austcham news 174 by The Australian Chamber of Commerce in Hong Kong

AUSTRALIA-CHINA BUSINESS CONNECTION EDITION The Australian Chamber of Commerce Hong Kong and Macau 香港及澳門澳洲商會

ISSUE 174, 2015

2015 Australia-China Business Awards showcases excellence and innovation P.15

Europe Europe

Russia

P.21

Mongolia

Central Asia

Europe

Mediterranean Sea

Persian Gulf West Asia

Indian Ocean

South Asia Southeast Asia

China Focus: China Australia - the way ahead

South China Sea South Pacific

Women in Business Network: AustCham’s newest network gains momentum

www.austcham.com.hk

Contents

austcham news issue 174 03 Chamber Chatter 05 Events Update 06 Cover Story • 2015 Australia-China Business Awards showcases excellence and innovation • Congratulations to This Year’s AustCham Westpac Australia-China Business Awards Winners!

Editorial Committee: Drew Waters Karen Wu

• ACBA 2015: On the Scene

15 China Focus • China Australia – the way ahead

Hon. Richard Alston AO

Advertising: Karen Wu Email: karen.wu@austcham.com.hk

CONNEC T • ENGAGE • REPRESENT

18 Chamber's Voice

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.

18 AustCham ANZ Mentor Program

20 Committees in Action

21 Women in Business Network

22 Macau Business Network 25 Corporate Profile PwC

26 On The Scene

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: austcham@austcham.com.hk

Disclaimer:

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 174

Chamber Chatter

Chairman's Column

am pleased that the AustCham Westpac Australia-China Business Awards (ACBAs) 2015, hosted by Hong Kong this year, were such a marvellous success. The ACBAs started in Hong Kong many years ago and now rotate between the AustChams in Hong Kong, Shanghai and Beijing. Last year Shanghai did a great job and next year it will be Beijing’s turn. Hong Kong’s Chief Executive, The Honourable C.Y. Leung, opened this year’s Awards. Australia’s Ambassador to China, Her Excellency Frances Adamson, Australia’s Consul-General to Hong Kong & Macau, Paul Tighe, and The Honourable Regina Ip were guests of honour. They were joined by visiting dignitaries from Taiwan, Singapore, and Australia and a room packed full of Award winners and guests. Title sponsor Westpac once again showed its support for the Australian business community in Asia and Award category sponsors included Austrade, CLP, Cheung Kong Infrastructure, CPA Australia, China Southern Airlines, and Waratah Group all made significant contributions in support of the Awards. Other supporting partners included Australia Plus, MCI, Treasury Wine Estates, Grand Hyatt Hong Kong, Wolf Blass, Brandwerk, and Superbock – many thanks to all. Our friends from AustCham Shanghai, represented by Chairman Peter Arkell and Managing Director James O’Loughlin, and from AustCham Beijing, represented by General Manager Nick Coyle and Deputy Chair Mina Guli, joined us for the event. Former Minister in the Howard Government, and present Federal President of the Liberal Party of Australia, The Honourable Richard Alston AO, did a fine job as keynote speaker, drawing on his knowledge of China through both business and political dealings that go back nearly 30 years. The winners were most deserving of their awards. In order of presentation on the night they are: Business Excellence Award for Agriculture, Food and Beverage - Bridestowe Estate: The world’s largest fine lavender farm, Bridestowe has been renowned for generations for the beauty of its fields and the quality of its lavender oil. Business Excellence Award for Business Innovation sponsored by Cheung Kong Infrastructure – SmartBuyGlasses Optical Group: A leading designer eyewear e-retailer with websites in over 30 countries and 15 languages. The firm operates a proprietary global platform that they use to service customers throughout the world. Business Excellence Award for Construction, Infrastructure and Natural Resources – Marshall Day Acoustics Pty Ltd: The firm provides performing arts centre acoustic design, architectural acoustics, environment impact assessments and vibration consulting services. Business Excellence Award for Education and Training, sponsored by Australian Trade Commission – University of Wollongong: The university has built a reputation as an enterprising institution with a multi-disciplinary approach to learning and research, underpinned by strong global partnerships and community engagement. Business Excellence Award for Services, sponsored by China Southern Airlines – King & Wood Mallesons: The first and only global law firm to be headquartered in Asia. The firm is powered by more than 2700 lawyers across more than 30 international offices. Business Excellence Award for Start-up Enterprises, sponsored by CPA Australia – MadePartners Limited: A rapidly growing professional services provider of procurement, project management, auditing and quality inspection services of manufactured industrial products sourced from China. Business Excellence Award for Sustainability and Social Impact, sponsored by CLP Holdings Limited – Blackmores Limited: An Australian leading natural health brand that improves peoples’ lives by delivering natural health solutions to become peoples’ first choice in healthcare. People’s Choice Award for Advancement of Women in Business – Fiona Nott, Director of Aesop: Fiona is actively involved in gender and diversity issues in Hong Kong. She is a director of AustCham Hong Kong & Macau, Chair of its Women in Business Network and is a regular panelist and advisor on gender diversity issues. Recognition for Great Individual Impact on the Australian China Bilateral Relationship, sponsored by Waratah Group – Kerry Stokes, Executive Chairman of Seven Group Holdings Limited. Sincere congratulations to all the winners. I encourage them to enter the Awards again next year along with many other Australian companies that are doing great work in Greater China. 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 chairman@austcham.com.hk issue 174 | austcham news

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Chamber Chatter

Across My Desk

y now you will have taken note of the winners within each of the award categories of the Australia-China Business Awards. You may not know a great deal about each of the winning businesses, however, or the excellence they bring to the table as recipients of such prestigious honours, but a look inside this month’s AustCham News will provide a glimpse of their special contributions. The judging panel impressed upon me the quality of the nominations this year, and just how close the selection process was. This is a great endorsement of the calibre of Australian businesses working in China, and an encouragement for all nominees, finalists and winners to be just as engaged in the process again next year.

Congratulations again to all of the winners. Ambassador Adamson travelled to Macau the following day to meet with our members there, and spoke to them about the relationships between Hong Kong and Macau, China and Macau, and the greater association with China. It was a relaxed and informative evening, on what turned out to be a very hot day. And what hot days we’ve seen lately, following so much early rain. Perhaps the perfect chance to cool down at our next Mix at Six? I’ll see you all there. Drew Waters Chief Executive

I hope I see you all in Beijing. The Awards Gala was a glittering affair and I would like to thank our principle sponsor, Westpac, for all of the support and encouragement in delivering this to you all. The opening of the evening by Hon. C.Y. Leung, Chief Executive of the Hong Kong SAR, and the presence of the Australian Ambassador to China, HE Frances Adamson, the Australian China Heads of Posts including Consul-General Paul Tighe, visiting State politicians, and senior members of the business community, produced a great atmosphere where business excellence was rewarded.

Community Service at Australian International School

s a non-profit organisation, AISHK is committed to instilling a strong sense of community service and ongoing civic engagement in the community. Community service programs exist through all year levels at the school through our House system, each House having a specific organisation that students support throughout the school year. The idea behind this initiative is for students to develop a strong connection with the work of their House’s charitable organisation while fundraising for projects.

Kong spoke to students and gave insight into World Vision’s work in providing hunger relief to people in Asia, Africa and beyond. This is just one of the many other fundraising activities that are organised by our students and staff. To learn more about other community service initiatives at AISHK, please visit our school website at www.aishk.edu.hk.

Beyond House-related community service activities, our students partake in various projects both locally and internationally. For example, this month, 180 students from Year 9 to Year 12 raised $50,000 through the annual AISHK 30-Hour Famine for World Vision Hong Kong, an organisation that is currently assisting refugees in Syria as well as supporting food security and development projects in Somalia, Mali, Zimbabwe, Angola and South Sudan. During the 30-hour fast, Ms Peggy Tu from World Vision Hong

Community Corner

AustCham is a non-profit organisation and provides this space free of charge to other, selected non-profits or charities.

