在中企投资海外，特别是通过自建公司形式投资海外后，直接面临目标国税务合规要求及境外税务管理 的多重税务考量。因此，了解目标国税务环境、做好海外运营税务筹划及税务管理将成为中企海外运营 税务风险规避及税务效率提升的重要环节。 沙特阿拉伯税收制度复杂，并有其独特之处，概括介绍如下。 提前了解该国税制及税务合规要求 在沙特阿拉伯设立公司并从事经营活动可能涉及的主要税种包括： 根据企业具体经营活动等情况，还可能适用其他税种。 双轨并行的独特税务制度 沙特税务制度与中国税务制度存在很大差异。其中，不同于中国的企业所得税制度，沙特公司适用企业 所得税或/和天课税。这取决于公司投资者的身份。通常来说，非海湾投资者所投资实体或所持有份额 适用企业所得税；最终由海湾个人所投资实体或所持有份额适用天课税。 公司在投资前需基于自身实际情况，了解可能适用的税收政策。这一点在设立合资企业时尤其需要关 注，如合资企业同时包括适用企业所得税及天课税的持股部分，则该税收制度将影响合资企业的税务及 利润安排，为投资双方所协商的重要考量点之一。 沙特税务优惠 人员派驻及常设机构风险 中企投资沙特的很多项目集中于工业制造、能源发电等领域。在境外实 ...

Group 1 - Over 90% of surveyed multinational companies plan to invest in digitalization, with 52% prioritizing strengthening data analytics capabilities, 46% focusing on upgrading IT infrastructure, and 36% actively investing in emerging technologies [1] - 58% of multinational companies are already using artificial intelligence tools in their business operations, highlighting the growing integration of AI in corporate strategies [1] - Cybersecurity has become a strategic driver for digital transformation in China, with companies needing to bridge the gap between domestic and international cybersecurity standards to maintain trust and resilience [1] Group 2 - Structural innovation and upgrades in the Chinese market are prompting multinational companies to reassess their strategies in China, shifting focus from mere expansion to profitability through localized innovation and digital investments [2] - 94% of companies continue to invest in the Chinese market, with 75% of surveyed multinational companies planning to maintain or increase their investments in mainland China by 2025 [2] - Recent months have seen a significant increase in M&A activities by multinational companies in China, driven by strategies such as acquiring companies in electric vehicles, medical technology, and advanced materials to tap into global business potential [2]

受惠于8只超大型新股上市，当中4只项目位列2025年全球十大新股之列，香港交易所将以2025年新股融资总额位居榜首。凭借一家医疗用品公司上市项 目，使其成为2025年全球规模最大的IPO，将使纳斯达克取得第二位。印度国家证券交易所则在众多证券交易所中新上市公司数量最多，并预计以此排名 第三。纽约证券交易所则凭借一家液化天然气出口商的上市项目排名第四，该新股为今年全球第十大IPO。上海证券交易所(上交所)排名第五，而深圳证 券交易所(深交所)则排名第八。 德勤中国资本市场服务部今天发布《中国内地及香港IPO市场2025年回顾与2026年前景展望》。 来源：视觉中国 报告显示，尽管市场受到各种因素的影响，但预计2025年全球十大新股融资总额将较2024年略有改善。 德勤中国资本市场服务部华东区上市业务合伙人胡科表示："我们很高兴地看到，2025年A股新股市场表现更胜2024年，以新股融资额计，上海证券交易 所仍将保持全球第五大证券交易所的排名。在监管环境趋于严格的状况下，市场前五大新股以及大多数板块的平均融资规模均有所提升，足以证明市场有 充足的优质新股公司供应，而市场环境稳健。" 胡科补充道："持续推进的改革为 ...

Core Insights - PwC's reports indicate an optimistic outlook for China's consumer market, driven by the expansion of the middle and high-income groups [1] - The reports highlight the need for retailers to enhance category management and develop private labels to drive growth amidst challenges [1] Group 1: Market Dynamics - The growth of the middle and high-income population is expected to stimulate demand for high-quality and differentiated products and services [2] - By 2024, households with disposable income exceeding $25,000 in China are projected to surge to 64 million, nearly doubling by 2029 [2] - China ranks second globally, with 26.8 million households (equivalent to 77 million people) expected to have an annual income exceeding $35,000 in 2024, presenting significant opportunities for high-end and luxury brands [2] Group 2: Retail Sector Challenges - Retailers are facing weak consumer sentiment and intense price competition, necessitating a shift from traditional operations to omnichannel strategies [1] - Many retailers are seeking to reduce reliance on shelf fees, which are charges levied on brands for specific store placements [1] - The retail industry must accelerate category management and private label development to drive growth in the Chinese market [1] Group 3: Key Influencing Factors - Rapid expansion of international and domestic leading supermarkets reflects consumer confidence in the Chinese market [2] - Chinese consumers are surpassing global counterparts in their acceptance of health, sustainability, and international products, creating opportunities for new categories and products [2] - The financial market anticipates a strengthening of the RMB by 2026, which, along with a stabilized real estate market, is expected to boost consumer confidence and stimulate local consumption [2] Group 4: Policy and Investment Opportunities - China is actively promoting domestic demand and attracting foreign direct investment through various new policies [2] - Recent initiatives include tax incentives for reinvestment by foreign investors, the upcoming full closure operation of Hainan Free Trade Port, and tax benefits in the Greater Bay Area [2] - Companies are advised to strengthen tax internal controls to navigate challenges posed by new policies [2]

