Our number one risk this year is digital effectiveness. While the concept of digital mining is not new, there is disconnect between the potential from digital transformation and the successful implementation of new technologies. We believe that digital transformation will be a critical enabler to address the sector’s productivity and margin challenges. Companies risk being left behind by their competition if they are not at the forefront of this.
In 2017, China outbound investment has entered into a steady adjustment period, but the investment structure continued to optimize in the midst of the tightened capital control, the rise of international trade protectionism and the complex global investment environment. On the other hand, the Belt and Road (B&R) development progressed smoothly while China’s mergers and acquisitions (M&As) in ASEAN countries reached a new high, which is expected to lead the way in B&R investment. In...
EY predicts that 2018 would be a significant year for the Belt and Road. The achievements reached during the first Belt and Road Forum for International Cooperation will get further implemented, and the scope of international cooperation will continue to expand.
UAE has become a major regional hub in Middle East and North Africa (“MENA”) region under the Belt and Road Initiative. UAE acts as an important connector when investors look to get a foothold in the MENA market. There are solid foundational economic links between HK and the UAE and opportunities arise through further collaboration.
To further regulate the overseas investment activities of Chinese private enterprises and improve the quality of “Going Abroad”, NDRC, MOFCOM, PBC, MFA and ACFIC jointly promulgated the Regulations on Outbound Investment and Business Activities (“Regulations”) of Private Enterprises on December 6 2017 . In this article we will profile the regulation policies on Chinese enterprises’ overseas investment, and interpret key points of the new “Regulations”.
Engineering and construction (E&C) entities will need to change certain lease accounting practices when implementing IFRS 16 Leases, the new leases standard issued by the International Accounting Standards Board (IASB). IFRS 16 significantly changes the accounting for leases by lessees and it is effective for annual periods beginning on or after 1 January 2019. This publication summarizes the key implications of new standard on E&C entities and describes some sector-specific issues that...
On December 26 2017, NDRC issued the Administrative Measures for Outbound Investment by Enterprises. The new regulation will come into effect on March 1 2018, when it will replace the current Administrative Measures for Approval and Record-filing on Overseas Investment Projects (“Measures”). Compared with the old one, the new “Measures” made significant changes on the regulation of enterprises’ overseas investment, which deserves attention.
Since the Belt and Road (B&R) initiative was proposed four years ago, a number of milestones has been achieved, bringing unlimited business opportunities to mainland Chinese enterprises, especially in the infrastructure, public utilities, energy and other sectors. The 19th National Congress of the Communist Party of China (CPC) further confirmed that China will promote international cooperation and encourage enterprises to accelerate their development along the B&R. EY launched the...
The new standard, IFRS 15 Revenue from Contracts with Customers, is effective for annual reporting periods beginning on or after 1 January 2018. IFRS 15 provides a unified 5-step model on revenue recognition, measurement, presentation and disclosure of contracts with customers, which is required in consolidated financial statements.
NBA China today announced that NBA Champion and two-time NBA All-Star Kawhi Leonard of the San Antonio Spurs will visit China from Aug. 18 – 24 to support the growth of basketball in the country and coach top youth talent from the region at The NBA Academy Zhejiang. This will be Leonard’s first trip to China.