4 • austcham news | issue 174

As I write, we are in the last sitting fortnight of Parliament before the House of Representatives and Senate rise for the Winter break. During the fortnight, the Government announced the signing of the China-Australia Free Trade Agreement, with the Chinese Ambassador to Australia and the Australian Ambassador to China present in the chamber. The Federal Opposition has broadly welcomed the agreement, but will now consider all the details and examine its impact on the Australian economy. China is Australia’s largest trading partner, and strengthening the critical economic relationship will be important for our future prosperity. The Federal Opposition wants to ensure a high-quality agreement that achieves genuine market access for Australian exporters and supports and creates Australian jobs. Our benchmark for a high-quality agreement with China includes: • New Zealand-plus market access outcomes for Australian farmers • Elimination or significant reductions in tariffs on Australian industrial goods • Retention of Australia’s anti-dumping safeguards • Major improvements in market access for Australian services • Reduction in red-tape and other barriers to twoway investment flows between Australia and China

• No provisions that give Chinese companies operating in Australia superior legal rights to those enjoyed by Australian companies, and • Retention of labour market testing or comparable safeguards on temporary migration. The Federal Opposition believes the impact of the agreement on the Australian labour market warrants particular attention. Any provisions on labour mobility must enhance, not constrain, job opportunities for Australians. The agreement will now be considered by the Joint Standing Committee on Treaties and the Senate’s Foreign Affairs Defence and Trade Committee. The Parliament and the Australian public will also have the opportunity to examine the text of the agreement. These inquiries will allow business, experts and members of the public to have their say. In the meantime, I’ll use the six-week sitting break to get out and about in my community and continue to work for a fair and inclusive Australia. As Shadow Parliamentary Secretary for Defence, I’ll also use the time to meet with Australian Defence Force personnel and Defence industry and stakeholders. Gai Brodtmann MP, Federal Member for Canberra and Co-Convenor of Parliamentary Hong Kong Friendship Group

EVENTS UPDATE

Introducing our new Business Development Manager: Jason Quinn

Tue, 14 July, 1:00pm – 2:00pm Update on China-Hong Kong Mutual Recognition of Funds Deacons, 14/F, Alexandra House, 18 Chater Road, Central, Hong Kong

What’s your professional background? I have worked for the last 11 years in the telecommunications industry. I worked most recently with Telstra in Australia working on the NBN project.

Thu, 23 July, 12:30pm – 2:00pm AustCham ANZ 2015 Mentor Programme: The Art of Social Media and Your Brand ANZ, 22/F, Three Exchange Square, 8 Connaught Place, Central, HK

What did you enjoy most in your past career? Working in telecommunications I got to see the evolution of technology.

Thu , 23 July, 6:00pm – 9:00pm Mix at Six Insomnia, Shop A, LG/F, 38-44 D'Aguilar Street, Lan Kwai Fong, Central

What’s your academic background? I have a degree in business management and administration.

Thu, 20 Aug, 6:00pm – 9:00pm Mix at Six iCON, G/F, Parekh House, 63 Wyndham Street, Central

What’s your favourite place to go during weekends? Since coming to Hong Kong I have spent most weekends hiking in the mountains.

JULY & AUGUST AT A GLANCE

Can you tell us something about your family? My family are from Ireland and they own a small dairy farm.

issue 174 | austcham news

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Australia-China Business Awards Coverage

2015 Australia-China Business Awards showcases excellence and innovation

- Ingrid Piper

Region who highlighted Hong Kong’s reputation as a dynamic global city with one of the world’s most competitive economies. “Our ‘super-connector’ role is about more than high finance. We have a free trade agreement (CEPA) with China. Australian companies are welcome to partner with Hong Kong companies to take advantage of the CEPA’s benefits,” he said. Commenting on the success of all the finalists in this year’s event, Professor Petty said Australian businesses succeed in China when they genuinely try and understand China: AustCham Chairman Professor Richard Petty welcomes all.

nnovation, excellence and tenacity gave seven companies the winning edge in the prestigious 2015 AustCham Westpac AustraliaChina Business Awards (ACBA), held on May 28, in Hong Kong.

The gala award ceremony held at the Grand Hyatt was hosted by AustCham Hong Kong & Macau and sponsored by Westpac Banking Corporation, its lead supporter since 2009. The event was succinctly described by Dan Tebbutt, Senior Trade Commissioner in Greater China as the “night of nights’’ for Australians doing business in China. Professor Richard Petty, Chairman, AustCham Hong Kong and Macau agreed it was a big event on the calendar for the Australian business community in Greater China. “So many Australian companies are here tonight, as are business, community and political leaders, as well as diplomats. It’s a big night,” he said. Now in it’s 22nd year, official guests included the Honourable C.Y. Leung, Chief Executive of the Hong Kong Special Administrative

The Chief Executive of HKSAR, Mr C.Y. Leung addressing at the ACBA 2015 Gala Dinner.

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“Knowing how to enter, when to enter, and of course, having a fantastic Australian product or service is, a great combination.“ “Australians are known to be tenacious, to be determined, to have great ideas, to be hard working, and to have a great can-do attitude and our Chinese partners love that,” he said. Finalists in the 2015 Australia-China Business awards all demonstrated those skills, with seven companies eventually taking out honours in individual categories. 2015 AustCham Westpac Australia-China Business award winners include: • Business Excellence Award for Agriculture, Food and Beverage – Bridestowe Estate, the world’s largest fine lavender farm • Business Excellence Award for Business Innovation – SmartBuyGlasses Optical Group, a designer eyewear e-retailer with websites in more than 30 countries • Business Excellence Award for Construction, Infrastructure and Natural Resources – Marshall Day Acoustics, architectural acoustics, acoustic design for performing arts centres, environmental impact assessments and vibration consulting services • Business Excellence Award for Education and Training – University of Wollongong, an enterprising institution with a multi-disciplinary approach to learning and research • Business Excellence for Services – King & Wood Mallesons, the first, and only global law firm to be headquartered in Asia with more than 2700 lawyers and 30 international offices • Business Excellence Award for Start-up Enterprises – MadePartners, a professional services provider of procurement, project management and auditing and quality inspection service of industrial products from China • Business Excellence Award for Sustainability and Social Impact – Blackmores, a leading natural health brand

Australians are known to be tenacious, to be determined, to have great ideas, to be hard working, and to have a great can-do attitude and our C hinese partners love that...

The Australian Ambassador to China Her Excellency Ms Frances Adamson spoke at the Awards.

Although he wasn’t able to attend the event, Seven Group Holdings Executive Chairman, Kerry Stokes, accepted an award for Great Individual Impact on the Australian China Bilateral Relationship. For the first time, AustCham Hong Kong & Macau also included a new award – a People’s Choice Award for Advancement of Women in Business – a move highlighting the Chamber’s ongoing efforts to encourage women in business.

Professor Richard Petty, Chairman AustCham Hong Kong & Macau

faith and enter again. Every finalist should feel a real sense of accomplishment,” Tebbutt said. Drew Waters, Chief Executive, Hong Kong & Macau says the awards, which are now rotated annually through Australian Chambers of Commerce in Greater China, help encourage closer business ties between the two countries.

