The Australian Chamber of Commerce Hong Kong and Macau
austcham news • Issue 195 | 2017 2 Member Get Member Campaign 7 Prime Minister Visits Hong Kong 8 What a Party! AustCham Celebrates 30 Years of Business Success in Style 18 Historic Links Between HK and Australia Revealed: Jason Wordie’s Special Analysis
Call to Recognise Contribution of Australians in Asia: Bill Shorten
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. The lucky draw till take place at Austcham's Australia Day Luncheon on January 26 2018. * 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: firstname.lastname@example.org
Being Engaged It has been an extraordinary few weeks for the Australian business community with high profile visits by our Australian federal political leaders. The Prime Minister Malcolm Turnbull travelled to Hong Kong at the end of APEC, the first such visit to Hong Kong by a sitting PM since 1984. And of course, just a couple of weeks earlier, the Federal Leader of the Opposition Bill Shorten travelled to Hong Kong to address our 30th anniversary gala dinner. Hong Kong’s influence and its renown as the greatest concentration of Australian business in Asia is clearly evident – and not least the fact that (as our PM noted during his visit to the Australian International School), Hong Kong is the second largest polling booth behind London. This month marks an important milestone for AustCham with the launch of our first television advertising campaign. The campaign, undertaken in partnership with supporters ABC Television and Bill McQueen of Lime Content Studios, premiered on Australia Plus TV during the Melbourne Cup, the highest rating period of the year. Look out for the ad on air until the end of January. The 30 second advertisement showcases the diversity of our members – from large corporates to SMEs; from Australians to members from around the world (especially those of you from Hong Kong); from boardrooms to start-ups. Watching this ad, I hope you share our view that this is a chamber that reflects the diversity of its members, just as it speaks of multi-cultural Australia. Speaking of diversity, we welcome the result of Australia’s same sex marriage survey which celebrates the nation as one that is fair, just and equitable. And, with a turnout of almost 80% in a voluntary vote, this survey also speaks volumes for Australians' commitment to “having their say” – even when it is not obligatory (perhaps something other nations should consider?). The demand for business to look beyond profits and to consider the longer term responsibilities to society as a whole are growing. Two of the chamber’s top supporters, Telstra and Qantas, have been particularly vocal on their obligation to staff and the customers they serve. You might remember Alan Joyce, the Chief Executive of Qantas, speaking about this community compact and his belief in the business benefits of diversity at a chamber event earlier in the year.
austcham news issue 195 Member Get Member Campaign
Call to Recognise Contribution of
Australians in Asia: Bill Shorten
Prime Minister Visits Hong Kong
30th Anniversary Gala Dinner
What a Party! AustCham Celebrates 30 Years of Business Success in Style
Three Decades in HK: Our Milestones 16 Historic Links Between 18 Hong Kong and Australia Revealed: Jason Wordie’s Special Analysis AustCham Founding Member Ian Robinson recalls an early field trip to far flung Harbin
Snapshots from the Past
Your Chamber's Voice
Membership eCard Benefit
ANZ Brings F&B Delegation to Asia
AustCham's CSR partner AIEF is
AustCham Corporate Member Index 36
austcham news Online version
This is a continuing conversation and is a common theme amongst our senior leaders. Speaking at a recent breakfast event, Angus Armour the new Chief Executive of the Australian Institute of the Company Directors (AICD) highlighted that diversity of thought (cognitive diversity) is a key focus for the organisation. There is ample evidence to support the fact that the more diverse a board, the better the performance with studies showing this boosts profits by 1%. Finally, the sponsor of our mentor program, the University of Wollongong last weekend unveiled the new name for its Hong Kong campus (formerly the Community College of City University). The newly-named UoW College of Hong Kong was unveiled at a series of celebrations which featured an appearance by champion Australian cricketer and University of Wollongong ambassador Adam Gilchrist. I am honoured to have been appointed Chief Executive. This honour comes after many years of involvement – as an individual and corporate member and serving on two committees, with a short-time as board director. It is a tremendous legacy to carry forward and I look forward to doing so with your support. Celebrating the past 30 years with our gala dinner was a terrific way to begin. I look forward to seeing you at chamber events in the lead-up to Christmas. Jacinta Reddan, Chief Executive, AustCham
Congratulations on 30 years of helping to create a powerful voice for Australian business interests in Hong Kong and Macau. As we seek to conclude a comprehensive Free Trade Agreement with Hong Kong, your support and ideas are helping to develop a broader economic package of engagement. On your anniversary, we look towards a bright future in which we continue to work together to help shape and strengthen Australiaâ€™s substantial commercial relationships with Hong Kong and Macau.
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Message from The Consul-General
ongratulations to the Australian Chamber for an outstanding contribution over three decades. The founders, successive leaders and members of the Chamber have built an organisation with a powerful network and a voice for Australia’s
considerable commercial presence in Hong Kong, and in Macau, and one which is a significant base for our business engagement with Asia more generally. Membership participation is core to AustCham’s goals to connect, engage and represent Australian business interests. The way in which you have helped each other rise to challenges and opportunities over the years is remarkable. I would like to thank you on behalf of the Consulate, for your advice over the years on the economic and business environment here and issues which affect Australia’s interests. The quality of your advice and what we have learned from your experiences in doing business across China and Asia during a period of extraordinary change and growth, has been and continues to be invaluable. Australia’s relationships with Hong Kong and Macau continue to strengthen. Thank you for your most recent support for launching Free Trade Agreement negotiations with Hong Kong. Thank you too for your ideas and priorities for a broader economic package of engagement which can deliver benefits to business. Congratulations on your first 30 years. On behalf of the Australian Government, we look forward to continuing to work together to help shape and strengthen Australia’s substantial commercial relationship with Hong Kong, Macau and the region.
Michaela Browning Australian Consul-General to Hong Kong and Macau
Call to Recognise Contribution of Australians in Asia: Bill Shorten - Ingrid Piper
Speaking at AustCham's 30th gala dinner, Federal Leader of the Opposition says members are part of where nation needs to go.
t a spectacular gala event celebrating 30 years of business success in Hong Kong, Macau and the region, one of Australia’s most senior politicians congratulated members of the Australian Chamber of Commerce, Hong Kong & Macau (AustCham) for having had a significant role to play in helping ensure Australia’s future prosperity. Bill Shorten, Leader of the Opposition and Australian Labor Party leader, is no stranger to Hong Kong, having visited the region many times, the first, he proudly points out, as a couch-surfing student. During his latest visit, en route to Israel to join Prime Minister Malcolm Turnbull in commemorating the 100th anniversary of the battle of Beersheba, Shorten took time out to meet AustCham representatives, an event he shared with thousands of followers on Twitter. “With the Australian Chamber of Commerce, Hong Kong and Macau – discussed economic and trade opportunities for Aus Business in the region" @billshortenmp - Oct 27
Together with his wife Chloe, Shorten joined HKSAR Chief Executive Mrs Carrie Lam Yuet-ngor, Ms Michaela Browning, Australian Consul-General to Hong Kong & Macau, AustCham members and guests, for a fun-filled 30th anniversary gala dinner where he delivered a keynote speech praising members’ contributions.
I always feel a sense of pride when I see an Australian somewhere else in the world, giving it a go…” Bill Shorten, Leader of the Opposition “Tonight, you all make me feel proud to be an Australian,” he said. “I am privileged in my job, to travel around the world. I see Australian business people all over the world and I always feel a sense of pride when I see an Australian somewhere in the world, giving it a go. We are proud of the Aussie diaspora, we don’t necessarily wear it on our sleeves, apart from during sporting events. But you are part of where our nation needs to go.”
He says a Labor Government would formally seek to recognise knowledge within the Australian business diaspora, and as Australia’s largest resident community in Asia, AustCham members would have a pioneering role in this program.
