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香港及澳門澳洲商會

The Australian Chamber of Commerce Hong Kong and Macau

Logotype : English - Cronos Chinese - Hei AustCham Red: 90M 100Y 25K (PMS 1805C) D Gary: 90K (PMS 432C) L Gary: 70K (PMS 430C)

austcham news • Issue 198 | APR 2018 6 Greater Bay Area Plan: a new focus for the Chamber 10 Hong Kong’s future role in the Greater Bay Area Plan 12 Capital Gains Tax: Have your say 16 Minister Steve Ciobo in Hong Kong 25 Stop Fixing Women: Fireside chat with Catherine Fox

Greater Bay Area Committee Signals Bold New Focus and Opportunities for AustCham Members www.austcham.com.hk


AUSTRALIAN CHAMBER OF COMMERCE HONG KONG & MACAU Working with our members and partners for 30 years through advocacy, insight and engagement within the Hong Kong and Australian business community 

TELL YOUR FRIENDS ABOUT THE BENEFITS OF MEMBERSHIP AND WIN A TRIP TO AUSTRALIA! Refer your friends to AustCham now for your chance to win two Qantas Return Premium Economy flights to Australia.

As well, the first 10 to refer a new Corporate Member will receive a $200 dining voucher from Dining Concepts. * Members will receive tickets to the lucky draw for each new joined referral.

Referee please contact: Angus Perry Business Development Manager T: +852 2115 2052 E: angus.perry@austcham.com.hk


Chairman's Column

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am pleased to announce that the 2018 Annual General Meeting (AGM) was held on 15 March following the adoption of our New Articles of Association.

As I mentioned at the AGM, the Chamber continues to make progress on a range of fronts amidst a challenging backdrop in the year of 2017 where we delivered a number of successful events including the signature Australia Day Lunch, the Rugby 7s Luncheon and the launch of our 30th anniversary celebrations. The Chamber also undertook key campaigns focusing on the DTA, FTA and continued close engagement with the Hong Kong Government. At the AGM I was pleased to welcome Alex Oxford as Director of AustCham. Alex has been actively engaged with the Chamber and we have benefitted from his contribution particularly during his tenure as chair of the AustCham Young Executive Committee. Also, I want to thank my predecessor, Professor Richard Petty, for his service to the Chamber over many years. Richard retired from the Board at the AGM and his leadership, support and dedication was invaluable to the Chamber through a change of CE and a change of articles. As we look towards the year ahead, I am confident that the Chamber will continue to prosper for the benefit of our members, and our broader community. This month’s AustCham News focuses on the Greater Bay Area (GBA) which includes my perspective and AustCham’s vision in regards to this important initiative (page 6). AustCham is committed to working with the Hong Kong and PRC governments to pursue new opportunities for our members which is evident with the Chamber’s recently established Greater Bay Committee. The Greater Bay Committee conducted its second committee meeting at Shenzhen in March and positive progress has already been made – we have committed to developing a white paper on GBA’s commercial opportunities and challenges which will be published this year. If you are interested in contributing, please contact the Chamber. Yours sincerely, Andrew Macintosh chairman@austcham.com.hk

austcham news issue 198

Cover Story 6 A New Greater Bay Area Committee Signals Bold New Focus and Opportunities for AustCham Members

Hong Kong Focus A Conversation with HKTDC – Greater Bay Area Plan

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Australia Focus Capital Gains Tax – Potential to 12 cripple offshore AustCham members

Can We Still Call Australia Home?

Roundtable discussion with 14 the Minister

AustCham Annual General Meeting 2018

Why Protectionists Will Not Win: 16 Australia Champions Open Trade

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International Women’s Day 2018 20 AustCham UOM Mentor Programme 22 Committees in Action 24 Corporate News 26 Community Engaged 27 Workplace 28 Corporate Profile 29 On the Scene 30

Qantas C sleep banner ad 195x55mm hires.pdf 1 4/8/2017 15:10:04

austcham news Online version


Chamber Chatter

What’s Trending

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ew issues have galvanised people across our membership than our campaign to lobby the Australian Federal Government over proposed changes to Capital Gains Tax on non-resident Australians’ principal place of residence. (You can read more about this on page 12). This proposed change could mean that if you sell your family home in Australia while living in Hong Kong, you will be liable to pay Capital Gains Tax on the property from the date of purchase. Not only that, but if a parent dies while you are working overseas and leaves you the family home, you would be required to pay Capital Gains Tax on the bequest simply because you are non-resident. This change therefore penalises Australians for living and working internationally. It would make it harder for you to transfer staff to Hong Kong and we know a number of you are concerned about the direct impact on your business. The Australian Government makes much of the importance of people-to-people engagement and of Australian businesses and Australians working internationally who are making a contribution in so many ways. You will recall the Prime Minister spoke proudly of the contribution we make to engagement with Asia when he addressed the community at the Australian International School late last year. We believe this proposed CGT is an unintended consequence of a move to target foreign investors in residential property which has unfortunately swept up many of us in its wake. It is up to all of us to bring this impact to the attention of Government. We urge you to join the chorus and write to the Prime Minister, The Treasurer and the Minister for Financial Services highlighting the damage this change would cause to you, your business and your staff. Jacinta Reddan, Chief Executive, AustCham

EVENTS UPDATE APRIL AT A GLANCE… Fri, 13 April, 12:30pm – 2:00pm Return to Oz: Crucial investment tax planning for wealthy Australians who'll one day return home 14/F Fairmont House, 8 Cotton Tree Drive, Central *Independent Event Delivered Through AustCham's Event Management Service

Sat, 14 April, 8:30am – 4:00pm InterCham Sustainability Tour: Lai Chi Wo Tour Ma Liu Shui Ferry Terminal, Shatin, New Territories Thu, 19 April, 8:00am – 9:30am 2018 Economic & Property Outlook Harcourt Suite, 1/F, The Hong Kong Club, 1 Jackson Road, Central Wed, 25 April, 12:30pm – 2:00pm Managing your business in a competitive environment: what you need to know - Challenges and Opportunities under the Competition Law Deacons, 14/F Alexandra House, 18 Chater Road, Central

MAY AT A GLANCE… Tue, 15 May, 8:00am – 10:00am InterSME Breakfast Seminar: What investors are looking for when investing in start-ups UBS, 52/F, Two International Finance Centre, 8 Finance Street, Central Wed, 16 May, 6:00pm – 9:00pm The 15th InterCham Connecting People Cocktail Zafran, Basement, 43-55 Wyndham Street, Central

April 2018


A Letter from Canberra

“W

omen make up half the Australian population - in fact, slightly more. It is no longer acceptable that we don’t receive our fair share of power, prosperity or safety.” Tanya Plibersek, Deputy Opposition Leader, 7 March 2018 This month, throughout the world, women and girls rallied together for International Women’s Day. It was a day to reflect and celebrate achievements.

