THE ITALIANCHAM MAGAZINE VOL. 7 by icchkmacao

ISSUE NO.7

italiancham MAGAZINE

THE IMPACT OF AN OUTBREAK COVID-19 Explained by Businesses BUSINESS FOCUS

COVER STORY

SURVEY RESULTS

Economic outlook for Asia Pacific

The big migration to online learnings and the future of work after COVID-19

How the COVID-19 has affected the Hong Kong business

YOUR CHOICE 470 lawyers 11 offices worldwide 20 specialist practice areas 7 desks dedicated to specific geographical regions

gop.it

Contents President’s Memo

Business Focus

Survey Results

Imperfect Cuisine

Cover Story

Art, Cultures and More

Italian Chats

Members Spotlight

New Members Listing

Our Services

What’s On Hong Kong

What’s On Macao

52 Publisher The Italian Chamber of Commerce in Hong Kong e Macao 19/F, 168 Queen’s Road Central, Hong Kong Tel +852 2521 8837 email icc@icc.org.hk www.icc.org.hk Designer Michela Compagnoni Editorial Team Maria Teresa Brusco Silvia N’Guessan Federico Patelli

LUCA CICO President of The Italian Chamber of Commerce in Hong Kong and Macao

Presidentâ&#x20AC;&#x2122;s memo 4

Dear Members and Friends, Our hearts are filled with empathy for all the people affected by COVID-19, their loved ones, and most especially for our Country, Italy, which is facing the worst crisis of the last 50 years. It has been and still is a very challenging time: our beloved Hong Kong experienced first the instability brought by the social turmoil, now the COVID-19 situation and the myriad of questions caused by its far-reaching and unexpected implications and ramifications. There is still much unknown about this virus and its possible treatments, but the health risk is as real as the significant impact on all your business, as shown by the Chamberâ&#x20AC;&#x2122;s recent survey. We and all the world around us are filled with uncertainty: the magnitude of long-term economic consequences is unknown, the stock markets plummet, and there are daily news of newly taken mitigating actions implemented by governments, global and local institutions. Now is time to share and learn from each other, to draw strength from our community, to work together in defining how to prepare our organizations not only to safely sail through the storm but to be ready to jump-start when better times will come. On this note, our 7th issue of the Italiancham Magazine provides some insights as well as some reassurance and guidance hints. Our is just a humble start: to emerge stronger than before, please reach out to us and your peers so we can work together as a team. Thank you!

Chamberâ&#x20AC;&#x2122;s Patrons 2020

DONATE NOW

Help ITALY face the COVID-19 emergency. Italy is now facing a hard time fighting the COVID-19. As the pandemic worsens, it is crucial during this challenging situation to show our closeness to the community and respond with concrete actions. The Italian Chamber of Commerce in Hong Kong and Macao is supporting the Consulate General of Italy in Hong Kong in providing the equipment which is needed to face the emergency. More specifically, the Italian Health Institutions are looking for pulmonary ventilation systems, FFP2, FFP3, N95 and surgical masks and the machineries for the production of such equipment. If you are able to provide us with the equipment listed above or have the details of any relevant suppliers, please contact Mr. Luca Querin at luca.querin@esteri.it or call +852 2522 7167. Thank you so much for your time and consideration. We look forward to your support in fighting this battle.

OPTIONS FOR DONATIONS Name Of Bank Account: CONTO CORRENTE DI TESORERIA 22330 PRESIDENZA DEL CONSIGLIO DEI MINISTRI, DIPARTIMENTO DELLA PROTEZIONE CIVILE CF 97018720587 IBAN: IT 49 J 01000 03245 350200022330 Payment Reference: COVID19 BIC: BITA IT RR ENT Purpose of Donation The Italian Civil Protection Department, in collaboration with the Ministry of Health, is collecting donations to enhance the intensive care units in Italian hospitals.

Name Of Bank Account: ASSOCIAZIONE DELLA CROCE ROSSA ITALIANA IBAN: IT 93 H 02008 03284 000105889169 PayPal or Credit Card donation: donazione.cri.it/donazioni/dona-per-emergenzacoronavirus Purpose of Donation The Italian Red Cross, in collaboration with the Ministry of Health and with the Civil Protection Department, is working to boost the safety measures on ambulances by ensuring the biocontainment of the virus while carrying patiens to hospital. Moreover, your donation will help buy kits, materials and instruments useful to fight the spread of the virus.

BUS I N ESS FOC U S

Global Market Outlook and Economic Forecasts 2020 By Wen Han Choy, Julius Bär

p until the early part of January, it seemed as if the strong positive

importance of ESG (environmental, social and governance) criteria in

market momentum from 2019 would continue into 2020.

global investors’ allocation policies will also be a key factor in keeping

Benign interest rate policy worldwide as well as good corporate

valuations low in the sector.

results for 4Q 2019 (especially for US companies) were key factors that

For fixed income, massive deleveraging has brought on a strong correction

were supposed to extend the strong 2019 bull-market for risk assets.

in bond prices across the credit quality spectrum. The yields are starting

As we all know, the coronavirus and its spread on the international level has

to look very interesting for distressed debt hunters, but it is probably

put a spanner in the works. The ongoing events are of course a human tragedy

early to take an aggressive approach. Do not catch a falling knife while

as well as being economically painful. The coronavirus, initially perceived

the deleveraging and “cash-is-king” sell-off process is still going on. A

as a transitory shock, has turned out to be a very profound shock to the

“barbell” strategy of safe haven assets (such as US government bonds) +

real economy. It is forcing the authorities all over the world to increase and

investment grade issuers (whose bonds have corrected 10-20%) allow for

expand stimulus measures. So while we are seeing unprecedented financial

diversification with more than decent yield return at the same time.

market selloff, we are also seeing unprecedented government support -

Speaking about other safe haven assets, an international investor would

monetary, fiscal and unorthodox macro policy such as “helicopter money”

always do no harm in considering some exposure to the US dollar (still the

(printing and distributing cash to citizens and companies).

undisputed global reserve currency as recent events show), the Swiss franc as well as gold.

Economic data and earnings have been and will be distorted by the epidemic crisis. Fundamental data signals are now blurred for the first

The current financial market turmoil places many investors in the position

half and potentially the whole of 2020. Markets have essentially started

of facing difficult losses. Nonetheless, it would be prudent to stay the course

to price in a global recession. Until we see virus infection rates taper off

and to ensure that the portfolio is focused on quality assets that would

sustainably across key jurisdictions around the world, it is likely financial

rebound in a sustainable manner when this crisis blows over. Getting in and

market volatility will continue wildly. We cannot predict how far the

out without long term perspectives will only hurt returns especially we will

current correction will go and we certainly did not expect the strong

be selling at a significant “fear discount” currently which doesn’t match the

financial market turmoil that has occurred during the month of March.

fundamental value of most investments. Savers who have high cash levels

It has essentially been a “black swan” event. All that said, history does

should start making out a list of investments to make and perhaps start to

show us that virtually all major virus outbreaks that resulted in tangible

nibble at the market. It is highly advisable to tranche out investments over

equity market corrections have been attractive entry points for long-term

a period of time given the uncertainties in the months ahead.

investors. We do not believe this time to be different.

As a final note, regardless of current and upcoming risks, investors would

On the equity side, we favour the healthcare sector and it should form

do well to remember that disciplined strategic asset allocation while staying

part of any long-term equity allocation. Within healthcare, we particularly

in the market are the key factors for longer-term positive returns and

favour medical technology and life science tools companies. We also

sustainable wealth generation.

continue to favour staying invested in the technology sector as the sector leaders continue to generate growing amounts of free cash flow with low capital-intensity business models. Much has been said of this sector’s valuations, but they now trade at reasonable valuations based on both earnings growth as well as the more critical metric of free cash flow production. Lastly, we favour global REITs (real estate investment trusts) Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. Julius Baer is present in over 25 countries and more than 60 locations.

as the low interest rate environment will continue to support valuations. Corrections in hospitality-focused REITs will present opportunities to pick up bargains as the global business/leisure travel industry recovers over time. On a cautious note, it is perhaps still early to aggressively build exposure to

juliusbaer.com

the oil/gas sector (despite their very attractive dividends) due to the shortterm demand shock and supply surplus. In the longer term, the growing 8

B USI N ESS FOCU S

Hong Kong Budget 2020-21 Highlights By Stephen Phillips, InvestHK

he Financial Secretary delivered his budget speech on 26 February

(h) reducing rental by 50 per cent for another six months for eligible

2020. Hong Kong and the global economy are all facing enormous

tenants of government properties, government land and EcoPark.

challenges due to the novel coronavirus. Having regard to the

stimulus effect of the fiscal measures, he forecasted that the economy will

(i) reducing rental and fees by 50 per cent for another six months for

grow by -1.5 per cent to 0.5 per cent in real terms in 2020.

eligible operators of properties covered by short-term waivers.

In view of the tough economic environment, the Government will adopt

(j) providing hirers of civic centres under the Leisure and Cultural Services

an expansionary fiscal stance and make optimal use of its fiscal reserves to

Department with a 50 per cent reduction of hire charges for another six

implement counter-cyclical measures to provide assistance to enterprises.

months.

New relief measures include:

Furthermore, there is an additional funding of over $700 million for the

(a) introducing a concessionary low-interest loan, under which 100%

Hong Kong Tourism Board to step up external promotion after the epidemic

guarantee will be provided by the Government. The application period will

$150 million will be granted to the Hong Kong Trade Development Council

last for six months. The maximum amount of loan for eligible enterprises

to assist enterprises in exploring business opportunities. In addition, the

is based on their salary and rental expenditures for six months, subject to

Anti-epidemic Fund has also set aside resources to provide subsidies to

a ceiling of $2 million. The repayment period is up to three years and, on

enterprises for attending conferences and exhibitions and subsidize the

an opt-in basis, a principal moratorium is available for the first six months

conferences and exhibitions to be held at the Hong Kong Convention and

during which only interest payments have to be made.

Exhibition Centre and the Asia World-Expo.

(b) reducing profits tax for the year of assessment 2019/20 by 100 per cent,

Despite the difficulties in recent months, in the medium term, the economic

subject to a ceiling of $20,000.

outlook of Hong Kong remains positive. The development of China and Asia will continue to be the key driving force of global growth. Given the

huge market potential of the Mainland as well as the opportunities brought

21, subject to a ceiling of $5,000 per quarter in the first two quarters and

by the Belt and Road Initiative and the development of Guangdong-Hong

a ceiling of $1,500 per quarter in the remaining two quarters for each

Kong-Macao Greater Bay Area, Hong Kong can surely leverage its strengths,

rateable non-domestic property.

grasp the opportunities and explore greater room for development.

(d) waiving the business registration fees for 2020-21. (e) waiving the registration fees for annual returns charged by the Companies Registry for two years. Moreover, the Government will continue to implement the following

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customized services for overseas and Mainland companies.

measures announced since last year: (f ) providing a subsidy to each eligible non-domestic household accounts for four extra months to cover 75 per cent of their monthly billed electricity charges, subject to a monthly cap of $5,000 per account.

(g) waiving 75 per cent of water and sewage charges payable by noninvesthk.gov.hk

domestic households for four extra months, subject to a monthly cap of $20,000 and $12,500 respectively per household.

BUS I N ESS FOC U S

COVID-19 Impact on Global Supply Chains By Justinas Liuima, Senior Consultant at Euromonitor International

hinese and multinational companies are starting to feel disruption

Overall, car manufacturers in China could reduce their production output

in their supply chains as coronavirus continues to spread; the

by 15% during the first quarter of 2020. In response, automotive suppliers

Chinese government extends the shutdown of factories and

such as Bosch, Magna International and Nvidia also plan to scale down

businesses, and airlines cancel air routes in and out of the country.

production volumes. Moreover, car sales in China are predicted to suffer as consumers feel less confident. The Chinese new car market was predicted to

Production disruptions would largely affect household goods, hi-tech

decline by 2% in 2020, although the losses are likely to be more extensive due

goods and textile industries where China plays a core role in the global

to ongoing uncertainty and the dent in the profit margins of car companies.

supply chain. Production disruptions in these industries would have an adverse effect on the global supply chain as companies would struggle to find alternative suppliers.

