Political Change and Trade Agreements Encourage

CHINA EDITION
The Australian Chamber of Commerce Hong Kong and Macau 香港及澳門澳洲商會
ISSUE 178, 2015
Political Change and
Trade Agreements Encourage
China-Australian
Business Opportunities
P.10
Coverage
ACCESS China Forum 2015
P.12
Feature Interview
Veteran Statesman Sees Pragmatism as
the New Normal in Australia-China Relations
Industry Insights
The 5 main Reasons to
Consider Hong Kong when
Investing in China
P.17
www.austcham.com.hk
Contents
austcham news issue 178
03 Chamber Chatter
05
Events Update
22 Jan - The AustCham National Australia Bank Australia Day Lunch
06
Cover Story
- Political Change and Trade Agreements Encourage
China-Australian Business Opportunities
- 2015 ACCESS China Forum: On the Scene
12
Feature Interview
Veteran Statesman Sees Pragmatism as the New Normal
in Australia-China Relations
15 Australia Focus
Pragmatic China Policy a Wise Move for Australia
17 Industry Insights
The 5 main Reasons to Consider Hong Kong when Investing in China
18
Commentary
19 AustCham Members in Macau
20 Chamber's Voice
AustCham Advisory Council
21 Committees in Action
22 AustCham ANZ Mentor Program
A Chat with mentors and protégés
25 On The Scene
Follow us on: Facebook
Twitter LinkedIn
CONNEC T • ENGAGE • REPRESENT
The Australian Chamber of Commerce in Hong
Kong and Macau has more than 1,500 members
from some 500 companies doing business here.
It’s the largest Australian business grouping
outside the country and the second largest of 28
International Chambers of Commerce in Hong
Kong. The AustCham mission is: To promote
& represent Australian business & values while
enabling members to connect, engage & grow
bilateral relationships.
Disclaimer:
23 Membership eCard Benefit
24
New Members
Editorial Committee:
Drew Waters
Karen Wu
Claire Reaburn
Advertising:
Karen Wu
Email: [email protected]
16
Spotlight
Published By:
The Australian Chamber of Commerce
in Hong Kong and Macau
Room 301-302, 3/F, Lucky Building
39 Wellington Street, Central, Hong Kong
Tel: +852 2522 5054
Email: [email protected]
austcham news
Online version
The views expressed in this publication are not necessarily
those of the Australian Chamber of Commerce in Hong
Kong and Macau, its members or officers. The Australian
Chamber of Commerce in Hong Kong and Macau
takes no responsibility for the contents of any article or
advertisement, makes no representation as to its accuracy
or completeness, and expressly disclaims and liability
for any loss however arising from or in reliance upon the
whole or any part of this publication.
Copyright © 2015
The Australian Chamber of Commerce
in Hong Kong and Macau
2 • austcham news | issue 178
Chamber Chatter
Chairman's Column
China is the focus of this month’s AustCham News.
On November 20, China was also in focus when AustCham’s fourth annual Access China Forum was held
with leaders from the business, professional, and academic communities presenting on various China issues.
Access China is designed to help participants to frame their thinking on the relationship between Australia
and China in new and interesting ways, and to help stimulate new ideas on how to do business in China.
The Chamber has, as in previous years, received positive feedback on the calibre of speakers and content
following this year’s Forum. Professor, the Honourable, Bob Carr, Director of the Australia-China Relations
Institute (ACRI) and Foreign Minister of Australia (2012-2013) delivered an interesting and entertaining
lunchtime address.
CLP was corporate sponsor of the Access China Forum, and KPMG and BDO Limited were key supporters.
Speakers from organisations including King & Wood Mallesons, CITIC CLSA Securities, KPMG, Baker &
McKenzie, CLP, NAB, Telstra, and the Australian Embassy, Beijing, made the event a great success. Without
the generous support of these organisations the Forum would not be possible and we are grateful to them
for supporting the Forum financially and for providing speakers and content. In other news, AustCham’s Advisory Council (AC) was officially launched on December 7. Chaired by
Australia’s Consul-General to Hong Kong and Macau, Mr. Paul Tighe, the AC comprises a small number
of senior individuals who have an interest in assisting AustCham, and in promoting closer business ties
between Greater China and Australia. The AC will advise AustCham on strategy and give guidance to
AustCham’s Board, Committee’s, and Management on various issues of strategic importance including on a
deepening of the Chamber’s business engagement in Hong Kong, Macau, and Mainland China, particularly
in the light of the China-Australia Free Trade Agreement.
I hope that you will connect with the Chamber this month in some way, and that you will continue to share
your views on how best the Chamber can serve you.
Richard Petty
[email protected]
issue 178 | austcham news
•3
Chamber Chatter
Across My Desk
Happy 2016 everyone!
I hope the Christmas festivities lived up to
all of your expectations and celebrations for
the New Year were enthusiastic. I’m sure a
lot of you were travelling over this period,
so welcome back to another year in Hong
Kong and I look forward to catching up
with you all.
We had a bit of a rush up to the Christmas
break and our annual ACCESS China Forum at the end of November
was a great success. We have been so fortunate to attract a terrific
calibre of speaker to ACCESS over the years and this was no
exception. I would like to thank our keynote speaker Professor the
Honourable Bob Carr, and panellists David Woods from Australian
Embassy in Beijing, Rueybin Kao from Telstra International China,
Alan Oster from National Australia Bank, David Simmonds from
CLP, Mini vandePol from Baker & McKenzie, Honson To from KPMG
China, Stuart Fuller and Yi Zhang from King & Wood Mallesons, and
Andrew Low from CITIC CLSA Securities.
underprivileged children of The Hub. Thank you to our sponsors
Cheung Kong Infrastructure and The Pulse for their support, and for
your overwhelming generosity in bringing these gifts.
While still in the vein of the season, I would also like to thank the
terrific staff at the Chamber for their dedication and hard work
throughout 2015, the great support from our Board of Directors,
Consul-General Paul Tighe and the teams from Austrade and
DFAaT. It is with sadness, then, that I announce that Caness Chan
will be moving on from the Chamber to seek more challenges
elsewhere. Most of you will have dealt with Caness over the past
few years, especially if you have been involved with our committees,
and will agree with me that her dedication, creativity, and cheerful
application have been the success of many initiatives. While sorry to
see her go, I wish Caness all the very best in her future career.
Welcome to a new year, everyone, (and a new web page, if you
haven’t already noticed).
Drew Waters,
Chief Executive
I am most grateful to our event sponsors, CLP Group, and our
supporters KPMG and BDO Limited.
Thank you all.
Just when we thought the dust had settled on the 2015 AustraliaChina Business Awards, nominations for next year have opened at
the end of December. This year, the ACBA will be held in Shanghai
to correspond with Australia week in China, with a large number of
Australian and Chinese businesses represented in the delegation.
Please consider nominating for these prestigious awards, whether
you were successful last year, or if you have something great to say
about your business this year.
Our Christmas Mix at Six, at the Hong Kong Club again, was a
very warm and sociable occasion with many of those attending
bringing a small gift to place under the tree, to be distributed to the
Community
Corner
T
o celebrate the seasons
of giving, more than 80
Christmas gifts were collected
at AustCham Christmas Mix.
The gifts placed under The
Pulse Christmas Tree are for
underprivileged children
from 6-12 years old at
The Hub Hong Kong.
AustCham is a non-profit organisation and
provides this space free of charge to other,
selected non-profits or charities.
