Professional Services

Medical and security risks have brought global players Control Risks and International SOS together as partners in professional services for over 10 years, including on the Belt and Road Initiative. Hong Kong provides a centre for Control Risks’ large business growth, says the firm’s Neal Beatty, while International SOS’s Lim Hui Ject views Hong Kong as “a mega operational hub”. 

Speakers:
Neal Beatty, Partner and General Manager, Control Risks
Lim Hui Ject, General Manager, Sales and Marketing, Asia, International SOS

Related Links:
Hong Kong Trade Development Council
http://www.hktdc.com

HKTDC Belt and Road Portal
http://beltandroad.hktdc.com/en/

Global special risks consultancy, Control Risks, is working in Hong Kong with international and Chinese mainland firms to ensure they are “secure, compliant and resilient,” says the company’s Neal Beatty. Client firm Environmental Resources Management (ERM) meanwhile works closely with Control Risks as it aims to solve sustainability challenges on the Belt and Road. Hong Kong is an important centre for such professional services, says ERM’s Piers Touzel.

Speakers:
Neal Beatty, Partner and General Manager, Control Risks
Piers Touzel, Country Manager, China, ERM

Related Links:
Hong Kong Trade Development Council
http://www.hktdc.com

HKTDC Belt and Road Portal
http://beltandroad.hktdc.com/en/

From Chinese mainland firms’ legal structuring to major project development in ASEAN and Russia, Hong Kong is proving a focus for Belt and Road-related financing and mergers and acquisitions, say partners from law firm Bryan Cave Leighton Paisner. The Greater Bay Area development plan is also seen as a “massive opportunity” for Hong Kong companies to play a key role in planning and governance.

Speakers:
Ian Ivory, Partner, Bryan Cave Leighton Paisner
Ilan Freiman, Partner, Bryan Cave Leighton Paisner
Cora Kang, Registered Foreign Lawyer PRC, Bryan Cave Leighton Paisner

Related Links:
Hong Kong Trade Development Council
http://www.hktdc.com

HKTDC Belt and Road Portal
http://beltandroad.hktdc.com/en/

The transparency and predictability of English law as practiced in Hong Kong underpin huge opportunities for developing Belt and Road projects and transactions, according to the co-authors of a book published by legal firm Bryan Cave Leighton Paisner. Also, the Belt and Road Initiative has built significant momentum in a short time to already prove very successful.

Speakers:
Ian Ivory, Partner, Bryan Cave Leighton Paisner
Ilan Freiman, Partner, Bryan Cave Leighton Paisner
Cora Kang, Registered Foreign Lawyer PRC, Bryan Cave Leighton Paisner

Related Links:
Hong Kong Trade Development Council
http://www.hktdc.com

HKTDC Belt and Road Portal
http://beltandroad.hktdc.com/en/

Dezan Shira & Associates (DSA) is a pan-Asia, multi-disciplinary services firm that provides professional consultation in accounting, auditing, taxation, IT and human resource management to multinational corporations and foreign investors.

DSA aims to assist and guide companies through the establishment, maintenance and expansion of their business operations in Asia. Their clientele is spread across many Belt and Road countries and regions including Hong Kong, mainland China, India, Vietnam, Indonesia and Singapore.

DSA used to run their internal data applications through a common network and IPSec VPN. However, after they installed a new large-scale Microsoft ERP system, the shared internet access was not sufficient to support a sound operation, and they found themselves in urgent need of more data security.

HKT devised a comprehensive virtual private enterprise network and internet service for DSA, that provided a high-quality, stable and speedy network connecting other regions.

HKT set up private networks for DSA at several core offices in the Greater China region, allowing interconnection and interoperability at various sites. Each branch enjoyed completely exclusive bandwidth, while DSA’s key ERP system was protected with high levels of privacy and stability of data transmission via HKT’s Quality of Service (QoS) and Flow Control Technology (CoS).