Chart 1. China’s production share in selected industries, 2018 Source: Euromonitor International from national statistics

Chart 2. Car Sales in China, 2015-2020 (Forecast) Hi-tech goods is likely to be one of the most-affected industries as

Source: Euromonitor International from trade sources/national statistics

China remains the world’s largest producer and exporter. A number of multinational companies have already been affected. For example, Apple

Besides manufacturers, air transport is also expected to feel the impact

shortened working hours in its stores across China and issued a warning

as large carriers, including British Airways and Lufthansa, stopped their

that supply chain disruption might also affect operations in other countries.

flights to China. Cancellation of air routes to China may also have an

China remains the largest manufacturer of iPhones, thus factory closures

adverse effect on global supply chains. Air transport remains among the

could hurt Apple’s plans to increase smartphone production.

key transportation modes for fragile, perishable or high-value goods

Automotive is another sector which is likely to be adversely affected. For

which require quick delivery. Disruption of air travel would largely

example, Volkswagen Group, one of the largest players in China, asked

impact chemical products, pharmaceuticals, hi-tech goods and machinery

3,500 of its employees in Beijing to work from home for two weeks. BMW,

industries. The final impact is currently difficult to quantify as the crisis is

Tesla and Jaguar Land Rover also announced that the virus outbreak

only beginning to unfold. However, if the air travel bans remain prolonged,

might hinder their everyday operations in China. As an indirect effect,

businesses in both China and abroad might start feeling the shortage of

car companies would also suffer from reduced production output in hi-

goods such as pharmaceuticals, as accumulated stocks deplete.

tech goods, plastics and chemical goods industries, which are among the industry’s core suppliers.

B USI N ESS FOCU S

Chart 3. Largest B2B Buyers of Air Transport Services in 9 Largest Economies, 2018 Source: Euromonitor International from national statistics

Note: demand value includes aggregated data from Brazil, China, France, Germany, India, Japan, Russia, United Kingdom and the US Overall, the coronavirus outbreak has already impacted global manufacturing and transportation industries. The impact on manufacturing industries could be compared to the outbreak of SARS virus back in 2003 when transportation, medical and hi-tech goods industries were disrupted. However, since then, the global supply chain has evolved and China’s role in global industry increased, thus the final impact on industries will depend largely on companies’ capabilities to find alternative suppliers and the success of governments across the world to contain the virus outbreak.

Note*: Demand value includes aggregated data from Brazil, China, France, Germany, India, Japan, Russia, United Kingdom and the U

Euromonitor International is a global market research company providing strategic intelligence on industries, companies, economies and consumers around the world. Comprehensive international coverage and insights across consumer goods, business-to-business and service industries make our research an essential resource for businesses of all sizes. Bridging methodologies based on data science and on-the-ground research, we distill strategic and tactical data through flexible solutions, giving real-world context for business decisions. Euromonitor International’s Hong Kong subsidiary is the company’s 14th office worldwide, which manages business in Hong Kong, Macao and Taiwan and leverages on-the-ground analysis with actionable data and insights in the region. euromonitor.com

BUS I N ESS FOC U S

Employment issues in the spotlight during turbulent times By

Shirley Fu, Partner, SF Lawyers in association with KPMG Law Alex Ma, Senior Associate, SF Lawyers in association with KPMG Law Paula Yu, Senior Partner, M&A and Corporate

o matter the business model, geographical location or type of

3. Requiring uncooperative employees to work from home may not be

service or product on offer, one of the greatest assets of any

enforceable unless otherwise provided for in the contract

organisation are its people. People are the core of innovation,

culture, solutions and reputation. In turbulent times, business continuance

Changes to secondment arrangements

is the main objective, with the safety of people as the top priority. Businesses

Secondment arrangements are often implemented to cater for temporary

will need the support of their human resources and finance teams to

assignments. In an epidemic or other crisis, employers or secondees may

identify where their people are and where they need to be to ensure safety

wish to make changes to their secondment arrangements to ensure the

and enable business continuity. Once that is secured, thoughts need to

health and safety of the secondee.

turn to managing costs to protect the business and preserve jobs through

Please note that most secondments involve laws of at least two jurisdictions

challenging economic times ahead.

(i.e., the home and host jurisdictions). Care must be taken to ensure compliance with both jurisdictions in cases where the secondee wishes to return to their home location.

Remote and alternative working arrangements Remote working arrangements are often necessary during times such as an

Mainland China legal considerations

epidemic. During these times, it may not be considered safe for employees

1. If the secondment is to be terminated, the termination clause in the

to travel to and from the office. Technologies such as email, Virtual Private

secondment agreement should be followed. In many cases, the terms of a

Networks and cloud computing can enable employees to continue servicing

termination initiated by an employer may be different than one initiated by

clients and keep operations running smoothly.

the employee. If the termination clause does not set out post-termination

For industries where remote working arrangements may not be suitable for

responsibilities (such as rental and repatriation costs) clearly, the parties

some employees, alternative working arrangements such as flexible working

should seek to negotiate and resolve these issues in the form of a settlement

hours and shift work can be put in place to protect workers.

agreement 2. If the request for repatriation comes from multiple secondees, care must

Mainland China legal considerations

be taken to avoid discrimination. In mainland China, five categories of

1. Employers (and responsible persons) remain liable for workplace safety.

employment discrimination are recognised, including gender, ethnicity,

Employers should ensure they have taken appropriate steps and have

disability, individuals with infectious diseases, and rural migrants.

adopted relevant policies and procedures to safeguard their workforce

3. Deregistration of relevant work permits must be carried out in the event

2. Employees continue to be entitled to overtime pay if they work overtime.

the secondee intends to leave permanently

Also be mindful of the maximum overtime hours employees may lawfully be required to work

Hong Kong SAR legal considerations

3. Special care must be taken to ensure confidentiality of information while

1. Points 1 and 2 of the above considerations for mainland China are also

employees work remotely Robust confidentiality policies and guidelines

applicable to the Hong Kong SAR. Recognised discrimination categories

should be in place

are as follows: sex, marital status, pregnancy, disability, family status and

4. Employers continue to be liable to vicarious liability for any wrong

race

committed by its employees

2. If the secondee leaves Hong Kong permanently, there are reporting and potentially tax withholding requirements that employers must follow

Hong Kong SAR legal considerations 1. Points 1, 3 and 4 of the above legal considerations for mainland China

Initiation of unpaid or part-paid leave

are also applicable to the Hong Kong SAR

One possible way of reducing costs during turbulent times is to put staff on

2. The threshold for employee compensation claims is very low. In the event

unpaid or part-paid leave. If used appropriately, employers can reduce costs

an employee is injured while on a remote or alternative arrangement, the

while eliminating the need for termination and sourcing for talent once the

employer will most likely be liable

market picks up again.

B USI N ESS FOCU S

Mainland China legal considerations

Deferral of employment and/or payments

1. Unpaid/part-paid leave are not types of leave recognised in mainland

During turbulent times, employers generally stop expanding their

China. They may therefore only be utilised if agreed by the employee (see

workforce. However, in cases where an offer or contract has already

points 3 and 4 below). Unilaterally imposing unpaid or part-paid leave on

been made, the employer may have no choice but to defer the start of

employees can lead to serious legal consequences

employment for new joiners. In addition, employers facing difficult times

2. Be mindful to avoid discrimination when choosing employees to go

may have no choice but to defer payment of wages. However, as can be

on leave. Please refer to the above mentioned recognised discrimination

seen below, deferral of employment/payment is not necessarily straight

categories

forward and carries risk.

3. In some cases, even if the employee agrees to take part-paid/unpaid leave, that agreement may not be enforceable if taken to court

Mainland China legal considerations

4. It must be borne in mind that part-paid/unpaid leave is not widely used

1. Most offer letters contain a commencement date. Once such offer letter

and unfamiliar to many employees

is signed by both parties, it will be extremely difficult for the employer to

5. In the event an employee is willing to take part-paid/unpaid leave, all

defer the commencement of employment. Unilaterally imposing a deferral

correspondence should be documented and the parties should enter into

may result in a claim by the employee

an agreement to avoid disputes

2. Late payment of wages is a violation of labour laws. Employees may be entitled to unilaterally terminate the employment contract as a result of

Hong Kong SAR legal considerations

late payment of wages

1. When choosing employees to take part-paid/unpaid leave, the employer

3. Even if employees ultimately agree to late payment of wages, this does

should take care to avoid discrimination. Please refer to the previously

not absolve the liability of the employer

mentioned recognised discrimination categories 2. Hong Kong has a history of employers offering part-paid/unpaid leave.

Hong Kong SAR legal considerations

The arrangement should be set out in a contract to avoid disputes

1. Point 2 the above legal considerations for mainland China is also

3. If employees are forced into part-paid/unpaid leave, employees may

applicable to the Hong Kong SAR

sue the employer for breach of employment contract and/or constructive

2. Deferral of employment in Hong Kong is quite common during difficult

dismissal

times. However, employees are free to reject the request for deferral of employment. 3. If employees agree to late payment of wages, the parties should enter into an agreement to avoid future potential disputes Layoffs and termination of employees As a last resort, employers may consider layoffs and termination of employees. This is generally not a recommended option due to the

KPMG China is based in 23 offices across 21 cities with around 12,000 partners and staff in Beijing, Changsha, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Nanjing, Qingdao, Shanghai, Shenyang, Shenzhen, Tianjin, Wuhan, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our client is located.KPMG is a global network of professional services firms providing Audit, Tax and Advisory services.

implications it may have on the rest of the business. From an employee

We operate in 147 countries and territories and have more than 219,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in mainland China. KPMG was also the first among the Big Four in mainland China to convert from a joint venture to a special general partnership, as of 1 August 2012.

1. An epidemic or other factors leading to downturn of business is not a

Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multi-disciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.

4. Just because an employee is on probation, it does not mean the employer

relations perspective, it also hurts morale and creates uncertainties for those who remain. This is also not an easy option from an employment law perspective, as can be seen below. Mainland China legal considerations reason for layoffs and termination 2. Mass layoffs require prior notice to the Labour Bureau, and opinions of the Labour Bureau must be duly considered 3. Terminations generally must be with cause. Wrongly dismissing an employee may result in the employee being reinstated or severance payments to be made can freely terminate the employee. Reason(s) must be provided as to why the employee does not pass probation

kpmg.com

BUS I N ESS FOC U S

Hong Kong SAR legal considerations 1. Termination of employees must be carried out in accordance with the termination clause in the employment contract 2. For senior employees, always enter into settlement agreements to avoid disputes. Disputes usually surround enforceability of restrictive covenants 3. While employers may terminate employees without cause, employers need to be mindful of unlawful terminations 4. Severance payments may be payable for qualifying employees who are made redundant. Employers cannot avoid payment of severance payment by labelling a redundancy as termination without cause Employment solutions should always be catered as there is “no one size fits all” solution. Designing solutions must take into consideration all relevant legal, employee relations, tax and immigration issues to ensure an optimal and compliant outcome. Above all, businesses are reminded to always seek professional assistance and not to make any rash decisions to avoid unnecessary disputes and/or legal consequences.

Source: SF Lawyers, a Hong Kong law firm which provides legal services is in association with KPMG Law. Both SF Lawyers and KPMG Law are member firms of the KPMG network of independent member firms affiliated with “KPMG International”, a Swiss entity. 上海睿威律師事務所, a Shanghai law firm which is an independent law firm operating in PRC and which belongs to the KPMG global legal network.

Great Frame #GreatTechnology

visotticacomotec.com

SURV EY RE S U LT S

How the COVID-19 has affected Hong Kong Business The Italian Chamber of Commerce conducted a survey to understand the COVID-19’s impact on our members’ business.

Data collected from February 14th to February 21st, 2020

SURVEY R ESU LTS

The Italian Chamber of Commerce has conducted a survey to understand the COVID-19’s impact on our Members’ business. The questions were shared amongst the entire Members’ base, limiting the responses to only one person per company in order to ensure a clearer and more consistent data collection. The timespan used ranged from February 14 to February 21 and the questions asked were aiming at assessing the impact of the outbreak from different perspectives, taking into consideration the business activities of the same period of 2019, but also looking into the opinions and expectations of the community towards the near future and in the longer-term as well. The responses were then collected, analyzed and published anonymously on the Chamber’s website, making it available to the entire business community. At the same time, one of the main goals of the survey was understanding the crucial operational areas the COVID-19 is affecting and will deeply impact in the upcoming months. This was hence intended to proactively receive suggestions, feedbacks and inputs from our Members for the Chamber to start discussing and putting in place concrete actions of support.

