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HAIKOU, CHINA - Media OutReach Newswire - 24 January 2025 - Recently, the Hainan Free Trade Port in southern China has launched various events featuring intangible cultural heritage to celebrate the Spring Festival. Visitors can look forward to abundant sunshine, a rich cultural legacy, verdant rainforests, and warm hospitality over the holiday season. Hainan has planned 300 programs to highlight its intangible cultural heritage. Festival, the social practices of the Chinese people in celebration of traditional New Year, was inscribed on UNESCO's Representative List of the Intangible Cultural Heritage of Humanity last December. This upcoming Spring Festival, Hainan has planned 300 programs to highlight its intangible cultural heritage. In addition to traditional activities such as Hainan Opera spear tricks, Lantern Festival flower exchange, carp lantern spring festival celebration, Qionghai Nanzhong dragon dance, Sanya Phoenix Island Carnival, and display of Li brocade craftsmanship, visitors can taste delicacies such as zhegu tea, coconut rice, and brown sugar rice cakes. With a feast for the eyes and a delight for the palate, a journey to the island promises to be truly unforgettable. In addition, to make tourists' winter experience delightful and tailored to their specific needs, Hainan has designed eight routes (e.g., unwinding at romantic beaches, driving around the island) and 72 packages (e.g., ethnic culture, cuisine plus culture). Since the end of last year, China's 144-hour visa-free transit policy has been extended to 240 hours, and two ports of entry have been added in Hainan, allowing international guests to enter and exit the island via any of its three international airports (Haikou Meilan, Sanya Phoenix, and Qionghai Boao). "Qilou (arcaded buildings), food, surfing... I saw a Hainan that is both traditional and modern. Now that there is a 240-hour visa-free policy, I would love to visit Hainan again to explore further!" said Liu Wenxin, a Singaporean tourist who recently returned from a trip to Hainan. According to the Hainan Department of Tourism, Culture, Radio, TV, and Sports, the three major airports in the province have resumed operations after COVID-19, with 70 international and regional passenger routes connecting Southeast Asia, Northeast Asia, the Middle East, Australia, New Zealand, Europe, Hong Kong, Macao, and beyond. In particular, new routes from Hainan to the United States, the UAE, and New Zealand provide added convenience for overseas visitors. Moreover, Hainan authorities have introduced multiple payment options to enhance the experience for international sightseers. "When I buy anything, I can scan to pay or tap to pay," said American tourist David, who used Alipay to make a quick purchase of a souvenir on Haikou's Qilou Old Street. "From getting off the plane to visiting scenic spots, a mobile phone is all I need. This is incredibly easy!" Hashtag: #HainanThe issuer is solely responsible for the content of this announcement.
SHANGHAI, Jan. 23, 2025 /PRNewswire/ -- Zhangjiajie, one of China's most iconic and breathtaking natural destinations, is joining forces with Trip.com Group to offer international travellers engaging experiences in 2025. The strategic partnership, highlighted during the "Fairyland Zhangjiajie, Enchanting the World" event held in early January, sets the stage for a new chapter in the region's tourism development. This collaboration, co-hosted by the Zhangjiajie Municipal Bureau of Culture, Sports, Tourism, Radio & Television and Trip.com Group, brought together global travel influencers from 12 countries and regions. This includes the UK, South Korea, Japan, Spain, Australia, Canada, Belarus, South Africa, Colombia, Nepal, Ukraine, and Hong Kong, offering them a firsthand look at Zhangjiajie's stunning landscapes, vibrant culture, and authentic experiences. By showcasing these elements to a global audience, Zhangjiajie is positioning itself as an unmissable travel destination for 2025. Exploring Zhangjiajie: A Gateway to New Experiences Through this partnership, Trip.com Group is playing a key role in elevating Zhangjiajie's status as a must-visit destination, promoting the city's unique offerings to an international audience. The collaboration is focused on creating travel packages and innovative experiences that highlight the region's natural wonders and rich cultural heritage. These offerings will cater to a range of travellers—from adventure seekers to culture enthusiasts, and those seeking luxury escapes. During the "Fairyland Zhangjiajie, Enchanting the World" event, guests explored some of Zhangjiajie's most famous landmarks, including the Yuanjiajie Area in Zhangjiajie National Forest Park, which inspired the floating mountains of James Cameron's Avatar. They ventured to Tianzi Mountain, where the mystical mountain mists provided a dreamlike backdrop, and took on the Zhangjiajie Grand Canyon's Glass Bridge, one of the world's highest glass bridges, offering a thrilling, panoramic view of the abyss below. For those with a thirst for adventure, Tianmen Mountain's 999-step