The Australian Chamber of Commerce Hong Kong and Macau
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austcham news • Issue 197 | Feb 2018 12 Hong Kong Central Harbourfront: Iconic Global Site 14 Connecting Hong Kong: KPMG 16 Australia Day Lunch 2018 in images 20 Commonwealth Games Comes to the Gold Coast
Australian Minister for Revenue and Financial Services Kelly O’Dwyer in Hong Kong – P.10
Celebrating What It Means to be an Australian with Stan Grant 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
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s we celebrate the new Lunar year, it is worthwhile pausing to reflect on an Australian milestone – our annual Australia Day event which was marked by a powerful speech by broadcaster, author and indigenous Australian, Stan Grant. Stan shared his inspirational story of identity and nationhood – and also reflected on his time in Hong Kong and Beijing which, when living abroad, was when he really came to understand what it means to be Australian. You can read more of Stan’s personal story and his passionate call to come together as a community rather than to allow history to divide us in the cover feature. I would like to extend a big thank you to all of you who joined us at this very special event. We are grateful to our event sponsor National Australia Bank for their sixteen years of support, together with other supporting partners, sponsors, Platinum Patrons and members for their unfailing support of this event. To all of those who took corporate tables, we also say thank you as well as to the vocal ensemble from the Australian International School. As you may know, we have recently established the Greater Bay Committee in partnership with AustCham South China. We are delighted to announce that this committee has held its first committee meeting under the chairmanship of Andrew Whitford and vice-chair Nick Wilshire. This collaboration will help foster a stronger relationship between the two chambers and, ultimately, between our membership. The Greater Bay Area (GBA) of nine PRC cities plus Hong Kong and Macau, with a collective GDP equivalent to that of Australia, is expected to be a key focus in coming years. The committee aims to educate and inform our members about the Greater Bay opportunity as well as to advocate on your behalf. AustCham is well-positioned for our members to use Hong Kong as a gateway to investigate the GBA opportunity, to bring meaningful trade and investment, as well as to strengthen commercial and people ties between the jurisdictions. Event planning is underway and you can look forward to further announcements about a variety of ways we intend to make this happen. The Year of the Dog symbolises loyalty, honesty and a sense of responsibility these are attributes all of us seek to bring to life in our businesses. On behalf of AustCham, I would like to extend my best wishes to you, our members and your families a Happy Lunar New Year! QantasYours C sleepsincerely, banner ad 195x55mm hires.pdf 1 4/8/2017 15:10:04
Andrew Macintosh email@example.com
Chairman's Column austcham news issue 197
Cover Story Australia Day with Stan Grant
Australia Focus Australia’s Financial Services 10 Minister Speaks at Asian Financial Forum
Hong Kong Focus Central Harbourfront – an Iconic Global Site
Industry Insights Connecting Hong Kong: More to Do 14
Australia Day Lunch 2018 in images 16 Making An Impact
Commonwealth Games Where Business Meets Sports
Australian in Finance
Committees in Action
Feature Hong Kong and Australia Join Forces 26 to Secure Trade
Spotlight Australia Delegation to the Asian Financial Forum (AFF)
On the Scene
austcham news Online version
ustCham’s strengths lie in bringing people together, creating business opportunities and forging connections. But we also are an important voice for the business community – and not just in Australia. Here, in Hong Kong, we also seek to contribute our voice on issues which make this city a liveable, enjoyable and vibrant place for our staff, for our businesses and for our families. This is particularly so when we can also draw from Australia’s best practice to help shape a better Hong Kong for tomorrow. Our Construction, Property and Infrastructure Committee (CPI) is leading our campaign urging the Hong Kong Government to make the most of an extraordinary piece of land right in the heart of Central. This area (Central Site 3), stretches from the Cental GPO down to the Star Ferry. We recently partnered with BritCham to host a panel of Hong Kong and international experts (including our own member, Benoy) who agreed that this site warranted special treatment by the Hong Kong Government because of its global significance (read more on p.12). Drawing on our world-renowned demonstrated abilty to design harbourfront spaces that are