Invest in USA - Service Providers Directory 2014

投 資 美 國 指 南 及 服 務 商 名 錄

投資美國指南 及服務商名錄 Invest in USA Service Providers Directory

Invest in USA Service Providers Directory 2014

2014

www.amcham.org.hk

Invest in USA Service Providers Directory 2014 ŠCopyright April 2014 by The American Chamber of Commerce in Hong Kong ISBN 978-962-7422-21-1 ALL RIGHTS RESERVED. Reproduction in whole or part thereof, forbidden without written permission.

Note: While every care has been taken in preparing this book, no warranty is given or implied as to the accuracy of any of the contents. While all efforts were made to insure the accuracy of this information, details are bound to change from time to time and , therefore, companies intending to do business in Hong Kong should satisfy themselves on all matters.

PUBLISHED BY The American Chamber of Commerce in Hong Kong Suite 1904, 19/F Bank of America Tower 12 Harcourt Road Central, Hong Kong China Tel: (852) 2530 6900 Fax: (852) 3753 1206 Email: amcham@amcham.org.hk Website: www.amcham.org.hk Editor-in-Chief: Daniel Kwan Advertising Sales Manager: Regina Leung Listing Sales Representative: Cecilia Wong Design, Layout & Printing:

Speedflex Medianet Ltd 1/F Hua Qin International Building 340 Queen's Road Central Sheung Wan, Hong Kong

Contents

United States Commitment to Open Investment Policy

05

Message from US Consul General Clifford A. Hart

07

Message from AmCham Chairman Peter Levesque

09

“Open for Business” – US Acting Assistant Secretary of Commerce Judy R. Reinke

11

US Commercial Service Offices in China and Hong Kong

15

SelectUSA Official Contacts in US States and Territories

16

US State and Port Offices in Hong Kong

24

Why Invest in the United States?

26

Why Invest in the United States? (Chinese)

30

Key Lessons on US Tax Issues for Chinese Investors

32

Key Lessons on US Tax Issues for Chinese Investors (Chinese)

37

Communications Due Diligence for Foreign Investment

40

Communications Due Diligence for Foreign Investment (Chinese)

43

Setting Up Overseas Headquarters – Roles of Hong Kong

46

Setting Up Overseas Headquarters – Roles of Hong Kong (Chinese)

49

An Alphabetical Guide to Professional Service Providers

51

AmCham Advertisement FINAL.pdf 1 2014-03-07 3:08:22 PM

C

M

Y

CM

MY

CY

CMY

K

Barack Obama

Statement by President on United States Commitment to Open Investment Policy

T

he United States reaffirms our open investment policy, a commitment to treat all investors in a fair and equitable manner under the law, and I encourage all countries to pursue such a policy. My Administration is committed to ensuring that the United States continues to be the most attractive place for businesses to locate, invest, grow, and create jobs. We encourage and support business investment from sources both at home and abroad.

Investments by foreign-domiciled companies and investors create well-paid jobs, contribute to economic growth, boost productivity, and support American communities. The United States consistently receives more foreign direct investment than any other country in the world. By voting with their balance sheets, businesses from abroad have clearly stated that the United States is one of the best places in the world to invest. This is because we have a strong and open economy, the world’s most productive workforce, a unique culture of innovation and entrepreneurship, remarkable colleges and universities, and a business environment marked by transparency, protection of intellectual property, and the rule of law.

Inbound investment has long been an important component of our overall economy. Today, United States subsidiaries of foreign-domiciled companies employ more than 5 million Americans and provide above-average compensation.

These companies invest in innovation here in the United States, spending over US$40 billion each year on research and development. And in many cases the goods and services produced here are sold around the world, contributing to the National Export Initiative goal of doubling exports.

In a global economy, the United States faces increasing competition for the jobs and industries of the future. Taking steps to ensure that we remain the destination of choice for investors around the world will help us win that competition and bring prosperity to our people. Consistent with our national security and while ensuring a level playing field for American investors, we will do just that.

The White House, June 20, 2011

Investment Service Providers 2014

5

Your Partner for Investment Success

SelectUSA is a federal programme to showcase the United States as the world's premier business location and to provide easy access to federal-level programs and services related to business investment.

We help facilitate, accelerate and retain business investment in the US. Services are available to international and US firms, as well as US state, local or regional governments or economic development organizations. Specifically, they include:

Business Solutions

Advocacy

Facilitated Investment Mission

Ombudsman

Single Location Promotion

Economic Development Organization Counseling

To find out more about SelectUSA and its services, visit SelectUSA.gov or call (202) 482-6800.

Hong Kong and Macau contact person: Mr Gary Kwan, email: gary.kwan@trade.gov, Tel: (852) 2521-1467.

Message from US Consul General

Clifford A. Hart, Jr. I

am very pleased to congratulate AmCham Hong Kong on this initial publication of the 2014 Invest in USA Service Providers Directory. Since the beginning of my tenure in Hong Kong and Macau, attracting foreign direct investment to the US has been among my top priorities. AmCham and its over 1,700 members have been strong supporters of this initiative, and this publication reflects the deep expertise of AmCham’s members in identifying, exploring and executing on overseas transactions and investments.

There has never been a better time for foreign investors to invest in America. Over the past five years, Chinese investment in the US has grown at an average rate of 116 percent per year, making it America’s fastest growing source of foreign direct investment. Hong Kong is the conduit for over 60 percent of that investment. The total amount of FDI stock from Hong Kong into the United States is US$9 billion – and the deals keep coming.

President Barack Obama has made welcoming foreign investment one of his administration’s top priorities. I was pleased to lead a delegation of 14 Hong Kong-based companies to the SelectUSA Summit last year. An essential support to our Consulate’s efforts has been our Hong Kong-based SelectUSA Committee, which is actively supported

by AmCham Hong Kong. I am pleased that many of the SelectUSA’s committee members are included in this Directory.

The primary objective of the 2014 Invest in USA Service Providers Directory is to provide regional businesses with access to locally-based resources that can make those investments as efficient and productive as possible. AmCham and its member companies can offer expertise on a full range of investment advisory services including site selection, greenfield investments, M&A, valuation, human resources, and financial and tax planning.

I sincerely hope that you find this resource to be useful as you consider investments into the US. The US Consulate in Hong Kong and Macau as well as our colleagues throughout Mainland China are ready to help you find any information you may require as you consider a US investment.

Again, congratulations to AmCham Hong Kong on the 2014 Invest in USA Service Providers Directory! And best wishes for your successful investment in the US! Sincerely,

Clifford A. Hart, Jr. Consul General US Consulate General, Hong Kong and Macau Investment Service Providers 2014

7

Message from AmCham Hong Kong Chairman

Peter Levesque A

mCham has a long-standing tradition of working closely with the US Consulate in Hong Kong. The 2014 Invest in USA Service Providers Directory is both a manifestation of this close relationship and an example of how the Chamber contributes to strengthening economic ties between China and the United States.

For many decades, Hong Kong has been the favored gateway to Mainland China for tens of thousands of Western companies. Increasingly, Chinese enterprises are now finding that Hong Kong is the preferred place to engage experienced service professionals to assist with their expansion plans in overseas markets. Hong Kong has a huge talent pool – locals and expatriates alike – that is well versed in both Chinese and international business practices and eager to use their substantial expertise to assist companies going abroad.

After thirty years of economic reforms, China has fast-tracked into the second largest economy in the world. Thousands of Chinese companies – large and small, state-owned and private – are understandably keen to play a greater role in the international arena. What they seek is to develop brands, gain international market share, secure access to resources and talents, and sample the complexities of foreign marketplaces.

At the same time, the US is going through another phase of its own economic restructuring, and is seeking to further expand foreign investment in the country by opening its doors wider than ever before. The US offers a huge market that is also a rich environment for acquiring cutting-edge technology and business process expertise. A phenomenal result is that Chinese FDI into the US has been growing at its fastest pace in history.

This Service Providers Directory is designed to connect experienced service providers with potential Chinese investors interested in the US market. Investors can use this resource to find business partners, set up businesses, or simply learn more about the process and extraordinary opportunities in the US market.

Use this Directory to find service providers who can be your guide to business success.

Successful investing!

Peter Levesque 2014 AmCham Hong Kong Chairman

Investment Service Providers 2014

9

HKSTP_ad_148x210_v7b_outlines.pdf 1 2/25/2014 9:19:58 PM

Bringing Buildings ™

C

M

Y

CM

MY

CY

CMY

K

Judy R. Reinke

The US – “Open

for Business”

J

udy R. Reinke, Acting Assistant Secretary for Global Markets, US Department of Commerce (DOC), is responsible for attracting foreign investment to the US. On an official trip to Hong Kong in January 2014, she explains in an interview how the US remains a favorite destination for foreign direct investment and what services DOC can offer potential investors

AmCham HK: What services can SelectUSA provide investors interested in the US market?

Reinke: Any investors looking to invest in the US should consider making use of the free counseling services from SelectUSA. We understand that investment is time-consuming.

It’s not a light decision to invest millions – if not billions – of dollars. Investors have to do a lot of due diligence work, and they are looking for transparency, security and predictability.

We also understand that a company could be looking at multiple opportunities.

SelectUSA counselors can explain the specifics of different localities or the nature of a particular industry sector. We are, however, geographically neutral and do not promote one US state over another.

Investment Service Providers 2014

11

AmCham HK: How does SelectUSA work for Chinese investors?

Reinke: It begins with a meeting – here in Hong Kong or in any of the cities in China where we have our offices – that will enable us to understand what the Chinese companies try to achieve. Our services, which are free of charge, include preliminary consultations that will help answer many of the questions of the investors.

We can be part of the due diligence process and give investors a higher level of confidence in making their decisions. SelectUSA can be of particular importance if there are regulatory matters involved because we can – in addition to providing a clear picture of the existing regulatory environment – interact with US government agencies at the federal level in resolving issues, whether they are about licensing requirements or approval procedures.

AmCham HK: Why should Chinese investors consider investing in the US? Reinke: The US is an economy of some 300 million people, and we have some 23 international free trade agreements. If an investor chooses the US as a platform for investment, his/her company is treated as an American firm. We don’t distinguish between a local and a foreign company. In other words, a foreign-invested company in the US is considered a local and an American company. It can avail of the terms of all those free trade agreements – giving them access to another 400 million people. So, by establishing your manufacturing platform in the US, you may gain access to over 700 million people around the world.

Low-cost of manufacturing is another reason why Chinese manufacturers should consider investing in the US. The US has turned a corner in terms of its manufacturing environment by introducing much more advanced manufacturing concepts, and as a result labor costs are very moderate compared with those in many other markets. At the same time, our workforce is highly skilled and productive – a factor that makes manufacturing in the US very cost effective.

And finally, energy costs in the US have gone down quite significantly. The big business news story of 2013 was the lowering cost of energy and growing domestic energy sources. Investors who invest in the US will be able to take advantage of all that.

AmCham HK: How easy or difficult is it to establish a business in the US? Reinke: It’s easy to set up a business in the US. We’ve intentionally created an environment that is open for business – if we may use that term. The registration process can be done usually in days versus months as in other markets. The regulatory burden for the initial investment is generally low and easy to navigate.

Once established, a company can start operation immediately. This is one of the reasons why investors surveyed by the global management consulting firm A.T. Kearny in their “2013 Foreign Direct Investment Confidence Index” have ranked the US the number one place to invest.

12

Investment Service Providers 2014

US Ambassador to China Gary Locke (front, center) with US Consul General Clifford Hart (front, 8th from left) at SelectUSA summit in Washington D.C., November 2013

AmCham HK: What advantages can Hong Kong offer to prospective Chinese investors?

Reinke: One of the reasons why I stopped in Hong Kong for this trip is to learn more about the roles of Hong Kong in relations to the rest of China. Hong Kong really does continue to have a hub environment that is very beneficial for foreign investors going into China and for Chinese investors going to the US. The financial services community here is incredibly professional and knowledgeable about investment opportunities – not just in the US or in China but worldwide. Investors should make use of Hong Kong’s service providers for their investment prospects around the world.

AmCham HK: What’s your comment on press reports suggesting that Chinese investment is not welcomed in the US? Reinke: We have moved beyond the period of ambiguity when there was a sense of unease over the sale of a major asset to foreign investors of any nationalities. The US – certainly at the federal government level and even at the individual level – recognizes that foreign investment creates jobs and that the investors are committed to the community.

Areas like South Carolina or Tennessee where Japanese or German investments were made in automobile plants have welcomed the cultural engagement, the employment and the partnership brought by those investments. The same is happening now as we see Chinese investment coming in. The Wanda Group which has invested in our entertainment business is one good example.

The US government is articulate in due diligence. Our due diligence – reviews by the Committee on Foreign Investment in the United States – is part and parcel of what any government would do to ensure a secure national economy. The bottom line is: there is definitely a mood swing in the US in favor of supporting foreign investment which creates jobs, expands our country’s economy, and creates global ties.

Investment Service Providers 2014

13

MORE THAN 200 FIRST-TIER RANKINGS U.S. News-Best Lawyers ® With more than 200 national and metro area rankings combined, K&L Gates was noted for a fourth consecutive year among the top two law firms in the U.S. with the most first-tier rankings in the 2014 “Best Law Firms” survey. Our firm earned 170 first-tier rankings in 18 metropolitan and state areas, and was recognized with national first-tier rankings in 36 practices.

We are also proud to be the largest fully integrated U.S.-based law firm in the Asia Pacific region with 400 lawyers in 11 offices, including four in China.

K&L Gates LLP. Learn more about how we can help your inbound or outbound business at klgates.com.

Contact Details

of US Commercial Service Offices in China and Hong Kong

US Commercial Service - Beijing

US Commercial Service - Shanghai

Address: No 55 An Jia Lou Road, Chaoyang District, Beijing 100600, China Tel: (86-10) 8531-3000 Fax: (86-10) 8531-3701 Email: Office.Beijing@trade.gov

Address: Shanghai Center, Suite 631, 1376 Nanjing West Road, Shanghai 200040, China Tel: (86-21) 6279-7630 Fax: (86-21) 6279-7639 Email: Office.Shanghai@trade.gov

(Covers provinces of Beijing, Tianjin, Hebei, Shandong, Shanxi, Henan, Shaanxi, Jiangxi, Ningxia, Gansu, Qinghai, Xinjiang)

(Covers provinces of Shanghai, Anhui, Jiangsu, Zhejiang) US Commercial Service - Chengdu

US Commercial Service - Guangzhou Address: 43 Huajiu Road, Zhujiang New Town, Tianhe District, Guangzhou 510623, China Tel: (86-20) 3814-5000 Fax: (86-20) 3814-5310 Email: Office.Guangzhou@trade.gov (Covers provinces of Guangdong, Guangxi, Fujian, Hainan, Hubei, Hunan) US Commercial Service - Shenyang Address: 52 Shi Si Wei Road, Heping District, Shenyang, Liaoning 110003, China Tel: (86-24) 2322-1198 Fax: (86-24) 2322-2206 Email: Office.Shenyang@trade.gov

Address: 4 Lingshiguan Lu, Renmin Nanlu Section 4, Chengdu, Sichuan 610041, China Tel: (86-28) 8558-3992 Fax: (86-28) 8558-9221 Email: Office.Chengdu@trade.gov (Covers provinces of Chongqing, Sichuan, Yunnan, Guizhou, Tibet) Â US Commercial Service - Hong Kong Address: American Consulate General Hong Kong, 26 Garden Road, Central, Hong Kong (SAR) Tel: (852) 2521-1467 Fax: (852) 2845-9800 Email: Office.HongKong@trade.gov (Covers Hong Kong SAR and Macau SAR)

(Covers provinces of Heilongjiang, Jilin, Liaoning, Inner Mongolia)

Investment Service Providers 2014

15

SelectUSA Contact List – State Designated Investment Officials* ALABAMA 阿拉巴馬 Official Office Email

: Linda Swann : Alabama Development Office : linda.swann@ado.alabama.gov

Tel. Address Website

: 1-334-353-0221 : 401 Adams Avenue, Montgomery, AL 36130 : http://www.ado.alabama.gov

Tel. Address

: 1-907-269-7455 : 550 West 7th Avenue, Suite 1700 Anchorage, AK 99501 : http://www.alaska.gov

ALASKA 阿拉斯加 Official Office Email

: Cindy Sims : Anchorage Office of the Governor : cindy.sims@alaska.gov

Website

ARIZONA 阿里桑那 Official Office Email

: Sandra Watson : Arizona Department of Commerce : sandraw@azcommerce.com

Tel. Address Website

: 1-602-228-7593 : 333 North Central Avenue, Suite 1900 Phoenix, AZ 85004 : http://www.azcommerce.com

Tel. Address Website

: 1-501-682-2052 : 900 West Capitol, Little Rock, AR 72201 : http://www.arkansasedc.com

Tel. Address Website

: 1-916-322-0596 : 1400 N Street, Second Floor Sacramento, CA 95814 : http://www.business.ca.gov

Tel. Address Website

: 1-303-892-3857 : 1625 Broadway, Suite 2700, Denver, CO 80202 : http://www.advancecolorado.com

Tel. Address Website

: 1-860-270-8013 : 505 Hudson Street, Hartford, CT 06106 : http://www.ct.gov/ecd/

Tel. Address

: 1-302-577-8285 : 820 N. French Street, 4th Floor Wilmington, DE 19801 : http://itc.sos.delaware.gov

ARKANSAS 阿肯色 Official Office Email

: Becky Thompson : Arkansas Economic Development Commission : bthompson@arkansasedc.com

California 加利福尼亞 亚 Official Office Email

: David Bolognesi : State of California’s Office of the Governor : david.bolognesi@gov.ca.gov

Colorado 科羅拉多 Official Office Email

: Sandi Moilanen : International Investment & Initiatives : sandi.moilanen@state.co.us

Connecticut 康涅狄格 Official Office Email

: Beatriz Gutierrez : CT Dept of Econ and Community Development : beatriz.gutierrez@ct.gov