Industry of the participating companies Most of the replies came from companies working in: • Fashion / Textile

• Logistics / Supply Chain

• Food / Drinks / Wine

• Financial Services

• Accountancy / Consultancy

• Others

22% Others

Fashion / Textile

37% 14%

Financial Services

Logistics / Supply Chain

11% 10%

Food / Drinks / Wine

Accountancy / Consultancy

SURV EY RE S U LT S

To what extent is the COVID-19 affecting your business in Hong Kong? Given the broad and wide array of companies in the Chamber’s network, the main goal was assessing the impact of the outbreak on the business in terms of Great, Medium and Low extent. Among those who selected the first two options, an in-depth understanding was given of the four major industries affected and their consequences. This revealed that, maybe without much surprise, the most battered industries are Fashion / Retail and Food & Beverage, comprising of almost 40% of this breakdown.

14%

fashion / textile food / drinks / wine

41%

logistics / supply chain

23%

accountancy / consultancy others

11%

Breakdown per industry of companies who suffer a medium - and great - extent impact due to the COVID-19'

• 91% of the companies reported a ‘Great’ impact on their business, with

Breakdown per major industries

the remaining a ‘Medium’ one Further exploring these results and breaking them down per industry, the responses show that 91% of the companies working in the Food / Drinks /

Fashion / Textile

Wine reported a ‘Great impact’, with the remaining quota a ‘Medium’ one.

• 90% of respondents saw a decrease in traffic and sales, ranging from 35% to over 90%

As far as the Fashion / Textile companies are concerned, the virus had

• 89% of the Members declared this decrease to be of ‘Great extent’

very similar overwhelming effects, reflected in the 89% of the Members suffering an impact of ‘Great extent’ with the remaining splitting almost

Logistics / Supply Chain

equally in the two other categories.

• 100% of respondents saw a decrease, ranging from 30% to 60% • Three quarters of the surveyed companies were hit to a ‘Great extent’,

Moving on to the Logistics / Supply Chain, respondents in that field

and the other part to a ‘Medium’ one

reported a ‘Great’ decrease for the 75%, while the remaining 25% confirmed their business slowed down by a medium intensity.

Accountancy / Consultancy and Financial Services • 78% of respondents indicated a great-extent hit, while the remaining

Similarly to the logistics companies, also those firms working in the

portion being equally divided into the medium and low area of magnitude

Accountancy / Consultancy areas reported a 78% great-extent hit, while

• Regarding the upcoming months, 58% believed the situation will

the remaining portion being equally divided into the medium and low

improve, 21% will get worse

area of magnitude. Food / Drinks / Wine • 100% of respondents saw a decrease in the demand for their products, ranging from 20% to 60%

SURVEY R ESU LTS

Would your company consider relocating its operations to a different location than Hong Kong? Another focal point and key takeaway of the survey was the importance of understanding our Members’ next steps for the future in terms of office

21%

collocation. Given the current outbreak and the major business disruptions occurred in the H2 of 2019, one of the questions often raised was if eventually some companies would have permanently left Hong Kong.

Hence, by posing this query to the network, it was revealed that while the majority (75% of the respondents) was confident in confirming their (or

75%

their Headquarters’) willingness in staying in the SAR, the remaining 25% declared that was either already exploring this option or will have done that in the near future if the situation did not improve. Lastly, in order to gain deeper knowledge in the matter, each respondent was asked to share the major destinations which were or could have been

not at all, too early

considered as alternatives to Hong Kong, either via merging the current office with the regional Headquarter or moving to a completely new

will explore the option

destination, and the top alternatives in terms of answers were:

already explored the option

1.Singapore 2. Mainland China

Members’ responses on the possibility and willingness to relocate the

3. Dubai

office outside Hong Kong

4. Europe 5. Tokyo / Kuala Lumpur / Taiwan (ex aequo)

What should The Italian Chamber be doing to reassure and support

working even more closely with Members will be the duty of the Chamber,

the Italian business community in Hong Kong during this phase?

as well requested and expressed by the respondents. On the other hand, there are also other more concrete actions that have been suggested and

The whole survey serves the purpose of providing the Chamber and the

could be expressed mainly as:

network of companies and individuals with a comprehensive and holistic view of the situation generated in Hong Kong by the outbreak. At the same

• Negotiate with the Italian Government to provide economic support to

time, the Chamber is actively looking into also understanding what the

the Italian businesses operating in Hong Kong and Macao

next concrete steps could be to support the community in these difficult

• A joint-intervention between Chambers of Commerce to support and

moments, and the main working areas identified by the respondents can

pressure the Hong Kong Government in drastically lowering rents

be grouped as follows:

• More reports should be shared via mail given that contact with other businesses is now very reduced

• Creating dedicated working groups by industry (Committees) to share

• Exploiting this crisis as an opportunity to strengthen the cooperation

best practice and common work plans to effectively manage the crisis

between Members

• Going ahead with business as usual as much as possible, with minor changes on the services currently offered to the members

The Chamber has already started following up with the different queries

• More frequent health and information updates

and support requests while keeping our Members updated on news,

• Organizing insightful Crisis Management webinars with industry

important updates and Subsidy Scheme releases and will endeavor to

specialists

continuously support and offer assistance.

• Providing new business services to the members These comments and suggestions highlight how the Chamber’s daily effort to support our Members in a wide array of tasks and situations is well recognized and need to be taken to a higher level so as to step into and be the reliable partner needed. In this sense, proactively listening and

imp erfect c u i s i n e

MANGIAR SANO The Mediterranean Diet By Accademia Italiana della Cucina

ear Imperfect Cuisine Readers,

We wish that this article were a salutation to spring and nature, another celebration of food and togetherness. It is not – for the many reasons known through these very pages and media of sorts. It cannot be, we reckon, while both the country which has welcomed us – Hong Kong – and our motherland – Italy –look for ways to cope with the Corona virus. We acknowledge the seriousness of this situation and decided to share with you a staple of nutritional wisdom, the Mediterranean Diet Pyramid. From the bottom of our heart, Eat well, stay well, do not panic The Hong Kong Delegation of the Italian Academy of Cuisine

The Accademia Italiana della Cucina has been present in Hong Kong since 2012. The Delegation is headed by Mr Savio Pesavento and welcomes new members, individuals who are passionate about food and knowledgeable about Italian cuisine www.facebook.com/accademiaitalianadellacucinahongkong

imper f ec t c uisine

WEEKLY CONSUMPTION

SWEET 2 or less

MEAT 2 or less

COLD CUTS 1 or less

POULTRY 1-2 servings

EGGS 2-4 servings

FISH & SEA FOOD 2 or more servings

LEGUMES 2 or more servings

DAILY CONSUMPTION

NUTS, SEEDS AND OLIVES

HERBS, SPICES, GARLIC, ONION

1-2 servings

MILK AND DAIRY PRODUCTS

OLIVE OIL

preferably low fat 1-2 servings

3-4 servings (10ml per serving)

MAIN MEALS

FRUIT 1 or 2 servings

VEGETABLES 2 or more servings

DRINK WATER 21

PASTA,BREAD, RICE preferably wholegrain 1 or 2 servings

The impact of

an Outbreak COVID-19 Explained by Businesses The COVID-19 outbreak which began in Wuhan, China keeps spreading around the globe at a worrying speed. With the number of cases rising every day, businesses and universities closed, the lack of face masks, borders around the world shutting down, and the global economy turning upside down; it is no wonder everyone is asking questions about the new deadly virus and how to cope with it.

“

The epidemic will pass. When it ends, the market transition will provide a rare opportunity to bring many enterprises to the same starting point while leaving room for further development.” - Ashley Galina Dudarenok

On March 11th, the novel epidemic was officially declared a pandemic by the WHO as the virus has spread all around the globe and many countries have seen the number of cases rising dramatically. Among all of the COVID-19’s severe effects on people and the economy, the impact on work has been inevitable. Postponed, canceled, closed: the use of these words has accompanied the last couple of months, as both local and international companies’ main objective is to take all the possible precautions to protect their employees and contain the virus. Social contact became a risk, and working from home became the norm. Chinese social media played a key role in this situation by providing people with regular, timely updates on the epidemic as well as representing a big platform for donating money and materials to frontline workers and hospitals. There is always a lesson to learn and positive aspects that can be taken from turbolent times. From fashion to retail sectors, have a read at the following pages, to understand how different industries and big companies have readapted their market strategies to survive through this critical historical time.

ch o z a n

What role has chinese social media played during the recent COVID-19 outbreak?

hina’s current COVID-19 outbreak has a lot in common with another health crisis in the country 17 years ago: SARS. However, there’s one important difference. The COVID-19 epidemic is the first national public health crisis in China’s mobile social media era.

For those who haven’t been there, it’s important to note that China is one of the most connected places in the world and people aren’t just active on social media, they depend on it to carry out a variety of daily tasks. Many aspects of daily life are now conducted through the mobile internet and social media is highly integrated with that in a way that it isn’t in many other places. Imagine going on Facebook in the morning and then throughout the day doing things like paying your electricity bill, sending some money to a friend, booking a rail ticket for a trip the following month, buying a snack at a convenience store and then hailing a taxi all through your account. That’s sort of what China’s big social media platforms are like. 24

co v er story

“Alibaba is undoubtedly the company that has reacted best during the epidemic. The company donated 1 billion RMB immediately, and made more than 72 million items of protective materials available on its platforms.” By Ashley Galina Dudarenok Founder of Alarice & ChoZan

hospitals for patients with fevers, coronavirus clusters, locations of

So, how did social media make a difference during this epidemic?

outbreaks in the community and debunked epidemic rumors were also created and updated.

The big platforms cooperated with government and health authorities to spread up-to-date facts and information about the epidemic On January 29th, Weibo cooperated with the China Health Commission

Big platforms donated money and materials to frontline workers and

and other official agencies to host a Q&A live stream to provide

hospitals

authoritative epidemic prevention and control information. There were

By February 17, RED had donated 290,000 items, including 90,000 N95

6.76 million online users watching the live stream and 3.81 million

medical masks, and Bytedance, which owns Douyin and Toutiao, donated

people participated in the answering session.

250 million RMB. By now, almost all large enterprises in China have donated money, materials or services to the effort.

Some platforms established special epidemic information channels Video and live streaming platform Kuaishou, which is particularly popular

The government has increased its leniency for social media at present to

in lower tier cities and rural areas, pinned the term “epidemic focus” in its

allow some room for the media and netizens to discuss the epidemic. One

search box to make it faster and easier for people to find information. It

of social media’s biggest roles right now is giving people a channel to vent

also hosted a live stream showing the construction of Hubei’s Leishenshan

and express themselves in small ways in order to prevent a bigger reaction

Hospital in cooperation with CCTV.

offline and to give an outlet that can help calm people down in the end.

And for students who had to stay home due to widespread school and

However, as happens everywhere when events like this happen, rumours

university closures, it set up a “Study at Home” function to provide live

spread on social media and this outbreak has been no exception. This

streaming courses in cooperation with China’s Ministry of Education,

has included false information such as “Smoking can prevent coronavirus

Tsinghua University, Peking University and more.

infection”, “Fireworks can prevent coronavirus infection” and “Beijing stops all public bus services”. Authorities released announcements to

Provided regular, timely updates on the epidemic situation

debunk most of the false information. This helped keep people calm,

WeChat pinned dynamic epidemic information about how many people

avoid information overload, confusion and prevented the spread of

had been diagnosed, hospitalized, quarantined etc. at the top of its

misinformation.

homepage. At the same time, channels with information about designated 25

The big migration to online learning Students overview

ue to the COVID-19 outbreak in Hong Kong, on-campus classes have been suspended since the Lunar New Year Holiday earlier this year. The semester is half over in the blink of an eye. We have conducted a questionnaire to understand how the class suspension has affected university studentsâ&#x20AC;&#x2122; lives, as well as their opinions on the university arrangement. 51 college students from 10 universities and institutions responded to

the survey.

co v er story

“According to the survey,the average satisfaction rate of online learning in only 5.4 out of 10.” They are currently unable to consult faculty members in person, which

Students’ dissatisfaction towards university arrangements

makes academic enquiries less interactive and simultaneous.

