ITALIANCHAM MAGAZINE Vol.14 by icchkmacao

Contents

President’s memo

Chamber’s patrons

Chamber’s spotlight

Member’s spotlight

Cover story

take a coffee break

philanthropy by IWA

Business focus

Talk of the town

Art, culture & lifestyle

What’s on hong kong

Publisher The Italian Chamber of Commerce in Hong Kong and Macao Room 1006-07, 10/F, OfficePlus @Sheung Wan, 93-103 Wing Lok Street, Sheung Wan, Hong Kong Tel: +852 2521 8837 Email: icc@icc.org.hk Website: icc.org.hk

official magazine distributor

President’s memo

Ivano Poma Dear Members, affiliates and friends, I hope my message finds you in good health and I hope that by the time this message will reach you, we might be hopefully over the peak of the current 5th wave of this endless pandemic. The myth of Sisyphus, from our days at school, and his destiny of cyclical efforts which seemed impossible for real humans, is probably the best allegory for this time. With our mental and physical health at stake, our work, the school, the restrictions etc. we must have faith that we’ll be out of this, as the tenacity of Sisyphus, despite his human flaws, was stronger than his Gods’ spell. This issue of our ItalianCham Magazine is dedicated to the Greater Bay Area, which represents the future of our beloved city and of the region we now belong to. Along with the main theme of this issue, we also celebrate the

President italian chamber of commerce in Hong Kong & Macao

25th Anniversary of our Italian Chamber, a quarter of a century which saw many of us involved throughout the ups and downs of Hong Kong, supporting the Italian businesses to strive and get recognized in the area. The changes we witnessed in these many years were striking, from the inevitable end of the colonial era to this transitional period of rapid integration with the motherland. With the same spirit of our founders, your Chamber is here for you as always, as the recognized regional centre of our business community which, alongside our Italian Diplomacy, represents our unique Country with the rest of the world and the local and Central Government. Please never hesitate to reach out to us, to strengthen our unity and help us with remarks and ideas, as our accomplishment will be your success.

Sincerely,

Ivano Poma

We take a step forward on green logistics. From going paperless to introducing e-vehicles and eco-friendly materials, we care for our mother earth as much as your merchandises.

Worldwide Luxury Services: GLOBAL DOOR-TO-DOOR & DOMESTIC TRANSPORTATION ADVANCED IN HOUSE ICT PLATFORM & SUPPORT HIGH-LEVEL GLOBAL EXHIBITION & PRIVATE EVENTS SUPPORT CUSTOMS DOCUMENTATION HANDLING & BROKERAGE COUNSULTANCY COMPREHENSIVE INSURANCE SERVICES WAREHOUSING, DISTRIBUTION & TECHNICAL QUALITY TAILOR-MADE LOGISTICS SOLUTIONS & CONSULTATIONS

FERRARI LOGISTICS (ASIA) LTD HEAD OFFICE: 16/F Block A Hong Kong Worsted Mills Industrial Building, 31-39 Wo Tong Tsui Street, Kwai Chung, N.T., Hong Kong Tel: (852) 2264 2001 Fax: (852) 2264 2037 Email: info.hongkong@ferrarigroup.net

www.ferrarigroup.net

Chamber’s Patrons

Chamber’s

spotlight

fabio de rosa President (March 2005 - March 2017) italian chamber of commerce in Hong Kong & Macao

hinking of The Italian Chamber of Commerce in Hong Kong and Macao brings back a time of great achievements and satisfaction. A mix of energetic and committed young Italians (Manuele Bosetti, Anna Romagnoli, Alessandra Lombardi, Alessia Monarca, Enrico Bargnani, just to mention a few) with the experience and knowledge of Chinese culture and business of seasoned members of the ICC Board of Directors like Claudio De Bedin, Luigi Rapetti, Andrea Croci and many others. All working together with one single target: to help raise the image of the Italian entrepreneurs in Hong Kong and China to the level their qualities and resilience deserved. In a country that loves Italy and “Made in Italy”. One clear memory is when the Chairman of the powerful German Chamber in Hong Kong asked me why we had so many people attending the events of the ICC, while apparently, the German Chamber was struggling to attract visitors to their initiatives. My answer was quite straightforward: “Look at our teams and spot the difference: the ICC is managed by enthusiastic youngsters”. As Chairman I witnessed the constant growth of the ICC within the Hong Kong and Macao business community. With more and more companies of Italian origin joining and contributing to the reputation of the Chamber. Furthermore, a fruitful alignment of interest with the Consulate General of the Italian Republic in Hong Kong, and with the Trade Commissioner, allowed us to improve our position with different areas of the Hong Kong Government and Agencies. Immigration, Financial Secretary, Invest Hong Kong were all well aware of our efforts to support the commercial business between Italy and the Hong Kong S.A.R. and Macao. Many projects were co-managed with the Consulate General and the Trade Commissioner, to the advantage of the community as a whole. In short, an incredible experience. For which I once again need to thank the members of the Board of the ICC, the Secretary-General that acted from time to time and all employees of the Italian Chamber.

Claudio de Bedin

he Italian Chamber of Commerce in Hong Kong and Macao was incorporated 25 years ago with the objective of fostering bilateral trade between Hong Kong and Italy. On the 25th anniversary of the Chamber, one could consider the anniversary as the appropriate point in time upon which to reflect as to what has been achieved, congratulate all those involved, which may be justified, and rest on ones’ actual, or perceived, laurels. If one were to do so it would be business as usual and there would be little, if any, no progress. One alternative, is to take the view that the Chamber could have done better, which is always true, and to surmise that it will, in the future, with the resources available and appropriate participation, fulfil its’ intended role in an exemplary fashion. Context is in my view, important. In this connection, one must remember that Hong Kong and Macau are indisputable integral parts of China. Our future is linked to China and to quote, the first post-handover Chief Executive of Hong Kong, Tung Chee-hwa, “what is good for Hong Kong is good for China and what is good for China is very good for Hong Kong”. This is irrefutable and, as a result, the activities of the Chamber have, and must continue to, take into account the role of Hong Kong and Macau as being part of China with a separate system. The function of Hong Kong in the current global economic context is clear. It will, however, change and adapt, as the economic and political landscape develops. The role of the Chamber has not been, and must never be, political, or stagnant, but must, in accordance with the reason for it being set up, be a service provider to its members and the community at large. In my view, it must also understand, appreciate, analyse and disseminate the opportunities that exist between Italy and Hong Kong and Macau from an investment, trade and finance perspective. To do so, it is essential that the Chamber strives to provide quality information, and services, appearing to both countries, being Italy and China, whilst identifying the role of Hong Kong and Macau, which must not be underestimated or discounted. It is with reluctance that I mention Covid. The terrible negative effect of this pandemic gives rise to consideration as to the basic purpose and tenet of the Chamber which is, in essence, to provide useful, practical, and valueadded “business” related services that are required by the community. In this context, one should bear in mind, the fact that the Chamber has been stoically supported by the Italian Consulate and respected, and assisted, by the Hong Kong Government and its various departments. It, therefore, has a reach that very few, if any, companies have. The Chamber if supported by its members and the community at large can continue to provide innovative benefits and services. One must, however, remember that the Chamber requires input from us all and that it is ours to guide, and assist, and that in so doing it will have additional capacity and capability to serve. I do not expect agreement on my thoughts, or point of view, however, you would be wrong if you did not agree with me. I could be joking when I say this but, for those of you who know me, you may have some doubts.

anniversary

We connect people and promote business exchanges between Italy, Hong Kong and Macao since 1997. The Italian Chamber of Commerce in Hong Kong and Macao is committed to fostering closer bilateral ties between Italy, Hong Kong and Macao. The Chamber provides services including event management, translations and interpretation, market report and HR service.

● Ad-hoc event organization according to budget ● Business updates on Hong Kong's latest regulations ● Industry reports by commissioned request

MARKET REPORT TRANSLATIONS AND INTERPRETATION

● Certified translation services of documents and certificates are available in Italian, English and Chinese ● Assists with certification of translations by the Home Affairs Department ● Interpretation service by Chamber’s staff or external professionals for business meetings, and fairs in Hong Kong and Macao

● Venue booking, catering services, promotion, invitations, registrations and photo-taking during the event ● Collaboration with other members and F&B contacts

EVENT MANAGEMENT HR SERVICE

● Recruitment services package to assist you in recruiting new talents, including: ○ Job listings on the Chamber’s website, JobsDB and LinkedIn ○ Initial proﬁle screenings and interviews on behalf of your company ○ Shortlisted candidates referrals to your company for ﬁnal selection ○ Visa applications & extensions of: GEP, Training, IANG and Working Holiday*

Chamber’s Spotlight The Italian Young Professionals (IYP) is a Committee born in 2012 within the Italian Chamber of Commerce in Hong Kong and Macao, dedicated to promoting the business growth of its members through different projects and activities.