Delaware 特拉華 Official Office Email

: Andrea Tinianow : Department of State : andrea.tinianow@state.de.us

Website

16

Investment Service Providers 2014

DISTRICT OF COLUMBIA 哥倫比亞特區 Official Office Email

: Victor Hoskins : Mayor’s Office : victor.hoskins@dc.gov

Tel. Address Website

: 1-202-727-3971 : 1350 Pennsylvania Ave, NW Suite 317 Washington, DC 20004 : http://dcbiz.dc.gov

FLORIDA 佛羅里達 达 Official Office Email

: Manny Mencia : Enterprise Florida : mmencia@eflorida.com

Tel. Address Website

: 1-305-808-3660 : 201 Alhambra Circle, Suite 610 Coral Gables, FL 33134 : http://www.eflorida.com

GEORGIA 佐治亞 亚 Official Office Email

: Kathe Falls : Georgia Department of Economic Development : kfalls@georgia.org

Tel. Address Website

: 1-404-962-4120 : 75 Fifth Street N.W., Suite 1200 Atlanta, GA 30308 : http://www.georgia.org

Tel. Address Website

: 1-808-586-2355 : P.O. Box 2359, Honolulu, HI 96813 : http://www.hawaii.gov/dbedt

Tel. Address Website

: 1-208-334-2650 ext 2116 : 700 West State Street, Boise, ID 83720 : http://www.idahoworks.com

Tel. Address Website

: 1-312-814-9663 : 100 W. Randolph, Suite 3-400, Chicago, IL 60601 : http://www.illinoisbiz.biz

Tel. Address

: 1-812-390-4816 : One North Capitol Ave., 7th Floor Indianapolis, IN 46204 : http://www.iedc.in.gov

HAWAII 夏威夷 Official Office Email

: Richard Lim : Dept. of Business, Economic Dev and Tourism : director@dbedt.hawaii.gov

IDAHO 愛達荷 Official Office Email

: Damien Bard : Economic Development Division : damien.bard@trade.idaho.gov

ILLINOIS 伊利諾斯 Official Office Email

: Rob Ginsburg : Illinois Office of Trade and Investment - DCEO : rob.ginsburg@illinois.gov

INDIANA 印第安納 Official Office Email

: Kent Anderson : Indiana Economic Development Corporation : KeAnderson@iedc.in.gov

Website

IOWA 衣阿華 Official Office Email

: Beth Balzer : Iowa Department of Economic Development : beth.balzer@iowa.gov

Tel. Address Website

: 1-515-725-3111 : 200 East Grand Avenue Des Moines, IA 50309 : http://www.iowalifechanging.com

Investment Service Providers 2014

17

KANSAS 堪薩斯 Official Office Email

: Randi Tveitaraas Jack : Kansas Department of Commerce : rjack@kansascommerce.com

Tel. Address Website

: 1-785-296-7868 : 1000 S.W. Jackson St., Suite 100, Topeka, KS 66612 : http://www.kansascommerce.com

Tel. Address Website

: 1-502-564-7140 : 300 West Broadway, Frankfort, KY 40601 : http://www.thinkkentucky.com

Tel. Address Website

: 1-225-342-4323 : 1051 North Third Street, Baton Rouge, LA 70802 : http://www.opportunitylouisiana.com

Tel. Address

: 1-207-541-7400 : 511 Congress Street, Suite 100 Portland, ME 04101 : http://www.mitc.com

KENTUCKY 肯塔基 Official Office Email

: Mandy Lambert : Kentucky Cabinet for Economic Development : econdev@ky.gov

LOUISIANA 路易斯安那 Official Office Email

: John Voorhorst : Department of Economic Development : john.voorhorst@la.gov

MAINE 緬因 Official Office Email

: Janine Bisaillon-Cary : Maine International Trade Center : investinmaine@mitc.com

Website

MARYLAND 馬裡蘭 Official Office Email

: Robert Walker : MD Dept. of Business and Economic Development : rwalker@choosemaryland.org

Tel. Address Website

: 1-410-767-0680 : 400 East Pratt Street, 15th Floor Baltimore, MD 21202 : http://www.choosemaryland.org

MASSACHUSETTS 馬薩諸塞 Official Office Email

: C. Richard Elam : MA Office of International Trade & Investment : richard.elam@state.ma.us

Tel. Address Website

: 1-617-830-5401 : 212 Northern Avenue, E. Bldg 1, #300 Boston, MA 02210 : http://www.mass.gov/moiti

MICHIGAN 密執安 Official Office Email

: Mark Kinsler Tel. : MI Economic Development Corporation Address : kinslerm@michigan.org Website

: 1-517-335-4026 : 300 N. Washington Square, Lansing, MI 48913 : http://www.michigan.org

MINNESOTA 明尼蘇達 Official Office Email

18

: Kevin McKinnon : Dept. of Employment and Economic Development : kevin.mckinnon@state.mn.us

Investment Service Providers 2014

Tel. Address Website

: 1-651-259-7440 : 332 Minnesota Street, Suite E200 St. Paul, MN 55101 : http://www.positivelyminnesota.com

MISSISSIPPI 密西西比 Official Office Email

: John Henry Jackson : Mississippi Development Authority : jjackson@mississippi.org

Tel. Address Website

: 1-601-359-3155 : P.O. Box 849, Jackson, MS 39205 : http://www.mississippi.org

Tel. Address

: 1-314-725-0949 : 120 S. Central Avenue, Suite 1535 St. Louis, MO 63105 : http://www.missouripartnership.com

MISSOURI 密蘇裡 Official Office Email

: Dennis Pruitt : Missouri Partnership : dennis@missouripartnership.com

Website

MONTANA 蒙大拿 Official Office Email

: John Rogers : Governor’s Office of Economic Development : johnrogers@mt.gov

Tel. Address Website

: 1-406-444-5634 : State Capitol, P.O. Box 200801 Helena, MT 59620 : http://commerce.mt.gov

NEBRASKA 內布拉斯加 Official Office Email

: Catherine Lang : Department of Economic Development : catherine.lang@nebraska.gov

Tel. Address Website

: 1-402-471-3747 : 301 Centennial Mall South, 4th Floor Lincoln, NE 68509 : http://www.neded.org

Tel. Address Website

: 1-702-306-3832 : 808 W. Nye Lane, Carson City, NV 89703 : http://www.difersifynevada.com

Tel. Address Website

: 1-603-271-2341 : P.O. Box 1856, Concord, NH 03301 : http://www.nheconomy.com

Tel. Address Website

: 1-609-292-3863 : 225 West State Street, 3rd Floor Trenton, NJ 08625 : http://nj.gov/state/bac/

Tel. Address Website

: 1-505-827-0315 : 1100 St. Francis Drive, Santa Fe, NM 87505 : http://www.tradenm.com

NEVADA 內華達 Official Office Email

: Kristopher Sanchez : Nevada Governor’s Office of Economic Development : ksanchez@diversifynevada.com

NEW HAMPSHIRE 新罕布什爾 Official Office Email

: Roy Duddy : Dept. of Resources and Economic Development : rduddy@dred.state.nh.us

NEW JERSEY 新澤西 Official Office Email

: Lauren H. Moore, Jr. : New Jersey Business Action Center : lauren.moore@sos.state.nj.us

NEW MEXICO 新墨西哥 Official Office Email

: Edward Herrara : New Mexico Economic Development Department : Edward.Herrara@state.nm.us

Investment Service Providers 2014

19

NEW YORK 紐約 Official Office Email

: Edward Kowalewski : NYS Department of Economic Development : ekowalewski@esd.ny.gov

Tel. Address Website

: 1-716-846-8237 : 30 South Pearl Street, Albany, NY 12245 : http://www.esd.ny.gov

Tel. Address Website

: 1-919-733-8572 : 4310 Mail Service Center, Raleigh, NC 27699 : http://www.thrivenc.com

Tel. Address

: 1-701-328-5300 : 1600 East Century Avenue, Suite 2 Bismarck, ND 58502 : http://www.ndbusiness.com

NORTH CAROLINA 北卡羅來納 Official Office Email

: Martyn Johnson : North Carolina Department of Commerce : mjohnson@nccommerce.com

NORTH DAKOTA 北達科他 Official Office Email

: Paul Lucy : North Dakota Department of Commerce : plucy@nd.gov

Website

OHIO 俄亥俄 Official Office Email

: Mindy McLaughlin : Jobs Ohio : mclaughlin@jobs-ohio.com

Tel. Address Website

: 1-614-300-1355 : 41S High Street, Suite 1500 Columbus, OH 43215 : http://www.jobs-ohio.com

Tel. Address Website

: 1-405-815-5136 : 900 N. Stiles Avenue, Oklahoma City, OK 73104 : http://www.okcommerce.gov

Tel. Address Website

: 1-503-986-0106 : 775 Summer Street, NE Suite 200 Salem, OR 97301 : http://www.oregon4biz.com

Tel. Address Website

: 1-717-214-5324 : 400 North Street, 4th Floor, Harrisburg, PA 17120 : http://www.newpa.com

Tel. Address

: 1-401-278-9100 ext 139 : 315 Iron Horse Way, Suite 101 Providence, RI 02908 : http://www.riedc.com

OKLAHOMA 俄克拉何馬 Official Office Email

: Jessika Leatherbury : Oklahoma Department of Commerce : jessika_leatherbury@okcommerce.gov

OREGON 俄勒岡 Official Office Email

: Tim McCabe : Business Oregon : tim.mccabe@state.or.us

PENNSYLVANIA 賓夕法尼亞 Official Office Email

: Wilfred Muskens : Dept. of Community & Economic Development : wmuskens@state.pa.us

RHODE ISLAND 羅得島 Official Office Email

: Katherine Therieau : RI Economic Development Corporation : ktherieau@riedc.com

Website

20

Investment Service Providers 2014

SOUTH CAROLINA 南卡羅來納 Official Office Email

: W. Ford Graham : South Carolina Department of Commerce : fgraham@sccommerce.com

Tel. Address Website

: 011-49-8929-19170 : Brienner Strasse 14 80333, Munich, Germany : http://www.sccommerce.com

Tel. Address Website

: 1-605-367-4518 : 711 E. Wells Ave., Pierre, SD 57501 : http://www.sdreadytowork.com

Tel. Address Website

: 1-615-532-9821 : 312 Eighth Avenue N., 11th Floor Nashville, TN 37243 : http://state.tn.us/ecd/

Tel. Address Website

: 1-512-936-9405 : P.O. Box 12428, Austin, TX 78711 : http://www.governor.state.tx.us/ecodev

Tel. Address

: 1-801-538-8737 : 324 South State Street, Suite 500 Salt Lake City, UT 84111 : http://www.edcutah.org

SOUTH DAKOTA 南達科他 Official Office Email

: Steve Watson : Governor’s Office of Economic Development : steve.watson@state.sd.us

TENNESSEE 田納西 Official Office Email

: Kingsley Brock : TN Dept. of Econ. and Community Development : kingsley.brock@state.tn.us

TEXAS 得克薩斯 Official Office Email

: Clint Harp : Office of the Governor : clint.harp@governor.state.tx.us

UTAH 猶他 Official Office Email

: Aaron Neuenschwander : Governor’s Office of Economic Development : aneuenschander@utah.gov

Website

VERMONT 佛蒙特 Official Office Email

: Brent Raymond : Department of Economic Development : brent.raymond@state.vt.us

Tel. Address Website

: 1-802-828-1680 : One National Life Drive, 6th Floor Montpelier, VT 05620 : http://www.thinkvermont.com

Tel. Address Website

: 1-804-545-5760 : P.O. Box 798, Richmond, VA 23218 : http://www.yesvirginia.org

Tel. Address

: 1-206-256-6124 : 2001 6th Avenue, Suite 2600 Seattle, WA 98121 : http://www.choosewashington.com

VIRGINIA 弗吉尼亞 Official Office Email

: Pandy Brazeau : Virginia Economic Development Partnership : pbrazeau@yesvirginia.org

WASHINGTON 華盛頓 Official Office Email

: Allison Clark : Washington State Department of Commerce : allison.clark@commerce.wa.gov

Website

Investment Service Providers 2014

21

WEST VIRGINIA 西弗吉尼亞 Official Office Email

: Stephen Spence : West Virginia Development Office : stephen.e.spence@wv.gov

Tel. Address Website

: 1-304-957-2067 : State Capitol, Charleston, WV 25305 : http://www.wvopenforbusiness.com

Tel. Address Website

: 1-608-264-7821 : 201 W. Washington Avenue, 6th Floor Madison, WI 53703 : http://wedc.org

Tel. Address Website

: 1-307-777-2863 : 124 West 15th Street, Cheyenne, WY 82002 : http://wyomingbusiness.gov

Tel. Address Website

: 1-684-633-5155 : 2nd Floor EOB, Utulei, AS 96799 : http://americansamoa.gov

Tel. Address

: 1-671-647-4332 ext 113 : 590 S. Marine Corps Dr., Suite 511 Tamuning, GU 96913 : http://www.investguam.com

WISCONSIN 威斯康星 Official Office Email

: Scott Mosley : Wisconsin Economic Development Corporation : scott.mosley@wedc.org

WYOMING 懷俄明 Official Office Email

: Ben Avery : Wyoming Business Council : ben.avery@wyo.gov

AMERICAN SAMOA 美屬薩摩亞 Official Office Email

: Alex Zodiacal : American Samoa Department of Commerce : alex.zodiacal@doc.as

GUAM 關島 Official Office Email

: Carl Quinata : Guam Econ. Development Authority : cquinata@investguam.com

Website

NORTHERN MARIANA ISLANDS 北馬裡亞納群島 Official Office Email

: Sixto K. Igisomar : Department of Commerce : sec.igisomar@commerce.gov.mp

Tel. Address Website

: 1-670-664-3077 : Capitol Hill, Saipan, MP 96950 : http://www.commerce.gov.mp

Tel. Address

: 1-787-765-2900 : 355 F.D. Roosevelt Ave., Suite 401 Hato Rey, PR 00918 : http://www.ddecpr.com

PUERTO RICO 波多黎各 Official Office Email

: Alberto Bacó-Bagué : Dept. of Economic Development and Commerce : ablerto.baco@ddecpr.com

Website

VIRGIN ISLANDS 維爾京群島 Official Office Email

: Percival E. Clouden : Economic Development Authority : pclouden@usvieda.org

Tel. Address Website

: 1-340-714-1700 : 5055 Norre Gade #5, P.O. Box 305038 St. Thomas, VI 00802 : http://www.usvieda.org

* Last update: February 2014

22

Investment Service Providers 2014

Contact Information of US State and Port offices in Hong Kong* California Association of China & Hong Kong SAR Ltd Contact: Peter C. Yu Address: Suite 1908, 19th Floor, St. George’s Building, 2 Ice House Street, Central, Hong Kong Tel: (852) 6979-8620 Fax: (852) 3010-7633 Email: peter.yu@california.org.hk Website: http://cachk.foundry8.com

Contact: Ng Che Kan/Terry Yeung Address: c/o Ben Line Agencies (HK) Ltd, Room 2702 Bonham Trade Centre, 50 Bonham Strand, Sheung Wan, Hong Kong Tel: (852) 2893-4307 Fax: (852) 2893-4377 Email: terry@benline.com.hk Website: www.portofhouston.com

Enterprise Florida

State of Illinois – Far East Office

Contact: Amy Wendholt, Emma Yeung Address: 1903 Cambridge House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong Tel: (852) 2826-9388, (852) 2826-9335 Fax: (852) 2866-1917 Email: nchan@eflorida.com.hk Website: www.eflorida.com

Contact: Norman L. Li Address: Room 2808 Wu Chung House, 213 Queen’s Road East. Wanchai, Hong Kong Tel: (852) 2544-3863 Fax: (852) 2543-6246 Email: info@illinoishongkong.org.hk Website: www.commerce.state.il.us

Contact: Radley Mackenzie Address: 2102 CITIC Square, 1168 Nanjing Road West, Shanghai 200041, China Tel: (86) 21-5298-4668 Ext 263 Fax: (86) 21-5298-4669 Email : rmackenzie@eflorida.com.cn Website: www.enterpriseflorida.com Georgia Ports Authority Contact: Teresa Yuen Address: c/o Wilhelmsen Ships Services (HK) Ltd, Room 1807-1812, 18th Floor, Lu Plaza, 2 Wing Yip Street, Kwun Tong, Kowloon, Hong Kong Tel: (852) 2880-1612 Fax: (852) 2880-5048 Email: Teresa.Yuen@wilhelmsen.com Website: www.gaports.com

24

Port of Houston Authority

Investment Service Providers 2014

Illinois Department of Agriculture Contact: Hailey Hui Address: Room 2808 Wu Chung House, 213 Queen’s Road East, Wanchai, Hong Kong Tel: (852) 2504-0123 Fax: (852) 2576-5766 Email: idoahk@hkstar.com Website: www.agr.state.il.us Port of Long Beach Contact: Edward T. Yau Address: c/o United Transportation (HK) Ltd, Unit 1806, Bonham Trade Centre, 50 Bonham Strand, Sheung Wan, Hong Kong Tel: (852) 2881-5900 Fax: (852) 2890-1396 Email: utlyau@netvigator.com Website: www.polb.com

Port of Los Angeles

Port of Tacoma

Contact: William Ng Address: c/o Aquiline Project Services Ltd, Room 1005, 10th Floor, Nanyang Plaza, 57 Hung To Road, Kwun Tong, Kowloon, Hong Kong Tel: (852) 2766-2368 Fax: (852) 2362-1399 Email: billng@aquiline.com.hk Website: www.portoflosangeles.org

Contact: Bill H. Wong Address: c/o Kristian Jebsens Ltd, 15th Floor, Qualipak Tower, 122 Connaught Road West, Hong Kong Tel: (852) 2861-0068 Fax: (852) 2520-6785 Email: billw@krisjeb-ffl.com Website: www.portoftacoma.com

State of Missouri Department of Economic Development Missouri International Trade & Investment Office – Hong Kong Contact: Conrad Chan Address: Room 904, 38 Plaza, 38 Shantung Street, Mongkok, Hong Kong Tel: (852) 5808 0123 Fax: (852) 2448-1700 Email: CChan@pra-global.com Website: www.ded.mo.gov/exports State of North Carolina – Asia Pacific Office Contact: William W. Chu Address: Unit 902 Dominion Centre, 43 - 59 Queen’s Road East, Wanchai, Hong Kong Tel: (852) 2865-0555 Fax: (852) 2527-0819 Email: ncapo@netvigator.com Website: www.northcarolina-hk.com South Carolina Ports Authority Contact: Bob Greulich Address: 20th Floor, Hundred City Centre, No 7-17 Amoy Street, Wanchai Hong Kong Tel: (852) 6019-8113 Email: BGreulich@scspa.com Website: SCSPA.COM

Virginia Department of Agriculture Contact: David Wong Address: Room 1001 Nan Fung Tower, 173 Des Voeux Road, Central, Hong Kong Tel: (852) 2521-1022 Fax: (852) 2521-1082 Email: vdacshk@netvigator.com Website: www.vdacs.virginia.gov Virginia Economic Development Partnership Contact: Hailey M. Fong Address: Room 2209, 22nd Floor, 3 Lockhard Road, Wanchai, Hong Kong Tel: (852) 2862-8078 Fax: (852) 2862-8034 Email: hfong@yesvirginia.org Website: www.exportvirginia.org Virginia Port Authority Contact: Ringo Chi Address: Suite 2201, Tower Two, Times Square, Causeway Bay, Hong Kong Tel: (852) 3753-8868 Fax: (852) 3753-8989 Email: vpahkg@netvigator.com Website: www.vit.org

*Last updated in February 2014

South Carolina Regional Development Alliance Contact: Albert Holmes Address: c/o Ironwood Global Advisors Limited, 23rd Floor On Hong Commercial Building, 135 Hennessy Road, Wanchai, Hong Kong Tel: (852) 9280-2271 Email: albert@ironwood-global.com Website: http://ironwood-global.com Investment Service Providers 2014

25

Why

Invest in the United States?