In replacement of on-campus lectures, online teaching measures such as Zoom and Moodle are applied during the suspension. However, it seems

Many students do part-time jobs to support their living expenses.

that students are not pleased with the university arrangement. According

However, the outbreak of the novel COVID-19 has been lowering the

to the survey, the average satisfaction rate of online learning is only 5.4

general consumption rate, which results in a large downsizing of most

out of 10. Most students found it difficult to concentrate when having

of the companies in different sectors, in order to cut cost. With severe

classes at home as there are too many distractions. Others complained

downsizing, many workers are fired and their shifts are reduced, including

that lacking immediate and direct interactions leads to a boring learning

those part-time university students. Therefore, many students have cut

environment. Technical problems like unstable network and sound quality

down their working hours or have not been able to get employed, which

also cause interruptions. “Both the lecturers and students are unfamiliar

makes them worried about supporting their own expenses.

with the online teaching system, which causes a lower efficiency of

In the longer term, fi nal-year students in particular have great concern

learning when we have to spend time tackling the technical problems,” a Science major at Tung Wah College said.

about getting hold of full-time jobs as the unemployment rate increases.

Despite the negative feedback, some students found the online teaching

the novel COVID-19 would affect their job-seeking when they graduate.

systems effective. Learning is more flexible as they can refer back to the

Students normally start job-hunting before the end of the second

recorded online lectures when revising. “Learning on an online platform

semester. Fresh graduates are welcome to corporations in different sectors.

reduced my pressure of study. As online lectures would be recorded and

Nevertheless, facing gloomy and uncertain economic outlook, companies

uploaded to the internet, I can study according to my pace of learning.

may under severe downsizing and shrinking in their organizational scale,

Learning from home also reduces travelling time.” A Business major at the

which greatly poses a great decrease in recruiting fresh graduates.

According to the survey, half of the students think that the outbreak of

City University of Hong Kong found the measure timesaving. Students’ suggestions to the universities

Apart from online teaching, universities have various measures including a full or partial closure of campuses, quarantine and face-mask and hand

We have collected some suggestions from the students for universities

rub delivering, to prevent the possible spread of COVID-19 on-campus.

to improve the current situation concerning the virus. To protect the

Again, the measures are not very appreciated by students. The average

students and staff, it is suggested that the school should disinfect the

satisfaction rate towards school arrangement is 5.6 out of 10. Instead of

campus thoroughly. In addition to that, help from the school side should

shutting down the on-campus facilities, students hope the universities

be more inclusive, for instance, providing financial and emotional aids to

could disinfect the campus and re-open the campus as soon as possible.

students in need. Counselling services should also be provided online. For better communication, the school should also provide more information on the occurring situation about the virus on campus and increase the

Students’ daily life and financial difficulties

transparency of its policies in response to the special arrangements.

With the campus shut down, more than 80% of our interviewees have

Information such as the arrangements for the final exams and grading

found their daily life greatly affected. While students mostly stay at home

of the assignments for this semester should all be included. Students also

to reduce chances to be infected, they claimed that the lack of social

consider that the school should exempt hall fees and refund part of the

life and entertainment makes them “moody” and ‘bored.’ Being unable

tuition fee to the student since they have not been able to use the school’s

to go to the gym or outdoors for sports has also led to inefficiency and

facilities while the office of these facilities still remain billing on students

drowsiness.

for what they have not been able to access.

The outbreak of the novel COVID-19 has also affected students in an

In times of difficulties and uncertainty, mutual support between the

academic setting. Although the majority of local institutions have been

school and students is important. Let show respect towards each other

conducting online teaching practices, many of them told us that online

and contend the virus together.

learning is not engaging as face-to-face teaching as earlier mentioned. 27

ST EFA NO PASS A R E L L O

The Future of Work

he work from home trend started far before the COVID-19 outbreak. With rapid innovation, globalization and demographic shifts, our work environment is no longer what it was once before.

Because of the unexpected outbreak, social contact became a risk, offices were and still are shut down and working from home has become the norm. It wasn’t long ago when one of the challenges of this arrangement was staff reliability and accountability, however companies have had to quickly learn to trust their employees to complete their job duties out of their workplaces. This unexpected experiment caused by the COVID-19 has been so well received by the workers and companies alike that some employers are considering adopting it as a more permanent measure. According to GWA and FlexJobs report back in 2017, the number of remote workers doubled from 2007, with almost 40% of surveyed US employers offering flexible workplace options. Let’s examine what are the pros and cons of this seemingly new, albeit already well-established trend. First, let’s analyze the current workforce: •

Well-educated, with approximately 39% of the workforce holding bachelor’s degree

•

Less unionized, only 11% of employees are union members

•

Includes more “Millennials”, a demographic that highly values workplace flexibility, a perk associated with greater happiness. 28

co v er story

“Location is no longer a limitation.” By Stefano Passarello

PROS

but the completion of the task is entirely your own responsibility as no

Flexible working hours

one is monitoring your progress. Nowadays, there are many tools to help

By implementing flexible working hours, a typical workday will be task-

with work organization, and plenty of quiet co-working spaces with few

based rather than time-based. It allows people to work during their most

distractions.

productive time of day, wear comfortable clothes and create a work

schedule that fits their lives.

Where are we heading next?

Below are a few pointers on what to pay attention to in this changing

Saves time and money

work environment climate:

In a big city like Hong Kong, a work commute commonly takes at least an hour each direction. That is full two hours of missed work! Of course,

- Strong human resources team is a must. HR becomes even more

many people check their work emails and do begin to work during their

important as it is crucial to find workers who are interested and able to

commute, but the productivity is still lower compared to working with no

adequately work from home. Especially when employments are becoming

distractions. Moreover, it is far more economical to work from home as it

shorter - one of the Millennial traits.

eliminates transportation, food and apparel expenses.

- Staff retainment will become an issue. It is important to develop clear

Work-life balance

career development paths to motivate company employees to continue to

The work-life balance is an important topic in our overworked

grow within the company.

population. Working from home leaves room to workout, see friends, or do other pleasurable activities during the standard 9 to 7 office hours.

- Companies will have to invest in technology, constantly updating remote

Consequently, workers become happier, less stressed. It is scientifically

tools and software as collaboration now relies more on video calling and

proven that fitness also improves cognitive performance. Fitter workforce

online messaging platforms rather than face to face interactions.

will also have a more resilient immune system, which in turn will reduce absenteeism. All of this naturally leads to higher productivity.

- Real estate is less important as the need for physical space lessens, and

interest in co-working spaces continues to grow. At Kapuhala Koh Samui,

CONS

many of our guests are “working tourists”, continuing to work for the

No human interaction and collaboration

better part of the day surrounded by nature.

Many people enjoy working with others as working from home can be quite isolating. It’s harder to establish trust and develop relationships with

The number of people working from home is rising at an astonishing

colleagues and clients without daily face-to-face interactions. There are

rate as we slowly unlock the new era of hyper mobility. Location is no

also less opportunities to learn from peers. You will also need to make an

longer a limitation, organizations like Trello, WordPress, Github, Buffer

extra effort to seek out networking and learning opportunities on your

and many more are successfully working remotely. It is proven to be

own.

beneficial for cognitive performance and increased serotonin levels and

renewed enthusiasm. If you work for an employer that requires you to

No switching off and time management

work from home, you have to find a way to create a work environment at

Having a flexible schedule and workplace arrangement comes at a cost.

home that keeps you focused and just as productive as you would working

That extra hour taken to workout or for whatever personal activity during

at an office. If you are self-employed, discipline is key to making sure all

the day may lead to in time to work in the evening outside the “normal”

tasks are done. When possible, bring your computer and try working in

working hours. The usage of quick telecommunications makes it harder

different locations for a renewed sense of accomplishment, it may expose

to shut down and may lead to working overtime.

you to new intellectual stimulus too.

Distractions and self-discipline

The COVID-19 did not change anything, it simply accelerated what was

Working from home requires a different level of self-discipline. There

going to happen anyway.

may be other people around the house causing unwanted distractions, 29

HERE FA S HI ON H U B

Beyond Masks Fashion born in Tough Times

here did you get yout masks? As the expansion of COVID-19 slowed down in China, many industries resumed work after the Spring Festival

holidays. This year, we

are more used to hearing this question instead

of greetings of “Happy new year”. Masks, goggles and disposable gloves became the best sellers. One has to be fully equipped to have the courage to go outside. From Wuhan to Tokyo, Asia to the world, the N95 masks are constantly in shortage. No one affords to underestimate the effects of this pandemic. Wearing masks, apart from becoming a basic common courtesy, has also surfaced as a fashion trend. How did the pandemic change lifestyles? This article will take the perspective of fashion design, and walk you through this insurgent trend born in the tough time. In fact, because of air pollution, climate change and other health issues,

the Berlin Fashion Week, bringing their 20/21 fall/winter collection

masks are already widely used in Asia. In recent years, this trend starts

collaborated with Taiwanese medical supply company CSD. Surgical

to take over Europe and North America, especially in the hip-hop scene.

masks have been interpreted as a fashionable accessory with attitude.

In the USA, fashionable masks are dominated by two companies:

“We want to be the first fashion show in the world to put (medical) masks on

O2Today and Vogmasks.

the runway, and to use them in art installations and graffiti.” As Shih-Shun Huang, founder and designer of #DAMUR, said, “...Many of our designs

Vogmask was founded in 2010 in San Francisco and has become one

are not only fashion creations, but also hope to present a dialogue with social

of the leading players in the mask business. It was designed primarily

labels, encouraging people to think and breakthrough existing frameworks.”

for the audience attending desert festivals but was soon adapted to the environmental and health crisis.

From the later half of January till today, staying home has been considered

Their masks are made of microfiber and organic materials, equipped with

a contribution to combating the COVID-19. This has directly affected

an N99 filter, a carbon filter layer and an exhale valve.

the offline retailers and represented an enormous threat to the fashion

According to Vox, the sales of Vogmask surged to 10 times their normal

industry in China and worldwide.

volume. However, the increased online interactions brought by the homestay wave Under the circumstances of the COVID-19, the sales of O2SafeAir masks

will provide unprecedented opportunities for 5G, VR, live streaming

also soared. All their products are sold out. Apart from being fashionable,

and digital media. The fashion industry has also seized this opportunity,

the O2SafeAir masks also include oil mists and offer pleasant scents,

developing online solutions to complement their offline offers. For

alleviating the uncomfortable suffocating feeling.

example, the Milan Fashion Week, scheduled in February 18th to 24th, held virtual runway shows with coverage in Chinese language to engage

Months ago, the high-end streetwear brand #DAMUR showed up in

those buyers and designers from China who were not be able to travel due 30

co v er story

“Surgical masks have been interpreted as a fashionable accessory with attitude in #DAMUR 20/21 fall/winter collection, in collaboration with Taiwanese medical supply company CSD.” By Elena Raho Founder HERE Fashion Hub

to the COVID-19 – a new way of participation for the absent Chinese

while fast fashion brands such as H&M provided discounts for recycled

brands and audience.

clothing. Today, “Ethical Fashion” standards are applied in the whole supply chain of many other brands.

Meanwhile, the exceptionally long homestay will fuel the demand for

However, the substitute for animal fur – “faux fur”, is composed of nylon,

indoor exercises such as Yoga, Pilates and no-equipment workout. Apart

acrylic and polyester, all derivative of petroleum. Despite that it saves

from preventing holiday weight gain, it helps to strengthen the immune

the animals from being killed, it is not biodegradable, just as plastic,

system and fight off the virus.

and extremely harmful for the ecosystem. To reach the goal of “Ethical Fashion” and minimalize the environmental pollution, developing new

The rise of yogic culture over the last two years has resulted in a 42% increase

sustainable fabrics is especially important.

in the number of yoga-related products sold through the platform. Searches for “yoga leggings” increased by 36% month on month.

The lifelong ecologist designer Stella McCartney, since founding her brand in 2001, has been committed to the development of sustainable

In line with the trend, Adidas teamed up with IKEA to release the

fabrics and protection of the environment, while achieving transparency

first indoor sportswear collection in 2021, combining sport with

in the fashion supply chain.

living spaces and making indoor fitness a fashionable lifestyle. In Stella McCartney’s 2020 Spring/Summer collection, 75% of the “At IKEA we are experts in life at home, we make furniture and solve people’s

materials used are eco-friendly and sustainable. All knitted garments

everyday need. But we are not experts in fitness and sport, and that’s why it

are made of biodegradable and sustainable materials, including organic

makes perfect sense to partner up with Adidas. Together we want to make the

cotton, recycled polyester, sustainable rayon and traceable wool. It

home a more active place.” James Futcher, creative leader at IKEA, declared.

deserves to be described as the most thorough implementation of “Ethical Fashion”.