4 • austcham news | issue 178
Seasons of Giving
O
nly a fraction of Australian businesswomen export, so I
enjoyed the recent opportunity to open the ‘Women in
Global Business’ forum and to encourage women to be
brave and bold in venturing into international markets.
The focus of the forum was on trade with India and China, and it
could not have come at a better time, as just a week earlier the
China Australia Free Trade Agreement passed the Australian
Parliament.
China is Australia’s number one trading partner.
And as its economy and middle class continues to grow, the
opportunities for Australia are limited only to our imagination.
Opportunities in products and services like agriculture, education,
tourism, healthcare, aged care and financial and professional advice,
which will see stronger growth for our economy, better living
standards for families and more and better jobs for Australian
workers.
The new China Australia Free Trade Agreement will open up
these opportunities, which is why the Federal Opposition supported
it through Parliament.
A Letter from Canberra
And busy with events including the Prime
Minister’s drinks, the Speaker’s dinner and
carols in the Marble Foyer.
It’s a time for collegiality and reflection on
the achievements of the last 12 months.
And it’s a time to thank our tireless teams
and volunteers who go above and beyond
to deliver for the people of our electorates. As you draw towards the end of your working year, I’m sure many of
you are preparing to travel home for Christmas.
I wish you and your family a happy and safe
Christmas and New Year and a relaxing holiday
season. I look forward to staying in touch next year.
Gai Brodtmann MP,
Federal Member for Canberra and
Co-Convenor of Parliamentary
Hong Kong Friendship Group
As I write, we are about to embark on the final two sitting weeks
before Parliament rises for 2015. The last parliamentary fortnight is always busy.
Busy with late night sittings and votes to get legislation through
before the summer break.
EVENTS UPDATE
JANUARY AT A GLANCE…
Thur, 14 Jan, 6:30pm – 8:30pm
AustCham ANZ 2015 Mentor Programme:
Turn the Tables: Protégé Presentations
Compass Office, 20/F, Infinitus Plaza
199 Des Voeux Road Central, Sheung Wan
Tue, 19 Jan, 6:00pm – 9:00pm
Mix at Six
The Lounge, Upper Lobby, Renaissance Harbour View Hotel Hong
Kong, 1 Harbour Road, Wan Chai
Wed, 27 Jan, 12:15pm – 2:00pm
2016 Joint Business Community Luncheon with
The Honourable C Y Leung
Grand Hall, Hong Kong Convention and Exhibition Centre
Thur, 28 Jan, 12:30pm – 2:00pm
The Year Ahead Lunch:
Regulatory Trends and their impact in 2016
Boardroom 6, M/F, Renaissance Harbour View Hotel Hong Kong, 1
Harbour Road, Wanchai
MARCH AT A GLANCE…
Fri, 22 Jan, 12:00nn – 2:30pm
The AustCham National Australia Bank Australia Day Lunch
Ballroom, 5/F, Island Shangri-La Hong Kong, Pacific Place
Supreme Court Road
Wed, 16 Mar, 12:15pm – 2:00pm
Joint Business Community Luncheon with Financial Secretary
The Honourable John Tsang
Convention Hall, Hong Kong Convention and Exhibition Centre
issue 178 | austcham news
•5
2015
Cover
ACCESS
Story China Forum
Political Change and Trade Agreements
Encourage China-Australian
Business Opportunities
- Ingrid Piper
I
AustCham Hong Kong and Macau’s fourth prestigious thoughtleadership event was sponsored by CLP Holdings and moderated by
renowned journalist Sarah Clarke assisted by AustCham Chairman,
Professor Richard Petty.
While China’s 13th five year plan provides a road map for economic
reform and growth, National Australia Bank’s Chief Economist Alan
Oster was surprisingly positive about Australia’s own economic future
given the downturn in the mining sector.
While last year’s forum focused on the Australia-China Free Trade
Agreement (FTA), this event discussed China’s economic slowdown as
the “new normal”; changes to foreign investment and national security
laws; the environment; ethics and corruption; Belt and Road initiatives
to FTA opportunities.
ndustry leaders at the 2015 ACCESS China Forum in Hong Kong
held on November 20, were overwhelmingly optimistic about SinoAustralian business opportunities despite China’s slowing economy,
reforms affecting foreign investment and national security laws and
the ongoing maritime dispute in the South China Sea.
“There is no chance we (Australia) will go into recession,” he said,
predicting future LNG production will add 2 per cent to the nation’s GDP.
While the impact of China’s economic reforms were high on the
agenda, in his keynote address to forum delegates, Professor the
Honourable Bob Carr, Foreign Minister of Australia (2012-2013) and
current director of the Australia-China Relations Institute in Sydney
focused on international relations related to disputed borders in the
South China Sea. Carr believes Australia and Australian business, like
those of the UK, will continue to take a pragmatic approach to this
issue, in recognition of China’s economic power.
6 • austcham news | issue 178
Breakfast dialogue: China’s new Foreign Investment Laws:
the changes, and the opportunities that may stem from it
Facing New Challenges
Guest speakers at the opening session included Yi Zhang, Co-Chief
Executive (Hong Kong) King & Wood Mallesons and Andrew Low,
Head of International Corporate Finance and Capital Markets, CITIC
CLSA Securities.
In response to Low’s question about how Australian companies looking
to invest in China would be affected by new foreign investment laws,
Zhang warned business to be wary of changes.
Our clients welcome the new draft laws
because they give certainty and the Free Trade
Agreement is also welcomed …
Yi Zhang
Co-Chief Executive (Hong Kong)
King & Wood Mallesons
“I guess you need to find a good lawyer! Under the new draft laws,
finance for example, could be deemed a foreign investment. There are
a lot of nuances and you need to watch out but our clients welcome
the new draft laws because they give certainty and in general the FTA
is also welcomed,” Zhang said.
Leading the panel discussion: The political climate in China and how
it may be affecting business, Stuart Fuller, Global Managing Partner,
King & Wood Mallesons reflected that while change and reform
challenged western governments, reform Chinese style with 1.4 billion
people, is a constant process of change.
“The ‘China Dream’ sees China’s role on the world stage changing, as
overseas travel by President Xi Jinping indicates. Next year, China will
host the 11th G20 summit in Hangzhou. And the rest of the world is
also travelling to China, with 170 national delegations in the past year.
“China’s great challenges include economic reform, growth,
environmental degradation, corruption, internal conflicts and quality,
not quantity of life,” Fuller said.
Honson To, Chairman, KPMG China, Mini vandePol, Global Head of
Compliance & Investigations Practice, Baker & McKenzie and David
Simmonds, Group General Counsel & Chief Administrative Officer,
CLP Group led Panel session 1.
Bright prospects
Honson To is positive about political change in China.
“The Chinese government and the CPC are very aware its legacy is to
provide for the welfare of 1.4 billion citizens. What we’re seeing now
is creating anxiety but I see it as a positive. The future is actually very
bright,” To said.
Environmentally as well as politically, David Simmonds says China is
under pressure to clean up its environment.
“There is a very strong political imperative for China to clean up air
quality in its major cities. US statistics showed air quality in some
cities was 12-13 times that recorded in a busy smoking room in an
international airport.”
Panel Session 1: The political climate in China and
how it may be affecting businesses
He says much is already being done, citing the closure of older more
polluting power stations, investment in electric vehicles and tightening
pollution controls on thermal coal.
