KPMG China

On 16 August 2024, the Stock Exchange of Hong Kong Limited published a consultation paper seeking market feedback on proposals to further expand the paperless listing regime. KPMG summarises the proposals in its latest Capital Market Update: https://lnkd.in/g-TWjS3Y #HongKong #CapitalMarkets

Despite the impact of extreme weather, China’s GDP still grew 5% year-over-year in H1 2024, hitting the target set during the Two Sessions. While Q2 experienced a dip in domestic demand and retail sales, there is optimism for moderate recovery in H2, with strengthened regional collaborations and an improvement in export demand. Read our latest China Economic Monitor for more details: https://lnkd.in/gVr4z9jj #China #Macroeconomics #ChinaEconomy

In The Second KPMG ESG 50 Awards • 2024, we are recognising achievements across six awards, organised within the four overarching themes—Environment, Social, Governance and ESG Empowerment.   For ESG Empowerment, we have introduced the “Sci-Tech Empowerment ESG Award” to award enterprises or institutions that have developed leading technologies and services in the field of ESG and that are promoting sustainable development through their resources, technologies, impact, etc. A scoring mechanism will be used to make selections under these different awards. Over the course of the selection process, KPMG looks forward to working with all sectors of the community to shape social trust and drive sustainable development.   Click to learn more about The Second KPMG ESG 50 Awards • 2024: https://lnkd.in/gdFEcEiD #ESG #Sustainability #Future50

Our latest flyer covers the Inland Revenue Department’s new FAQ document on the stamping of tenancy agreements, emphasising its implications for Hong Kong employers running rental reimbursement schemes: https://lnkd.in/giuBZu5C #IRD #TenancyAgreement #RentalReimbursement

Facing ongoing geopolitical complexity, businesses are increasingly wrestling with global supply chain and regulatory compliance challenges. At our recent Supply Chain and Trade Annual Seminar held in Hong Kong, KPMG partners Stanley Ho (何家辉) and Eugene Yeung (杨泽志) gave an opening speech in the Cantonese and English sessions respectively. Our expert speakers detailed the most recent regulatory updates and outlined strategies for dealing with the latest international trade regulations.   KPMG’s Harry Zhang (張浩煒) outlined key changes introduced by China’s Tariff Law, and discussed digital solutions that can help with compliance. He also addressed export controls and sanctions, recent updates to the US Country of Origin Rules by sharing the latest case studies and analyses. Stella (Xin) Jin (金鑫) shared the latest trends in customs classification and valuation while covering developments in China’s Authorised Economic Operator programme. 在持续复杂的地缘政治环境中，企业在全球供应链和监管合规面临着众多挑战。在近期于香港举办的毕马威2024年度供应链与国际贸易研讨会上，毕马威合伙人何家辉和杨泽志分别为广东话和英语场次致开场词。毕马威的贸易与海关专家详细讲述了监管制度的最新变化及趋势，并概述了应对最新国际贸易规定的合规策略。   毕马威的贸易与海关专家张浩炜 (Harry Zhang) 讲解了《中国关税法》最新修订情况，并探讨了数字技术在协助企业贸易合规方面的应用。他还介绍了出口管制与制裁政策和立法执法趋势，及针对美国原产地规则提供了详细的案例分析。金鑫 (Stella Jin) 也分享了海关分类与估值的最新趋势，详细介绍了中国海关高级认证企业制度的要点。 #InternationalTrade #Compliance #SupplyChain

On 14 August 2024, KPMG were humbled to have been invited by our #fraud and #cybercrime ecosystem allies to participate in Hong Kong’s first #privatepublicpartnership cyber exercise involving multiple agencies across 3 jurisdictions. KPMG together with the Hong Kong Police Force, the Macau Judiciary Police, Interpol, the Singapore Police Force, Cybersecurity Bureau as well as Critical Infrastructure agencies, formed a unified #ecosystem of over 140 participants that designed and simulated use cases, which required the sharing of information and coordination of efforts, in the event of an industry wide cybercrime event. Chad Olsen | Lilian Sin