Australian Ambassador to The People’s Republic of China, Frances Adamson, the first Australia woman to fill this role in China, presented the award to Fiona Nott, Director of Aesop, Hong Kong. Fiona is also a Director of AustCham Hong Kong and Macau. “It’s so inspiring for women in business to know that there is this award. I’m delighted and overwhelmed - it’s a wonderful honour,” Nott said. “China and Hong Kong offer lots of opportunities for women. It’s such an easy place to do business. There’s so much creativity, there’s so much get up and go here. It’s really friendly for business generally, and that’s really helpful for women starting businesses as well.’’ 2015 ACBA judges included James Campbell, Executive Director Global Diversified Industries, ANZ China Australia & New Zealand Banking Group; Mina Guli, Chief Executive Officer, Thirst; Bina Gupta, Managing Director, BG Business Communications; and Dan Tebbutt, Senior Trade Commissioner & Deputy Consul-General (Commercial), Australian Trade Commission Hong Kong-Macau. Tebbutt said this year’s judging was extended from one to two days so the panel could really drill down into each entry. “The standard of entry was very high, even among companies that were not finalists. I’d urge those companies in particular, to keep the

ACBA title sponsor Westpac’s Andrew Whitford congratulates the winners and finalists.

“What we’ve been able to do with these awards is make people more aware of how they can do business with China and how we can help them do business. “There are some big hurdles but in reality there are a lot (of companies) who’ve done it before and they’ve been very successful,” Waters said. Westpac’s Head of Greater China, Andrew Whitford believes it’s important to publically recognise companies that have taken the big leap to develop a business in China and have been incredibly successful. “It’s about recognising their success,” he said. “Westpac has very proudly supported ACBA for six years. We believe it’s important to continue to support the awards and the finalists and to recognise their great achievements. It’s exciting and fantastic how the Australian spirit is alive and well with these entrepreneurs doing business in China,” he said. With the recently signed China-Australia Free Trade Agreement between Australia and China, speakers and guests were optimistic that future Sino-Australian trade relations would provide even greater opportunities for service industries.

Australian Consul-General Mr Paul Tighe, Australian Ambassador to China Ms Frances Adamson, The Chief Executive of HKSAR Mr C.Y. Leung, AustCham Chairman Professor Richard Petty and Mr Andrew Whitford of event sponsor Westpac on stage for the toasting ceremony.

In his keynote address, the Honourable Richard Alston AO, Chairman of China-based Waratah Group and Chairman of Australian resource company AMEX, said the China-Australia Free Trade Agreement, the issue 174 | austcham news

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Australia-China Business Awards Coverage

creation of an Asian Infrastructure Investment Bank and China’s affirmed One Belt, One Road initiative would all encourage increased investment and provide business opportunities. The FTA in particular has the potential to enhance Australian service industries. “Under the FTA signed late last year, 95 per cent of Australian goods exported will enter China duty free. We will benefit considerably by the elimination of tariffs on meat, dairy and wine. “Nearly all of Australia’s resources, energy and manufacturing exports will be duty free within four years. “The services sector now accounts for about 80 per cent of our GDP and China is already Australia’s largest services market. Financial, professional, agriculture, food, tourism and the hospitality sectors will be major beneficiaries,” Alston said. Alston believes the agreement means Australian business has secured the best ever market access on services provided to a foreign country. Frances Adamson is also optimistic about the benefits of the FTA. “We’ve had a really successful year in our bilateral relationship and that’s due in a large part to the commitment of Australian business. The China-Australia FTA to be signed and ratified by the end of the year, will bring more opportunities for Australian business,” she said. “I’ve been attending these awards on and off for more than 10 years and I’ve seen them grow from a Hong Kong-centric awards night to one that travels to Greater China, reflecting the breadth and increasing depth of business interests.” 2015 award-winning legal firm Wood & King Mallesons’s Global Partner Stuart Fuller said, given the current economic climate and the speed at which change is occurring, that companies considering doing business in the region have no time to lose. “Do it fast. We did this three years ago, so nothing can make up for time but certainly all the trends of the world are heading to Asia, and if you really want to grow your business and get exposure to this part of the world, you have to do it fast,” he said. Andrew Steadson of 2015 award-winning company MadePartners Ltd believes Hong Kong’s business climate offers the best location for companies considering a regional move.

ACBA 2015 Finalists with judging panel.

8 • austcham news | issue 174

These awards make people more aware of how they can do business with China and how we can help them… Drew Waters, Chief Executive AustCham Hong Kong & Macau “If you want to be somewhere in Asia and to establish something regionally, this is the place to do it. If you want to be involved in Greater China, this is the place to run your business from. This is the start. If you’re a start up, Hong Kong is the place to do it.” As a former AustCham Chief Executive, Deborah Biber has been involved in these awards for two decades. The Blue Moon Chief Executive says she sees the Sino-Australian relationship as a two-way street. “The reasons for these awards was to celebrate the excellence of Australian business in Greater China and 22 years ago, it was as much a promise as a fact. Today Australian business in China is excellent. “Companies taking part in these awards reflect the fact that there is a lot going on between Australia and Greater China. But I think more could be done. “Actually, I’d love to see Australians get more used to working outside of Australia and work in Greater China and I want more Australian businesses to do more business and for China to do more business in Australia,” she said. In keeping with the rotating nature of the event, next year’s ceremony will be held in Beijing and Nick Coyle, General Manager, AustCham Beijing, says he’ll be looking to upstage, if possible, Hong Kong’s highly successful 2015 event. In 2018, the awards will return to Hong Kong to be hosted by AustCham Hong Kong & Macau, marking the, 25th anniversary of their foundation. Helping to make the 22nd annual Australia-China Business Awards 2015 an outstanding success and generously supporting AustCham Hong Kong & Macau via sponsorship were ACBA title sponsor Westpac, Awards sponsors Australian Trade Commission, CLP, China Southern Airlines, Cheung Kong Infrastructure, CPA Australia, Waratah Group, supporting partners Australia Plus, MCI, Treasury Wine Estates, Grand Hyatt Hong Kong, Wolf Blass, Brandwerk and Super Bock.

Congratulations to This Year’s AustCham Westpac Australia–China Business Awards Winners! Business Excellence Award for Agriculture, Food and Beverage Bridestowe Estate, the world’s largest fine lavender farm. Award presented by Austrade Senior Trade Commissioner Dan Tebbutt and Treasury Wine Estate’s Barry Galloway, accepted by James Ravens, Director and Head of Asia for Bridestowe Estate who says Asia is looking for Australian products beyond mining and resources.

SEE Y NEXT

“Our experience is that Asia wants what Australia has. And beyond the mining boom, beyond the range of resources that Australia has to offer China, we’re a part of that. It’s about thinking of what’s to offer and how can you offer it in a way that works,” Ravens said.

Business Excellence Award for Business Innovation

IN BEIJING

SmartBuyGlasses Optical Group, a designer eyewear e-retailer with websites in more than 30 countries. Award presented by AustCham Deputy-Chairman Melanie Nutbeam, Cheung Kong Infrastructure’s Wendy Tong Barnes and accepted by David Manning, CEO & Co-founder and Doran Kalinko, Executive Director, Motion Global, who urged other Australian businesses to be working within Greater China.

Thank you fo forward to s Australia-Ch hosted in Be

Sponsored by China Southern Airlines

THANK YOU TO OUR SPONSOR

“It’s a great tribute to the merger of the firm. We were the first Australia-Chinese Australian law firm merger and we are now the 7th largest in the world, it’s a great sign of what Australian and Chinese businesses can do together,” Fuller said. NAMING RIGHTS SPONSORS

Business Excellence Award for Start-up Enterprises

MadePartners, a professional services provider of procurement, project management and auditing and quality inspection service of industrial products from China.

AWARD CATEGORY SPONSORS

Award presented by CPA Australia’s Kenneth Chan, Judge of ACBA 2015 Bina Gupta and accepted by Andrew Steadson, Executive Chairman and Paul Belcher, Chief Executive Officer for MadePartners who says the award acknowledges efforts companies make to establish themselves in the region. Sponsored by CPA Australia

“It’s recognition of the hard work we’ve put in for the last two years and proof that our model works in the marketplace,” Belcher said.

10 • austcham news | issue 174 SUPPORTING PARTNERS

THANK YOU TO OUR SPONSORS NAMING RIGHTS SPONSORS

Business Excellence Award for Sustainability and Social Impact Blackmores, a world-leading natural health brand.

