The China Opportunity
|
|
- Cory Stafford
- 7 years ago
- Views:
Transcription
1 The China Opportunity Keith Barr Hotel Indigo, Shanghai on the Bund 1
2 2
3 Greater China in the context of IHG 9mth 2012 Operating profit* Q3 12 open rooms Q3 12 pipeline rooms 9% 9% 31% 91% 91% 69% Greater China Rest of IHG * 9 month 2012 operating profit at constant currency and before central overheads 3
4 China s hotel market is expected to overtake the U.S. by 2025 Projected industry room supply for China Million rooms China USA By 2039 China s room supply will be: 3 4x the size it is today Almost 2x the size of the US market today % CAGR 4.9% CAGR Source: NBS; United Nations World Travel Organization (UNWTO); IHG 4
5 Luxury / upper upscale / upscale is growing fast while midscale remains sizeable 2010 No. of rooms = 2.3m 2020 (likely) No. of rooms = 4.8m 2039 (likely) No. of rooms = 9.1m Luxury / Upper Upscale / Upscale Midscale Economy Source: NBS; China Economy Hotel Survey, IHG 5
6 Significant opportunity for upscale / midscale branded players China branded¹ rooms share growth Other markets branded¹ rooms share Branded Unbranded % 35% 48% US = 70% UK = 60% Continental Europe = 40% IHG share of China branded¹ rooms Q % IHG share China branded rooms All China branded rooms ¹ Branded market defined as operators with more than ten outlets(ihg research) or based on STR Global s classification scheme.. Source: China Statistical Yearbook; China Economy Hotel Survey; STR Global; IHG 6
7 IHG is well established as the leading international hotel operator IHG System Size and Pipeline by Brand, rooms ( 000) Pipeline Q3'12 Source: IHG 7
8 IHG will continue to be the leading global hotel operator in China 120 Greater China system & pipeline 100 System Pipeline 80 No of rooms IHG Wyndham Accor Starwood Marriott Shangri La Hyatt Hilton Source: IHG 30 September 2012; other data is STR Global 30 September
9 Industry leading upscale & midscale distribution 100 No of rooms Pipeline System 57% 86% 20 0 Source: IHG 30 September
10 Our pipeline is not only large, but robust IHG Greater China pipeline by Construction Phase (total number of hotels) Source: IHG 30 Sept 2012 Pre-Construction Under Construction Pre Opening Total 10
11 Sustainable growth strategy high quality growth Aligned with go west development plans Clear, focused development strategy Presence* in 100 cities including Targeting emerging middle class Tier 2 and Tier 3 cities Crowne Plaza Chongqing All four tier one cities 35 out of 38 tier two cities Holiday Inn Nanjing Aqua City Leveraging relationships with multi-unit owners Extend leadership in global cities Crowne Plaza Kunming InterContinental Shanghai Expo Brand defining resorts leverage halo impacts Deepening penetration in high barrier markets InterContinental Resort Sanya Hotel Indigo Hong Kong * Presence defined as hotel currently open or in the development pipeline 11
12 Unrivalled portfolio in Greater China - Open system Total System System Rooms System Hotels HARBIN SUIFENHE 9, MUDANJIANG TOTAL 20, , , , YINCHUAN JIUZHAIGOU CHENGDU XI AN CHONGQING SHENYANG TANGSHAN DANDONG QINGHUANGDAO HOHHOT BEIJING DALIAN DATONG ORDOS TIANJIN SHIJIAZHUANG YANTAI JINAN QINGDAO ZHENGZHOU NANTONG HUANGSHAN NANJING SUZHOU CHANGSHU MAANSHAN CHANGZHOU WUXI SHANGHAI HEFEI WUHU XIANGFAN WUHAN HANGZHOU YICHANG NINGBO CHANGSHA NANCHANG SHAOXING LIJIANG KUNMING FOSHAN GUANGZHOU XIAMEN HUIZHOU DAYA BAY ZHONGSHAN ZHUHAI SHENZHEN TAIWAN HONGKONG/MACAU ZHANJIANG HAINAN Source: IHG 30 September
13 Unrivalled portfolio in Greater China - development pipeline Pipeline Pipeline Rooms Pipeline Hotels DAQING HARBIN JILIN 10,182 18, CHANGCHUN CHANGBAISHAN SHENYANG ANSHAN 11, BEIJING PANJIN 6,524 4, TOTAL 51, LHASA BAOTOU TAIYUAN BAODING ORDOS WEIHAI TIANJIN ZHENGZHOUJINAN QINGDAO LUOYANG YANCHENG LANZHOU XUZHOU ZHENJIANG NANYANG NANJINGJIANGYIN XI AN NANTONG HUANGSHAN TAICANG CHANGZHOU WUXI CHENGDU HEFEI KUNSHAN SHANGHAI YANGZHOU DUJIANGYAN CHONGQING WUHANCHAOHU YICHANG HANGZHOU NINGBO ZHANGJIAJIE SHAOXING YIWU WENZHOU NANCHANG GUIYANG FUZHOU LONGYAN QUANZHOU PUTIAN LIJIANG GUANGZHOU ZHANGZHOU HUIZHOU SHUNDE KUNMING DONGGUANZHUHAI TENGCHONG NANNING FOSHAN TAIWAN XISHUANGBANNA HONGKONG/MACAU YANGJIANG HAINAN Source: IHG 30 September
14 Brand strength - IHG s new brand for Greater China HUALUXE Hotels & Resorts - upscale Consumer need for an international Chinese 5-star hotel IHG name reassurance over quality & consistency F&B key to the guest experience 12 signed into the pipeline, 14 letters of intent signed* First hotel expected to open early 2014 * As at 30 September