vibrant, liveable and iconic urban areas, AustCham is right behind this campaign. Not only can our expert members contribute to a thoughtful exploration of the site’s potential, but the right combination of process and policy combined with that master would ensure this site does not become just another retail and office complex – instead, this could become a location that becomes a people-centred place and a new destination for Hong Kong. We urge you to write to the Hong Kong Administration highlighting the importance of the site, and #Hkglobalsite3 as part of your social media campaign. The 2018 Westpac Australia China Business Awards (p.28) are underway and offer an extraordinary opportunity for you to be recognised for your success in Greater China. As a member of the judging panel, I encourage all of you to consider nominating. The award nomination process is rigourous, so as a judge I cannot encourage individual nominations. Nomination is simple (http://www.austcham-acba.com/why-nominate) – please be sure to do so by 25 February and make your mark on what is the 25th anniversary of the awards which began in Hong Kong. Winners will be announced at a gala event in Shanghai in May. And I look forward to celebrating International Women’s Day with many of you on March 1 when we gather for our annual Great Debate. See you then. Jacinta Reddan, Chief Executive, AustCham
EVENTS UPDATE FEBRUARY 2018 AT A GLANCE… Tue, 27 February, 6:15pm – 8:30pm AustCham Technology and Business Program - Series II S7: Connecting Commerce – How does your city shape your organisation’s digital transformation? Innovation Lab, Commonwealth Bank of Australia, 13/F, One Exchange Square, 8 Connaught Place, Central, Hong Kong
MARCH 2018 AT A GLANCE… Thur, 1 March, 6:30pm – 9:00pm The Great Debate: Women are not promoted on merit ANZ, 22/F, Three Exchange Square, 8 Connaught Place, Central Thur, 8 March, 12:00nn – 2:00pm New Member Orientation Boardroom, KPMG, 8/F, Prince’s Building, 10 Chater Road, Central Mon, 19 March, 12:00nn – 2:00pm The Final Years of Schooling: What the finest Sydney boarding schools can offer *Independent Event Delivered Through AustCham's Event Management Service Library, Mezzanine Floor, Grand Hyatt Hong Kong, 1 Harbour Road, Wanchai Thur, 22 March, 6:00pm – 9:00pm Mix at Six Wagyu, G/F Centrium Building, 60 Wyndham Street, Central Mon, 26 March, 12:30pm – 2:00pm Stop Fixing Women: Why building fairer workplaces is everyone's business Townhall, Thomson Reuters, 18/F ICBC Tower, 3 Garden Road, Central Wed, 28 March, 11:50am – 2:00pm Joint Business Community Luncheon with The Honourable Paul MP Chan, Financial Secretary of HKSAR Convention Hall, Hong Kong Convention and Exhibition Centre, 1 Harbour Road, Wan Chai
APRIL 2018 AT A GLANCE… Wed, 4 April, 6:30pm until late AustCham Rugby Sevens Cocktail Mr. Wolf, 5/F, 70 Queens Road, Central
A Letter from Canberra I write this on the eve of the first day of the 2018 Parliamentary sitting year. It’s a day spent kick starting committee work, Question Time, debating legislation and catching up with colleagues after the summer recess. And it’s a day spent honouring those Australians who made the ultimate sacrifice for our nation at the Australian War Memorial’s Last Post Ceremony. The design of our nation’s capital mean parliamentarians and public servants are constantly mindful of those who have served and fallen for the freedoms we enjoy today. New Parliament House and Old Parliament House both face the Australian War Memorial beyond the stretch of Anzac Parade. At the Last Post Ceremony the Prime Minister, Opposition Leader, Service Chiefs and parliamentarians gathered with Australians and visitors from all around the world to pause to reflect and remember. The ceremony begins with the Australian national anthem followed by the piper's lament. Wreaths and floral tributes are then laid beside the Pool of Reflection. An individual's story is told, and the Ode is recited by an Australian Defence Force member. The ceremony ends with the sounding of the Last Post an is held 364 days of the year. Each day the story is told of one of the more than 102,000 Australians on the Roll of Honour. As a terrible testament to the toll of conflict, it will take nearly 300 years to commemorate every person on the Roll of Honour. The Australian Memorial is committed to ensuring that each story will be told. This year we will honour Corporal John Arthur Metson, a 24 year old from Melbourne who was killed in action in Papua New Guinea during World War II and is laid to rest at Port Moresby (Bomana) War Cemetery. The Last Post Ceremony is a sombre and moving reminder – at the beginning of the parliamentary sitting year – of the responsibility and duty of our role as decision makers for the nation and the future of Australians.