Stairway to Heaven and exhilarating zipline rides offer unbeatable adrenaline-filled moments. Meanwhile, cultural performances such as the "Charming Xiangxi" Show showcase the rich traditions of the region, including the Tujia ethnic group's emotional "crying wedding" and the famed Xiangxi Corpse-Driving Ritual, making for unforgettable evening entertainment. The collaboration between Zhangjiajie and Trip.com Group isn't just about sightseeing—it's about crafting memorable, immersive travel experiences. For those looking to fully immerse themselves in the destination's offerings, the partnership introduces standout products such as Trip.com Group's Country Retreats (Zhangjiajie Manxin Joint Branch), offering a stay that blends luxury with nature. This retreat, nestled in the heart of Zhangjiajie's extraordinary landscapes, provides travellers with majestic views of the surrounding peaks and valleys, making it the perfect base to explore the region's wonders. A representative from the Zhangjiajie Municipal Bureau of Culture, Sports, Tourism, Radio & Television noted that this event marked the first major media tour of the year for Zhangjiajie and the largest such event since the implementation of the 240-hour visa-free transit policy. Looking ahead to 2025, Zhangjiajie is positioning itself to take full advantage of China's tourism-boosting strategies. The city's strategy will focus on four key areas: strengthening its brand, innovating marketing strategies, diversifying tourism offerings, and optimising services. Plans include hosting events like the Global Tourism Innovation Week and International Street Dance Week, collaborating with major international hub cities to create premium travel routes, and developing new cultural tourism products. The city also aims to introduce high-end vacation and mountain sports experiences while streamlining customs, payment systems, language services, accommodations, dining, and restroom facilities. According to reports, Zhangjiajie's inbound tourism saw explosive growth in 2024, with visitors from 183 countries and regions — 50 more than the previous peak. The city welcomed over 1.83 million international tourists, marking a 166.3% year-on-year increase. The Zhangjiajie port handled 532,000 inbound and outbound travellers, maintaining its top status among non-provincial capital cities in central and western China. Inbound tourism revenue surged to US$1.008 billion, a remarkable 504.3% increase year-on-year. This growth is expected to continue, supported by strategic initiatives aimed at driving high-quality growth in the sector. Zhangjiajie's collaboration with Trip.com Group signals an exciting future for the destination, and as the region prepares to welcome even more international visitors, it is clear that this partnership will continue to shape the future of tourism in Zhangjiajie—transforming it into a true "fairyland" for travellers from around the globe. About Trip.com Group Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission "to pursue the perfect trip for a better world". Find out more about Trip.com Group here. Follow us on Twitter, Facebook, LinkedIn, and YouTube.
SHANGHAI, Jan. 23, 2025 /PRNewswire/ -- The 72/144-hour visa-free transit policy has boosted "China Business & Travel," allowing nationals from 54 countries to travel through 38 ports in 18 provinces visa-free. Visitors can stay up to 72 or 144 hours, depending on the city of entry. This is an ideal time for global businesses to explore China's growing market and for the foodservice sector to evolve with health-conscious and sustainable options, as well as digital and smart technologies. HOTELEX Shanghai Hospitality Equipment & Foodservice Expo is scheduled to reconvene in 2025, subsequent to the triumphant iteration in 2024. As one of the preeminent global exhibitions for hospitality equipment and foodservice, the expo boasts a legacy spanning over three decades, coupled with extensive experience in curating events within the hospitality sector. The 2024 exposition drew in excess of 283,046 attendees, encompassing a historic high of 15,761 international visitors—a figure representing an 80% surge from the previous year. The event showcased an assembly of over 3,818 preeminent brands and enterprises distributed across 14 exhibition halls. The forthcoming expo will encompass 12 distinct exhibition categories, namely Kitchen Equipment & Supplies, Tableware, Catering Ingredients, Food, Beverage, Coffee & Tea, Ice Cream Equipment & Materials, Baking Equipment & Raw Materials, Alcoholic Drinks, Food & Catering Packaging, Catering Design & Accessories, and Brand Franchising & Chain Store Resources. Throughout the duration of HOTELEX Shanghai, in excess of 40 international competitions and forums, each wielding significant influence within the industry, will be conducted. Included among these are numerous internationally certified premier events, such as the World Coffee Events, the World Bread Competition, and the Catering Industry Summit. Notably, HOTELEX Shanghai International Coffee, Wine & Food Festival will distinguish itself. Showcasing over 300 brands, with more than 25 being international in scope, it combines coffee, wine, and immersive experiences to promote wine culture in a convivial daytime ambiance. Let's look forward to building a thriving future for the industry. Don't miss out HOTELEX Shanghai 2025 on 30th March to 2nd April at NECC (Shanghai) and get your FREE ticket. Please find further information on: hotelex.cn/en/shanghai Contact us Booth Inquiry:Jason JinTel: +86 21 3339 2197Junyan.Jin@imsinoexpo.com Media & Visitor Consulting:Lizzy ChenTel: +86 21 3339 2566Lizzy.chen@imsinoexpo.com