15 Brand strength - InterContinental Hotels & Resorts The second largest international luxury hotel brand in China for both distribution and brand awareness Source: IHG 30 Sprtember 2012, Millward Brown Brand Tracker report, STR September Open Pipeline Total Hotels Rooms 9,517 10,182 19,699 Competitive set includes: Westin, Hyatt, JW Marriott, Conrad, Shangri-La and Sofitel 15
16 Brand strength - Crowne Plaza Largest international upscale (five star) brand in Greater China Source: IHG 30 September 2012, STR September 2012 Open Pipeline Total Hotels Rooms 20,553 18,784 39,337 Competitive set includes: Hilton, Marriott, Sheraton, Pullman and Renaissance 16
17 Brand strength - Hotel Indigo First international branded boutique hotel in mainland China (upscale) Source: IHG 30 September 2012 Open Pipeline Total Hotels Rooms Competitive set includes: Independent boutique hotels and W Hotels (Hong Kong) 17
18 Brand strength - Holiday Inn The most widely recognised international full service hotel brand in China (is four star rated) Source: IHG 30 September 2012, Millward Brown Brand Tracker report Open Pipeline Total Hotels Rooms 20,579 11,302 31,881 Competitive set includes: Doubletree, Four Points by Sheraton, Courtyard and Novotel 18
19 Brand strength - Holiday Inn Express The most widely recognised international limited service hotel brand in China Source: IHG 30 September 2012, Millward Brown Brand Tracker report Open Pipeline Total Hotels Rooms 9,154 6,524 15,678 Competitive set includes: Ibis 19
20 Why IHG is winning in China Well established as the leading international hotel operator Broad portfolio of strong brands in key locations Longest established loyalty programme The deepest relationships with key strategic partners The most focused development strategy Localisation of brands and business model Only international hotel company with dedicated, stand alone region reporting directly to the CEO Largest people infrastructure 20
21 A highly profitable business 2011 total gross revenues² of $1.9bn (from all hotels) Continued investment to support growth plans Fee revenue now driving margins 85% of managed hotels paying incentive fees in 2011 No capital expenditure requirements China financial results¹ $m Revenue Costs (27) (49) EBIT 8 30 Margin 23% 38% 1: Managed and Franchise business only 2: Total room revenue from franchised hotels and total hotel revenue from managed, owned and leased hotels, It is not all attributable to IHG. 21
22 Our share potential China industry rooms growth IHG illustrative rooms potential Maintain c.10% of branded share China hotel rooms (m) c.20% branded¹ 2.3m 0.5m 1.8m c.48% branded¹ 7.5m 3.6m 3.9m Unbranded Branded IHG Greater China rooms( 000) k 360k ¹Branded market defined as operators with >10 outlets Source: NBS; China Economic Hotel Survey; Global STR; IHG 22
23 Summary Rapid economic growth and urbanisation will drive hotel market Huge opportunity for growth in branded rooms IHG is the number one international hotel operator in China Most established relationships with key strategic partners The most focused development strategy Our insight is second to none 23
24 Q&A Crowne Plaza, Harbour City, Shanghai 24
25 A managed model with minimal capital expenditure Management contract focus (98% of system and pipeline) Ensures consistent delivery of guest experience Imbeds operational capability Preferred by owners with limited operating experience Potential to franchise Holiday Inn Express given the more standardised operating model Contract terms Base fee = 2% gross revenues Incentive fee = 6% - 8% of gross operating profit Length of contract: years No fee discounting No requirements for guarantees Use of capex To date no capital expenditure requirements 25
26 The China Opportunity Keith Barr Hotel Indigo, Harbour View, Xiamen 26
BMW DEALER NETWORK IN CHINA
BMW DEALER NETWORK IN CHINA DR. DANIEL KIRCHERT SENIOR VICE PRESIDENT, SALES & MARKETING BMW BRILLIANCE AUTOMOTIVE OCTOBER 19, 2012 CONTENTS. Leading in city coverage Best quality dealer network Sustainable
More informationSTARWOOD IN GREATER CHINA
STARWOOD IN GREATER CHINA QIAN JIN PRESIDENT GREATER CHINA 48 W HONG KONG GREATER CHINA REPRESENTS AN UNMATCHED GROWTH OPPORTUNITY CHINA US Population 1.3B 0.3B Metro Areas with Population>1M 171 37 International
More informationIntroduction. Taxes Supported. E tax Payment Service
Introduction To allow corporate clients to pay taxes (levied by both State Tax Bureau and Local Tax Bureau) electronically, HSBC Bank (China) Company Limited (HSBC China) has completed the system development
More informationVWNMS Dr. Frank Galas 24 th September 2014 Volkswagen Leasing China 1
1 Leasing is the natural choice for commercial customers Fixed low monthly leasing payments full transparency and cost control No bound capital and higher financial freedom for the business Off balance
More informationBMW China. Dealer Development.
