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Latin DeskYour home away from home

7SptimoAniversario

th YearAnniversary

Consultora Asesora SoporteConsultancy Advisory Support

Capitalizar las OportunidadesAprovechar las VentajasControlar el Riesgo

Capitalizing the OpportunitiesHarnessing the AdvantagesControlling the Risks

May 2013

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Our MissionNuestra Misin

To be the undisputed top-of-mind service provider both in Hong Kong

and China for Latin American and Spanish companies

To engage and inspire more business partners globally

To ignite the emotional attachment with our clients

To promote the social awareness, ethical recruitment and cultural

understanding between Latin America, Spain, Hong Kong and China

To create innovative and sustainable growth platforms for the Latin Desk

and CWCC

To deliver integrity and commitment to ethical professional practice

Ser el prestador de servicios lider para compaas latinoamericanas y

espaolas, en Hong Kong y China.

Atraer a ms socios comerciales alrededor del mundo.

Mejorar la relacin con nuestros clientes.

Promover la conciencia social y el entendimiento cultural entre

Latinoamrica, Espaa, Hong Kong y China.

Crear plataformas de crecimiento innovador y sostenible para el Latin

Desk y CWCC

Servir con integridad y compromiso en la tica de las practicas

profesionales

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Dear Friends,

Warmest greetings and all the best wishes to

you.

This year, we are celebrating the 7th

anniversary of the establishment of our Latin

Desk.

I am grateful to my enthusiastic team

members who have been working very hard

with me in the past 7 years. Throughout my

Latin Journey, I have gone through many

experiences good and bad and the three

words Faith, Service and Community havebeen my guidepost. No doubt, the Latin Desk

has broadened my exposure far beyond from

what I have heard and learnt before.

2012 was a challenging year on the globaleconomic stage. Continuing uncertainty

about the prolonged financial crisis

worldwide has affected the businesses of

many. Fortunately, Asia has remained

economically dynamic and Hong Kong is right

at its heart and Mainland China still has its

economy growing we count our blessings.

Against this background, Hong Kong

continues to be an attractive business hub

for overseas corporations, including from

Latin America, Spain and Italy, where thereis a growing trend for these overseas

businesses to move their operation to Hong

Kong, and also to China through Hong Kong,

primarily because of our simple and low tax

regime, free flow of information and an

unrivalled geographic location.

Thomas Wongs MessageMensaje de Thomas Wong

Queridos Amigos,

Mis mas gratos saludos y buenos deseos

para ustedes,

Este ao, estamos celebrando el sptimo

aniversario de la creacin de nuestro Latin

Desk.

Estoy muy agradecido con los entusiastas

miembros de mi equipo quienes han estado

trabajando muy duro conmigo durante los

ltimos 7 aos. A lo largo de mi Travesa

Latina, he tenido muchas experiencias

buenas y malas y las tres palabras que me

han guiado han sido: F, Servicio y

Comunidad. Sin duda, el Latin Desk hadesarrollado mi conocimiento mucho ms

all de lo que yo haba odo y aprendido

antes.

El 2012 fue un ao de muchos retos en el

aspecto econmico mundial. La

incertidumbre constante acerca de la

prolongada crisis financiera alrededor del

mundo ha afectado los negocios de muchos;

afortunadamente, Asia se ha mantenido

econmicamente dinmica y Hong Kong est

en el corazn del continente asitico as como

la Repblica Popular de China, la cul an

mantiene su crecimiento econmico

Celebramos nuestra prosperidad

En este sentido, Hong Kong continua siendo

un atractivo centro de negocios para las

corporaciones extranjeras, desde

Latinoamrica hasta Espaa e Italia, donde

existe una tendencia de expandir sus

operaciones a Hong Kong, y tambin a China

Continental a travs de Hong Kong, ya que

este goza un simple y bajo rgimen de

impuestos, libre flujo de informacin y una

situacin geogrfica inmejorable.

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It is encouraging that our Latin Desk hasassisted, at least over 300 overseas

corporations, from Latin America and Spain,to set up their business in Hong Kong and

Mainland China in the last 7 years (Feb2006 now). Our Latin Desk has been

actively participating in various events allthese years, including seminars, exhibitions,

overseas visits and business trips.

Looking ahead, our Latin Desk will continueto put our resources in Latin America, Spain

and Italy. We will work hard and be sturdyand honest on our Latin Journey.

No doubt, I feel very proud and happy to

have a legion of good friends who have beenso supportive to me all these years. Thank

you so much and my gratitude to them fortheir unwavering support in my endeavours

on the Latin American and Europeanmarkets.