HONG KONG SAR - Media OutReach Newswire - 22 January 2025 - With CPA Australia estimating a fiscal deficit of HK$96.1 billion for 2024-25 and fiscal reserves of HK$638.5 billion, today, we submitted recommendations for the government to consider including in Budget 2025-26, with the major focus areas being tackling the deficit and building Hong Kong's prosperity. (from left to right) Mr Janssen Chan, Co-Chairperson of Taxation Committee and Chairperson of SME Committee of CPA Australia Greater China; Ms Karina Wong, Divisional President 2025 and Deputy Chairperson of Taxation Committee of CPA Australia Greater China; Mr Anthony Lau, Co-Chairperson of Taxation Committee of CPA Australia Greater China; Mr Adam Chiu, Member of Taxation Committee of CPA Australia Greater China Explore strategies to increase revenue and reduce costs CPA Australia emphasises the need to explore innovative strategies for increasing revenue and optimising public expenditure. One suggestion is expanding the application of the user-pays model to a broader range of government services, provided fees remain affordable. Ms Karina Wong, 2025 Greater China Divisional President stated, "Our proposals are designed to help the government navigate fiscal challenges, attract investment and strengthen Hong Kong's global competitiveness. A cornerstone of Hong Kong's success has been its low and simple tax system, and this must be preserved. Therefore, we encourage the government to prioritise raising revenue from non-tax sources, such as modestly raising fees on some government services. Ms Wong highlighted that unlike Hong Kong, other advanced economies generate significant revenue through various levies, fees, and charges. She noted for example that Hong Kong generates only about 1 per cent of the revenue Australia does from visa processing fees and Hong Kong's passport fees are much lower than many jurisdictions. "While we are not suggesting the government raise fees to match those of other advanced economies, there is scope for modest adjustments to better reflect their costs," she said. To support this, CPA Australia recommends the adoption of standardised cost-recovery policy, provided fees are set at affordable rates and increases limited. To drive efficiencies, the cost-recovery fee should be set at the cost of efficient service delivery rather than the actual cost, which could be higher. Additional revenue-generating proposals include raising fines and penalties, such as illegal parking fines and increasing tobacco duty from 65 per cent of the cost of a packet of cigarettes to the World Health Organization (WHO) recommended 75 per cent. We also suggest exploring highly targeted new taxes, such as a digital services tax on large digital providers and a carbon tax on major greenhouse gas emitters. Attract foreign investment and corporations To attract more investment funds and family offices to Hong Kong and encourage them to invest locally, we recommend further enhancements to the tax regimes for investment funds and family offices. Mr Anthony Lau, co-chairperson of CPA Australia's Greater China Taxation Committee suggested "To boost the property market, Hong Kong should include local real estate investments, both residential and non-residential with a minimum investment requirement of HK$50m, as tax exempt assets under unified fund exemption and single family office concession regimes, capped at 30 per cent of total assets under management. Another measure related to supporting the property sector is to give first home buyers a temporary stamp duty reduction of 50 per cent. This could help young Hong Kongers buy their first home, which not only benefits them but the broader economy and society." Mr. Lau also said "The Hong Kong Government can initiate consultations with the Central Government to establish a "Family Office Connect" channel to facilitate cross-border investments by Mainland high-net-worth individuals through family offices established in Hong Kong. The first step in implementing this scheme would be to pilot it in the Greater Bay Area before extending it to the rest of the Mainland. On infrastructure, Mr Lau emphasised the importance of timely delivery of major projects despite fiscal constraints. "To maintain Hong Kong's competitiveness, we suggest the government consider the broader use of public-private partnerships for infrastructure projects. This approach helps to reduce the government's share of costs and risks." Support SMEs and attract talent Small and medium-sized enterprises (SMEs) have faced numerous challenges in recent years. Mr Janssen Chan, co-chairperson