“These issues take time to resolve but the fruits of these resolves will
be seen in the years ahead,” he says.
issue 178 | austcham news
•7
2015
Cover
ACCESS
Story China Forum
Professor the Honourable
Bob Carr, Foreign Minister of
Australia (2012-2013), current
Director of the AustraliaChina Relations Institute
David Simmonds,
Group General Counsel &
Chief Administrative Officer,
CLP Group
Yi Zhang,
Co-Chief Executive
(Hong Kong),
King & Wood Mallesons
Ethics and accountability
Mini vandePol, Global Head of Compliance & Investigations Practice,
Baker & McKenzie urged Australian companies to act responsibly
in matters of ethics and accountability, praising CBA for recently
highlighting the benefits of using ethics as a competitive advantage
when doing business.
When you look at China this anti-corruption
focus is the new ‘norm’, it’s not going to go
away…
Mini vandePol
Global Head of Compliance &
Investigations Practice,
Baker & McKenzie, Hong Kong
Alan Oster,
Chief Economist,
National Australia Bank
Honson To,
Chairman,
KPMG China
suggests ethics and accountability are part of good international
business practice.
“We’ve seen Australian companies being encouraged to use third
parties. That can be good if you use good advice but sometimes they use
companies that engage in practices, that if Australian companies asked
more questions about, they would be very uncomfortable and then
they are surprised when they are found to have engaged in conduct
that’s going to bring them under the scrutiny of regulators,” she said.
Belt and Road opportunities
Moving on to opportunities for Australian enterprises to be involved
in China’s Belt and Road initiative, To says the Ministry of Commerce
has never defined which countries are included.
“At KPMG we’ve counted around 70. Basically this will be President Xi’s
brand of foreign diplomacy for the next 10 years. If Australian companies
“When you look at China, this anti-corruption focus is the new norm,
it’s not going to go away, it’s not just something that’s a flash in the
pan,” vandePol said.
“Companies need to adapt to the new norm and demonstrate they
have a commitment to ethics which I think will stand them in good
stead in terms of being able to do business, to enter into joint ventures
in China and to create strategic alliances with state owned enterprises.
It’s just as important as pricing, expertise and skills.
Given many Australian companies find negotiating their way into the
Chinese market too hard without the help of a third party, vandePol
8 • austcham news | issue 178
Panel Session 2: The state of the China economy and the
opportunities that may arise to foreign businesses
Andrew Low,
Head of International
Corporate Finance and
Capital Markets,
CITIC CLSA Securities
Mini vandePol,
Global Head of the Compliance
& Investigations Practice,
Baker & McKenzie
Rueybin Kao,
CEO Greater China,
Telstra International Group
have value to add, such as in finance and manufacturing then yes, there
are many ways Australian companies can benefit from it.”
The New ‘Norm’ – messy, manageable and stable
Stuart Fuller defined the ongoing South China Sea dispute as “messy
but manageable” a theme supported in Bob Carr’s keynote address.
“China and Australian business to business is the most positive ever,
so you need to disconnect from the South China Sea and focus on
the positive. It won’t surprise you that I am incredibly bullish about
the future!”
Fuller sees opportunities for Australian business in pension care,
tourism and finance sectors while Honson To believes innovative
businesses that focus on food safety, healthcare and agriculture will
give Australian entrepreneurs opportunities for growth in the next
5-10 years.
There is no chance we (Australia) will go into
recession…
Alan Oster
Chief Economist
National Australia Bank
Opening the forum’s final session, Alan Oster, Chief Economist,
National Australia Bank predicted China’s economy was headed for
a slow landing.
“I’m reasonably optimistic for growth of 6.5% for a couple of years. It
will be a lot more challenging at the back end of five years to get 6.5%.
Stuart Fuller,
Global Managing Partner,
King & Wood Mallesons
David Woods,
Minister-Counsellor (Treasury),
Australian Embassy in Beijing
China will need to focus on productivity and doing things smarter.
If things get bad in China then its going to have a big impact on
Australia,” Oster said.
Fellow panelist, Minister-Counsellor (Treasury), Australian Embassy,
Beijing David Woods believes it will become increasingly hard for
China to sustain growth at current levels but with such a large
economy it will continue to grow.
Fellow panelist Rueybin Kao, CEO Greater China, Telstra International
Group said China’s size creates future commercial opportunities.
“China is very large and the opportunities are still huge, so it’s a very
good foundation for businesses in the telecom and IT areas,” Kao said.
Taking advantage of opportunities
According to Oster, Australia’s current economic transition is not
dissimilar to what is occurring in China. He remains bullish about the
national economy, a view also shared by Woods.
“The opportunities are massive but you need to understand the
rules. Everyone has low rates including Australia. China’s got not just
monetary policy but they’ve got fiscal policy. Monetary policy has
a history of long lags. I think what’s been lost in the global debate is
fiscal policy,” Oster said.
Further opportunities for both nations to do business will open after
the FTA reaches its final stage towards the end of 2015.
“So there’s a possibility of benefits early in 2016, in agriculture and
services with companies based in Australia exporting to China and
Chinese nationals coming to Australia, for health and treatments,”
Woods said.
issue 178 | austcham news
•9
2015
Cover
ACCESS
Story China Forum
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Corporate Sponsor:
10 • austcham news | issue 178
4
5
9
This year marks the Chamber’s fourth
ACCESS: CHINA FORUM.
The event held on 20 November at
JW Marriott Hotel attracted great
turnout in sessions focused on building
and strengthen Sino-Australian
business connections.
1 Carmen So, Charlene Lam and Joyce Tsui of Fresenius Medical Care AP.
2 Bradley Peppinck and Craig Cowdrey of Australian Consulate-General.
13
3 Yvette Chan of KPMG and Steven Gibson.
4 AustCham Young Executives Chair Alex Oxford, Ryan Lawson of
Sovereign Trust (HK) Ltd, AustCham Chairman Professor Richard Petty,
Benjamin Wong of Wells Fargo Bank N.A.
5 Deirdre Lander of Tower Watson, Patrick Trainor of Comerstone
Strategic Partners Ltd and AustCham Mentor Program Manager
Mary Barbara Hanna.
6 Alfred Lee and Terry KT Lau of BDO Ltd.
7 Rong Fan of Addleshaw Goddard, Trish O’Niell of Australian Premium
Wines and David Clynch of Aussie Property Invest.
8 Christopher Xing of KPMG and Adam Goern of TPA & Co. Ltd.
9 Jenni Kang of Austrade, Pinky Fung of The Fred Hollows Foundation
and Teresa Tam of Primasia.
17
10Brigitte Monchouguy, Jasper Dowding and Steven Gibson.
11 Robert Quinlivan of Macquarie Group, Professor The Hon. Bob Carr
and Lie Ming Or of CA ANZ.
12Sara Lynch of Minter Ellison and Michael Ling of CLP Holdings Ltd.
13Ferdi Stolzenberg of Elegant Fortune Ltd, Tony Page of Mining
Associates Ltd and Brett Stewien of Addleshaw Goddard.
14Josephine Orgill of Barclays and AustCham Committee of Macau
Members Chair Michael Usher.
15Warren Liu of National Australia Bank and Windsor Cristobal of
Wesfarmers Ltd.
16Derek Ma and Amy Lo (right) of BDO Ltd with Catherine Dei of
Austrade (middle).
17David Simmonds of CLP Holdings with Moderator Sarah Clarke of
Australia Plus.
issue 178 | austcham news
• 11
Feature Interview
Veteran Statesman Sees Pragmatism
the New Normal in Australia-China
Interview with Professor the Honourable Bob Carr, Foreign Minister of Australia (2012-2013),
current Director of the Australia-China Relations Institute.