With every good wish,

Thomas Wong

Partner, Latin Desk

CWCC Certified Public Accountants

May 2013

Es muy alentador que nuestro Latin Deskhaya asistido cerca de 300 empresas

extranjeras, de Latinoamrica y Espaa, acrear sus negocios en Hong Kong y China

Continental en los ltimos 7 aos (Febrero2006 a la fecha). Hemos estado participando

activamente en varios eventos durante todosestos aos, incluyendo seminarios,

exhibiciones, visitas al extranjero y viajes de

negocios.

Mirando hacia el futuro, nuestro Latin Desk

continuar invirtiendo recursos enLatinamrica, Espaa y Italia con honestidad,

esfuerzo y tenacidad en nuestra TravesaLatina.

Sin ninguna duda, me siento muy orgulloso y

feliz de tener una legin de buenos amigosquienes me han apoyado durante estos aos.

Muchas gracias y agradezco a ellos por suapoyo incondicional en mis esfuerzos en los

mercados de Latinoamrica y Europa.

Mis mejores deseos,

Thomas Wong

Socio, Latin Desk

CWCC Contadores Pblicos Certificados

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CWCC Latin DeskWho We Are and What We DoQuines Somos y Qu Hacemos

CWCC is a professional advisory firmproviding a full range of business services inHong Kong and major cities throughout China.CWCC has earned an international reputationas one of the leading firms in the industrybecause we care for our clients and strive tooffer the highest possible standards of expert,

personalized service.

CWCC has supported for 27 yearsentrepreneurs and investors worldwide in thedesign, implementation and operation of theirbusiness projects with China and in China.

Latin Desk

CWCC maintains a business advisory desk(Latin Desk) to provide premier services forbusinesses and companies expanding intothese markets. Established in February 2006,Latin Desk helps our clients to make the rightdecision, create optimal operation structures,manage the risk, reduce the cultural gap andovercome the barriers of language.

Services in China and Hong Kong

Support-Accounting-Audit-Taxes-Management Payments and Payroll

Advisory-Incorporation, Business Registration andRepresentative Offices-Joint Ventures-Due Diligence-Immigration Services

Consultancy-Investment Analysis and Operation Scenarios-Entrance Models-Protection and Intellectual Property

CWCC es una firma de asesora profesional queproporciona un amplio rango de servicios denegocios en Hong Kong y las principalesciudades de China. CWCC ha ganado unareputacin internacional como una de lasfirmas lderes en la industria porque cuidamosde nuestros clientes y nos esforzamos para

ofrecer los mas altos estndares de serviciopersonalizado.

CWCC ha apoyado por 27 aos a empresarios einversores alrededor del mundo en el diseo,implementacin y operatividad de susproyectos de negocios con China y en China.

Departamento Latino

CWCC mantiene un departamento de asesorade negocios (Latin Desk) para proveer serviciosde primera para compaas que se expandenhacia estos mercados. Establecido en Febrerodel 2006, el Latin Desk ayuda a nuestrosclientes a tomar decisiones correctas, crear unaestructura de operaciones ptima, manejar elriesgo, reducir la brecha cultural y superar lasbarreras del idioma.

Servicios en China y en Hong Kong

Soporte en el Cumplimiento-Contabilidad-Auditora

-Impuestos-Administracin de Nmina y Pagos en Lnea

Asesora-Incorporacin de empresas-Joint Ventures-Due Diligence-Servicios de Inmigracin

Consultora-Anlisis de Inversin y Modelos de Operacin-Modelos de Entrada

-Proteccin de la Propiedad Intelectual4

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Spain

Mexico

Brazil

Colombia

Italy

Chile

Peru

France

Switzerland

Argentina

Top 10 Countries of Origin of Clients

10 Principales Pases de Origen de los Clientes

% of Clients

Service andSupport in: English

Spanish

Portuguese

Italian

French

Basque

Mandarin

Cantonese

Servicio ySoporte en: Ingls

Espaol

Portugus

Italiano

Francs

Euskera

Mandarn

Cantons

Our PartnershipsNuestra Alianzas

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Top 10 HighlightsTop 10 Destacados

Thomas Wong received three businessdelegations sent directly by the Presidentof Argentina, H.E. Madam CristinaFernandez de Kirchner, in Hong Kong on9th May, 2013. They were accompanied bythe Secretary of National Integration, MsMaria del Carmen Alarcon, and Consul-General Gustavo Horacio Luis Fazzari.

The Honorary Ambassador of Colombia inChina, Ms Carmenza Jaramillo, and theConsul General of Colombia in Hong Kong,Mr Jos Antonio Mutis Perdomo, gracedour Hong Kong office on 18th January,2013.

Picture taken with Mr Mario Artaza

(Consul-in-Charge of Chile in Hong Kong),Mr Guillermo Garrido (TradeCommissioner of Chile in Hong Kong) andMr Agustin Chaparro (Trade Officer ofChile in Hong Kong) after lunch inDecember2012.

Our two partners, Rosanna Choi andThomas Wong, traveled to Hangzhou

attending the 6th

China-LAC BusinessSummit on 17th October, 2012.