Enabled by HKT’s one-stop solution, DSA has managed to improve the user experience of their internal data applications. DSA now uses HKT’s Premium Internet services for all their mainland-based offices to resolve the issue of connection failure when staff access information from other regions from their offices in the Greater China region. HKT’s services have been well received by DSA staff, as speed has more than doubled when loading websites of other regions and transmitting documents online.

For example, the average data transmission delay between its Beijing office and other branches has been reduced from 120 to 40 milliseconds, with the packet loss ratio dropping from the previous 10% to close to zero*.

With HKT’s support, DSA’s is expanding rapidly, and offering comprehensive foreign investment services for multinational companies looking to enter Belt and Road markets.

*Remarks: All test results were provided by DSA

Contact us:
http://www.hktchina.com/contact-us.php?lang=En

Online actuarial expertise offered by Hong Kong’s JPWALL for insurance companies tackles risk factors across the Asia Pacific and Belt and Road Initiative – given that “InsureTech” is a hot word in the industry – says Group Managing Director, Jeremy Wall. He says actuarial requirements for Belt and Road risk analysis are growing, while Senior Partner Duncan Spooner says potential business is “immense”.

Speakers:
Jeremy Wall, Group Managing Director, JPWALL
Duncan Spooner, Senior Partner, JPWALL

Related Links:
Hong Kong Trade Development Council
http://www.hktdc.com

HKTDC Belt and Road Portal
http://beltandroad.hktdc.com/en/

In addition to partnering and collaborating on infrastructure projects, such as building ports, roads and bridges, countries and regions involved in the Belt and Road Initiative have also agreed to synergise medical research and epidemic prevention efforts, which fit with the Belt and Road objectives of promoting cooperation, mutual learning and mutual benefits.

A good example of Belt and Road cooperation involving Hong Kong is the comprehensive Asia Pacific Viral Hepatitis Policy Survey, which published its findings earlier in 2017. The extensive survey, the first to be conducted since 2012, was carried out by the Centre for Global Health under the School of Public Health and Primary Care, Chinese University of Hong Kong (CUHK CGH), with the support of the Coalition to Eradicate Viral Hepatitis in Asia Pacific (CEVHAP), an independent, multidisciplinary non-profit organisation dedicated to hepatitis policy advocacy.

A key aim of the survey was to evaluate the systems and preparedness of Asian governments in the goal to eliminate viral hepatitis by 2030. China’s President Xi Jinping and former World Health Organisation (WHO) Director General Margaret Chan agreed to bring a global health focus to economic development, starting with Belt and Road countries. The countries and territories surveyed included Australia, Bangladesh, China, Hong Kong, Indonesia, Japan, Malaysia, Myanmar, Pakistan, Philippines, Taiwan, Thailand and Vietnam. While globally millions of people have infected with viral hepatitis, the Asia Pacific region is home to the highest percentage of people whose lives are impacted by the virus. Termed by some as the "silent epidemic", estimates suggest that globally, viral hepatitis is responsible for more than a million deaths.

Having worked on hepatitis policy advocacy for a number of years, Elizabeth Fung, Senior Account Manager of FleishmanHillard (Hong Kong) said the international communications firm was ready to provide assistance again. Previously FleishmanHillard worked with various public sector organisations including the provision of communications support to CEVHAP. FleishmanHillard worked closely with CUHK CGH and CEVHAP to provide corporate communication services and helped to compile the final survey report. 

"Hong Kong is a key member of the wider Asia Pacific community, and as an agency based in Hong Kong, we want to contribute to the creation of a hepatitis-free future in Asia Pacific," Fung said. Hong Kong has a number of well-known health related research institutions. Hong Kong is also a globally recognised knowledge hub for public health and hepatology (the branch of medicine that incorporates the study of liver, gallbladder and pancreas). "This means we have access to a research team more than capable of meeting international standards," said Fung who also points out that Hong Kong is a regional media hub, with over 50 international media with sizeable operations which contribute to international news coverage. "The presence of quality research partners and access to the media makes Hong Kong an attractive option for coordinating a regional survey," noted Fung.