of CPA Australia's Taxation Committee for Greater China proposes, "In light of the difficulties faced by SMEs, it is crucial for the government to continue supporting them to foster their growth and success. We suggest increasing the threshold for the half profits tax rate from HK$2 million to HK$3 million, and provide a 100 per cent tax rebate on the 2024/25 final profits tax, capped at HK$10,000." To address talent shortages and support an ageing workforce, Mr Chan proposes incentives for employers hiring older workers. "We recommend offering companies an additional tax deduction on salaries paid to employees aged 60 or above, or a direct wage subsidy to employers hiring eligible older employees." To support the government's "Study in Hong Kong" initiative, we suggest incentivising developers to convert industrial buildings into student accommodation and extending the Immigration Arrangements for Non-local Graduates (IANG) visa duration to four years for graduates pursuing further studies abroad. Improve living standards and encouraging childbirth Acknowledging the need to balance fiscal responsibility with financially supporting residents, Mr Adam Chiu, a member of CPA Australia's Taxation Committee for Greater China said, "Though we need to manage our expectations on the sweeteners for the coming fiscal year, we recommend the government maintain the 100 per cent tax rebate on the 2024/25 final salaries tax, subject to a ceiling of HK$10,000, and salaries tax allowances should be increased at least in line with the inflation." Mr Chiu also noted the potential for Hong Kong to adapt international examples on encouraging childbirth. "Hong Kong's ageing population and low birth rate pose significant long-term consequences for the city. To help address these issues, the government should consider measures that help alleviate the financial burden of raising children, such as a childcare expense allowance with a maximum deduction of HK$60,000 and increase the child allowance to HK$150,000 per child and childcare and early childhood education subsidies," Chiu added. CPA Australia's budget recommendations reflect a comprehensive approach to fostering sustainable economic growth while addressing the pressing challenges facing Hong Kong's economy. Hashtag: #CPAAustraliaHongKonghttps://www.cpaaustralia.com.au/https://www.linkedin.com/school/cpaaustralia/The issuer is solely responsible for the content of this announcement.CPA AustraliaCPA Australia is one of the largest professional accounting bodies in the world, with more than 173,000 members in over 100 countries and regions, including more than 22,500 members in Greater China. CPA Australia is celebrating its 70th anniversary in Hong Kong this year. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on issues affecting the accounting profession and the public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au
Checkbook ensures payment efficiency and security while helping SMEs reduce manual errors, save time, boost operation scalability, and improve cash flow management. SAN ANTONIO, Jan. 21, 2025 /PRNewswire/ -- Frost & Sullivan researched the business-to-business (B2B) digital payment industry and based on its analysis, recognizes Checkbook with the 2025 United States Transformational Innovation Leadership Award. The company leads the B2B digital payment transformation by delivering a solution that challenges traditional payment methods. Its platform offers businesses a more efficient and reliable way to manage payments without the payee's prior enrollment. This one-sided payment system revolutionizes the process by eliminating the need for recipients to provide any details upfront. By enabling payments through email or phone numbers, Checkbook reduces onboarding friction for recipients, accelerating the payment process. The platform also integrates real-time payments into everyday business operations, offering companies efficient and reliable payment solutions. This focus on simplifying the payee experience fills a long-standing gap in the B2B payment space where pre-enrollment is typically required. Furthermore, removing payee enrollment requirements saves significant operational costs, reducing the typical expenses from hundreds of dollars to pennies per payment. Checkbook's platform allows operation across multiple domestic and cross-border payment rails, including digital checks, Automated Clearing House (ACH), Zelle(r), and push to card based real-time payments. With Checkbook, businesses can access a full payment suite without relying on various vendors for different payment types, providing a more efficient and unified system. This cost-effective and streamlined approach balances speed, quality, and security, solidifying the company's position as a market disruptor. Checkbook's platform offers a tailored solution, allowing businesses to send out bulk payments seamlessly through a comma-separated values(.csv) file upload or API integration. This functionality and the flexibility of various disbursement methods enable businesses to manage payout processes efficiently. The company also enhances the recipient's experience by