If we want to celebrate the benefits of trade to everyday Australians, we must be mindful of making sure they don't feel left behind by the pace of change …” 30 Years of achievement Reflecting on AustCham’s achievements since its foundation in 1987, he pointed out that Australia, at that time, was only midway through significant economic reforms. While the Federal Labor Government was busy with major economic reforms, dismantling tariffs, floating the dollar, opening up financial markets to competition and setting Australia up for 25 years of growth and prosperity, AustCham’s members were actively engaged in the region, seeking business and trade opportunities. According to Shorten, those ties will become even more important. Closer ties “I see Asia as central to the future of Australia,” he said. “Both sides of politics in Australia understand the importance of Hong Kong. As the Chief Executive Carrie Lam has described her vision for Hong Kong, as a just, civilised, safe, affluent country, enjoying the rule of the law, compassionate and well-governed, she could have well described our vision for Australia. We need to shift our national mindset more to focus on Asia,” he said. Shifting that mindset, Shorten believes, begins with education. He suggests every child in Australian schools should have the chance to learn an Asian language. To change the current national mindset, he feels there needs to be a greater focus on Asia-capability. He questioned why 67 per cent of ASX board members have no evidence of extensive operating experience in Asia and why 55 per cent demonstrate little to no knowledge of Asian markets. “We need to place a premium on Australian capacity. You are at the front of our Asian engagement. I believe the Australian government has a role to play in recognising your contribution.”
Bill Shorten, Leader of the Opposition As a seasoned politician, the current turbulent times in Australian politics are nothing new for the Shadow Minister for Indigenous Affairs and Aboriginal and Torres Strait Islanders, who joined the Australian Labor Party at 17. After working for the Melbourne legal firm of Maurice Blackburn Cashman, he joined the Australian Workers Union in 1994. Prior to being elected to parliament in 2007, he held directorships with AustralianSuper, Australia’s largest superannuation fund, and the Victorian Funds Management Corporation. In government, he was instrumental in the establishment of Australia’s National Disability Insurance Scheme, as well increasing universal superannuation to 12 per cent. Given his background, it’s not surprising that he is mindful of the two-way nature of trade and its impact on Australian workers. “If we want to celebrate the benefits of trade with everyday Australians, we must always be mindful of making sure they don't feel left behind by the pace of change,” Shorten said. Looking ahead Mr Shorten echoed Hong Kong’s Chief Executive Carrie Lam and Consul-General Michaela Browning’s in welcoming the opportunities a bilateral Free Trade Agreement with Hong Kong will open up. “My party understands the power of free trade to create jobs, raise living standards and broaden our economic base. We prefer trade to be arranged through multilateral reform, driven by the World Trade Organisation, with regional agreements being the next best option. Of course, highquality bilateral trade deals play an important role.”
Cover Story abroad as its influence expands.2 Fears about Chinese influence over the domestic democratic process also prompted Prime Minister Malcolm Turnbull to call for a review of laws related to foreign interference.3 Regional tension
Belt and Road While Shorten urged AustCham members to take advantage of opportunities being presented by China’s Belt and Road initiative, current Australian government policy seems to be less defined. More than 60 countries have signed memorandums of understanding related to this Chinese trade initiative but not Australia. The Lowry Institute, an independent international policy think tank based in Sydney, questions why Australia has been slow to respond1 although there now appears to be some move to form a working group.
With North Korea’s aggressive nuclear stand, the issue of regional security continues to be deeply concerning and it’s one Shorten regards as above party politics. Together with Australia’s Shadow Foreign Minister Penny Wong, he visited South Korea and Japan last September, meeting government and military leaders to discuss international efforts to deescalate tensions on the Korean Peninsula. “Right now, there is a clear recognition that North Korea’s exhibitionist nuclear brinkmanship is a real threat to the security of the world. Every nation has a stake in deescalating this situation,” he said. Read Bill Shorten's full address:
Australia’s cautious approach to jumping on board the Belt and Road Initiative may in some way be related to recent high-level warnings against political pressure being exerted by China on Australian educational institutions. Frances Adamson, head of the Department of Foreign Affairs and Trade and former ambassador to China, recently urged Australian universities to resist foreign interference and warned Beijing to expect greater scrutiny of its activities
Source: Qantas C sleep banner www.theaustralian.com.au/national-affairs/dfat-chief-frances-adamson-tells-unis-not-to-tolerate-foreign-interference/news-st ad 195x55mm hires.pdf 1 4/8/2017 15:10:04 ory/5e12c71efeab01fa950e575a863d1311 . Source: http://www.afr.com/news/chinese-political-influence-sparks-espionage-foreign-interference-law-changes-20170605-gwl5ue
Prime Minister Visits Hong Kong
arking the first time a serving Australia Prime Minister has visited Hong Kong in over 30 years, PM Malcolm Turnbull visited the Australian International School on Sunday 12th November. Giving a light-hearted address to the 1000+ crowd Prime Minister Malcolm Turnbull at the Kowloon Tong with AustCham Chief Executive school, Prime Minister Jacinta Reddan and Chairman Turnbull acknowledged Andrew Macintosh. the significance of the Australian diaspora noting that Hong Kong was the largest polling booth, second only to London.
About 1000 members of the broader Australian business community including AustCham, the Australian Association, CPA and more gathered to meet the PM. Mr Turnbull encouraged the audience to keep "advancing" Australia's interests.
DECEMBER AT A GLANCE…
NOVEMBER AT A GLANCE… Tue, 28 November, 6:30pm – 8:30pm AustCham Technology and Business Program - Series II S4: Technology, Connectivity and Creativity – how internet of things evolve and heading to in the near future? Meeting Room, FTI Consulting, Level 22, The Center, 99 Queen’s Road Central, Central Wed, 29 November, 8:15am – 9:30am Breakfast Briefing with Nicholas Yang: Can Hong Kong achieve its vision to become a regional data hub? Meeting Room, Herbert Smith Freehills, 23/F, Gloucester Tower, 15 Queen's Road Central Wed, 29 November, 12:00nn – 2:00pm InterCham Luncheon with The Honourable Bernard Charnwut Chan: Hong Kong - Finding the Way Forward Harcourt Suite, 1/F, Hong Kong Club, 1 Jackson Road, Central
Funds raised from the community sausage sizzle will go to aid the Fred Hollows Foundation. The Prime Minister also met with Hong Kong SAR Chief Executive Carrie Lam to discuss the Free Trade Agreement as well as held meetings with senior leaders in innovation.
Fri, 1 December, 8:00am – 11:05am The Future of Transportation: Can Hong Kong Embrace the Revolution? Media Centre, The HKT Hong Kong E-Prix (Hong Kong Central Harbourfront area) Wed, 6 December, 12:30pm – 2:00pm Is there a Future for Newspaper? Innovation Lab, Commonwealth Bank of Australia, 13/F, One Exchange Square, 8 Connaught Place, Central Wed, 6 December, 7:00pm – 8:30pm AustCham UOW Mentor Programme: Unconscious Bias Workshop Meeting Room, KPMG, 8/F, Prince’s Building, 10 Chater Road, Central Tue, 12 December, 6:30pm – 8:30pm AustCham Technology and Business Program - Series II S5: What is big data and why should I care? Insight Centre, KPMG, 8/F, Prince’s Building, 10 Chater Road, Central Thu, 14 December, 6:00pm – 9:00pm Christmas Mix 2017 Garden Lounge, 4/F, The Hong Kong Club, 1 Jackson Road, Central
30th Anniversary Gala Dinner
What a Party! AustCham Celebrates 30 Years of Business Success in Style - Ingrid Piper
ustCham celebrated its 30th anniversary of engaging, connecting and representing the nation’s business, trade and investment with a gala dinner, hosted by evergreen entertainer Daryl Somers. The former Hey Hey It’s Saturday host was quick to point out that his program and AustCham shared an anniversary in common, having both been in business for three decades. From its early years as a business lunch club, AustCham has grown to become the largest business chamber outside of Australia and second largest of the 27 international business chambers operating in Hong Kong. Today, its 1,500 members represent more than 500 Australian and local companies.