AWARD CATEGORY SPONSORS

Award presented by CLP’s Quince Chong and Judge of ACBA 2015 Mina Guli and accepted by Peter Osborne, Managing Director Asia for Blackmores who said the prize was a team effort. Sponsored by CLP Holdings

“It’s a big thing for us. It’s a great reflection of the team across our business in Greater China. I think this award is important for Blackmores because we believe in sustainability and reducing our carbon footprint and that’s a big part of our culture and a big part of our business, so we are really happy,” Osborne said.

People’s Choice Award for Advancement of Women in Business SUPPORTING PARTNERS Fiona Nott, Director of Aesop, Hong Kong, is actively involved in gender and diversity issues in Hong Kong and is a director of AustCham Hong Kong & Macau.

Business Excellence Award for Agriculture, Food and Beverage • Asian Agribusiness Recruitment, Training & Development • Blackmores Limited • Bridestowe Estate • Yellow Earth Australia Business Excellence Award for Business Innovation Sponsored by Cheung Kong Infrastructure • Helen Kaminski Pty Ltd • Laservision Limited • SmartBuyGlasses Optical Group • Yellow Earth Australia Business Excellence Award for Construction, Infrastructure and Natural Resources • Bridestowe Estate • Goodman Asia • Greater Group Pty Ltd • Marshall Day Acoustics Pty Ltd • MadePartners Limited • Sino Gas and Energy Holdings Limited Business Excellence Award for Education and Training Sponsored by Australian Trade Commission • CPA Australia • University of Wollongong • SMS Management and Technology Asia

Accepting the award, Nott said she was overwhelmed.

“It’s a wonderful honour. I was really shocked and surprised. It’s fantastic! I want this award to be an annual award. There’s so many interesting, fascinating, inspiring women and men doing so much work for supporting Australian women in business in Greater China that I hope this is the first of many awards,” Nott said.

Recognition Award for Great Individual Impact on the Australia China Bilateral Relationship This year, the Award for Great Individual Impact on the Australian China Bilateral Relationship goes to Seven Group Holdings Executive Chairman, Kerry Stokes. On behalf of Mr Stokes, Kennis Chu of Australian Chinese Capital Investment received the award from AustCham Shanghai Chairman Peter Arkell and AustCham Hong Kong Chairman Professor Richard Petty. Sponsored by Waratah Group

Business Excellence Award for Services Sponsored by China Southern Airlines • Argyle Hotel Group Australia • Computershare Hong Kong Investor Services Limited • Greater Group Pty Ltd • King & Wood Mallesons • Royal District Nursing Services • Transtar International Freight Business Excellence Award for Start-up Enterprises Sponsored by CPA Australia • Bon App! • MadePartners Limited • Zenda Green Energy Company Limited Business Excellence Award for Sustainability and Social Impact Sponsored by CLP Holdings Limited • ANZ Global Services and Operations (Chengdu)Company Limited • Blackmores Limited • Bridestowe Estate • Goodman Asia • SmartBuyGlasses Optical Group People’s Choice Award for Advancement of Women in Business • Michelle Garnaut • Susan Heffernan • Fiona Nott issue 174 | austcham news

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ACBA 2015: On the Scene 1

1. Finalists of Advancement of Women in Business Awards, Michelle Garnaut, Susan Heffernan and Fiona Nott. 2. Robert McRostie of Laservision Ltd and Paul Belcher of MadePartners Ltd. 3. Benson Hu, Ivy Sun and Karen Zhang of Blackmores Ltd. 4. Britney Lam and Grenville Thynne of Macquarie Group Ltd with Taliessin Reaburn of Australian Trade Commission. 5. Australian Consul-General Mr Paul Tighe, The Chief Executive of HKSAR Mr C.Y. Leung, Australian Ambassador to China Ms Frances Adamson and AustCham Chairman Professor Richard Petty. 6. Doron Kalinko of SmartBuyGlass Optical Group and Steve Harris of ANZ Global Services and Operations (Chengdu) Ltd. 7. Iain Crossing of Inspirational Workplaces and Bala Swaminathan of Westpac. 8. Christine Cheung and Patrick Cheung of Royal District Nursing Services. 9. Stella Wang and Michael Boddington of Asian Agribusiness Recruitment, Training & Development. 10. Suzanne and Tony Ambrosino of Australian Consulate-General with Carmen Tam of Tourism Australia.

12 • austcham news | issue 174 172

11. Matthew Liu and Elaine Liu of Yellow Earth Australia. 12. Xiao Xuecheng of China Southern Airlines and Judge of ACBA 2015 Bina Gupta. 13. Leila Hibri of Helen Kaminski and James Ravens of Bridestowe Estate. 14. AustCham Deputy-Chairman Tom Corkhill and Kenneth Chen of CPA Australia. 15. Kenny Zhang (left) and Matthew Zhang (right) of Waratah Group, Australian Ambassador to China Ms Frances Adamson, LegCo Member Mrs Regina Ip and AustCham Chairman Professor Richard Petty. 16. Craig Carlyon and Al Fullerton of Zenda Green Energy. 17. Lydia Bai and John Harley of Sino Gas & Energy. 18. Eddy Cheuk and Ruby Li of Flight Centre Travel Group with Teresa Poon. 19. Peter Weiley of Advisian Ltd, Robby Nimmo and AustCham Board Director Andrew Macintosh. 20. Max Durack and Ryan Arrowsmith of Greater Group Asia Ltd. 21. Rochelle Bargo, Alasdair Ong of Australian International School and Anni Moyal of MCI.

The evening begins with a cocktail reception, welcoming all the finalists and guests. 4

issue 174 | austcham news

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AustCham Westpac Australia-China Business Awards 2015 THANK YOU TO THANK YOU TO OUR SPONSORS Congratulations to all of this year’s Finalists OUR SPONSORS THANK YOU TO OURforSPONSORS AustCham thanks the following key partners their significant support

NAMING RIGHTS SPONSORS

THANK YOU TONAMING RIGHTS SPONSORS OUR SPONSORS

Title sponsor:

NAMING RIGHTS SPONSORS

Award category AWARDsponsors: CATEGORY SPONSORS

AWARD CATEGORY SPONSORS

SEE NEXT IN BEIJING

AWARD CATEGORY SPONSORS AWARD CATEGORY SPONSORS

SUPPORTING PARTNERS

Supporting partners: SUPPORTING PARTNERS SUPPORTING PARTNERS SUPPORTING PARTNERS

REFRESH EVERY EMPLOYEE

at wholesale prices with “the brandwerk Office Drinks Program”

ross@brandwerkmarketing.com t: 9302 0022

14 • austcham news | issue 174

Th fo Au ho

China Focus

China Australia the way ahead

or many of us here today we grew up with an image of China as a large, strife torn, poverty stricken country. It was not until the fall of the Soviet Empire and the exposure of its economic model as a utopian fraud, that the market oriented Deng Xiao Ping was able to embark on his historic Southern Tour, just across the border from here. Shortly thereafter the modern China burst upon the world and set about implementing the greatest social welfare transformation in human history, so far lifting almost 500 million people out of poverty. Its economy has gone from strength to strength, under generally very astute economic leadership. But what we sometimes forget is that, prior to the 19th century, for most of the last two millennia, China had been the world's largest and most advanced economy. So it should be no surprise that China should see its astounding recent ascension as a reversion to the norm. It is also not surprising that China should seek to do what rapidly growing economic powers do - expand its trading opportunities and its geo-political influence. It has been apparent for a long time that China has been keen to assume a key role in the community of nations. When it joined the WTO in 2001 it sent a clear signal to the rest of the world that it was prepared to join the international trading community and to play by the rules of the game. It also realised that forced compliance with the global competition regime provided a unique opportunity to modernise its outmoded, sometimes non-existent, corporate governance arrangements, and to transform its trading entities into modern, efficient and competitive enterprises. The growth rate of the Chinese economy has seen it surpass all but the US, yet it still holds a now minuscule 3.8% voting share in the IMF, lower than France, Germany, Japan and the UK. This pales into insignificance alongside the share held by the US, whose 16.7% constitutes an effective veto power over major changes in the Fund's structures and activities. The relativities are very similar at the World Bank. International Monetary Fund & World Bank The IMF recognised years ago that the global balance of economic power was rapidly changing, and moved accordingly. Its 2010 reforms, which would sharply increase the IMF's overall financial resources, are urgently needed to accommodate capital intensive rescues in countries such as Greece, Ireland and the Ukraine. But, as big nations and market leaders tend to do, the US was never going to stand idly by in the competition for global leadership, if not supremacy. This has led to a defensive Congress, where protectionist elements are always at work, seeking to block in UN forums the expansion of Chinese influence and voting power,