Join us

at the Italian Young Professionals Committee

The core of the Committee is young professionals - Italian and foreigners (under 35 years old) - who are taking their first steps in the business world and need to build the necessary skills to have a successful path in their career. In addition to the Italian Chamber of Commerce’s regular events, the IYP is proud to support its community by organizing business and social events tailored specifically for its members. IYP members have the opportunity to find a platform to develop peer support and network; share ideas and experiences; seek mentors; boost career opportunities, and overcome challenges that might arise while establishing successful careers in Hong Kong and the Asia Pacific Region. Through regular meetings and events, the Committee makes sure the group stays relevant for professionals who have just entered or are about to enter real working life by offering an outlet for professional development, best practice sharing, cross-sector exposure, mentoring, and networking in a social setting.

Italian Young Professionals Committee, where young professionals meet…

IYP Round Table Series: Meet Jose Carlos Bezanilla April 28, 2021

Mission

Our mission is to enrich the lives of young professionals based in Hong Kong through unique opportunities for professional development and personal enrichment.

We aim to:

01 Address the needs and interests of

IYP members through educational and social activities;

02 Encourage young professionals to actively

participate in events that will empower their professional and social networks;

03 Provide a value-added platform for young professionals

to create new networks with peers and senior business leaders within the Italian Chamber of Commerce in Hong Kong and Macao;

04 Cultivate the development of the future leaders

05 Promote areas of interest of IYP members within the Chamber.

through various young professional developmentfocused events and programs;

Activities

The activities range from ad hoc leadership and career seminars with high-calibre speakers, training events, and courses, to fun and informal get-togethers such as dinners, pub meet-ups, outdoor activities, and other networking events.

Some of our past events include:

IYP Benefits

Enrich talks and seminars with topics relevant to young professionals including speakers such as David Rosa, CEO & co-founder of NEAT; Giuseppe Milito, Managing Partner and Founder of Stones International; Alberto Forchielli, Italian journalist and entrepreneur; Beppe Severgnini, Italian journalist and more; IYP Round Table Series: Meet Jose Carlos Bezanilla (CEO of Great Place to Work China) and Meet Ph.D. Helen Fung (Ph.D., CPsychol, AFBPsS, APAC Master Coach at LHH); Joint events with other Italian and foreign institutions based in Hong Kong (Dante Alighieri Society, Ca’ Foscari Alumni), Young Professional Committees, and Chambers of Commerce to enable cultural exchange; Practical skills workshops (i.e. presentation, leadership, financial planning); Social and informal gatherings organized by IYP members (such as IYP Mondays and Christmas parties).

Attend events, conferences, and seminars tailored-made for the YP community; Access a network of professionals based in Hong Kong; Contribute to a forum of ideas and trends between experienced and entry-level professionals; Join IYP mentorship programme; Discounted rate for Joint events with other Chambers or partners.

Future events Looking to the future - What we are planning for the upcoming months… Stay tuned!

Enrich Talks Series, areas: fashion, F&B, law, international diplomacy, start-ups, and more; Workshop Series, areas: the world of headhunting, LinkedIn performance, and social media marketing, personal branding, time management; Round Tables, areas: career development, coaching, public speaking; Job Opportunities: a prime source of pre-released career opportunities for the Members;

Informal networking cocktails & dinners in collaboration with other Chambers’ YP communities and their Committees.

Whether you are new to Hong Kong or already living here, we always welcome new members looking to expand themselves professionally and be part of the IYP community! For further information about the Italian Young Professionals Committee, please check the following web page: https:// www.icc.org.hk/our-committee/iyp-committee/ Questions about membership? Please contact Davide at icc@ icc.org.hk. Already a member? Follow us on Facebook: Italian Young Professionals in Hong Kong and Instagram: iyp_hongkong

March 12, 2019 - IYP Enrich Talk Series: Alberto Forchielli (Italian Journalist & Entrepreneur)

member’s s

spotlight

Member’s Spotlight

Nudo Bangles

How would you describe Pomellato in 3 words? Why?

MILANESE DESIGN

omellato’s understated, elegant style is inspired by Milanese fashion and design. The brand’s strong Italian tradition is revealed through masterful craftsmanship and uncompromising quality. Sensual volumes, iconic details and sophisticated shapes transform the jewels into objects of desire. Pomellato creations are uniquely daring with their unexpected combinations of colours and materials, surprising proportions and unmistakable design. Tactile and lightweight, each piece is also designed to be easy to wear.

CRAFTSMANSHIP

omellato is incredibly proud of being able to create and produce all of its jewellery at Casa Pomellato in Milan, thanks to a team of one hundred goldsmiths and artisans whose hands craft each jewel, from the beginning to the end. Our skilled and loyal craftsmen - most of them working in the company since the beginning of their career - are unmatched masters of beauty and precision and they have come to represent an essential element of Pomellato DNA. Pomellato is one of the few Maisons in the world that currently has an integrated creative atelier that works year-round to transform ideas and inspirations into jewels.

SUSTAINABILITY

omellato’s commitment to sustainability is underpinned by the company’s 100% responsible gold sourcing pledge, used in all the collections and achieved as an industry first in 2018. Pomellato is striving to build traceable and transparent sourcing for diamonds by working with the Responsible Jewellery Council and its ethical, social and environmental criteria. Pomellato goes further and also partners with other projects considered of value in terms of both positive environmental and social impact. These include the use of Fairmined gold – a certified source of gold direct from artisanal mines in Peru and Colombia - in certain collections such as the Nuvola. The Fairmined program empowers artisanal miners and their communities by working with mining organizations that are owned and operated by the local population. Once certified, the mines are audited every year to ensure safe working conditions, social development and environmental management of the operation and its surrounding areas.

omen are at the centre of Pomellato’s universe, since 1967. From the very beginning, Pomellato unconventional DNA has been echoed in provocative campaigns shot by world renowned photographers.

Tell us about a successful project that Pomellato runs.

#PomellatoForWomen is a powerful 360° communication platform, launched for the brand’s 50th anniversary in 2017 to promote a message of female empowerment, inclusiveness and diversity. Advocating for equality, female leadership, a more authentic idea of beauty. Uniting many inspiring women from various backgrounds, generations and nationalities. From Jane Fonda, to Cate Blanchett and Laura Dern, powerful women have lent their voices and visibility to support. Through the #PomellatoForWomen platform we created a community of like-minded, real women of all backgrounds and successes, to inspire others, to advocate and raise awareness on important topics, from gender equality to domestic violence. Understanding the power of luxury brand visibility, Pomellato uses #PomellatoForWomen platform to ignite and promote change.

P What are the special relationships between Pomellato and Hong Kong?

omellato opened its first boutique at IFC Central in 2016 and our fans and followers in Hong Kong fell in love with the beautiful iconic colourful jewels the brand has been creating for more than 50 years in Milan. It was more than a decade ago when Pomellato jewellery creations were first introduced in Hong Kong. As a global, international brand we have a following of local natives and expats who appreciate the unique Milanese story behind Pomellato just as Hong Kong has a very interesting, unique story to tell.

Catene - Iconica Bangles

Company Profile

P Nudo Rings

omellato was founded in 1967 as the jewellery brand for the independent woman. Renowned for creativity, bold use of coloured gems and Italian craftsmanship, each jewel is handcrafted by expert goldsmiths at Casa Pomellato in Milan. Pomellato’s immediately recognizable collections range from the House signature Nudo, with its ‘naked’ coloured stones, to the goldsmithing creations of Iconica and Catene. The brand has successfully evolved into High Jewellery, creating one-of-a-kind masterpieces for La Gioia. A social and environmental frontrunner, Pomellato has championed countless initiatives to support women empowerment and combat violence against women.

Member’s Spotlight

How would you describe Lincoln in 3 words? Why?

We’re All Talents! Lincoln Values are core to our success:

Nurture Talent - Build lasting relationships

Every day, we build an ongoing relationship with our Talents and Lincolnians so that everyone can develop and rise to their full potential in an agile and learning environment. Excellence, sharing and transmission are keywords to deal with a constantly changing society.

Accountable Role Model - Be a trusted partner

We are trusted partners. The sense of responsibility and ethics that drive us on a daily basis condition our actions and commitments to our Talents. We aspire to positively influence our surrounding community and move towards a fairer society.

Generosity - Engage with passion and energy

We empower our Talents with passion and energy. We share our expertise and time generously and willingly, so that everyone can grow and blossom to their fullest potential. We support and cheer our Talents in order to bring out the best in them.

Audacious spirit - Create Real Impact

We work together to create a real impact on our talent communities so that our curiosity, tenacity and convictions can make a real difference alongside our Talents. We dare to innovate by encouraging risk-taking and bold initiatives in order to progress towards a better future.

Lincolnians, candidates, clients, prospects,

We’re All Talents!

Tell us about a successful project that Lincoln runs.

t Lincoln, we are convinced that confidence is key for both selfaccomplishment and business growth. Talents who are confident and serene about their mobility are able to focus and give the best of themselves, becoming a powerful engine for corporate development. We also truly believe that a professional journey shouldn’t be seen as a sequence of opportunities: it must be based on a long-term vision, expression of a real ambition reflected in a strong professional project we define hand in hand. This is why we are Talents Agents: allies our Talents can trust and rely on, aiming to advise and empower them.