Published By: The Australian Chamber of Commerce in Hong Kong and Macau Room 301-302, 3/F, Lucky Building 39 Wellington Street, Central, Hong Kong Tel: +852 2522 5054 Email: austcham@austcham.com.hk Editorial Committee: Jacinta Reddan Karen Wu Advertising: Karen Wu Email: karen.wu@austcham.com.hk

And it was a day to shine a light on what still needs to be done for true equality. Yes, significant gains have been made over the past 40 years across the globe.  But there’s still a long way to go before women and girls can achieve their potential and make real choices free from impediments based on their gender.  Here in Australia, one in two women have been sexually harassed in their lifetime.  Only 28 percent of the judiciary and 32 percent of federal parliamentarians are women.  Just five percent of ASX200 Chief Executive Officers and 26 percent of corporate board members are women.  The average woman working full time will earn around $25,000 less every year than the average man.  The number of older women forced to couch surf has almost doubled in the last four years. Women over 55 are the fastest growing group falling into homelessness - usually after a life of hard work and raising families.  The typical Australian woman spends between five and 14 hours a week doing unpaid housework compared to fewer than five hours for men. Almost half of girls think gender is the biggest barrier to their chances of becoming a leader.  And 90 percent of women with an intellectual disability have been sexually abused. 

CONNECT • ENGAGE • REPRESENT The Australian Chamber of Commerce in Hong Kong and Macau has more than 1,500 members from some 550 companies doing business here. It’s the largest Australian business grouping outside the country and the second largest of 28 International Chambers of Commerce in Hong Kong. The AustCham mission is: To promote & represent business & values while enabling members to connect, engage & grow bilateral relationships. Disclaimer: The views expressed in this publication are not necessarily those of the Australian Chamber of Commerce in Hong Kong and Macau, its members or officers. The Australian Chamber of Commerce in Hong Kong and Macau takes no responsibility for the contents of any article or advertisement, makes no representation as to its accuracy or completeness, and expressly disclaims and liability for any loss however arising from or in reliance upon the whole or any part of this publication.

Gender equality won’t be achieved overnight. But by acknowledging the many barriers that still exist we can work together to drive change so all Australians have access to equal resources and equal opportunity. Gai Brodtmann MP, Federal Member for Canberra and Shadow Assistant Minister for Cyber Security and Defence

AustCham Platinum Patrons

Copyright © 2018 The Australian Chamber of Commerce in Hong Kong and Macau

Printed on environmentally-friendly paper

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Cover Story

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Photo credit: HKTDC

A New Greater Bay Area Committee Signals Bold New Focus and Opportunities for AustCham Members - Ingrid Piper Interview: Andrew Macintosh, Chairman, AustCham Hong Kong & Macau

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s China’s leaders press ahead with global trade ambitions through the Belt and Road Initiative (BRI) linking land and sea routes to Europe, Africa and the Middle East, they recently reaffirmed their determination to actively encourage the development of the Greater Bay Area (GBA) in the Pearl River Delta. Spanning more than 56,000 square kilometers, the GBA lies strategically at the very heart of China’s global trade initiative, and is already at the forefront of that nation’s innovation and technology ambitions. Since it encompasses both Hong Kong and Macau, the zone is strategically important to AustCham Hong Kong & Macau April 2018

members, especially those with interests that go beyond infrastructure and infrastructure financing. In addition, the long awaited and soon to be completed bridge linking Hong Kong, Zhuhai and Macao will mean even closer transport ties, linking the nine other cities and provinces in this zone, to create a region that has the


Photo credit: PURSUITS

a common goal. The committee held its first meeting in January 2018 and a delegation of joint committee members visited Shenzhen in March. Creating a new joint committee so soon after China officially announced its ongoing support for Pearl River Delta project is indeed timely.

We want to make sure we are at the forefront of supporting business and creating opportunities… potential to rival both the San Francisco Bay Area and the Tokyo Metropolitan area, in the not too distant future. New Focus in 2018 AustCham Hong Kong & Macau has been quick to recognise potential business opportunities created by the GBA’s development. By harnessing the expertise and knowledge that lies within its membership, AustCham is encouraging members and local businesses to get involved in the wealth of opportunities this zone presents, via advocacy and leadership within its committees. In October 2017, AustCham Chairman Andrew Macintosh formally announced the creation of a new joint AustCham Greater Bay Area committee, a move that heralded new directions and challenges for AustCham in 2018 and beyond. The joint AustCham Hong Kong & Macau and AustCham South China initiative is supported by the Australian Consulate General in Hong Kong and Guangzhou, AustCham’s Platinum Patron KPMG, and includes members from Hong Kong, Macau and Southern China". This bold new focus means members from Hong Kong and Macau are joining fellow chamber members within the Guangdong Pearl River Delta, to work together towards

“We wanted to move as quickly as possible to capture potential GBA benefits for our members, and we have a duty to our members to develop this trade relationship. We also want to make sure we are at the forefront of supporting business and creating opportunities,” Andrew Macintosh says. “Given the area’s GDP is about the same as Australia’s, I think our members are very interested in learning more about this proposal and how they can take advantage of enhanced trading opportunities between the 11 cities.” Macintosh says the committee has three objectives. It plans to raise awareness of what the GBA proposal will mean for businesses and how they can gain assess to information; to build people to people relationships; and provide advocacy for business, and those in the business community coming into the region. “We wanted to be inclusive and have a diversity of views. Having a committee with members from these three important areas, Hong Kong, Macau and southern China, will bring different perspectives, and not just focus on what is good for one single area.” Although it’s early days, Macintosh thinks the joint GBA committee will ideally alternate its meetings between Hong Kong, Macau and Mainland China. Hong Kong and Beyond According to Macintosh, Hong Kong’s strategic location within the GBA, and its position as one of the world’s leading financial centres, gives the HKSAR distinct advantages, making it ideally place to service GBA opportunities as a financial and legal service centre. “Hong Kong has very successfully transformed itself as a gateway into Mainland China and it’s professional services mean its positioned well for the GBA initiative. Its key strengths include its rule of law, freedom of movement and capital, and convertibility of currency,” he says. cont P.8

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cont from P.7

I expect and anticipate that the GBA initiative will have a broader appeal to companies beyond just infrastructure…

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Photo credit: PURSUITS

Andrew Macintosh, Chairman, AustCham Hong Kong & Macau

Critical to the overall future success of this Mainland China economic strategy will be factors such as the free movement of people, goods and services in the region. But, even at this early stage those doing business in China are confident of success. Respondents to a recent survey by KPMG and Hong Kong General Chamber of Commerce, which sought input from more than 600 executives and companies, were confident the GBA would result in enhanced market access, improved corporate synergies, a freer flow of talent, and an improved level of cooperation. Opportunities for Trade Macintosh believes opportunities created by the GBA initiative will interest a wide range of businesses, from those providing the building blocks i.e. transport and infrastructure, to those supplying people, capital, and information. “Our committee is made up of a diverse range of businesses and we’re aiming to provide a platform for many industries. Our members include financial services, food

and hospitality, professional services and construction, all looking to grow their Mainland China business and looking at how GBA can assist them,” he says. GBA or BRI? Macintosh is quick to point out that GBA is a massive initiative with an enormous profile in Beijing, at the highest level. Just last month (March 2018), China’s President Xi Jinping’s urged Guangdong officials to work with counterparts in Hong Kong and Macau to facilitate the forward movement of this economic zone. Since its inception in 2013, China’s BRI, connecting China and Asia to global trade routes by both land and sea, has rapidly gained momentum with more than US$ 300 billion worth of project now underway. Yet Australia is one nation which has not signed up as a BRI member country. Even though it geographically lies outside the BRI trade routes, China recently criticised the Australian government for its interest in a joint regional trade partnership with Japan, the US and India, referred to as The Quad, which some see as challenging the BRI strategy.