When fitness becomes a fashionable lifestyle in living spaces, renewable, comfortable materials are especially important. In the following year,

It may seem like an utopian dream to be completely sustainable, but as

indoor activewear will demand more practical, durable and functional

long as apropriate choices are made in the sources and origins of the

fabrics (breathable, quick dry, recycled polyester, etc.).

fashion industry, the environment will suffer less. How fashion brands cope with environmental and social issues remains a question for everyone

The COVID-19 brought a sense of déjà vu as a reminder of the SARS

in the industry to think.

outbreak in 2003. Both epidemics have origins in wild animals. Since the COVID-19 started its deadly rampage, “wild animals” has become the most searched word. People are calling on banning wild animal trading for the benefits of public health, sustainable development, and ecological diversity. For the fashion industry, which had long been criticised for sweatshop and animal cruelty problems, refusing wildlife is not novel. This practice started since luxury brands like Burberry and Gucci went fur-free,

Billie Eilish, Travis Scott and Cardi B wearing masks 31

RE TA I L I N A S I A

Hong Kong Retailers experience same issues and ask landlords to face realities of the current COVID-19 outbreak

co v er story

“Many landlord groups in Macau and China have been quick and very responsive, some giving rent free months. However, this is not the case in Hong Kong.”

large number of retailers are clearly facing the same challenges

Another brand representative said: “during the past 7 months of social

and fearing for the future of their businesses in Hong Kong.

unrest most Hong Kong landlords have not given any help to retailers. Chinese landlords after less than one week, while still on holiday, already

Their request is the same across different categories: Only % turnover

came forward offering different solutions. It is time Hong Kong landlords

rental should be charged by landlords during this new crisis.

adjust their rental requests to reality.” He added: “it is also ironic to ask retailers to stay open when many office staff don’t go to office “.

Coming off the back of seven months of retail downturn due to social unrest, during which retail tenants were given little support from

It is already well known that many retailers have reached out to landlords,

landlords, today’s retail business is showing drops of 70-90% compared

in the past two weeks, but the responses from the landlords are again

to the same period last year.

slow and far from what is needed to stay in business, let alone justify keeping their staff employed. In frustration many retailers will have no

Whilst retailers worry about the long term continuity of their business,

choice but to temporarily close up to 200 stores across the city, impacting

their short term concern will be the protection of their livelihoods and

many of the city’s malls. After this action, several retailers mentioned

those of their employees. Some of these businesses have been in Hong

that landlords had approached them to enquire about the closure and

Kong for many generations, and employ up to 800 people.

engaged in new conversations about rent reductions. As of today, the initial request of only % turnover rental has not been accepted by Hong

Ashley Micklewright, President & CEO, Bluebell Group commented:

Kong landlords. Other media have been reporting about the agreed upon

“The last thing we want to do is to shut down something that took a few

rent reductions, but they are not enough and often only for a limited

decades for our shareholders and three generations to build, let alone lay

number of tenants with revised terms and conditions.

off our employees. However, the last 7 months of losses are becoming unbearable for many of us. The impact on business and traffic is far worse

Whilst this action of temporary store closures sends a clear message, a

than anything we have ever experienced.”

cry for help, the retailers are looking for the landlords to merely face the reality and, ideally, charge rent on turnover only and thereby waving base

Many landlord groups in Macau and China have been quick and very

rent completely, at least until the city goes back to its normal state of

responsive, some giving rent free months. However, this is not the case in

business, schools and the border are reopened.

Hong Kong. Although many landlords in the city were praised last week for their ‘social responsibility’, the reality of the situation is far from that portrayed.

NOTE: The article was published on Retail in Asia in February 2020

Landlords in Hong Kong are still asking to see sales numbers and passing on only small short-term concessions on base rent. As a result many brands are starting to close stores or leave Hong Kong and the occupancy rate in many malls is dangerously going down at the same speed. “As a business owner, our main concern is to protect our team. We are truly hoping that we can find a proper solution (and not a short term patch) to get us out of this situation. If not, a large number of the SMEs will no longer be on the market very soon and large groups will consequently reduce their exposure to Hong Kong. Hence, Hong Kong is about to become another city with ghost malls, which is in no one’s interest. We really are looking forward to working with our business partners to find a viable solution as this is the only possible outcome.” Alan Zagury, Cofounder of the Madame Fashion Group added.

FE RRA RI

How to overcome the outbreak within your company

co v er story

“This is a time for all Hong Kong residents to stand together.” By Filippo Melchionni Chief Operating Officer, Asia Pacific of Ferrari Group

think it is fair to say that it has been a challenging few months for

In terms of the impact this outbreak has had on the luxury operations

Hong Kong. From the protests to the new Coronavirus, 2020 hasn’t

and logistics industry, I am afraid that it has had quite a significant

started out the way we had all hoped. Regardless, this is a time for

consequences. The projections we have for the rest of 2020 are,

all Hong Kong residents to stand together and help each other in any

unfortunately, not great, and in my opinion the market will struggle to

way we can.

recover over the next few months, especially considering that we aren’t

Luckily, Hong Kong has not been hit as hard as other areas in China by

sure at what point the outbreak will reach its peak, but I am optimistic

the Coronavirus outbreak, but we still need to make sure that we take

that once the outbreak is under control, economic recovery will follow

every precaution possible to keep people healthy and safe. In an effort

and our offices can go back to functioning as normal within 3 to 6

to help with the crisis Ferrari has reached out to medical charities and

months. In the meantime, we will continue to work hard and do what

government associations to find out what we can do; I am proud to

we can not only to ensure that our quality of service (remains) up to our

say that we have donated more than 50,000 medical kits, which have

usual standards, but also to put ourselves in the best position possible for

had a significantly impact considering the current surgical mask shortage

economic recovery.

across the city. As a company, we have also been making sure that we are taking all the possible precautions to protect our employees, from offices

I think there is a lot to be said about the resilience of the Hong Kong

to warehouses, which include approximately 1200 people between Hong

people in this difficult time. The majority of Hong Kong residents will

Kong and China. We are taking the burden of all medical expenses off our

remember the SARS outbreak of 2003, which hit Hong Kong very hard,

employees and encouraging them to build medical kits to be used at the

but having gone through an outbreak like this before, we know that Hong

office and at home. These procedures are hugely important in making sure

Kong has the infrastructure and the resources to deal with this kind of

that our employees feel safe and comfortable in their work environments;

crisis. The atmosphere in Hong Kong at the moment is one of panic, but

this will continue to be one of our highest priorities whilst the outbreak is

if we look at the situation with some perspective, I am confident that

ongoing. We are also very lucky to have such good working relationships

Hong Kongers will band together and that our city, even if it might take

with our clients, who are eager to work with us to find solutions to the

a while, will recover.

current roadblocks we are facing and continue to be as productive as possible.

ART, CULT U R E S A N D M OR E

Do you like music, art, theatre? Are you interested in conferences, talks and seminars about design, art, and culture? Then don’t miss the opportunity to attend our events! The Italian Cultural Institute is the official Italian governmental body dedicated to bringing to Hong Kong and Macao a great selection of events throughout the year.

By The Italian Cultural Institute

A little bit about us

What we do

The Italian Cultural Institute in Hong Kong (ICI) is part of a network

Our mission is organizing cultural events with a focus on art, music,

of over 80 Italian Cultural Institutes worldwide. Alongside the Italian

cinema, literature, theatre, dance, fashion, design, photography, and

Cultural Institutes in Beijing and Shanghai, we are one of the three

architecture.

cultural agencies of the Italian Ministry of Foreign Affairs in China. Our Institute has been active since 2011 as the official Italian governmental

ICI facilitates initiatives that promote Italian language and culture,

body dedicated to promoting Italian language and culture in Hong Kong

including collaborations with Italian scholars at local universities;

and Macao. To this end, ICI organizes concerts, exhibitions, screenings,

encourages scientific collaborations between Italy, Hong Kong, and

readings, and other cultural events; ICI also encourages cultural and

Macao.

scientific collaboration between Italy, Hong Kong and Macao. Italian Cultural Institutes around the world are places for encounter

In addition to this, ICI establishes contacts with institutions, bodies,

and dialogue for intellectuals, artists, Italians living abroad and anyone

and personalities in the local arts and scientific communities to

wishing to cultivate a relationship with our country. The Institutes’

promote projects that further the knowledge of Italian life and culture;

purpose is to promote the image of Italy and its culture, both classic and

facilitates an intercultural dialogue founded on democratic principles.

contemporary.

ART, C ULTUR ES AN D MORE

Which kind of events do we organize? For film lovers

For performing arts lovers

ICI organizes yearly film festivals like the acclaimed Cine Italiano! -

ICI presents an active programme of outstanding and imaginative

Cinema Italian Style in Hong Kong and Hong Kong Salento International

performances and festivals across all art forms: from music to dance, to

Film Festival. We have a big surprise event planned for this year... Stay

theatre and opera.

tuned!

For art lovers

Would you like to keep informed of the events we organize?

ICI organizes a series of exhibitions that display the works of great Italian artists, talks and conferences with experts, and shows.

Subscribe to our newsletter! We will periodically send you information about our events, bringing the best of Italian culture to Hong Kong and Macao.

How to subscribe to our newsletter? Register here: https://tinyurl.com/vdyzekt Check our website: www.iichongkong.esteri.it Follow us on your favourite social media: Instagram, Facebook or Twitter or subscribe to our Youtube channel to see some of our live events that you missed.

To learn more about upcoming Italian events you may contact: Italian Cultural Institute, c/o Consulate General of Italy Hong Kong Suite 3201, 32/F Central Plaza 18, Harbour Road, Wanchai - Hong Kong www.iichongkong.esteri.it | iichongkong@esteri.it

ita li a n ch at s

Smart working essentials’ dictionary By Dante Alighieri Society

et’s admit it: Italians do not particularly enjoy smart working.

charger might be the easiest thing on earth, but not for you. Ho poca

Maybe it is because working from home is still seen by some as

batteria implies that you are in the middle of the Sahara desert and you

not working at all. Or maybe because it is seen as a reward that

really cannot find any power source nearby. Add some “Mi dispiace, sono

only boss’ pets are allowed to have.

mortificato…” (I am sorry, deeply sorry) after that, and you can finally enjoy your lazy evening!

Fact is that smart working is a great thing under many aspects and, sometimes, it is the only option we have to keep working. Even if sometimes it can be really annoying to be woken up at 11 am by your boss asking that paper you were supposed to hand in since two days… Anyway, here’s our top 5 to make the best out of your current or future smart working sessions!

Sto entrando in galleria / metropolitana / ascensore... I am about to enter a tunnel/a tube train/a lift…

Ho poca batteria…

Along the same lines of Ho poca batteria… here comes sto entrando

Battery is running low…

is exactly the same, this one may be a bit trickier to use. The reason is

in galleria/in metropolitana/in ascensore…. Even though the function simple: while ho poca batteria relies completely on your acting skills, sto entrando in galleria/metropolitana/ascensore definitely needs

Situation: it’s 8 pm, and you are already working OT to finish that report

some kind of “environment control”. You definitely cannot use a sto

your boss has been waiting for ages to receive. You have just pressed the

entrando in galleria while having a drink with friends: voices in the

“send” button and you are ready to close your laptop and plop down on

background could blow your cover.

the sofa. Then your phone starts ringing: BOSS. You have two options:

So use it wisely: this is one of the most powerful and flexible expressions

pick up the phone, hoping no last minute changes are on the way or just

you can find but, as we all know, from a great power comes a great

let it ring.

responsibility.

Here is where the power of ho poca batteria kicks in! Pick up the phone, wait for a couple of minutes (you can think about what to cook in the meanwhile) and then, while retreiving your primary school final day actor skills, just sigh and say those 3 magic words. Finding a phone 38

ITALIAN CHATS

Ho una call, non posso… I have a conference call, I cannot…

Have you ever thought that smart-working could be a perfect excuse not to do something you hate in the real world?? Well, you should start considering it another arrow in your quiver! You forgot you promised to go shopping with your girlfriend? Your boyfriend cannot wait to watch the football match with you? Ho una call importante is definitely the anwer you were looking for. It also gives you that aura of internationalism (thanks to the English “call”) and engagement to boost your self-esteem and consideration among other people! It doesn’t matter if that call is with your mom about how to properly wash your dirty clothes: the use of “call” already elevates it into a conversation

Ti sento ma non ti vedo!

between heads of state.