J
ust months after electoral change in Australia resulted in Labor losing office in
2013, former Foreign Minister of Australia, Professor the Honourable Bob Carr
moved into another sphere of political debate – as Director of the AustraliaChina Relations Institute (ACRI) at the University of Technology, in Sydney.
As the first think-tank devoted to Australia-China relations, ACRI focuses on
fostering a positive relationship between the two nations, promotes informed
policy development and encourages debate.
This year marks 20 years since the veteran statesman, author and former journalist
became Premier of New South Wales leading the State for a decade before retiring
in 2005. In 2012, he returned to world stage as Australia’s Foreign Minister where
he actively fostered stronger ties with Southeast Asia. As Foreign Minister, he
was involved in negotiations resulting in the lifting of sanctions on Myanmar,
campaigned for the passage of a global Arms Trade Treaty and contributed to
Australia’s successful bid for a seat on the UN Security Council while assisting the
then Prime Minister Julia Gillard in strengthening ties with China.
Q:How important are forums such as the 2015 ACCESS China
Forum?
A:I think they are exceptionally good. The fact is, while I think I
am reasonably familiar with the material, this morning I was
learning a lot and I was seeing other Australians grapple with
some of the issues in the Australia-China relationship.
Q:Are the proposed new foreign investment rules likely to
change the way we do business with China or is a positive
move?
A:China is continuing to open its economy and allow the
market to play the biggest part, everything’s compatible
with that. At the same time, they’ve retained the capacity to
intervene, and one of the reasons that gives me confidence
about China is the government’s capacity to make things
happen.
I think it would be a mistake to make too much out of the
stock market.
Yes, it did slump but that was after rising very steeply. The
stock market is not the real economy in China and fewer
12 • austcham news | issue 178
people today believe China is headed for a hard landing than
did a few months ago. I think that’s a significant shift.
The assessment we’ve had today is China is going through an
economic readjustment as it had always planned to do.
Q:China has also flagged national security laws and we, in
Australia, recently blocked this investment (Sydney Kidman)
on the grounds of national security, is it a two way street
normally?
A:I think we are entitled to review foreign investment proposals
in Australia. We’re entitled to say, from time to time, an
investment won’t proceed and I think that’s good for
foreign investment overall because the Australian public has
confidence that foreigners aren’t having open slather.
So the foreign investment review regime gives Australians
confidence that these things do get looked at. Given that
Australia has been very open to foreign investment, we are
allowed from time to time to make a decision that says “no”.
The previous Labor government took that decision about
Singaporeans buying into the Australian Stock exchange.
as
Relations
- Ingrid Piper
Q:Does the Australian Government need to be careful
in the way it handles the transition away from the
US towards China as the dominant economy in the
world?
A:I think you have got to be brave enough to say that
our interests aren’t always the same as those of a
great power. In other words, like other American
allies, we can look at our own interests in China.
Q:We’re about to negotiate with the AIIB, the FTA is
moving towards actuality in the next 5-10 years,
we’ve got Trans Pacific agreements, do we have too
many trade agreements, are we in danger of playing
too much politics?
A:Bi-lateral free trade agreements are no substitute
for a general agreement on tariffs and trade but the
China one is defensible because that’s the direction
our trade is going in.
Other FTA’s could say, distort trading patterns,
but this was a state of the art one. The advantages
it confers won’t last forever but any advantages
beyond what we’ve got, that other nations get, will
flow on to us because of the most favoured nation
provisions within that agreement.
Q:Alan Oster, Chief Economist, National Australia
Bank said today he doesn’t believe Australia will go
into recession, how do you feel about that?
A:Well that’s terrific news! We’ve had this run for 25
years without a recession. That puts us ahead of any
other nation except Holland; it would be very nice
for the Australian people to have this continue!
And I hope he’s right on another front as well
saying that just as the Chinese are in a transition so
are we, that is, a transition away from a resourcebased economy is a good way of putting it. And I
think there was a smile on every face (attending the
forum) when he said that.
issue 178 | austcham news
• 13
14 • austcham news | issue 178
Australia Focus
Pragmatic China Policy a
Wise Move for Australia
Australia is again leaning to pragmatism in China policy, even if it
means disappointing the US.
- Bob Carr
P
resident Barack Obama himself phoned
Tony Abbott asking Australia to boycott
the Asian Infrastructure Investment
Bank. Last month in Beijing we became the
fourth nation to ratify the bank’s articles. Now
it looks as if we will not follow the US lead on
the South China Sea.
On October 27, the Americans sailed a guidedmissile destroyer within 12 nautical miles of
Subi Reef in the Spratlys, supposedly to make a
point about threats to freedom of navigation.
The question hovered. Would Australia join the
US, deputy sheriff’s badge glittering in tropical
sunlight? Headlines suggested Australian
patrols slicing through the disputed waters was
just a matter of time.
It emerged, however, that no other American
friend, ally or partner was going to run ship
transits in support of the US position. Not even
Japan, which received a request from Obama
during the Asia-Pacific Economic Co-operation
summit. On November 22 Prime Minister
Shinzo Abe ruled it out: “The Self-Defence
Force does not engage in regular surveillance
activities in the South China Sea at the moment
and has no concrete plans to do so.” Hard to be
more definitive.
Britain and New Zealand are running
pragmatic, national interest-based China
policies; so are two other US allies, South Korea
and Canada. Australian commentators, often
seeing the world through a Washington lens,
sometimes fantasise that India is in a trilateral
or a quadrilateral (with the US and us, plus
Japan). But there is no Indian interest.
US and Australian ministers met in Boston
in October. In John Kerry’s home town one
can imagine the US charm and flattery being
lavishly applied to ministers Julie Bishop
and Marise Payne, with lofty invocation of
freedom of navigation, summoning up Thomas
Jefferson and the Barbary pirates, even Franklin
Roosevelt’s destroyer deal.
But on the ABC’s 7.30 on November 26,
Malcolm Turnbull deliberately talked down
conflict in the South China Sea. This was
a contrast with his first interview as Prime
Minister on the same program on September
21 when he appeared to talk it up. In fact, he
forced it into his dialogue with Leigh Sales. This
time Turnbull downplayed the dispute. “It’s
more newsworthy but it fails to capture the
remarkable degree of unanimity and common
purpose in the global community,” he said.
Australian cold warriors had appeared excited
at the image of a half-dozen navies, flags taut,
weaving between reefs and islets of the Spratlys
and the Paracels following the Stars and Stripes.
It is not going to happen.
Meanwhile, China hauling itself into middleincome status is the best news Australia’s got.
In Hong Kong last month, one Australian
investor said, “The hard landing scenario is
probably a minority view now.” Growth of 6.5
to 7 per cent between now and 2021 looks a
reasonable guess.
In Beijing one of the country’s leading
economists, Justin Lin of Peking University,
told me he favours this projection. He has been
consistently right about the Chinese economy
for 25 years. It barely matters but the Shanghai
Stock Exchange has bounced 20 per cent since
August 26.
The International Monetary Fund adheres to
its view that by 2020 China will add 44 per
cent to its economy. On the available evidence,
then, China can be optimistic about elevating
another 850 million into middle-class status by
2030. That is 70 per cent of its population with
middle-class spending power compared with
about 20 per cent now.
The Australian Treasury recently confirmed
Australia is suffering sub-trend growth, deficits
as far as the eye can see, nothing to replace the
resources boom. There is nothing on the horizon
as promising for this country than China reaching
middle-income status in 15 years.
Like all other US allies, we’re entitled to run
a China policy based on national interest.