I

n a very short period, the United States has seen substantial investments by firms as they recover from economic slowdown, experience an increase in capital availability, take advantage of innovations in advanced manufacturing and, perhaps most notably, benefit from a dramatic decrease in US energy costs.

An increase in the longterm sustainable supply of natural gas through technological innovation combined with energy produced by advanced, renewable, and traditional resources has vastly increased energy supply and lowered energy costs for firms.

Investors worldwide cite low-cost access to energy as a leading reason for renewing their exploration of the US market for advanced and energy-intensive activities. As a result, companies engaged in the exploration, production and transmission of energy are also growing their operations in the United States. Between 2008 – 2012, manufacturing FDI in integrated petroleum refining and extraction grew at an average annual rate of nearly 59 percent, followed by manufacturing of petroleum and coal products (nearly 47 percent) and basic chemicals (more than 38 percent). Similarly, FDI in professional, scientific, and technical services grew at an average annual rate of more than 16 percent during the same time period. According to the International Energy Agency (IEA), the price of natural gas in the United States is significantly lower than in European member countries of the Organization for Economic Cooperation and Development (OECD). These lower costs have helped attract over 10 percent annual growth in chemical manufacturing FDI, as well as 16 percent in professional, scientific, and technical services. The United States also ranks among the five largest sources of

26

Investment Service Providers 2014

proven natural gas reserves globally. It boasts an extensive network of energy pipelines – almost 200,000 miles of oil pipeline and over 1.5 million miles of gas pipeline to serve varied domestic and export markets.

In the long term, firms around the world invest in the United States to benefit from its transparent and predictable governance framework, unparalleled access to worldwide markets, strong protections for intellectual property rights, skilled workforce, and growing economy that is the largest in the world. In 2012, US real GDP was $15.5 trillion, which is $49,226 per capita. In the first two quarters of 2013, the US rate of GDP growth has exceeded expectations primarily due to positive contributions from personal consumption expenditures, exports, fixed asset investment, and inventory investment.

FDI in the United States is protected by its longstanding open investment policy, which in almost all sectors affords companies national treatment regardless of country of origin. This policy has been upheld by administrations throughout US history, with the latest statement on the US commitment to an Open Investment Policy issued by President Barack Obama in 2011. National treatment is a core obligation in bilateral investment treaties (BIT) entered into by the United States. The standard ensures that investors and investments receive treatment no less favorable than each treaty party accords to its own investors and investments within its own territory. The policy reinforces the US goal of being a top choice for investment.

In addition to a predictable governance framework, companies invest in the United States to access a high-quality supply chain and a robust consumer market. Throughout its value chain, the US transportation and energy infrastructure is a key strength for investors. As of 2010, the United States had over four million miles of highway, nearly 100,000 miles of railway, over 25,000 miles of navigable waterways, and nearly 20,000 airports. The United States is home to three of the world’s top 10 airports by cargo volume, including Memphis International Airport in Tennessee, the second busiest cargo airport (Anchorage, Alaska ranks 4th while Louisville, Kentucky is the ninth-busiest cargo airport).

Also, the United States is home to the world’s busiest international bulk cargo and container ports, with total volume exceeding 2 billion short tons.

Global firms also invest in the United States to improve their

Investment Service Providers 2014

27

access to worldwide markets. Overall, US exports span more than 230 worldwide destinations and support 9.8 million jobs (nearly 5,000 jobs per $1 billion in exports) and, in 2011, US subsidiaries of global firms exported nearly 20.5 percent of total US goods exports. These companies benefit from free trade agreements with 20 countries that the United States has entered into force, representing more than 695 million consumers.

Investors also benefit from a promising outlook in trade policy. The United States is pursuing a multilateral agreement with the European Union, as well as with economies in the Asia-Pacific region. If implemented, the agreements can provide global investors with US operations increased opportunities to benefit from standardization, protections, and the freer flow of goods and services to customers around the world. Not only are the potential Transatlantic Trade and Investment Partnership (TTIP) and the Trans-Pacific Partnership (TPP) signatories active US trade partners, they are among the largest and fastest growing sources of FDI in the United States. On one hand, the United States and EU member nations enjoy a longstanding bilateral investment relationship. Europe alone accounts for more than 63 percent of total FDI stock in the United States.

Similarly, Australia, Canada, and Japan (all potential TPP signatories) are among the 10 largest country sources of FDI in the United States. On the other, EU markets including Denmark, Hungary, Ireland, Luxembourg and Sweden, and potential TPP signatories like Malaysia have shown incredible growth in FDI to the United States. In a recent

28

Investment Service Providers 2014

study, Dartmouth University Professor Matthew Slaughter noted that the 12 potential signatories to the TPP represent the destinations for nearly $942 billion of current US goods exports. In addition, members of the EU that are potential signatories to the TTIP represent nearly half of global output and almost a third of global trade. Using available BEA (US Bureau of Economic Analysis) data, it is estimated that potential signatories to the TTIP and TPP represent at least 61 percent of current stock of direct investment in the United States.

Companies worldwide invest in the United States to take advantage of the creativity and entrepreneurship offered at an unparalleled scale. In addition to short-term and long-term trends that companies find attractive, technology and innovation, education and research, and a skilled and productive work force are specific factors that drive US economic success.

Excerpts from Foreign Direct Investment in the United States, International Trade Administration, SelectUSA, December 2013 Investment Service Providers 2014

29

投資 美国

為什麼

於全球各地的企業來說，美國是具有多方面優勢的投資目的地。其穩定而高 對透明度的管治架構、通往全球各個市場的門戶、和強大的知識產權保障等都

是它吸引外資的因素。而且美國是全球最大的經濟體系，2012 年的國民生產總值高 達 $15.5 萬億美元，2013 年首兩季的國民生產總值增長率均高過各方預期。 美國的經濟成就和實力，有賴於各行各業豐富的創意和企業家精神 。科技和各種新 發明迅速發展、優良的教育及學術研究，和良好質素與生產力高的勞動人口等條件 都提供給投資者極具競爭力的投資環境。美國政府奉行開放的投資政策，無論企業

來自哪個國家，均享受一致的國民待遇，此乃美國簽定的雙邊投資協議的主要承諾。 美國對投資者的另一吸引之處，乃在於其完善的硬件配套和產業供應鏈，特別是國 內的運輸和能源基建。以載貨量計，美國擁有全球十大機場中的三個；最繁忙的大 型國際貨櫃碼頭不少都在美國。外資選擇在美國投資，除了著眼於美國充滿活力的 本土消費市場，也希望藉著美國這個自由和開放的平台打入世界其他市場。美國的 出口營銷全球，遍及全球 230 個國家或地區。 近年美國國內能源成本大幅下調，吸引了全球各地的投資者紛紛到美國投資， 加 快 了 經 濟 復 甦 步 伐、 企 業 資 金 回 流、 和 高 級 生 產 技 術 的 提 升。 國 際 能 源 署

30

Investment Service Providers 2014

（International Energy Agency）數據顯示，美國的天然氣價格，遠較經濟合作與發 展組織（OECD）的歐洲成員國為低。美國是全球五大天然氣儲存量最豐富的國家之 一，擁有龐大的能源科技管道網絡。在 2008 至 2012 年間，綜合石油提煉及提取工 業的外國直接投資額，每年平均增長率達 59%，緊隨其後的是石油及煤產品制造業 （47%），以及基礎化學品制造業（38%）。 美國在國際貿易方面的前景亦甚為樂觀。美國目前正在爭取與歐盟及亞太地區簽定 多邊自由貿易協議，分別為《跨大西洋貿易與投資伙伴協議》 （Transatlantic Trade and Investment Partnership）和《跨太平洋伙伴關系協議》 （Trans-Pacific Partnership），兩 者均涉及美國的重要貿易合作伙伴，協議一經簽署，在美國有業務運作的外國投資 者，將會受惠於各種對其業務有利的規范和保障，各地的貨物和服務亦會更流通， 消費者將直接得益。 美國與歐盟長期以來保持著良好的雙邊投資關系，歐洲企業在美的投資額更占全美 外國直接投資總額的 63%，其他十大外國直接投資來源地包括澳大利亞、加拿大和 日本等可能簽署 TPP 的國家。早前美國達特茅斯學院（Dartmouth University) 一項研 究顯示，12 個可能簽署 TPP 的國家從美國進口的商品總值達 $94.2 億美元。美國經 濟分析局（US Bureau of Economic Analysis) 估計可能簽署 TTIP 和 TPP 的國家在美國的 直接投資額可占全美外國直接投資總額 61%。 節錄自 Foreign Direct Investment in the United States, International Trade Administration, SelectUSA, December 2013

Investment Service Providers 2014

31

Key Lessons on US Tax Issues for

Chinese Investors

By Lili Zheng Managing Director and co-leader, Deloitte APICE, Limited

A

s China is becoming the fastest growing foreign direct investor into the US with investments doubling from US$7 billion in 2012 to US$14 billion in 2013,1 it is important for Chinese investors to understand some of the major tax and financing considerations for investing in the US. These major considerations include but are not limited to: a) The US tax system b) US tax credits and financial incentives c) Investment & financing structure design with business model optimization d) Merger and acquisition (M&A) e) US compliance requirements The US tax system Before making an investment, a thorough understanding of the general US tax system would help determine proper return on investment and – more importantly – avoid surprises. Generally, taxes in the US are levied at three government levels – federal, state, and local. Corporations doing business in the US are subject to federal and state income taxes on a net basis with deduction of expenses allowed at progressive rates.

Corporate federal income tax rates range from 15 percent to 35 percent depending on the level of income, while state corporate income tax varies from 0 percent to 12 percent depending on the individual state.

Foreign investors’ capital gains from the disposition of shares in a US company is generally not subject to US tax unless it is attributable to its US permanent establishment, or the gains are from the disposition of US real estate property or shares of a US company with 50 percent or more value in US real estate. A 30-percent withholding tax applies to gross dividends, interest, and royalties paid from the US but may be reduced by an applicable income tax treaty. For example, the above payments from the US to Hong Kong would be subject to 30-percent withholding due to the lack of a treaty. Same payments from the US to China are subject to 10-percent withholding tax based on the treaty rate.

A company that sells products in the US generally has an obligation to collect ‘sales and

1

32

Investment Service Providers 2014

Chinese FDI in the US: 2013 Recap and 2014 Outlook http://rhg.com/notes/chinese-fdi-in-the-us-2013-recap-and-2014-outlook

use tax’ (SUT) from end users and remit to the local tax authorities. If the sale is to wholesalers, the company should collect the re-sale certificate to negate the SUT collection obligation. When the seller company fails to collect SUT from end users or re-sale certificates from wholesalers, it will be liable for the SUT regardless of its profitability.

Individuals earning income while working in the US generally are taxed at the federal and state levels. The federal and state income tax rates applicable to individuals are progressive up to 39.6 percent and 13.3 percent, respectively, depending on the level of income.

Long-term capital gains are taxed at a maximum rate of 20 percent for federal tax purposes. The 20-percent rate also applies to dividends received from domestic corporations and certain non-US corporations. A non-US individual (an individual who is not a US citizen or green card holder) is subject to US tax on his US source income if he spends 183 or more days in the US.2 US citizens and green card holders are subject to tax on their worldwide income (including income from China or elsewhere outside of the US).

US tax credits and financial incentives Companies investing in the US should have a site selection strategy that allows them to achieve their business objectives while optimizing available credits and incentives (C&Is). To stimulate investments, US federal and state governments offer many C&Is for companies investing into their jurisdictions. A few notable C&Is include: a) Federal and state research and development (R&D) credit, which allows a dollar-fordollar offset of tax liability for certain research expenses; b) Domestic manufacturing deduction, which allows manufacturers to exclude a portion of their income from qualified production activities in the US; c) Various tax credits and incentives in the clean technology sector such as federal renewable electricity production tax credit (PTC), etc; d) In addition to the federal tax credits, many states also offer employment tax credits based on hiring of new employees, financial subsidies, free use of land, property tax exemption or reduction, enterprise zone credits, etc.

It is important to understand the available C&Is (which vary by industry and location, and change frequently) when considering your investment and designing your business model as they may have major impacts on the cost-and-return of an investment.

Negotiating these benefits ahead of time during the site selection process is crucial.

2

The US tax statute prescribes a “look-back� rule such that if a non-US individual is present in the US on at least 31 days of the current calendar year, he will be classified as a resident alien if the sum of the actual days in the US during the current year, 1/3 of his days in the US in the immediately preceding year, and 1/6 of his days in the US in the second preceding year equals 183 days or more.

Investment Service Providers 2014

33

Investment and financing structure design with business model optimization Companies investing in the US need an efficient ownership structure, taking into account their business plans and objectives to minimize withholding tax implications and build in flexibility for future exits in a tax-effective manner. Restructuring after entering into the US is often more difficult and costly. An optimal ownership structure must be coupled with a business model that would allow the company to achieve its business objectives in an efficient manner. Furthermore, as each country may have its unique thin-capitalization rules, companies should consider these rules in financing their operations to avoid interest deduction disallowance. Using a proper amount of debt and equity for investment will help enhance efficient repatriation of profits in the future.

Merger & Acquisition M&A is another way for investors to expand into the US. Effectively managing the M&A process including legal, business, financial and tax due diligence, designing proper M&A investment & financing structure as well as post-merger integration are keys to success. Proper due diligence can help investors avoid major liabilities and uncover issues early. Understanding the appropriate government approvals would allow investors to save time in the process. Due to a special tax regime applicable to investments in US real property, per Foreign Investment in Real Property Tax Act (FIRPTA), the investment and financing structure for US real property investments may differ from that of other investment types.

Under FIRPTA, the sale of US real property by foreign investors is subject to a 10-percent withholding tax on the gross amount realized regardless of whether the seller realizes a gain or not. The foreign investor may follow the prescribed procedures to claim a refund in case where the withholding tax on the gross amount is greater than the net gain taxed at the progressive rate. Without understanding FIRPTA, a foreign investor may be paying tax while realizing a loss on the investment. With proper planning, the tax on disposition could be minimized.

Understand US compliance requirements A company investing in the US will have compliance obligations for federal, state, and local jurisdictions regardless of profitability. For example, Form 5472 (Information Return of a 25 percent Foreign-Owned US Corporation or a Foreign Corporation Engaged in a US Trade or Business) is a commonly missed form. A foreign investor owning 25 percent or more of a US corporation must file it. It is an information reporting requirement, and no tax is due thereon. However, a penalty of US$10,000 will be assessed on any reporting corporation that fails to file a Form 5472 in a timely manner. Thus, if the tax and reporting compliance requirements are not timely fulfilled, a company may be liable to a penalty while still being in a taxable loss position. The US has complex compliance reporting requirements, thus leveraging advice from qualified US tax experts on these filings could help investors speed up the learning curve and avoid unnecessary penalties.

34

Investment Service Providers 2014

Common pitfalls a) Investment structure – Companies investing overseas need to consider having an ownership structure that minimizes withholding taxes and builds in flexibility for future exits in a tax-effective manner. Restructuring afterwards is generally more difficult and costly, if not impossible. b) Business model and transfer pricing – With the implementation of China’s transfer pricing rules, the high level of scrutiny that the US tax authority places on intercompany transactions, and the US/China tax rate differential, it is important for companies to use a business model that has the least complication in transfer pricing issues and one that minimizes the overall costs. c) Thin-capitalization planning – The failure to consider thin-cap planning could increase the risk of interest deduction disallowance and increase overall tax cost. d) Maximizing incentives and credits – Similar to many countries, the US offers different tax and financial incentives to companies in different industries. Companies investing overseas should gain knowledge on the available C&Is during site selection and negotiate with the in-charge agencies in advance to make sure that C&Is are fully utilized. e) Tax compliance planning – Companies should address compliance issues upfront and understand their compliance obligations to avoid substantial penalties and negative impact on business. Penalties for the failure of fulfilling compliance requirements may apply without regard to the companies’ profitability.