Keynote speaker for ACBA 2015, Hon. Richard Alston AO

commensurate with its rapidly expanding economy. Yet, despite the US President being in support from the outset, Congress has repeatedly refused to ratify the changes. In addition, the major EU countries, anxious to preserve their now inflated voting positions, have been happy to hide behind the skirts of the US, to the detriment of emerging nations such as China, Brazil and India. But even if the changes come to pass, China's voting share will only rise to 6.1%, making it the third largest member. So China has finally lost patience with this intransigence and decided to pursue its own initiatives. China's timing has been impeccable. It sensed that the IMF and World Bank were increasingly on the nose with a number of emerging economies. At the same time it realised that the ADB, the body chosen to fund development projects in its own backyard, was seriously underfunded to meet its own assessment of the region's needs, thus creating a glaring gap which China was only too willing to fill. It saw US global power to be on the wane, or at least its willingness to exercise it. It saw other aspiring major players chaffing at US intransigence and open to alternative arrangements. The resulting package of the AIIB, the One Belt One Road initiative and the Silk Road Fund were not so much inspired by a desire to compete with the IMF and the WB, as by a desire to make a new start and provide some competition to meet rapidly growing demand. In recent years China has embarked on a significant number of very large scale proposals that could make it the world's largest lender for development projects. In addition to the AIIB it will be the lead funder to the $40b Silk Road Fund and the $100b BRICS Development Bank. Asian Infrastructure Investment Bank With people flocking to cities all over Asia, the need for a new dedicated source of infrastructure funding is obvious - the ADB estimates that some $8.3t worth of infrastructure beyond existing financing capabilities will be required to 2020 - well beyond its capacity. The AIIB, will now have initial capital of at least issue 174 | austcham news

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China Focus

$100b, double that previously envisaged, and will be in direct competition with the ADB, its nearest equivalent, with capital of $150b. China will have the biggest capital quota, probably about 25%, followed by India, Russia, Germany and Australia. Chinese loans are likely to offer more flexibility than those of other lenders, although not on "concessional terms". In some cases it allows loans to be repaid in commodities, which may provide an important lifeline for countries otherwise unable to secure finance from the World Bank or the ADB. The ADB, a US and Japanese regional version of the World Bank, was established in 1966 and headquartered in Manila, while China was preoccupied with the Cultural Revolution. Despite China's subsequent meteoric rise, it still holds only one fifth of the combined US-Japan voting share and each of the Bank's nine presidents has been Japanese. The new infrastructure bank provides China with a key role in determining the direction of assistance. Other nations who come on board will undoubtedly also seek to gain trade benefits for themselves. However China is already a global construction heavyweight, over the last decade being by far the largest builder of infrastructure in the world, with an immense capacity to produce steel and concrete. So it will certainly be in pole position to win many contracts on the merits. Indeed experts predict that it is likely to be the legitimate lowest bidder on most projects in the region. It also offers opportunities to become involved below the radar in a way that direct investment and finance do not. If it is able to fund worthwhile projects in line with local needs, the Bank and its principal promoter will gain deserved diplomatic kudos. As with the World Bank, incoming capital could be channelled into projects that could be carefully and more independently scrutinised, and competed for by member countries. Assistance provided through a new multilateral institution such as the AIIB is also likely to have a better chance of smoothing over issues such as local interests, environmental concerns,, population displacement, and corruption, all of which can build considerable resentment and a political backlash against an individual direct donor. The recent Chinese commitment to Pakistan to put $46b into energy and transport projects dwarfs the "paltry" $13b lent by the ADB across the entire region last year. President Xi has also recently agreed to lend billions of dollars to Russia and Belarus for infrastructure projects. This should be enough to generate shivers of fear at the ADB, where long lead times for project design and procurement, allied with complex business processes, typify the gold standard model of de facto monopoly providers. Despite a solemn commitment to "best practice", its policies more often reflect the views and interests of Western shareholders than those of borrowers. A China-inspired AIIB is likely to insist on faster, cheaper and more customer oriented outcomes. China is already the world leader, ahead of the US, in infrastructure financing and its proven expertise should be a considerable first mover advantage. With a marked slowdown in internal growth and international demand for its products, China has now reached the point of massive excess capacity in the construction and materials industries, at a time when there is an equally massive infrastructure spending deficit - a perfect time for China to move to fill the gap.

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57 nations have now expressed a willingness to sign up for the new Bank, including all the big customers of the existing financial institutions - and why wouldn't they want another option? It now contains every single member of the East Asia Summit, bar the US and Japan. Australia, along with some other nations, has expressed concerns about control and governance issues but so far the Chinese have moved to allay these concerns. It will be important to avoid the institutional malaise prevalent in many UN institutions, where merit rarely beats geography in staffing and key decision making. Already China has given a general assurance that it will not have a veto power, but as it will provide half the capital, it will clearly be a powerful influence. The Australian Government, amongst others, is keen to see the highest standards of governance, accountability and transparency, with merit based and competitive selection processes. It has also expressed particular concern for minority shareholders' interests and a need to ensure that the Directors have authority over key investment decisions. Currency Convertibility China's carefully crafted financial services reforms and the gradual opening up to international governance norms are likely to be the platform for an expansion of renminbi convertibility, China is committed to expanding the scope and scale of bilateral currency swaps and settlements with other countries along the Belt and Road. In addition it is keen to establish a Shanghai Cooperation Council financing institution and promote multilateral financial cooperation in the form of syndicated loans and bank credit. Chinese institutions and companies will be encouraged to issue bonds in both renminbi and foreign currencies and use these funds in countries along the Belt and Road. China will become a large net exporter of capital, while its large reserves should enable it to withstand any shocks to the financial system. Being in the driving seat in a new financial organisation can also provide invaluable operational experience, and greatly facilitate the internationalisation of the Chinese currency. More broadly, China has been establishing a raft of experimental financial institutions which it hopes will become viable alternatives to those which have underpinned US monetary hegemony. The new Contingency Reserve Arrangement is a BRICS mini IMF while the New Development Bank (BRICS) will mimic the World Bank. Both will be based in Shanghai, rather than Washington. If China is able to demonstrate that it can supply a well regulated, smoothly functioning, arms length monetary bloc, it will be another important step forward in promoting the renminbi as a serious international reserve currency, and a key plank in buttressing both physical and financial global markets. One Belt, One Road China is also providing $62b from its $4t reserves to kick start its "One Belt, One Road" initiative, a visionary project which extends beyond current horizons, but will undoubtedly involve major infrastructure projects. While it is as yet little more than a glint in China's eye, it is an important blueprint for building towards geopolitical hegemony. It