Page 1 BMW China.. Dealer Development September 2010 Sheer Driving Pleasure Page 2 China auto market overview. Both total Passenger Vehicle (PV) market and plus segment have been growing quickly over the
More informationAlways Beside You, Make All Customers Satisfied
Always Beside You, Make All Customers Satisfied Beijing Shenyang Xi an Qingdao Chengdu Wuhan Shanghai Guangzhou Xiamen Branch Offices Distribution Customer Service Center Distribution OMRON INDUSTRIAL
More informationCities Research Center, 2015. China60: From Fast Growth to Smart Growth
Cities Research Center, 2015 China60: From Fast Growth to Smart Growth 2 Cities Research Center China60 Cities Research Center China60 3 Contents Foreword 5 Executive Summary 7 Introducing the China60
More informationDevelopment of High-Speed Railways in China
Development of High-Speed Railways in China Kiyoharu Takagi Introduction The rapid developments seen recently in high-speed railways in China are astonishing. The lengths and speeds of lines in operation
More informationChina - One Nation, Multiple Markets
Hong Kong Your Fast Track to China China - One Nation, Multiple Markets Presented by : Fanny Ting Marketing Director Victorinox Hong Kong Limited Agenda 1. How Victorinox Hong Kong (VHK) sees the China
More informationSocial Insurance in China
Issue 138 November 2013 From Dezan Shira & Associates Social Insurance in China Overview of Social Insurance in China Foreigners Participation in China s Social Insurance System Determining Minimum and
More informationBDO s. Setting up a business in China can. BDO China unlocked
china unlocked BDO China unlocked BDO s expertise and international reach Over the last two decades China has firmly put itself on the map as a country in which to invest, to date mainly for Manufacturing
More informationThe People s Republic of China
Tax The People s Republic of China Tax Facts and Figures 2007 PricewaterhouseCoopers. All rights reserved. "PricewaterhouseCoopers" refers to the China firm of PricewaterhouseCoopers or, as the context
More informationFrequently Asked Questions: Advanced Placement (AP) Exam
Frequently Asked Questions: Advanced Placement (AP) Exam Before the test Q1. How to register for the AP? A1. You may register online via the Hong Kong Examinations and Assessment Authority (HKEAA) website
More informationInterContinental Hotels. Focusing on the managed and franchised business
InterContinental Hotels Focusing on the managed and franchised business 1 Objectives Explain why IHG s franchised and managed business is attractive to shareholders and why focusing on it plays to our
More informationChina Pulse December 20 th, 2011
China Pulse December 20 th, 2011 Business Travel in Mainland China and Hong Kong Understanding the Travel & Behavioral Preferences of Business Travelers in Mainland China and Hong Kong Contents Business
More informationChina Internet. Report. The Second Quarter of 2013. Content-aware Network Services. en.chinac ache. com. www.ccindex.cn. ChinaCache.
Content-aware Network Services China Internet en.chinac ache. com www.ccindex.cn Report The Second Quarter of 201 ChinaCache ChinaCache_CCIH ChinaCache International Holdings Ltd. Table of Contents Abstract
More informationAndrew Cosslett Chief Executive
Andrew Cosslett Chief Executive IHG's journey Goal Target Faster growth by making IHG s brands the first-choice for guests and hotel owners By end 2008: Net, organic growth of 50,000-60,000 rooms Strategy
More informationHiroshi Okada. Overview of China Railway Network. High-Speed Railways in Asia
High-Speed Railways in Asia Hiroshi Okada Overview of China Railway Network China s railway network is expanding rapidly as more than 1000 km of new lines are constructed each year; some are built to separate
More informationBlueScope Butler China
China Shanghai Analyst Briefing - Shanghai 12th November, 2004 Presented by: Mike Alossi President BlueScope Steel China Tianjin Presentation Outline 1. Overview 2. Facilities and Processes 3. Products
More informationKevin Kowalski Vice President, Crowne Plaza Brand
Kevin Kowalski Vice President, Crowne Plaza Brand -0- Crowne Plaza is a 21 year old brand with two distinct eras Began as a line extension Holiday Inn Crowne Plaza Brand changes to Crowne Plaza by Holiday
More informationJunior Colleges 1266 in total Beijing Municipality (26 in total) Tianjin Municipality (25 in total)
II Junior Colleges(1266 in total) Beijing Municipality (26 in total) Beijing Youth Politics College Beijing Science Technology Management College Beijing Electronic Science & Technology Vocational College
More informationAsia Office locations Bangkok Beijing Hanoi Ho Chi Minh City Hong Kong Shanghai Singapore
Asia Office locations Bangkok Beijing Hanoi Ho Chi Minh City Hong Kong Shanghai Singapore Singapore We have been advising our clients on Singapore-related matters from our other Asia offices for years.