A rising tide lifts all boats, and the development and strengthening of enhanced trading relationships should benefit all parties… April 2018


So, is a GBA likely to be of more interest to Australian business than the BRI, which to date, has focused heavily on infrastructure? While Australia is technically not a BRI country, Macintosh says AustCham’s members, Australian businesses and Australians working in local businesses in Hong Kong, are enthusiastic about the opportunities the BRI offers. “Our members also see the potential in the Pearl River proposal. Some members see greater potential in the BRI for example, those with more of an infrastructure focus because rightly, or wrongly, the BRI is perceived to be more infrastructure focused. But I expect and anticipate that the GBA initiative will have a broader appeal, looking at what it can offer to companies beyond infrastructure,” Macintosh says.

“We understand that some Hong Kong businesses are expressing concern that any advantage conferred on the Mainland somehow erodes Hong Kong’s comparative advantage. We take the view that a rising tide lifts all boats, and the development and strengthening of enhanced trading relationships should benefit all parties. The development of the Mainland is inevitable, and we will continue to serve our members by accessing opportunities and advocating on their behalf. “Our members have a long standing and deep relationships with Hong Kong, Macau and Mainland China and new businesses can benefit from access to our expertise by getting involved with the Joint AustCham Greater Bay Area committee,” Macintosh says. | More on The Greater Bay Committee, see P.24

He says AustCham recognises not all members feel the GBA proposal, if realised, will benefit Hong Kong and Macau.

Global ambitions: Creating a World Class Economic and Business Hub

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he scale of China’s proposed Greater Bay Area (GBA) initiative is massive. Nearly 67 million people live within the Pearl River Delta, a region that spans an area of around 56,500 square kilometers. In terms of population size, this equates to roughly the entire UK population and almost three times that of Australia. The world’s largest city cluster, the Tokyo Metropolitan Area, only has a population of 44 million.1 Key business centres within the area include Hong Kong, Macau, Shenzhen, Guangzhou, Zhuhai, Dongguan, Huizhou, Jiangmen, Zhongshan, Foshan and Zhaoqing. In 2016, GDP for the 11 GBA cities reached US$ 1.4 trillion, or 12 per cent of China’s economy. Only five per cent of China’s people live within this area. By comparison, Australia’s GDP in 2016 was US$1.2 trillion. Hong Kong is the largest single economy within the GBA footprint. In 2016, its GDP was US$319 billion,

with Guangzhou (US$285 billion) and Shenzhen (US$283 billion). Moving Forward: The GBA action plan was initially announced in 2011. But it wasn’t until March 2017 that Premier Li Keqiang confirmed that China’s was pressing ahead with this initiative as a key component of the national development plan. At the annual legislative assembly in Beijing, in March 2018, President Xi Jinping formally urged Guangdong officials to work with Hong Kong and Macau to create a world class economic and business hub.2 It’s anticipated that the initiative’s benefits will flow beyond the immediate Pearl River Delta, to include surrounding provinces such as Fujian, Jiangxi, Hunan, Guangxi, Guizhou and Yunnan. According to a recent joint KPMG and Hong Kong General Chamber of Commerce (HKGCC) survey, sectors most likely to benefit from China’s GBA plan include transport and logistics, financial services and R&D in innovative technologies.

1. Source: https://assets.kpmg.com/content/dam/kpmg/cn/pdf/en/2017/09/the-greater-bay-area-initiative.pdf 2. Source: http://www.scmp.com/news/china/policies-politics/article/2136205/xi-jinping-tells-guangdong-lead-charge-full-opening

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Hong Kong Focus

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A Conversation with HKTDC – Greater Bay Area Plan

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Photo credit: HKTDC

mong the different cities in Guangdong province under the Greater Bay Area plan, what are the advantages that Hong Kong has that could contribute to the plan? What’s our future direction? Hong Kong Trade Development Council explains some of Hong Kong’s strengths in the Bay Area and its significances to Hong Kong economy. Hong Kong’s strengths in financial services, professional services and international ties are prominent in the development of the Guangdong-Hong Kong-Macau Bay Area – a national strategy to build a cooperation mechanism among the nine cities in the Pearl River Delta (PRD) plus Hong Kong and Macau, and a vision to make the Bay Area a world-class city cluster with international competitiveness. Innovation Technology One of the future directions of the Guangdong-Hong KongMacau Bay Area is to promote development of innovation and technology industries. Given the broad base of industry structure of the Bay Area and cities in the region, the potential market of technologies that will contribute to the transformation and upgrading of the Guangdong’s traditional manufacturing sector is huge and promising. Besides, new demand emerges from the objectives of the Bay Area to raise the overall level of economic efficiency and achieve sustainable development will also be conducive to InnoTech development. Enhanced R&D capability in the Bay Area can be applied extensively in different areas, such as smart production, smart cities, Internet of Things, environmental protection and energy saving. April 2018

In light of the above, effectiveness in promoting InnoTech development, and facilitating integration advanced technology and traditional industries to accelerate industrial transformation and upgrading are crucial. Today, mainland enterprises boast sound R&D ability and have developed a wide range of popular technologies and products in such areas as ICT applications and solutions as well as mobile device applications (apps). However, not many enterprises manage to extend such technological applications from local level to national level, neither can they tap the international market by using technologies that meet international standards. Meanwhile, although China is still at a nascent stage in certain advanced technologies, it is finding it difficult to import foreign technologies directly into the mainland for application due to different technical specifications and user experiences. Hong Kong companies are not only well-versed in international technological trends and technical standards, and have established extensive international market networks. Hong Kong can collaborate with cities within the Bay Area in forging closer ties in such areas as personnel exchange, technological application, and technical specifications in relevant technological sectors.