Conclusion While the US tax system is complex with various issues to consider, the transparency of the rules, along with the vast body of adjudicated tax cases, allow taxpayers to plan ahead. While the US has high statutory tax rates, it also provides generous tax and financial incentives to companies operating in the US which effectively lower the overall effective tax rate. With proper advance planning, US tax cost on investment can be as competitive as any other developing countries. Preparation makes its own luck.

Investment Service Providers 2014

35

Whether you aim to buy or sell a business, raise capital, investigate fraud, improve performance or wind down operations, KPMG can due diligence, structure and help implement practical and commercial strategies to achieve your goals.

不论您是打算购买或出售一间公司、募集资金、调查舞弊、提升企 业表现或重组业务，毕马威都能通过尽职调查，设计和协助您执 行实用的商业策略来实现您的目标。 KPMG offers solutions that combine local flavour with international know-how. Let KPMG guide you in making responsible decisions with confidence, now and in the future.

毕马威能提供结合国际经验和本地知识的解决方案。让毕 马威从今以後协助您更有信心的作出重大商业决定。 For more information, please contact:

Rupert Chamberlain 張浩柏 Partner in Charge 主管合伙人 Transaction Services 投资咨询服务 KPMG China 毕马威中国 rupert.chamberlain@kpmg.com

kpmg.com/cn

2014InvestmentGuidetoUSAandServiceProvidersDirectoryAd v1_Bilingul.indd 1

© 2014毕马威国际合作组织 (“毕马威国际”) — 瑞士实体。毕马威独立成员所网络中的成员与毕马威国际相关联。毕马威国际不提供 任何客户服务。成员所与第三方的约定对毕马威国际或任何其他成员所均不具有任何约束力；而毕马威国际对任何成员所也不具有任 何上述约束力。版权所有，不得转载。毕马威的名称、标识和 “cutting through complexity” 均属于毕马威国际的注册商标。

Honson To 陶匡淳 Partner in Charge 主管合伙人 Transactions & Restructuring 投资和重组咨询服务 KPMG China 毕马威中国 honson.to@kpmg.com

© 2014 KPMG International Cooperative (“KPMG International”). KPMG International provides no client services and is a Swiss entity with which the independent member firms of the KPMG network are affiliated. The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International.

如需更多资讯，请联系我们：

06/03/2014 9:23:30 AM

投資美國 的稅務須知 鄭莉莉 德勤國際稅務中心（亞太區） 美國稅務執行總裁及聯席領導人

隨著中國逐漸成為在美增長最快的直接 投資者而投資值由 2012 年的 70 億美

元加倍增長到 2013 年的 140 億美元，1 理 解有關投資美國的稅務及融資考量對中國 投資者是很重要的。主要投資美國的考量 包括（但不限于）： a) 理解美國稅務系統 b) 理解美國稅務抵免及財政優惠 c) 投資，融資架構設計及商業模式優化 d) 合併與收購 e) 理解美國稅務合規要求 美國稅務系統

投資前，對一般美國稅制的理解有助確定適當的投資回報以及避免出乎 意料的意外。一般而言，美國的稅收由三級政府征收：聯邦政府，州政 府以及地方政府。在美經營的公司須就應稅收入在聯邦及州層面繳稅。 經營支出可抵扣收入。聯邦政府對美國企業采用 15% 至 35% 的累進稅 率，視乎收入水平，而州稅率為 0% 至 12% 之間，因州而异。 外國投資者出售美國公司股票所得的資本收益一般不須在美繳稅，除非 此資本收益源于在美常設機構或來自出售美國房地產或出售擁有 50% 或以上美國房地產的美國公司股票。將源于美國的股息，利息，以及特 許權使用費給外國人士或公司均以收入的總額為納稅基礎徵收 30% 的 預提所得稅。但稅務協定通常會降低 30% 的預扣稅率。舉例說，香港 公司來自美國股息收入須繳股息總額 30% 的預提所得稅，因美國和香 港之間沒有稅務協定。反之，如股息收入屬於中國公司，預提所得稅將 根據中美稅收協議減低至股息總額的 10%。 在美銷售的公司通常擔負代收由最終消費者承擔的銷售稅責任，其後將 銷售稅匯給有關稅局。如銷售給批發商，銷售公司則須向批發商索取轉 售證明書以免除代收銷售稅責任。如銷售公司一旦沒有向最終消費者代 收銷售稅或沒有向批發商索取轉售證明書，銷售公司則需負上繳交銷售 稅的責任，不論銷售公司是否有盈余。 在美工作賺取收入的個人一般須繳交聯邦及州收入稅。個人聯邦最高累 進稅率為 39.6% 而州最高累進稅率為 13.3%，視乎收入水平和所在州 而定。長期資本收益的最高聯邦稅率為 20%。對于源自美國公司或指

1

Chinese FDI in the US: 2013 Recap and 2014 Outlook, http://rhg.com/notes/chinese-fdiin-the-us-2013-recap-and-2014-outlook.

Investment Service Providers 2014

37

定外國公司的股息，20% 的稅率同樣適用。如果他在美國逗留 183 日或 以上，外國居民（即非美國公民或綠卡持有者）須就他源自美國的收入 繳交美國稅。2 美國公民以及綠卡持有者則須就他們的全球收入繳交美 國稅（包括其在華或世界各國的收入）。 美國稅務抵免及財政優惠 在美投資的公司應有選址策略。該策略能促使他們達成商業目標同時最 大限度地應用抵扣及優惠。聯邦及州政府為投資公司提供多種抵扣及優 惠從而鼓勵投資活動。一些顯著的優惠包括： a) 聯邦及州研發稅務抵免，以合符要求的研發費用計算，能等額抵消 稅負； b) 國內製造抵扣可為製造商扣除部分源自在美合符要求的生產活動之 收入； c) 多種適用于環保工業的稅務抵免及優惠，例如聯邦政府提供的再生電 源生產稅務抵扣等； d) 除了聯邦稅務抵扣，很多州政府也提供以雇用新員工為基礎的就業 稅收抵免，財政補貼，免費使用土地，財產稅豁免，企業區稅收抵 免等。 稅收抵免及優惠因行業和地點而异而且時常變化，故此當考慮投資以及 設計營運模式時，對適用稅收抵免及優惠的理解很重要。這些抵免及優 惠將會對投資成本和回報有很大影響。在作投資決定前及選址時必須跟 有關部門商議。 投資，融資架構設計及商業模式優化 投資美國的公司需要一個有效的投資架構，此架構須顧及商業計劃以及 目標，從而把預提稅影響減到最低以及對將來退出市場有靈活性。在投 資美國後進行架構重整是非常困難以及昂貴。一個最佳的架構配合一個 有效的營運模式能讓公司以稅賦上有利的方式達成商業目標。再者，由 于每個國家擁有獨特的資本弱化規則，公司應在為其運作提供資金時考 慮這些規則從而避免失去利息抵扣。以合適數額的貸款及股票形式投資 有助提升將來盈利匯返的有效性。 合併與收購 併購是擴展美國業務的另一方法。有效地管理併購過程，包括法律，商 業，金融以及稅務盡職調查，設計適當的併購投資和融資架構，及併購 後的整合是成功的主要要素。適當的盡職調查有助投資者避免主要債務 責任和在早期揭露問題。對所需政府批准的理解能為投資者節省時間。 《1980 年外國投資房地產稅法》 “FIRPTA”是應用于外國投資者在美投資 房地產的特別稅制。基于 FIRPTA，對房地產的投資及融資架構可能有別 與其他投資項目。根據 FIRPTA，外國投資者銷售美國房地產須應所得總 2

38

Investment Service Providers 2014

美國稅法采用“回顧”法計算 183 日逗留時期：如一外國居民于當前年份在美逗留至少 31 日，他將被視為美國居民外國人如他 (1) 當前年份留美實際天數，(2) 上一年留美天 數乘 1/3，(3) 上兩年留美天數乘 1/6 的總和等于 183 天或以上。

額繳交 10% 預提稅，無論是項投資是否有收益或虧損。此外國投資者 可根據美國稅法規定的步驟向國稅局索取退款如預提稅高于以實際收益 及累進稅率計算的稅額。如果外國投資者沒有充分理解 FIRPTA，他可能 在虧損的情況下也須支付稅款。適當的籌劃能把銷售房地產的稅負減到 最少。 理解美國稅務合規要求 一家投資美國的公司擔負著聯邦，州，地方稅收管轄權所定的合規責 任，不論此公司是否有盈余。舉例說，5472 表是一個常被忽略的報 表。擁有一家美國公司 25% 或以上的外國投資者須向國稅局提交此報 表。5472 表是一份資料報告，表上沒有要求繳交稅務。然而如沒有在 限期前提交，這家公司可被罰款一萬美元，儘管這家公司可能仍在虧損 狀態。因此，如果沒有按時遵從稅務合規要求，投資者可能被罰款的同 時營運上仍是虧損。美國的合規要求很複雜。聘用合資格的美國稅務專 家協助稅務合規性工作能使投資者加快學習如何投資以及避免不必要的 罰款。 國際投資者對稅務籌劃的常見誤解 a) 投資架構 – 企業在國際投資之前需要考慮投資結構，以減低預提稅的 影響。企業也應利用有效的稅務籌劃，來保證靈活的退出機制。投資 之後再進行架構重組會比較困難而且費用很高，有時重組甚至是不可 能的。 b) 營運模式及轉讓定價籌劃 – 考慮到中國轉讓定價管理條例，美國政 府對關聯公司交易管理日趨嚴謹，以及美國比中國更高的稅率，選擇 合理的商業模式，能最大限度地減少轉讓定價的影響以及降低總體成 本，對企業來說是至關重要的。 c) 資本弱化籌劃 – 沒有考量資本弱化籌劃會增加不能抵扣利息的風險從 而令整體成本提高。 d) 最大化優惠政策及抵減額 – 與很多發展中國家相似，美國對不同行業 的公司提供各種稅收及財政優惠。在美投資的企業需在選址過程中增 長稅務抵免及優惠的知識，跟有關部門在投資前商議，從而得到最大 的優惠。 e) 稅務合規籌劃 – 企業需要首先瞭解合規性問題及相關規定，以避免大 金額的罰款及其它負面影響。即使是營運虧損的公司也須就沒有符合 稅務合規要求而繳交罰款。 總結 儘管美國稅制複雜，而且需考量很多問題，美國稅法的透明度及大量已 裁定的訴訟案件容許納稅人提早籌劃。雖然美國的稅率比較高，但美國 政府慷概地為在美營運的公司提供稅務及財政優惠從而有效地降低整體 稅務成本。適當的預先籌劃能讓投資美國的成本跟投資其他發展中國家 同樣有競爭力。有備而戰開通邁向成功的道路。

Investment Service Providers 2014

39

Communications Due

Diligence

The Key to a Successful Foreign Investment

Bill Black Senior Partner, Global China Practice Lead FleishmanHillard

“D

ue diligence” – a concept familiar to all successful business people – is the process investors conduct to gather information before putting their money at risk. Knowing the history of a business, its profitability, the reputations of the current owners and the legal requirements surrounding an acquisition are just some of the things investors need to learn about before they put their money on the line. It is considered standard procedure – indeed, best practice – to spend time, money, and effort on due diligence, especially when investing abroad.

Unfortunately, many Chinese companies investing overseas neglect a critical aspect of due diligence: communications. Although legal and financial due diligence are considered standard procedure, communications due diligence is often set aside for later; sometimes, it is ignored completely.

Most Chinese companies investing abroad seek to do so quietly, without attracting much attention. This is a wise strategy, since visibility may draw criticism from local interest groups, competitors, or others with a stake in the outcome. But staying quiet requires planning and strategy; moreover, it requires some targeted communication to carefully selected stakeholders. Identifying and mapping those stakeholders is an important aspect of communications due diligence. There are other aspects of the process such as media analysis.

The process of identifying and mapping stakeholders is not complex. The first step is simply to categorize the people or groups who will be affected by, or simply care about, the planned investment. These can include customers, vendors, investors, community leaders, competitors, advocacy groups, and others. For each stakeholder category, companies should create a list of specific organizations or individuals who could influence the investment (either positively or negatively). Each individual or organization should then be given two scores: one measuring the impact this particular stakeholder could have on the investment and a second score measuring how easy or difficult it would be to influence that stakeholder’s opinion or behavior. After receiving a score, each stakeholder should be placed in the following chart.

40

Investment Service Providers 2014

Keep

High

Key Players

Impact on Business Goals

Satisfied

(Manage Closely)

Monitor

Keep Informated

A C

Low Difficult

B

D

Ability to Influence

Easy

How the investor approaches a given stakeholder will be determined by where the stakeholder appears on the chart. The most important stakeholders are those who have a great potential impact on the transaction, and who can be influenced with relative ease. These stakeholders appear in quadrant B and should be closely managed. The other three quadrants require less engagement. There is little to be gained from trying to win favor with stakeholders in quadrants A and C, since they cannot be easily influenced. Similarly, there is not much point in working with stakeholders in quadrant D, since they have little impact on the investment.

Consider the recent case of a Chinese investor who bought a hotel in New York. In an effort to save money, the investor imported foreign labor to work at the hotel. Some due diligence would have revealed that labor unions are very strong in New York. These labor unions have the power to disrupt projects and engage political leaders in ways that can create problems for businesses.

When the labor unions objected to the imported workers, the Chinese investor refused to negotiate with them. The unions complained to government regulators, slowing down the issuance of permits and making it harder for the hotel to begin operating. The project was delayed by four months, costing the investor millions of dollars.

Some basic stakeholder mapping, done in advance of the deal, would have revealed that New York’s labor unions were a quadrant B stakeholder: one with great potential impact on the investment, and relatively easy to influence through negotiations. Conducting those negotiations ahead of time would have saved the investor a lot of money.

The global mining company, Rio Tinto, took a different approach with a project in the US state of Michigan. Last year, the company proposed to open a mine in the northern part of the state. The mine was projected to produce 300 million pounds of nickel, 250 million pounds of copper and smaller quantities of other minerals. It was also projected to create 1,000 jobs for local residents.

Notwithstanding the economic benefits the mine would bring to the community, opposition arose to the project. Rather than confronting the opposition head-on, Rio Tinto handed decision-making power to the local community. It formed a community board and funded an environmental group to study different options for the location of the mine. In so doing, Rio Tinto effectively outsourced some important business decisions to the community. But it also enlisted supporters to help win over those who were skeptical of the project. By relinquishing some control, they enhanced the overall odds of success. Eventually, the project did get underway, and the mine opened.

Investment Service Providers 2014

41

In my experience, relinquishing control is exceptionally difficult for most senior Chinese executives. Because the Chinese economy has grown so fast, most leaders of companies big enough to go global are part of the founding generation. To achieve success, they have had to exert strong leadership, requiring them to keep tight control over their companies.

In today’s business world, however, success often requires companies to cede some control to outside forces, particularly in the area of communications. In the past, it was considered important for organizations to communicate with strict “message discipline”: a consistent message was needed to control the organization’s image. But with the explosion of communication technology, especially in social media, message control has become less important. Today, the key to communication success is the creation and maintenance of strong, authentic relationships with stakeholders. These relationships require dialogue, which means engaging in conversation. Successful companies are no longing talking at their stakeholders; they are talking with them.

Just as Rio Tinto invited community stakeholders into its corporate boardroom to be part of the process of locating a mine, companies investing in new markets must identify the key influencers in those new markets and engage them early in the process.

When Shuanghui acquired US pork producer Smithfield Foods last year, it was clear that many conversations with local community leaders had taken place early in the process.

On the day the deal was announced, the Secretary of Agriculture for the State of Virginia said, “We’re looking at this as a really good thing. China represents the grand prize, as far as pork exports are concerned.” Clearly, he was briefed in advance and was ready to endorse the acquisition on the day it was announced. His support, and that of other business and government leaders (who were also briefed well in advance), protected the acquisition when critics tried to stop it with a hearing before the US Senate. The critics failed, and the deal was quickly approved.

Obviously, there is risk involved in briefing people ahead of a deal. If the wrong people, such as competitors, learn of a planned acquisition in advance, they could move to disrupt it. That is why the process of due diligence is so important at the outset.

Having trusted local advisors is equally critical. The process of mapping stakeholders will not only help identify supporters for the transaction, but will also aid in building long-term relationships that increase the odds of success in the future. In addition, a good stakeholder map can help identify and neutralize opponents who might otherwise try to prevent a transaction.

The key is to find trusted local advisors who know the community and the industry involved in the planned investment. The other imperative is to start this process early – which will help prevent unpleasant surprises like the one that confronted the investor in the New York hotel.

Editor’s note: This article was originally published in the February 2014 edition of the New Fortune magazine. It is published with permission here.