I’d like to thank AustCham for its vote of confidence in this city and I wish all of you the best for your future. I truly believe the best is yet to come for Hong Kong …” Carrie Lam Yuet-ngor, Chief Executive HKSAR As it looks towards the next decade, AustCham chairman Andrew Macintosh thanked numerous dinner guests who contributed to its past success. “Over the years, AustCham Hong Kong & Macau has faced many challenges including the global financial crisis, MERS and SARS, but tonight is a celebration of the future,” Macintosh said before welcoming Jacinta Reddan as its new Chief Executive. Ms Reddan moved to Hong Kong in 2007, and has worked across corporate communications and marketing in Asia. He also announced a new joint chamber Greater Bay Area committee to strengthen business ties between Hong Kong, Macau and the Greater Bay area and launched AustCham’s first TV advertisement to attracting new members. The advertisement will screen on Australia Plus TV. “Like Hong Kong, we have evolved over the past three decades. No longer is the chamber only about supporting
Australian businesses in Hong Kong and Macau. Today, AustCham is about supporting Hong Kong and regional investors who provide capital investment into and from Australia; as well as supporting Australian businesses looking to explore opportunities to our north, from our Hong Kong base, while supporting thousands of Australian businesses, who call Hong Kong home,” Macintosh said. Introducing Hong Kong’s new Chief Executive Carrie Lam Yuet-ngor, Michaela Browning, Australia’s Consul-General to Hong Kong and Macau described Mrs Lam as a steadfast and long-standing friend to AustCham and Australia. “Carrie Lam recently delivered an extraordinary policy platform both for its breadth and depth. She’s laid out a visionary platform of new opportunities for Hong Kong, around innovation, growth and social inclusion. She has been an early advocate for a Free Trade Agreement (FTA) with Australia since 2015,” Ms Browning said. Obviously enjoying the evening’s relaxed mood, Mrs Lam admitted the event was her fifth public function on the day but one she’d been looking forward to since June, when she kick-started AustCham’s anniversary celebrations. Addressing an appreciative and welcoming audience, Mrs Lam said she’d last visited Australia at the invitation of the
Minister for Foreign Affairs Julie Bishop. She emphasised Australia’s relationship with Hong Kong was a two-way exchange with around 50,000 young Hong Kongers working and studying in Australia.
Over the years, AustCham Hong Kong & Macau has faced many challenges but tonight is a celebration of the future …” Andrew Macintosh, Chairman, AustCham, Hong Kong & Macau
“I’d like to thank AustCham for its vote of confidence in this city, and I wish all of you the best for your future. I truly believe the best is yet to come for Hong Kong as we continue to benefit from our one country, two systems,” Mrs Lam said. Referring to her October maiden policy speech, Mrs Lam confirmed her determination to lower taxes for small and medium enterprises (SMEs) to 8.5 % for the first HK$ 2 million, with the remaining profits to be taxed at Auscham ad.pdf
the current rate of 16.5%, a move welcomed by AustCham where approximately one-third of members operating SMEs. Mrs Lam said FTA negotiations between Hong Kong and Australia were a priority and indicated an agreement could be signed as early as 2018. The successful sell-out on October 27 at the Island Shangri-La, Admiralty, was made possible through the generous support of AustCham’s sponsors ANZ, CLP and CK Infrastructure Holdings.
Congratulations AustCham on your 30th Anniversary
7 Convenient locations
The Only Clinic Group in HK accredited by the Australian Council on Healthcare Standards
Message from The Chief Executive
wish to convey my warmest congratulations to the Australian Chamber of Commerce in Hong Kong and Macau on its 30th Anniversary. Being the largest Australian business chamber in the world, AustCham is itself a testimony to the long and cherished bond
between Australia and Hong Kong. Beginning as a business lunch club, AustCham has evolved into a very important trade organisation in Hong Kong, representing more than 550 Australian and local companies. The notable contribution made by AustCham in promoting the bilateral ties between Australia and Hong Kong over the past three decades is obvious to all. While we are proud of our strong economic ties, we are not settling for just that. As we celebrate the 30th Anniversary of AustCham and the 20th Anniversary of the Hong Kong Special Administrative Region this year, the commencement of bilateral free trade agreement negotiations between Australia and Hong Kong in May offers us yet another great and timely reason for raising our glasses. I am confident that a bilateral free trade agreement will be instrumental in fostering closer economic relationship between our two economies. It will also provide a platform for our businessmen and investors to exploit the untapped opportunities and further expand their businesses in each otherâ€™s market. Looking ahead, building on the solid foundation of our friendship, I am sure that our bilateral ties will continue to reach new heights in the years and decades to come. May I congratulate AustCham on its 30th Anniversary and wish its members continued success and the best of business.
Carrie Lam Chief Executive Hong Kong Special Administrative Regian
30th Anniversary Gala Dinner AustCham celebrates 30 years in Hong Kong with members and the community on Friday 27 October 2017 at Island Shangri-La Hotel. Great honor to have Keynote speaker The Hon Bill Shorten MP, special guest HKSAR Chief Executive Mrs Carrie Lam and Australian Consul-General to HK and Macau Ms Michaela Browning joining us on the evening!
Thank you to our Lead Sponsor ANZ, Gold Sponsors CLP and Cheung Kong Infrastructure, and all supporting partners on the evening.
A BIG THANK YOU TO OUR PRIZE SPONSORS
Highlights from the Gala Dinner are available on our YouTube channel!
30th Anniversary Gala Dinner
Message from the Chairman
would like to extend a big thank you to everyone involved in the 30-year anniversary celebration of the Australian Chamber of Commerce in Hong Kong and Macau. This milestone is a remarkable achievement during an extraordinary time in our region’s history which has seen the rise of the Asia story and of course, the growth of this remarkable city. Our gala dinner was a huge success. We are grateful to our lead sponsor ANZ, our gold sponsors Cheung Kong Infrastructure and CLP, and our supporting partners and sponsors for their unfailing support of the evening. Its success reflects the way in which the chamber, like Hong Kong, has evolved over the past three decades. No longer is the chamber focused solely on supporting Australian businesses in Hong Kong; today AustCham is about supporting Hong Kong and other regional investors who are providing much needed capital and investment into Australia. It is about supporting over one thousand Australian businesses, small and large who all call Hong Kong home or indeed, home to their regional headquarters. We all contribute – and many have done so over the past 30 years - to this fabulous dynamic world city and we are truly honoured that our special guests, Chief Executive of HKSAR, Mrs Carrie Lam and The Federal Leader of Opposition, Mr Bill Shorten were able to join us to celebrate AustCham’s 30-year anniversary And just as we are reflecting on how far we have come during the past 30 years, it is also very much about looking to the future. We are pleased to announce a new joint-Chamber (Greater) Bay Area Committee. This is a region in the Pearl River Delta which has a collective GDP that is equivalent to that of Australia’s. With Hong Kong, Macau and nine mainland cities, this region is at our doorstep and it makes sense for us to give it special focus. Thank you to Martin Darveniza from Macau, and Alfred Leong from AustCham Southern China for their support of the joint-Greater Bay Area Committee. The Committee will help strengthen business ties between Hong Kong and Pearl River Delta to support the two-way flow of business and investment. AustCham looks forward to working with Mrs Lam, and her administration to help promote this opportunity and to realise its potential for Australian and Hong Kong businesses looking to participate directly in this vision. The AustCham Board of Directors is pleased to announce the appointment of the Chamber’s new Chief Executive – Ms Jacinta Reddan. Jacinta is well-known to many of our members, having been involved in the Chamber over many years and most recently as Vice-Chair of our Financial, Legal and Tax Committee. With Jacinta and her team, your Board is confident that the Chamber is well-positioned to face the challenges and opportunities in Hong Kong’s exciting future. I would also like to take this opportunity to acknowledge the AustCham Secretariat for all their hard work over the months, from planning to execution. They continue to go above and beyond, the call of duty to ensuring the success of the Chamber and the gala dinner was no exception. As always, with resolute determination, we will continue to connect, engage and represent our members and the Australian business community in the years ahead.
Andrew Macintosh Chairman of The Australian Chamber of Commerce Hong Kong and Macau
AustCham By Numbers
Largest Australian business community outside Australia
Second large international chamber in Hong Kong
Events per year
Years of Business Excellence
Attendance to AustCham events
Three Decades in HK: Our Milestones Full Page Jan 2017.pdf 1 Wednesday 25/01/2017 2:16:23 PM
Australian International School Hong Kong
Connect, Strive, Flourish AU$2.79 billion
Establishment of AustCham
Chairman David Shannon met Lu Ping, Director of the Hong Kong and Macau Affairs Office
The 1,000th AustCham member signed on in December
Australian International School Hong Kong is a premier learning environment, enabling and nurturing each student’s academic, cultural, physical and emotional well-being. In senior years, students can opt to study either the NSW Higher School Certiﬁcate (HSC)1990 or the International Baccalaureate (IB) Diploma, allowing a seamless AU$1.3transition billion to all universities in Australia and around the world.