Such joint efforts not only help advance commercialisation of mainland technological achievements and develop overseas markets, but also effectively bring in the right foreign technologies for mainland industry players for local application, which will in turn boost the overall development of the Bay Area. In certain high-tech industries, for example internet of things applications and development of next generation internet, some mainland enterprises currently still lack the necessary expertise, which has more or less restricted the relevant R&D and technological application. Hong Kong’s technological industry players have good knowledge about advanced foreign technologies, excel in using technologies developed in accordance with international standards/frameworks, and are experienced in importing foreign technologies. Therefore, they can help mainland projects pursue commercialisation to meet market demand. Hong Kong, as a regional intellectual property trading hub, offers sound protection to intellectual property and provides excellent professional services. Hence, the SAR has attracted a great number of technology, creative, R&D, design and production companies around the world to use it as a platform for trading intellectual property with the Chinese mainland and other Asian markets. To meet the demands arising from the development of technology and innovation in the Bay Area, Hong Kong can give full play to its advantages as an intellectual property trading hub to bring in intellectual property, such as technology from abroad, as well as assist the Bay Area in launching its R&D achievements onto the market and tap the international market. Fintech Financial technology is another sector where Hong Kong can participate in the technological and innovation development of the Bay Area. In Guangdong’s 13th Five-Year Plan, it was put forward that efforts would be made to encourage Shenzhen and Hong Kong to jointly build a global financial centre. Hong Kong is already an international financial centre in its own right. As its ties with the mainland financial sector become increasingly close, it provides a sound co-operation base and excellent opportunities for the development of financial technology. For instance, for financial technology companies wishing to develop financial technology for stock investment, Hong Kong offers room for growth because its stock market has connections with both the Shanghai and Shenzhen stock markets. Any enterprise wishing to engage in financial technology must possess knowledge in financial services and the necessary technical background. Hong Kong is not only home to a large pool of professionals rich in financial experiences and knowledge, but also has in place transparent regulations and a sound supervision system which guarantees information safety. As such, it can join hands with the technical personnel of the Bay Area in developing the right financial technology.

and application of financial technology in the Bay Area, including system standards and connection, the application and research of financial technology in the Bay Area is bound to reach an advanced level. It can be expected that more and more entrepreneurs and investors in the Guangdong-Hong Kong-Macau Bay Area will be encouraged to participate in various technological innovation enterprises. Apart from demand for financial resources, these enterprises are also in dire need of supporting services in technology, market network and corporate development. Technological innovation enterprises in the Bay Area can capitalise on Hong Kong’s advantages, such as the free flow of information and capital, extensive international market networks, and sound corporate management, to enhance their development ability. In encouraging Hong Kong and the PRC to jointly build an innovation platform, efforts have to be made to strengthen exchanges and connections between the R&D institutions and technological enterprises in the two places in a bid to create a technological co-operation platform. Steps should also be taken to extend the platform to other related financial and professional services in the hope of combining each other’s advantages. Opportunity for foreign businesses Pooling talent is an important factor in propelling technology and innovation. In attracting experts, especially experts from overseas, Hong Kong can join hands with PRD cities and play to their respective strengths. For example, foreign experts may find it easier to adapt to living in Hong Kong, an international metropolis, than in mainland cities. So, in order to attract foreign professionals to form R&D teams with mainland and Hong Kong personnel, action can be taken to form teams straddling Hong Kong and neighbouring Shenzhen. In so doing, foreign professionals can live in Hong Kong, where the environment is international, while maintaining close contacts with research team mates in the PRD region, in particular Shenzhen. Hong Kong, with its foreign ties and international background, can be positioned as a base for foreign technological exchanges and co-operation in the Bay Area. Currently, Hong Kong and Shenzhen are planning to jointly build a Hong Kong/Shenzhen Innovation and Technology Park in the Lok Ma Chau Loop. Upon completion, this park can play a leading and demonstrative role in attracting the entry of mainland and leading foreign enterprises, universities and R&D institutions and help bolster the future development of the Bay Area. Compared with other city clusters in the mainland, the PRD Bay Area has the unique advantage of encompassing Hong Kong, an international financial centre, in its ‘one-hour economic circle’. Hong Kong, with its large pool of professional service providers and international talent, as well as economic and judicial systems different to those of the mainland, is an ideal gateway for multinational companies entering the Asia and China market. .

If Guangdong and Hong Kong can coordinate the development Source: HKTDC

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Australia Focus

Capital Gains Tax – Potential to Cripple Offshore AustCham Members

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ustCham members should all be alarmed about proposed new amendments which would see a Capital Gains Tax levied if you sell your family home in Australia while working in Hong Kong. Rather than provide for the current six-year CGT exemption on your principal place of residence, this change means that you would instead pay CGT from the time of purchase, regardless of how long you lived in the home before moving offshore. Many of you may be forced to sell your home for any variety of unexpected circumstances. As well, if a family member dies while you are living in Hong Kong and bequeaths all or part of their home to you, such bequest would also be hit by this new CGT. This will hurt you as individuals, and will severely limit the ability of our corporate members to transfer staff offshore from Australia. This is a crippling proposal and we believe this impact on non-resident Australians is an unintended consequence of an amendment intended to hit foreign investors. What AustCham is doing/has done: We have raised the issue in person with Minister for Trade, Tourism and Investment Steve Ciobo during a meeting in Hong Kong on 20 March and have written to him subsequently We have written to the Prime Minister Malcolm Turnbull, Treasurer Scott Morrison, Minister for Foreign Affairs Julie Bishop, Minister for Revenue and Financial Services Kelly O’Dwyer, Minister Assisting the Treasurer Michael Sukkar and the Leader of the Opposition Bill Shorten 

We have raised this issue with the Australian Consulate in Hong Kong We have brought this to the attention of Australian chambers across Asia to encourage their members to also protest this amendment We are running a social media campaign and will post this campaign on

our website We will continue to monitor and run an active campaign

What you can do: Write to the Treasurer Scott Morrison on the Treasury Department website. Share, like, comment and post our messages on this CGT by following us on: AustCham's twitter @austchamhk; Jacinta Reddan's twitter: @austchamceo *Campaign hashtag: #CGTkneecapsOzdiaspora       Follow and comment using this hashtag on this subject on the Treasurer’s/PM’s twitter account – particularly around comments relating to promote international trade and investment, and people to people dialogue Corporate members: If you are a large Australian company with head offices in Australia, please ask your head office to also take action. This will severely limit your ability to transfer staff offshore or to attract staff to Hong Kong. We will continue to raise awareness of this issue with Australian chambers and business organisations around the world. This amendment has flown below the radar and we want to mobilise the powerful voice of Australians abroad. As the Prime Minister pointed out when he was here in November: Hong Kong is the second largest polling booth behind London. In an election year, this matters and your voices will be heard. For copies of our letters and submission, please check AustCham website for details: http://www.austcham.com.hk/latestnews/106

#CGTkneecapsOzdiaspora    

April 2018


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Can We Still Call Australia Home? KPMG provides analysis on changes in the main residence exemption for foreign tax residents In the 2017/18 Federal budget, it was announced that the main residence capital gains tax exemption would not apply to foreign tax residents or temporary residents. This proposed change will have a significant adverse impact to Australians disposing of their Australian principle residence if they are a non-resident. The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 2) Bill 2018 (the “Bill�) was introduced to enact the proposed amendments. Based on the Bill, the main residence capital gains tax exemption will not apply to foreign tax residents where the sales contracts of the residential property is entered into: (a) After 30 June 2019; or (b) Any sales of residences before this date if the residence was purchased after 7:30pm on 9 May 2017. This change will impact Australian citizens and permanent residents of Australia that are working overseas as they will no longer be able to avail the main residence exemption in part or in full. As a result, they will be subject to capital gains tax in Australia on the gain from the disposal of their Australian main residence. Prior to this change, the main residence exemption could have applied for a period of up to six years whilst the owner was outside of Australia.