giving them control over how they receive their funds, whether by digital check, ACH transfer, or other methods, ensuring a smoother process and improving overall satisfaction. Ain Sarah Aishah, best practices research analyst at Frost & Sullivan, observed, "Checkbook addresses key industry pain points. Its platform reduces onboarding friction and enables real-time payments, enhancing operational efficiency and agility." Checkbook platform's open API also allows businesses to integrate Checkbook into their existing systems, facilitating automation and payment tracking. This capability is especially significant for industries that rely heavily on freelance workforces, where efficient payment processing directly impacts operational effectiveness. By automating these processes, SMEs can reduce manual errors, save time, improve cash flow management, and significantly boost operations scalability. Checkbook strengthens its digital payment process by implementing rigorous security measures that build trust between businesses and payees. It offers flexibility by allowing users to input their details, giving them control with additional verification at the recipient's end. Visa Direct enables the company to enhance the speed, efficiency, and security of its payment processes. It facilitates the delivery of funds to over three billion eligible cards and bank accounts globally, playing a crucial role in securing real-time transactions for Checkbook's clients. Leveraging Visa's global network, Checkbook provides seamless and secure client payment experiences, meeting industry expectations for payment speed and accessibility. Its strategic partnerships, commitment to compliance, and comprehensive security framework give the company a competitive edge in delivering a holistic payment solution. By continuously enhancing its offerings and expanding into new markets, the company remains a leader in driving the future of digital payments. "Checkbook's innovative solution ensures seamless and secure payment processes, positioning it as a frontrunner in the B2B digital payments space. Its platform's one-sided payment system, streamlined bulk payment solutions, and stringent security measures set it apart in the competitive market. Checkbook's high customer satisfaction rates are a reflection of its dedication to delivering reliable, efficient, and user-friendly payment solutions," added Dewi Rengganis, senior industry analyst at Frost & Sullivan. As Checkbook expands its reach and continues to innovate, it is well-poised to meet the future demands of a global digital economy. For its strong overall performance, Checkbook earns Frost & Sullivan's 2025 United States Transformational Innovation Leadership Award in the B2B digital payment industry. Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables. "We're delighted to receive Frost and Sullivan's 2025 Transformational Innovation Leadership Award. We've been working for years building an innovative and highly efficient digital payments system for businesses and it is truly refreshing to get this seal of approval from a company that is highly respected. We look forward to building and launching many more products in the future." PJ Gupta, CEO, Checkbook. Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry. About Frost & Sullivan For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, megatrends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion. Contact:Ashley ShreveE: ashley.shreve@frost.com About Checkbook: Checkbook enables businesses to send payments at scale. With Checkbook's modern payments platform, customers can send payments with just an email address or phone number. Recipients do not need to create an account, log in, download an app or share sensitive bank account information. This saves time and money over traditional payment methods while providing a better experience for end users and our customers, helping them to make the pivotal transition from physical to digital payments. Today, Checkbook is powering the payments engine of many of the world's largest financial services companies. For more information, contact us to start the discussion on your payment needs Contact:Jana RaghavanP: 6177924557E: jraghavan@checkbook.io
SINGAPORE, Jan. 21, 2025 /PRNewswire/ -- Ascentium, a leading global business services platform headquartered in Singapore and backed by Hillhouse Investment, has announced the acquisition of Virtuzone, the UAE's leading and award-winning provider of company formation solutions, corporate services, and tax consultancy. This strategic move signifies Ascentium's entry into the dynamic Middle East markets, leveraging Virtuzone's expertise and local presence to tap into emerging opportunities in the region. From left to right: Lennard Yong, Founding Management and Group CEO; Chloe Chan, Chief Strategy and Corporate Development Officer; Wendy Wang, Founding Management and Group President from Ascentium, joined by Neil Petch, Chairman and Co-founder; Geoff Rapp, Executive Director and Co-founder; George Hojeige, Group CEO from Virtuzone. The acquisition of Virtuzone—which includes Virtuzone's sister companies, Taxready.ae, Next