Australian exports to Hong Kong reached AU$2.79 billion 8,000 Australian expats living in Hong Kong
Inaugural AustCham Business Awards
Mission trip to Vietnam and Laos
Australian International School opens AustCham changed logo with an “A” represented an arrow pointing towards Asia
Australian population in Hong Kong doubled and reached over 16,000
Chairman Phil Day signed co-operation agreement with Vietnam Chamber of Commerce
www.aishk.edu.hk email@example.com 3A Norfolk Road, Kowloon Tong
Number of member joined over
86 20 years
Number of new members joined in the last five years: 903 AustCham’s first television campaign is now air on ABC’s Australia Plus TV. Watch out for the 30 second advertisement – which showcases our diverse membership base!
1997 AustCham 10th year anniversary party with John Farnha
Asian financial Crisis
Memorandum of Understanding on ‘AustCham Greater China’ signed at Region Forum
Establishment of AustCham Macau
Handover of Hong Kong back to China
2017 Hong Kong is Australia’s 5th largest source of FDI destination
AustCham Hong Kong and Macau officially joined the AustCham Greater China
100,000 Australian expats living in Hong Kong 20th Anniversary of Hong Kong Special Administrative Region
Historic Links Between Hong Kong and Australia Revealed: Jason Wordie’s Special Analysis
ong Kong and Australia have been closely interlinked by a multi-faceted, unexpected series of emigration, educational, business, journalistic and even botanical connections that stretch back to the early 1840s.
Links between Australia and the broader Pearl River region go back even earlier than the establishment of Hong Kong itself; in the first decades of the nineteenth century, tea-freighters regularly plied between the city of Canton and the newly-established penal settlements of Sydney and Hobart; coarse-grade China tea, in those years, formed a standard ration issue for convicts in both colonies. Beyond tea, however, Hong Kong and its surrounding region have other unexpected links with Australia’s convict past. Chinese convicts – sentenced by the local courts to banishment from one British colony to another - were regularly transported from Hong Kong to Tasmania in the 1840s and 1850s. What became of them after transportation has been lost to history, though some reports indicate that a few eventually returned to China at the expiration of their sentences. Principal early connections between Hong Kong and Australia, however, were linked to successive Australian gold rushes, and subsequent rapid influxes of hopeful new arrivals. Major gold
strikes at Beechworth, Ballarat and Bendigo in Victoria in the 1850s, and Charters Towers and the Palmer River in north Queensland in the 1870s, saw large numbers of Chinese fortune-seekers flood in to try their luck on the new gold fields. Early migrants to Australia were mostly Cantonese-speakers who originally hailed from towns and villages from around the Pearl River delta region. Due to Hong Kong’s emerging port infrastructure, and the various established businesses, such as passage brokers, outfitters, money-lenders and remittance agents, that could be found here, most early Chinese migrants to Australia travelled via Hong Kong and, in the process, established ongoing local links that were perpetuated throughout their lifetimes - and beyond, in many instances. (SEE BOX) From the early 1850s onwards, Australia became known in the Cantonese world as the “New Gold Mountain” (“Old Gold Mountain” referred to California, and more generally North America) and these earlier designations still persist in many Chinese-language sources. From such tentative beginnings, a sizeable Australian-Chinese population eventually evolved by the end of the nineteenth century. After an early start on the goldfields, which allowed for some accumulation of capital, numerous Chinese entrepreneurs opened their own successful small businesses; by the early
twentieth century, Chinese general stores and market gardens were commonplace right across regional Australia. So too – perhaps to the surprise of some today – were the establishment of small, well-integrated “Chinatowns” scattered across regional Australia with close, ongoing Hong Kong business and family links. These community centres helped keep newcomers in touch with their original places of origin, allowed them to explore commercial possibilities, and forged tentative connections with other ethnic groups in Australia’s emergent frontier settler society. Some small trading businesses expanded so successfully that eventually, their founders brought a Western-inspired retail model back to China. Wing On Department Store – a familiar household name to generations of Hong Kong people – was originally established by the Kwok family, who started out with a small fruit shop in Australia in 1897. In 1907, the Kwok family moved up to Hong Kong with their accumulated assets and set up a department store. The family also developed their own bank, the Wing On Bank, Wing On in Hong Kong 1920s. which (like many Chinese family-owned banks) also had a profitable line in money remittances from Australia back to ancestral villages in China, via Hong Kong. In 1900, Ma Ying-piu, another early Chinese settler, returned to Hong Kong from Australia and opened Sincere Department Store, directly modeled on the famed David
t the beginning of Hong Kong’s British era, in 1841, steep hillsides on the numerous islands right around the eastern side of the Pearl River estuary were almost completely bereft of trees – the “Barren Rock”, as early photographic confirmation attests, was not merely a dismissive Victorian expression for Hong Kong Island. It was an evidence-based fact. With no rivers, lakes or other substantial natural means of water supply, construction of sizeable reservoirs for the new colony’s rapidly growing settler population was essential. Significant infrastructure work started in the 1850s, with the Pokfulam reservoir as the first, and development continued into the 1970s. Successful re-afforestation was vital for early water supply provision, as the catchment areas of new reservoirs had to
Jones store in Sydney. Prior to the Communist assumption of power in 1949, the Sincere Company had stores in Shanghai, Nanning and Canton, as well as Hong Kong. There were many other connections between Hong Kong and Australia in these early years; here are only a few more significant – or less well-known - examples. For some years after Federation in 1901, Australia’s individual crown colonies maintained separate overseas representations, and each had their own appointed trade agents in Hong Kong. These agencies dealt with local trade matters, in addition to their own business activities which usually handled items from a particular Australian colony; to cite but one example, Rosario and Co., a long-established local Portuguese firm, were the official government agents for Queensland. From the 1890s onwards, raw sugar was imported from Queensland coastal ports to Hong Kong, where it was refined into white sugar at modern refineries in Causeway Bay (the China Sugar Refinery, owned by Jardine Matheson and Co.) and at Quarry Bay (Taikoo Sugar was a subsidiary of shipping and general trading conglomerate Butterfield and Swire) for both local consumption and re-export to elsewhere in Asia. Terminal production in Hong Kong meant that Australian sugar was regarded as a British product, and so qualified for a lower tariff in certain customs jurisdictions, such as China and Japan. Taikoo Sugar Factory in early days.
be established and then protected. Australian species predominated – mainly acacia and melaleuca, as these were hardy, cheap to propagate, and wind- and fire-resistant. Eucalyptus varieties were not widely planted, partly due to their flammability, and partially because these species were found to be susceptible to local insect pests such as wasps. In particular, various species of melaleuca – the famed “Tea Tree” from coastal Australia - was extensively introduced around reservoirs, and in low-lying areas across the New Territories as a roadside planting, where they helped to absorb moisture, and provided welcome shade as well. Mature melaleuca specimens can still be seen around Fanling and Yuen Long. Australian introductions also helped develop an indigenous honey industry, as both acacia and melaleuca are excellent species for the encouragement of bees.
Other Australian primary products soon gained market prominence in the Hong Kong market. The advent of more widespread refrigerated shipping from the 1890s onwards meant that local newspapers carried regular advertisements for fresh Australian fruit, meat and dairy products – as they still do today. Tinned equivalents, such as evaporated milk and butter sourced from Australia, and tinned peaches, pears, plums and other temperate fruits, had been imported into Hong Kong for more than two decades before refrigerated transport became commonplace, and – as popular cultural foods in Hong Kong kitchens – still remain key import items today.