We devote our energies to nourish and inspire our Talents, to make them evolve and grow, to give them the will and the ability to overcome their apprehensions and always go further. We also help them build and develop the best teams they need. Individuals, teams, companies: let’s thrive, together.

e have 30+ years of successful projects across Europe and Asia!

What are the special relationships between Lincoln and Hong Kong?

Since 2017, Hong Kong has been one of Lincoln’s signature offices and one of the reasons is definitely our approach and special relationship with the city. Despite the pandemic, we have been growing year on year and built very trustful relationships while supporting our Talents during this challenging time. We work closely with start-ups, SMEs and MNCs to help them to recruit, retain and develop their Talents.

Thanks to our expert consultants, we can support companies in various sectors such as Consumer (FMCG, trading, retail, fashion, luxury), Financial Services, Insurance, Technology/Digital/ Innovation or Manufacturing. We provide end-to-end Talent Management services across the region, working very closely with our China and Singapore offices.

Company Profile

incoln offers 360 Talent Management services including Executive Search (middle to top management), Executive Interim Management, Leadership Advisory (assessment, coaching, workshops and trainings) and Outplacement.

Hong Kong is the fastest growing office with our team of experts in diverse practices such as Consumer (FMCG, trading, retail, fashion, luxury), Financial Services, Insurance, Technology/Digital/Innovation and Manufacturing. We are providing the right tailor-made approach and full end to end service by prevailing high flexibility together with professionalism, liaising and supporting all organization’s executives, managers and experts. Since 1992, recruiting advisory experts of Lincoln identify and support leaders and talents to provide companies in all sectors with a fine-tuned chemistry of competencies and soft skills. With offices in Hong Kong, Shanghai and Singapore, Lincoln Associates Asia is the fastest growing branch of the European Firm. Our commitment is to support the long term performance of MNCs and SMEs with stressfree seamless and inclusive professional mobility.

Member’s Spotlight

How would you describe ART PERSPECTIVE in 3 words? Why?

“Reliable - Serious - Dynamic” are three qualities that deeply describe ART PERSPECTIVE. Reliable and serious are two sides of the same medal. In the art world, these two qualities are essential if a company, like ART PERSPECTIVE, wants to achieve excellent results and fully satisfy its customers. Reliability and seriousness mean careful control and selection of the proposed

artworks. An accurate study on their provenance and authenticity. An academic valuation of their historical and artistic importance and, last but not least, the potential benefit that the collector will derive from his investment. Dynamism is a fundamental factor in a world that is constantly changing. Quick adaptations in a hyperactive international

art market, fast and articulate answers to complex questions, secure international transactions, constant research for new opportunities by proposing artists who can expand existing collections or who can combine them with important investments.

Tell us about a successful project that ART PERSPECTIVE runs

RT PERSPECTIVE started to represent the Noldor Residency (Institute Museum of Ghana) in January 2022. Founded in 2020 by contemporary African art specialist, social entrepreneur, and philanthropist Joseph Awuah-Darko, the

Noldor Artist Residency is an arts residency and fellowship program for contemporary African artists. Located in Accra, Ghana, and as the country’s first independent residency, Noldor is committed to nurturing the creative process of artists from Africa and its diaspora, while acting as a pillar for their introduction and development

within the Ghanaian and global contemporary art scenes. ART PERSPECTIVE is now selecting the most talented and promising African artists to promote in Hong Kong to local collectors, art lovers, and investors.

What do you love most about the art industry?

he art industry is like the continuous discovery of new worlds, unexplored lands, and hidden civilizations.

Art is a world in constant evolution and artists, thanks to their personal sensitivities, lead us to discover new emotions and new languages. An artist has the capacity to open doors to a world that belongs to all of us, but we do not have the right keys to interpret and understand it often. Art has been part of human beings since the earliest times. However, art is as dynamic as human beings are. Artists speak to us through their works. It may happen that many times we do not understand their creations. We do not understand what they want to communicate to us and therefore we do not understand their languages, their interpretations, their feelings. Moreover, it is precisely in this moment that if we pay more attention and push our limits further, we can get in touch with an unexplored world. Art can hold us many surprises and it is up to us to accept the challenge to enrich our lives.

Company Profile

RT PERSPECTIVE is a young and dynamic company, founded in 2019 by Italian art expert Alberto Annesi and his German business partner Thomas Bohrer. With Alberto and Thomas’s previous successful experiences in the art market in Hong Kong, Asia, and Europe, ART PERSPECTIVE immediately became one of the best performing and brilliant players in the city that promotes American, European and Italian art of the 20th Century. ART PERSPECTIVE’s experts conduct rigorous historical due diligence to ascertain the quality and provenance of the artworks, aiming to satisfy the sophisticated desires of its clientele. ART PERSPECTIVE offers the artworks of world-renowned 20thcentury artists, including Georges Mathieu, Zao Wou-Ki, Jacques Germain, Joan Mirò, Salvador Dalì, Sam Francis, Mario Schifano, Donald Baechler, and master sculptors like Igor Mitoraj and Gianfranco Meggiato.

cover

story

Cover Story

The Rise of the DAOs The Future of Investments and Corporate Governance

Filippo Buzzi

Partner, Head of Blockchain Desk, Fidinam Hong Kong A decentralised network

Filippo Buzzi is Head of Blockchain Desk and Partner at Fidinam Hong Kong. He has fourteen years of experience at the international level in the fields of accounting, taxation and finance. Within Fidinam, he has founded a team that focuses on consulting in the cryptocurrency sector.

What is a DAO

or those not familiar with the acronym, DAOs are described as Decentralized Autonomous Organizations.

Imagine a world where you meet inspiring and business savvy individuals online. You decide to start investing or running a business together without knowing each other, thanks to a decentralized system. Such a system is based on blockchain smart contracts (software) that allow you and your peers to make decisions autonomously, while providing governance outcomes. The first-ever DAO (The DAO) was born as a form of investor-directed venture capital fund. It had an objective to provide a new decentralized business model for organizing both commercial and nonprofit enterprises1. Despite being a pioneering and

forward-looking project, the DAO shortly collapsed after its inception due to the vulnerability of its code, when attacked by hackers. Since then, blockchain technology has advanced and security issues have been addressed: this has led to the creation of many successful projects that are shaping the new digital economy. DAOs’ activities span from investing and collecting digital art, collectibles and in-game assets (aka NFTs – see Flamingo DAO https://flamingodao.xyz/ ) to operating as VC for decentralized finance project (aka as DeFi – Maker DAO https://makerdao.com/en/ ). 1

https://en.wikipedia.org/wiki/The_DAO_(organization)

Why DAO?

ifferent from companies, associations and other entities, DAOs are transparent, incorruptible and immutable. Their functioning is trust-less as the law is

replaced by code. There is no need for decision-makers as governance is executed by smart contracts, so that human input is reduced for simple tasks.

Does a DAO really work or is it a fantasy?

s they are described, DAOs could be perceived as organizations operating in a distant future, science-fiction alike world. The reality is that DAOs have been now operating for years (making quietly their way in a new dimension of venture capital), generating tangible returns for their

members. As an example, DAO Maker, a SaaS solution for nascent and growing crypto DAOs, has facilitated dozens of projects that have generated an average ROI of 656% and an ATH ROI of 4472%2. 2 https://medium.com/daomaker/meet-dao-maker-ateth-denver-b8419596a84a

Endless applications – the real economy

pplications of DAO-alike models are endless. Other than investments entities, for example, a Pizzeria could be organized as a DAO. Its operating system (smart contracts) would keep its inventory tracked on a blockchain ledger, that can automatically create orders for suppliers based on historical customer orders demand (certainly with a peak of demand on

Friday’s eves!). The smart contract would automatically create an invoice for the store’s supplier, send it and specify the date of delivery. Once the order is delivered the smart contract would be notified by bar code scanners and this would trigger an automatic payment from crypto wallets of hungry customers. These are only some of the processes that can be automated thanks to blockchain technology.

Legal implications for DAOs

t the time of writing, it is not yet clear about applicable legal structures for DAOs, as lawmakers have not yet passed laws that can apply to such concepts. It is important to note that an exception is provided by the Marshall Islands, the first sovereign nation to recognize DAOs as legal entities, thanks to the amendment of its Non-Profit Entity Act.

Forward-thinking projects led by legal professionals, such as Openlaw.io are working around the clock to find solutions to accommodate decentralized systems in existing regulatory frameworks, most common examples are DAOs organized in Delaware as LLC organizations or Cayman foundations managed by regulated trustees.

What’s next for DAOs – the future of the internet

n our view, the rise of the DAOs is all about public, decentralized ownership, as opposed to existing tech giants that centralize enormous resources and profits (think about Facebook, Instagram, Tik Tok and others). DAOs, Web3 and Metaverses will create autonomous eco-systems that

will help to manage social networks, search engines, marketplaces and more in general businesses without giving up to the overlords of the Web2 internet, finally coming back to the envisioned project of the Web1, the real information democratization.