The rising popularity of mobile messaging apps, video conferencing platforms and other communication channels for business communications has led to increased associated risks for financial institutions, for example on conduct, data privacy, confidentiality, and record keeping. To tackle these risks, regulators and industry participants have accelerated efforts in developing RegTech surveillance solutions to monitor and detect instances of misconduct. KPMG recently co-hosted an event “Enhance messaging compliance in the financial industry with A.I. automation” with HKT, LeapXpert and ASC Technologies, which saw KPMG’s Tom Jenkins discussing industry trends in strengthening surveillance of communication channels to meet regulatory expectations, as well as important considerations when adopting RegTech solutions. #RegTech #FinancialServices #RegulatoryCompliance

In The Second KPMG ESG 50 Awards • 2024, we are recognising achievements across six awards, organised within the four overarching themes—Environment, Social, Governance and ESG Empowerment.   Under the Social theme, we have launched the “Outstanding Social Pioneers Award” to honour enterprises that are actively promoting social equity, significantly contributing to the elimination of discrimination and the promotion of employment equality, or that are engaging closely with their communities to facilitate community development and improve people's livelihood.   Click to learn more about The Second KPMG ESG 50 Awards • 2024: https://lnkd.in/gdFEcEiD #ESG #Sustainability #Future50

香港金管局数据显示，虽然香港的虚拟银行到2023年已扩大用户基础至超过200万个账户，它们的重点仍在于建立长期的盈利能力。毕马威中国金融服务合伙人沈耀文表示，虚拟银行一般以中小企业及个人为目标客群，这类客户平均余额会相对较低，而个别虚拟银行是否能实现可持续发展，取决于他们能否实现收入来源多元化。按此阅读整篇新闻：https://lnkd.in/g33aTE3X Data from the HKMA shows that while Hong Kong’s virtual banks have expanded their user base to over 2 million accounts by 2023, their focus remains on building long-term profitability. “Virtual banks typically target small and medium-sized businesses as well as individuals. On average, the balances of these types of customers tend to be on the lower side,” says Simon Shum, Partner of Financial Services at KPMG China. Simon notes that diversifying revenue streams will be key for virtual banks to achieve sustainability. Read the full news story at: https://lnkd.in/g33aTE3X #VirtualBanks #OnlineBanking #DigitalBanking

We are delighted to announce 𝗘𝗮𝘀𝘆-𝗟𝗼𝗴𝗶𝗰 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 (𝗦𝗵𝗲𝗻𝘇𝗵𝗲𝗻) 𝗖𝗼., 𝗟𝘁𝗱 as the winner of the 2024 KPMG Private Enterprise Tech Innovator China Award! This year marked the third edition of this highly competitive event, showcasing a remarkable array of finalists from diverse industries and tech sectors across Mainland China and Hong Kong (SAR). Easy-Logic triumphed with their incremental design approach to digital chips, their industrial application of key technologies, and electronic design automation (EDA) tools. Congratulations! We also want to recognise and applaud our first runner-up, 𝗦𝗵𝗲𝗻𝘇𝗵𝗲𝗻 𝗔𝗻𝗬𝗶𝗞𝗼𝗻𝗴 𝗣𝗼𝘄𝗲𝗿 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 𝗖𝗼.,𝗟𝘁𝗱., and our second runner up 𝗡𝗮𝗻𝗝𝗶𝗻𝗴 𝗥𝗲𝗮𝘃𝗶𝘀 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆 𝗖𝗼., 𝗟𝗧𝗗. A hearty round of congratulations to all the finalists and participants – your talent and hard work have made this journey remarkable! KPMG China is committed to fostering the growth of the technological innovation ecosystem. We can’t wait to see what the next competition brings! Easy-Logic Technology (Shenzhen) Co., Ltd Shenzhen AnYiKong Power Technology Co.,Ltd (AYK Energy Ltd.) Nanjing ReaVis Technology Co., Ltd Atom Semiconductor Technologies Limited (Atom Semiconductor Technologies Ltd.) Blutech IoT Limited (blutech.io) BuyHive Limited (BuyHive) Cannex Technologies Limited Cencorp (Zhuhai) Industrial Technology Co., Ltd. Crowddigital (Xiamen) Information Technology Co., Ltd. Guangdong Guna Technology Insync Biomed LCC (Insync Biomed) LTZ Therapeutics (LTZ Therapeutics) PanopticAI Limited (PanopticAI) Regenerative Bio Limited (Regenerative Bio Inc.) Sourcy Global Limited (Sourcy) #GlobalTechInnovator #KPMGPrivateEnterprise #Congratulations