42

Investment Service Providers 2014

溝通不容忽視的盡職調查項目 墨博 福萊國際傳播咨詢公司 銳思滙項目主席

職調查，是所有成功商業人士所熟知的概念，它通常指投資者在投資之前進 盡行信息搜集，以盡可能降低風險的過程。瞭解一樁生意的既往歷史、收益

率、現有者聲譽，以及與兼並有關的法律條款，這只是投資者注資前需要考慮的 幾個方面。在盡職調查上花費金錢、時間和努力，常被看作是必不可少的流程， 實際上，也是最好的做法，特別是在投資海外時。 不幸的是，很多中國公司在投資海外時却忽略了盡職調查中的一個重要部分：溝 通－法律和財務方面的盡職調查一向被視為天經地義，溝通上的盡職調查却往往 被放在不太重要的位置，甚至有時徹底被忽略。 為利益相關方分類 確立“主要目標” 大多數投資海外的中國公司都非常低調，以避免吸引過多的注意力。這是一項聰明 的策略，因為大過顯眼可能招致本土利益集團、競爭企業或其他利益相關者的批 評，但保持低調也需要計劃和策略，更為重要的是，需要有目的地與被謹慎選擇的 利益相關方交流溝通。認知及分辨這些利益相關方也是溝通上盡職調查的一環。 認知利益相關方的過程並不複雜。第一步需要對受投資計劃影響的個體及組織進 行分類，或是對投資計劃感興趣即可。被分類的對象包括了消費者、供應商、投 資者、社團領袖、競爭對手，以及後援組織等。對于每一個類別，公司都應製作 一張表格，列出對投資可能帶來影響（無論正負）的團體或個人。隨後，每個個體 或組織都應按照兩個標準打分：一個用來衡量此利益相關方對投資帶來的影響， 另一個則用來衡量影響此利益相關方意見和行為的困難程度。在打分之後，每個 利益相關方都應該被歸屬于如圖表中的一類（附圖）。 投資者與某個利益相關方接洽的方法將由他們在圖表中的位置决定。最重要的利 益相關人士是那些在商業交易中有巨大影響力，並且自身也較容易被影響的人。 這些利益相關人士處于圖表中的 B 區域，為主要目標，應被謹慎對待，而對其余三 個區域對象的投入則可相對較少。獲得 A 和 C 區域利益相關人士的好感能帶來的收 益並不大，因為他們不容易被影響。同樣的，與區域 D 中人士的交往也不會帶來太 大助益，因為他們對投資的影響非常有限。 最近買下紐約一座酒店的中國投資商便是一個範例。為了節省成本，這位投資商 引進外籍員工為酒店工作。工會對引進外籍員工產生了异議，但這位中國投資商 拒絕與他們進行談判。于是工會向政府監管機構提出抗議，這不僅推遲了許可批 發的時間，也增加了酒店開始運作的難度。最終該項目被拖延了四個月，導致了 投資方數百萬美元的損失。

Investment Service Providers 2014

43

高

保持滿意度

對商業目標的影响力

A

低 難

主要目標 （謹慎對待）

B

保持監測

隨時了解

C

D 容易受影响的程度

易

事實上，如果中國投資商事先進行了盡職調查，就會意識到，工會在紐約十分重 要，它們有能力幹擾項目進度並能影響政治領袖，從而給生意帶來麻煩。按照對基 本利益相關方的圖解，紐約工會正是 B 區域的利益相關組織，擁有對投資的巨大影 響力。如果及時開始談判，將會為投資商節省可觀的資金。 適當放棄控制權以換取關鍵支持 國際礦業力拓（Rio Tinto）則選擇了一種不同的方式來推進他們在美國密西根州的項 目。2013 年，力拓計劃在美國北部開拓新礦，預計產量為 3 億磅鎳、2.5 億磅銅，以 及一些其它礦產。此項目預計將會為當地居民提供 1000 個新工作機會。 儘管新礦能為當地帶來可觀的經濟效益，反對意見仍不斷產生。力拓並未正面處理 反對意見，而是將決定權交給了當地政府。他們組織成立了社區委員會，並且資助 了某個環境組織來研究開礦的位置選擇。通過這種方式，力拓等于將一些重要的商 業决定權外包給了當地。當然，它同時也徵募了不少支持者來說服仍然對此項目存 疑的人。雖然放棄了某些控制權，但力拓提高了整體的勝算。最終，這個項目得到 批准，新礦也開始運作。 根據筆者的經驗，放棄控制權對于大多數中國高管來說是非常困難的。目前大多數 足以走向全球的大型企業領導人都是公司的創始人。要取得成功，他們必須表現出 極强的領導力，而這往往需要他們對公司有著很强的控制權。 但是，在今日的商業世界，成功往往需要企業將部分控制權轉讓給外部社會，特別 是在溝通方面。過去，嚴格遵守“信息規定”的交流被認為對企業至關重要：企業形 象需要一致的對外說辭。但隨著信息技術的巨變，特別是社交媒體的出現，對信息 的控制權已經變得不那麽重要了。今天，交流的成功之道在於創造，保持和利益相 關者牢固而真實的關係，而關係的維繫需要雙方的對話。成功的企業早已不再是簡 單地告知利益相關方，他們更多地創造對話的機會。

44

Investment Service Providers 2014

如同力拓邀請社會上的利益相關方參與開礦位置的討論，在新市場裏投資的公司必 須確定新市場中最關鍵的影響者，並且及早與他們建立聯系。2013 年雙匯收購美國 豬肉供應商史密斯菲爾德食品（Smithfield Foods）時，他們在早期就介入了與當地社 會領袖的商談。收購案宣布的當天，弗吉尼亞州農業部長表示，“我們認為這是一次 非常良好的合作。考慮到猪肉出口的情况，中國市場意味著巨大的商機”。很明顯， 他事先就被知會了有關情况，並且準備好了在收購案宣布的當天發表贊同的言論。 他和其他眾多商界及政界領袖（也都被事先知會過）的支持，在批評者試圖通過參議 院聽證來阻撓的情况下，確保了此次收購的順利獲批。 提前行動 找對人 當然，在交易前就知會有關人士是有一定風險的。如果錯誤的人，比如競爭對手， 提前知道了收購計劃案，會有可能采取行動阻撓其發生，這也是盡職調查如此重要 的原因。 有可信賴的本地諮詢顧問也同樣關鍵。認識利益相關方的過程，不僅有利于分辨交 易中的支持方，也能够著眼于和他們建立長期的合作關係，增强未來成功的概率。 此外，一幅清晰的利益相關方圖解亦能夠幫助分辨和中立那些原來嘗試阻撓交易的 對手。 由此可見，成功的關鍵是找到值得信賴、對投資計劃涉足的市場行業都非常熟悉的 本地顧問。另一件必要的措施就是盡早開始這個過程－這會幫助避免許多不愉快的 “驚喜”，如同紐約酒店的那位投資者碰上的一樣。

Investment Service Providers 2014

45

Setting Up Overseas Headquarters – Roles of Hong Kong

W

ith globalization continuing to transform business and a growing Chinese economy at an annual rate of over 7 percent, many Chinese enterprises are stretching their tentacles globally in search of new markets, access to advance technology, raw materials, energy sources through a wide range of investment opportunities. Nevertheless, “going global” is no easy task. In trying to establish a foothold overseas, in particular the US and Europe, a Chinese company is required to have an international outlook and to make careful strategic plans, among other factors. As a preliminary step, a company has to identify its target market and choose the right location for its overseas headquarters, which is a vital port of its plan of going global.

First port of call When Chinese companies seek to gain a foothold in the international arena, Hong Kong is often the first port of call, where enterprises establish headquarters to gain experience in transnational operation, form strategic partnership with multinational firms in Hong Kong, and springboard to overseas markets, especially those in the US and Europe.

Hong Kong is globally recognized as a free and open economy. In the 2014 Index of Economic Freedom of the Heritage Foundation, Hong Kong topped the list for the 20th consecutive year. In the 2013-2014 Global Competitiveness Report, Hong Kong moved two places up to seventh in terms of competitiveness. It was ranked top in infrastructure for the fourth year in a row, and it also came out first in the area of financial market development, which refers to having a high level of efficiency, trustworthiness and stability. All these serve to explain why Hong Kong is a magnet for businesses that come from all parts of the world for trade and investment. The city’s efficient and independent judiciary, its rule of law, low rates of corruption, and effective enforcement of intellectual property laws also appeal strongly to investors.

46

Investment Service Providers 2014

Close links In particular, mainland enterprises have even greater incentives to establish their “Asian” headquarters in Hong Kong, given its close proximity and inherent political ties to the mainland, and the cultural and linguistic bonds between both sides. When Chinese enterprises implement a plan to go global with thin knowledge and scanty experience in the overseas markets, it poses a limitation to their ability to conduct large-scale expansion in the short run. Thus, establishing a business base in a location nearby – one that shares similar attributes with mainland China in terms of culture, language, commercial practice and education – is a sensible preliminary move for these enterprises. In addition, a regional headquarters in Hong Kong also offers the advantage of easier business management and more manageable risk control.

According to a study conducted by the Chinese University of Hong Kong and Tsinghua University in 2011, which probed 333 mainland enterprises, Hong Kong and Singapore were the leading investment locations of choice for mainland enterprises that have invested abroad. The research also indicated that Hong Kong was the most preferred location for setting up regional headquarters. Of the interviewed enterprises, 92 had established or intended to establish a headquarters in Asia. A total of 70 of them were private firms, and the remaining 22 were state-owned enterprises. The majority of these companies were fairly young, with more than 70 percent among them established less than 20 years ago. About half were large-scale companies and the other half small and medium enterprises. Companies from the manufacturing sector and the nonmanufacturing sector were also divided in about half. In terms of place of origin, about 70 percent were situated in coastal areas of China. All these point to a trend of young, energetic private enterprises in mainland China looking beyond their home turf for business expansion.

Investment Service Providers 2014

47

Changing roles Since its accession to the World Trade Organization (WTO) in 2001, China’s importexport sector has diversified significantly in terms of its overseas markets. While the mainland’s trading volume with Hong Kong has reduced notably as a result, the Mainland-Hong Kong CEPA (Closer Economic Partnership Arrangement), which came into effect in January 2004, has taken the mainland-Hong Kong economic and trade ties to a new level, carving out new space for Hong Kong’s financial and service sectors to operate in the mainland while paving the way for mainland enterprises to go global through Hong Kong.

By comparison, investment relations between Hong Kong and the mainland are even stronger. For more than a decade, Hong Kong has been the leading source of investment capital of mainland China. Likewise, Hong Kong is the number one destination for outward direct investment from the mainland. Some of these funds go directly to Hong Kong; others go through the city and are ultimately invested overseas.

The main anchor of economic ties between the mainland and Hong Kong today has switched from trade to investment. This exacerbates mainland companies’ aspiration to go global. Nonetheless, it is not as if the process is always smooth sailing or that all these firms are able to expand abroad without a hitch, due in part to a lack of overseas experience. This makes Hong Kong all the more attractive as a location for mainland enterprises to establish a solid business foundation, building up experience and taking advantage of Hong Kong’s strengths in the international realm before making a presence abroad.

Editor’s note: Information of this article is excerpted and translated from the 2011-2012《中国企业“ 走出去”发展報告》published by the China Council for Promotion of International Trade. It is used with permission here.

48

Investment Service Providers 2014

香港：從跳板到企業角力場

節錄自 2011-2012 中國企業“走出去” 發展報告 中國國際貿易促進委員會主編

著中國經濟的高速發展和世界經濟一體化進程的加快，“走出去”已經成為中國 隨內地企業做大做強的必然選擇。中國內地企業要 “走出去”，需要具備全球化的

國際視野、科學審慎的戰略決策、精準而富彈性的制度設計，更需要精心布置攻守 相宜的海外基地。這其中，“走出去”第一步的目標市場和海外總部的確定是關係到 整個“走出去”戰略成功與否的重要環節。

數據上，中國香港是中國內地企業“走出去”數量最為集中的地區之一，不少內地企 業通過香港走向了世界。隨著內地經濟的不斷發展，香港以其自由開放的特性成為 內地企業與全球競爭者比拼資金、人才、創新與管理的角力場。香港的經濟實力、 經濟自由度和透明度享譽全球。在美國傳統基金會發布的“經濟自由度指數”中，香 港連續 20 年被評選為全球最自由經濟體。2013-2014 年世界經濟論壇發布的《全球 競爭力報告》顯示，中國香港的整體競爭力排名第 7 位。在政府支持、法律、金融等 多方面具備優勢並與國際接軌。這些優厚的條件使得中國香港在與其他國家和地區 的經貿投資合作中具有巨大的吸引力。 香港在內地企業國際化中的角色 在內地企業的國際化進程中，香港相比其他國家和地區扮演着更為重要的角色。香 港和內地有着天然的政治聯系，同時地理位置毗鄰、文化相似、語言相通，自然會 被內地企業作為貿易、投資的首選和向其他經濟區域擴張的起點。香港的這種戰略 重要性體現在以下兩個方面。 第一，香港可以作為內地企業經濟貿易和國際化投融資的主要區域和起點。香港的 優勢在於國際化程度高、與其他國家經易往來密切；同時政府大力支持外向型經濟 的發展，經濟政策寬鬆開放，稅率低。對於需要進行國際化營運的企業，香港無論 在軟硬件設施還是政策支持上都有足夠的吸引力。此外，香港與內地毗鄰，無論是 與香港企業進行經貿合作或在港進行投融資活動，都便於內地企業的管理和控制。 具有國際化意願的內地企業應充分利用香港的獨特優勢，將之作為試驗和學習的平 台，積累經驗後再向其它國家和地區進行投資合作。 第二，香港是內地企業建立亞洲總部的首選。已具備國際化經驗和實力的內地企業 可將其海外商業活動進行戰略升級，在香港成立亞洲區域總部，實施更深廣的國際 化運作。一方面，香港國際化程度高，是中國內地聯系世界的重要紐帶。香港的人 才組成高度國際化，法律制定也大量借鑒了歐洲的法律條文，在人才儲備和制度環 境上符合打造區域總部的要求。同時，香港的服務業比重和金融業發達程度也勝過 大多數其他亞洲都市，在香港打造亞洲區域總部能夠獲得一流的配套支持。另一方 面，內地企業在香港建立亞洲總部能夠取得管理和風險控制上的優勢。香港毗鄰內 地、回歸後與內地的經貿聯系更加緊密，中央政府也為香港的繁榮與發展提供強有 力的支持，香港的文化商業環境更是與內地相像。此外，香港政府也在重拳打造總 部經濟之路，積極創建內地企業亞洲總部基地，對內地企業提供了很多優惠政策。

Investment Service Providers 2014

49

香港在內地投資與貿易上的戰略地位：從貿易依存到投資主導 香港中文大學與清華大學《中國內地企業亞太總部區位選擇研究》課題組於2011年對 兩地經貿關係進行了大規模數據分析。研究結果顯示，香港與內地的經貿關係已由 初期的貿易依存型升級為投資主導型格局。 分析結果顯示香港是內地企業建立亞洲總部的首選，在參與調查的 333 家企業中， 251 家已經開展了對外直接投資；92 家已經建立或計劃在未來三年內建立亞洲總 部，其中近六成企業選擇將總部建立在香港。香港在內地企業海外投資的總部基地 競爭中具有獨特優勢和巨大潛力。調查顯示，內地企業海外投資與總部選擇呈現兩 大特點： (1) 海外投資地點：四成選擇港新 333 家企業中有 251 家企業已開展對外直接投資，比例為 75.38%。其中 100 家企業 選擇在香港或新加坡投資，其中 12 家企業在香港和新加坡都進行了投資。數據顯 示，香港和新加坡是內地企業對外投資的重要地區，且香港的吸引力較新加坡更大。 (2) 亞洲總部地點：六成首選香港 另外，在 100 家於香港和新加坡開展投資的內地企業中，已有 26 家企業建立了亞洲 總部，佔對外投資企業總數的 10%。其中 12 家企業在香港建立總部，4 家企業在新 加坡建立總部，還有 10 家企業的總部設在亞洲其他地區。 當被問及今後三年內企業是否有在亞洲建立總部的意願、以及對總部基地地點的選 擇時，參與調查的 333 家企業中有 66 家表示在未來三年內有建立亞洲總部的意向， 佔進行對外直接投資企業總數的 26%，其中 42 家企業選擇在香港建立總部，7 家企 業選擇新加坡，17 家企業選擇在亞洲其他地區建立總部。 綜合來看，共有 92 家內地企業已建立或在未來 3 年內擬建立亞洲總部，佔進行對外 投資企業總數的 37%。其中 54 家選擇在香港建立總部，佔比為 59%；11 家企業選 擇新加坡，佔比為12%；27家企業選擇在亞洲其他地方建立總部，佔比為29%。這 就表明，香港在內地企業的亞洲總部選址中具有絕對優勢，超過半數企業選擇香港 作為其亞洲區域總部所在地。盡管香港和新加坡同為國際化大都市，一直被認為是 亞洲總部經濟競爭的勁敵，但內地企業對香港顯示出明顯的偏好。由此可見，香港 與內地緊密的政治、文化聯繫和毗鄰的地理位置對內地企業的區域總部選址有重大 影響。

50

Investment Service Providers 2014

An Alphabetical Guide to Professional Service Providers

Investment Service Providers 2014

51

Service Providers Directory

AllianceBernstein Hong Kong Limited 聯博香港有限公司

網站 Website: www.alliancebernstein.com.hk

Ajai Kaul 高捷 Chief Executive Officer (Asia Pacific-Ex Japan) 亞太區（日本除外） 行政總裁

34/F One International Finance Center, 1 Harbour View Street, Central, Hong Kong 香港中環港景街 1 號國際金融中心一期 34 樓 電話 Tel 傳真 Fax 電郵 Email

: (852) 2918 7888 : (852) 2918 0200 : Ajai.kaul@alliancebernstein.com, Sun.hao@alliancebernstein.com 聯繫人 Contact Person : Ajai Kaul 高捷 , Sun Hao 孫昊

Founded in 1967, AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private clients in major world markets.

Sun Hao 孫昊 Managing Director, Head of Institutions, Greater China 執行總監及機構銷售 主管－大中華區

AllianceBernstein believes that investment research is essential to delivering better outcomes for clients. The firm has created a highly dynamic research engine that integrates fundamental and quantitative analysis of securities with economic, currency and other specialized research. As of end December 2013, there are over 280 analysts globally within the firm.

AllianceBernstein offers a comprehensive range of investment services: style-pure growth equities and value equities; style blend equities; fixed income; index funds and structured services; alternative investments; and both customized and packaged multi-asset-class solutions.