Philanthro

opy by iwa

Philanthropy by IWA

THE ITALIAN WOMEN’S ASSOCIATION IWA’s Committee on the day of the election

Promoting Charitable Giving Since 1996

ince 1996, the Italian Women’s Association (IWA) has been registered as a nonprofit organization, committed to the mission of charitable giving. Connecting Italian women and others who are interested in the Italian language and culture, and the camaraderie built around it, the Association endeavours to organize events and raise funds to help those in need. Thanks to the unpaid work and dedication of its board and

volunteers, IWA can devote 100% of its profits to charities in Hong Kong and Macao, to enable them to continue to serve the underprivileged. The Association organizes monthly activities such as social gatherings and cultural events, playgroups for children, excursions, lectures, and classes on different topics ranging from art, nutrition, cooking, embroidering to yoga. On top of these monthly activities,

One year of IWA

aving reached more than half of its mandate, IWA would like to tell you more about the charities helped throughout the year, thanks to its monthly events and “Il Mercatino di Iwa”, held at PMQ in November 2021, another great success in terms of attendance and amount raised. The Italian Women’s Association has been supporting for many years Operation Santa Claus and The Society for the Relief of Disabled Children, through successful collaboration and mutual partnership. Operation Santa Claus (OSC) is an annual charity campaign jointly run by the South China Morning Post and

IWA’s main fundraising event is “Il Mercatino di Iwa”, an Italian charity market day, which involves on an annual basis the local and international community in Hong Kong. Thousands of people gather every year to buy products kindly donated by the Italian companies, and sold through the hard work of IWA’s volunteers. If there is one thing that we are proud of, it is IWA’s mission in redistributing resources to those in need, while building a community of togetherness.

real change and support those in need in Hong Kong by driving fundraising initiatives.

Part of IWA’s Committee at Il Mercatino 2021

Radio Television Hong Kong. Its aim is to make a difference to the community and beyond by combining the fundraising power of two of the most respected news organisations in the city. Since 1988, OSC has brought over HK$333 million to 320 charities, working with corporates, donors and charitable projects to create

The Society for the Relief of Disabled Children (The Society) was established in 1953, with the mission to support medical, surgical, rehabilitation and educational services to differentlyabled children in Hong Kong. The Society established a convalescent home in Sandy Bay in 1955, which became later the Duchess of Kent Children’s Hospital at Sandy Bay, where IWA organized its first annual charity market. Despite the change in management, The Society still has a significant influence in the running of the Hospital, by supporting emerging areas of child health not available in the public health care system,

St. Barnabas’ Society and Home, is a local charity aiming to create a caring community, to support the poor and homeless, provide material aid and spiritual care, and help to reintegrate them back into society, not only by supplying food and shelter, but also counselling assistance.

Members of the Committee visiting an NGO

as well as areas of medical social concerns that fulfil the Society’s mission. Besides these long-term collaborations, IWA is in daily contact with different NGOs in Hong Kong, to support and reach the less fortunate ones: children, women, refugees, the homeless and the elderly. It is common practice for IWA during the year to save and devolve some of its proceeds to unexpected requests or last-minute emergencies. Last December, IWA heard of a new child born in a local community called Bethune House, and promptly helped by donating clothing items, sponsored during Il Mercatino, together with some money to meet the primary needs. Bethune House has been, since 1986, Hong Kong’s most reliable refuge for migrant women workers in crisis. It is a community-driven emergency shelter that provides food, medical and other assistance and enables migrant women workers to seek justice and achieve empowerment in Hong Kong. Also St. Barnabas’ Society and Home turned to IWA for help, seeking financial assistance and receiving one-month operating expenses in order to keep running the structure.

as well as the project RainLily of the Association Concerning Sexual Violence Against Woman (ACSVAW).

From time to time, IWA pays a visit to these NGOs in Hong Kong, to discuss their needs before sponsoring. That is what happened with a project funded by Care for Children, an NGO in charge of training the operators who deal with foster care and the adoption of orphan children. Another way to help the underprivileged is to dedicate the proceeds of a specific month to their cause. In October, for example, IWA promoted Breast Cancer Awareness, and supported women to reduce breast cancer risks, with donations to the Hong Kong Breast Cancer Foundation. Being March the month that marks the International Women’s Day, IWA has decided, in the past edition, to support Home Care for Girls (HCG) a non-profit organization helping young girls in crises. This NGO provides a safe and caring home-like environment where girls under extreme stress can experience compassion and live a stable life away from problematic family situations while working towards a brighter future. In November, on the anniversary of The International Day for the Elimination of Violence Against Women, IWA sustains Stop Trafficking of People (STOP), one of the Branches of Hope’s initiatives, with the goal to raise awareness about trafficking, in the fight against modern slavery,

Fundraising with Crust Italian

In the last few years, due to the Covid-19 pandemic, many NGOs’ needs and dynamics have changed to cope with the emergency of those who lost jobs and homes. For this reason, IWA in collaboration with Crust Italian, has recently promoted a new project, “Il Caffè sospeso”, to donate 1,000 sold coffees worth to Food Angel, Hanuman Charity and Hope Angels to provide meals for the homeless in Hong Kong. These and more projects are all possible thanks to the help and donation of our members and friends, who join our events and fundraising efforts to keep supporting the ones in need.

For more information on the Association, visit our website www.iwa.org.hk and social media, or write to secretary@iwa.org.hk

Business

s focus

Business Focus

Greater Bay Area:

Connecting opportunities to the future

n the works since the early 2000s, the Greater Bay Area project is one of the most ambitious and innovative plans that involve the biggest urban area in the world. Counting over 86 million in population and with a GDP of USD 1,668.8 billion, the “Guangdong-Hong Kong-Macau Greater Bay Area” is motivated to design modern policies that will be quite beneficial to the development of the area while creating better job opportunities for all the ones involved. After signing the Framework Agreement on Deepening Guangdong-Hong Kong-Macau Cooperation in 2017, the governments of each country felt more motivated to establish

deeper relations so that the entire Greater Area could develop further. The policies that we will present are Innovation and Technology, Financial Services and Transportation & Logistics.

Innovation and Technology

The Innovation & Technology policy focuses on bringing new job opportunities to young people through funding in research and development (R&D). So far, the Mainland Government has already invested more than $100 billion mostly towards two InnoHK research clusters on healthcare technologies, artificial intelligence and robotics in Science Park.

Guangzhou focused on biomedical research and development. The two parties also launched the Mainland-Hong Kong Joint Funding Scheme in 2019 that allows universities and research institutions to apply for science and technology funding from the Central Government and other municipal governments of the Mainland to use the relevant funding in Hong Kong.

The government is investing in local universities and research groups as universities in Hong Kong are consistently on the world’s top ratings, therefore the government is focusing on AI and other technological endeavours. In November 2018, the Mainland Government and the Chinese Academy of Science (CAS) signed a memorandum of understanding that affiliates institutions from Hong Kong and

The Government has published the Smart City Blueprint to strengthen Hong Kong’s attractiveness to global business and talent while promoting sustainable economic development. The Blueprint covers 6 areas, namely “Smart Mobility”, “Smart Living”, “Smart Environment”, “Smart People”, “Smart Government” and “Smart Economy”, with more than 70 initiatives.

Financial Services With Hong Kong’s financial advantage, the city has been closely connected to the Mainland’s development for the past four decades. Due to its robust financial regime and strong international connections, Hong Kong has played a significant role in helping the Mainland to become the world’s second-largest economy. Hong Kong has served as a two-way gateway to connect the Mainland to other international markets. Currently, more than 1,100 Mainland enterprises are listed in Hong Kong with a combined market value of over US$2 trillion. On the other hand, with the launch of the offshore Renminbi (RMB) business in 2004, Hong Kong has become a global hub and has been handling over 70 per cent of the world’s offshore RMB’s transactions. With this significant economical program, the Government has also been actively promoting the development of green finance and, under the Government Green Bond

Programme, with an issuance size of US$1 billion and a tenure of 5 years the Green Fund was launched in September 2021 to promote transparency in the investment process. As for the insurance and bond market, Hong Kong is the premier choice for Mainland companies focusing on risk management because of its high insurance density and because its bond market ranks third in terms of issuance after Mainland China and Korea.

Transportation and Logistics Hong Kong has always had an advantage in the transportation industry because of its very strategic position and therefore, the Government is aiming to consolidate the city’s role by turning it into an international aviation hub, international maritime centre and regional logistics hub. The Airport Authority of Hong Kong (AAHK) is planning to enhance its intermodal facilities and to strengthen Hong Kong’s International Airport’s role as an aviation hub by connecting passengers from the PRD region via the HZMB (Hong Kong Macau Zhuhai Bridge) for outbound flight to the restricted area of HKIA direct. In order to enrich travellers’ experience, the AAHK is also taking forward the “SKYCITY” project: integrated retail, dining and entertainment destination bound to become a unique tourist attraction.

