PwC China

As a sustainable business, #PwCChina is leading by example through our environmental commitments, collaborations and conversations. We are honoured to join the Hong Kong Sustainable Aviation Fuel Coalition (HKSAFC) with the aim of decarbonising the #aviation industry. Launched by Business Environment Council (BEC), the programme strives to accelerate the deployment of credible #SAF, contributing to Hong Kong’s low carbon economy transition and national goal on #carbonneutrality. With support and contribution from the coalition partners, BEC announced the release of its Policy Whitepaper on SAF Strategy for Hong Kong, outlining critical recommendations on the roadmap and solutions for the transition to upscale the development of SAF in the region. Read the full Policy Whitepaper here: https://lnkd.in/gsetD2eg #PwC #SustainableAviation #NetZeroFuture #Sustainability

The third quarter of 2024 saw China implement significant stimulus measures to bolster growth and address structural challenges. Our latest report delves into the Q3 data and new stimulus measures, providing timely insights for businesses operating in China. Discover more in our latest report: https://lnkd.in/gSXCgCav #PwC #PwCChina #ChinaEconomy #StimulusMeasures

2024 marks the 11th year since the launch of the Environment, Social and Governance (#ESG) Reporting Guide by Hong Kong Exchanges and Clearing Limited (HKEX), which implies the ESG information disclosure of Hong Kong listed companies has entered a new phase of becoming more comprehensive and mature. In April 2024, #HKEX released the Consultation Conclusions on Enhancement of Climate-related Disclosures Under the ESG Framework, aiming to facilitate climate-related disclosures by listed companies.   Our latest ESG Reporting Study for Hong Kong listed companies reveals that the level of disclosure in listed companies' ESG reports has been increasing. Listed companies are actively responding to new climate requirements and are establishing a climate-related disclosure frameworks. Furthermore, biodiversity and nature-related disclosures are gradually becoming key areas of corporate sustainable development. Find out more about how Hong Kong listed companies understand and comply with the ESG Reporting Guide, as well as strategies for further enhancing their ESG management and disclosure capabilities: https://lnkd.in/gnHTnW9s Amy Cai Kanus Yue Cyrus Cheung #PwC #PwCChina #PwCHK #Sustainability #ESGreporting

As the exclusive Knowledge Partner to sit on the judging panel, #PwC attended the TVB ESG Awards Ceremony held on 13 December in Hong Kong to celebrate the remarkable achievements in #ESG practices and #sustainability development of the awarded companies and organisations.   The officiating guests, Mr. WONG Wai Lun, Michael, GBS, JP, Deputy Financial Secretary, Mr. CHAN Ho Lim, Joseph, JP, Under Secretary for Financial Services & the Treasury, and Mr. WONG Chuen Fai, JP, Commissioner for Climate Change, Environment and Ecology Bureau, delivered insightful keynote speeches, and presented awards of ‘Outstanding ESG Award’, ‘Best in ESG Practices’, ‘Best in ESG Report’, ‘ESG Environmental Innovative Technology Award’, ‘ESG Social Innovative Technology Award’ and ‘Greater Bay Area ESG Excellence Enterprise Award’ alongside the judges. Ms Loretta Fong, PwC China Sustainability Assurance Leader, was the moderator of the outstanding ESG awardees sharing session. She highlighted that everyone matters to achieve #netzero. In order to achieve the goal of #carbonneutrality, government organisations, as well as large, medium, small and micro-sized enterprises are pivotal to participate and collaborate in the transformation journey. PwC has been an ardent support throughout TVB’s ESG series as the knowledge partner, including the ESG awards, Green Forum and Green Summit, providing intellectual insights and points of view, and bridging the gaps between various stakeholders in the ESG ecosystem with quality solutions.   Once again, we extend our heartfelt congratulations to all the awardees and look forward to seeing more businesses and organisations embracing ESG practices. Together, we can contribute to building a more sustainable future.   #PwC #PwCChina #TVBESGAwards

Recently, 220 C-suite executives from China's #retail and #consumer goods sectors gathered at #PwC in Shanghai to discuss the future of retail. This event, organised in collaboration with various chambers of commerce from Australia, Benelux, Denmark, and Sweden, featured insights from 19 industry experts. Here are the key takeaways: 1. China's consumer market is experiencing a K-shaped divergence, characterised by increased price sensitivity and a growing demand for high-end products. 2. Multinational corporations (MNCs) must stay committed to China, as neglecting the Chinese retail environment may impact their success in other markets. 3. China is on the brink of an AI-driven revolution in both online and offline retail 4. Companies are facing rising compliance costs related to personal information protection, ESG requirements, digital invoicing, and a cleaner regulatory environment. MNCs should explore ways to transform these costs into enhanced brand trust and premium pricing. 5. Retailers must continuously adapt to stay relevant, requiring organisational and operational changes. 6. Offline retail is embracing innovative concepts that go beyond traditional brick-and-mortar formats. 7. Successfully operating an omnichannel model in China requires differentiating between online and offline offerings and leveraging the unique strengths of each. 8. Technology can enhance customer experiences through personalisation, remote selling, and improved after-sales service, but it may also create barriers. 9. Knowledgeable personal engagement is a key advantage of physical retail. 10. Retailers should adapt their strategies to prioritise immediate profitability while planning for long-term relevance. 11. Domestic retailers are now competitive with MNCs, which must adapt their global strategies and tailor them for the local market 12. With increasing diversity in consumer segments in China, retailers need to address the needs of well-defined micro-audiences. 13. Customisation and personalisation in products, services, and customer journeys have become essential. Chinese consumers are accustomed to sophisticated retail offerings. Prioritising focus areas and #innovation requires careful consideration. With our expertise, our retail and consumer markets professionals help you establish a clear vision for your business and deliver on it with an unwavering focus on customers. Explore our latest insights and recommendations from the 'Voice of Consumer Survey 2024': https://lnkd.in/gCdgsDt9 Jeff Yuan Anita Peng Jacob Johansen #PwCChina #ConsumerMarkets #RetailMarkets