AllianceBernstein’s corporate headquarters is in New York. The firm also has research, portfolio management, wealth management and client-service offices in cities around the world, including London, Frankfurt, Tokyo, Hong Kong, Sydney and Chicago. 聯博於 1967 年成立，為全球領先的投資管理公司之一，向全球主要市場的機構投資 者、個人和私人客戶提供卓越的研究和多元化投資服務。 聯博認為，要為客戶取得佳績，投資研究至關重要。本公司已建立靈活的研究基 礎，結合證券的基本和量化分析，涵蓋經濟、貨幣和其他專門領域。截至2013年12 月底，本公司聘用 287 名分析師。 聯博提供的投資服務全面，包括純增長策略型的股票和價值型股票、混合策略股 票、固定收益、指數基金和結構服務、另類投資，以及定制和整合的多元資產類別 方案。 聯博的總辦事處設在紐約，並在全球多個城市設有研究、投資組合管理、財富管理 和客戶服務的辦事處，包括倫敦、法蘭克福、東京、香港、悉尼和芝加哥。

52

Investment Service Providers 2014

American Appraisal China Limited 美国評值有限公司

網站 Website: www.american-appraisal.com.hk

Patrick Wu 勇為 President & Managing Director 董事总经理

13/F, On Hing Building, No. 1 On Hing Terrace, Central, Hong Kong 香港中環安慶臺 1 號安慶大廈 13 樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2511 5200 (852) 2511 9626 asianmailbox@american-appraisal.com Patrick Wu, President & Managing Director

502 Office Tower A, Beijing Fortune Plaza, No. 7 Dongsanhuan Zhong Road, Chaoyang District, Beijing, China 100020 北京市朝阳區東三環中路 7 号北京財富中心寫字樓 A 座 502 室 邮編 : 100020

Kevin Leung 梁国恩 Vice President, Financial Valuation Group 財务估值部副总裁

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

+86 (10) 6530 9088 +86 (10) 6539 1336 kleung@american-appraisal.com Kevin Leung, Vice President, Financial Valuation Group

American Appraisal is a founder of the appraisal profession in the United States in 1896 – the forerunner in the valuation profession. Today we are the largest independent valuation consulting firm in the world, with global execution and compliance capabilities and an international presence.

American Appraisal operates out of over 50 offices in 24 countries. The Greater China operations (American Appraisal China Limited) are based in Hong Kong with offices and consultants in Beijing, Shanghai, Guangzhou, Shenzhen and Taipei since 1975.

We specialize in providing independent fair market valuation of real estate, machinery & equipment, entire business, intangible assets including brands, IPR & goodwill, equities, derivatives and other financial assets for investment, financing, accounting compliance and management decision making purposes. 美國評值 (American Appraisal) 於 1896 年在美國成立，是資產評估行業的始創者。時 至今日，我們是全球最大的獨立資產評估顧問公司，為一家國際性機構，在全球多 個國家及地區營運，得到各地政府機關認可。 美國評值在全球 24 個國家設有超過 50 個辦事處。自 1975 年起，美國評值有限公司 (American Appraisal China Limited) 在大中華區為客戶服務，以香港為總部，在北 京、上海、廣州、深圳及臺北設有辦事處。 我們為各類資產提供獨立的公允價值評估服務，範圍包括：房地產、機器設備、整 體企業、無形資產如品牌、知識產權、股權、衍生性金融商品以及其他金融資產。 我們的評估報告適用於投資、融資、會計，以及管理決策等目的。

Investment Service Providers 2014

53

Service Providers Directory

American Express

網站 Website: www.americanexpress.com.hk 18/F Cityplaza 4, 12 Taikoo Wan Rd, Taikoo Shing, Hong Kong Y C Koh President, Asia, Card Services 2811 6634

American Express is a leading global payments, network and travel company backed by one of the world’s most recognized brands. It offers the broadest array of charge, credit, co-brand and prepaid products for consumers, small businesses, midsize companies and large corporations.

Visit us at www.americanexpress.com.hk/cs to learn more about our Corporate Payment solutions.

Member since March 1969

Jacinta Sheahan Vice President & General Manager Hong Kong & Taiwan Global Corporate Payments 2811 6330

Tara Tubman Director, Large Market Acquisition Hong Kong & Taiwan Global Corporate Payments 2811 6695

David Caton Director, Middle Market & Centralized Acquisition Team Global Corporate Payments 2811 6040 54

Investment Service Providers 2014

Asian Tigers Mobility

網站 Website: http://www.asiantigers-mobility.com

Robert Chipman Chief Executive Officer

17/F, 3 Lockhart Road, Wanchai, Hong Kong 電話 Tel : (852) 2528 1384 傳真 Fax : (852) 2529 7443 電郵 Email : info@asiantigers-hongkong.com 聯繫人 Contact Person : Robert Chipman, Chief Executive Officer 17/F, 3 Lockhart Road, Wanchai, Hong Kong 電話 Tel : (852) 2528 1384 傳真 Fax : (852) 2529 7443 電郵 Email : info@asiantigers-hongkong.com 聯繫人 Contact Person : Timothy Tao, Senior Corporate Manager

Timothy Tao Senior Corporate Manager

Relocation Management • • • • • • • •

Visa & Immigration Orientation Moving Services Home Finding Settling-In Tenancy Management Training Programs Departure Services

Established in 1974, with 30 offices in 14 countries and territories; more than 1,500 full time dedicated, professional staff, we are an innovative partner dedicated to your success.

Investment Service Providers 2014

55

Service Providers Directory

CBRE 世邦魏理仕

網站 Website: www.cbre.com.hk

Craig Shute 施懷德 Senior Managing Director HK, MC & TW 資深董事總經理 香港、澳門及台灣

4/F Three Exchange Square, 8 Connaught Place, Central, Hong Kong 香港中環康樂廣場八號交易廣場三期四樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2820 2800 (852) 2810 0830 hongkong@cbre.com.hk Craig Shute 施懷德

Suite 1201-1203 & 14, 12/F, Tower 6, The Gateway, 9 Canton Road, TST, KLN, Hong Kong 香港九龍尖沙咀廣東道九號港威大廈第六座十二樓 1201-013 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2989 5100 (852) 2521 9517 hongkong@cbre.com.hk Craig Shute 施懷德

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. 世邦魏理仕（紐約證券交易所代號：CBG）總部位於美國加利福尼亞州洛杉磯，是 「財富 500 強」和「標準普爾 500 強」企業，為全球最大的商業房地產服務及投資公司 （按 2012 年營業額計算）。公司擁有員工約 37,000 名，在全球範圍內通過 300 多家辦 事處（不含聯營公司）為地產業主、投資者及承租者提供綜合的地產服務，包括：物 業租售的策略顧問及實施、企業服務、物業╱設施及項目管理、按揭融資、評估與 估值、開發服務、投資管理、研究與策略顧問等。

56

Investment Service Providers 2014

Charles Schwab, Hong Kong, Ltd. 嘉信理財香港有限公司 網站 Website: schwab.com.hk

James Sun 孫晨 Managing Director 董事總經理

Suites 1607-1611, ICBC Tower, No. 3 Garden Road, Central, Hong Kong 香港中環花園道 3 號 , 中國工商銀行大廈 16 樓 1607–1611 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2101 0511 (852) 2506 4756 asia@scwhab.com.hk James Sun, Managing Director

Charles Schwab, Hong Kong, Ltd., a subsidiary of the San Francisco-based Charles Schwab Corporation, is registered with the Securities & Futures Commission (“SFC”) in Hong Kong. We offer comprehensive US investment products and services, including US stocks, fixed income, market research, online trading platform and financial consultants in Hong Kong.

At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. Through its operating subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with more than 325 offices and 9.1 million active brokerage accounts, and $2.25 trillion in client assets as of December 31, 2013.

With Schwab Hong Kong, you will have access to your investments and US market insight through our web site www.schwab.com.hk, telephone access (+852-2101-0511) and local office. 嘉信理財香港有限公司乃嘉信理財集團旗下的附屬公司，已在香港證券及期貨事務 監察委員會（「證監會」）註冊。嘉信提供全面的美市投資服務及產品，包括美股買 賣、固定收入投資、市場研究、網上交易平台及專業理財顧問。 在嘉信理財，我們相信投資能協助個人創造更美好的將來。嘉信理財集團（紐約證券 交易所：SCHW）是美國最大的金融服務公司之一。截至 2013 年 12 月 31 日，透過旗 下附屬機構，擁有超過 325 家分行、活躍經紀帳戶總數達 910 萬、客戶資產總額為 2.25 萬億美元。 嘉信理財香港有限公司現透過其香港辦事處、電話服務 (+852 2101-0511) 及企業網 站 (www.schwab.com.hk)，能以多渠道綜合方式為客戶提供美市投資服務。

Investment Service Providers 2014

57

Service Providers Directory

Cambridge Negotiation Strategies (CNS) 美中合作伙伴 (CNS)

網站 Website: www.cambridge-ns.com

Francisco J. Sanchez Chairman of CNS, Former Under Secretary of International Trade, US Department of Commerce (20092013)

1200 18th Street NW Suite 800 Washington DC 20036 美国华盛頓特區西北區 18 街 1200 号 800 室 邮編：20036 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(1) 202 552 6661 (1) 202 827 1230 aaron@cambridge-ns.com Aaron Kirsh, Chief Operating Officer

Cambridge Negotiation Strategies (CNS) is a strategic consulting firm focused on providing turnkey export services and facilitating Chinese investment in the United States.

Our export services include developing comprehensive international trade strategies to optimize entry or growth in international markets, facilitating trade transactions between cross-border parties, and providing clients with governmental and customized business relations services.

Our Invest in America services include investment advisory and Foreign Direct Investment (FDI) advocacy. Through a comprehensive investment assessment, we provide tailor-made investment strategies for Chinese entities to accomplish objectives in the United States.

CNS 是一家戰略咨詢公司，專注於為客戶提供便捷的出口服務，並助力中國資本在 美國的投資。 我們的出口服務包括制訂全方位國際貿易戰略以使客戶更好地進入國際市場或在其 中實現增長，促進跨國各方之間的貿易往來，以及為客戶提供度身定制的政府和商 務關係服務。 我們的投資美國服務包括投資咨詢和外商直接投資 (FDI) 倡導。我們通過全面投資評 估，為中國客戶提供度身定制的投資戰略，助其實現在美國的目標。

58

Investment Service Providers 2014

Deloitte Touche Tohmatsu 德勤

網站 Website: www.deloitte.com

Lili Zheng 鄭莉莉 Co-leader, Deloitte APICE Limited 德勤國際稅務中心 (亞太區)

35/F One Pacific Place, 88 Queensway, Hong Kong 香港金鐘道 88 号太古广場一期 35 樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2852 6769 (852) 3691 8984 lzheng@deloitte.com Lili Zheng – Co-leader, Deloitte APICE Limited

8/F Deloitte Tower, The Towers, Oriental Plaza, 1 East Chang An Avenue, Beijing 100738, PRC 中国北京市東长安街 1 号東方广場東方经貿城德勤大樓 8 層 邮政編碼：100738

Johnny Zhang 張晓帆 Director, Deloitte Chinese Services Group 德勤中國服務組

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

+86 (10) 8520 7061 +86 (10) 8520 7910 johnnyxzhang@deloitte.com.cn Johnny Zhang – Director, Deloitte Chinese Services Group

Deloitte is the leading professional services organization in the world providing audit, tax, consulting, and financial advisory services to clients spanning multiple industries.

With a globally connected network of member firms in more than 150 countries, Deloitte has more than 200,000 professionals who are committed to becoming the standard of excellence. In Greater China, Deloitte have 22 offices with nearly 13,500 people working on a collaborative basis to serve clients.

The one of its kind innovative Deloitte Asia Pacific International Core of Excellence (AP ICE) platform was established in 2010 to provide international tax consulting services to Chinese companies expanding internationally. Deloitte AP ICE, designed to complement our China professionals, is based in Hong Kong, with a team of 21 senior tax professionals from 14 tax jurisdictions to provide “one-stop, same time zone” services.

Deloitte’s unique Global China Service Group (GCSG) network has coverage in over 120 locations around the world, delivering Deloitte professional services to both multinational corporations investing into China and Chinese companies expanding overseas. 德勤為各行各業的客戶提供審計、稅務、企業管理咨詢及財務咨詢服務。德勤成員 所遍及全球逾 150 個國家，並擁有約 200,000 名專才致力於追求卓越，樹立典範。 德勤在大中華設有 22 個辦事處，擁有近 13,500 名員工以協作方式服務客戶。 德勤國際稅務中心（亞太區） （簡稱「AP ICE」）的總部設于香港，成立於 2010 年，是一 支獨一無二擁有來自 14 個地區的 21 位資深稅務專業人士組成的團隊，提供一站式及 零時差的服務，協助中國企業擴展到海外。 德勤全球中國服務組是專注於中國市場以及中國客戶的規模最大、實力最強的專業 網絡之一，擁有覆蓋全球 120 多個國家的約 500 名專業人士。我們跨領域的專業團 隊致力於為到中國投資的跨國公司，以及到海外投資的中國公司提供跨境的專業服 務。 Investment Service Providers 2014

59

Service Providers Directory

Denz Advisory Partners Limited 戴斯顧問有限公司

網站 Website: http://www.denzadvisory.com/

Dennis Chan 陳泓斌 Managing Partner 執行合夥人

No.2, 20/F, Winsome House, 73 Wyndham Street, Central, Hong Kong 香港中環雲咸街 73 號雲山大廈 20 樓 02 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2628 3760 (852) 8343 6100 info@denzadvisory.com Janice Liao

Denz Advisory Partners Limited (“DAP”) is dedicated to providing excellence in management advisory services to clients from varying sectors of enterprise and institutions. We take an active role in recognizing and understanding the specific concerns of our clients and work with them to craft holistic solutions that ensure the whole organization is taken into account. We always view our clients as long term partners that we put our best effort to assist our clients to achieve tangible business performance and sustainable business development.

We provide a comprehensive range of advisory services for our clients, including: – Corporate Finance – IPO Planning – Corporate Governance – Human Resources Management – Sales, Marketing and Brand – Business Risk Management Management – Operation Management – Strategic Planning – Investor Relations The team at DAP comes from a spectrum of backgrounds that includes lawyers, bankers, investment managers, information technology system architects, public relations professionals, entrepreneurs and international business leaders. This diverse mix has allowed us to establish valuable networks in varying business sectors and combined with a thorough knowledge of our clients’ business. From project initiation through to execution, we help to manage any necessary transition that brings competitive advantage to our clients’ business. 戴斯顧問有限公司（“戴斯顧問”）竭力為來自不同領域的企業和機構客戶提供專業優 質的管理顧問服務，並因應企業客戶所面對的問題及需要，規劃出高效的解決方 案，務求在複雜和急變的營商環境當中協助客戶企業提昇其競爭優勢和戰略位置， 以實現持續穩建的長遠發展目標。 戴斯顧問一直堅持深入發掘企業核心價值，透過有效策略規劃和實踐，為客戶提供最 優質的服務，以將企業的核心價值最大化地體現。戴斯顧問的顧問服務範疇包括： － － － － －

企業財務 企業管治 營銷推廣及品牌管理 策略規劃 上市規劃

－ － － －

人力資源管理 企業風險管理 營運管理 投資者關係

戴斯顧問的專業顧問團隊成員來自不同專業領域，由法律、財務、投資、資訊科 技、市場策劃和公共關係的專業人士、以及曾任職本地及跨國企業的高管人員所組 成。憑藉各範疇的專業知識和豐富經驗，戴斯顧問能夠更全面地為客戶提供高效及 具針對性的解決方案，從諮詢、規劃至執行，我們都會協助客戶全面實踐其發展計 劃與目標。 60

Investment Service Providers 2014

East Asia Sentinel Group 衛亞集團

網站 Website: www.EastAsiaSentinel.com

Charlie Smith 史查理 Managing Director 常務董事

22/F, Tai Yau Building, 181 Johnston Road, Wanchai, Hong Kong 香港灣仔莊士敦道 181 號大友大廈 22 字樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2810 1018 (852) 2525 9890 Charlie.Smith@EastAsiaSentinel.com Charlie Smith – Managing Director

Room 1804, Tower 1, Plaza 66, 1266 Nanjing West Road, Shanghai 200040, China 中國上海南京西路 1266 號恆隆廣場一座 18 樓 1804 室

Joanne Ly 李麗英 US Tax Partner 美國稅務合伙人

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

+86 21 6288 3223x130 +86 21 6288 2201 Joanne.Ly@EastAsiaSentinel.com Joanne Ly – US Tax Partner

With offices in Hong Kong and Shanghai for more than 40 years the East Asia Sentinel Group has been providing investors in Asia with high-quality professional services in the areas of cross-border tax advisory, US, HK and China tax compliance, investment structure, M&A, business and IPO consulting, accounting, auditing, and trade and company secretarial services.