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: firstname.lastname@example.org Editorial Committee: Jacinta Reddan Karen Wu Advertising: Karen Wu Email: email@example.com
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.
Lest We Forget Gai Brodtmann MP, Federal Member for Canberra and Shadow Assistant Minister for Cyber Security and Defence
AustCham Platinum Patrons
Copyright © 2017 The Australian Chamber of Commerce in Hong Kong and Macau
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Celebrating What It Means to be Australian with Stan Grant - Ingrid Piper Interview: Stan Grant, ABC Presenter, author, social commentator and author
f there is one role that outspoken Australian journalist, author and social commentator Stan Grant is unlikely to move to next, it’s politics. It is, he believes, a hard act, best left to politicians who know how to play the game.
“I like the freedom to tell stories, to connect people, to make sense of the world. We need people who can find common ground and not drive us to the fringes, other people do that better than I can,” said Stan Grant, the ABCs Chief Asia Correspondent and presenter of its new evening talkshow Matter of Fact, who recently visited Hong Kong as guest speaker at AustCham Hong Kong and Macau’s 2018 Australia Day Lunch. After years as a foreign correspondent and having covered world news in more than 70 countries including China, Grant says returning to Hong Kong felt like a homecoming. Reminiscing that one of the things he missed most about his time in Hong Kong was the unique ability of local taxi drivers to apply brakes and accelerator at the same time, certainly raised a few chuckles from the audience. But for those attending our official national day celebrations on January 26, his heartfelt speech, touching on national identity and Australia’s unique place in the world, held a very personal message of resonance and February 2018
reflection as to why many of us has journeyed far from home, family and friends. “For us, engaging with the world requires effort and initiative. Australians overseas have decided to reach out and make that change,” said Grant. On such an important day for Australian business, Grant chose to consider our nation’s place in the world, including its relationship with China. Australia and China Grant predicts the challenge ahead for Australians continues to be how we balance our growing relationship with China with our long-standing attachment to the US. It is, he feels, a delicate balance and one where even the US treads warily. In his interview with the former US Secretary of State Hillary Clinton, she answered his question with a blunt “It’s hard to say no to your banker.”
“China is remaking our world. For a country like Australia, it asks really hard questions. It’s our greatest trading partner but the US is still our most important strategic relationship,” says Grant. He predicts China’s future will depend on how it deals with massive social change within its borders, which he sees as putting great strain on the ability of the Communist Party of China to be able to hold on to its one party rule. “It’s a high wire act and history tells us this can’t be done. We’ve seen other empires fall apart, not externally, but internally, and these are challenges China is now facing,” he says. As we inevitably move towards a post American world order, he sees Australia’s relationship with China becoming increasingly personal. But he’s confident we’re also capable of independent action, such as becoming a founding member of the Asian Infrastructure Investment Bank, headquartered in Beijing. “A pessimist would say we are heading toward conflict,” Grant says, adding this is not necessarily the only scenario since China has already shown a willingness to be a good global citizen by its preparedness to abide by, and sign up to international laws; in its role as one of five permanent members of the United Nations Security Council, and its membership of the World Trade Organisation. A unique identity For Grant, the unique Australian identity our nation celebrates on January 26 is the result of geographical isolation from the rest of the world.
We are the Australians who’ve gone out into the world to explore things. I think it’s a product of our isolation. “There’s only one way to go. We notice ourselves a lot more because we come from a long way away. If you’re European, or African or from Central America or Asia, you’re constantly engaged with other people, you’re moving all the time, it’s second nature. We are the Australians who’ve gone out into the world to explore things. I think it’s a product of our isolation.” As an Indigenous Australian, Grant said he probably didn’t appreciate what it was to feel Australian, until he left to work overseas.