More informationNotes to the Report Basis of Preparation The report is prepared in accordance with Guidelines for National Enterprises on Fulfilling Corporate Social Responsibility (released by State-owned Assets Supervision
More informationSuccess Stories of Part of Customers (2009~2010)
Success Stories of Part of Customers (2009~2010) Mercer (China) Limited. Mercer is company of MMC Group which is the one of biggest company in Finance insurance and HR consulting company around the world,
More informationA Trusted Brand Growing Through Diligence and Care
China Overseas Land & Investment Ltd. Annual Report 2014 China Overseas Land & Investment Ltd. 10/F, Three Pacific Place, 1 Queen s Road East, Hong Kong Tel: 2823 7888 Fax: 2865 5939 www.coli.com.hk Stock
More informationChina: Business Opportunities and Challenges
China: Business Opportunities and Challenges March 3, 2005 Agenda Vitro Overview Business Opportunities in China Business Challenges in China 1 Vitro's Profile 2004 3Q-LTM Sales 1 : US$2,261 Mill 90% of
More informationSourcing & Selling in China via Hong Kong. Bonnie Shek Director, Australia & New Zealand
Sourcing & Selling in China via Hong Kong 1 Bonnie Shek Director, Australia & New Zealand Why Hong Kong? Latest development How HKTDC can help? 2 Hong Kong Advantages Resilient Economy Ideal Location Dynamic
More informationikang Healthcare Group, Inc.
ikang Healthcare Group, Inc. Q4 & FY2013 Financial Results Presentation June 2014 Forward-looking Statement This presentation contains forward-looking statements. These statements, including management
More informationSiemens in China Profit and Growth Dr. Richard Hausmann, President & CEO Siemens Ltd., China
Siemens in China Profit and Growth Dr. Richard Hausmann, President & CEO Siemens Ltd., China Siemens Analyst conference Beijing, March 14, 2005 Safe Harbor Statement This presentation contains forward-looking
More information2015 Salary Watch for China
real state Talent IT policy media luxury healthcare 2015 Salary Watch for China Overview One year has passed since the previous BRecruit Salary Watch was released. As a set of information on various types
More informationGlobal MetroMonitor. An Uncertain Recovery
Global MetroMonitor An Uncertain Recovery 2 0 1 4 the brookings institution metropolitan policy program 2015 Global MetroMonitor An Uncertain Recovery 2 0 1 4 Joseph Parilla, Jesus Leal Trujillo, and Alan
More informationInfrastructure in China: Foundation for growth
INFRASTRUCTURE Infrastructure in China: Foundation for growth INFRASTRUCTURE, GOVERNMENT & HEALTHCARE Contents Introduction 1 China s stimulus package 2 Roads 4 Rail and metro 6 Ports 11 Airports 14 Utilities
More informationJ.D. Power Reports: Hotel Guest Satisfaction Reaches All-Time High; Incidence of Problems Hits Record Low
w J.D. Power Reports: Hotel Guest Satisfaction Reaches All-Time High; Incidence of Problems Hits Record Low The Ritz-Carlton; Omni Hotels & Resorts; Hyatt Place; Drury Hotels; Wingate by Wyndham; Microtel
More informationThe IOT Industry of China Overview
The IOT Industry of China Overview Jianning (Johnny) Zhang Secretary General Z-Park Internet of Things Industry Alliance 2014/6/24 What is the Next Big Opportunities On cooperation Europe China in Smart
More informationVolkswagen Financial Services Strategy and business development in China
Volkswagen Financial Services Strategy and business development in China Harald Müller General Manager, Volkswagen Finance (China) Co., Ltd. Beijing, 14 April 2015 Volkswagen Group Leveraging the power
More informationCuracao Private Foundation
Curacao Private Foundation By Jason A. Blatt Pamir Law Group jblatt@pamirlaw.com Copyright 2008 All Rights Reserved By Pamir Old Chinese Saying: Wealth Cannot Last Three Generations But in the West, Wealth
More informationChina Property Sector Expecting lower policy risk due to stabilizing home prices
19 September 2012 Equity Focus Key Data Average FY12E PE (x) 5.69 Average FY12E PB (x) 1.14, ABCI Securities HSCIPC performance (%) Absolute Relative* 1-mth 6.3 3.8 3-mth 10.3 4.5 6-mth 6.2 7.7 *Relative
More informationHow We Sell Franchise and Management Contracts. Kirk Kinsell Senior Vice President, Franchising and Business Development
How We Sell Franchise and Management Contracts Kirk Kinsell Senior Vice President, Franchising and Business Development Successful franchising requires meeting 3 simultaneous needs Price / value Meet needs
More informationRoadshow China 2009 bis 2015
Roadshow China 2009 bis 2015 Chefarzt Privatdozent Dr. Klaus Lerch, Klinik für Orthopädie und Unfallchirurgie, Landshut 29. August 05.September 2015: Beijing, Laiwu, Liaocheng, Hefei The People s Hospital
