israeli companies having received funds. However, she points out that the trend is rising as the numbers have begun to elevate since 2011 and 2014 claiming a significantly strong showing, even if it is not where it could be expected by this point in time.
3 Why foreign brands have to figure out China all over again
Serge Dumont moved to Beijing from his native France in 1985, just as China was opening to the global economy and before early movers such as KFC and Procter & Gamble had even entered the country.
"The China I discovered was one of Mao suits and bicycles," said Mr. Dumont, a pioneer in China's marketing and communications landscape who is now vice chairman at Omnicom Group.
Thirty years later, it's impossible to use the adjective "slow" for any aspect of Chinese urban life; speed and change define China. It's the world's second-biggest economy, and its 1.36 billion people are the biggest market for everything from cars to shoes to smartphones.
China is full of globalized shoppers who took more than 100 million trips out of the mainland last year. Its middle class buys imported baby formula, feeds its dogs Purina and splurges on luxury handbags—in short, it's the more mature market that multinationals have been waiting for all along.
4) Extended FAQ concerning Hong Kong company registration and formation-1
Hong Kong company registration is something that we get asked about on a daily basis, and even though it's comparatively easier to set up than a traditional China WFOE or a Representative office, there are still lots of questions that we find are repeated when we have meetings with new clients that we'd like to bring to light!
In this two part blog we will take a look at answering questions in different areas surrounding the registration and formation of a Hong Kong company:
- Registration
- Deregistration
- Naming
That it for this week's edition of the Hongda Business Services Roundup! Please let us know about any of your thoughts regarding some of the topics we recapped this week in the comments below, or let us know about any other topics you'd like for us to cover.
From everyone at Hongda Business Services, have a relaxing weekend and catch you all again next week for more of the same!
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