Search Results for: hong Kong

Chinese consumers are buying more of their cosmetics online on China’s top two ecommerce sites Tmall.com and JD.com and also specialist sites Lefung.com, Tiantian.com and Jumei.com, forcing bricks-and-mortar own brand retailers to rethink their strategy. Market leading retailer – AS Watson, a Hong Kong-based chain which operates 14,000 stores in greater China and worldwide and which sells a wide range of Watson’s own brand personal care products, has also been adjusting to compete.…

THE HONG Kong government has signed an avoidance of double taxation agreement with Russia. It will prevent Hong Kong companies with a permanent establishment in Russia being taxed in both jurisdictions. Russian tax paid by Hong Kong companies will be credited against the tax payable in Hong Kong.…

Flushable wipes range from adult moist toilet tissue to feminine hygiene wipes, and the sector has been steadily growing for years. According to UK-based market researcher Euromonitor International, the global retail volume for personal care wipes nearly doubled between 2003 and 2013, from 93 billion units to almost 170 billion units sold, respectively.…

THE WEAKENING of the Chinese currency the Yuan Renminbi – or RMB – last summer and autumn perturbed big-deal investors but it has also meant busy times for the money changers of Hong Kong. USD324 billion was moved out of China in 2014 according to Swiss bank UBS (which calculated official and unofficial currency outflows) but this figure soared in 2015 with a government-engineered devaluation of the Chinese currency which caught investors off guard.…

Many eyes are trained on the Jiading district people’s court in Shanghai this week, which is due to deliver a verdict in the trial of staff from two subsidiaries of the OSI Group LLC, the Illinois-based US meat firm that is a major meat supplier in China.…

The Money Laundering Bulletin has assessed the impact of western financial sanctions on Russia – looking at the impact on anti-money laundering regulation – but what of the compliance demands on financial institutions?

These sanctions are complex, showing how governments can increase the risk of making honest citizens and organisations break the law by imposing complex financial regulations.…

If the 2013 and 2014 were all about the rise of South Korean personal care product brands in China, then 2015 was the year that regional currency wars and weaker economic sentiment at home dictated how Chinese consumers spent on cosmetics and toiletries.…

IT has been a tough year for China’s growing economy, which has experienced some unexpected faltering in 2015, but facial care product sales have continued to surge ahead.

Retailers of these products have posted strong and sustained growth rates, increasing by 8% in the whole of 2014 to Chinese Yuan Renminbi – CNY142 billion (USD22.1 billion) and are estimated to have grown by another 10.2% in 2015, to CNY (also known as RMB) 156.4 billion, according to market researcher Euromonitor International.…

MALAYSIA’S Audit Oversight Board (AOB) has revoked the registration of an audit firm for the first time since the regulator was established by the Securities Commission Malaysia in 2010.

It has scrapped the registration of Wong Weng Foo & Co, managing partner, Wong Weng Foo and partner Abdul Halim Husin, from December 2.…

A SUSTAINABLE garment-making firm in Cambodia has managed to revive the country’s centuries-old, long-forgotten tradition of making clothes out of fibres from Lotus flower stems. Moreover, it has successfully found a growing international niche market for its unique brand of clothes and fabric.…