More informationWillis China Willis Pudong Insurance Broker Co., Ltd Introduction and Overview
Willis China Willis Pudong Insurance Broker Co., Ltd Introduction and Overvie Click Here to Enter Expertise ith Local Knoledge and Delivery Overvie Overvie Our Teams Our Netork Facts at a Glance Willis
More informationHKSAR Budget Summary 2016-2017
SHINEWING HONG KONG www.shinewing.hk HKSAR Budget Summary 2016 2017 (24 February 2016) 201617 HKSAR Budget The 201617 HKSAR Budget speech was delivered earlier today. As expected publicly and in view of
More informationBuilding lasting guest relationships June 2010. Hotel Indigo Scottsdale, USA
1 Building lasting guest relationships June 2010 Hotel Indigo Scottsdale, USA 2 IHG s growth strategy to create sustainable value Making best use of our scale to build and grow preferred hotel brands for
More informationWorkshop Management Office: Fairlink Exhibition Services Ltd.
PhD Workshop 2015 State 211 Project State 211 Project is the Chinese government's new endeavor aimed at strengthening about 100 institutions of higher education and key disciplinary areas as a national
More informationContents. Corporate Information 02. Honors and Awards 03. Chairman s Statement 05. Management Discussion and Analysis 09. Business Review 09
Contents Corporate Information 02 Honors and Awards 03 Chairman s Statement 05 Management Discussion and Analysis 09 Business Review 09 Financial Review 19 Disclosure of Interests 25 Corporate Governance
More informationLISTADO DE UNIVERSIDADES ESPAÑOLAS QUE HAN SUSCRITO ACUERDOS CON UNIVERSIDADES CHINAS
Embajada De España En China CONSEJERIA DE EDUCACIÓN LISTADO DE UNIVERSIDADES ESPAÑOLAS QUE HAN SUSCRITO ACUERDOS CON UNIVERSIDADES CHINAS [Actualizada en 5 de mayo de 2011] Nº Universidad españolas (por
More informationHOTEL BEDS COLLECTION
HOTEL BEDS COLLECTION The journey of luxurious comfort begins here... we MAKE THE WORLD S BEST HOTEL BEDS Slumberland Hotel Beds Collection is made with combination of luxurious design and outstanding
More informationInstitute of Pharmacology under Chinese Academy of Medical Sciences Institute of Zoology under Chinese Academy of Medical Sciences
BIOPAC Users List Institute of Pharmacology under Chinese Academy of Medical Sciences Institute of Zoology under Chinese Academy of Medical Sciences National Examination Centre of Medicine and Biological
More informationAn Analysis of Hotel Financial Management in China
Journal of Hospitality Financial Management The Professional Refereed Journal of the Association of Hospitality Financial Management Educators Volume 15 Issue 2 Article 5 3-5-2010 An Analysis of Hotel
More informationECONOTE N 14. Société Générale Economic studies department CHINA: HOUSING PROPERTY PRICES: FAILING TO SEE THE FOREST FOR THE TREES
N 14 APRIL 2013 ECONOTE Société Générale Economic studies department CHINA: HOUSING PROPERTY PRICES: FAILING TO SEE THE FOREST FOR THE TREES The lack of consistent data makes it difficult to assess property
More informationChina: The second home market of the Volkswagen Group
China: The second home market of the Volkswagen Group Carsten Isensee Executive Vice President Finance, Volkswagen Group China HSBC Roadshow, Hongkong, 24-25 November 2014 Business overview and sales performance
More informationHead 79 INVEST HONG KONG
Controlling officer: the Director-General of Investment Promotion will account for expenditure under this Head. 2014 15... $115.0m Establishment ceiling 2014 15 (notional annual mid-point salary value)
More informationDelta Privilege and Hilton HHonors Rank Highest in a Tie in Overall Customer Satisfaction with Hotel Loyalty/Rewards Programs
J.D. Power Reports: Hotel Loyalty and Reward Program Features and Benefits Prove Key to Member Satisfaction Regardless of the Number of Hotel Brand Locations Delta Privilege and Hilton HHonors Rank Highest
More informationMarket opportunities in China. Summary of market research on China for the early childhood education sector
Market opportunities in China Summary of market research on China for the early childhood education sector Targeted cities in China Seven locations (eight cities) have been selected as the main targets
More informationTake your first steps. to become global professionals 加 入 德 勤 舞 出 成 就 第 一 步. Take your first steps. to becoming global professionals
Take your first steps to become global professionals 加 入 德 勤 舞 出 成 就 第 一 步 Deloitte China, 2014 Take your first steps to becoming global professionals 2013 Deloitte Touche Tohmatsu About Deloitte Take
More informationCHINA S HOTEL INDUSTRY TAKES A NEW DIRECTION
CHINA S HOTEL INDUSTRY TAKES A NEW DIRECTION www.hotelanalyst.co.uk Contents BACKGROUND 1 ECONOMY 3 DEMOGRAPHICS 4 TRANSPORT 5 TOURISM 7 HOTEL MARKET 12 INVESTMENT 20 FUTURE TRENDS 22 Tourism KEY CITIES/REGIONS