“Growing up as an Aboriginal person, you’re on the fringes, you’re on the margins of Australia. There’s a historical divide between us, and we’re reminded of that on Australia Day. It wasn’t until I went overseas and looked back on my country that I realised there are things about me that are uniquely Australian, formed out of that experience. When I meet another Australian, there is a spark of recognition, we get the joke, we understand each other.” Covering international conflicts for 30 years has helped shape Grant’s ideas about the importance of heritage, and inevitably drawn him in to the ongoing debate about celebrating Australia Day. “There’s more to being an Australian than the division of our history,” he admits bluntly. Heritage and a history “I’ve lived in places in the world where history really hangs heavily. History is at the heart of every conflict, whether that’s Sunni versus Shia, Hindu versus Muslim, North Korea versus South Korea or China and the constant reminder of the 100 years of humiliation by foreign powers, or even in the America’s south where they’re still fighting the battles of the Civil War. “Australia is paradox, on one hand it has its own fraught history which we’ve tended to deny or silence and at the same time, it’s the place where people have come to escape history. “We’re the people who were shipped out in chains in convict ships, we’re the 10 pound Poms, we’re the Boat People, we’re the Southern European migrants who came post World War II and worked on the Snowy Mountains scheme. These people all moved from something, from war, from economic strife or revolution and Australia was a place where history didn’t hang so heavily. So for many Australians, identity formed out of history is not so important. Except, if you are Aboriginal whose identity is rooted in history and that’s the paradox, and that’s the point of conflict between the two,” he says. Grant sees himself as sharing two cultures; one inherited via his convict ancestor John Grant, an Irish rebel who fought against the British, and whose siblings and mother were hanged by them. Another is his indigenous heritage, as a member of the Wiradjuri people, whose traditional lands include large sections of central New South Wales. cont P.8
“For us, engaging with the world requires effort and initiative. Australians overseas have decided to reach out and make that change,” “I have no desire to be bound by a history of misery, even less to revel in it.” 8
“Do we want a better country or do we want to protest just because we are angry?” “China is remaking our world. For a country like Australia it asks really hard questions. China is our greatest trading partner but the US is still our most important strategic relationship.”
cont from P.7
He sees this mixture of heritages as something to be acknowledged and worn proudly, without the burden of historical bitterness. “I have no desire to be bound to a history of misery, even less to revel in it,” he says of his background and early years, which he admits, included barely going to school until he was in his teens. “Sometimes we put too much emphasis on healing the rift and bridging the gap. Sometimes the key to being in a civilised society, the key to democracy actually, is that you can live with difference and disagreement and not resort to hatred and violence. Do we want a better country or do we want to protest just because we are angry?
We can live together with that historical legacy, it doesn’t have to separate us. “Every time we go to an election, half the population doesn’t get the government they voted for, but we don’t tear the country apart. We accept that our democracy is strong February 2018
enough to hold our difference and our disagreement. And I think the same thing applies to the Aboriginal question. We can live together with that historical legacy, it doesn’t have to separate us. “What worries me is the politics of identity has really hardened division around the world. It’s a post cold war phenomenon linked to the resurgence of tribalism, ideology and populism that also manifests in the hardening of anger around the symbolism of Australia Day.” Making a difference While Grant is conciliatory about his heritage, he is outspoken about the Australian government’s continuing failure to improve the lives of indigenous Australians. Despite Prime Minister Kevin Rudd’s formal apology to Australia’s indigenous people in 2008, he says successive governments have failed our most vulnerable Australians. “In the past decade we’ve seen the number of Aboriginal children being taking into care increase 100 per cent for reasons such as poverty and neglect. Clearly something is wrong with the Closing the Gap policy.”
National Australia Bank once again sponsored this year’s successful Australia Day celebration, it’s 16th year of continuous support for this important annual event. AustCham Chief Executive Jacinta Reddan also used the occasion to welcome on board a new CSR partner, the Australian Indigenous Education Foundation on board, of which Stan Grant is an ambassador.