Americans are realists; they would expect no
less. I quoted Kurt Campbell in my diaries,
saying in 2013 when it came to the America
and China relationships, Australia could simply
be “the most desired girl on the block”. Coolheaded, and correct.
We bring our own weight to the alliance. We
are the largest investment destination for
US capital in the entire Asia-Pacific. We host
two indispensable American communication
bases that we flatter ourselves by calling
“joint facilities”. We line up with a military
commitment against Islamic State, and rightly
so. We are expanding our submarine fleet,
which adds, in anyone’s calculations, to the net
Western or Allied presence in the Asia-Pacific.
But, on the other side of the ledger, we run a
pragmatic China policy based on our national
interest. Washington will reserve its right to
occasionally grumble.
Meanwhile, it’s up to America to decide
whether to turn the challenge of China into a
battle for primacy, leadership and dominance;
or whether it relaxes into dealing with what
looks like an inevitable re-emergence of China
as a great power.
If the US attempts to persuade allies and
partners to isolate China — and, to be fair,
there’s no evidence that this is the settled
American strategy — then they are likely to
be rebuffed, as on the AIIB, as on naval patrols.
US allies as diverse as South Korea, Britain and
Canada, a partner like India, may come to view
US lobbying against China as a bit eccentric.
US allies may say, as did New Zealand Prime
Minister John Key, there is room for more than
one great power in Asia. Ouch. .
Former foreign minister and NSW premier
Bob Carr is director of the Australia-China
Relations Institute at the University of
Technology Sydney.
The article was first published in
The Australian on 12 December 2015.
issue 178 | austcham news
• 15
Cover Story
Spotlight
P
ort Adelaide’s SAASTA Aboriginal AFL Academy
team recently visited the Australian International School
when they stopped by Hong Kong for their ten-day
cultural exchange trip to China in late November.
The visit to Australian International School was very well
received by the Academy Team. The students were most polite
and respectful and most importantly, were very engaged in
each presentation.
School visits are a key part of their trip, this also provides
opportunities for the Academy team members to speak
passionately about their background, to promote their culture
and share their varying experiences.
Similarly, in return, the Academy team members thoroughly
enjoyed hearing stories from the school students about their
own experiences growing up in a different country, or, for some
of them, different countries.
During their visit to China, the team also took part in a series of
cultural initiatives including an exhibition game against Team
China, the Chinese national AFL team, in Guangzhou, cultural
exchange sessions at local schools, football coaching clinics, an
official reception at the Australian Embassy and a visit to the
Great Wall of China.
Academy players spoke to primary school classes about their Aboriginal
origins, i.e. what “country” or part of Australia their tribe originated from.
As an extension to this each member spoke about their tribe’s native
language and each chose a word to translate for the students
Port Adelaide chief executive Keith Thomas said the trip to
China was a great reward for the Academy team members
and works perfectly within Port Adelaide’s two key off-field
strategic objectives – Aboriginal community programs and the
continual engagement of the Chinese community.
Academy players then showed
students traditional hunting
weapons such as the Boomerang
and spears that have been
handed down from generation
to generation.
Academy players performed their traditional “War
Cry” for students. This War Cry or War Dance was
originally developed by the Australian Boomerangs
– the National underage Aboriginal team – and has
now been adopted by this Academy team. They now
perform this prior to every match they play.
The visit was completed with a lunch on the roof and
the Academy team members and school students
each placed painted handprints on a canvas as a
symbolic sign of unity and respect
16 • austcham news | issue 178
Academy players held an
Auskick training session
showing the student s
basic football skills such as
kicking, handballing and
marking.
Industry Insights
The 5 main Reasons to Consider
Hong Kong when Investing in China
As the top recipient of foreign direct investment (FDI) in 2014 (source: UNCTAD), China is unarguably an important destination for
investment. Given the complexity of China’s regulatory environment and implementation procedures, Hong Kong has always been
and continues to be the preferred jurisdiction for structuring both China inbound and outbound investments. In 2014, close to 72% of
investments into China were through Hong Kong, while its second largest investor, Singapore, accounted for less than 5% of China’s
inbound FDI (source: Investment Promotion Agency of MOFCOM).
- Keri Wong, Vistra
B
elow are the main reasons why Hong Kong is favoured over any
alternative.
1. Protection for the foreign parent company
The private limited company is the most common type of entity to be
registered in Hong Kong. It is governed by the Hong Kong Companies
Ordinance, has its own independent legal personality and liability is
limited to a shareholder’s subscribed capital. As a holding company for
foreign investment into China (whether it is a wholly foreign-owned
enterprise, joint venture (JV) or representative office), this structure may
offer foreign investors more protection than a direct shareholding in a
Chinese company and significantly more protection than creating a JV
in China, where ownership is shared with a local Chinese partner. If a JV
is used, structuring it at the Hong Kong level may offer greater flexibility
and less risk for investors than setting up the JV in China.
2. Legal benefits
Many investors in the region prefer their contracts and disputes to be
governed by Hong Kong law and subject to the jurisdiction of the Hong
Kong courts. This is because Hong Kong has a stable, mature and
accessible legal system, based on the familiar concept of English
Common law and supported by a fully independent judiciary.
As a leading international arbitration centre, Hong Kong’s courts are
renowned for upholding arbitral decisions that are consistently
recognised in jurisdictions around the world. In addition, since 2006: an
arrangement between Hong Kong and China has enabled the reciprocal
enforcement of court judgments. This applies to final and conclusive
financial judgments and to arbitral awards. Consequently, businesses
that choose to use the Hong Kong courts may have more confidence
that judgments will be upheld in China.
Another attractive feature of Hong Kong’s legal system is the
protection offered to intellectual property (IP). This is more extensive
and enforceable in Hong Kong than in China, and many businesses
operating in China may wish to register their IP rights through a Hong
Kong holding company to ensure infringements are dealt with
appropriately.
3. Additional flexibility
Transferring or restructuring shareholdings in a Chinese vehicle is a
lengthy process that requires compliance with Chinese regulations and
cooperation of government authorities as well as extensive
documentary approvals.
Corporate restructuring at the level of a Hong Kong holding company,
however, is a straightforward process of registration and filing. Although
some reporting may be required in China for the change of shareholding
of a Hong Kong holding company, it is easier and more efficient than
restructuring a Chinese vehicle directly.
Hence, for businesses that operate in Mainland China or across the region,
a Hong Kong company is an effective regional holding platform,
streamlining the investment and disposal process of entities in North and
South East Asia.
4. Potential tax benefits
When investing in China through a Hong Kong company, certain
advantages may be granted by the double tax agreement (DTA) between
Hong Kong and China, which is one of the most well-established and
familiar tax agreements to Chinese authorities:
a) Dividends: under the DTA between Hong Kong and China, dividends
paid by a Chinese company to a Hong Kong parent are subject to
withholding tax at the reduced rate of 5%, provided the DTA
conditions are met. Dividends paid by a Chinese company to a foreign
investor are subject to withholding tax at the rate of 10% unless
reduced under a DTA.
b) Interest and royalties: received by a Hong Kong parent company
from a Chinese subsidiary also benefit from the DTA – the maximum
rate of withholding tax on both is reduced to 7%. This compares
favourably with direct payment from China to other jurisdictions
where the current withholding tax rate is 10%, unless otherwise
reduced under a DTA.
It must be noted that to take advantage of the DTA, the Hong Kong
company must be able to demonstrate business substance in Hong Kong.
In addition, Hong Kong adopts a territorial system of taxation where a tax
exemption may be granted for profits that are not of a Hong Kong source.