Europe Europe

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aims to reach more than 4b people in over 65 countries - a massive ambition. Already President Xi Jinping has made the program a centrepiece of both his foreign policy and his domestic economic strategy, aligning it with his "China Dream" of national rejuvenation. It is squarely aimed at soaking up China's excess industrial capacity, while fast tracking progress in China's relatively undeveloped western and southern regions, in an effort to contain ethnic unrest and provide large scale employment opportunities. Securing offshore energy deals will help to ensure unimpeded supplies, as energy demand continues to rise. It also serves China's foreign policy goals by deepening relationships with its neighbours. Initially billed as a network of infrastructure projects, Belt and Road has now expanded to include financial integration promoting the renminbi, standardised and linked trade facilities, free trade zones and people-to-people cultural education programs. Such a wide ranging agenda will have a significant impact on patterns of regional trade, with strategic implications for other key regional players, including Japan, India, Russia and the US. The "Belt" encompasses a planned network of overland road and rail routes, oil and LNG pipelines and other infrastructure projects, stretching through Central Asia and deep into Europe. The oddly named "Road" is its maritime equivalent,and will complement China's growing naval power abroad with a network of ports and other coastal infrastructure, "sailing" from the South China Sea, the Indian Ocean, the Red Sea through to the Mediterranean. As China will continue to rely heavily on open sea routes to import bulk raw materials and to export manufactured goods, it will be very conscious of the nexus between control of shipping lanes and global power. Sea dominance by Britain in the 19th century and the US in the 20th provide object lessons in the importance of controlling one's trade destiny. The Straits of Hormuz, the Straits of Malacca and the East and South China Seas are all crucial modern day potential chokepoints, demonstrating the ongoing importance of freedom of maritime access. The $40b Silk Road Fund will provide development funds for the New Silk Road and the Maritime Silk Road. These are somewhat loose descriptors, as the MSR will be closely involved in the speedy construction of a modern standard-gauge overland rail link between the Kenyan capital Nairobi and coastal Mombasa. The proposed China-Pakistan Economic Corridor is similarly an extension to the proposed Silk Road. The Fund would also open

protected access to the raw materials of landlocked Central Asian countries by building critical infrastructure such as roads, railways, pipelines and secure port outlets. These "bricks and mortar" installations are also likely to ensure closer integration with other landlocked Asian countries and, via shortened sea-land routes, even the Arabian Gulf. In addition, it will create "an information silk road" linking technology networks. These strategic initiatives are designed to increase investments and foster collaboration along the historic Silk Road route as well as being geopolitical exercises in minimising the risks of blocked sea transportation. But they will need to take account of regional competition and rivalries, such as Russia's efforts to create a Eurasian Union and India's Connect Central Asia policies. China-Australia Free Trade Agreement Like many other countries, China has also come to realise that bilateral FTAs have greater potential to maximise trading opportunities than long espoused, but much delayed, multilateral proposals. After the success of the 2003 $25b Guangdong LNG project it saw Australia as the ideal partner to demonstrate to the world its willingness to pursue open trading policies. It had already signed and implemented a successful FTA with New Zealand, and was now ready to sign up with a major economic power while at the same time exploring FTA opportunities with a number of its neighbours. I don't need to tell you how important trade with China is to Australia's future - it's already almost a quarter of our total trade and 33% of our exports go to China. Under the landmark FTA signed late last year, 95% of Australian goods exports will enter China duty free on full completion of the agreement. China is already our largest agricultural export market and we will benefit considerably by the elimination of tariffs on meat, dairy and wine. Nearly all of Australia's resources, energy and manufacturing exports will be duty free within four years. In return Australia will lift the screening threshold for private Chinese investments in nonsensitive areas and progressively deepen existing commitments and expand market access. The signing of the FTA has been described by Australia's key big business body, Business Council of Australia as "a transformative moment for the Australian economy." The services sector now accounts for about 80% of our GDP and China is already Australia's largest services market. The financial, professional, agricultural, food and the tourism and hospitality sectors in particular will be major beneficiaries. Under the Agreement Australia has secured the best ever market access on services provided to a foreign country. As I have tried to demonstrate, China's raft of proposed new internationally oriented institutions have the potential to revolutionise the existing global economic and development architecture, with very positive advantages for many developing nations and regional partners, especially Australia, as well as enhancing China's increasing global stature. Whatever the ultimate success of these multifarious initiatives, it is clear that the Chinese dragon is on the march, a heady mixture of both economic heft and global ambition. It will inevitably provoke a, hopefully constructive, response from its neighbours, although history suggests it may not always be a smooth ride. issue 174 | austcham news

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Chamber’s Voice Platinum Patrons Cocktail was held earlier at the Australian Residence, in welcoming the newest Platinum Patrons as well as meeting The Australian Consul-General Mr. Paul Tighe and AustCham’s board members.

Chamber’s Voice – AustCham represents the views, values and interests of Members to government departments, private thinktanks, and other leading organisations in Hong Kong, Macau and Australia. The Chamber is an active member of the International Business Committee which meets regularly with the Chief Secretary and other senior Hong Kong Government officials.

Making the Most of Your Mentor Relationship

ponsored by ANZ and hosted by Minter Ellison, attendees from the AustCham Mentor program, ANZ and Minter Ellison listened as mentors and protégés from the last two years sat down as a panel to discuss how they made the most of their mentor/protégé relationships.

at the end of the current meeting. All mentioned that the benefits of the program included networking, learning about different industries, and most of all acquiring new friends. Each mentor confirmed they still meet with their protégés from the previous years; a testament to the power of making connections.

Thanks to protégés Rugger Moretto, Tracey Read and Eloise Fardon, and mentors Michael Madigan, Siru Heino, David Fitzgerald and Emily Tang (not pictured) for their insights. All four of the mentors are among the more than 12 mentors returning for a second or third year of participation in the program.

The next Mentor Event is entitled “The Art of Networking and Preparing Your Elevator Speech”. Patrick Eng of Connect Communication will guide the group through networking etiquette and an interactive exchange of elevator pitches.

Keys to a successful partnership? Building a trusting relationship, meeting regularly with purpose, and setting up the next meeting

Program sponsor:

Award winner Congratulations to AustCham member and mentor, Madeleine Price. Madeleine was selected as a BNY Mellon April 2015 Diversity and Inclusion Champion. Diversity and Inclusion Champions “…lead the way in supporting a work environment that appreciates and celebrates our differences…” Madeleine launched the Women Leaders speaker series and led the creation and rollout of the Hong Kong WIN mentoring program. Madeleine Price is also the co-chair of AustCham People Forum.

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- Mary Barbara Hanna, AustCham Mentor Program Manager

THE POWER OF CONNECTIONS WINNER

2015 AUSTCHAM WESTPAC AUSTRALIA – CHINA BUSINESS AWARDS1 As one of the top 50 modern universities in the world,2 the University of Wollongong has also enjoyed great success when collaborating with both educational institutions and industry in the Greater China region. The recognition from the recent Westpac Australia – China Business Awards1 confirms that UOW is well regarded as a trusted partner that contributes significantly to higher education in both regions.

PARTNERSHIP HIGHLIGHTS BAOSTEEL

Active partners in the Baosteel-Australia Joint Research and Development Centre.

SOLAR DECATHLON CHINA

Partnering with Beihang University to win the world’s biggest energy competition in 2013.

CCCU

Stewardship and governance of the Community College of City University in Hong Kong.

ZHENGZHOU UNIVERSITY

11-year teaching partnership that has fostered more than 2,000 graduates.

MTR HONG KONG

Educating MTR staff through our Master of Engineering Asset Management.