The Group has a very strong US tax practice headed by Mr. Charlie Smith. Our comprehensive US taxation services enable the Group to help individuals, companies, bankers, fund managers, and trusts comply with complex US tax rules and make tax efficient business and investment decisions. 奠基於香港，業務拓展至中國上海，擁有超過四十年歷史的衛亞集團一直致力為亞 洲投資者提供高質素的專業服務。服務領域包括：跨境稅務咨詢，美國、香港及中 國稅務合規，投資結構、企業重整、企業併購、管理業務、公司上市咨詢，會計管 理、貿易文件、公司秘書及審計服務等。 集團擁有由史查理先生為首的一個強大、富實務經驗的美國稅務合規及咨詢團隊。 我們全面的美國稅務服務幫助個人、企業、銀行家、基金經理和信託基金遵守複雜 的美國稅法規定，由戰略到執行作出高效的業務和投資決策。

Investment Service Providers 2014

61

Service Providers Directory

East West Bank 華美銀行

網站 Website: www.eastwestbank.com

Dominic Ng Chairman and Chief Executive Officer

Julia S. Gouw President and Chief Operating Officer

135 N. Los Robles Avenue, Pasadena, CA 91101, USA 電話 Tel : 626.768.6266 傳真 Fax : 626.817.8832 電郵 Email : emily.wang@eastwestbank.com 聯繫人 Contact Person : Emily Wang, Director of Marketing Suite 1108, 11/F Two International Finance Centre, 8 Finance Street, Central, Hong Kong 香港中環金融街 8 號國際金融中心 2 期 11 樓 1108 室 電話 Tel : (852) 2218 9033 傳真 Fax : (852) 2868 1078 電郵 Email : janie.fong@eastwestbank.com 聯繫人 Contact Person : Janie Fong, Managing Director of International Business

East West Bancorp is a publicly owned company with over $26.0 billion in assets and is traded on the Nasdaq Global Select Market under the symbol “EWBC.” The Company’s wholly owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California. East West is a premier bank focused exclusively on the United States and Greater China markets and operates over 130 locations worldwide, including in the United States markets of California, Georgia, Nevada, New York, Massachusetts, Texas and Washington. In Greater China, East West’s presence includes a full-service branch in Hong Kong and representative offices in Beijing, Chongqing, Shenzhen, Taipei and Xiamen. Through a wholly-owned subsidiary bank, East West’s presence in Greater China also includes full-service branches in Shanghai and Shantou and a representative office in Guangzhou. For more information on East West Bancorp, visit the Company’s website at www.eastwestbank.com. 華美銀行是全美以華裔為主要市場規模最大的商業銀行，現有總資產二百六十億美 元，在美國和大中華地區共有超過 130 處服務網絡。華美銀行以傑出的表現名列全 美 30 大銀行，並在福布斯 (Forbes) 全美百強銀行排行榜上連續四年名列前十。美國 市場主要分佈於加州、喬治亞州、內華達州、紐約、麻薩諸塞州、德州以及華盛頓 州；在大中華地區，香港、上海和汕頭都設有全方位服務的銀行，北京、重慶、廣 州、深圳、臺北、廈門及廣州亦設有辦事處。華美銀行是一座連結中美金融服務的 橋樑，具有東西方的文化特質、知識及資源，協助客戶達成企業及個人目標。華美 銀行提供全方位商業和個人銀行服務，位於美國大華超級市場的超市分行，七天營 業，周間營業到下午七時。華美銀行的中英雙語網路銀行和自動電話銀行提供全天 24小時的銀行服務。有關華美銀行相關資料，可上網www.eastwestbank.com查閱。

62

Investment Service Providers 2014

Ella Cheong (Hong Kong & Beijing) 張淑姬（香港及北京）知識產權代理 網站 Website: www.ellacheong.com

Ella Cheong 張淑姬 Founder & Chair 創辦人及主席

5001 Hopewell Centre, 183 Queen‘s Road East, Hong Kong 香港皇后大道東 183 號合和中心 5001 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2810 0558 (852) 2810 0933 mail@ellacheong.com Ella Cheong

Ella Cheong (Hong Kong & Beijing) specializes in identifying, securing protection over, licensing and enforcing all types of intellectual property rights in Greater China (consisting of China, Hong Kong and Macau). The Founder & Chair, Ella Cheong, is an IP lawyer admitted in HK, UK, SG and Australia, and has been recognized internationally for her work with awards by APAA, AIPPI, INTA and FICPI, and is a frequent speaker and author.

Our team comprises trade mark lawyers, patent attorneys, and technical experts with impeccable academic credentials representing international, regional and local corporations in intellectual property matters, providing prompt and commercially-sensible intellectual property solutions. Familiarity with clients’ needs in multiple jurisdictions within Asia allow a consistent and efficient approach which results in high quality work at reasonable cost. 張淑姬（香港及北京）是一家專業從事知識產權諮詢與代理服務的公司，致力於商 標、專利、外觀設計和版權等領域，為大中華地區客戶提供知識產權的申請、保護 與轉讓等全方位的服務。創辦人及主席張淑姬女仕（知識產權律師）具香港、新加 坡、英國及澳洲律師執業資格，被國際公認為 APAA, AIPPI, INTA and FICPI 等專業協 會作出的貢獻，並經常就知識產權的講題上著寫文章、主持及參加很多論壇。公司 擁有一支由商標、專利、外觀設計專家和技術人士組成的優秀團隊，他們均在知識 產權領域內有多年工作經驗，為眾多國際、地區以及香港企業和政府機構提供服 務。我們對東方文化和語言的掌握，以及對西方執業的熟悉，使我們處於有利地 位，能游刃有余地為客戶提供知識產權的諮詢和管理服務。

Investment Service Providers 2014

63

Service Providers Directory

Energenz Consulting Limited 安節能源顧問公司

網站 Website: www.energenz.asia

Ben Heraud 夏宏德 CEO 首席行政總裁

Unit 2908, 29th Floor, Pacific Plaza, 410 Des Voeux Rd West, Sai Wan, Hong Kong 香港德輔道西 410 號太平洋廣場 29 樓 2908 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2161 1360 (852) 2161 1361 gilbertlk@energenz.com.hk Gilbert Lennox-King, Chief Operations Office

Alm. Dr. Carlos D’ Assumpcao No. 180, Tong Nam Ah Central Comercio, 13 Andar D, Macau, China 澳門宋玉生廣場 180 號東南亞商業中心 13 樓 D 室 Gilbert Lennox-King 喬柏 COO 首席運營總裁

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(853) 2875 7330 (853) 2875 7336 gilbertlk@energenz.com.hk Gilbert Lennox-King, Chief Operations Officer

Founded in 2009 and based in Hong Kong, Energenz Consulting initially focused on local projects and quickly grew to become an energy and resource management leader in the Asia-Pacific region. Over the past years, Energenz have expanded our expertise to provide energy, water, waste, sustainability and information management services through embracing cutting edge technology.

Recently, Energenz went into partnership with JBA Consulting Engineers, an international engineering consultancy, which delivers state-of-the-art design and master plan consulting services throughout the world. Together, Energenz and JBA provide a seamless service of sustainable operation and design services through our team of Trusted Advisors™. 安節能源顧問公司成立於 2009 年及在香港設立總部。安節能源顧問業務最初集中於 香港本地項目，幾年間迅速發展成為亞太區的能源和資源管理業界的領袖。在過去 幾年中，安節能源顧問通過吸取尖端科技和知識不斷擴大了其專業領域，現已提供 節能、節水、减廢、可持續發展和信息管理服務。 不久之前，安節能源顧問與 JBA 工程顧問有限公司成為合作伙伴。JBA 工程顧問是一 間國際工程顧問公司，在全世界範圍內提供先進建築設備設計和總體規劃顧問服 務。憑著我們值得信賴的顧問 (Trusted Advisors ™ ) 團隊，安節能源顧問和 JBA 工程 顧問致力於為客户提供優質的可持續發展及設備設計的無縫服務。

64

Investment Service Providers 2014

FleishmanHillard

網站 Website: www.fleishmanhillard.com Suite 1501, Cityplaza 4, 12 Taikoo Wan Road, Taikoo Shing, Hong Kong 香港太古城太古灣道 12 號太古城中心四期 1501 室 Rachel Catanach 曹蔚明 SVP & Senior Partner, Managing Director, Hong Kong 香港區董事總經理， 高級副總裁及 高級合伙人

Bill Black 墨博 Senior Partner, Global China Practice Lead 資深合伙人， 銳思匯主席

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2530 0228 (852) 2845 0363 Rachel.Catanach@fleishman.com Rachel Catanach, SVP & Senior Partner, Managing Director, Hong Kong

1615 L Street, NW, Suite 1000, Washington, DC 20036, USA 電話 Tel : (1) 202 828 8889 傳真 Fax : (1) 202 296 6119 電郵 Email : Bill.Black@fleishman.com 聯繫人 Contact Person : Bill Black, Senior Partner, Global China Practice Lead FleishmanHillard is the world’s most complete global communications firm, specializing in public relations, public affairs, marketing, paid media, and transmedia and social content. FleishmanHillard delivers on The Power of True, reflecting the firm’s high values, and unique ability to guide clients through a world demanding unprecedented authenticity and transparency. FleishmanHillard was named 2013 ”China Consultancy of the Year“ and 2012 “Global Public Affairs Agency of the Year” by The Holmes Reports.

The firm’s award-winning work is widely heralded, including at the Cannes International Festival of Creativity. FleishmanHillard is part of Diversified Agency Services, a division of Omnicom Group Inc., and has more than 80 offices in 29 countries, plus affiliates in 42 countries. Visit us at www.fleishmanhillard.com and www.fleishman.hk.

The Global China Practice is a worldwide network of senior FleishmanHillard practitioners with deep experience supporting Asian multinationals’ successful forays into new markets.

The practice has a proven track record of promoting understanding, building brands and managing reputations for the growing roster of ambitious Chinese companies expanding and seeking opportunities around the world.

FleishmanHillard 是世界最全面的全球傳播機構，在公共關係、公共事務、市場營 銷、付費媒體、跨媒體及社交媒體內容上具有深厚的經驗。FleishmanHillard 信守真 實的力量，代表其價值觀及其獨一無二的能力，即在現今需求前所未有的真實性和 透明度的社會環境中，為客戶提供指導。FleishmanHillard 被《The Holmes Report》評 為 2013 年度“中國最佳公司”及 2012 年度“全球最佳公共事務公司”。公司在業界屢 獲殊榮，其中包括在戛納國際創意節獲獎。FleishmanHillard 屬於宏盟集團在市場營 銷服務領域的下屬集團公司：百益通市場顧問有限公司（Diversified Agency Services / DAS），在全球 29 個國家共設有 80 個辦公室，在 42 個國家設有分支機構。欲瞭解公 司更多信息，請瀏覽 FleishmanHillard 全球網站 www.fleishmanhillard.com 及香港網 站 www.fleishman.hk。 銳思匯是一個經驗豐富的全球網絡，成員均為 FleishmanHillard 在全球各地的資深從 業者，憑藉在增進理解、建立品牌以及管理聲譽方面的成功記錄，幫助越來越多的 中國企業在全球發現並擴大商機，樹立品牌知名度、為併購及跨境金融傳播提供支 持、管理利益相關方關係、推動企業公民舉措，以及提供其它各類傳播服務。 Investment Service Providers 2014

65

Service Providers Directory

Hamilton Advisors Limited

網站 Website: www.hamiltonadvisorsltd.com Suite 2909-10, 29/F, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong 香港灣仔港灣道 26 號華潤大廈 29 樓 2909-10 室 Robert GRIEVES 葛理福 Chairman & CEO 董事長及行政總裁

電話 Tel : (852) 2488 8866 電郵 Email : rgrieves@hamiltonadvisorsltd.com 聯繫人 Contact Person : Robert GRIEVES – Chairman & CEO

Hamilton Advisors provides premium strategic communications services to a range of clients from multinationals, financial institutions and listed companies, to small- and medium-sized enterprises and professional associations. We are a full-service boutique firm composed of multicultural, seasoned public relations experts with extensive experience in corporate communications, media relations, corporate social responsibility, crisis communications and investor relations.

Steeped in international best practices with a global network, diverse experience and local wisdom, Hamilton Advisors provides expertise in corporate profile raising, financial communications, issues management and crisis communications. We are driven to produce results, helping our clients to seize opportunities and achieve business goals.

Hamilton Advisors 致力提供優質的企業傳訊服務，客戶包括跨國企業，金融機構， 上市公司，中小企企業及各類專業協會。我們是一間服務全面的公司，擁有一班具 多元文化背景的公關專才，對傳媒關係，企業社會責任，危機傳訊管理及投資者關 係等傳訊工作具豐富經驗。 作為一家擁有全球戰略合作網絡，豐富實踐經驗和本土化傑出人才的國際公關公 司。Hamilton Advisors 提供品牌領導力，企業形象、媒體關係，金融傳訊，事件管 理及危機傳訊方面的專業公關服務。我們致力以結果為導向，幫助我們的客戶抓緊 機遇，實現商業目標。

66

Investment Service Providers 2014

International Commerce Capital Group Limited 國貿資本有限公司 19/F, Two International Financial Centre, 8 Finance Street, Central, Hong Kong 香港中環金融街 8 號國際金融中心二期 19 樓 Connie Leung 梁穎雯 Vice President

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 9301 8910 / (86) 147 1502 6192 (852) 3101 1196 connieleung@icchk.net Connie Leung – Vice President

19/F, Two International Financial Centre, 8 Finance Street, Central, Hong Kong 香港中環金融街 8 號國際金融中心二期 19 樓

Grace Kwok 郭詩瑀 Director

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 9622 0833 (852) 3101 1196 gracekwok@icchk.net Grace Kwok – Director

The International Commerce Capital Group (“ICC”) is a one-stop-shop wealth management service company in Hong Kong.

With a team of in-house professionals as well as closely liaising with teams of lawyers, trustees and accountants, ICC is dedicated to provide wealth management solutions for Mainland business owners, while having the interest to invest abroad on a corporate level, also with needs on an individual level for overseas investments. ICC provides solutions such as wealth planning and alternative investment vehicles outside China, trust and estate planning as well as emigration. On a corporate level, ICC also provides corporate finance advisory services including mergers & acquisitions and IPO liaison. 國貿資本有限公司“ ( ICC”) 是一家全面的財富管理服務供應商。 集各家之專長，ICC 旨在為國內的企業家，在專注發展事業往海外投資之余，在個人 理財的角度亦提供一站式離岸財富管理及傳承方案，包括財富規劃、提供海外另類 投資產品、離岸信託及財富傳承規劃、移民服務等。另外，ICC 亦有提供海外上市及 收購合併諮詢等服務。

Investment Service Providers 2014

67

Service Providers Directory

Intertrust Hong Kong Limited 富信香港有限公司

網站 Website: http://www.intertrustgroup.com/

Alex Cho 曹志光 Managing Director 董事总经理

3806 Central Plaza, 18 Harbour Road, Wanchai, Hong Kong 香港灣仔港灣道 18 号中環广場 3806 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2802 7711 (852) 2802 7733 hongkong@intertrustgroup.com Alex Cho, Managing Director

Room 1009, 10/F, CBD International Mansion, No. 16 Yong An Dong Li, Chaoyang District, Beijing 北京市朝阳區永安東里 16 号 CBD 国际大厦 1009 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(8610) 6514 8686 (8610) 6512 1378 china@intertrustgroup.com Ivy Yang, Business Development Manager

Intertrust is a recognized quality leader in trust, fund and corporate services, providing a broad range of commercial, legal, tax and administrative services to companies, funds as well as high net worth individuals. With its global network of experts, roots in the financial world and a reputation for quality trust and corporate services – Intertrust’s clients can benefit from a time- and cost-efficient global approach combined with local knowledge to serve their needs.

Intertrust Hong Kong Limited, together with our offices in Beijing, Shanghai and Guangzhou, covers a full range of services including company secretarial, business process outsourcing (accounting / payroll / treasury / back office functions etc.), tax compliance, trade documentation, fund administration, escrow, business & employee relocation solution, intellectual property, China services as well as estate planning and trust services. 在信託，基金和企業服務方面，富信集團被公認為是高品質服務的提供者，服務範 圍涵蓋商業，法律，稅務，公司管理，基金和高資產淨值人士。集團網絡遍佈全球， 我們的專家立足于金融領域，擁有良好的信託及企業服務聲譽 – 富信集團的客戶將 以有效的方式受益於我們的全球網絡及本地的專業知識及服務。 富信香港有限公司與在北京，上海和廣州的辦公室為您提供全方位的服務，包括： 公司秘書服務，業務流程外包（會計╱薪酬╱財政╱後勤部門職能等），守法納稅， 商業文件，基金管理，第三方託管，公司及員工重新安置解決方案，知識產權，中 國服務，財產規劃及信託服務。

68

Investment Service Providers 2014

JBA Consulting Engineers (Asia) Ltd. 喬克柏工程諮詢有限公司 網站 Website: www.jbace.com

Dwayne Miller 馬立賢 CEO 行政總裁 Global 全球

Unit 2905-08 Pacific Plaza, 410 Des Voeux Road West Hong Kong 香港德輔道西 410 號太平洋廣場 29 樓 2905-08 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2161 1328 (852) 2161 1308 Ella.liu@jbace.com Ella LIU, Marketing Executive

Unit 2602D,26/F, Ascendas Plaza, 333 Tianyaoqiao Road, Xuhui District, Shanghai, China 中國上海市天鑰橋路 333 號騰飛大廈 2602D 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person : Derek Sands 盛志達 COO 首席營運總監 Asia Pacific 亞太區

(021) 2215 7793 (021) 2215 7887 di.wu@jbace.com Di Wu, Director of Operations China

Founded in 1966 and originally based in Las Vegas, JBA Consulting Engineers initially focused on regional projects and quickly grew to become an engineering leader in the Western United States. Five decades later, JBA has become an expert in Mechanical / Electrical / Plumbing Engineering, Fire Protection Engineering, Telecommunications Infrastructure, Advanced Audiovisual and Control Systems, Central Utility Plants, Security and Surveillance, Acoustical Engineering and Noise Control, Data Center Planning, Sustainable Design in Building Infrastructure, master planning, Building Optimization, and Revit / BIM Design. We have office location in Las Vegas, Hong Kong, Macau, Ho Chi Minh City, Shanghai, New Orleans, Orange County, Perth and Phoenix.

At JBA, we like to say “We bring buildings to life”; Our commitment to provide unsurpassed client service with the highest standard of engineering counsel to our clients around the world is the same today as it was in the beginning.