Profits derived in Hong Kong are only subject to a corporate tax rate of
16.5%. Hong Kong does not charge tax on dividends received by a Hong
Kong company or withholding tax on dividends paid to shareholders
(local or overseas).
5. Simple, efficient and cost-effective administration
From an administrative perspective, incorporating a company in Hong
Kong is quick, easy and cost-effective. It can be completed within 24 hours
and requires only a minimum of one individual director. Company filings
are limited and annual reports, accounting and tax filings are
straightforward. Although the company must have a local secretary and a
local registered office, directors do not need to be resident in Hong Kong.
Conclusion
With the modernisation of foreign investment policies in China and
countries in the region, investing directly has become significantly easier
in recent years. Nevertheless, many foreign investors still opt to invest via
an investment holding vehicle based in a jurisdiction, such as Hong Kong,
that offers better protection, familiarity and flexibility as well as
accessibility when entering new markets.
For more information about setting up a Hong Kong
holding company, please visit www.vistra.com.
issue 178 | austcham news
• 17
Commentary
ALCOLM TURNBULL bounded into the job
of Prime Minister with the enthusiasm and
optimism of someone who’d been waiting a very
long time for it – which he had.
M
Sydney University Emeritus Professor of Politics, Rod Tiffen,
recently collated stats revealing that Australia had been eagerly
nudging towards Italy-like political instability for more than four
decades.
After his December 2009 loss of the Opposition leader’s job to
Tony Abbott, Turnbull recognised he had a number of skills to
acquire.
He found that between 1970 and 2014, 69 successful leadership
challenges were mounted in political parties in the six states and
federally (he didn’t include switches in political leaders in the
Australian Capital Territory or the Northern Territory).
The list wasn’t long, but held the key to the door of The Lodge –
but first he had to reclaim the Liberal leadership.
His learn-to list included: how to avoid being headstrong,
while continuing to be an authentic politician; how to develop
a centrist policy vision for Australia without alienating the
extreme elements of his party; and how to breathe deeply and
cultivate the excruciating art of patience.
The first two skills were essential for Turnbull to craft himself
as a modern liberal leader, acceptable to the disparate churches
within his own Party and, importantly, to the broad sweep of
voting Australia.
Learning patience was just as important. Within every leadership
aspirant, no matter how noble his or her aspirations, lurks an
overblown ego busting to assert itself.
And impatience – to become Prime Minister, to develop a policy
vision for the country, to be seen as the superior intellect in
parliament – had been one of Turnbull’s near-fatal flaws.
But when you want something desperately enough, you do what
it takes.
Turnbull ticked off everything on his must-do list, reclaiming the
Liberal leadership and, simultaneously, a bed in The Lodge.
Being the first conservative federal MP to achieve such a feat
must have given Turnbull some satisfaction.
His presentation to weary Australian voters as a Prime
Minister offering respite from gladiatorial politics, who talks
optimistically of Australia becoming a forward thinking, cando-everything nation, has been received as hungrily as rain on a
drought-affected paddock.
His vision to turn a negative, inward-looking Australia into an
outward, savvy nation has – so far – struck a chord. Two months
on, the fickle barometers of public sentiment, the published
opinion polls, continue to improve for the new PM.
After thirty years working in the media and politics, the last
seven advising companies about how to engage in the volatile
Australian political and media environment, my observation is
that Australia has shifted gears after a few decades of savage
personality politics.
I hope it’s not just a blip on the radar, as Aussie politics over
the last few decades has been as unstable as a banana republic,
sapping business and investor confidence.
18 • austcham news | issue 178
Thirty-seven transitions occurred in the thirty years between
1970 and 2000. Then the pace accelerated: in the following 14
years up to 2014, there were a staggering 32.
Turnbull looks like he could be the one to change this toxic
dynamic.
Personally, he has nothing to lose. He forfeited a sevenfigure income and divested the equivalent of an MP’s lifetime
salary in investments when he first entered parliament - for a
backbencher’s salary of around A$180,000.
Even as PM, his A$500,000 salary, give or take a few dollars, is
chump change compared to his pre-politics earnings.
Can he restore credibility and dignity to Australian politics? The
portents are good.
He has created ministerial portfolios of cities, and of innovation
– two big, modern challenges for Australia’s future; declared
the vast region of northern Australia a future premier economic
zone, particularly for Asian investors; boosted the number of
women in his cabinet; and forcibly retired half a dozen oldtimers who’d passed their expiry date a decade ago.
He’s opened up a long-overdue debate about tax reform, and
has flagged he will be zealous in positioning Australia as a major
contributor, and beneficiary, of the Asian commercial success
story.
As he said when announcing his new Government’s core
approach: "We're not seeking to proof ourselves against the
future: we are seeking to embrace it. And this is a Government
and a ministry that has that as its focus."
Amen to that.
~ Kerry-Anne Walsh
About the author:
Kerry-Anne Walsh is a former political journalist and awardwinning author who is Director of KA Communications, an
Australian consultancy specialising in helping Asian companies
engage with key political, media and industry stakeholders in
Australia. Kerry-Anne is also a premier media coach who creates
an authentic voice for Asian executives whose businesses rely
on their strong presence in the combative Australian media. She
recently addressed AustCham Hong Kong about the political
environment in Australia – www.kacommunications.com.au
AustCham Members in Macau
Consular Briefing and Macau Mingler
A
ustralian Consul-General, Mr Paul Tighe conducted a briefing for Australians
living or working in Macau in late November. The briefing provided an
overview of passport and
consular services, immigration services,
trade promotion and other activities
undertaken by the Consulate. The briefing
was then followed by AustCham year-end
networking drinks in Macau.
Thank you to our sponsor Aristocrat
and venue partner Banyan Tree.
Andrew Scott of World Gaming
Group and Campbell McLean
of Aomen TV.
AustCham Committee of Macau Members Chair
Michael Usher, Craig Cowdrey of Australian ConsulateGeneral and Nathan Tuck of event sponsor Aristocrat.
Carolina Ung of Zonta and
Tony Dick of Tea Concepts.
Liviano Lacchia of Galaxy, Stuart Kennedy of
Dallmeier International, Geoffroy Thonon of
Manetic and Colin Stass of Adeas.
Catherine White of Sands and
Mary Antoniou of Australian
Consulate-General.
Johnson Wong of eWater and
Joshua Strehle of Australian
Consulate-General.
Corporate News
Design Set for Unique Mall Experience
A
warded global design and consulting firm Woods Bagot recently completed two major
projects in China, Fantasia OMG Mall in Guilin and Hangyang Admiral City Mall in Nanning.
The Woods Bagot-designed Fantasia Mall is situated in the new development district of Guilin and
positioned to be a ‘young, colorful and playful’ mall, targeting the mid-range spending customers.
The 18,000 sqm space features five floors and a basement; with a number of retail and F&B outlets.
Significant effort was made in the overall design approach to ensure that each of the ‘Fantasia’
malls share a common language, at the same time be unique and responsive to the local market.
“The Fantasia Mall project was a great opportunity to design a space that directly reflected the
developer’s brand and at the same time create a unique mall experience for their customers,”
says Woods Bagot Principal, Christopher Lye.
Woods Bagot also took lead in the reposition project to renovate Guangxi East Hangyang
Investment Group’s Nanning Hangyang Admiral City Mall with a new unique service offering.