From the late nineteenth century onwards, Australia became a popular place to holiday for wealthier Hong Kong residents and – for some – the country became an eventual retirement destination. To help enable this passenger and freight traffic, the Australian Oriental Line was formed in 1912 to trade between east Coast Australian ports and Hong Kong. Five ships were purpose-built in Hong Kong, by the Hong Kong and Whampoa Dock Company in Hung Hom, for the Hong Kong to
Melbourne run. After half a century of successful operations, the shipping line eventually closed down in 1961 when competition between air transport and larger, more efficient vessels made the services uneconomic. Regular passenger air services to Japan via Hong Kong commenced on QANTAS in 1949, which marked the beginning of an annually increased tourist and business trade that expanded further after jet services were introduced from the late 1950s. There are now several direct daily flights from each Australian state capital city to Hong Kong, on various airlines, and air transport connections continue to grow. Multi-faceted, long-established links between Hong Kong and Australia are far more comprehensive than many long-standing residents of either place even begin to realize, offer profound intercultural connections and an understanding of the two-way process of migration movements and cultural exchange, and await further exploration and more detailed research.
ost early Chinese migrants to Australia (as well as California and other popular locations) went as sojourners. Economic migrants who transplanted themselves to make a living - not a home – they fully intended to return to their home village in China when they had earned enough to provide a comfortable life there for themselves and their families. While most emigrants spent the rest of their lives in their new lands, and made infrequent returns to their ancestral villages, they nevertheless intended to return home one day – either living or dead. Being buried in a strange place, where there were no other family members buried and appropriate post-mortem and seasonal rituals could not be performed, was considered the worst possible ultimate fate for a Chinese emigrant. As a hungry, uncared-for ghost, the prospect of being abandoned in “The Other World” was even more fearful for emigrants. Not all sojourners achieved their ultimate aim of a return home while still alive, and in both Hong Kong and Australia, Chinese charitable organisations came into being that enabled the dead to eventually return to rest in peace in their place of origin. Bodies were temporarily buried in Australia, eventually exhumed and their bones returned, first to Hong Kong and then to ancestral villages in the Chinese interior. Established in Hong Kong in 1870 to – as its foundation charter makes clear – “look after the dead, as well as the living” – the Tung Wah Hospital Committee, in tandem with various Chinese community organisations in Australia, organized and oversaw this process. After some unfortunate early experiences, when unscrupulous Australian ship’s
Tung Wah Hospital in 19th century.
captains dumped Chinese bone-boxes overboard at sea, after first taking the passage money, the Tung Wah Hospital Committee provided a live escort with shipments from Australian ports to ensure that the remains were securely embarked, respectfully treated in transit and safely disembarked at the Hong Kong end. The Man Mo Temple Committee (the precursor of the Tung Wah Hospital Committee) based from the temple of the same name on Hollywood Road in Hong Kong, first assisted with this process, and built a receiving station in Kennedy Town in 1875 for the purpose of receiving and storing human remains prior to their return to ancestral villages. At Pokfulam, on Hong Kong Island’s western coast, the Tung Wah Coffin Home, built in 1899 as a replacement for the Kennedy Town facility, is where where many Chinese sojourners to Australia completed their final stages of their journey home. It can be visited today, and is still in use.
CONNECTING BUSINESS ACROSS CONTINENTS For over years, NAB has been connecting businesses across Asia, Australia and New Zealand. We’re proud to support the Australian Chamber of Commerce (AustCham) in Hong Kong in celebration of their th anniversary. To find out more about how NAB can help your business call + or visit nationalaustraliabank.com
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AustCham Founding Member Ian Robinson Together with Alfred Chown Recalls an early field trip to far flung Harbin - Ian Robinson & Alfred Chown
n its early days as a service to its members, AustCham held a number of successful Pearl River Delta Business Study Trips. The trips continued even after Tianamen, and in 1992 Deng Xiaoping went south and proclaimed “to get rich is glorious”, so AustCham looked north for new inspiration as China began its period of extraordinary economic growth. Where better to travel than where China meets North Korea meets Russia – Heilongjiang. Accompanying me on this epic adventure were chamber stalwarts Phil Day, Peter Bennet, Alan Smith, Clive Shepard, Madame Shen, Alfred Chown and Yang Dayang. Harbin, the first location that we visited was an amazing place with a strong Russian influence. On the Songhua Jiang River, it has a freezing climate in winter and to our surprise we even found some Australian products that were displayed in the huge underground shopping centres! The group also visited a high tech factory run by Koreans and the Harbin Trade Fair.
City Square at Suifenhe.
the border and in contrast to China, Russia’s side of the border was quiet and sedate. Nobody was around and the crops had not been harvested (The Russians had not paid the Chinese for the previous year’s harvest). We meandered through vast plains with some large communication stations dotted along the way and large tank instillations all lined up and ready to roll – if only they had engines! It was a long trip to Vladivostok, and the countryside was filled with vast plains, very few vehicles and old derelict ships. We found our accommodation which was originally built for the Leonid Breschev - Gerald Ford summit and was easily the best building in Vladivostok. As we were served Russian canapes and champagne visiting various businesses, we learnt about a young Australian entrepreneur from Melbourne who was dominating Vladivostok business circles.
Harbin Trade Fair.
Our dinner that night was hosted by the Harbin Chamber’s Chairman. Too late we discovered some of the dishes had included Camels Hump Soup, Monkey & Mushrooms, Ricebirds, Fugu, Flying Fox, and a dessert made from Frogs’ Ovaries! The odyssey had started. Departing from Harbin we took a 12 hour overnight train to Suifenhe passing signs written in English “We welcome foreign investment”, in the middle of nowhere? Suifenhe – the new Shenzhen. A bustling town with hustlers trying to barter and trade their Russian watches and furs etc. for anything we had. Austrade joined us for the jump over
We even ate at a restaurant called Captain Cook, where the owner had apparently lived in Australia for a while. Passing armed security guards in front, we ate Beluga caviar at USD $2 per bowl inclusive of a bottle of Stolychnaya vodka. Why wouldn’t we go back?
AustCham delegation member Peter Bennett, Alfred Chown and Owen Smith enjoyed Australian food at Vladivostok’s Captain Cock Restaurant.
the place was full of ex-Spetsnaz Russian mafia, but our dinner was otherwise lovely, accompanied by choreographed stage performances to the sound of Balalaikas. As I went to the bathroom 3 storeys down I was shadowed by the waiter who stood watch. His words of explanation were â€œSir, extremely dangerous.â€? Safe to say no one went to the bathroom after that. Unfortunately space is short to share the entire trip, but it was wonderful and worth every moment.
Traders in Suifenhe trying to sell the delegation furs in exchange for cameras.
During our visit to the local markets I noticed a sharp comparison to the usual rowdiness I was accustomed to. The markets here were still; the stall owners simply stood in front of their stall quietly holding their best product. I must say it was weird! Our final night in Vladivostok was at a typical old fashioned Russian restaurant taken straight out of American Prohibition. The dress code was strict, and our entry was permitted only after being viewed by a sliding peep hole in the door. Inside our Austrade minders warned us not to make eye contact as
AustCham delegation met Sofie Xue (third left) from Harbin Tourist Corporation and Zhang Ji-hua (fourth right) from the Harbin Foreign Economic Trade Commission in Harbin.
For more photographs from this fascinating trip scan here:
Snapshots from the Past
A look back at 30 years of networking Since 1987, AustCham has been devoted to driving business between Australia and Hong Kong, organising countless events and networking opportunities over the years: many of which led to thiriving businesses today. Were you part of our rich networking historyâ€Ś.?
1. Bob Hawke (middle) gets together with Bronwyn and Grahame White in the ABA Dinner in 1993. 2. Christopher Hay with Michael Smith at an AustCham Luncheon in 1993. 3. Warren Bishop, Peer Becker, Denise Bishop and Jo Becker at the 1993 Rugby Sevens Lunch. 4. AustCham Past Vice-Chair Tom Corkhill with his wife Michelle and guest Evelyn Fyfe at ABA Dinner in 1993. 5. Former SA Minister John Olsen with Roger Fordham at a SA promotion event in 1994. 6. Johnny Nee with May Tang at Melbourne Cup event in 1994. 7. Pancy Cheung, Rae Ma and Mandy Ly at the Business Awards Dinner in 1995. 8. Grace Mak of National Australia Bank with Cathy Delaney at the Business Awards Dinner in 1995. 9. Peter Chan with Former Chief Secretary Anson Chan at an AustCham luncheon in 1995.
