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Lawrence Cheung C.P.A. Company Limited Represented in Shanghai at Accounting & Law Firm Alliance’s Asia Pacific Regional
 
Date: 15 July 2019

Lawrence Cheung C.P.A. Company Limited Represented in Shanghai at Accounting & Law Firm Alliance’s Asia Pacific Regional Conference
 

Lawrence Cheung C.P.A. Company Limited was represented at Alliott Group’s APAC Regional Conference in Shanghai from 17-18 June 2019.
 
The annual APAC Regional Conference for Alliott Group, an international alliance of 160 independent law and accounting firms in 65 countries, took place at the Mandarin Oriental in Shanghai this year. The event provided a meeting point for members from within the region, but also for members from other world regions who have an interest in expanding their interactions with members in APAC jurisdictions.
 
With Alliott Group pursuing an aggressive global growth strategy, and with 11 firms already joining in 2019, the conference brought together the alliance’s regional leadership team to discuss further growth plans specific to the ASEAN, China and East Asia, Indian Subcontinent and Australian legal markets. During the conference, several new and prospective law firm members from India and China were introduced to the group. 
 
Over two days, interactive conference sessions focused on developing greater understanding and collaboration between Alliott Group member firms. Delegates had the opportunity to present the unique skills and capabilities offered by their firms in their jurisdictions, with workshops focusing on how to extend the alliance’s infrastructure and resources to bridge communications across the large and diverse APAC region.
 
Outside experts from local organizations including NetExpat, Intralink, Elson and AIMS International shared insights into how to target, enter, expand into and win in China’s challenging but lucrative market for goods and services. The topics covered include the pros and cons of different routes to market and distribution strategies, how to protect intellectual property, and how to ensure you get paid and can repatriate profits.
 
The key opportunities for foreign companies were also highlighted, including the licensing of technology into sectors such as aviation, new energy vehicles, high tech shipping and advanced medical products. Money can be made, delegates were told, “But China is challenging, you will need to persist and the playing field can in some situations still be tilted towards local manufacturers.”
 
It was also explained that labour costs are rising in China and that restrictions on hiring expatriates remain. And while China’s legal framework is to international standards, delegates were told that managing and protecting their IP should be at the forefront of any foreign business’ concerns.
 
Local cultural awareness consultant Klaus Schmitt commented that establishing good relations takes time in China and can at times be exhausting. Much communication in China, added Schmitt, takes place at different levels and behind the scenes: “The Chinese might say ‘Next time’ which may actually mean ‘No’.”  Other tips included the need to listen carefully and not jump to conclusions too quickly, to develop trust, avoid conflict rather than being hasty, and that successful negotiations require a meeting of equals.  
 
“This was another successful Conference,” commented Alliott NZ Director Vanessa Williams and Alliott Group APAC Chair based in New Zealand. “Our members are engaged in what the alliance can do for our firms and our clients and we share the leadership’s vision of appointing strong, professional firms across all of the APAC region’s key commercial centres. I encourage independent firms that want to win and service international clients with greater confidence and effectiveness to approach me about how to join our international network.”
 
About Lawrence Cheung C.P.A. Company Limited

Founded in 1978, Lawrence Cheung C.P.A. Company Limited ("LCCPA”) is a professional accounting firm registered under the Professional Accountants Ordinance with the Hong Kong Institute of Certified Public Accountants. Now LCCPA is a leading firm of certified public accountants ("CPA") and business advisers providing an integrated range of services with a commitment to excel in all practice areas. Our portfolio of clients is diverse ranging from SMEs, regulated entities under Securities and Futures Ordinance to multi-national corporations. Our firm comprises more than 40 staff members, including 5 Certified Public Accountants (Practising) and 8 Qualified Public Accountants. Our directors are ex-Big-Four accountants with extensive experiences in audits of both Hong Kong and overseas private and listed companies, taxation, business advisory, computer consultancy, merger and acquisition, company secretary, risk management, initial public floatation, corporate and group restructuring exercises.

We currently have over 1,000 clients with 50% being from overseas. Our clients are engaged in a wide range of industries and businesses. Among them, approximately 65% are in manufacturing and trading industries including manufacture and trading of watches, shoes, garments, computers and electronic products, etc. The other clients are mostly engaged in the property and investment holding, wholesale, retail, entertainment, restaurants, online games, e-commerce and servicing industries. 

About Alliott Group
 
Founded in 1979, and with 160 member firms in 65 countries, Alliott Group is an award-winning international association of independent accounting and law firms that need deeper levels of cross border resources to develop reputation, visibility and new business. Alliott Group provides services to help its member firms to position themselves as the ‘go to’ firms in their local markets for businesses and private individuals with multi-market business interests.
 
For more information

To find out more about how Lawrence Cheung C.P.A. Company Limited can provide professional advisory support to clients doing business in different markets around the world, please contact Miss Amie Cheung or visit our website www.lccpa.com.hk.