To learn more about UOW’s international partnerships, visit uow.edu.au/international

1. Winner – AustCham Westpac Australia-China Business Awards – Business Excellence Awards for Educations & Training 2. 26th in the world – QS Top 50 Under 50 Rankings 2014 CRICOS00102E

Committee in Actions

AustCham Young Executives: Winning the Deal

he AYE Committee hosted its 10th CEO Forum – "DealmakersNegotiation and 'Winning the Deal' in APAC" with Ben Way, CEO of Macquarie Group Asia and Fergus Smith, Partner of Herbert Smith Freehills sharing some fascinating insights into the complex and subtle art of cross border negotiation and deal-making. Ben recounted many interesting examples from his professional experience as well as the innovative negotiating techniques employed by his teenage daughter. He emphasised the importance of heading into a negotiation with the right mindset and of not underestimating the person sitting across the table. He also explored different cultural approaches to confrontation. In some situations venue made a difference: robust discussions took place in more casual environments such as on a golf day or even in a sauna.

pronouncing the terms proved a challenge in itself. Fergus also discussed his concept of "enlightened ignorance" acknowledging that inevitably you will not know everything about another culture and mistakes could be made. In general, he advised owning up to mistakes and being honest with clients to build trust and a positive reputation in the market. The AYE committee would like to thank Ben and Fergus for their time as well as Herbert Smith Freehills for being our long term supporting partner of the CEO Series.

- Kate Dunstan, Clifford Chance

Ultimately, Ben encouraged attendees to find their own style of negotiation noting that the most successful negotiator is often not the aggressive "alpha" personality who seeks to win every point but rather the party who adopts a calm demeanour conceding on certain issues to emerge with a favourable result overall. Fergus Smith then offered his perspective as a lawyer in the deal execution process. He outlined a scenario familiar to many young executives where he described the terror of being sent in to negotiations as a junior lawyer and also described his first foray into Islamic Finance where

People Forum: The Future of Flexible Workplace

he Future of the Flexible Workplace event was held on 5 June 2015, presented by the AustCham People Forum.

The event was attended by over 50 people and held at CBRE in Exchange Square. The panel discussion provided participants with the insights of workplace flexibility and looked at ways of building a flexible workplace to maximise organisational effectiveness and employee engagement. The always-on, always-working mindset has caught on over the last decades, largely due to the rise of technology and the demand for more flexible workplaces. The panelists talked about what’s driving that demand, how the environment in which people work affects how productive they are, the policies, technology and mindset required to make this happen, and the panelists own views on the future of the flexible workplace. They discussed real life examples of how workplace flexibility solutions had been successfully implemented for their clients and their own organisations from talent management, facilities, real estate, IT support and executive leadership perspectives. Thanks to the People Forum for organising this event, with special thanks to Caness Chan and the team for making it happen.

- Madeleine Price, Co-Chair of AustCham People Forum 20 • austcham news | issue 174

Moderator: Trish Meecham, Director, Talent and Development of Talent Gap Florence Ng, Senior Manager, Actuarial Services of EY Ling Chan, Head of IT Services (Global Enterprise Services – International) of Telstra Corporation Lisa Cameron, Director, Asia Workplace Strategy of CBRE Rebecca Lucas, General Manager (HR Mergers, Acquisitions & Integration) of Telstra Corporation Madeleine Price, Head of HR Business Partner of BNY Mellon

Women in Business Network

AustCham’s Newest Network Gains Momentum

The AustCham Women in Business Network has been on a roll since launching in January this year. With a focus on knowledge exchange, networking and training, the goal of the network is

to meet the professional and personal development needs of women members while facilitating corporate member engagement in diversity and inclusion initiatives, all the while promoting recruitment and retention of new members. We are delighted that global recruitment firm Ambition were the first to offer their support to the network in the form of an official sponsorship alongside Aesop, a long-time AustCham supporter. In the first half of 2015 we have hosted four events featuring leading Australian executives based in Hong Kong. In May, a panel discussion for three women finalists in the 22nd Australia-China Business Awards, People’s Choice Award for the Advancement of Women in Business was held. Discussing ‘Pathways to Success for Women in Greater China’, Amy Ho of Ambition, Lynne Barry of Telstra and Susie Quirk of KPMG, shared their experiences in building successful teams, leading by example and creating environments for staff to excel. Moderated by Andrew Whitford of Westpac, the lunchtime event was very well received by the 40 participants. In June, Kimberley Cole of Thomson Reuters shared the highs and lows of her 25-year career over breakfast with an enthusiastic audience of 30 women and men. Moderated by John Dawson of Artemis Communications, Kimberley offered insights into building personal brand and ‘asking for what you want’ while emphasising the necessity to stay true to yourself while navigating an international career. There are a number of initiatives in the pipeline for the second half of 2015, including networking drinks and women in construction, property and infrastructure panel event. We welcome your input and support in making this new network a success so please let us know if you would like to get involved. Contact: caness.chan@auscham.com.hk

Network sponsor:

- By Simone Wheeler, Head of Communications, CLSA Ltd issue 174 | austcham news

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Macau Business Network

Macau-Australia Relations Briefing The Australian Ambassador to China, HE Ms Frances Adamson, briefed expatriates in Macau about the current situation of Macau including the China-Australia Free Trade Agreement and Australiaâ&#x20AC;&#x2122;s relations with China & Macau.

AustCham Chief Executive Drew Waters, Ambassador Ms Frances Adamson and Liviano Lacchia of Galaxy (right) presented the lucky draw prize to winner Joseph Michael Said.

Michael Usher of Vialux and Ronald Yam of CPA Australia.

Macau Business Network steering committee members with Ambassador Ms Frances Adamson.

Professor Lin Zhijun, Deborah Leung of CPA Australia and Professor Thomas Choi.

Jerry John of Banyan Tree and Nic Butler.

Following the briefing, the quarterly Macau Mingler was held at the Belon of Banyan Tree Macau. A big thank you to our Macau Mingler sponsor:

Jeffrey Chan of CPA Australia, Daniela Gracia of a.hartrodt Hong Kong Ltd., Ivan Au of CPA Australia and Catherine Samaras of Melco Crown.

Nathan Tuck, of Aristocrat Manuela May with Luis Pereira of Asia Gaming Brief.

22 â&#x20AC;˘ austcham news | issue 174

Luiz Pedruco and Australian Consul-General Paul Tighe.

Michelle Chan of CPA Australia and Carmen Lei of Deloitte.

AustCham in Macau

A Michael Usher, Macau Business Network steering committee Chair and Susanni Aryanto, Acting Senior Manager of IPIM External Cooperation Department.

ustCham Macau Business Network steering committee met with the Macau Trade and Investment Promotion Institute (IPIM) and exchanged recent initiatives of the two organisations. IPIM has developed a number of services in external economic co-operation, development of business and trade service platform, fostering moderate economic diversification as well as assisting SMEs development. We would like to express our sincere gratitude to IPIM in supporting AustCham and connecting our members to the Macau SAR Government and community.

AustCham Membership eC

ard

In June, Nihao Global has offered AustCham

members a discount on their business services, including: • Free of charge – one document translation up to 300 words • 10% discount on one 8-hour day interpretation service in China (excluding simultaneous interpretation) with 7 days prior notice of booking • 10% discount on the first translation for invoiced amounts over USD1,000 Visit www.nihaoglobal.com or email services@nihaoglobal.com for more information *Terms and condition apply. * This offer is valid to 31 December 2015.

out Watch July r for ou ! offer

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: tommy@myoztax.com issue 174 | austcham news

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Corporate Feature News

s Australia’s leading natural health brand for over 80 years, Blackmores improves peoples’ lives by delivering the world’s best natural health solutions, to become peoples’ first choice in healthcare. Blackmores was first setup in Hong Kong & Taiwan over 20 years ago, then established the Wholly Foreign Owned Enterprise (WFOE) in China in 2012 and also subsidiary in Shanghai Free Trade Zone in 2014 after in-depth research of the Health Supplement market in China and various meetings with leading business and government health organisations in China.

as a strong presence in all leading ecommerce retailers including flagship stores on TMall, JD.com and YiHaoDan etc.

Blackmores also successfully utilised local social media platforms THE POWER OF and recruited over 120,000+ members to enhance the overall CONNECTIONS wellbeing of Chinese consumers by introducing the philosophy of Natural Health to China.