1. Carole Maher, Wal Gibson, Benny Lau and Nicholas Kang at the Business Awards Dinner in 1995. 2. Former HKSAR Chief Executive Tung Chee-hwa met AustCham directors in 1997. 3. Freddy Li with Glen Myatt at the Tung Chee-wha luncheon in 1997. 4. Simon Lee, Angela To and Chris Johnston at the Tung Chee-wha luncheon in 1997. 5. John Davison of Kao, Lee & Yip with John Mathias at Rugby Sevens Lunch in 1997. 6. Over 200 guests attended the Chris Patten Lunch in 1997. 7. AustCham Delegation Trip to Beijing in 1997. 8. Matthew Cheng with Timothy Fok, Damian Brown and Former Australian Consul General Bill Tweddell at the Olympic Countdown Cocktail in 1999. 9. Past Chairman Alan Johnson with Former Prime Minister Gough Whitlam at the celebration of AustChamâ€™s 15th Anniversary celebration dinner. 10. Australia Day Lunch with keynote speaker Tracey Holmes. 11. Matthew Robertson, Garry Stuchbery and Bill Castellas at September Mixer in 2005.
Snapshots from the Past
1. H L Kam of Cheung Kong Infrastructure, Hononary Member Fred Lam of HKTDC and Ivy Lam at the Chairmanâ€™s Dinner in 2005. 2. AustCham directors met Bob Carr in 2006. 3. Advisory Council Member David Li with Julie Chater at an AustCham luncheon in 2006. 4. AustCham mission trip to Zhuhai in 2007. 5. Past Chairman Alfred Chown (second from left) with guest speaker Nick Green at the Olympic Countdown Dinner in 2007. 6. Robert Court with Alan Child of Knight Frank and Sara Zhang at Mix at Six in 2007. 7. Past Chairman Clement Chan with Former ANZ CEO Mike Smith at a business luncheon in 2008. 8. Brigid Paton with Barry Bede at the Olympic Opening Ceremony Dinner in 2008. 9. Guest speakers of Regional Forum in 2010, Richard Lancaster of CLP, Mina Guli, Former AustCham Director Sandy Edge and Former CPI Committee Chair Stephen Porter. 10. AustCham China Forum in 2012.
Message from Canberra
early thirty years ago, as a newly minted graduate, I was in Hong Kong to study Northeast Asian perceptions of Australia as a manufacturing nation.
As a Royce scholar inspired by Ross Garnaut’s Northeast Asian ascendancy, I travelled to Hong Kong, China, Japan, Taiwan and South Korea to interview officials, business people and journalists on their views of Australia beyond the “quarry and the farm”. Then, Australia was keen to promote itself as not just a producer of minerals and meat, but a source of “simply and elaborately transformed manufactures”. Then, the concept of Australia as a source of services and innovation was just in its infancy. I stayed with a family friend who had a young, but thriving business connecting Hong Kong students to Australian secondary schools. Today, education is one of the anchors of the bilateral relationship. In 2016, there were 119 formal agreements on education between Australia and Hong Kong, covering student and staff exchanges, academic and research collaborations and studies abroad. Around 120,000 students from Hong Kong have gained qualifications from Australian universities. And in 2015 and 2016, Hong Kong ranked 10th as a source country for international students to Australia. And while we’re still a farm – and proud of that – our products now include high-quality food and beverages for Hong Kong's hotel and restaurant sector, such as wines, fresh and chilled seafood, premium fruit, nuts, vegetables and dairy products. And our STMs and ETMs are now telecommunications equipments and parts and services, with Hong Kong now Australia’s seventh largest services market. Happy 30th Birthday AustCham. What began as a bright idea over lunch 30 years ago has become a powerhouse of Australian talent across every sector. And with 100,000 Australians living in Hong Kong, the next 30 years only promise to be brighter. Gai Brodtmann MP, Federal Member for Canberra and Shadow Assistant Minister for Cyber Security and Defence
Your Chamber's Voice Australia-Hong Kong FTA Negotiations Changes to HKEX Listing Rules he third round of negotiations on the Australia-Hong - Call for Submissions
Kong Free Trade Agreement was held in Melbourne from 10 – 14 October. Significant work was undertaken by both sides between the second and third round to develop positions, which enabled negotiators to make good progress during the round on chapter text. Negotiators also had a meaningful and detailed exchange on key commercial interests. The Australian government is continuing to focus on strong outcomes across all chapters proposed in the agreement, in particular government procurement and services, including professional, financial, education and transport services. Further meetings are expected to take place in Hong Kong later this year. The Department of Foreign Affairs and Trade continues to welcome written submissions from individuals and organisations on the potential opportunities and impacts of a Free Trade Agreement with Hong Kong. Submissions can be lodged via email to firstname.lastname@example.org. Submissions may also be lodged by mail to: Australia-Hong Kong Free Trade Agreement Office of Trade Negotiations Department of Foreign Affairs and Trade RG Casey Building John McEwen Crescent Barton ACT 0221
Membership eC k Than ! You
he Stock Exchange of Hong Kong is seeking views on a review of the corporate governance code and related listing rules. AustCham is developing a submission on this consultation and we encourage all members to make a contribution and to participate in this important initiative. The proposal touches on important issues concerning diversity on boards and “overboarding” of independent directors. More details on: http://www.hkex.com.hk/news/newsrelease/2017/171103news?sc_lang=en If you would like to contribute to the AustCham submission, please send bullet points to Emily Li (Emily.email@example.com) by no later than December 4. This is an important consultation and we also strongly encourage you to make your own submissions to ensure that our views are heard.
ustCham Construction, Property and Infrastructure ‘s Vice-Chair Peter Weiley recently visited Melbourne Metro Rail Authority and met government officials at the Office of CoordinatorGeneral, Major Transport Infrastructure Program. The meeting followed a dinner with Victorian Minister for Major Projects Jacinta Allan with AustCham in July. Peter is part of the Construction, Property and Infrastructure Committee who are working with the Hong Kong Government in an effort to help address critical poor productivity by introducing Australia's industry innovation and best practice.
From left to right: Samson Lam (DEVB, HKSAR), Jamie Driscoll (Director of Strategy), Corey Hannett (CoordinatorGeneral), Peter Weiley (Advisian), and Jeff Li (Advisian) at the Office of Coordinator-General, Major Transport Infrastructure Program, Melbourne.
ANZ Brings F&B Delegation to Asia ANZ Australia invited a group of over 20 food, beverage and fast moving consumer goods (FMCG) exporters to take part in a week-long delegation program in Shanghai and Hong Kong. Customer delegates were joined by ANZ bankers and hosted by the ANZ International Business Development team, which is based in Melbourne.
The ANZ Opportunity Asia Delegation program included seminars on doing business in China and South East Asia and highlighted the benefits of leveraging logistics capabilities of Shanghai and Hong Kong. Presentations and panel discussions also included insights into consumers, marketing, ecommerce and digital payments, along with a strategic branding workshop on Food & Beverage for Chinese consumers. The aim of this program was to engage Australian brands with the Asian market, progress their export ambitions and ultimately boost their existing sales. For some exporters who already have a presence in the region, it was an opportunity to meet new prospective buyers and distributors as well as fine tune their approach to the market. “Demand for quality Australian products and services from consumers in Asia has never been greater. With Asia being the fastest growing region in the world, the local appetite for Australian exports just becomes more pronounced.” Kunal Dey, Head of Global Subsidiaries Group, ANZ Hong Kong. Less than a third of the attendees had been to China before and very few had visited in the last five years. So the program presented an excellent opportunity to get an on ground market update and realise the first-hand rapid pace of change.