More informationHundred Centers Thousand Brands Billion Visits
(Stock code: 3699.HK) Annual Report 2014 Hundred Centers Thousand Brands Billion Visits Corporate Profile Wanda Plazas are City Centers Wanda Commercial is committed to building China s largest network
More informationHKMA Seminar Tax Evasion in Hong Kong. 30 October 2013
HKMA Seminar Tax Evasion in Hong Kong 30 October 2013 Contents - Control environment and risk mitigation Know Your Customer 3 Voluntary Tax Compliance 5 Tax Evasion Red Flags 6 Suggested Approaches 9 Case
More informationInfrastructure in China
INFRASTRUCTURE Infrastructure in China Sustaining quality growth kpmg.com/cn Sustaining quality growth Infrastructure in China 3 Contents 4 Introduction 6 12 th Five-Year Plan 10 Roads 14 Railways 18
More informationStock code: 2777. Annual Report
Stock code: 2777 2015 Annual Report About R&F One of China s largest and most well-known property developers, Guangzhou R&F Properties Co., Ltd. ( R&F or the Company, together with its subsidiaries, collectively
More informationInternal Audit Landscape 2014
Internal Audit Landscape 2014 Agenda Examining the evolution of risk in today s digital world and the impact on traditional audit, security, risk, and compliance functions Emerging internal audit methodologies
More informationIntroduction about CSR Rail. Transit Vehicles
NEW CSR NEW CREATION Introduction about CSR Rail Transit Vehicles May 16 th, 2013 Table of contents Part 1 Part 2 Part 3 Rail Transit Development in China Technology Development of CSR Urban Rail Vehicles
More informationCurrent fuel quality and vehicle emission standards - challenges and opportunities in Asia
Clean Air Initiative for Asian Cities Center Current fuel quality and vehicle emission standards - challenges and opportunities in Asia Glynda Bathan Policy and Partnership Manager Regional Workshop on
More informationTABLE CNS 4B ATS AUTOMATION SYSTEMS EXPLANATION OF THE TABLE. 1 Name of State/Territory and location of ATS automation systems within the State
IV-CNS 4B-1 TABLE CNS 4B ATS AUTOMATION SYSTEMS EXPLANATION OF THE TABLE Column 1 Name of and location of ATS automation systems within the State Air traffic services unit by the ATS automation systems
More informationChina's provinces: Mapping the way forward
Total China Research Briefing Emerging markets June 11, 215 Author Hannah Levinger* +49 69 91-31753 hannah.levinger@db.com Editor Maria Laura Lanzeni Deutsche Bank AG Frankfurt am Main Germany E-mail:
More informationIBM CHINA/HONG KONG LIMITED Fact Sheet
IBM CHINA/HONG KONG LIMITED Fact Sheet IBM CORPORATION International Business Machines Corporation, headquartered in Armonk, N.Y., creates business value for clients and solves business problems through
More informationHotels & Hospitality Group June 2014. Hotel Destinations China
Hotels & Hospitality Group June 2014 Hotel Destinations China Welcome to the inaugural edition of our Hotel Destinations China publication, a biannual overview providing a snapshot of key hotel markets
More informationDoing Business in China
Doing Business in China Prepared by: Calvin Man Head of international Business HSBC China Date: 22 November 2012 Agenda China Overview Doing Business in China Banking Guidelines RMB Internationalisation
More informationCapitaMalls Asia Limited Asia s Leading Mall Developer, Owner and Manager
CapitaMalls Asia Limited Asia s Leading Mall Developer, Owner and Manager Singapore China Malaysia Japan India CapitaLand Debt Investors Day 0 14 August 2013 Disclaimer This presentation may contain forward-looking
More informationTHE END OF THE CHINA CYCLE? How to successfully navigate the evolution of low cost manufacturing
THE END OF THE CHINA CYCLE? How to successfully navigate the evolution of low cost manufacturing Our view on manufacturing footprint optimization Detroit December 2011 The China "low cost" manufacturing
More informationHead 79 INVEST HONG KONG
Controlling officer: the Director-General of Investment Promotion will account for expenditure under this Head. 2016 17... $128.2m Establishment ceiling 2016 17 (notional annual mid-point salary value)
More informationFrasers Hospitality Pte Ltd. Blue Ocean Strategy What is the reason for existence? Finding a niche market Serviced Residences versus Hotel
Frasers Hospitality Pte Ltd Balridge Programme The 25 th Annual Quest for Excellence Conference Baltimore Marriott Waterfront 08 April 2013 Blue Ocean Strategy What is the reason for existence? Finding
More informationDEVELOPMENT PRESENTATION
DEVELOPMENT PRESENTATION INTRODUCTION GREAT EAGLE HOLDINGS LIMITED Founded by Chairman Y.S. Lo in 1963 Listed on the Hong Kong Stock Exchange in 1972 Focus on owning and operating quality assets o Residential