As for its port, Hong Kong has one of the busiest ports in the world, as the nine Kwai Tsing Container Terminals provide 24 berths operating round-theclock.

Another important transportation project is the To create a stronger synergy between Hong Kong- introduction of the Guangzhou-Shenzhen-Hong Zhuhai-Macao Bridge (HZMB), the Guangzhou- Kong Express Rail Link (XRL) in 2018, which Shenzhen-Hong Kong Express Rail Link (XRL) and connects with the national high-speed rail network the HKIA, the AAHK has made available check-in and significantly shortens the travelling time services at the West Kowloon Station of XRL and between Hong Kong, Shenzhen and Guangzhou, the Hong Kong Port of HZMB. Such services are along with other cities in the PRD. also available at various ports and stations in PRD cities and Macao. The coverage of such services All of these initiatives have proceeded smoothly and will continue to expand in different locations in have given motivation to all three areas to further PRD cities in the future to provide excellent and utilise the HZMB. convenient services to passengers.

Business Focus

Creating opportunities in GBA with cross-border collaborations of CRAs

Representative of Industry and Information Technology of Guangzhou Nansha Economic Development and Technological Development Zone signed the cooperation agreement with the General Manager of Nova Nansha.

RIF is a global company specializing in credit referencing, business information, digital solution and software covering the entire credit life cycle and customer digital Journey. CRIF’s continuous commitment in investing in the region is evident by the fact that CRIF became a significant minority shareholder of Nova Credit Limited (“Nova Credit”) in 2018. Nova Credit is a newly established consumer credit reference agency with a diversified shareholder base consisting of CRIF, local Hong Kong banks as well as data and tech providers. Nova Credit focuses on building a contemporary financial information platform utilizing data intelligence and Fintech solutions, and has been

recently shortlisted as tenderer for Multiple Credit Reference Agencies (“MCRA”), a milestone project led by The Hong Kong Association of Banks in introducing more than one credit reference agencies in Hong Kong. In line with the National Development and Reform Commission’s recent announcement, CRIF and Nova Credit will be contributing to the social and economic development of the Greater Bay Area (“GBA”) through cross-boundary data mutual recognition and the implementation of cutting-edge technologies supporting the integration of tech hub like Shenzhen and encouraging more cross-boundary development.

Screening capture at the conference held in Qianhai about Corporate Credit Report Format Specification.

The first “Greater Bay Area Cross-boundary Data Mutual Recognition Platform” in Nansha, Guangzhou

n November 29 2021, the first “Greater Bay Area Cross-boundary Data Mutual Recognition Platform” (Nansha platform) was officially launched and Nova Nansha, Nova Credit’s joint venture company in Nansha, China, was appointed as the business operator for this platform.

Municipality. As the appointed business operator, Nova Nansha provides legitimate, reliable and secured digital channels for cross-boundary identity verification which is an innovative Know You Customer (“KYC”) solution for financial institutions in GBA.

During the launch event, the local authority of Industry and Information Technology of Guangzhou Nansha Economic and Technological Development Zone, as well as various banks in Guangdong province, signed a cooperation agreement with Nova Nansha, signifying that the first cross-boundary identity verification service for individuals is officially available for government and enterprises in Guangdong and Hong Kong.

Before that, cross-boundary verification can only be supported by physical documents which would usually take 8 to 10 working days to complete the basic approval process in banks. The cross-boundary KYC solution allows financial institutions in Hong Kong to verify identity and conduct customer due diligence through legitimate data sources in Mainland with the explicit consent of Mainland customers in a much more efficient way.

Nansha has been designated as one of the three main platforms for deepening regional cooperation by the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area issued by the State Council since February 2019.

With stringent network security and privacy protection measures, a simple “Yes” or “No” will be reverted to confirm the accuracy of information provided by the customer, and the approval process can be drastically shortened to approximately 20 minutes by utilizing data verification service provided by the Nansha platform.

Moreover, China has tightened control over crossboundary data flows, with the Data Security Law rolled out last September, and the Personal Information Protection Law taking effect on November 1 2021. Both have imposed stringent penalties for the unauthorized collection, processing, storage and use of data generated in the country. Nansha platform is fully funded by the government, Nansha District People’s Government of Guangzhou

Apart from minimizing enquiry to customers and speeding up the data verification process, it also ensures correct data entry and reflects the current status of customers. The cross-boundary KYC solution will promote the overall development of the financial industry in the GBA and speed up crossboundary financial connectivity in GBA.

Business Focus

Constructing the first Cross-border credit standard system in Qianhai, Shenzhen

n line with CRIF business scopes, Nova Credit is committed to establishing an international scoring standard and rating model approved by foreign financial institutions, so as to align the GBA rating standard in an organic way with international standards and practices, helping private and public entities to attract high-quality foreign capital. On December 13 2021, the first Corporate Credit Report Format Standardization Conference was officially held in Qianhai. The conference was joined by 12 contributing entities, with participants from Nova Credit, CRIF country offices in the Philippines, Malaysia, Vietnam, as well as seven domestic credit agencies.

Company Profiles

stablished in 1988 in Bologna (Italy), CRIF operates over four continents and currently is the leader in continental Europe in the field of banking credit information and one of the main operators on a global level in the field of integrated services for business & commercial information and credit & marketing management. Moreover, CRIF is included in the prestigious IDC FinTech Rankings Top 100, a ranking of the leading global technology solution providers to the financial services industry, and in 2019 completed its coverage as an AISP in 31 European countries where the revised Payment Services Directive is applicable. Today over 10,500 banks and financial institutions, 600 insurance companies, 82,000 business clients and 1,000,000 consumers use CRIF services in 50 countries on a daily basis.

The standardization has set up the basic rules and corresponding relationships of corporate credit reports through summarizing and sorting out the common corporate credit report paradigm in the countries and regions where the contributing entities are located, which will serve as the mutual recognition basis for corporate credit reports in different countries and regions. The construction of a cross-border credit standard system will help solve the problem of mutual recognition of cross-border credit products due to inconsistent standards of cross-border credit caused by different institutional mechanisms, legal systems and market segmentation. It also contributes to sustaining commercial financing across GBA and Southeast Asia, which is part of the core competence and mission of CRIF in Asia.

As a technology company, sustainability is nothing new to us. It has been a core part of our business for more than 25 years. Now we want to take the next step to go beyond our current goals and achievements.

Accelerating sustainability, together. Join us.

Business Focus

The Future in Logistics

ith a population of roughly 86 million and a combined GDP of US$1.7 trillion, it’s no surprise that the Greater Bay Area (GBA) is going to play a key role in the steady economic growth of China. To contextualize the numbers, the GBA’s economy is already greater than some G20 economies, it is renowned to be the largest production area in the country, making it one of the most affluent regions in China, and attracting a very large number of capital investments. The project objectives are to further deepen cooperation amongst Guangdong, Hong Kong and Macao, fully leverage the composite advantages of the three places and facilitate in-depth integration within the region. With the GBA Initiative, Hong Kong aims to consolidate and enhance the city’s status as international transportation and trade centre as well as an international aviation hub and maritime centre. In terms of the development of the ocean freight capabilities, the GBA is designed to enhance the international competitiveness of the PRD port cluster, treated as one individual entity. The main objective is to progressively increase the overall capacity of international shipping services of Guangzhou and Shenzhen, further enhance the service efficiency of infrastructural facilities including ports and fairways, form a complementary and mutually beneficial system of port, shipping, logistics and ancillary services with Hong Kong.

Freight Forwarders and logistics operators will benefit greatly from such expansion plans of the major coastal ports and the improvement of cargo distribution, through an efficient network of inland waterways, port railway lines and motorways. In parallel, Hong Kong will also support the development of high-end maritime services such as ship management and

leasing, ship finance, marine insurance as well as maritime law and dispute resolution services, and provide such services to Mainland and Macao enterprises. On the other hand, the airfreight scenario will see Hong Kong play a particularly central role. Today, almost the entire quantity of cargo shipped via airfreight out of HKIA is produced within the GBA region, and around 50% of the cargo imported is destined to the South China market. In this respect, many logistics operators like JAS are routing their charter flights into Hong Kong, benefitting from its efficiency in terms of cargo clearance and its ideal geographical position, allowing us to serve customers in a timely manner not only in China but also in South East Asia.

o ensure that Hong Kong’s future in logistics will keep thriving for years to come, investments have been made under the GBA initiative: by 2024 the ‘Third Runway Project’ at HKIA will be completed, alongside the development of a new dedicated cargo logistics centre, Kwo Lo Wan, essentially increasing the handling capacity of the express air cargo terminal by 50% and servicing the e-commerce business. As online shopping increases its outreach, with more and more people working from home, demand for essential commodities raises hugely; online orders and home deliveries are a new trend that cannot be overlooked, and future service expectations will change accordingly. Therefore, a well-equipped and technological facility such as Kwo Lo Wan, will easily become an appealing partner for Freight Forwarders like JAS, already fully invested in the E-commerce sector. JAS has in fact recently acquired a primary supply chain management company named Tigers, as a strategic move that broadens the company’s range of logistics services, adding omnichannel supply chain management capabilities, supported by advanced digital solutions that will help our customers ramp up their B2C e-commerce operations.

