Industry News

AmCham was honored to host Scott Beaumont, President of Google Greater China for an exciting conversation on the future of AI on Nov 22

Entrepreneur/SME Focus
Barron Asia VR, AmCham member; Hong Kong-based production company, is going boldly into the world of virtual reality (VR).

Finance
Limits on foreign ownership of joint ventures in China’s financial services sector will be relaxed over the next five years, China’s deputy finance minister Zhu Guangyao said on Friday.

Transportation
Representing American firms and related stakeholders in the EV industry, AmCham asks the Government to revisit the current EV policies to ensure the decisions made are fair to investors and beneficial to Hong Kong’s economy and environment.

Intellectual Property
The International Conference of Data Protection and Privacy Commissioners (ICDPPC) has been the annual premier global forum for data protection authorities for over three decades

Trade & Investment
Hong Kong and the Association of Southeast Asian Nations yesterday signed a free trade agreement and a related investment agreement in Manila, providing for the removal or progressive reduction of customs duties on goods from the SAR that will enter ASEAN member countries.

Education
AmCham President Tara Joseph visited GT (Ellen Yeung) College on September 19th to speak to students about her own experiences and how they might shape their own future. The outing was part of AmCham’s Conversation with a Leader series, developed by Frank Wong, co-leader of the chamber’s Education Affairs Group.

Taxation
The American Chamber of Commerce in Hong Kong submitted a letter to the President of the United States on November 3 calling for the U.S. to shift to a system of territorial taxation for corporations and individuals to boost U.S. competitiveness in doing business overseas.

Law
Landmark court ruling over spousal visa welcomed by supporters, but lack of anti-discrimination laws means more changes require time

Human Resources
Landmark court ruling over spousal visa welcomed by supporters, but lack of anti-discrimination laws means more changes require time

Communications/Tech
AmCham was honored to host Scott Beaumont, President of Google Greater China for an exciting conversation on the future of AI on Nov 22

Hospitality
Today, the U.S. House of Representatives passed S. 504, the Asia-Pacific Economic Cooperation Business Travel Cards Act of 2017, which is identical to bipartisan legislation introduced in the House this year by Reps. Dave Reichert (R-WA), chairman of the Ways and Means Trade Subcommittee, Kathleen Rice (D-NY), Dan Donovan (R-NY), and Rick Larsen (D-WA).

Real Estate
As the Greater Bay Area (GBA) initiative continues to gain momentum, Cushman & Wakefield Greater China Research is releasing a new white paper report

CSR
Peter Nip, winner of AmCham Charitable Foundation’s 2017 Ira Dan Kaye Community Service Award, reflects on a life rooted in altruism

Apparel & Footwear
Myanmar has made strides to create a business friendly regulatory environment. The government has decreased the days required to start a business in Myanmar from 76 days in 2014 to 13 days in 2016 by simplifying the process , specifically removing the need to submit a reference letter and a criminal history certificate.

Greater China
Led by Chairman Walter Dias, Vice-Chairman Jack Lange, President Tara Joseph and Past Chairmen James Sun and Steven DeKrey, AmCham HK held its annual “Doorknock” to Beijing from November 20-21, 2017

Health Care
Yunfeng Financial Group Ltd, the company backed by Alibaba billionaire Jack Ma, agreed to buy an Asian unit from Massachusetts Mutual Life Insurance Co to add offerings such as death benefits and annuities.

Food & Beverage
McDonald’s will increase its number of stores in China and Hong Kong to 4,500 by the end of 2022, up from 2,500 currently, as part of a strategic partnership with Citic Ltd, CITIC Capital Partners and the Carlyle Group.

Environment & Sustainability
The price of ivory in China has dropped sharply as that country plans to end the legal trade in ivory later this year, a leading elephant conservation group said in a new report. That’s great news for the world’s largest land animals.

What’s New in Washington
As regional powers compete for physical and political influence over the Eurasian super-continent, the U.S. considers its options from afar. Matthew Goodman of the Center for Strategic and International Studies provides a perspective from Washington