In April 2015, Blackmores announced a new partnership with China legend and female world champion tennis player Li Na. The 2015 AUSTCHAM WESTPAC 1 legendary tennis icon will join the Blackmores family in the role of AUSTRALIA – CHINA BUSINESS AWARDS Blackmores successfully managed to fulfill the ever increasing brand ambassador and will support Blackmores across Asia and Chinese consumer demand for Australian high quality health Australia. Blackmores and Li Na are both passionate about health As onefinished of the top 50 Blackmores modern universities in the world, the supplements by formulating and importing University of Wollongong has also enjoyed great success and when collaborating withas bothwell educational and wellbeing, making the partnership a natural synergistic one. products to various channels including Online, Offline as institutions industry in the Greater China region. The recognition from TV shopping. Blackmores has successfully builtWestpac up distribution the recent Australia – China Business Awards confirms that UOW is well regarded as a trusted partner that over 3,000 outlets across various channels including Health and contributes significantly to higher education in both regions. Beauty stores, pharmacies, cosmetic shops and groceries, as well WINNER

PARTNERSHIP HIGHLIGHTS

University of Wollongong (UOW) BAOSTEEL

Active partners in the Baosteel-Australia Joint Research and Development Centre.

DECATHLON ver 40 years, UOW has become SOLAR a benchmark forCHINA Partnering with Beihang University to win the world’s biggest energy competition in 2013. Australia’s new generation of universities. CCCU

It has have built a reputation asStewardship an enterprising and governance of the Community College of City University in Hong Kong. institution with a multi-disciplinary approach to research, ZHENGZHOU underpinned by strong industry partnerships and aUNIVERSITY personalised 11-year teaching partnership that has fostered more than 2,000 graduates. approach to teaching. MTR HONG KONG

It is globally ranked in the top two per cent of MTR universities in the Educating staff through our Master of Engineering Asset Management. world1 and for the eighth year in a row, employers have ranked UOW graduates in the top 100 universities in the world 2.

This year, UOW was awarded a Business Excellence Award for Education and Training in the AustCham Westpac AustraliaChina Business Awards, which recognised it’s long-term collaborations with leading universities, research organisations and industry bodies in Greater China. With 33,000 students around the world and 2,700 staff in Australia, UOW’s activities generate around $2 billion in economic activity annually in its region, making it a major economic force in Australia and increasingly across its global teaching locations.

UOW has a strong international focus To with the flourishing UOW learn more about UOW’s international partnerships, visit uow.edu.au/international in Dubai, which marked its 20th anniversary in 2013. It also has a long history of successful transnational education delivery in Singapore, Malaysia, China (including Hong Kong) and Thailand. 1. Winner – AustCham Westpac Australia-China Business Awards – Business Excellence Awards for Educations & Training 2. 26th in the world – QS Top 50 Under 50 Rankings 2014 CRICOS00102E

1 283rd in the world – QS World University Rankings 2014/15, 282nd in the world – The Times Higher Education World University Rankings 2014/2015 2 QS World University Rankings Graduate Employers survey 2014/2015.

AustCham Platinum Patrons

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Corporate Profile

PwC 22/F, Prince’s Building, Central Hong Kong www.pwc.com

PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 157 countries with more than 195,000 people who are committed to delivering quality in assurance, tax and advisory services. What are the main skills of your job? They probably boil down to two main areas: dealing with people, ie clients and staff; and, being technically competent, ie knowing international auditing and accounting standards. What’s the most unusual thing you have had to do as part of your job? A few things come to mind: travel in a cage about 2 km underground to inspect a zinc mine in Australia; give evidence in court as a witness for the prosecution in a case against my firm; and, spent the night sleeping on the floor of a house owned by a client whose premises were cut off by snow. What does your company do really well? I think we strive for technical excellence in our field. We are one of the biggest firms in Hong Kong and try to lead by example. How would you describe your workplace and colleagues? The workplace is very diligent and the staff all work very hard and long hours. Having said that, there is still a lot of fun to be had and there is a strong sense of collegiality amongst the partners.

Brian Hunter Partner, Assurance

What’s something most people don’t know about your company? In Hong Kong and China, we have 500 partners and over 12,000 people, in offices in 20 cities. What’s your company’s connection to Australia? There's no direct connection other than the Hong Kong/China firm is in the same territory cluster as the Australian firm, but we have a number of partners and staff seconded between the two countries. What’s your favourite place to go on the weekend? Sailing with friends and stopping in at Lamma or Po Toi for seafood lunch. What’s your favourite place to eat lunch? Dot Cod - it's close, the food is good and being a Hong Kong Cricket Club member entitles me to a 30% discount! PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

o enquire about advertising, submit an article, comment or respond to austcham news, please contact Karen Wu at karen.wu@austcham.com.hk or call +852 2522 5054. issue 174 | austcham news

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Corporate News

Business as usual: Top result for Macquarie University duo

ustCham Chairman Professor Richard Petty wears many hats – he sits on a number of Boards including CPA Australia, Ambition and the International Federation of Accountants (IFAC) and is also a Professor in Management and Executive Director International at Macquarie Graduate School of Management. Wearing his academic hat, Professor Petty and Macquarie University’s Professor James Guthrie recently received more than 1000 citations on their peer reviewed research paper Intellectual Capital: Measurement, reporting and management.

Science Citation Index that covers the sciences, social sciences, arts and humanities and conference proceedings, and found only 14,499 papers published since 1900 had more than 1000 citations. Professor Petty said “I think we identified a gap in the research at the right time, and our work was of interest to researchers and to policy makers because of its real-world application for business and for regulators and standard-setters”. Looking ahead, the two are working together in the field of Transnational Regulation.

To put this into perspective, a study published in Nature investigated citations across 58 million items in the

On The Scene

Sean Pepper of Tor Investment Management, AYE Committee Co-Chair Alex Oxford and Jeanne Wang of Austrade.

Catherine Dai of Austrade and Simon Ho of Financial Express.

Brigitte McNamara of Australian International School and Ross Smith of Shenton Ltd.

Hosted by AustCham Young Executive (AYE) Committee, the May Mix at Six was held at Divino Patio & Restaurant in Wanchai.

Geneva Holden of Li & Fung Trading, AustCham Business Development Manager Jason Quinn and Terry Ambler.

AustCham Chairman Professor Richard Petty, Loryda Erasmus and Katie Sampson (right) of Flight Centre and Martin Copp of Artlink Design.

26 • austcham news | issue 174

More coverage can be found on our online photo album: www.flickr.com/photos/austchamhongkong

AustCham Chief Executive Drew Waters and AYE Committee Co-Chair Alex Oxford with lucky draw winner Michael Madigan.

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 kkcho@kkchoco.com.hk

Jeff Hiew of event sponsor Commonwealth Private (Asia) and Sokhonna Pich of JP Morgan.

John Kingsbury of Love That Lifestyle Ltd and Daniel Vovil of Swiss Asia Asset Management HK.

Guest speaker Andy Ji, Director of FX Strategy & International Economics at Commonwealth Bank.

Davin Grikis of JP Morgan and Gautam Dev of Eastspring Investment.

Scott Park of Prudential and Henry Chan of Commonwealth Bank.

Australian Property Market Update evening session was held earlier at Club Lusitano. The session provided unique overview of the Australian housing market and the factors that will play a key role in its performance in 2015 and beyond.

Brenda Sawyer with Peter Hoslin of Hong Kong Tourism Board.

Maaike Steinebach of Commonwealth Bank and Carey Jack of ProConSol HK Ltd.

Angus Walker and Kurtis Gann with Cynthia Ho of CLSA.

Guest speaker Tim Lawless, Australiaâ&#x20AC;&#x2122;s National Research Director of CoreLogic.

Edison Li of Shinhan Bank and Teresa Tam of Primasia.

Bill Castellas of event sponsor Commonwealth Private (Asia) welcomes all.

issue 174 | austcham news

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