The GBA has the potential to extend its reach beyond the Pearl River Delta region. In the longer term, it should be able to act as a catalyst for China’s broader Belt and Road Initiative, where Hong Kong should strengthen its role. Now more than ever, it becomes a necessity to build a modern comprehensive transport system, able to move cargo as well as people in an efficient way.

Company Profile

AS Hong Kong, incorporated in 1980, is one of the top market leaders in Italy - Far East Air and Ocean freight forwarding business. The network was soon expanded to China with its headquarters in Shanghai. Today, JAS’s strategic presence in the major cities of China includes 18 self-owned offices to cope with the ever-increasing needs for logistics services. The organization has over 710+ specialized staff and offers consolidation and logistics warehousing services in 28 locations across mainland China.

As Hong Kong is one of the World’s busiest container ports and the World’s busiest international airport, and the Third Runway System is expected in 2024, JAS has fully leveraged these advantages by developing a closely connected network in Greater Bay Area (GBA), including Hong Kong, Shenzhen, Guangzhou and Zhongshan to provide first-class, comprehensive, and customer-focused services. Our expertise in E-commerce logistics, Distribution and Warehousing service further complements Hong Kong’s high global connectedness and its role as a regional logistics hub in GBA.

Business Focus

From Greater Bay Area to Greater Tech Area New opportunities for Italian companies and investors in Hong Kong and beyond

lans to turn the Greater Bay Area (GBA) into a global technology and innovation powerhouse are gaining momentum, opening new opportunities for Italian investors and entrepreneurs. The GBA is a cluster of 11 cities, which include the special administrative regions of Hong Kong and Macau as well as the mainland metropolis of Shenzhen and Guangzhou, among others. It is now one of the key pillars of China’s strategy for opening up while securing critical products and technology, as the world’s second-largest economy seeks to strengthen its industrial supply chain.

Hong Kong

on research in biomedicine, big data and artificial intelligence.

n 24th February, Hong Kong’s Financial Secretary Paul Chan unveiled a raft of new measures that will boost funding for technology companies as he delivered the annual city budget speech.

The hub will be based in a future “technopole” – that is, a cluster of hi-tech and information-based companies. It will be based in San Tin, an area bordering Shenzhen, as announced earlier in October by Hong Kong leader Carrie Lam during her annual policy address.

Chan revealed that the city’s top financial watchdog, the Securities and Futures Commission (SFC), and the bourse operator HKEX are considering to reform IPO rules to allow pre-profit or pre-revenue advanced technology companies to list on the Hong Kong Stock Exchange.

The Technopole on the Hong Kong side and the Shenzhen I&T Zone will form a Shenzhen-Hong Kong innovation and technology cooperation zone of about 540 hectares, which is expected to play a key role in the development and integration of the Greater Bay Area.

The budget speech also outlined a series of government-led investments in technology. The Hong Kong Growth Portfolio will pour HKD 5 billion into a strategic tech fund for local startups and another HKD 5 billion into a Greater Bay Area investment fund focused on opportunities in Guangdong province.

Intensified collaboration between Hong Kong and mainland Chinese authorities are also expected to bear fruit in fintech – a key area for Hong Kong plans to consolidate its position as a world-class financial centre.

The Hong Kong government will also earmark an additional HKD 10 billion for the development of life science technology. In addition, Chan reiterated plans for the establishment of an “InnoLife Healthtech Hub” to bring together 24 laboratories to focus

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) recently agreed to create a one-stop sandbox platform in the Greater Bay Area that will allow financial firms and technology companies to develop cross-border fintech products faster and at a lower cost. The HKMA is also working with the PBOC on the possibility of using the Chinese digital yuan – also known as e-CNY – in Hong Kong.

Shenzhen

n January, China’s National Development and Reform Commission (NDRC) – the country’s top economic planner – and the Ministry of Commerce (MOFCOM) issued a blueprint to accelerate institutional reform in Shenzhen in areas such as technology, finance, health care, education and transport.

doubles down on efforts for technological self-reliance amid increasing geopolitical rivalry with the United States. In addition, authorities plan to

allow mainland Chinese companies or citizens to set up schools for the children of foreign residents who work in Shenzhen, making it easier for firms in mainland China to attract foreign talent.

The city – which is known as China’s Silicon Valley – has been a poster child for China’s economic opening-up since the early 1980s. The NDRC and MOFCOM called for the establishment of international platforms to improve semiconductor sourcing and data exchanges as China

Macau

n September, China’s top central authorities – the Communist Party’s Central Committee and the State Council – issued a plan for building a Guangdong-Macau “in-depth cooperation zone” in Hengqin island. While Hengqin is mainland Chinese territory, parts of it have been leased to the special administrative region of Macau. In those areas, Macau law applies. The latest plan is intended to turn the island into a new platform to boost Macao’s economic diversification from the gaming industry. Among others, it calls for the development of scientific and technological

research and high-end manufacturing in the zone, highlighting industries such as integrated circuits, electronic components, new materials, new energy, big data, artificial intelligence, the internet of things and biomedicine.

Useful contacts Italian startups can establish their base here: ● Hong Kong Science & Technology Park (HKSTP) https://www.hkstp.org/en/ ● Cyberport https://www.cyberport.hk/en Information about Greater Bay Area: https://www.bayarea.gov.hk/en/opportunities/ it.html Free advice and services for companies: https://www.investhk.gov.hk/en/home.html

Riccardo Ghia is an Italian financial journalist based in Hong Kong. He currently serves as Research Editor APAC at global financial news and data service Mergermarket (ION Group).

Talk of t

the town

Talk of theFocus Town Business

Talk of the Town

art, culture

e & lifestyle

Art, Culture & Lifestyle

Design Made in Hong Kong 2022 edition

Stefano Fossati Director Italian Cultural Institute Hong Kong & Macau

“The post-contemporary Object”

esign Made in Hong Kong is a project launched in 2019. It is the evolution of a project I curated during my mandate as the Director of the Italian Cultural Institute in Osaka. The main inspiration and goal of the project is the creation of a working dialogue between Hong Kong and Italy in the field of Design. Hong Kong and Italy have a long history of cultural and business exchanges where Design plays a strategic role. For this reason, it was relatively easy to create a vast network of enthusiastic collaborators and partners, including academics, professionals, companies, and students. The participation of many qualified students was a distinctive highlight of the project. In 2020, teams from three Universities from Hong Kong, in close contact with Italian designers, worked on subjects crucial for the future of Design: objects and materials that matter; the definition of furniture to enhance communication internally and externally; new concepts of quality living in the tiny home environment. The exhibition “Milan - Hong Kong Design: New Forms and Functions in Parallel with Italian Iconic Works”, held at the Hong Kong Arts Centre (March 26 to April 4, 2021), showcased prototypes and projects made by the universities, and the creations of the three Italian designers (Federico Peri, Sara Ricciardi and Federica Biasi) who had worked with the teams. The third sector of the exhibition, called “Italian Design Masters”, was intended to guide the visitors through works that made the history of Design in the world. Aldo Cibic, Alessandro Mendini, Ettore Sottsass and Gaetano Pesce, were some of the creators of the “Italian iconic works” on display. This third sector was generously curated by Mr William Figliola, founder of the Novalis Art Design Gallery in Hong Kong. Despite all the difficulties we had to face in

the last two years, the projects and prototypes from the Hong Kong universities could travel to Milan during the Milano Design Week in September 2021, thanks to the 5Vie Association. It was the third part of the exhibition, dominated by the revolutionary style of Memphis design and the intuition of William Figliola, that inspired the present edition of Design Made in Hong Kong 2022. The new edition of the project keeps the same pattern and spirit of the previous one: creating a solid and practical connection between Italian and Hong Kong creativity in the field of Design at various levels (professional, educational, and industrial) with great attention to the young generation. The main partners of the 2022 edition are the Hong Kong Design Institute and Novalis Art Design Gallery. The Hong Kong Design Institute (HKDI) is a leading design institution providing high-quality education and nurturing emerging talents who underpin the creative industries in Hong Kong. HKDI’s design departments (Architecture, Interior and Product Design, Communication Design, Digital Media and Fashion and Image Design) offer students a threeyear university degree pathway from a Higher Diploma to one-year Bachelor degrees offered by reputable universities in the UK. The “think-and-do” of HKDI gives students opportunities to acquire hands-on experience and participate in global exchange programmes in collaboration with local and international academic and industry partners.

ounded in 2012 by William Figliola, Novalis Art Design is one of the most innovative and creative galleries in Hong Kong. Its exhibitions showcase a constant dialogue between Art and Design, mainly focusing on the Memphis Group design movement - the famous Italian design movement founded by Ettore Sottsass in 1981. The artistic approach to furniture design introduced by Memphis in the 80s that was then adopted by a large part of the world is still influential in the contemporary visual scenario, awakened by native digital aesthetic languages characterized by bright colours and deconstructed geometries, according to an “insta-friendly” approach designed to look good on one’s small screen smartphone (and to encourage e-commerce).