The Mall locates in the center of Nanning, Guangxi Zhuang, consists eight levels that includes
cinema, supermarkets, food plaza and retail within a GFA of 150,000 sqm. The site is well
connected to the adjacent metro station, hotels and a number of office towers.
issue 178 | austcham news
• 19
Chamber's Voice
AustCham Advisory Council
AustCham announces the launch of The Australian Chamber of Commerce in
Hong Kong and Macau's Advisory Council. The Chamber would like to thank the
founding members of this council for their kind acceptance of this important role.
AustCham Advisory Council
Mr Paul Tighe
Consul-General,
The Australian Consul-General Hong Kong
and Macau
Ms Anita Fung, BBS, JP
Director,
Hong Kong Exchanges and Clearing Limited
Mr Cliff Sun, BBS, JP
Executive Director,
Kinox Enterprises Limited
Dr David K P Li, GBM, GBS, JP
Chairman and Chief Executive, The Bank of East Asia
Mr Edward Kwok Wai Tak
A cocktail reception was held at the Australian Residence earlier
this month to welcome the Advisory Council members.
Chairman,
ACMC Group (Australia) Limited
Mr Herman Hu Shao-ming BBS, JP
Chairman,
Ryoden Development Limited
Mr HL Kam
Group Managing Director,
Cheung Kong Infrastructure Holdings Limited
Dr Joseph Lee, GBS, OStJ, JP
Chairman,
Wofoo Plastics & Chemicals Group
Mr Kenny Zhang
CEO/Chairman,
Waratah Group
Mr Richard Lancaster
Chief Executive Officer, CLP Holdings Limited
Ms Sophia Kao
Member of the Central Policy Unit of the
Government of the Hong Kong Special
Administrative Region
20 • austcham news | issue 178
Committees in Action
AustCham Young Executives: 12th CEO Forum
T
he AYE Committee held its last CEO Forum for 2015 at the
Herbert Smith Freehills office on 3 December. It was a record
number of attendances by the young executives and friends
to listen to the topic of “Understanding the Role of Technology in
Today’s Business Environment”. The three guest speakers were Sam
Gellman, North Asia General Manager of Uber, Leonie Valentine,
Director Customer Experience (APAC) of Google and Michael
Tempany, Director of SMS Management and Technology Asia.
The panel discussion was moderated by Damien Bailey, Partner of
Herbert Smith Freehills.
The theme of innovation was strong throughout the discussion
where Sam alluded to the ‘best idea wins’ concept at Uber to foster
innovation. Moreover by challenging the definition of luxury, Uber
revolutionized the car industry. Leonie shared that a strong founder
led company aids innovation as evidenced at Google through
implementing the 20 percent time concept to allow employees
the freedom to work on any innovative idea they choose for 20
percent of their time. Michael advised those of us working in larger
corporate ‘stodgy’ companies to agitate change and innovation if
it does not come fluidly. The speakers also discussed innovation in
China where in the absence of Facebook, WeChat provides various
different offerings to Facebook to their millions of users.
The speakers also provided some tips for those interested in
making a career move into the tech industry. Whilst qualifications
are necessary for certain jobs within the industry, cultural fit
is extremely important. The drive and ability to execute is also
imperative.
The anecdotes and advice provided by the speakers resulted in
a very engaging and insightful discussion. The AYE would like to
thank Sam, Leonie, Michael and Damien for taking the time to share
their experiences with us, and also Herbert Smith Freehills for their
ongoing support to our CEO Series.
- Ruth Haller,
Zurich Insurance Company Ltd
T
o enquire about advertising,
submit an article, comment
or respond to austcham news,
please contact Karen Wu at
[email protected]
or call +852 2522 5054.
issue 178 | austcham news
• 21
AustCham ANZ Mentor Program
A Chat with mentors and protégés
Where to you work?
I work as the Global Fundraising Director at global Not for Profit
(NGO), Animals Asia. I consider myself blessed and lucky to do
something I love every day. Animals Asia’s core focus is improving
the lives of all animals across Asia. With offices across the world,
Animals Asia spearheads three important programmes: Moon Bear
Protection, Cat and Dog Welfare, and Captive Animal Welfare. All
three programmes are conducted under our core culture and banner
of “Respect Life, End Cruelty”.
Why did you join the Mentor Program?
I was looking expand my personal learning and development.
Mentors have always played a crucial role in my career. I need some
external advice and a good sounding board to talk through some
critical business and career decisions.
er
Bianca Fischising Director at Animal Asia
dra
- Global Fun
f Class 2015
- Protégées o
How long have you been in Hong Kong?
I have been in Hong Kong coming up a 3 years. I can’t believe how
quickly the time has flown by, I have loved every minute of it.
What has surprised you most about living in Hong Kong?
The thing that surprised me the most was the outdoors. When
you picture Hong Kong you always visualize skyscrapers, concrete
jungle…but no one really talks about the actual jungle that’s right
on our door step. There are so many things I truly love about this
place, stumbling onto a hidden temples, popping for a coffee or
drink at the very many cool bars and cafes that are tucked away.
Not to mention, the ease of travel, it’s so easy to access the rest of
Asia from Hong Kong.
Please share something you've learned thus far in the program.
The program has been a life line to me this year. My mentor was a
perfect fit and through her coaching and development I have managed
to navigate through some very challenging business situations. My
mentor had the ability to ask me questions which made re-access, stop
and think. It also pushed by personal development by challenging me
in areas that needed addressing. I will be forever grateful to my mentor,
Amy, who came into my life to motivate, rebalance, focus, push and
challenge me…right when I needed it.
Program sponsor:
T
he AustCham ANZ Mentor Program continued its’ innovative approach to
mentoring by providing a “mini” round-table session for program participants
and guests. Using an idea presented by a current protégé, the lunchtime
event provided a platform to hear current program mentors speak on a topic of
their expertise.
David Thomas, Michael Madigan, Susanna Chan, and Amy Benger adeptly
presented Managing Leadership Transitions, Managing Up, Education v. Experience
in Leadership Positions, and Working Across Cultures, respectively. The small
group discussions provided an excellent forum for asking questions, exchanging
ideas and sharing insights.
Thank you to Mitner Ellison for their hospitality in providing the comfortable
meeting space.
January’s event is Turn the Tables during which six protégés will speak on topics
of their choosing. For more information on this event or the AustCham ANZ
Mentor Program, please contact program manager, Mary Barbara Hanna at
[email protected].
~ Mary Barbara Hanna,
AustCham Mentor Program Manager
For more information and details of AustCham Mentor Program,
please contact AustCham Mentor Program Manager Mary Barbara
Hanna at [email protected].
22 • austcham news | issue 178
Membership eCard Benefit
AustCham
Membership eC
ard
In December, AustCham members can enjoy
special discount on air fares and holiday packages
offered by Qantas Holidays.
Special Air Fares
Discount on return ticket from Hong Kong to Australia on
Qantas Airways:
- HK$200 per adult
- HK$150 per child
* Not applicable on group and special promotion.
Qantas Holidays
Discount on Qantas Holidays Packages to Australia:
- HK$200 per adult
- HK$150 per child
* Australia Tours are also available.
For further information or reservation,
please call 2737 6798 or
email [email protected]
www.jetabout.com.hk
- Terms and conditions apply.
- Offers are subject to availability.
k
Than !
you
Member Classifieds
Australia Registered Tax
Agent in Hong Kong
Holistic Business Consulting Pty Ltd.