In September 2012, Thomas Wong wasinvited by the Consul General of Mexico inHong Kong, Ms Alicia Buenrostro, to jointhe Mexican Independence Day Cocktail,where the Financial Secretary, theHonorable John Tsang, was the guest ofhonor.6

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Thomas Wong and the Latin Desk hadthe honor of being interviewed by CNN in

July 2012.

Our Latin Desk team met with the ChiefSecretary of Administration, Mrs CarrieLam, during the Colombian IndependenceDay on 20thJuly, 2012.

Thomas Wong attended the Colombia-

China Business Forum held in Beijing inhonour of the President of Colombia, HisExcellency Juan Manuel Santos, on 10th

May, 2012.

The Vice-Minister of InternationalCommerce of Panama, Mr Jose DomingoArias, and the Commercial Attach ofPanama in Hong Kong, Mr Edwin Garcia,visited our office on 3rd May, 2011.

Our first Latin American staff, MariaArango, joined CWCC and the Latin Deskwas formally established on 6th February,2006!

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Our Global FootprintsNuestra Huella Global

Chile

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Mexico (Mxico)

Brazil (Brasil)Colombia

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Fuzhou Guangdong

Beijing

Spain (Espaa)

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Milestones of Commercial RelationsHitos de Relaciones Comerciales

14 January 2013

Signing of Comprehensive Double TaxationAvoidance Agreement Between Hong Kong andItaly

La Firma del Acuerdo para Evitar la DobleImposicin entre Hong Kong y Italia

7 September 2012

Signing of Bilateral Free Trade AgreementBetween Hong Kong and Chile, Furtheringthe Co-operation of Trade and Investmentbetween the Two Economies

La Firma del Tratado Bilateral de LibreComercio entre Hong Kong y Chile,Fomentando la Cooperacin de Comercio yInversin entre las Dos Economas

19 June 2012

Signing of Double Taxation AvoidanceAgreement Between Hong Kong and Mexico

La Firma del Acuerdo para Evitar la DobleImposicin entre Hong Kong y Mxico

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1 April 2011

Signing of Double Taxation AvoidanceAgreement Between Hong Kong and Spain

La Firma del Acuerdo para Evitar la DobleImposicin entre Hong Kong y Espaa

7 April 2010

Signing of Bilateral Free Trade Agreement BetweenChina and Costa Rica

La Firma del Tratado Bilateral de Libre Comercioentre China y Costa Rica

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8 December 2010

Vale SA (6210.HK), the worlds biggest ironore miner, debuted on the Hong Kong StockExchange.

Vale S.A (6210.HK), el mayor productor demineral de hierro en el mundo, debut en laBolsa de Hong Kong.

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Looking AheadDe Cara al Futuro

We all know that the Latin Americacountries have been forging closer and

stronger ties with China these few years.This is good for both China and Latin

America and of course, also for HongKong.

We stand at this crossroads of history,

the eyes of all people over the world arewatching us, watching Hong Kong and

China. Sometimes its easy to lose sight ofthis truth and trend, to become doubtful

and skeptical what role we, the LatinDesk, can play.

But we know one thing, that we must

always go along with the trend and for

sure, we know what role we can play,

doing our little part through our Latin

Platform, bringing Latin America, Europe,

Hong Kong and China more closer

together, resulting in a better life for

everyone.

Sabemos que en los ltimos aos lospases de Latinoamrica han aumentado

sus esfuerzos para consolidar susrelaciones polticas y comerciales con

China. Esto es bueno tanto para Chinacomo Amrica Latina y, por supuesto,

para Hong Kong.

Nos encontramos en una encrucijada dela historia, los ojos del mundo entero

estn sobre nosotros, observando a HongKong y China. A veces es fcil perder de

vista la realidad e ignorar la tendencia, ypueden aparecer la duda y el escepticismo

del papel que podemos jugar.

Sabemos bien lo qu nos apasiona, y por

supuesto tambin sabemos el rol que

debemos jugar en este momento de la

historia. A travs de nuestro Latin Desk,

continuaremos haciendo lo que nos

apasiona, y esa es nuestra contribucin

para apoyar a empresarios de AmricaLatina y Europa a hacer negocios con

China y Hong Kong, y viceversa.

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Photo AlbumAlbum de Fotos

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Thomas WongLatin Desk PartnerFounding PartnerCWCC Certified Public Accountants

CWCC Headquarters Hong KongSuites 1201 4, 12/F, Tower 2

The Gateway, 25-27 Canton RoadTsim Sha Tsui, Kowloon, Hong KongTel: + 852 2956 0333E-mail: wong.thomas@cwcccpa.comwww.cwcccpa.com

Shenzhen Shanghai Beijing Guangzhou Nanchang

Latin Desk

Your home away

from home