The delegation featured large networking events arranged by ANZ, including a dinner in Shanghai to launch the 2017 ANZ Opportunity Asia Report (http://betradeready.anz.com/ OpportunityAsia). The trip also included a Product Showcase event hosted at the ANZ Hong Kong office. Guests included industry advisers, along with buyers and distributors who were able to sample their food and beverage offerings and talk with the customer delegates about their products and their business. Another highlight of the delegation included a site tour of the Alibaba HeMa Fresh supermarket in Shanghai. The innovative store format provides a range of fresh produce; live seafood and FMCG products which can be purchased instore via an AliPay account and any smartphone, allowing online orders to be taken and delivered for free in just 30 minutes within 3 kilometre radius of the store. In Hong Kong, delegates headed out to Kerry Logistics and King’s Wing Group to see the large scale operations in person, including freight forwarding, cold chain and eCommerce distribution. “As a bank that is committed to Asia, where we are focused on supporting customers with trade and capital flows in the region, ANZ is here to help these companies. In Hong Kong, we have a dedicated Australian desk that can service customers and it is equipped with a team that is knowledgeable about the business and macro environment in both Australia and Asia.” Farhan Faruqui, Group Executive, International at ANZ. ANZ runs the Opportunity Asia Delegation every six months. For more information, email firstname.lastname@example.org
Creating More Incentives to attract Regional Headquarters to Hong Kong
ustCham Platinum Patrons KPMG proposed the introduction of a regional headquarter (RHQ) tax incentive in Hong Kong in its report titled ‘The Case for a Hong Kong RHQ tax incentive’ that was recently released. The Report highlights the key locations in the Asia Pacific region that have been successful in attracting multinational corporations (“MNCs”) to establish RHQs and the factors that have led to their success. Darren Bowdern, Partner and Head of Financial Services Tax KPMG Hong Kong, talks of the need for Hong Kong to increase its competitiveness as a regional RHQ location: “Taxation is an important consideration for MNCs in considering the establishment of RHQs in the Asia Pacific region. Singapore has clearly been successful as an RHQ hub through the use of an incentive framework. Hong Kong needs to replicate Singapore’s success and implement an RHQ tax incentive to complement its strengths as a leading international financial centre and business hub. An RHQ tax incentive in Hong Kong would attract more MNCs to use Hong Kong as an RHQ hub and thereby increase Hong Kong’s status as an international business hub in the Asia Pacific region.”
Asia RHQ in Hong Kong - Top 5 jurisdictions of parent company
Tax efficiency and simplicity are key parts of the decision making process of an MNC when it is deciding on where to establish its RHQ. Introducing an RHQ tax incentive in Hong Kong is a necessary step to ensure that Hong Kong retains its position as a leading financial services hub and as an attractive RHQ location. To download full version of the proposal: http://bit.ly/2ytDOGZ
Account Opening Guides for Hong Kong Businesses
o support the start-up community and small businesses, HSBC recently launched an account opening guides for these growing businesses. The series of short films explains the process from beginning
Episode 1: Account Opening Process - covers the key steps involved, from appointment booking to account activation
to end, in order to help the business community have a clearer understanding of the current requirements for account opening. One episode is dedicated to start-up companies.
Episode 2: Understanding Your Business – explains the four key areas that will be discussed during the account opening meeting and supporting documentation requirements
These films can be found on the HSBC website and HSBC HK YouTube Channel. You can access them via: www.business.hsbc.com.hk/bizeseries
Episode 3: Account Opening for Start-ups – provides two scenarios covering a startup from overseas and a new start-up wanting to open a business banking account in Hong Kong
AustCham's CSR partner AIEF is nation-changing - A success story from AustCham’s CSR Partner AIEF
’m mostly grateful for this opportunity because it has made me the person I am today, and without those opportunities I wouldn’t know who I’d be right now.
supports over 500 scholarship students and a network of more than 400 scholarship graduates. The graduating AIEF class forms an important part of the growing cohort of Indigenous Year 12 graduates, with apparent retention to Year 12 rising from 46.5% in 2008 to 59.8% in 2016 Year 12 student Danella Mene, 17, from St Paul’s, Moa Island in the Torres Strait says her journey to Brisbane’s Clayfield College has been challenging but ultimately rewarding. This year more than 90 Indigenous students will complete Year 12 at leading Australian schools on AIEF Scholarships. AIEF – the Australian Indigenous Education Foundation – has been opening doors to schools and universities and supporting Indigenous students to transition from study to careers through its scholarship program since 2008, when it was founded by former AustCham General Manager Michelle Penfold (Gray) and her husband former finance lawyer and investment banker Andrew. Andrew learnt that his skills in law and finance could be used to make a difference in people’s lives after setting up, with others, the Hong Kong Bali Rugby Fund. The Fund ultimately raised more than HK$12M to support the widows and orphans of his team mates killed in the bombing of the Sari Club in 2002. Before returning to Australia in 2004 Michelle and Andrew met with one school in Sydney which had started enrolling Indigenous boys as boarders and offered to raise several million dollars so the program could continue to grow and serve as an example to other schools. The A$7M St Joseph’s College Indigenous Fund currently helps to support up to 40 Indigenous boys in perpetuity at the school. The success of the fund inspired Michelle and Andrew to scale it to work with schools around Australia and they established AIEF, awarding the first scholarship in 2008. The program currently
Despite bouts of homesickness she says the opportunity to attend boarding school allowed her to perform to her full
AIEF is very grateful to the Australian Chamber of Commerce Hong Kong and Macau for their support of AIEF, selecting us as their CSR Partner in their 30th anniversary year. However, our funding is fully committed to support current students through to completion and we need new investment to meet community demand for AIEF Scholarships and empower still more young Indigenous Australians to shape Australia’s future.
potential, “Shaping me into the independent woman I have become, and providing me with countless opportunities.”
If you would like to learn more making a donation to AIEF that will help fund opportunities for students like Danella and Melekai, you can visit our website: https://donations.aief.com.au/ or please get in touch email@example.com or firstname.lastname@example.org
Melekai Williams, 16, from Mossman, north of Cairns, says his family inspired him to apply for a scholarship to complete his senior years at Ipswich Grammar School, becoming the first person in his family to finish Year 12.
Published By: The Australian Chamber of Commerce in Hong Kong and Macau Room 301-302, 3/F, Lucky Building 39 Wellington Street, Central, Hong Kong Tel: +852 2522 5054 Email: email@example.com
“For me, family is what motivates me every day to get up in the morning. As the eldest of four siblings, I felt a responsibility to get a good education and to be a positive role model for them.”
Editorial Committee: Jacinta Reddan Karen Wu Damon Mclellan
Melekai says that despite the ups and downs, the other boys in the boarding house have become like brothers. “There’s one thing that no one will understand, that’s our brotherhood and how much we would do for each other as a community.” After school, Danella plans to study a Bachelor of Nursing. “Growing up as little girl, sitting in the health centre and watching my Aka (grandmother) take care of the people in a community which she wasn’t from, really touched me. I wanted to be just like her, a strong, wise and honest woman. Coming to boarding school, I realised in my heart that nursing is my true calling.” Melekai wants to study to become a physiotherapist or a PE teacher and one day work in his home community and while boarding school has helped him fix on this goal, he says the experience has had a much greater value. “I’m mostly grateful for this opportunity because it has made me the person I am today, and without those opportunities I wouldn’t know who I’d be right now.” 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.
Advertising: Karen Wu, Email: firstname.lastname@example.org
CO N N EC T • E N G A G E • R E P R E S E N T The Australian Chamber of Commerce in Hong Kong and Macau has more than 1,500 members from some 500 companies doing business here. It’s the largest Australian business grouping outside the country and the second largest of 28 International Chambers of Commerce in Hong Kong. The AustCham mission is: To promote & represent Australian business & values while enabling members to connect, engage & grow bilateral relationships. Disclaimer: The views expressed in this publication are not necessarily those of the Australian Chamber of Commerce in Hong Kong and Macau, its members or officers. The Australian Chamber of Commerce in Hong Kong and Macau takes no responsibility for the contents of any article or advertisement, makes no representation as to its accuracy or completeness, and expressly disclaims and liability for any loss however arising from or in reliance upon the whole or any part of this publication.