Chartered Accountant
We specialise in tax planning for Australian
Expatriates, tax returns preparations, private
rulings for deductions.
www.myoztax.com
Call Tommy Ip on +852 69018136 or
email: [email protected]
issue 178 | austcham news
• 23
New Members
Platinum Patron Addition
Australia & New Zealand
Banking Group Ltd
Alfred Bae
Head of Business Management,
CEO Office, Hong Kong
Carole Berndt
Managing Director,
Global Transaction Banking
Chris Wai Ho Chan
Investment Operation Manager
Matthew Chan
Associate Director,
Client Insights & Solutions
Charlotte Collins
HRBP, International Banking, Global
Banking, BPM, CCM, Global Markets and
Global Loans Hong Kong
Lisa Daniells
Enterprise Services Delivery Lead, APEA
Anthony De Rosa
Senior Relationship Manager,
Expatriate Business
Cameron Dick
CAO, GTB
Karen Jing Feng
Associate Director, HK Research & Analysis
Melody Fu
Editor, ANZ Research
Jin Hur
Manager, Research & Analysis
Eric Ip
Senior Finance Manager
Daniel King
General Manager of HR, International
Banking
Agnes Lai
Business Development Manager,
International Affluent Banking
Mickael Le Gargasson
Director, Client Insights & Solutions
Lositta Ka Pik Lee
Resourcing Advisor
Felicity McKinnon
Director - Lending Services, ANZ Bank Ltd
Francyn Stuckey
Head of Capabilities, Client Solutions, GTB
Karen Tsao
Associate Director, Business Risk Strategy &
Efficiency (BRSE) - Asia
Zoe Wang
Manager, Structured Asset and Export
Finance
Snowy Zheng
Learning and Development Manager
Commonwealth Bank Of Australia
Jane Bryant
Senior Adviser, Public Affairs and
Communications
Ernest Cheng
Client Service Manager, Commonwealth
Private Bank
Lachlan Evans
Associate Director
David Hamilton
Senior Private Banker
Esme Hodson
Head of Compliance
Robert Jesudason
Group Executive, International Financial
Services
Preema Kabir
Talent Acquisition Partner
Kenny Chi Hang Lau
Sustainability and Quality Manager
Christine Ma
Client Service Manager, Commonwealth
Private Bank
Justin O'Donnell
Executive Manager, Digital Banking Asia
Jane Roberts
Executive Manager, IFS ES
AustCham Platinum Patrons
24 • austcham news | issue 178
Suzanne Rouse
Senior Assignment Manager,
Group People Services, Human Resources
Anita Shimazu
Human Resources, International Financial
Services
Cassandra Teasdale
Project Manager
Chloe Quy Fong Vuong
Private Banker, Commonwealth Private
Bank
Rebecca Walkey
Talent Acquisition, IFS
Alvin Wei
Director, DCM Origination
Rebecca Wiggins
General Manager, Organisation
Development & Capability Exchange
Rufina Wong
Finance Officer, Hong Kong
Karen Yingxiu Yan
Senior Associate Structuring CRS Global
Markets
Eric Ka Tsun Yeung
Senior Associate - Transport Asia
KPMG
Cynthia Oi Chi Chui
Manager
Franessa Tsz Ying Lam
Consultant
Grace Lee
Indirect Tax Manager
Sebastian Leotta
Director, Private Equity
Tim Luong
Assistant Manager, Global Mobility Services
Yiu Tak Wan
Management Consultant
Ramsey Yu
Manager, Debt Advisory
On The Scene
Our
company provides, audit and taxation services.
Additionally, our affiliated company provides accounting
and company secretary services for Hong Kong companies.
W www.kkchoco.com.hk T (852) 3996 7398 E [email protected]
Peter Bennett with Ami Yu and
Alfred Lau of Ovolo Hotels.
Tom Huckerby of Phoenix Executive
Search and Patti hunt of Make Studios.
Warwick Pearmund of Bo Le Leaders Ltd
and Elvin Wong of Intellect Principle Ltd.
Ian Thomson with Geraldine Johns-Putra of
sponsor Minter Ellison and Trish O’Neill of
Australian Premium Wines.
Anil Utamchandani of Crossings Executive
Search, Angelo Iannazzo and David Clynch of
Aussie Property Invest.
Paula King of sponsors Ambition
and AustCham Chief Executive
Drew Waters.
AustCham Business Development Manager
Jason Quinn, Craig Stevenson, Scott Austin
and Rebecca Lucas of Telstra.
Adler Ho of Adler Ho Property Consultants,
Michael Madigan of OBE Organic and
Charlotte Le Gargasson.
Tara Nangia of Gibson
Innovations and Elisha Vincent
of Macquarie Group.
Hosted by AustCham Women in Business
Network, the November Mix at Six was held
at W Hong Kong’s WET Deck.
Special thanks to network sponsors:
issue 178 | austcham news
• 25
On The Scene
Over 70 guests attended the luncheon on the day.
AustCham Chief Executive Drew Waters,
Minister The Hon. Andrew Robb and
AustCham Chairman Professor Richard Petty.
A
ustCham hosted a
luncheon for Australia
Minister for Trade and
Investment, The Hon. Andrew
Robb AO MP during his visit to
Hong Kong. The Minister addressed
guests on different topics including
China-Australia Free Trade
Agreement, tourism development
and his vision for infrastructure
investment in the region.
Wendy Tong Barnes (left) and Joanna Chen
(right) of Cheung Kong Infrastructure Holding
with Yvonne Chan of Austrade (middle).
Congratulations to all the lucky dr
aw win
ners on th
e night!
26 • austcham news | issue 178
Millie Edwards with Gavin Denton of
Arbitration Chambers Hong Kong.
Linda Yan of National Australia Bank
and Anthony Barry of Aurecon.
AustCham’s end-of-year party Christmas Mix was held at the beautiful
garden lounge in Hong Kong Club on 11 December.
Special thanks to event sponsor Cheung Kong Infrastructure, The Pulse and
all the prize sponsors on the night!
AustCham Board Director Clement
Chan with AustCham Advisory Council
member Ms Sophia Kao.
Tamara Bond of Animals Asia and
Ashley Miller of Hays Talent Solutions.
Ashley Alcock of Spring Property & Construction,
Graham Ackroyd and Lee Hecht Harrison and
Ian Robinson of Robinson Management Ltd.
Luca De Leonardis of Invest Hong Kong, Scott Steyn and
Katie Wilkinson of Prime Time Training and AustCham
Business Development Manager Jason Quinn.
Sarah Griffin and Matthew Antico
of Emporio Antico.
John Barclay of Primasia and
AustCham Deputy-Chair Tom Corkhill.
Edward Gumbley of Mann
Made HK Ltd and Peter Keller of
The Hub Hong Kong.
Mark Smith and Manuel
Alvarez Muñoz of Leighton Asia.
Kevin O’Shaughness and
David Boehm of The Hub Hong Kong.
Matt Clarke of SMS Management &
Technology and Greg Penn of CBRE.
Christopher Dee and Trena McFarland
of Cheung Kong Property Holdings Ltd.
Emily Trusler of Ernst & Young
and Vivien Lau of Abacare.
Boyd Merrett of Leighton Asia, Michael Camerlengo of
KPMG and Paul Hart of Knight Frank.
Winnie Janusz and Sebastian Cheung of
Candid Properties Ltd.
More coverage can be found on
our online photo album:
www.flickr.com/photos/austchamhongkong
Mariam Fergusson of Prudential
Corporate Asia, Maree Higgins with
Eliza Wong of IRI-Aztec.
issue 178 | austcham news
• 27
CONNECT
ENGAGE
REPRESENT
The Australian Chamber of Commerce Hong Kong and Macau 香港及澳門澳洲商會
| www.austcham.com.hk