Generation Equity and MAKTABI—positions Ascentium to establish a robust foothold in the United Arab Emirates (UAE) and extend the potential reach across the Gulf Cooperation Council (GCC) region. With foreign direct investment (FDI) inflows in the UAE soaring to USD 30.6 billion in 2023 and the Middle East's GDP growth projected to reach 3.9% in 2025, this acquisition aligns with Ascentium's growth strategy in strategic markets. Lennard Yong, Founding Management and Group CEO of Ascentium, remarked, "We are pleased to expand in the GCC through the acquisition of Virtuzone, and we welcome them to the Ascentium group. Their expertise and commitment to excellence will bolster our organisation and drive us towards our strategic goals. Virtuzone's strong presence in the Middle East complements our existing capabilities, and together, we look forward to achieving new milestones and delivering exceptional value to our global clientele." Neil Petch, Chairman and Co-founder of Virtuzone, commented, "As global leaders in the corporate services industry, Ascentium embodies the core values that Virtuzone has upheld over the years, empowering businesses and delivering customer-centric solutions, transformative innovation, and unrivalled service excellence. By combining their business acumen with our local market leadership and expertise, I believe this new era will bring significantly greater value to our clients, partners and the communities that we serve." George Hojeige, Group CEO of Virtuzone, shared, "We are excited to join the Ascentium family, where our shared values and vision will drive us towards even greater success. The opportunities ahead for Virtuzone within Ascentium are truly promising, especially in expanding our reach in the Asia-Pacific region. Ascentium's global network and expertise will enrich our service offerings and allow us to deliver tailored solutions to our clients, further solidifying our position as a leader in the corporate solutions sector." Founded by Zhang Lei in 2005 with initial investor capital from the Yale University Endowment, Hillhouse is a leading diversified asset manager with strategies across equities, credit, and real assets. The firm manages capital for global institutions, including non-profit foundations, endowments, and pensions and has a proven track record of completing large complex transactions across more than 30 countries. In line with the acquisition, Ascentium will provide additional resources to Virtuzone, enabling the Dubai-based company to expand its suite of corporate services, strengthen its local presence, and serve as a catalyst for Ascentium's expansion into the Middle East. About Ascentium Ascentium is a leading global business services platform dedicated to helping businesses scale greater heights. Headquartered in Singapore and backed by Hillhouse Investment, we empower extraordinary growth through specialised expertise across secretarial, finance, payroll, HR administration, family office, fund administration, GRC, and cross-border & FDI specialist services. Our team of 1,500 professionals spans 9 markets in the Asia-Pacific region, serving over 20,000 active clients across diverse industries. Through innovative, technology-enabled solutions and collaborative approach, Ascentium drives transformative growth, helping clients navigate complex global environments. For more information, visit: ascentium.com About Virtuzone Virtuzone is the UAE's first and largest company formation specialist and an award-winning corporate service provider. Established in 2009, we have set up the companies of more than 80,000 entrepreneurs from 180 countries. With over 250 staff members speaking 40 languages, we provide end-to-end company formation and corporate services, ranging from trade licensing and visa processing to bank account opening, tax consultancy, compliance, accounting, legal services, and more. We are part of Virtugroup, a Dubai-based holding company that comprises Taxready.ae, an FTA-certified tax and accounting firm; Next Generation Equity, which offers citizenship and residency-by-investment programmes; and MAKTABI, a world-class business centre located in the heart of Dubai. About Hillhouse Hillhouse Investment is a long-term investor focused on partnering with quality business leaders to help them grow their organizations globally. For almost 20 years, Hillhouse has worked alongside traditional businesses that have redefined their industries. Our goal is to establish alignment and build sustainable, forward-thinking companies that create lasting value for all stakeholders. Hillhouse is a full life-cycle private equity firm, investing for the long term across opportunities in the business services, healthcare, consumer, and industrials sectors. Operating an integrated platform spanning private equity, credit, real assets and public equity, the firm manages capital on behalf of global institutions such as non-profit foundations, endowments, sovereign wealth funds, and pensions. Media Contact Nancy So – Associate Director, Group Marketing, Ascentium nancy.so@ascentium.com
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