Given the significant growth in house prices in Australia over the last few years, the capital gains tax liability could be a significant tax cost for many Australians working overseas. For those Australian citizens or permanent residents already working outside of Australia, you may need to reconsider your plans with respect to your Australian residential property. The rationale and benefit of the 2017/18 budget proposal may have been a simple revenue raising measure, or it may have been aimed at increasing the supply of housing stock by encouraging Australians to dispose of their Australian property prior to becoming a non-resident. Either way, removing the main residence exemption for foreign tax residents will penalize those Australian’s looking to gain work experience overseas if for whatever reason they were to dispose of their Australian principal place of residence whilst they were a non-resident for Australian tax purposes. The proposed amendment could have the effect of discouraging some Australians from gaining valuable international work experience to avoid the potential risk of losing out on their main residence exemption whilst they are a non-resident. This would represent a significant set-back for Australians looking to encourage greater collaboration and engagement with Asia and looking to bring back expertise gained offshore into the Australian domestic market. Source: Darren Bowdern, KPMG. Darren is also the Deputy Chair of AustCham and Vice-Chair of the Finance, Legal and Tax Committee.


Making an Impact

Roundtable discussion with the Minister

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ustralia’s Minister for Trade, Tourism and Investment Steven Ciobo met AustCham Directors and Platinum members during his visit to Hong Kong. The roundtable discussion with The Minister covered topics on investment environment and an update on the FTA discussion.

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Photo credit: DFAT

April 2018


AustCham Annual General Meeting 2018

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e are pleased to announce that the 2018 Annual General Meeting (AGM) of the Australian Chamber of Commerce, Hong Kong and Macau (AustCham) was held on 15 March, 2018. The meeting was chaired by Andrew Macintosh who opened the meeting and delivered his report highlighting the Chamber's achievements in advocacy, event management, and in other areas. We are pleased to notify all Members who were unable to attend the AGM that all proposed resolutions were passed. All board directors presently serving the Chamber who were eligible for election were re-elected. Darren Bowdern, Partner – KPMG, Fiona Nott, CEO - The Women Foundation, George Lam, Chairman – HK Cyberport Management Company, Bina Gupta, Founder & Managing Director BG Business Communications Ltd., and Paul Scroggie, Director - MERX Project Management. In addition, Alex Oxford, Head of Sales, Asia - Encompass Corporation, was newly elected.

Congratulations and warm welcome to Alex!

The board of directors now comprises: Andrew Macintosh Acorus Asset Management Darren Bowdern KPMG Fiona Nott The Women Foundation Robert Quinlivan A-STARS Advisors Limited Clement Chan BDO Martin Darveniza Hengqin Galaxy Entertainment Group Gautam Dev Prudential Corporation Asia Bina Gupta BG Business Communications Ltd. Sam Guthrie Australian Trade and Investment Commission (AUSTRADE) HK and Macau George Lam Cyberport Deborah Leung CPA Australia CQ Lu National Australia Bank Paul Scroggie MERX Project Management Maaike Steinebach Commonwealth Bank Australia Alex Oxford Encompass Corporation

Immediate past chair Richard Petty retires from the board.

AustCham Member Benefit Program 2018 In 2018, AustCham is launching a new year-round member offer to replace the current monthly single member benefit or discount. We provide a marketing opportunity for member's company to promote their products and services. In the meantime, AustCham members can enjoy offers on dining, travel, retail and more.  For details please check AustCham website: www.austcham.com.hk/membership/ specialmemberbenefits

ard Membership eC

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Feature

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Why Protectionists Will Not Win: Australia Champions Open Trade - Australian Minister for Trade, Tourism and Investment, The Hon Steve Ciobo MP Photo credit: DFAT

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lot of recent debate about trade globally is focused on US policy shifts.

In 2018, as we have seen with Australia’s hosting of the historic special ASEAN summit, trade-liberalising economic integration between nations is driving growth in Asia-Pacific. Look only at the bilateral and regional free trade agreements taking shape, like the TPP-11— the world’s most significant trade and investment agreement recently. And in Hong Kong, Australia is in discussions for a high-quality agreement which demonstrates our shared commitment to openness. Today I’ll make the case against protectionism, in favour of open trade and investment. Protectionism doesn’t work. It’s wealth-destroying, and doesn’t deliver certainty. Protectionism has a superficial appeal, and many countries have used protectionist policies at various stages of their development. But protectionism lowers living standards, it imposes higher costs on those least able to bear them. This goes double for businesses relying on imports as raw materials or components, in manufacturing, food production, mining or transport. April 2018

Protectionism slows economic growth. As Australia’s Prime Minister, Malcolm Turnbull, said, “a trade war is a race to the bottom that makes us all poorer, leaves our citizens with less choice and fewer opportunities.” Economic growth in the late 19th century occurred despite high trade barriers. Studies show growth in that period stemmed from the major population growth and accumulation of capital. By contrast, globalisation has been an immensely successful policy, accepted by many. As the Australian Institute of Public Affairs reported, the evidence for the success of trade is clear. Australian prices for televisions and computing equipment have gone down 91 per cent and a Qantas flight to Hong Kong today costs 65 per cent less compared to 20 years ago. Thankfully, what we have built up are international rules, systems and institutions that make globalisation work.


We can have a discussion about whether globalisation is working for everyone. There’s no doubt where the tough politics comes from. There are examples globally where governments failed to take the people with them. People get scared, because when factories and industries shut, they lose jobs. That’s not an economic concept — that’s a reality. There is a difference between the prosperity of the economy and that of the individual. Responsive education systems and social safety nets are a part of that conversation — and have been integral in Australia’s policy response to globalisation challenges. The Australian experience from opening up to the world has been of shared prosperity — real median wages have gone up roughly 50 per cent in the 20 years to 2017. Trade and investment’s capacity to create wealth is evident in Hong Kong. Many people are critical of the World Trade Organization because of increased difficulty in coming to multilateral grand deals. But the network of trade agreements in our region — including those Australia has with ASEAN, China, Japan and Korea — have delivered a more integrated and prosperous regional economy. The high quality FTAs Australia has entered into are consistent with WTO rules and are practical steps towards achieving global trade liberalisation. Other institutions make their own contributions to economic openness. APEC, the East Asia Summit and the G20 are all critical regional and global bodies in which we work together to find common purpose, to improve the trade environment. These economic elements of the international rules-based order are a virtue. Australia, as a trade-exposed economy outside of the Top 10, has a proportionately greater stake in a functional international trading system that reduces uncertainty and allows business to make long-term investment decisions. The global trading system isn’t redundant; it delivers more global prosperity to the citizens of countries taking part. The WTO has an important role, including as a dispute resolution body.