JBA Consulting Engineers 成立於 1966 年，總部設在拉斯維加斯，起初該公司主要為 當地工程項目提供服務，隨著公司的迅猛發展，現已成為美國西部工程領域內的佼 佼者。50年後，JBA已經變成了以下領域的專家：電氣工程、暖通器械╱管道工程、 消防工程，電信基礎設施、高級影音和控制系統、集中式供熱（電）動力系統、安防 與監控、聲學工程和噪聲控制、數據中心規劃、建築基礎設施中的可持續設計、總 體規劃、建築優化和Revit / BIM設計。我們在拉斯維加斯、澳門、香港、胡志明市、 新奧爾良、奧蘭治縣、珀斯、鳳凰城和上海設立了辦事處。 在 JBA，我們喜歡說“讓建築煥發生機”。我們致力於為世界各地的客戶提供卓越的 客戶服務和最高標準工程諮詢。這一承諾自始至終，從未改變。

Investment Service Providers 2014

69

Service Providers Directory

KPMG 畢馬威會計師事務所

網站 Website: www.kpmg.com

Andrew Weir Regional Senior Partner

8/F, Prince’s Building, 10 Charter Road, Central, Hong Kong 中環遮打道 10 號太子大廈 8 樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2826 7243 (852) 2845 2588 Andrew.weir@kpmg.com Andrew Weir, Regional Senior Partner

23rd Floor, Hysan Place, 500 Hennessy Road, Causeway Bay, Hong Kong 香港銅鑼灣軒尼詩道 500 號希慎廣場 23 樓 Irene Chu 朱雅儀 Partner, Audit 合夥人（審計）

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2978 8151 (852) 2845 2588 Irene.chu@kpmg.com Irene Chu, Partner, Audit

KPMG is a global network of professional firms providing audit, tax and advisory services, with an industry focus. We use our expertise and insight to cut through complexity and deliver informed perspectives and clear solutions that our clients and stakeholders value.

Today, KPMG China has around 9,000 professionals working in 16 offices; Beijing, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Hangzhou, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Tianjin, Xiamen, Hong Kong SAR and Macau SAR. 畢馬威是網路遍佈全球的專業服務機構，設有由優秀專業人員組成的多個行業專責 團隊，致力提供審計、稅務和諮詢等專業服務。畢馬威運用專業技術，以敏銳的洞 察力，分析複雜的情況，為客戶和利益相關的各方提供有價值的意見和明確的解決 方案。今天，畢馬威中國在北京、上海、瀋陽、南京、杭州、福洲、廈門、青島、 廣州、深圳、成都、香港特畢馬威中國目前在北京、成都、重慶、佛山、福州、廣 州、杭州、南京、青島、上海、瀋陽、深圳、天津、廈門、香港特別行政區和澳門 特別行政區共設有十六家機構，專業人員約 9,000 名。

70

Investment Service Providers 2014

Mazars 瑪澤

網站 Website: www.mazars.cn

Stephen Weatherseed 韋大象 Managing Director, Mazars Hong Kong 董事總經理，瑪澤香港

42nd Floor, Central Plaza,18 Harbour Road, Wanchai, Hong Kong 香港灣仔港灣道 18 號中環廣場 42 樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2909 5555 (852) 2810 0032 stephen.weatherseed@mazars.hk Stephen Weatherseed, Managing Director, Mazars Hong Kong

8th Floor, One Lujiazui, No. 68 Yin Cheng Middle Road, Shanghai, 200120 China 上海市銀城中路 68 號陸家嘴時代金融中心 8 樓，200120 中國

Julie Laulusa 劉鈺涓 Managing Partner, Mazars Mainland China 中國執行合伙人， 瑪澤中國大陸

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(86) (21) 6168 1088 #188 (86) (21) 6168 1087 julie.laulusa@mazars.cn Julie Laulusa, Managing Partner, Mazars Mainland China

Mazars is an international, integrated and independent organisation specialising in audit, advisory, accounting and outsourcing, tax and legal services. As at 1st January 2014, Mazars operates in 72 countries, and draws on the expertise of 13,800 professionals to assist companies – major international groups, SMEs, private investors – and public bodies, at every stage in their development.

Our unique integrated structure enables us to provide seamless services to clients looking for international expansion. With our 600 professionals in China and our 700 professionals in the United States – including a dedicated China Desk team –, we are fully committed to serving the growing and diversified needs of both Chinese and US businesses. 瑪澤是一家國際化綜合性的獨立組織，專業範疇包括審計、諮詢、會計與外包、稅 務和法律服務。截至 2014 年 1 月 1 日，瑪澤在 72 個國家擁有 13800 名專業人員，致 力於為大型國際企業，中小型企業，私人投資者或是公共機構提供適用於各個發展 階段的解決方案。 我們獨一無二的一體化結構使我們能為尋求國際發展的客戶提供量身定制的“無縫” 服務。瑪澤在中國擁有 600 名專業人員，在美國擁有 700 名優秀員工，包括一個專 業的中國業務團隊，我們盡心提供各項服務，以滿足中美兩國企業不斷增長的多元 化需求。

Investment Service Providers 2014

71

Service Providers Directory

PCCW Solutions Limited 電訊盈科企業方案

網站 Website: www.pccwsolutions.com

Michael Chue 徐海國 Head of Sales and Marketing 銷售及市場推廣主管

Level 2, The Long Beach Commercial Podium, 8 Hoi Fai Road, Kowloon, Hong Kong 香港九龍海輝道 8 號浪澄灣商業廣場 2 樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2296 8918 (852) 2250 4020 michael.hk.chue@pccw.com Michael Chue

PCCW Solutions is a leading IT services company in Hong Kong and mainland China.

We adopt the latest technology to help clients create business value and succeed in the ever-changing economic environment. We offer a wide range of services including software solutions, IT and business process outsourcing services, cloud computing services, systems development and solutions integration, data center services, hosting and managed services, e-commerce and RFID solutions. PCCW Solutions is committed to catering to customers’ needs to help them achieve their business goals.

PCCW Solutions has more than 3,800 IT professionals in Hong Kong and mainland China. With our extensive experience in managing large-scale projects for various sectors and widely recognized business credentials, PCCW Solutions is a trusted partner to government, leading banking and financial institutions, telecommunications service providers, retail and consumer brands companies, and multinational corporations. 電訊盈科企業方案是香港和國內首屈一指的資訊科技服務公司，我們運用最新技術 為客戶創造商業價值，幫助客戶的業務在不斷轉變的經濟環境下取得成功。我們提 供多元化的服務，包括軟件解決方案、IT 和業務流程外包服務、雲計算服務、系統 開發和行業解決方案整合、數據中心服務、托管和管理服務、電子商貿解決方案和 RFID解决方案等。電訊盈科企業方案致力於滿足客戶需求，協助他們達成業務目標。 電訊盈科企業方案在香港和國內擁有3,800多名IT技術專才。憑著電訊盈科企業方案 多年來為各行業實施大型項目的經驗以及備受認可的商業資歷，已經成為政府、眾 多領先的金融機構、電訊營運商、零售和消費品牌，和跨國企業最值得信賴的合作 伙伴。

72

Investment Service Providers 2014

SoZo Group 三葉集團

網站 Website: http://www.sozonet.com/

Raymond Cheng 鄭禮明 CEO 行政總裁

Units 813-15, One Island South, 2 Heung Yip Road, Wong Chuk Hang, Hong Kong 香港黃竹坑香葉道 2 號 One Island South 813 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2893 8268 (852) 3014 6437 raymond.cheng@sozonet.com Raymond Cheng, CEO

A corporate consultancy and an economic developer that seeks to build US-China trade and investment relationships and inspires others to join us. We advise Chinese corporations as they plan direct investments in suitable U.S. communities, building mutual trust and understanding through various events. As bridge builders, SoZo trusts that our professional services will make the most out of Chinese capital at the best opportunities and drive regional development across America in the process, with a result that is greater than the sum of its parts.

The name Sózó came from the Greek σώζω, meaning to heal or save, to return to the original form, and as we put it, to do “good”. That is our aspiration: in a time of global economic turmoil, we believe that we can make a difference by keeping investors from either side of the world safe and sound.

Investment Service Providers 2014

73

Service Providers Directory

Speedflex Group 捷雅亞洲有限公司

網站 Website: www.speedflex.com.hk

Charles Zimmerman 查理文 Senior Business Development Manager

1st Floor, Hua Qin International Building, 340 Queen’s road Central, HK 香港皇后大道中 340 号华秦国际大厦一字 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2542 2780 (852) 2542 3733 charles@speedflex.com.hk Charles Zimmerman – Senior Business Development Manager

Speedflex is one of Asia’s leading full service financial and commercial printers.

Speedflex Group was founded in 1981 with a view in providing the highest possible quality in graphic design, printing, translations, editorial and related publishing services.

Our customers include some of the major investment and retail banks in Hong Kong, leading corporations, fund managers, government bodies and professional service firms.

Our wholly organic growth is firmly entrenched in customer satisfaction and retention, and we value the long tenure of our executives and operations staff.

We constantly adapt to technological changes to offer the very latest innovations in on-line communication.

Our Hong Kong pre-press departments are supported by our own printing factory, allowing effective coordination and quality control. 捷雅是亞洲區內提供全方位服務的主要金融及商業印刷公司之一。 公司於 1981 年創建，旨在提供最優質的平面設計、印刷、翻譯、編輯和相關出版服 務。 我們的客戶來自香港投資和零售銀行、主要企業、基金經理、政府機關及提供專業 服務的公司。 捷雅歷來的業務發展，全賴我們致力滿足客戶需求，維持良好關係，以及我們重視 公司內執行及營運人員，致力保留員工。 科技發展千里、日新月異，而我們一直配合發展，務求在網上通訊方面尋求最新、 最具創意的方式。 我們位處香港的印刷籌備部門具備自身的印刷廠，提升協作效率，致力監控品質。

74

Investment Service Providers 2014

Tanner De Witt Solicitors 鄧偉德，戴源恆律師行

網站 Website: http://www.tannerdewitt.com/

Eddie Look 陸國輝 Partner 合伙人

1806, Tower 2, Lippo Centre, 89 Queensway, Hong Kong 香港金鐘道 89 號力寶中心二期 1806 室 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2573 5000 (852) 2802 3553 eddielook@tannerdewitt.com Eddie Look, Partner

1806, Tower 2, Lippo Centre, 89 Queensway, Hong Kong 香港金鐘道 89 號力寶中心二期 1806 室

Shi Chuan 石川 Associate 律師

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2573 5000 (852) 2802 3553 riverstone@tannerdewitt.com Shi Chuan（石川）, Associate

Tanner De Witt is an independent and established business law firm in Hong Kong providing practical legal advice to clients worldwide with business interests in Hong Kong, China and the Asia Pacific Region. We pride ourselves on the personal and attentive service we offer to our clients. Tanner De Witt advises on all aspects of commercial and business law including mergers and acquisitions, corporate reorganisations, private equity, venture capital transactions, commercial tenancies, distributorship, agency and franchise arrangements, intellectual property and immigration. We also advise on litigation and dispute resolution, mediation, insolvency, restructuring, employment and regulatory licensing. Chambers and Partners 2014 says that we are “streamlined and [our] advice is to-the-point” and an interviewee says of Eddie Look that “Not only is he good at advising on legal aspects, he also sees clearly through any traps in the whole puzzle of an agreement and further understands the commercial side in negotiations.” 鄧偉德，戴源恆律師行是一間立足於香港的商業律師行，向在香港、中國及亞太地 區有商業利益的各國客戶提供切實靈活的法律服務。我們向客戶提供個人化的、精 細的法律服務，並以此為己任。鄧偉德，戴源恆律師行的法律服務涵蓋商事及商業 的所有方面包括併購、企業重組、私募基金、風險投資交易、商業租賃、分銷、代 理及特許安排、知識產權和移民。我們也提供訴訟及爭端解決、調解、破產、重 組、僱佣及合規等法律服務。錢伯斯律師指引 (Chambers & Partners) 認為我們是『精 簡高效並且 [ 我們的 ] 法律建議切中要點』。一位受訪者評價陸國輝律師『他不但善於 解決法律問題，更可以清楚看到合同迷題中任何的陷阱並且懂得談判中的商業因 素。』

Investment Service Providers 2014

75

Service Providers Directory

Troutman Sanders 長盛國際律師事務所

網站 Website: http://www.troutmansanders.com/

Eric A. Szweda 師偉達 Managing Partner – Hong Kong 香港分所執行合伙人

34/F, Two Exchange Square, 8 Connaught Place, Central, Hong Kong 香港中環交易廣場 2 座 34 樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(852) 2533 7888 (852) 2533 7898 Eric.Szweda@troutmansanders.com Eric A. Szweda, Managing Partner – Hong Kong

23/F, CITIC Square, 1168 Nanjing West Road, Shanghai, China 中國上海南京西路 1168 號中信泰富廣場 23 樓

Edward J. Epstein 葉德華 Managing Partner – Shanghai 上海代表處執行合伙人

Allen Shyu 徐作青 Managing Partner – Beijing 北京代表處執行合伙人

76

電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(86) 21 6133 8989 (86) 21 6137 8188 Edward.Epstein@troutmansanders.com Edward J. Epstein, Managing Partner – Shanghai

36/F, China World Office 2, 1 Jianguomenwai Dajie, Beijing, China 中國北京建國門外大街 1 號國貿寫字樓 2 座 36 樓 電話 Tel : 傳真 Fax : 電郵 Email : 聯繫人 Contact Person :

(86) 10 6535 1788 (86) 10 6535 1766 Allen.Shyu@troutmansanders.com Allen Shyu, Managing Partner – Beijing

Founded in 1897, Troutman Sanders is one of the oldest and most notable law firms in the United States, with more than 600 lawyers in fifteen (15) offices across the US and China.

Troutman Sanders has been actively serving Asian-based clients doing business in the US for more than forty (40) years, particularly in the areas of mergers and acquisitions, securities and corporate governance, intellectual property, employment, dispute resolution, real estate, tax and regulatory compliance across different industries. Our lawyers in Hong Kong, Shanghai and Beijing work closely with our US based lawyers to provide seamless, responsive service to Asia clients.

Through Troutman Sanders Strategies, a governmental relations and issue management firm, Troutman Sanders also advocates our clients’ needs at the federal, state and local levels of government across the US, and works to obtain investment incentive packages and necessary approvals from relevant governmental authorities on behalf of our clients. 長盛國際律師事務所成立于 1897 年，是美國歷史最悠久且最頂尖的律師事務所之 一，在北美和亞洲擁有 600 多位律師和 15 間事務所，以豐富的執業經驗、迅捷的回 應速度和不懈的服務承諾而著稱。 長盛國際律師事務所為在美國從事業務的亞洲客戶提供法律服務已超過 40 年，核心 業務包括並購、證券和公司治理、知識產權、勞雇、爭議解決、房地產、稅務及法 規遵循等領域，並涉及各個產業。本所香港、上海和北京的律師與在美國各辦事處 的律師密切合作，為亞洲客戶提供迅捷無縫的法律服務。 長盛國際律師事務所公共策略團隊專長處理政府關係與議題。通過與美國聯邦、州 和地方政府的廣泛關係網絡，根據客戶的需求、協助客戶取得投資獎勵及政府核准。

Investment Service Providers 2014

United Airlines Inc. 聯合航空公司

網站 Website: united.com

Walter Dias 戴亞斯 Managing Director Greater China & Korea Sabrina Hua 華麗 Regional Sales Manager Hong Kong & Southern China

1201-5, Tower 1, The Gateway, 25 Canton Road, Tsimshatsui, Kowloon, Hong Kong 香港尖沙咀廣東道 25 號港威大廈一座 1201-5 室 電話 Tel : (852) 2842 3666 傳真 Fax : (852) 2526 6473 聯繫人 Contact Person : Walter Dias, Managing Director, Greater China & Korea Sabrina Hua, Regional Sales Manager, Hong Kong & Southern China

United Airlines, the world’s leading airline, operates daily nonstop services from Hong Kong to San Francisco, Chicago, New York, Singapore, Ho Chi Minh City, and four times weekly to Guam.

United is investing in upgrading its onboard products and now offers more flat-bed seats in its premium cabins and more extra-legroom economy-class seating than any airline in North America. On-demand entertainment is also available in United Global First® and United BusinessFirst® on all Trans-Pacific services. United’s MileagePlus – the world’s most rewarding loyalty program, provides the best combination of service and rewards for frequent travelers.

United Airlines and United Express operate an average of 5,341 flights a day, providing members with tremendous travel and mileage earning possibilities and benefits. For reservations, please visit united.com or call 2810-4888. 聯合航空為世界領先的航空公司，營運由香港至三藩市，芝加哥，紐約，新加坡， 胡志明市的每日直航服務，以及每週四班到關島的直達航班。 聯合航空不斷提升客艙設施，在聯合環球頭等艙及聯合商務頭等艙提供的平躺式座 椅數目，以及在經濟客艙提供額外腿部伸展空間的座位數量亦超越北美其他航空公 司。另外，所有跨太平洋航班上的聯合環球頭等艙及聯合商務頭等艙已配備隨選影 音娛樂系統。由聯合航空與聯航快運 (United Express) 每日開出的航班數量平均達到 5,341 班，為飛行常客帶來豐富旅遊體驗和輕鬆賺取及使用前程萬里飛行計劃獎賞里 數的機會。 有關詳情及訂票請瀏覽 united.com，或致電訂位熱線 2810-4888。

Investment Service Providers 2014

77

Company Index

78

AllianceBernstein Hong Kong Limited

52

American Appraisal China Limited

53

American Express

54

Asian Tigers Mobility

55

CBRE

56

Charles Schwab, Hong Kong, Ltd.

57

Cambridge Negotiation Strategies (CNS)

58

Deloitte Touche Tohmatsu

59

Denz Advisory Partners Limited

60

East Asia Sentinel Group

61

East West Bank

62

Ella Cheong (Hong Kong & Beijing)

63

Energenz Consulting Limited

64

FleishmanHillard

65

Hamilton Advisors Limited

66

International Commerce Capital Group Limited

67

Intertrust Hong Kong Limited

68

JBA Consulting Engineers (Asia) Ltd.

69

KPMG

70

Mazars

71

PCCW Solutions Limited

72

SoZo Group

73

Speedflex Group

74

Tanner De Witt Solicitors

75

Troutman Sanders

76

United Airlines Inc.

77

Investment Service Providers 2014

Notes

Notes

42005_AD_v2_OP.indd 1

2/21/2014 6:14:40 PM