Entering Latam’s Market by e-Commerce
At a roundtable luncheon on 11 December, Anson Bailey, Head of Consumer & Retail, ASPAC and Head of Technology, Media & Telecoms in Hong Kong, KPMG, said Latin America’s e-commerce was primed to take off given its demographics and penetration of mobile phones. Key hurdles are currently distribution networks and also online payment options, which he said Mainland China also faced years ago before country’s cashless transformation took off. Louis Chan, Assistant Principal Economist of HKTDC Global Research team, also speaking at the event, shared his observations on a recent visit to Brazil regarding retail and e-Commerce in the country. Brazil and Mexico are the largest markets in Latam, but local players dominate the market due to payment barriers and logistics services.
2019/12/11
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Hong Kong's Smart City Blueprint: One Year On and the Road Ahead
Hong Kong may have been slow out of the gate when it comes to smart city development, but it is starting to catch up in areas like funding for innovation and technology, availability of data and cooperation between government departments. At a Chamber seminar on 2, April a panel of experts noted that Hong Kong has made considerable strides since the Smart City Blueprint was released a year ago, and shared their optimism that we are now on the right path.
Julian Vella from KPMG, Mark Lunt from JOS, Clube Ng from the Connected City Alliance and Keith Cheng from Siemens also discussed the results of a KMPG survey comparing five cities in the region – including Hong Kong -- and the crucial role that citizens play in the success of smart city development.
2019/04/02
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All You Need to Know About the Mainland's Individual Income Tax Reform
The Mainland’s Individual Income Tax law, which came into effect on 1 January, will have an impact on expats working in the PRC as well as companies with staff stationed there. The updated law includes changes to tax residency rules, taxing of bonuses, and the tax deductions available to expats in areas including housing and education. At a Chamber roundtable luncheon on 14 February, Daniel Hui, Kate Lai and David Chiu from KPMG discussed the impact these policies will have on employers and employees.
2019/02/14
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The Mainland's Individual Income Tax Reform – A Detailed Look at the Amendments and Its Implications on Individuals and Businesses
Changes to the PRC’s Individual Income Tax law are intended to reduce the tax burden on the working class, but the reforms could also give rise to a larger tax bill for foreign individuals working in the Chinese Mainland and increase compliance costs for employers. Daniel Hui and Kate Lai from KPMG spoke at a Chamber roundtable luncheon on 8 October to explain the amendments, which affect areas including tax residency and anti-avoidance measures. They also analyzed the potential impact on Hong Kong employers that have operations across the border and their non-Mainland domiciled employees.
2018/10/08
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Challenges of Smart City Transformation
Hong Kong has grand plans to transform itself into a smart city, but what are the hurdles that will have to be overcome in order to realise these aspirations? At a Chamber seminar on "Connecting Hong Kong － Perspectives on Our Future as a Smart City," members learned more about these challenges and what Hong Kong needs to do to address them.
2018/05/15
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