The fabric of globalisation is much denser today than it was before. Digital connections are everywhere, and travel has never been easier. Global supply chains are ubiquitous because of the immense prosperity-generating potential in the model of globalisation in play. Global supply chains are a vital element of domestic production, particularly in advanced manufacturing and energy, contributing to productivity growth, innovation and job creation. The ‘Fourth Industrial Revolution’ — the new front of technologies — is rapidly changing everyday life. We can’t allow job losses flowing from artificial intelligence to be blamed on free trade. That’s down to automation, not globalisation. Over time, forces of AI and automation will reshape global supply chains. As machines replace workers, it may mean more manufacturing shifts back inside mature end-markets, based on cost of capital considerations. When considering large capital investments that could be located anywhere in the world, investors will prefer their capital in stable, developed market economies. Government has a role in ensuring any initial negative impacts on some sectors are outweighed by the benefits. That’s why the Turnbull Government is investing into the advanced manufacturing defence industry sector, creating thousands of jobs and giving businesses export opportunities. Free trade is an argument Australia has been making for decades – and we’ve delivered on reform. Australia’s in its 27th consecutive year of economic growth. If you look at Australian living standards over the past century, a clear story emerges of the value of openness. At the turn of the 20th Century, Australia was one of the best places in the world to live, judging by GDP per capita. The Australian States were built on trade. In 1913, Australia ranked second in GDP per capita worldwide. But between 1901 and the 1980s there was long slow decline. Wool, wheat and mining exports cont P.18

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cont from P.17

were our mainstays, to which we added local manufacturing industries like automotives. Over time, successive governments sought to shield big employment industries like manufacturing and textiles from overseas competition, to protect jobs and living standards.

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That era of failed policy lead only to higher social and economic costs, by the late 1970s, the evolution of a highlyprotected economy was a burden to the public purse. By 1928, we were 4th in the world. In 1950 - 7th. By 1980 -19th. Then, from the 1980s, there was change in Australian attitudes towards industrial policy. Through major policy reform, our economy was opened up, and exposed to international competition. The floating of the dollar, slashing of tariffs, de-regulation of the labour market, National Competition policy, switch to indirect taxation set the scene for greater competition for Australian businesses. The removal of protectionism made Australia’s economy stronger, providing momentum. Old industries that no longer made sense, in the emerging world, fell away. Many people lost their jobs, or struggled to adjust in new services industries emerging in the 1980s. For those who lost their jobs, we had in place strong social security safety nets, industry transition programs such as for the Newcastle steelworks and the automotive sector, and a commitment to education and training. And Australia’s economy became more nimble. It opened up to innovation, and change, creating millions of jobs. By 2015, we were the 10th richest people in the world, measured by GDP per capita. As Prime Minister Turnbull said, the decision by Australia to pursue a TPP-11 after the withdrawal of the US was a clear signal of the continued strength of commitment globally to reform. We and many of our trading partners are forging ahead on other agreements. Hong Kong is the perfect example — long a facilitator and intermediary between

China and the global economy. China more broadly, is a great example of what happens when reform and trade liberalisation take place. China of the 1970s was isolated, focused on self-sufficiency — a far cry from today’s China. The decision to open China to the world produced extraordinary national transformation. That change has been overwhelmingly good —for the Chinese people and the world. The US, by opening its markets to China, welcomed and facilitated China’s opening up. Access to the US market, combined with the institutions of Bretton Woods, GATT and its successor the WTO made an enormous contribution to economic growth and stability in our region. For our part, Australia was instrumental in China’s accession to the WTO in 2001. China made major adjustments to be part of a rules-based trading system. The fact is, China has made strides in opening its economy since then. The China-Australia Free Trade Agreement — the highest quality trade agreement China ever concluded —opened the door wider. Australia enjoys better access into China than any other comparable economy. I have a good working relationship with my counterpart Commerce Minister Zhong and his colleagues such as Chair of the NDRC He Lifeng and SASAC Chair Xiao Yaqing. I am committed to working in good faith with them to resolve any trade and investment issues. The foundation of Australia and China’s economic relationship has been resources and agriculture. This trade continues to flourish and now encompasses our goldstandard services industries. The result is an all-time high of $175 billion in two-way trade in 2016-17, a record 185,000 Chinese students receiving quality Australian education and almost 2 million two-way tourists. President Xi’s investment in infrastructure, including China’s Belt and Road Initiative, offers the potential of further expansion of markets for Australian companies. We look to


Photo credit: DFAT

China to continue its process of economic development, and welcome China taking steps for its commitments to trade liberalisation, reflected through ongoing reforms and acting consistently with the international rules-based order. Premier Li Keqiang’s announcement that China will open aspects of education, health and financial services is a welcome development. Education and tourism has taken off and Australia is well placed to cater for middle class demand, as evidenced by the success of the 2017 China-Australia Year of Tourism, an initiative of President Xi and Prime Minister Turnbull.

success is that we do not retaliate; a trade war serves no one. We encourage all major powers to work with WTO rules. Secondly, we must refresh the WTO agenda; to do work on digital trade, investment, behind the border issues, to drive change. Third, we should continue an active FTA agenda. Fourth, we need to keep an eye on questions of equity, and distribution of gains. As people see the benefits of these deals, they will be more supportive. And lastly, we need to remake the case for openness. We should enlist support wherever we can, particularly among young people. They are instinctive globalists, and if armed with the facts of the economic and humanitarian case for free trade, will be our most powerful allies in the battle of ideas now playing out. Source: This is an abstract taken from Minister Ciobo’s speech at The Foreign Correspondents’ Club in Hong Kong on 19 March 2018. Full report: https://bit.ly/2uQrPDv

Wednesday, 25 April 2018

And we can do more. It’s a testament to our close economic relationship that Australia was the first country to be invited to the China International Import Expo. I will lead a delegation of senior Australian business people to the Expo — highlighting the closeness of government and business links between us.