For Grant, the real story is what indigenous people like himself are achieving in spite of government policies, of Australia’s rising middle class with an indigenous heritage, of children who, in spite of their disadvantaged backgrounds, have gone on to have successful careers and professional lives and who, in their own right, are closing that divide.
It’s not my flag, or your flag, it’s our flag,
“Australia has changed so much. In my childhood there was no Australian flag and we stood for God Save the Queen. Before any public event now we welcome people to the country and that’s important. Now we need to get a step further. It’s not my flag, or your flag, it’s our flag,” Grant says
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What Does 2018 Hold? - Australian Minister for Revenue and Financial Services Kelly Oâ€™Dwyer speaks at the Asian Financial Forum
ustraliaâ€™s economy has completed its 26th consecutive year of economic growth, where real GDP is 10.5 per cent larger since the Government was elected in 2013. The trajectory from here is further growth, with momentum picking up. We expect to see continued strength in employment with, on average, more than a thousand jobs created in the Australian economy per day in the past year. In fact,
the more than 400,000 jobs created in the 12 months to December is the strongest result in Australian job creation since 2005. Like many advanced economies, Australia has experienced slower wages growth in recent times, however, the outlook is positive. Wages growth is forecast to increase as companies continue to invest, inflation increases, and some of the slack is removed from the labour market.
Australians have long seen Hong Kong as a window to a world of opportunity. More than 600 Australian businesses have set up base in Hong Kong and I recently had the pleasure of meeting AustCham members who are making their mark. It was an opportunity to deliver news from home on the strengthening Australian economy and provide an update on the Governmentâ€™s sustained efforts to create jobs and drive growth.
Looking further afield, Australia’s exposure to Asia means our economy will continue to be supported by strong growth in exports. As Australia’s largest trading partner and the world’s second-largest economy, China’s expansion will support Australia’s economic growth. On the domestic front, the mid-year economic and fiscal outlook confirms our plan to return the budget to balance. It was the Government’s fifth consecutive budget update projecting a return to balance in 2020-21.
Australia’s recent economic record is no accident — as well as prudent fiscal management it’s the result of an economic plan that fosters an open and flexible economy. We’ve implemented or announced extensive reform across a range of areas including the National Energy Guarantee which will support investment in the electricity sector to drive down emissions and maintain reliability. We’re supporting growth through trade liberalisation and now have trade agreements in place with Japan, Korea, and China, and several other negotiations underway, including with Hong Kong. Specifically, we are expanding the trade in financial services across Asia through the introduction of the Asia Region Funds Passport. The Passport will allow fund managers to offer their services in any of the participant economies, without being required to comply with two different sets of regulation. We are now in the final stage of implementing the Passport and look forward to working with current and potential Passport participants to implement and grow the Passport initiative this year and beyond.
Australia has one of the strongest and most stable banking, superannuation and financial services industries in the world. The highest standards of conduct are critical to the good governance and corporate culture of financial service providers. In the past year, we’ve moved to establish a new one-stop shop to resolve customer complaints; bolster the Australian Securities and Investments Commission’s powers and resources; create a framework to hold banking executives accountable; and acted to boost banking and financial services competition. Late last year, the Government established a Royal Commission into the alleged misconduct of Australia’s banks, superannuation and other financial services following ongoing speculation about an inquiry which risked undermining the reputation of Australia’s world-class financial system.
Importantly, the Government has delivered tax cuts to most businesses up to annual turnover of $50 million. This has benefitted around 3.2 million small and medium Australian businesses, employing over 6.7 million workers.
The Royal Commission will examine allegations of conduct that falls below community expectations. It will ensure that Australia’s financial system continues to work efficiently, effectively and in the interests of consumers.
In the year ahead, we’re looking to extend tax cuts to all companies. Reducing the company tax rate to 25 per cent will encourage investment, deliver long-term improvements in productivity and ensure Australia remains competitive on the international stage.
I wish you every success for the year ahead, I look forward to hearing more stories about Australians making it big in one of the biggest financial hubs in the world.