美联储主席鲍威尔近日表示，美国劳动力市场或许比官方数据呈现的更为脆弱。然而，毕马威首席经济 学家戴安.斯旺克却有不同看法，她觉得美联储可能做出了错误判断，这会对其抗通胀所建立的公信力 造成损害。 斯旺克分析认为，要是就业市场疲软是由人工智能普及、移民减少等结构性因素导致的，那么降息不仅 起不到作用，反而可能使通胀加剧。她着重指出，货币政策没办法解决劳动力供给问题，降息虽能刺激 需求，但无法创造工人，也不能改变企业的决策。 摘要今日周四(12月11日)亚盘时段，纸黄金目前交投于965元附近，截至发稿，纸黄金暂报960.54元/ 克，涨幅0.85%，最高触及965.00元/克，最低下探950.38元/克。目前来看，纸黄金短线偏向看涨走势。 今日周四(12月11日)亚盘时段，纸黄金目前交投于965元附近，截至发稿，纸黄金暂报960.54元/克，涨 幅0.85%，最高触及965.00元/克，最低下探950.38元/克。目前来看，纸黄金短线偏向看涨走势。 【要闻速递】 地缘政治的不确定性以及美国经济数据的疲软，为黄金提供了避险支撑。俄乌冲突持续，法德英领导人 与泽连斯基会晤并承诺增加军事援助，中东局势也再度紧张。经济方 ...

"安永企业家奖"2025评选活动于12月5日成功举办。来自安永企业家奖过往获奖者、机构代表及商业领袖齐聚一堂，共同祝贺本年度十二位获奖企业家， 并见证了"安永企业家奖"2025大奖的诞生。 安永企业家奖 2025 中国内地 大奖获得者 安永企业家奖 2025 中国香港/澳门 大奖获得者 "穿越时代变革，'安永企业家奖'作为一个弘扬企业家精神、挖掘创新思路、促进交流合作的标杆平台，始终秉持创立初心，着眼于国家发展战略，凝聚 创新合力，推动新经济发展。" "我与'安永企业家奖'的缘分由来已久，从中国内地大奖得主到'安永全球企业家奖'得主，每一次角色的转换，都会让我对企业家精神有新的认识和感触。 安永二十年里一直用心在做这个奖项，再次向安永致谢，也向所有懂专业、愿奉献，有抱负的企业家们致敬。" "我为过去二十年参与这一评奖的各位评委同仁们骄傲，大家秉持对企业家精神的推崇和敬意，挖掘出232位获奖企业家，让更多的企业家和创业者们看到 信心与榜样的光芒。" "我们很荣幸能够与安永一同见证中国企业家敢于梦想、勇于创新、坚韧不拔的精神，更是我们对企业家精神的致敬，以及星展私人银行愿与中国企业家 携手前行的坚定践行。" 推荐 ...

中证报中证网讯（记者 倪铭娅）中国证券报记者获悉，12月2日，毕马威在山东青岛举办第五届"消费 50"榜单发布及颁奖典礼，现场揭晓毕马威第五届"消费50"榜单并发布《青岛市南区消费观察报告》。 毕马威中国主席邹俊在致辞时表示，当前，我国正处在消费结构向服务化、品质化加速升级的关键阶 段。一方面，随着经济全球化深入推进，国内消费市场的边界不断拓展，国内外品牌竞争与合作日益频 繁；另一方面，科技飞速发展，人工智能、大数据、物联网等技术在消费领域广泛应用，正重塑消费场 景，改变消费者行为。 "通过毕马威'消费50'榜单评选，能够清晰看到参选企业在瞬息万变的市场环境中积极进取、拥抱变 化、持续创新，为市场与行业注入了更多新风尚、新气象。"邹俊说。 毕马威中国北方区首席合伙人、北方区零售及消费品行业主管合伙人吴旭初介绍，本届榜单聚焦服务消 费、文化消费、黄金饰品三大特色赛道，围绕"品牌价值与社会责任、用户体验与服务生态、智能化与 创新能力"等八大维度，对企业进行全景扫描与深度评估，旨在发掘兼具运营效率提升与消费者体验质 变、以精益供应链应对需求多样化、通过创新设计和营销与用户深度共鸣的优质企业。 "十五五"规划建议提出 ...