Installation view of the Italian Design Masters section of ‘Milan - Hong Kong Design: New Forms and Functions in Parallel with Italian Iconic Works’ exhibition, Pao Galleries, Hong Kong Arts Centre

The great opportunity that presents itself in Memphis today is combining the firepower of the visual languages typical of social networks (Instagram in the first place) with the cultural density of a brand that has made the history of post-modern Design. “With this in mind, each student will design a lamp that declines the aesthetic identity of Memphis in a way that is consistent with the brand and, at the same time, in line with the new aesthetic sensibilities native to digital networks, thus bringing the freshness of the new contemporary visual scenarios into the real product, defining a new contemporality in which the physical product speaks the language of the digital image, turning it into a “solid”, physically present element,” says William Figliola, curator of the project. The project created by the team will be on display, together with a retrospective of the Memphis production, at the Hong Kong Convention and Exhibition Centre as a part of the Italian Pavilion at the [25 years of Design] exhibition (May 12 to May 15, 2022).

Italian Design Masters section of ‘Milan - Hong Kong Design: New Forms and Functions in Parallel with Italian Iconic Works’ exhibition, Pao Galleries, Hong Kong Arts Centre, from left to right: Nilo by Ettore Sottsass, Colorado by Marco Zanini, Tigris by Ettore Sottsass

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Suite 3201, 32/F Central Plaza 18, Harbour Road, WanChai, Hong Kong www.iichongkong.esteri.it iichongkong@esteri.it

Italian Cultural Institute

Art, Culture & Lifestyle

Cooking ‘Under Wraps’ Rediscovering a simple and healthy cooking method by Giancarlo Burri - Padua Academician

elicate, flavoursome, diet-friendly and, why not, even picturesque? A cooking technique with all these prized qualities is hard to find, yet one that encompasses them all has been practically banished and forgotten because of the increasingly minimalist cooking style in restaurants and the desire for quick and easy methods at home. Why not rehabilitate it, especially since the ardently desired return of conviviality and social interaction is on the horizon after the heavy restrictions necessitated by the coronavirus emergency? Cooking food within a wrapping, whether of metal, paper or other vegetable matter, is a technique with very ancient origins. The ancient Greeks, for instance, often cooked eels wrapped in chard and mackerel in fig leaves. The Longobards had the custom of embellishing food presented at aristocratic banquets by serving it wrapped in precious gold leaf, while chefs in the 16th and 17th centuries often used wrapped baking to finish particularly elaborate preparations, such as tuna “wrapped in paper and cooked under the embers, served with lemon juice and crushed pepper, with delicious results”, by Bartolomeo Stefani (The Art of Good Cooking,

1662). Many leaves are used, even today, in ‘wrapped cooking’ throughout the world: banana leaves in the Philippines, Indonesia and Polynesia; agave, maize or avocado leaves in Mexico and Guatemala; and vine leaves in Lebanon and Greece. The food can be steamed or baked in an oven or underground, heated by stones. The wrapping is there to keep the food soft and moist, through a type of convection whereby the moisture within the food, upon reaching the right temperature, forms vapour which cooks the food, releases fats and aromatic substances while preventing drying and flavour dispersal: in essence, the food quickly cooks in its own juices because it is surrounded by humid heat. It is prudent, when cooking in this manner, to leave some space between the food and its wrapping, thereby allowing vapour to circulate sufficiently. Besides being fast and easy, wrapped cooking is also among the healthiest cooking methods as it greatly limits the loss and alteration of minerals and vitamins while reducing or eliminating the need for cooking fat, lowering calories, which is helpful for dieters.

Baking paper, derived from the older parchment, is cheap and rather heat-resistant, normally retaining its integrity until 220°C, beyond which it could begin falling apart: hence the common warning on its packaging against use above 220 degrees. Moistening it with water will prevent it from browning. To contain food completely, the wrapping should be thrice its width and twice its length, and can be made watertight by sealing it shut with egg white or a flour and water ‘glue’.

he most recommended ‘wrapped cooking’ method is oven-baking, taking care not to place the parcel directly on the oven grill but rather on a baking sheet or tin to catch possible drips. An interesting British publication by Vera, Countess Serkoff (Paper Bag Cookery, 1911) provides much useful advice for cooking in paper wrapping, as well as interesting meat, fish and vegetable recipes. For cooking on a hot plate or grill or under ash, the most suitable wrapping is aluminium foil, which is malleable and easily sealed; food should face the dull side to limit oxidation. One should remember that very salty or acidic (e.g. with lemon or vinegar) contents might react unpleasantly with the metal, causing altered fragrance and colour. Also, since insufficiently moist foods might stick to the wrapping during cooking, the foil may have to be preventively greased. Innovative and practical, Fata (‘fairy’) cooking paper, invented by the Veronese chef Fabio Tacchella and sold since 2004, resists not only high temperatures (up to 230°C for its professional version) but also very low ones (until -30°C). Convenient, sealable preformed Fata bags of the same material also permit high-temperature vacuum cooking. For die-hard ‘green cuisine’ aficionados, wraps can be fashioned from outer cabbage leaves, the large outer layers of leeks or tender vine leaves, blanched in boiling water: delicate, and edible too! Why not refresh our memory and skills by revisiting one of the many delectable classic recipes for parcel-cooked fish, vegetables or meat? Brought straight to the table, these delicious little packets release a surprising symphony of aromas and flavours which will delightfully envelop us the moment we unwrap them.

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

Art, Culture & Lifestyle

taly is a country where superstitions reign: from lucky charms to always wearing the same clothes or shoes for a big event…And let’s face it, you also have your own “just in case” rituals, don’t you?! The origins of such folk beliefs are the most varied: from Ancient Rome to our grandparents’ rural tradition: they have been passed down through generations and to this day. We bet in the future there will always be someone counting the years of bad luck coming from breaking a mirror! For all the superstitious out there, we are here to give you all the useful tips and secrets to driving away any bad luck. We will go through the most popular beliefs, the story behind them and, most importantly, the remedies! So, let’s start with the dos and don’ts when eating with family and friends!

It’s Not True…

But I Believe It Too!

Italian folk beliefs and remedies

Cheers! (But look at me!)

hy do we look each other in the eyes when having a toast? This practice has become even more popular in the last decade as we strongly believe this to be a good-luck ritual but has indeed ancient origin back to both the Middle Ages and Ancient Rome. As a sign to show loyalty and honesty, this practice was first introduced in the Middle Ages because poisoning someone’s food or wine was a common way to eliminate enemies. So, by cheering and making each others’ glasses touch while maintaining eye contact, participants could show their respect and honesty. The reason why glasses have to touch with each other is that this way some of the poison was likely to spill in other people’s glasses and this way unveiling the poisoner!

Dining in 13 people? …No thanks!

o, it is not because of Covid, this superstition is linked to the Christian tradition. 13 was indeed the number of people during the well-known “The last supper”, including Jesus. This led to the belief that having 13 diners could bring misfortune or even death to the guests and especially to the 13th one. So, what should we do if we cannot find the 14th guest? There is a very simple remedy: all you need to do is set and prepare the table also for the unknown 14th person and fill his/her dish as well!

Spilling salt can be very dangerous!

hy is spilling salt bad luck?! Well, in ancient times salt was extremely precious: as a matter of fact, soldiers in the Roman army were sometimes paid with salt instead of money. For this reason, their monthly wage was called “salarium” (being sal the Latin word for salt) and guess which word originated from that? Yes, “salary”. So, spilling salt would mean wasting money! What to do if some salt is spilt on the table, then? Very simple: just pick it up with your right hand and throw it behind your left shoulder three times. Why the left shoulder? Simple: because that is where the devil is believed to be.

Pouring wine “the traitor way”…

taly and wine are definitely an inseparable binomial, ergo there are plenty of guidelines when it comes to pouring and serving wine to guests. One of the most interesting rules comes straight from medieval times when wine was served basically during every meal. Wine was such a common drink that it was used to celebrate, to grieve but also a common way to kill someone. You too must have seen plenty of film scenes in which assassins pour carefully poison in a wine glass directly from a ring they are wearing. How do they manage to do it you may ask? By holding the wine bottle from the bottom with their palm facing up so that they can easily release the poison from their ring directly into the victim’s glass. This is why this way of pouring wine is called “alla traditora” and it is quite frowned upon to this day still, while also being a very inconvenient way to pour wine!