Separately, we’re working to further ease the tax burden on middle-income Australians. We will do so in a prudent, responsible manner.
The Minister’s address at Asian Financial Forum on 15 January 2018.
Hong Kong Focus
Hong Kong: Central Harbourfront – an Iconic Global Site
- View from Jardine House: venue for InterCham event.
ith an iconic harbourfront site in Central about to go to tender, AustCham is urging the Hong Kong Government not to waste this once-in-an-lifetime opportunity.
With an iconic harbourfront site in Central about to go to tender, AustCham is urging the Hong Kong Government not to waste this once-in-an-lifetime opportunity. Together with the BritCham, AmCham and members of Hong Kong’s design and construction sector, the chamber is calling on Chief Executive Carrie Lam not to award the tender based solely on price and instead to consider the potential for the site to contribute to Hong Kong position as Asia’s World City. The Central Harbourfront Site 3 stretches from the Central Post Office to the Star Ferry. “This is a globally significant site which requires a much broader and more integrated approach,” said AustCham Chief Executive Jacinta Reddan.
AustCham Construction, Property and Infrastructure Committee Vice-Chair Michael Camerlengo and member Paul Hart from Knight Frank discuss possibilities for this iconic site.
13 Sustainability Committee Vice-Chair Helen Cochrane (left) with guests.
Simon Bee (2nd from right) of Benoy speaking on the panel.
“This is an opportunity to turn this iconic location into a focal point for Hong Kong people, to create a sense of community, incorporating leisure and recreation elements drawing upon world-class examples such as Sydney’s Barangaroo.” AustCham’s Construction, Property, Infrastructure committee is spearheading this campaign. Consideration of the long-term objectives for the site “requires deep thought, analysis and careful consideration,” the committee said. The AustCham submission encourages the Hong Kong Government to work with the private sector to develop a “fully-formed vision and set of objectives for site 3”. The Australian Chamber of Commerce in Hong Kong is committed to the successful planning, development and delivery of Site 3. We welcome your feedback on the views shared in this correspondence and an opportunity to discuss them in more detail. We look forward to hearing from you and the prospect of assisting Government with this landmark
Photo credits: The British Chamber of Commerce in Hong Kong
development opportunity, for the long term benefit of the people of Hong Kong. If you would like to join the call for better outcomes for this picture postcard site, please join the discussion through social media (#HKglobalsite3), look out for future events and register your interest to participate via our CPI committee (email@example.com).
Connecting Hong Kong: More to Do
ong Kong needs to continue to drive a technology and innovation culture in order to compete with other smart cities, according to a new survey by AustCham Platinum Patron KPMG.
The report, titled Connecting Hong Kong – Perspectives on our future as a smart city, is published in association with CLP Holdings, JOS, Siemens and the Smart City Consortium. It features findings from a survey, conducted by YouGov, of more than 500 business executives and 1,000 citizens in Hong Kong on their perceptions of its smart city strengths and weaknesses. Nearly all business executives indicated technology and innovation culture, together with ‘education’ and ‘talent’, are critical for Hong Kong to remain successful, the survey finds. However, 73 percent of executives and 45 percent
of citizens are of the view that Hong Kong falls behind other developed cities in terms of fostering a technology and innovation culture, while around a quarter indicated that Hong Kong is leading in education and talent. The desire to improve Hong Kong’s technology and innovation culture and its overall liveability are linked to the survey respondents’ views on the key qualities of a smart city – ‘digitalised, well-connected public services’ and ‘advanced technology’ are among the top three characteristics identified by respondents. They also ranked ‘healthcare’, ‘education’ and the ‘living environment’ as their top three keys to success.