The Cenotaph, Chater Road, Central

6:15am

Members of the public may lay a wreath according to the order of service

Followed by Gunfire Breakfast: Grappa’s Cellar - $190 | $110 (2 - 11 years old) + 10 % LG/F, Jardine House, 1 Connaught Place, Central, Hong Kong Cash Only, Booking Essential | 2521 2322

Australia is also working with China to strengthen protection of intellectual property rights. In 2016 we appointed the first ever IP Counsellor at the Australian Embassy in Beijing to enhance cooperation, leading to improved enforcement and increased business awareness of IP. Beyond China, we have a massive trade negotiating agenda and are committed to extending our network of FTAs. In 2018, it might seem like global protectionism has the upper hand. But if you hold up the cloak of protectionism against the achievements of the global trading system, it proves threadbare. Protectionism now is as much an economic dead-end as in the 1930s. The key to continued

hong kong

www.hongkong.china.embassy.gov.au

www.nzembassy.com/hong-kong

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International Women’s Day 2018

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ustCham’s Women in Business Network hosted their third Great Debate on the topic ‘Women are not promoted on merit’ this year.

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The debate panel included Kimberley Cole from Thomson Reuters, Farhan Faruqui from ANZ, Henny Sender from Financial Times and Adrian Warr from Edelman Hong Kong. We were also delighted to have Deputy Chair of The Women’s Foundation, Angelina Kwan to moderate the debate on the evening. Thank you all who attended the event and celebrated International Women’s Day with us on the evening. The Chamber will continue to play our part in raising awareness of biases that may prevent us from creating organisations which better reflect our clients and the communities in which we operate.

Women in Business Network sponsors:

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April 2018


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AustCham UOW Mentor Programme The fifth edition of the AustCham Mentor Programme came to a close in March. Thank you to everyone that made the 2017 programme possible, especially to our programme sponsor University of Wollongong (UOW), Marisa Mastroianni and her team. Thank you to Speak Ltd, speakers, mentors, mentees and the support from AustCham Young Executives Committee.

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University of Wollongong’s Jessica Sun, Brett Lovegrove, Marisa Mastroianni and Damien Israel with AustCham Chairman Andrew Macintosh (third from the left), Chief Executive Jacinta Reddan (third from the right) and Program partner Tanya Menzel (second from the right). April 2018


The application for 2018/2019 mentor programme is now open! Expression of interest: mentor@austcham.com.hk Please provide your full name, company name, position, email address and contact number, and indicate if you would like to become a mentee or mentor in the email. Note: Mentee application - AustCham members only AustCham has established a progressive mentor programme that is the first of its kind among Hong Kong’s Chambers of Commerce. Ambitious young executives and entrepreneurs are matched with today’s leaders in Hong Kong of various industries, including financial, legal, construction, government, and education.

Regarded as the flagship programme of AustCham, over 100 mentees and mentors have experienced the depth and breadth of the programme since 2013. Now in its sixth year, the programme is proudly sponsored by University of Wollongong (UOW). The unique advantage of the AustCham UOW Mentor programme is the invitation of graduates to participate in an alumni cohort focused on continued professional development and growth of leadership skills for use as future AustCham mentors.

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Programme Objectives • Build character • Strengthen leadership skills • Create a network of support for mentees and mentors • Positively influence the business and social community of Hong Kong More details will be revealed soon. Stay tuned!

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Committees in Action

Greater Bay Committee in Shenzhen

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he Committee had their first meeting in Shenzhen earlier in March. It was joined by representatives from the state, trade bodies, departments, Deputy Consul-General Ken Gordon and representatives from China Southern Airlines and Hainan Airlines, together with other committee members who traveled to Shenzhen.

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The committee discussed what business opportunities and challenges our members are finding within the Greater Bay Area Plan, as well as planning for upcoming events. This is also our first committee to collaborate with AustCham South China.

April 2018


Women in Business Network: Stop Fixing Women

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ne of Australia’s leading commentators on women and the workforce, and Walkley award winning journalist, Catherine Fox shared her views to members on why building fairer workplaces is everybody’s business, and how we can make a change to build businesses of the future. The event was hosted by AustCham Women in Business Network and moderated by Thomson Reuters’ Kimberley Cole.

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Missed the session? Watch the video on our Facebook fan page now!

Committees in Action cont P.26


Corporate News

Westpac appoints New General Manager for Asia Pacific

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ustCham Platinum Patron Westpac recently announced the appointment of Michael Correa as General Manager, Asia Pacific. Michael, who is currently Head of Corporate & Institutional Distribution and Origination, Financial Markets at Westpac in Sydney, will be moving to Singapore and starts an immediate transition into his role.

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Michael brings with him more than 20 years of regional industry experience, including eight years in Asia. He joined Westpac’s financial markets team in 2011 leading the global capital markets business. In his new role as General Manager, Asia Pacific, Michael will be responsible for overseeing all of Westpac’s

business operations in Asia, client, partner and regulator relationships. Commenting on the appointment, Group Executive for Westpac Institutional Bank, Lyn Cobley said: “We are excited to welcome someone of Michael’s calibre to Westpac’s Asian franchise.  Michael’s appointment reflects our strategy and continued commitment to customers, by providing them with deep local market knowledge and connectivity. His financing and client expertise means he is perfectly positioned to help our customers make the most of this dynamic and fast growing region as they take part in the ever increasing trade and investment flows.”

Committees in Action cont from P.25

AustCham Young Executives: 18th CEO Forum

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he 18th CEO Forum was a roundtable discussion with former Victorian Government Planning Minister Justin Madden, on government planning processes. Justin also shared leadership insights drawing on his varied career, as a former champion AFL footballer who played in four grand finals winning two Premierships, leading the AFL Players’ Association and famously doubling membership, establishing minimum standards for players and setting the foundations for today’s professionals. During his career with the Victorian Government, he held seven ministerial portfolios serving successive governments across 11 years and was Planning Minister for four. Thank you Justin for the valuable sharing to our young executives!

Venue partner:

April 2018


Community Engaged

AIEF Helping Indigenous Students to Close the Gap

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n Australia Day, ABC Chief Asia Correspondent Stan Grant addressed a gathering of AustCham members about what it means to be an Australian. Bindal Birri Gubba woman Jemmason Power is one of them, and part of a generation of young Indigenous Australians closing the gap in Year 12 attainment. At 16 she successfully applied for an AIEF Scholarship to board at St Peters Lutheran College and moved from her home town of Bowen, Queensland, to Brisbane. “My parents instilled in my brother and me the need to look for opportunities to further our studies and our career paths, anything that would better us. My scholarship gave me an environment where I could pursue my sporting career and marry that with an education.”

Grant spoke about the influence of a historical legacy that includes the dispossession of Aboriginal and Torres Strait Islander peoples and the mixed results of government policies to ‘close the gap’ between Indigenous and other Australians in health, education and employment.

Since graduating in 2011, Jemmason has balanced an elite netball career with studies at The University of Queensland, where she completed a Bachelor of Human Services in 2017. She’s now working as a policy officer with the Aboriginal & Torres Strait Islander Community Health Service.

“We still have Aboriginal people who are the most impoverished people in Australia,” he said. “But that’s not the entire story.”

“AIEF provides so many opportunities for you to explore different avenues and pathways. They are just amazing at what they do.”