“The executioner” bread!

o understand the importance of bread in Italian culture, simply open “I Promessi Sposi” (in English “The Betrothed”, one of Italian literature finest pieces) and look for the chapter in which one of the protagonists, Renzo, arrives for the first time in Milan. The city is afflicted by famine and the people of Milan are attacking the bakeries trying to collect as much bread as they can. Renzo notices that in the middle of the unrest, tons of loaves and flour have been scattered all over the ground, which is a view that horrified him. For Renzo, and for our grandparents too, bread is a holy food, because it is fundamental to our diet and wasting it is a sin. In addition, bread has always been so important in Italian society to the point that every social class had its own type of bread: white bread for the aristocracy, bran bread for the lower class and so on. Even the executioners had their own type of bread! But unfortunately, many bakers were not willing to make bread to someone who would execute (often not-guilty) people. But, after being forced by the king, bakers had to start making bread for executioners but would still give them the worst type of bread and would store it upside down as an insult. This is why you should never put bread upside down on your table: or else the executioner will come to your house and collect his bread!

Stay tuned for the next episode of Italian folk beliefs and remedies! For information on how to improve your Italian or learn it from scratch, you may contact: DANTE ALIGHIERI SOCIETY HONG KONG Room 702, 7/F, Hong Kong Arts Centre, 2 Harbour Road, Wan Chai, Hong Kong ladante.cc | dantealighieri@ladante.cc

What’s on h

hong kong

What’s on Hong Kong

Events Overview

Art

“Lacloche, Parisian Jewelers, 18921967” Exhibition Affordable Online Art Fair & Affordable Art Fair Art Basel Hong Kong 2022 Art Central 2022

Festivals Le French May

Local Festivals Qing Ming Festival (清明節) Tin Hau Festival (天后誕) Buddha’s Birthday (佛誕) Cheung Chau Bun Festival (包山節) Dragon Boat Festival (龍舟節)

“Lacloche, Parisian Jewelers, 1892-1967” Exhibition Bringing together over 40 Lacloche Frères pieces of jewellery and precious clocks from around the world, the “Lacloche, Parisian Jewelers, 18921967” retrospective exhibition is an astonishing monograph that retraces the fascinating history of this great Parisian jewellery Maison. Premiered in Paris and travelled to Hong Kong with newly selected creations, this exhibition illustrates the Maison’s impeccable taste and technical prowess.

until 6 April 2022 L’ÉCOLE, School of Jewelry Arts, 510A, 5F, K11 MUSEA, Victoria Dockside, 18 Salisbury Road, Tsim Sha Tsui Info: https://www.lecolevancleefarpels.com/hk/en/ exhibition/lacloche

Affordable Online Art Fair & Affordable Art Fair The second edition of the Affordable Online Art Fair and the ninth edition of the Affordable Art Fair return to town! Showcasing a wide variety of art genres, including sculptures, photography, abstracts on canvas, installations, and limited edition prints from local and international galleries, these fairs aim to present something special to firsttime buyers and seasoned art collectors. The programmes also feature a series of online events such as online tours, art workshops, and artists in action working on special projects.

9 April - 3 May 2022 & 12-15 May 2022 Online & Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wan Chai Info: https://affordableartfair.com/

Art Basel Hong Kong 2022 Art Basel Hong Kong is one of the region’s largest art events that aims to bring together established artists and emerging talents from all over the world and provide a platform that connects both the East and West.

VIP Preview: 25-26 May General Admission: 27-29 May Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wan Chai Info: https://artbasel.com/hong-kong

The 2021 edition of the fair featured galleries from Hong Kong and overseas, many of whom opted to participate with a satellite booth, a new concept introduced to support gallerists whose physical attendance was not possible due to current regulations. Running in parallel to the physical show, exhibitors amplified their participation with a rich digital program featuring Online Viewing Rooms, public, and live-streamed VIP walkthroughs, as well as virtual experiences.

Art Central 2022 As a professional platform for pushing boundaries in contemporary art, Art Central was established in 2014 to showcase the next generation of talents from Asia’s most innovative galleries - at least 75% of the galleries are from the Asia-Pacific region. The fair offers an opportunity to discover this area’s emerging artists through painting, sculpture, photography, or art installation, alongside distinguished artists from around the world, making it a dynamic and varied international art event.

26-29 May 2022 Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wan Chai Info: https://artcentralhongkong.com

What’s on Hong Kong

Le French May Held for the first time in 1993, Le French May is a famous festival celebrating fine art, music, dance, film, and gastronomy. For the 2022 edition, the theme is “cultural synergies that connect Hong Kong to France”. With various programmes presented across two months, Le French May aims to reach out to French, foreign, and local communities in order to make it a true cultural exchange. The festival also embraces new and emerging artists and performers.

May - June 2022 Various venues Info: www.frenchmay.com

Qing Ming Festival (清明節) Known as the Tomb-sweeping day or Pure Brightness Festival, Qing Ming Festival is a very ancient Chinese holiday and goes back roughly 2,500 years. The holiday is celebrated 15 days after the Spring Equinox; its date is calculated using the Chinese lunar calendar. It is the day when families visit graves sites and tombs to commemorate loved ones and ancestors. Out of respect, families tidy the headstones, clean away weeds, lay fresh flowers, light incense sticks, and make offerings, often of fake money or paper effigies resembling valuable items, fresh fruit, and

5 April 2022 buns. In addition to cleaning their ancestors’ tombs, people also fly kites and eat special cold foods during this time. Tin Hau Festival is celebrated to honour the birthday of the goddess of the sea, especially cherished among fishing villages. Worship ceremonies are held at Tin Hau temples - Hong Kong boasts over 100 temples of varying sizes - to bring communities and clans together. Each temple puts on lively celebrations and festivities, usually including music, lion and dragon dances, and martial arts displays.

Tin Hau Festival (天后誕)

23 April 2022 Various venues 63

The most impressive procession takes place in Yuen Long, in the village of Shap Pat Heung. Another notable Tin Hau Festival takes place in Sai Kung. Cheung Chau, Peng Chau, Lamma, and Tsing Yi islands are also hot spots for this festival due to their strong fishing roots.

Celebrated on the eighth day of the fourth moon in the Lunar calendar, the birthday of Lord Buddha pays respect to the birth of Prince Siddhartha Gautama who founded Buddhism. The key ceremony is the bathing of small statues of Buddha to honour the belief that, as a baby, Buddha’s body was sprayed with water from nine dragons - this is the reason why this celebration is also known as the ‘Bathing of the Buddha’ Festival.

Buddha’s Birthday (佛誕) 8 May 2022 Various venues

Buddhist temples and monasteries across the city are bustling with different activities; people usually celebrate by lighting candles and lanterns and making offerings. The prime spots to celebrate this day are Po Lin Monastery on Lantau Island where the grand Big Buddha statue sits and Ten Thousand Buddhas Monastery at Sha Tin.

Cheung Chau Bun Festival (包山節)

Cheung Chau Bun Festival is a traditional Taoist holiday on the island of Cheung Chau. Held annually, it marks the end of a plague in historical times thanks to the villagers’ prayers at Pak Tai Temple. The festival activities last four days, however, only on day three there is a boisterous parade; bun towers are built using bamboo that gets enwrapped with steamed buns. A separate tower built using a metal frame with artificial buns is made for the Bun Tower Climbing competition to see who can climb the fastest to the top. On the first two days, and in the morning of the

6-9 May 2022 Cheung Chau Island third day, only buns and vegetarian foods are eaten. On the fourth day, there are still a few activities, but they are mostly local community events.

The Dragon Boat Festival (or Tuen Ng Festival) is celebrated on the fifth day of the fifth moon every year. This holiday highlights the life of Qu Yuan, a patriotic poet devoted to the king of the Chu state, who committed suicide via drowning (288 BC).

Dragon Boat Festival

(龍舟節)

3 June 2022 Various venues

Upon his devastating death, legend says that townspeople paddled boats in the river to the beat of drums to ward off evil spirits and threw dumplings into the water to scare fish from eating his body. This event paved the way for the exciting dragon boat races we have today. Energetic and colorful Dragon Boat races in Stanley and Aberdeen - teams of paddlers race the long narrow boats accompanied by the beat of the drum - are some of the most remarkable.

Please note that to prevent the spread of COVID-19, many events might be restricted/ postponed/cancelled. Always check official websites before heading to an event.

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ITALIANCHAM MAGAZINE Vol.14

Articles inside

What's on Hong Kong

Art, Culture & Lifestyle - Dante Alighieri Society in Hong Kong

Art, Culture & Lifestyle - The Accademia Italiana della Cucina

Art, Culture & Lifestyle - Italian Cultural Institute Hong Kong & Macau

Talk of the Town

Business Focus - From Greater Bay Area to Greater Tech Area

Business Focus - JAS

Business Focus - CRIF

Business Focus - Greater Bay Area: Connecting Opportunities to the Future

Philanthropy by IWA

Take a Coffee Break

Cover Story - The Rise of the DAOs

Member's Spotlight - ART PERSPECTIVE

Member's Spotlight - Lincoln

Member's Spotlight - Pomellato

Chamber's Spotlight - Italian Young Professionals

Chamber's Spotlight - 25th Anniversary

President's memo