Copyright © 2017 The Australian Chamber of Commerce in Hong Kong and Macau
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AustCham Corporate Member Index St. James's Place Wealth Management
Colliers International (HK) Ltd Conrad Hong Kong
Macquarie Graduate School of Management
ABC International Australia Plus TV
TMF Hong Kong Ltd
Cook Asia Ltd
Australia & New Zealand Banking Group Ltd
Vistra Hong Kong
Cordis Hong Kong, at Langham Place
Madison Pacific Trust Ltd
Creata (HK) Limited
Mount Kelly School Hong Kong
Crown Worldwide (Hong Kong) Limited
Muskoka Farms Pty Ltd
Cheung Kong Infrastructure Holdings Ltd CLP Holdings Limited Commonwealth Bank Of Australia CPA Australia KPMG
Macquarie Group Ltd National Australia Bank Ltd Westpac Banking Corporation Telstra
Corporate Member 121 Group A. S. Watson Group Advisian Limited Aesop Hong Kong Limited Allen & Overy Alliance Construction Materials Ltd ANL Singapore Pte Ltd ANX International ARCADIS Argonaut Securities (Asia) Limited Art-Lease
Aconex Hong Kong
Artlink Design Associates Ltd
ASF Group Ltd
Asia Pacific RT (Hong Kong) Ltd
Australian International School Hong Kong
Aurecon Hong Kong
Australian Premium Wines
Australian Institute of Company Directors
Moore Stephens CPA Limited
Nowaday International Development Ltd
Farmer's Kitchen Limited
Financial Partners Ltd
Galaxy Entertainment Group
OzForex (HK) Limited
PCCW Global Ltd
Grand Hyatt Hong Kong
Peoplebank Hong Kong Limited
Griffith University Hays
Philippa Huckle Wealth Management
Herbert Smith Freehills
Hong Kong And Shanghai Hotels, Ltd
Primasia Corporate Services Ltd
Prime Time Training
Pymble Ladies' College
IDP Education Limited
Qantas Airways Ltd
Queensland Government Trade & Investment Office Hong Kong
Australian Vintage Ltd
Bain & Company (Hong Kong)
International Alumni Job Network
Baker Tilly Hong Kong
International Cosmetic Suppliers Ltd
BALtrans International Moving Limited
Invest Hong Kong
Island Shangri-La Hong Kong
Benny Lau Jewellery
Benoy Limited Brisbane Marketing
Kwong Tai Hong Sealand Products Co Ltd
Langton's East Asia
Sheraton Grand Macao Hotel
Chandler Macleod Group (Hong Kong) Ltd
Latham & Watkins
Shirlaws Group Limited
Law in Order (Hong Kong) Ltd
Mayer Brown JSM
SMATS (Specialist Mortgage Australasian Taxation Services)
Meinhardt Consulting Engineers
Chartered Accountants Australia and New Zealand
LF Asia (Hong Kong) Ltd Linklaters
Philip Morris Asia Limited
Chubb Insurance Hong Kong Limited
CITIC Telecom International CPC Ltd
QBE Insurance Hong Kong
CK Hutchison Holdings Limited
Santa Fe Relocation Services
Australian Trade and Investment Commission (Austrade) Hong Kong And Macau Baker McKenzie Berwin Leighton Paisner (HK) LLP Bright Food Asia Ltd Cathay Pacific Airways Ltd EY Flight Centre Hong Kong Gallery Group King & Wood Mallesons
MinterEllison Ord Minnett
LF Beauty Lipman Karas Little Creatures Brewery LOD
AustCham Platinum Patrons
R-Co Brand Design Limited Robert Walters (HK) Ltd Robinson Management Ltd Sanguine Capital Advisory Limited Savills (Hong Kong) Ltd Scientific Games Serco Group (HK) Limited Servcorp Hong Kong Ltd
SMS Management & Technology Asia Pty Ltd Sovereign Trust (Hong Kong) Ltd Sunshine Coast Council Tennis Australia Limited The Cityview The Fred Hollows Foundation
The Hong Kong Polytechnic University
ClasG HK Limited
Kao Lee & Yip
The Bank of East Asia
Kedington Wines (Far East) Co Ltd
The Human Factor Ltd
The Hong Kong Trust Company Limited
Continental Engineering Corporation
KK Cho & Co
Thomson Reuters Hong Kong Ltd
Lee People Asia
The Institute of Certified Management Accountants (Hong Kong Branch)
Cornerstone Strategic Partners Limited
Lime Content Studios Ltd
Thyssenkrupp Elevator AG Asia Pacific Office
Laservision Mega - Media Limited
Crossings Executive Search
Macquarie Infrastructure and Real Assets (Hong Kong) Limited
Currie & Brown
Treasury Wine Estates
Maples & Calder
Tricor Services Ltd
D.E. Shaw & Co (Asia Pacific) Limited
Marco Polo Hotels-Hong Kong
TYW Enterprises Limited
UNSW Business School
Davis Polk & Wardwell LLP
Deloitte Touche Tohmatsu
Victorian Government Business Office (Hong Kong)
Department of Justice, HKSAR Dining Concepts Ltd
W Hong Kong
Michael Page International Hong Kong
Dr Michael Tsui, Specialist In Orthodontics
Mvision Strategic (Asia) Limited
WeMedia Shopping Network Technology Co. Ltd
White & Case LLP
Eastern Worldwide Co. Ltd
Willis Towers Watson
Elegant Fortune Ltd
Withers Witt/Kieffer Ccentric
Elite Representation Asia Pacific Pty Ltd
Woods Bagot Asia Ltd
WT Partnership (HK) Ltd
English Business Writing International
Yew Chung International School
Individual Member Abercromby's Real Estate Acorus Capital Aegon Asia B.V. AIA International Limited Akin Gump Strauss Hauer & Feld LLP Allegis Group Altus Group (Hong Kong) Limited American Century Investment Management (Asia Pacific) Ltd Art Futures Group Co. Ltd As - S International Limited Asian Bond Asian Property Investments Limited Aspect Skincare International Associates in Leadership Development Limited Assure Company Limited Azabu Management Services Ltd Barclays Barry. Nilsson. BG Business Communications Ltd Bird & Bird Brandwerk Limited Bupa (Asia) Limited CAPITOL Productions Pty Ltd Central Health Medical Practice Certainty Compliance Pty Ltd Chicken On The Run
Erste Group Bank AG Hong Kong Branch
Matilda International Hospital Matilda International Hostpital Merx Group MGM Macau
New Haven (HK) Ltd Next Chapter Nomura North Star Consulting Limited OfficeAsia TCN Worldwide Oldham, Li & Nie Solicitors Outpac Designs Ltd Pacific Medical Systems Ltd Pamfleet (HK) Limited
Expat Advisors Community
Paul W Tse Solicitors Agents For Trade Marks & Patents
Freshfields Bruckhaus Deringer
PBCS Introducing SnagR
Frites Management Limited
Peak Investment Partners Pty Ltd
PineBridge Investments Asia Limited
Global Manage Limited Hayco Manufacturing Ltd Heitman LLC Henderson Land Development Company Ltd
pmdl Architecture & Design HK Ltd PricewaterhouseCoopers
Hill Dickinson Hong Kong
PVH Far East Ltd
Holistic Business Consulting Pty Ltd
Raine & Horne Rural Sydney
Hong Kong Rugby Union
Hong Kong Sanatorium & Hospital
Regal Hotels International Holdings Ltd
Investors Exchange Ltd InXpress Hong Kong IPI Consulting Group Limited Isola Capital Limited iWorkshop James Bennett Pty Ltd Jervisbay Barbecue Limited Jetway Express Ltd
Vega Velocity Technology Limited Vialux (Macau) Limited Village Holdings Insurance Brokers Ltd Wavelength Consulting Western Union Financial Services (HK) Limited Wooloomooloo Group Zenith Interiors Zentor Hk Ltd Zhonghe Recruitment Limited Ms Anne Davis Mr Dan Ternes Mr Donald Hess Mr Edward Gumbley Mr Gursharan Sethi Mr Hugh Kerridge Mr Ian Thomson Mr Peter Sprogis Ms Madeleine Price Mr Martin Darveniza Mr Matty Kwong Australia Indigenous Education Foundation
Prudential Corporate Asia
Inter Retired Ltd
Vanguard Logistics Services (Hong Kong) Limited
Ms Stefanie Myers
Hill & Knowlton Strategies
Insite Solutions Limited
PLC Venture Capital
Projection (HK) Ltd
Hongkong Land Limited
Total Loyalty Company Ltd
HFS Asset Management Ltd
Hong Kong Skycity Marriott Hotel
The Three Marketeers
Blue Moon Hong Kong Economic And Trade Office, Sydney, The Gov'T Of The HKSAR Hong Kong Trade Development Council Hong Kong-Australia Business Association Ltd
Life Honorary Member
Ronald Lu & Partners
Mr Alan Johnson
Shenton Limited - Insurance Broker Lic No. Piba -0341
Mr David Shannon
Sino City Asia Ltd Sino Land Company Ltd Spinifex Group Squire Patton Boggs
Energy Technologies Limited Mr Matthew Cheng
Stan Group (Holdings) Limited
Steelcase Hong Kong Ltd
Community Business Limited
T O Yip & Co Limited
SENsational Consultancy Ltd
The Hub Children & Youth Centre Ltd
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