“The Australian Indigenous Education Foundation (AIEF) is engaged in giving Aboriginal children an opportunity at some of the best schools in Australia. Those children have gone on to be doctors, lawyers, architects, engineers, soldiers, carpenters, electricians; they have gone on to own their own homes... They’ve closed the gap.”

Students and graduates in the AIEF program consistently achieve outcomes that set the benchmark for Indigenous education programs in Australia, including 94% retention and Year 12 completion and 94% of scholarship graduates productively engaged in careers.

Stan Grant is an Ambassador of AIEF, an AustCham CSR partner that provides scholarships for Indigenous students at leading Australian schools and universities and supports these students to make a successful transition from study to careers.

If you would like to learn more about making a donation to AIEF that will help fund opportunities for students like Jemmason, you can visit the AIEF website: https://donations.aief.com.au/ or write to michelle. penfold@aief.com.au or andrew.penfold@aief.com.au.

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Workplace

Precaution for Influenza Seasons at Workplace

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r. WAN Chi Kin, Specialist in Respiratory Medicine shares how employees and employers should prevent the spread of the flu at work during the flu season.

Tips 1. Maintain good ventilation at the workplace, such as well-maintained airconditioning system, or open as many windows as possible for better ventilation; 2. Disinfect regularly-used equipment with diluted solution of household bleach (1 part bleach: 99 parts water) when necessary; 3. Keep the workplace, particularly the floor, carpets, doors, windows and ventilation systems, clean; ensure toilet facilities are properly maintained; and provide liquid soap, disposable towels and a hand-dryer in toilets.

What employees can do to enhance personal hygiene Keep hands clean and wash hands properly. Alcoholbased handrub is also effective when hands are not visibly soiled Avoid touching eyes, nose or mouth Wash hands with liquid soap promptly if they are dirtied by respiratory secretions, such as after sneezing or coughing Cover nose and mouth when sneezing or coughing; no spitting. Always wrap nasal and mouth discharges with tissue paper, and dispose of the tissue paper properly in a lidded rubbish bin Wear mask when symptoms of respiratory tract infection or fever develop. Seek medical advice promptly; and refrain from work if develop symptoms of influenza Recommend influenza vaccination every year, especially for high risk employees such as multiple medical illness, chronic respiratory disease, pregnancy or elderly

Advice for employers Ensure that the workplace is kept clean and hygienic Provide adequate and proper face masks, gloves and other personal protective equipment when necessary. Ensure that the workers are using such personal protective equipment properly Communicate the relevant health advice and guidelines to employees Remind staff of the importance of good personal hygiene Remind employees to consult a doctor in case of fever or cough, and not to go to work if they are in or as advised by the doctor Develop contingency plans for keeping the workforce safe and secure as far as practicable Provide influenza vaccination program to staff if possible

April 2018


Corporate Profile

Corporate Profile

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Denphy Trading Company www.denphy.com www.mayphy.com.hk Denphy Trading is the exclusive importer of Mayphy products direct from Australia to Asia. Mayphy is a range of tasty graband-go products sourced and produced in Australia. Capturing the fresh Australian flavour, from juices to breakfast cookies and scrumptious snacks, everywhere Mayphy is sold in Hong Kong, the taste of Australia is guaranteed. Drawing on decades of experience working in major Asian cities, Denphy Trading work efficiently with a wide range of cafés, convenience stores, supermarkets and food service outlets. Currently operating in Hong Kong and expanding to Singapore, Malaysia, Indonesia, Taiwan and China, Denphy Trading understands the intricacies of each market. What are the main skills of your job? People engagement. Sales and sourcing are people business. I need to understand what the customers want, and through conversations and observations, I get to know more about the customer needs. What’s the most unusual thing you have had to do as part of your job? Get to visit manufacturing plants and engage in detail the whole manufacturing process. What does your company do really well? Treat all processes as a project management process. Define, identify, plan, execute. The company was able to select, develop, deliver and market the product within 6 months. What is the vision of your company in 10 years? We would become the leading importer of Australian food in the Asian regional market.

Dennis Zhon Director What’s something most people don’t know about your company? My career background has nothing to do with the food industry. I studied computer science and aviation management in Australia, worked as project manager, compliance manager and risk manager in Melbourne, Jakarta, Singapore, Shanghai and Hong Kong. My passion about food and Australia food culture made me decided to set up my own company and brought what I love to Hong Kong. What’s your company’s connection to Australia? As an Australian, I still have many friends and relatives down under. As the director of the company, all our manufacturers are from Australia so I keep in touch with them regularly. I also fly to Melbourne on a quarterly basis. How would you describe your workplace and colleagues? Structured but relaxing environment. If our colleagues are happy, they will deliver more. What’s your favourite place to go on the week-end? Sai Kung. Hiking, chillaxing


On the Scene

Get Connected! Welcoming New Members

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oining AustCham membership is the first step, we are here to help you maximise the value and benefits of your membership.

This orientation session provides an opportunity for new members to meet the Secretariat and learn more about member benefits, AustCham's activities and advocacy, ways of promoting your businesses and how you can engage to the Australian business community.

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Big thank you to KPMG for providing us the venue and Little Birdy for the delicious Australian produce!

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REPRESENT The Australian Chamber of Commerce in Hong Kong & Macau (AustCham)

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April 2018

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M

ix at Six returns! The Chambers’ most popular networking

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drinks event is back. Thank you to event sponsor Australian

International School and venue partner Wagyu. We will see you soon in another Mixer in June. Mark your calendar!

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AustCham CSR Partners AustCham is committed to giving back to the communities in which we operate – and, importantly, in which our members operate. Not only is this good for business, it is the right thing to do. We are pleased to support our three CSR partners.

The Australian Indigenous Education Foundation The Australian Indigenous Education Foundation (AIEF) is a private sectorled, non-profit organisation focused on empowering young Indigenous people in financial need to build a brighter future for themselves and for the nation. AIEF provides scholarships that enable Indigenous students to attend leading Australian schools and universities, as well as mentoring and career support to ensure students make a successful transition from school to further studies or employment, productive careers and fulfilling lives. www.aief.com.au

Fred Hollows

The Hub

The Fred Hollows Foundation has a very clear goal: putting an end to avoidable blindness. When this day comes, people in developing countries will get the same quality eye care the rest of the world takes for granted – and they won’t stop until this is done.

The HUB is a children's support centre which provides educational support, extra-curricular classes, family counselling, social health and wellbeing services to those who need it most without discrimination.

www.hollows.org/hk/home

Hong Kong based Australians David Boehm and Bruce Stinson decided they wanted to give something back to Hong Kong after 30+ years of working and living here and the outcome was a commitment to help the children in disadvantaged circumstances. Their belief that children are the future and key for Hong Kong to continue to be a prosperous community spurred them to form a charity to give under-privileged children the opportunity to find a better environment to develop into contributing members of the community. www.thehubhk.org

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