We were pleased to recently host an engaging and enjoyable evening at the PwC Hong Kong Banking CFO Roundtable Dinner, centred around the theme of ‘Sharing Challenges and Good Practices for the Implementation of the New Basel III Reform.’ The dinner event kicked off with opening remarks from our Banking and Capital Markets Leader, James Tam. Special thanks to our financial services (FS) partners – Brian Yam (FS Regulatory Reporting Partner), Jeff Lee, CFA, FRM (FS Risk Consulting Partner), and Henry Cheng (Senior Advisor) – for their valuable insights and observations on the Basel III Reform implementation. We also appreciated Peter El Khoury (Risk Partner) and his director Jamie Baughan from PwC UK for their informative demonstration of the regulatory reporting dashboard, which leverages #GenAI and technology. Additionally, Chris Mo (Digital Trust & Risk Partner) provided valuable perspectives on the risks and controls associated with GenAI. The engaging discussions fostered a deeper understanding of the challenges and good practices in navigating these critical regulatory reforms. The contributions from all banking CFO and finance controllership participants and speakers sparked meaningful dialogue, and we look forward to exploring these vital topics in the upcoming events! #PwC #PwCChina #BankingCFO #Banking #Innovation #RegulatoryReporting #BaselIIIReform

#PwCHK hosted a Non-Executive Director Luncheon with a focus on the future of regulated #stablecoins and their potential impact on Hong Kong’s payment landscape.   Subsequent to a warm welcome by our senior advisor Colin Shaftesley, our Digital Assets Leader, Peter Brewin, alongside our esteemed guest speaker, Patricia Cheung, Chief Operating Officer of IDA dived into the emerging #fintech ecosystem and the anticipated regulatory framework set to be introduced in 2025. A run through of the key real economy use cases of stablecoins and the new #web3 payments ecosystem and its significance in today’s #digital economy were interactively discussed. They also provided highlights on the Hong Kong Monetary Authority’s proposed measures to regulate these innovations while the Stablecoins Bill was gazetted earlier the same day coincidentally! We are excited about the opportunities that lie ahead and remain committed to supporting our clients as they navigate this evolving landscape. Thank you to all who attended and contributed to the discussion!   #PwC #NEDProgramme

PwC Hong Kong recently hosted the Non-Executive Director for Banks Forum Luncheon to explore the theme ‘GenAI – Realising the Transformational Benefits of GenAI Whilst Balancing the Inherent Risks.’ Hosted by our Banking and Capital Markets Leader, James Tam, the event featured valuable insights on regulatory perspectives and industry trends from our PwC partners on GenAI, Pradip Madhanagopal (RegTech & AI Partner) and Chris Mo (Digital Trust & Risk Partner). The cross-industry panel discussion, expertly moderated by Pradip, featured executives as guest speakers from the banking and telecommunication industry. Thought-provoking conversations explored how to balance the advantages and risks of GenAI, with contributions from James Lee (Data & AI Consulting Partner). The rich discussions and diverse perspectives fostered a deeper understanding of these crucial topics.   Stay tuned for future events as we continue to explore the evolving landscape of digital banking and transformation!   #PwC #PwCChina #PwCHK #GenAI #BankingForum #Innovation #Networking

Benson Wong, PwC Hong Kong Entrepreneurial Group Leader and Assurance Partner, and Michelle Taylor, Partner at Tiang & Partners, served as panel moderators at the Business of IP Asia Forum 2024, jointly organised by the Hong Kong SAR Government and Hong Kong Trade Development Council. Michelle led a session on ‘IP Valuation and Financing’ on the first day of the Forum. The panel shared best practice and explored the immense potential of integrating IP financing into mainstream business strategies. On the second day, Benson Wong moderated a panel discussing the myriad challenges faced by startups looking to launch and scale in today’s competitive environment. The panelists shared success stories and shed light on the support that is available to startups in Hong Kong, emphasising the collaborative ecosystem that fosters innovation and business growth. Benson Wong Michelle Taylor #PwC #PwCChina #BusinessofIPAsiaForum #IntellectualProperty #IP #Startups #Entrepreneurship

Meet Sun Haoxin, a 12-year-old Grade 6 student from Sun Jiyuan Hongbo School in Jiatan Town, Luyi County, Henan Province. His dream is to become a renowned scientist and make groundbreaking discoveries. Despite the limitations of rural education, his curiosity and dedication know no bounds. Watch our PwC Rural School Volunteer video for an intimate look at his world, his passion for science, and his quest for knowledge. Come celebrate the dreams that thrive in rural schools. Watch it here: https://lnkd.in/gPmiYZrH #PwC #PwCChina #PwCProud #EmpoweringMinds #InspiringChange #PwCRuralSchoolVolunteerProgramme