I can hear you, but I cannot see you!

Not a big deal…I mean, the message still goes through, right? Well, if you think so, I am afraid you are not taking the issue under an Italian point of view! For Italians (as you might have already experienced) hand gestures or simply facial expressions are FUNDAMENTAL to communicate. And “online” communications make absolutely no difference. Just think of phone calls: we are pretty sure that at least once you have seen Italians on their phone. It is exactly like if they were speaking directly to the other person, right? So, imagine taking away from that guy the possibility of actually see all this nuance of gestures…would you be that evil??

Ci riaggiorniamo più tardi… I will give you an update later…

Even in the English version, you can already feel that sense of “I will never hear from this person again”. That’s exactly why this expression was born at the very beginning. It is more or less when after a job interwiev the HR manager tells you “Le faremo sapere” (We’ll let you know): there is still some hope, even if deep inside you know that you will have to go back looking around. Same thing happens with ci riaggiorniamo più tardi: if the person talking with you uses this, try lowering the effect of that expression using “ci conto” (I trust you). Your counterpart will definitely feel a bit bad to let you hanging there without any response for months. It’s not a win-win, but at least it will give you some satisfaction.

For info on how to improve your Italian or learn it from scratch, you may contact: DANTE ALIGHIERI SOCIETY 1/F Honest Building, 9-11 Leighton Road, Causeway Bay, Hong Kong ladante.cc | dantealighieri@ladante.cc

M EM B ER S S P OT L I G H T

Carola Pasquino Marketing Manager TablO

“The only suggestion I can give to newcomer from Italy is don’t be afraid to discover the diversity. Don’t be the type of people who perpetuates their Italian habits even abroad”

dream about the deliciousness of our Mediterranean cuisine, I miss our cool/trendy look!

What brought you to Hong Kong? My husband and I think Asia is a young and interesting region to explore. We have always been fascinated by “the new”, we like to discover and to experience different lifestyles and cultural contests. Moreover, Hong Kong is a city that can give great career opportunities. So, we decided to push forward our lives and career experience moving here.

Do you have any tips or advises for the newcomers in Hong Kong? The only suggestion I can give to newcomers from Italy is “don’t be afraid to discover the diversity. Don’t be the type of person who perpetuates their Italian habits even abroad, like wanting at all costs to eat pizza and ravioli fresh pasta like at home (cooked by mom…) or keeping a comfort zone speaking Italian only. Hong Kong is a great city with a rich diversity of diversity that I discovered little by little…and there is much more to know. It is not easy to be close to the locals’ habits but Hongkongers can surprise you any time”. This is a place where Western and Asian found a combination of styles and cultures: food paradise, cultural hub, theaters, sports, events and festivals.

What do you think about the economic opportunities here in general? Any difference since the beginning? I moved to Hong Kong almost 6 years ago and the city has changed a lot. I can’t say if it has changed for the better or for the worse. The business opportunities were very interesting six years ago. After the “protests” in 2019 (that seems are still running) and now with the covid-19 spread, the economy is slowing down drastically, but at the same time the cost of living remains very high. I think this will have a big impact on the city. If this situation will stand too long, it will come time to take a decision to relocate somewhere here around in Asia: Singapore, Bangkok? How would you describe your relationship with Italy after you moved to Hong Kong for such a long time? I describe my relationship with Italy with two words “Love and Hate”. My feelings have changed many times in these years. I can’t hide that I am still missing my country. I loved lifestyle in Milan, my home and the neighborhood, my hobbies and, overall, my family and friends. When I started working in Hong Kong and building my career, I realized that I was not completely satisfied about my job in Italy. Now I am building a new page of my life with my husband working for our own company. After six years I see my country from a different point of view. I see the difficult moments of our politics and the countless negative sides of the Italian bureaucracy but at the same time I think about the beauty of our landscape-architectural-artistic-historical treasures, I 40

MEMB ER S SPOTL IGHT

Esterina Nervino Director Retail in Asia

“Italy will always be home. I actually wish Italians, living in Italy, could see our country the same way I and other Italians living abroad see it”

overseeing Asian markets. The retail industry is not experiencing a good time, and probably Hong Kong will not be able to maintain its role of retail hub worldwide, but it will still be an interesting place to be to have access to innovation and technology given its proximity with Mainland China.

What brought you to Hong Kong? In 2012, during my Master Studies at the Universita’ degli Studi di Modena e Reggio Emilia (Italy), while working on a thesis about luxury, I was offered a 6-month exchange program to do research in Hong Kong and study at The Hong Kong Polytechnic University.

How would you describe your relationship with Italy after you moved to Hong Kong for such a long time?

It took me a while to decide whether to embark on this journey or complete my studies in Europe, I was keen to explore new opportunities, but I was not sure I wanted to go so far. At the end, the excitement of going to Asia for the first time won, and here I am.

Italy will always be home. I actually wish Italians, living in Italy, could see our country the same way I and other Italians living abroad see it. Every time I go back, of course I make comparisons and see what is not working, but at the same time, I am able to appreciate more what it may seem trivial to people living in Italy, but become so special when you live elsewhere. Italy is an incredible country, all the world recognizes our cultural heritage and craftsmanship. Italians are amazing entrepreneurs and we have excellences in different fields. However, I have the feeling that our country is still relying on the Renaissance effect and that we have lost interest in striving to lead the way in what we can do better. While answering these questions, Italy is going through the COVID-19 emergency. This will see an end, but I hope it will enlighten people and shade light on the failure in our system. It is actually a great chance to be entrepreneurs and turn this crisis into an opportunity. Paradoxically, I think that living abroad brings you closer to your country.

After the 6 months, I went back to Italy, but one year later, Hong Kong called again. I was awarded the Hong Kong PhD Fellowship by HKSAR to pursue a PhD within 3 years, so I moved back. After completing the PhD, the plan was to go back to Europe to join a research centre in Austria, but then I had the opportunity to be part of Retail in Asia’s team at Bluebell Group and plans changed. Bluebell Group is being a great place to work and with operations in whole Asia, I am able to have an overview of the region and understand how different the markets are among each other, and consequently the business development. My story is the story of many others, you come to Hong Kong to spend a few months, time flies, and suddenly this place becomes home. What do you think about the economic opportunities here in general? Any difference since the beginning?

Do you have any tips or advises for the newcomers in Hong Kong?

In 7 years, Hong Kong has changed a lot. In the past 11 months, Hong Kong has slipped into a deep economic recession, and the outlook for 2020 is not encouraging. However, I still believe Hong Kong could remain a launchpad for international companies to operate in Asia.

Leave your comfort zone, meet people, share ideas, engage in different activities. Join the Italian community, but at the same step out of it, do not limit yourself to what you know already. Nurture your network. Take the chance to learn a different business approach from professionals with an international background. Make the most out of the time you are supposed to spend here, you may decide to stay behind like most of us, but if not, try to leave as a local, not a tourist.

Coming from Italy, Hong Kong definitely looks a much more fertile terrain for career development. Regardless the opportunity of mingling with international professionals for mentoring, there is the chance to gain a diverse experience operating in regional offices 41

new m em b e r s l i st i n g

LOMBRAGROUP is ‘Your unconventional and sustainable partner in Asia’. It is not an ordinary organization, it’s an ecosystem specialized in 3 different domains—something rather unconventional in the business landscape: • Sourcing, sustainability, quality assurance, quality control, and regulations under BUREAU Of COMPLIANCE (B.O.C) • Neuromarketing and sensory marketing under SYNAPSE INTERNATIONAL CONSULTING (S.I.C.) Lombra

Mr. Antonio Tripodi Managing Director lombragroup.com

• Production and trade of luxury and premium goods under LOMBRA At LOMBRAGROUP, their non-conventional approach provides clients with solutions that are more pertinent and adaptable. The one-stop shop concept offers 360-degree services that help customers find solutions to the problems they face every day. Our approach is innovative, systematic, and pragmatic. Their motto is to strive for excellence and to focus on achieving favorable outcomes that would align with the client’s expectations. Our work, team, and structures are subject to continuous evolvement to fit the needs of our clients. LOMBRAGROUP works with mainly luxury and premium brands and with emerging brands that focus on sustainability and innovation. With our 3 departments, we accompany our clients without sourced activities and help them achieve their desired results. We don’t work for our clients; instead, we work with them as partners. We try to understand our clients and their requirements as thoroughly as possible so that there aren’t any doubts left regarding their expectations.

A consulting firm serving to European SMEs. We are a group of highly skilled professionals coming from years of business experience in China. Thirty years of front-running professional know-how, concrete results, multiple solutions and one-stop-consultancy shopping services give our SME Clients the competitive edge they need to emerge in the dynamic complexity of China’s market place today. heir qualified Management Consulting Team offers SME-friendly solutions and practical advice on issues such as Commercial and Industrial Entry Strategy, Human Resources Management, Taxation, Financial and Treasury questions and more. They maintain that every foreign SME planning to open business in China is entitled to optimum consultancy solutions at competitive fees. Focused on their Professional Barbatelli & Partners

Ms. Eleonora Castagnero Marketing Manager barbatelli.net

Mission and on our Client’s realization of profit, they make competent and dynamic Team support available to the Client throughout all phases of project implementation, actively promoting realizations under the highest standards of performance and in full respect of ethical values and guidelines.

Founded in 1897, Juventus is a listed professional football club which, thanks to its more than century-long history, has become one of the most representative and popular team at a national and international level. Juventus is the most successful Italian team and one of the most decorated in European football. In 1985 was the first-ever club to win all the available international trophies. All club’s records have been achieved under the ownership of the Agnelli’s family, a record itself as, with 96 and counting years, it is the longest active ownership of a Juventus F.C. – S.P.A.

Mr. Federico Palomba Managing Director juventus.com

professional sport entities in the world. Juventus can also count on an undisputed global reach with 97 million fans in Europe and 420 million followers worldwide including more than 80 million followers on various digital channels. Among the players that wore or that are currently wearing the iconic black and white striped jersey there are some of the greatest players of football history like the Italians Boniperti, Del Piero, Pirlo and Buffon and the international stars like Platini, Baggio, Zidane, Nedved (current vice-chairman), Ibrahimovic, Pogba, Dybala and Cristiano Ronaldo.The club’s mission is to be a sports entertainment company committed to achieving success on the pitch and to enrich people’s life by providing them with superior and defining experiences.

Maria Conti Jewelry is crafted combining the use of the traditional skills of the goldsmiths together with the new jewels making technologies. Tradition and modernity meet together creating unique pieces. Maria Conti collection is designed with volume and 3D effect. This complexity makes the jewelry more complete and perfect. When it is possible, her jewels also have a moving structure, following the flexuosity of the body. Thought for the modern woman, each piece of jewelry is very light and comfortable to wear. Passion for details. Unique and unforgettable Maria Conti Jewelry Imaco International Ltd

jewelry.

Ms. Maria Conti Managing Director mariacontijewelry.com

n ew memb er s listing

JUPITER Global Limited (owned by Japan Airlines Group & Mitsubishi Logistics Corporation) is a global freight forwarding services provider. JUPITER network has been expanded to nearly 40 branches at major gateways in the world. JUPITER, HKG station is a part of the global network working closely with extensive JUPITER Group network to provide not only Door-to-Door services but also specialize in tailor-made logistics solutions to carry out “Safety Transportation”, “Speedy Transportation” and “Punctual Jupiter Global Limited

Mr. Katsuaki Yamada Director jupiterhkg.com.hk

Transportation” that keep our customers’ business moving ahead in this fast-paced world. Also, JUPITER Global Limited has now started providing services of consulting and promotion events for Japanese local governments, Japanese product associations and Japanese food suppliers.

Kapuhala is a global lifestyle brand operating across Hong Kong, Koh Samui and Sicily; with a dedicated Social Training Space located in Discovery Bay, Hong Kong offering over 40 fitness classes per week at the waterfront studio on Lantau Island; a 25 hectare Heritage Farm and Training Retreat, home to the Kapuhala olive groves and organic farm in Sicily, and the new Koh Samui Tropical Farm and Training Retreat in Thailand. The rapidly expanding brand Kapuhala aims to create life-enhancing experiences through fitness, nutrition and social living. It is an exclusive community of business leaders, athletes and forward-thinkers coming together to learn how to optimize Kapuhala Space Ltd.

their physical and mental performance to become not only superior athletes and successful businessmen but also happier and balanced

Ms. Crystal Lee Director kapuhala.com

individuals and in turn become more capable and willing to give back to society and nature.