More informationListing of Beneficiary Banks under KBank for China Direct
00632 BANK OF CHINA LIMITED BOZHOU ANHUI ANHUI 00636 BANK OF CHINA LIMITED CHAOHU ANHUI ANHUI B80M9 BANK OF CHINA LIMITED CHIZHOU ANHUI ANHUI 00637 BANK OF CHINA LIMITED HUAIBEI ANHUI ANHUI 00627 BANK
More informationChina High-Speed Rail On the Economic Fast Track
MORGAN STANLEY BLUE PAPER MORGAN STANLEY RESEARCH Global On the Economic Fast Track The biggest transportation infrastructure project in history is transforming the Chinese landscape. Large sections of
More informationCan Online Annual General Meetings Increase Shareholders Participation in Corporate Governance? Evidence from China *
Can Online Annual General Meetings Increase Shareholders Participation in Corporate Governance? Evidence from China * Huasheng Gao Nanyang Business School Nanyang Technological University S3-B1A-06, 50
More informationCBRE GROUP INC. leadership in every major market Respect, Integrity, Service and Excellence (RISE)
CHINA SERVICES CBRE GROUP INC. Headquartered in Los Angeles, CBRE Group Inc. is the world s largest commercial real estate services firm (in terms of 2012 revenue). We are a Fortune 500 and S&P 500 company
More informationStock Code : 493. Product Experts. Mobile. Online. In-store ANNUAL REPORT
Stock Code : 493 Mobile Product Experts Omni- Channel Retailer In-store Online ANNUAL REPORT 2013 Content 2 3 4 8 12 35 40 48 64 67 81 83 84 85 87 89 91 92 200 GOME at a Glance Five Year Financial Summary
More informationUNDERSTANDING THE CHINESE EDUCATION SYSTEM AND MATCHING DANISH AND CHI- NESE EDUCATION INSTITUTIONS
UNDERSTANDING THE CHINESE EDUCATION SYSTEM AND MATCHING DANISH AND CHI- NESE EDUCATION INSTITUTIONS FEBRUARY 2014 CONTENTS BACKGROUND AND INTRODUCTION 1 MATCHING CHINA AND DENMARK S EDUCATION SYSTEMS 2
More informationIntroduction of Dacheng Law Office
Introduction of Dacheng Law Office Founded in 1992, Dacheng Law Offices LLP is one of the first and largest partnership law firms in China. For six consecutive years between 2005 and 2010, Dacheng had
More informationMr. Qiao Jin, Performance Management Department, CMPD Operation Management Center
Performance management is the core of the management and control system of the Company. Its major functions in enterprise development are manifested in four respects: 1) alignment towards corporate goals,
More informationMarket opportunities in China. Summary of market research on China for the VET sector
Market opportunities in China Summary of market research on China for the VET sector Targeted cities in China Seven locations (eight cities) have been selected as the main targets for the promotion of
More informationOne Complimentary Night. Hotel List
One Complimentary Night Hotel List USA Las Vegas Golden Nugget USA Las Vegas M Resort Spa Casino USA Las Vegas Luxor USA Las Vegas The Signature USA Los Angeles Portofino Hotel and Marina, Redondo Beach
More informationTax Analysis. China relaxes foreign exchange procedures on outbound payments. for trade in services. PRC Tax. Tax Issue P184/2013 26 July 2013
Tax Issue P184/2013 26 July 2013 Tax Analysis Authors: Hong Ye Tel: +86 21 6141 1171 Email: hoyeqinli@qinlilawfirm.com 1 PRC Tax China relaxes foreign exchange procedures on outbound payments for trade
More informationFINLAND S HOTEL INDUSTRY: ONE-SIDED AND CENTRALIZED
FINLAND S HOTEL INDUSTRY: ONE-SIDED AND CENTRALIZED Martti Palonperä Vespertie 8 A 8, 00320 Helsinki mobile +358 40 555 4707 martti.palonpera@hia.fi - www.hia.fi 2 FINLAND S HOTEL INDUSTRY - ONE-SIDED
More informationElectrical Appliances Sector China
Electrical Appliances Sector China March 2014 Produced by: - 1 - Table of Contents I. Sector Overview 1. Sector Highlights 2. Economic Importance 3. Revenues & Profit 4. Sector Forecast 5. Sector Costs
More informationL 209/28 SV Europeiska unionens officiella tidning 3.8.2013
L 209/28 SV Europeiska unionens officiella tidning 3.8.2013 BILAGA Förteckning över företag Jiangsu Aide Solar Energy Technology Co. Ltd Anji DaSol Solar Energy Science & Technology Co. Ltd Anhui Schutten
More informationAD1939. The undertaking applies to the following commodity codes only: Consigned from PR China. (& Article V GATT does not apply) Other (origin China)
AD1939 Accepting the undertaking offered by named exporting producers of Crystalline Silicon Photovoltaic Modules and Key Components, originating in or consigned from the People s Republic of China. The
More informationCHINA RAILWAY GROUP LIMITED
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness
More informationHKFRS Update. March 2013 year-end focus areas. Background. What are the new and revised HKFRSs that are effective as at 1 April 2012?