Hong Kong-based Taiping Reinsurance is involved in risk assessment and abatement for multi-billion US dollar projects across the Belt and Road Initiative, including an oil extraction project in Myanmar, metro rail development in Malaysia and hydroelectric power in Pakistan. General Manager Polly Ho says the company is a “protection provider” for clients, while Hong Kong can build on its role as a re-insurance centre for international firms.

Speaker:
Polly Ho, General Manager, Taiping Reinsurance Co Ltd

Related Links:
Hong Kong Trade Development Council
http://www.hktdc.com

HKTDC Belt and Road Portal
http://beltandroad.hktdc.com/en/

King & Wood Mallesons (KWM) advised on the launch of the first sovereign wealth fund jointly established by China and the United Arab Emirates. The establishment of the fund will significantly strengthen the cooperation between China and the United Arab Emirates, promote collaboration on the Belt and Road strategy, and enhance the international cooperation on capacity and equipment manufacturing.   

The fund was jointly established by China Development Bank Capital Corporation Ltd (CDB Capital), the State Administration of Foreign Exchange, and Mubadala Development Company of Abu Dhabi. Launched in December 2015, the fund will invest into energy, infrastructure, high-end manufacturing, clean energy and other high-growth industries. 

This deal was innovative in the design of its establishment mode and investment strategy. The fund was established by the subsidiary investment institutions of each government, therefore requiring careful consideration of the policies on currency and foreign exchange. 

The investment advisor (IA) of the fund is based and operates in Hong Kong. Therefore, Hong Kong law was used as the governing law for all key fund documents for the IA, covering issues from internal compliance to the IA's daily operations. 

KWM acted as the PRC and Hong Kong legal counsels for CDB Capital. KWM provided a one-stop service including negotiations with sovereign parties, offshore analysis, fund structuring and fund formation advice, regulatory compliance requirements and anti-trust law related advice. 

KWM’s Hong Kong team of lawyers advised on a wide range issues in connection with the fund’s formation and its subsequent operations such as SFC license issues, leases, employment law issues, etc. Drawing on the experience of the KWM team (many of whom are qualified in both PRC law and common law jurisdictions), their bilingual language capabilities and knowledge of working with Chinese businesses, KWM was able to work seamlessly with the Chinese parties and the Middle East sovereign wealth fund.

This transaction was short listed for the award of “Innovation in Corporate & Commercial Law (Asia-Pacific headquartered law firms)” by the Financial Times Asia Pacific Innovative Lawyers 2016 Awards. The KWM team was led by Beijing partner Gong Mulong and Beijing/Hong Kong partner Helena Huang, with support from Hong Kong partner Guo Sun Lee and Beijing partners Liu Cheng, Liu Zhigang, Wu Wei and Tang Yingmao.

EY attaches great importance to the “One Belt, One Road” market, and its China Overseas Investment Network (COIN) spans ASEAN, South Asia, Middle East, Russia and Commonwealth of Independence States (CIS), Africa and Europe along the Belt and Road, providing one-stop services in assurance, tax, transaction and advisory areas. With its unique geographical advantage, outstanding bilingual skills and a high level of professional service, EY Hong Kong coordinates its Chinese and overseas teams together with integrated resources to provide an efficient and high quality service. EY Hong Kong has posted large numbers of its professionals on the Chinese mainland as well as in global locations to strengthen its services for Chinese enterprises.

EY has assisted a leading provider of automation and control technologies and applications based in China to acquire a group of companies based in Southeast Asia that provide mechanical and electrical solutions for industrial automation and rail transportation industries. Following the acquisition, its client has established a strong foothold in the fast growing Southeast Asia industrial automation and rail transportation fields, as well as leverages on a readily available channel to cross sell their existing products in this region. This transaction also allows its client to access a pool of capable, multilingual and professional workforce particularly in Singapore and Malaysia.

EY COIN network in the Middle East and North Africa (MENA) region also assists Chinese clients in different tax areas including transfer pricing development, local tax compliance and other tax operation matters. For instance, they provided full support to a Chinese energy enterprise with regional head office in the UAE for tax compliance and regulation in MENA region, which has driven the enterprise to reduce cost whilst at the same time demonstrating high value-added to its key business activities.