“Pirola Pennuto Zei & Associati” was established as a partnership in the 70’s by a group of professionals who since then have been engaging and focusing in the provision of tax and legal services to medium and large-sized companies and multinational groups. With 10 offices in Italy and international offices in London, Beijing, Shanghai and Hong Kong, the Firm boasts more than 500 professionals, as well world-wide correspondents. Recognizing China’s strategic role in the global market, Pirola Pennuto Zei & Associati operates in China through its associated companies Pirola Advisory Hong Kong Limited

Mr. Lorenzo Biamonti Partner pirolapennutozei.it

Pirola Advisory China and Pirola Advisory Hong Kong (“Pirola Advisory China”) to support international companies succeed in this fastgrowing economy. With offices in Hong Kong, Beijing and Shanghai, Pirola Advisory China is dedicated to providing advice and assistance with respect to the development of business in the Greater China region and in the Far East area, assisting clients and investors in the areas of tax, legal, business advisory, administrative and accounting consultancy.

World First Holdings is a renowned fashion retail group of companies that owns the franchise rights of over 30 top international brands, with an unrivaled distribution network that includes over 200 directly operated stores and a talent force of over 1500 throughout Mainland China, Hong Kong, Macau, and Taiwan.

World First Holdings

Mr. Fan Wing Ting Chairman wfholdings.com

ne w m em be r s l i st i n g

Founded in 1983, Technogym is a world leading supplier of products and services in the Wellness and Fitness industry. Today, Technogym has over 50 million users and over 3 million pieces of equipment installed in over 380,000 installation world-wide. With over 2,300 employees, 14 branches and 72 distributors, Technogym is present in over 100 countries. The success of the brand has been driven by innovation, design, education and content. The unique reputation for innovation is founded upon the relentless investment Technogym Asia

Mr. Marco Tarquini Managing Director technogym.com/gb

in research and development. Technogym prides itself in developing the most technologically advanced smart equipment which now shapes the industry’s standards. Technogym provides a complete range of cardio, strength and functional equipment alongside a digital cloud-based platform allowing consumers to connect with their personal wellness experience anywhere, in or outdoors. Alongside quality and reliability, design is the key ingredient which has enabled Technogym to make its mark and obtain several international prizes such as the Red Dot Design Award, one of the most prestigious international awards for premium design and for the ability to skilfully merge form and function.

Founded in 1933 by Francesco Illy, illycaffè is a point of reference for coffee culture and excellence, since it has built an all-inclusive world made of ethics, intelligence, experience, taste, science, and art. In order to obtain the coffee of the best quality, illycaffè purchases directly its raw materials from the growers, in an economic, social, and environmental sustainability process that goes all the way down the supply chain, from the bean to the cup. illycaffè S.p.A. Asia Pacific Branch

Delighting people who love the quality of life thanks to the best coffee that nature can offer, enhanced even more by the most advanced

Mr. Andrea Casali Export Area Manager illy.com

technologies: this is illycaffè mission, passion, and obsession. For more than 80 years the company pursues the dream to offer the best coffee to the world to give a moment of happiness, a smile at each cup of coffee. illycaffè produces and markets worldwide only one blend of high-quality coffee, made of nine kinds of pure Arabica. The unmistakable taste and aroma of illy are born from the perfect balance of these ingredients that the company purchases directly from the growers in South America, Central America, India, Africa, and China. Taste and aroma are always the same in each cup of coffee sipped in any region of the globe. Worldwide, more than 7 million coffee cups are enjoyed every day, made with the illy blend.

Diacron, established in 1995, provides accounting, tax and corporate services. Diacron team consists of talented and young professionals and offers specific consulting services on international business and fiscal matters in addition to corporate services, helping entrepreneurs and enterprises who wish to or have already expanded their business abroad. By providing a subject-matter expertise on the international and local regulatory framework, Diacron team focuses on providing the right attention to all technical issues, criticalities, challenges and deliverables Diacron (Hong Kong) Limited

Mr. Danilo Nicolotti General Manager diacrongroup.com

that clients may face in their activities abroad. Diacron’s mission is to help clients in their business abroad streamlining corporate policies, fiscal and corporate strategies, as well as to provide effective solutions in their human resources management and administration, achieving corporate goals while ensuring best practices and regulatory compliance.

KING OF TRUFFLES is a company that avails itself of the most experienced employees and hunters. It has two main areas of excellence: the selection of the best pure and uncontaminated truffles and the safeguard of the territory in which the products are sought after and selected, fully respecting the environment in which it operates. We are talking about the province of Isernia, in the National Park of Abruzzo, Lazio and Molise area, the land that accounts for up to 40% of the total truffle production in Italy. Thirty years of experience, in-depth knowledge of the industry and the product as well as the technical expertise of its specialists, make KING King of Truffles

OF TRUFFLES an established and trusted partner in a refined and highly competent environment and culinary culture.

Mr. Edmondo Angelaccio General Manager kingoftruffles.com

Their mission is selecting the excellence of fresh and processed truffles and packaging with the most fine and luxorious boxes in the World. Preparing the most exciting unique and newest italian recipes for all truffle lovers all around the World and make it possible they could create the rich flavours of italian food tradition.

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GiòPorro company was established in 1893 by Luigi Porro, from the noble Porro family of Brianza, a historical area in northern Italy. SEP Valtellina is a factory which produces cured meat for the gio’porro brand. With our exclusive and registered “metodo zero”, it is the only factory that can make cured meats through a fully natural process, with no preservatives. Our products have received numerous awards recognizing our product as the best cured meat in the world. SEP Valtellina

Mr. Diego Porro Commercial Director gioporro.com

The factory has also received an award for being the best 4.0 innovative factory, from a robotic and engineering point of view. Due to the fact the we only use the best fresh meat (black angus, kobe, wagyu, fassona etc.) and extensive seasoning processes, the flavours of our products are spectacular.

A sworn translator of English and Spanish into Italian, specialising in contract and corporate law, corporate literature, economics and finance, politics, EU policies and publications for international organisations, offering translation, certification and legalisation, and proofreading services on a freelance basis. We provide an excellent quality service at all times whilst upholding specific time and confidentiality requirements Cristina Gastaldo – Certified Italian translations for law and business

Ms. Cristina Gastaldo Owner and Director cristinagastaldo.com

Lug Giroud first got into digital marketing in France and started off launching his own internet-based projects back in 2006. His early projects have reached tens of millions of monthly visits in over 15 languages. Those projects cover many industries: Financial Services, Real Estate, Sports Coaching, Dating, Luxury Goods, Multidisciplinary postgraduate research, F&B, International events, etc. In 2014 WILD started offering digital business making solutions to third parties in Hong Kong. They’ve already set the bar high and achieved growth, visibility and ROI improvements for their clients. Wild at Heart boasts extensive digital knowledge with an international team.They

Lug Giroud Co-Founder at Wild wild-at-heart.net

articulate web development, web design, eCRM, Analytics & KPI setting, Search Engine Optimization, Conversion Rate Optimization, Social Media Editorial line and Campaigns, Pay per Click, Market place setting and Optimization, Growth hacking, etc. into an efficient business strategy.

Active in the financial industry in China for over twenty years. Formerly with Intesa Sanpaolo, China Development Bank, China Africa Development Fund, Bank of Qingdao. Founder and Managing Director of Sinaxia Investments. Value investor. Italian, English, Mandarin, German.

Carlo Gioja Managing Director Sinaxia Investments Ltd

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wh at ’s o n h on g k on g

Lia Campiglio

orn in a small countryside town of Piemonte (Italy), Lia Campiglio then left home and moved to Venice to study Oriental languages (Mandarin) at Ca' Foscari University. After living and studying abroad in Barcelona

(Spain), Beijing and Nanjing (PRC), in 2012 she decided to leave her Country and work in a competitive market such as Hong Kong. She is currently working at the Italian Cultural Institute of Hong Kong. While organizing cultural events related to Italian culture, arts and lifestyle she enjoys exploring the wonders of South East Asia.

Outdoor activities in Hong Kong: make the most of your time to explore the greener side of the city and enjoy the best of Hong Kong’s spectacular and lush nature! Hong Kong’s total land area is roughly 1,078 square kilometers and includes Hong Kong Island, Kowloon, the New Territories and about 235 outlying islands. Hong Kong is not just a concrete jungle: 40 percent of the whole area is classed as “country park” and the territory has natural parks, beautiful paths and lots of places for outdoor activities such as hiking, climbing, cycling and horse riding.

HIKING Hong Kong provides an escape from city life with four major hiking trails nestled in its mountains and hills: - Hong Kong Trail: this 50 Km trail starts at the Peak and ends at Big Wave Bay, in the southeast of Hong Kong island. - Wilson Trail: passing Hong Kong island and Kowloon, this 78 Km trail runs from Stanley and finishes at Nam Chung, in the northeastern New Territories. - MacLehose Trail: stretches for around 100 Km from the hilltops of the New Territories. - Lantau Trail: this 70 Km route crosses Lantau Island from the ferry pier at Mui Wo (east side of the island) to Tai O (the west side of the island). Follow these trails and you will be rewarded with stunning views of Hong Kong and its magnificent skyscrapers! Beginner hikes: the Morning Trail - incredible views of the city skyline

with 934 meters of altitude and Sunset Peak; Sharp Peak - well-known

from the Peak; Dragon’s Back - panoramic views of Stanley and Shek O;

for its pointed apex which can be recognized from every angle within the

Tai Long Wan - endless views of blue and three adjacent beaches: Sai Wan,

Sai Kung Country Park; Castle Peak - spectacular panoramic view of Tuen

Ham Tin, Tai Wan.

Mun, Yuen Long Pak Nai; Tai Mo Shan - the highest peak in Hong Kong.

Intermediate hikes: Lion Rock - well-known for its cliff edge standing

Night hikes: Braemar Hill - sunset views over Victoria Harbour; Fei Ngo

495 meters above Kowloon; the Twins - a serious workout of about 1,000

Shan - Suicide Cliff - a medium/hard difficulty hike for breathtaking

steps.

views of the Kowloon Peninsula; Garden Hill - a favourite spot for night photographers due to its spectacular views of Kowloon.

Challenging hikes: Lantau Peak - the second highest peak in Hong Kong

wh at’s o n h o n g k ong

CYCLING In Hong Kong cycling paths and biking options are bountiful for beginners to advanced. From the seaside cycling trails in Tseung Kwan O, Tai Po and Hong Kong Island to BMX hills in the New Territories, there are lots of beautiful trails to keep people of all levels challenged and entertained. The Tolo Harbour Cycle Track is the longest and most popular cycling destination in Hong Kong. Running from Tai Po to Sha Tin and all the way to Tai Mei Tuk, this trail is about 20 kilometers of dedicated cycling route. The track provides views of both the Plover Cove Reservoir as well as the Pat Sin Leng mountains (the so-called “Eight Peaks”). It also runs past the Hong Kong Science Park and the Tai Po Waterfront Park. For the easiest family ride with a stunning view, the West Kowloon Waterfront Promenade is a great choice: you cycle down while looking over Victoria Harbour. What makes it even easier is that there are bikes to This trail includes long stretches of steps and challenging terrain but the

rent for both children and adults.

spectacular views off of Lantau Island’s southern coast make the journey Cycling on Cheung Chau Island is relaxing: a seaside cycling path runs

well worth it. If you are looking for something easier, bike up to the

along the west side of the island. It is possible to bike around the whole

Silvermine Waterfall for an enjoyable bike ride alongside the Silvermine

island including the seaside, the beachside, the town. For a more strenuous

Beach promenade through Mui Wo villages.

route, it is suggested to head to Cheung Po Tsai Cave, on the south part Lamma Island offers family trail runs lengthwise over the entire island and

of the island.

is suitable for both walkers and cyclists. For those looking for a bit of adventure, rent a bike in Mui Wo and head out on the Chi Ma Wan trail.