Core Viewpoint - Deloitte estimates that Hong Kong's fiscal budget for 2025/26 will be approximately balanced with a surplus of HKD 15.6 billion, and the fiscal reserves are expected to reach around HKD 669.9 billion by March 31, 2026, reflecting a year-on-year increase of 2.4% from HKD 654.3 billion last year [1] Group 1: Fiscal Proposals - Deloitte suggests developing the Northern Metropolis as a new growth engine for Hong Kong, proposing investment tax credits and subsidies for businesses investing in the area, as well as a 150% special tax deduction for interest expenses and professional fees related to bonds issued for supporting the development [1] - A dedicated tax framework is recommended for the Hong Kong-Shenzhen Innovation and Technology Cooperation Zone, extending tax incentives to activities in the Shenzhen area [1] Group 2: Tax Optimization and Dual Listing - Recommendations include optimizing tax policies to promote dual listings and capital investment, such as providing a "safe harbor" for companies dual-listed in Hong Kong and reducing the stamp duty rate on transactions involving dual-listed company shares by 0.05% [2] - The proposal to change the interest expense deduction condition from "actual taxation" to "applicable tax rate" standard for Corporate Treasury Centers (CTC) and provide unilateral tax credits for CTC income [2] Group 3: Financial Services and Wealth Management - The expectation to maintain Hong Kong's competitive advantage as a regional asset and wealth management center includes offering preferential tax regimes for eligible fund managers, reducing the profits tax rate to 8.25% [2] - Additional recommendations include tax incentives for licensed digital asset market participants and single-family offices, as well as enhancing the charitable ecosystem [2]

Core Insights - The China International Import Expo (CIIE) showcases China's commitment to open cooperation and presents vast opportunities for global businesses [1][16] - The "Big Four" accounting firms (Deloitte, EY, PwC, KPMG) have participated in all eight editions of the CIIE, witnessing its growth and evolution [1][3] Group 1: Participation and Contributions of the "Big Four" - Deloitte has showcased innovative solutions at the CIIE, focusing on digital transformation, sustainability, and high-quality development [3][10] - EY has emphasized its commitment to meeting enterprise needs through professional services, adapting its exhibition themes to align with China's economic strategies [5][10] - PwC has highlighted its role in facilitating high-level openness and collaboration through strategic partnerships formed at the CIIE [6][12] - KPMG has utilized its international and domestic resources to support global market participants in investing in China and exporting from China [6][14] Group 2: Themes and Innovations Presented - Deloitte's theme this year, "Together We Go Far," focuses on AI-driven digital transformation and sustainable development [10] - EY launched its upgraded AI-powered consulting product, aiming to assist enterprises in achieving green transformation and global development [10][12] - PwC's exhibition included interactive experiences and showcased AI applications in professional services, emphasizing the importance of technology in industry upgrades [11][12] - KPMG presented multiple industry research reports and hosted discussions on market trends, demonstrating its insights into new quality productivity [14] Group 3: Strategic Importance of CIIE - The CIIE serves as a platform for transforming market opportunities into concrete collaborations and innovations, providing certainty in uncertain times [16][18] - The event has evolved from a mere product showcase to a hub for cutting-edge technology and future industry directions, reflecting China's shift towards systemic advantages in innovation and openness [16] - The "Big Four" firms view the CIIE as a strategic resonance platform, enhancing trust with existing clients and establishing connections with new partners [16][18]

Core Insights - The event highlighted the integration of "digital intelligence" and "green" initiatives in driving ESG practices among Chinese companies, marking a shift from conceptual advocacy to systematic and intelligent implementation [1][2] - The awards recognized innovative practices in ESG and AI, showcasing the role of technology in transforming sustainable development into quantifiable and operational value systems [2][3] Group 1: Event Overview - The Fourth Annual Forum for Sustainable Development Officers of Listed Companies was held in Beijing, focusing on the theme of digital intelligence as a driving force for innovation [1] - The "Ernst & Young Sustainable Development Annual Best Award 2025" winners were announced, reflecting the forefront exploration of Chinese enterprises in the integration of ESG and AI [1] Group 2: Key Statements - The Chairman of Ernst & Young China emphasized that 2023 is a pivotal year for global sustainable development, coinciding with the 10th anniversary of the Paris Agreement and the upcoming 30th Conference of the Parties to the UN Climate Change Framework Convention [1] - The concept of "green mountains and clear waters are as valuable as mountains of gold and silver" was highlighted as it marks its 20th anniversary, reinforcing the importance of sustainable development [1] Group 3: Technological Integration - Companies are encouraged to leverage digital technologies to activate green vitality and find optimal solutions for achieving carbon neutrality [2] - The integration of AI into ESG practices is seen as a key technological force that can elevate corporate ESG capabilities and make sustainable development more tangible [2] Group 4: Award Criteria - A special award for "Technological Innovation Empowering ESG Development" was established to focus on the practical application of innovative methods like AI in green development [3] - The evaluation framework for the awards includes nine dimensions, emphasizing the complexity of corporate ESG practices and the importance of technological foresight and scalability [3]