HKFRS Update March 2013 year-end focus areas April Newsletter Issue No. 2/2013 Background This update serves as a reminder and provides a summary of significant areas to consider in preparing your financial
More informationAnnual Development Report on China's Trademark Strategy 2010
Annual Development Report on China's Trademark Strategy 2010 TRADEMARK OFFICE/TRADEMARK REVIEW AND ADJUDICATION BOARD OF STATE ADMINISTRATION FOR INDUSTRY AND COMMERCE PEOPLE`S REPUBLIC OF CHINA Comprehensively
More informationGLOBAL INSIGHT AUTOMOTIVE SEMINAR
GLOBAL INSIGHT AUTOMOTIVE SEMINAR 12 JUNE 2007 OKURA GARDEN HOTEL SHANGHAI Do Diesel Cars Have a Future in China and Other Asian Markets? Tianshu Xin Director, Global Technical Research A Reminder: Compared
More informationGLOBAL METROMONITOR SLOWDOWN, RECOVERY, AND INTERDEPENDENCE
GLOBAL METROMONITOR SLOWDOWN, RECOVERY, AND INTERDEPENDENCE 2 0 1 2 the brookings institution metropolitan policy program 2012 Global MetroMonitor Slowdown, Recovery, and Interdependence 2 0 1 2 Emilia
More informationDream. The Strategic Report on pages 2 to 51 was approved by the Board on 16 February 2015 George Turner, Company Secretary
Annual Report and Form 20-F Contents Strategic Report 2 IHG at a glance 4 Our preferred brands 6 Chairman s statement 8 Chief Executive Officer s review 10 Industry overview 12 Our business model 14 Our
More informationTotal Cash and Working Capital
Total Cash and Working Capital Getting the most out of cash and working capital advisory Today s environment Cash is key to the survival and growth of a business To satisfy shareholders To run the business
More informationTotal Cash and Working Capital
Total Cash and Working Capital Getting the most out of cash and working capital ADVISORY Today s environment Cash is key to the survival and growth of a business To satisfy shareholders To run the business
More informationwww.hams.ie Hotel Asset Management Services
Hotel Asset Management Services HAMS (Hotel Asset Management Services) is a multidiscipline rapid response unit which can provide owners, lending institutions and receivers with a range of hands-on options
More informationJoint MBA Programs in China
SAMPLE ISSUE July 2013 IN THIS ISSUE Feature Topic 1 Joint MBA Programs in China 50,000 Chinese MBA a Bright Future? graduates each year, but only 4% from international programs China s MOE approves an
More informationBRAND FACT SHEET. established resort destinations as well as emerging luxury markets throughout the world.
BRAND FACT SHEET Brand Overview: History: Target Guest: Competitive Frame: Development Strategy: Hotel Attributes JW Marriott Hotels & Resorts is Marriott International s luxury brand that consists of
More informationSAGA The fantastic and impact long-running true stories. A dramatic documentary television daily timeslot on a hundred Chinese TV Stations
SAGA The fantastic and impact long-running true stories A dramatic documentary television daily timeslot on a hundred Chinese TV Stations over ten years About LIC-BCBC SAGA The TV Timeslot The Brand Everywhere
More informationHematopoietic Stem Cell Transplantation in Mainland China
Hematopoietic Stem Cell Transplantation in Mainland China On behalf of CSBMT and CMDP October, 2014 APBMT Hangzhou HSCT Units in Mainland China n =110 Distribution of Transplant Numbers Hangzhou Others
More information