HORSE-RIDING The Hong Kong Jockey Club operates three public riding schools: Tuen Mun, Pok Fu Lam and Lei Yue Mun Park. The schools offer a wide range of courses and equestrian activities such as group training classes, visits and competitions to learn more about horse riding, horse care, and equestrian sport.

wh at ’s o n h on g k on g

VISITING A FARM Hong Kong boasts a large selection of organic farms: both adults and kids can experience life on the farm. Local farms are a perfect way to escape the stifling city life and reconnect with nature while enjoying some fun. There’s no farm more historic and well-known than Kadoorie Farm and Botanic Garden, which was originally established in 1956 to aid poor farmers in the New Territories. During the years, it has developed into a nature conservation centre and local attraction dedicated to nature education and sustainable agriculture. Spreading over 148 hectares of land in the northern part of Tai Mo Shan, it is really enjoyable to soak up the greenery and fresh air here. Strawberry picking season starts around December and lasts until April: it is worth visiting Rainbow Organic Strawberry Farm and Kam Tin Country Club in the New Territories for their acres of fields filled with the freshest strawberries. There is also a range of other facilities such as petting zoo and onsite barbecue areas. Flower World Organic Farm - also known as Philip Hillary Flowerworld

A collective of nature lovers and charitable Hongkongers established

Farm and Philip Hillary Garden - is an organic farm with a special focus

community project Yi O in 2012 in the northwest area on Lantau Island.

on raising awareness of organic farming and grows truly stunning organic

The team currently harvests mostly rice. Yi O Farm often organizes walking

flowers in the New Territories. It promotes these farming methods through

tours and farming workshops for visitors to get hands-on experience and

a range of workshops that make it ideally suited to school groups.

to feel closer to nature.

PICNICKING Hong Kong has some wonderful country parks open to the public and plenty of parks with open spaces to spend time with friends and catch some vitamin D on the weekend. There are some gorgeous gardens and parks for fabulous al fresco dining spots: there are both barbecue pits to savour a freshly cooked meal and picnic tables and benches. These idyllic spots are not something people would expect to find in Hong Kong! Hong Kong Island: Sun Yat-Sen Memorial Park - Sai Ying Pun, Victoria Peak Garden - The Peak, Tamar Park - Admiralty, Quarry Bay Promenade - Quarry Bay, Cyberport Waterfront Park - Pok Fu Lam, Victoria Park - Causeway Bay. Kowloon: Jordan Valley Park and Kwun Tong Promenade - Kwun Tong, Nursery Park at West Kowloon - Tsim Sha Tsui, Kai Tak Cruise Terminal Park - Kowloon Bay, Lion Rock Park - Kowloon. New Territories and Outlying Islands: Tai Po Waterfront Park - Tai Po, Bride’s Pool (Plover Cove Country Park) - Tai Po, Clear Water Bay Second Beach - Clear Water Bay, Ma On Shan Park - Shatin, Tap Mun Island (Grass Island) - Sai Kung, Lo So Shing Beach - Lamma Island.

wh at’s o n h o n g k ong

Hong Kong Island: Stanley Main Beach - famous for its market; Repulse Bay and Deep Water Bay Beaches - two of Hong Kong’s most accessible beaches; South Bay Beach - a quieter spot as it’s a little hidden; Shek O and Shek O Back Beaches - the best places to cool off at after hiking Dragon’s back; Big Wave Bay - Hong Kong’s only officially recognized surf beach. New Territories: Tai Long Wan - made up of four beaches along the bay (Sai Wan, Ham Tin Wan, Tai Wan and Tung Wan) and located on the east coast of the Sai Kung Peninsula; Long Ke Wan - along with the beaches of Tai Long Wan; Hap Mun Bay Beach (also known as Half Moon Bay) - it’s just a short sampan ride away from Sai Kung; Clearwater Bay (First & Second) Beaches - in the southeast corner of the New Territories, both have facilities, such as public toilets, showers and changing rooms. Lantau Island: Pui O Beach - a very relaxed, laid back vibe; Cheung Sha Beach (Upper and Lower) - one of Hong Kong’s longest beaches; Silvermine Bay Beach - mostly alive at night with the public barbecue pits and other dining options available nearby. Lamma Island: Hung Shing Yeh Beach - adored for its clear blue waters

GOING TO THE BEACH

and soft white sand; Lo So Shing Beach - a small beach adorned by thick, forested hills.

Hong Kong may be famous for its epic skyline but its territory is also plenty of beaches. Some of them only require a bus ride to get to, while others take

Cheung Chau Island: Tung Wan Beach and Kwun Yam Wan - well

a little more time and perseverance… Anyways, they’re all worth the trip!

known for their windsurfing and kayaking activities.

VISITING AN OUTLYING ISLAND Hong Kong territory has over 250 outlying islands, where escaping from the hustle and bustle of the city to enjoy the laid-back island life for a trip on the weekend has always been easy: Hongkongers make the most by exploring the beautiful nature of the islands around Hong Kong. Lantau, Lamma, Cheung Chau and Peng Chau Islands are the most visited and well-known islands around Hong Kong. Other islands with gorgeous sandy beaches and picturesque hikes are Tung Ping Chau - protected as a Country Park / Marine Park and listed within Unesco’s Global Geoparks Network; Middle Island - home to the Royal Hong Kong Yacht Club; Tap Mun (also known as Grass Island) and Sharp Island - which sit off the coast of Sai Kung Country Park; Po Toi Island - home of two large Bronze Age carvings; Tung Lung Chau - the best place for rock climbing in the territory; Yim Tin Tsai - once home to a thriving salt industry, it is now an abandoned island where the Chan clan of the Hakka people in the 18th century settled; Kat O (also known as Crooked Island) - in the northeast of Plover Cove Country Park.

wh at ’s o n m a c a o

Macau Lifestyle Media

acau Lifestyle Media is the company behind MacauLifestyle.com, a premium English digital publication dedicated to promoting Macau. Founded by Katya Maia and Sally Victoria Benson, the website

was launched in 2016. MacauLifestyle.com offers unique and engaging content related to dining, events, arts, culture, and heritage. With a reader-friendly style supported by strong social media channels, it is easy to navigate and can be accessed anytime, anywhere. Macau Lifestyle provides relevant, up-to-date information to the local community and tourists alike also featuring a comprehensive city guide and events calendar.

This city has so much to offer that it’s hard to select just a few places! From parks and gardens to old streets and alleys, entire neighborhoods, museums, and architecture, there is a lot to explore in Macau. However, there are some spots we consider impossible to miss on a day or weekend trip to Macau, also great for family friendly activities. Our list includes gems such as Flora Garden, local museums, Mount Fortress and much more! Take this journey with us and discover a city with a history as colorful as its people.

MOUNT FORTRESS Standing tall as one of the oldest structures in the city, Mount Fortress has a history dating back to the 17th century and narrates tales of protection and war. As a UNESCO World Heritage Site, it has free admission and presents a breathtaking 360º view of Macau: from the Ruins of St. Paul’s to Ha Sa Wan area. It also served other purposes, such as the residence for Portuguese governors, namely D. Francisco Mascarenhas (until 1746).

Opening hours: Daily, 7:00am – 7:00pm Venue: Mount Fortress Rua do Monte, Macau Info: www.macaotourism.gov.mo

wh at’s o n macao

MACAO MUSEUM If you stand right inside Mount Fortress, with just a set of stairs leading up, you will find the Macao Museum. Inaugurated in 1998, it tells the story of Macau from before the settlement of the Portuguese, going all the way through to various discoveries and the casinos’ development. However, what is really makes it truly fascinating, is all the rich traditions it covers and presents; narrating how fishing, firecrackers, a diverse factory industry and local vendors were, at different times, some of Macau’s most important economic tools. The Macao Museum is set high on top of Mount Fortress, therefore perfect for a beautiful stroll outside after your museum visit. It is also great for kids. Opening hours: Tuesday–Sunday, 10:00am – 6:00pm

The price per person is MOP $15 (adults), MOP $8 (student card

Venue: 112 Praceta do Museu de Macau, Macau

holders), and (with) free admission for children under 12 or seniors.

Info: www.macaumuseum.gov.mo

MACAO MUSEUM OF ART With an unbelievable set of collections across each year, the Macao Museum of Art (MAM) is a must-visit on your cultural trip to Macau. It showcases a strong selection of Chinese artists and pieces and also has dedicated contemporary works by international names. MAM is comprised of both permanent and temporary exhibitions. Don’t miss the stunning watercolour pieces in the permanent exhibition that depict beautiful scenes from old Macau. Its curators have set a steady resume when it comes to collaborations: from Chinese institutions such as Shanghai Museum or Palace Museum to showcasing entire collections of artists and art from France, New Zealand, Portugal, Mexico, Brazil, USA and so on, it caters to the educated, interested and curious segment. However, MAM’s art doesn’t stop at its exhibitions. The building–projected by Portuguese architect Bruno

Opening hours: Tuesday–Sunday, 10:00am – 7:00pm

Soares–itself is magnificent, allowing for strolls inside and out, as well as

Venue: Avenida Xian Xing Hai, NAPE, Macau

amazing photoshoots.

Info: www.mam.gov.mo

Entry is free and kids are more than welcome.

wh at ’s o n m a c a o

FLORA GARDEN & GUIA LIGHTHOUSE Into hiking but don’t have enough time? Then a tour around the Guia Lighthouse is the perfect option to combine for lovers of both history and fitness! This spot is not only one of the highest, but oldest spots in Macau. There are two ways to reach the top: on foot or by a tiny, very cool cable car that costs less than MOP $10. Flora Garden’s–also known as Ho Tung Garden–history goes back to the 19th century when Portuguese priest Vitoriano de Almeida first built a small palace there. Later on, the local government bought the area, which also served as the governor’s home at the given time. Unfortunately, the palace burned down in the mid-20th century. Besides a diverse set of flora, there are also animals to see. The garden has a fountain with two dragon sculptures: the garden is also known as the “Garden of the Two Dragons’ Throats” in Chinese. As for the lighthouse, built in 1865, it is located inside Guia Fortress, which also includes a

Opening hours: Garden: Daily, 6:00am – 00:00am

chapel that goes by the same name. This is the oldest lighthouse in the

Cable car: Daily, 8:00am – 6:00pm

Far East and China altogether. The structure is 15 meters high and stands

Venue: Flora Garden - Avenida do Sidónio Pais, Macau

91 meters above sea level, allowing an amazing view from atop across

Guia Lighthouse - Rampa Da Guia, Macau

the whole city. It’s beautiful to visit during nighttime as well but we love

Info: www.macaotourism.gov.mo/flora

viewing the sunset there.

www.macaotourism.gov.mo

A MA TEMPLE As one of the top three oldest structures in Macau, this is one of the most beautiful and well known temples in the city. Along with Kun Iam, it narrates tales of protection of the fishermen that went to work on mad seas. Built in 1488 by Chinese, people say that once the Portuguese arrived at that area and asked locals where they were, they replied “A-maa-gok”–meaning Pavilion of the Mother–thus making Macau the name of the city. The temple is comprised of several different halls and it’s dedicated to the Chinese sea goddess, Mazu. It consists of the Gate Pavilion, the Memorial Arch, the Prayer Hall, the Hall of Benevolence, the Hall of Guanyin, and Zhengjiao Chanlin. Since 2005, it’s been a UNESCO World Heritage Site, as part of the Opening hours: Daily, 7:00am – 6:00pm, free admission

Historic Centre of Macao. It is also recorded as one of the first sites in

Venue: Barra Square, Macau

the city to ever be photographed, having been painted or drawn since way

Info: www.macaumuseum.gov.mo

back when.

wh at’s o n macao

MACAU CATHEDRAL Set in a calm and wide square, the Macau Cathedral is one of its kind in the region. Bearing strong ties with the presence of the Portuguese in Asia, it is fully functional, holding daily and weekend masses in several languages. Built in the start of the 17th century, it was originally made of straw and soil. The building was refurbished sometime during the 19th century to what we see today. The cathedral is the Macau Diocese headquarters, which used to be at St. Lazarus Church. This religious spot has different images of saints all over and includes tombs, namely of a Portuguese bishop called D. Nicolau Pereira Rodrigues de Borja. The latter contributed greatly to the restoration of the facilities after a typhoon destroyed the church, in 1835. Renowned architect José Tomás D’Aquino was the one responsible for the project at that time. The monument was completely reconstructed again in 1937. Interesting Opening hours: Daily, 9:30am – 6:00pm, free admission

enough is the fact that all the Macau governors–prior to the sovereignty

Venue: 1 Largo da Sé, Macau

exchange–were “throned” with a religious ceremony at the Cathedral

Info: www.macaotourism.gov.mo

before starting their mandate. Standing a few minutes away from Senado Square, it’s a perfectly well-preserved example of European heritage, worth visiting while exploring the famous Senado Square.

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