“This indicates a need for a future population equipped with the right skills and innovative drive to meet the needs of an increasingly complex, fast-changing environment,” says Julian Vella, ASPAC Regional Head – Global Infrastructure Advisory, KPMG China. “In order to develop Hong Kong as a real smart city, it is necessary to create an innovative and technology-focused environment supported by the education system, which should also encourage more students to pursue science, technology, engineering and mathematics programmes.” This is reflected in the findings, as 83 percent of business executives indicated that ‘encouraging creativity in the education system’ is crucial to accelerate the development of research/education. Additionally, two-thirds of citizens and three-quarters of executives see ‘engineering & applied science’ as key disciplines. In terms of advantages, the survey notes that more than four-in-five surveyed executives and 60 percent of citizens view Hong Kong’s connectivity with mainland China and its transportation system as outperforming other developed cities. Meanwhile, 65 percent of executives and 54 percent of citizen respondents highlighted Hong Kong’s strengths as a financial services centre. A majority (80 percent) of surveyed executives rate the Greater Bay Area initiative as important for Hong Kong’s future prosperity, while 74 percent of them are of the same view in terms of its connectivity to ASEAN and the Belt and Road Initiative. Meanwhile, citizen respondents indicated ties with ASEAN to be most important (by 61 percent), followed by the Belt and Road Initiative (55 percent), and the Greater Bay Area (49 percent). “The key to being a smart city is connectivity – not just locally, but globally, so we can bring ideas from outside to Hong Kong and share those from Hong Kong with others,” says Eric Yeung, President, Smart City Consortium. “A smart city is one that is able to harness technology to realise greater goals – that of a sustainable city, with enduring economic advantages, and above all, an enhanced quality of life for all its citizens.” Consistent with this, Hong Kong’s Smart City Blueprint, released in December 2017, lays out a number of projects
and strategic initiatives to drive the development – many of which are in line with the views and expectations put forward by the surveyed business executives and citizens in this report. Separately, the private sector has expressed a strong desire to be more involved in Hong Kong’s smart city development – more than four out of five of the surveyed executives indicate that it is likely that their company will contribute. Citizens too share the same sentiment, with a majority expecting private companies to contribute to the city’s development. This echoes the survey findings - a majority of executives (67 percent) say that collaboration between the private and public sectors is needed to better develop Hong Kong’s healthcare system. ‘More use of health-related technology’ and the ‘provision of more elderly-care services’ were identified by over two-thirds of executives as key priorities needed to accelerate Hong Kong’s healthcare development. In terms of energy and resources development, ‘waste treatment’, ‘use of renewable energy’ and ‘energy efficiency’ are top of the agenda for both citizens and executives. The need to ‘invest in energy-efficient technology’ and ‘encourage energy-saving practices’ are of particular importance, as a growing population and the proliferation of technology place increasing demands on Hong Kong’s energy system. Increased connectivity between energy, technology and transportation will be crucial to Hong Kong’s development. Vella concludes: “For a city to be smart, it needs to be conscious of the needs and wishes of its population, the economic interconnectedness of its businesses with surrounding regions, and the potential impact of technological developments. Above all, smart cities are about people. By placing its citizens at the core of decisionmaking, focusing on education and harnessing the city’s talent, Hong Kong can enable its population to innovate, drive growth and improve their quality of life.”
Full report: https://assets.kpmg.com/content/dam/ kpmg/cn/pdf/en/2018/01/connecting-hong-kong.pdf For more details on the Government’s Smart City Blueprint, please visit: https://www.smartcity.gov.hk/
Australia Day Lunch 2018
elighted to have our keynote speaker, one of the most iconic Australian journalist and author Stan Grant joined us in this year’s Australia Day Lunch event in Hong Kong. Stan talks about ‘identity’ and shared what it means to be Australian offshore at the event. His powerful message was heard by close to 300 guests at Island Shangri-La in Hong Kong. Special thanks to National Australia Bank (NAB), this year also marks the 16th year of the bank sponsoring the Chamber’s flagship event in town.
Missed the event? Watch the speech plus Q&A session here:
Australia Day Lunch 2018 The post-event cocktail was held at Lobster Bar on the day.
Event Sponsor: 18
Making an Impact Roundtable discussion with Financial Services Minister
uring her visit to Hong Kong for the Asian Financial Forum, the Minister for Financial Services and Revenue Kelly O’Dwyer MP spoke to AustCham members on Australia’s 26 years of continued economic growth, the ongoing opportunities and engagement with Asia, particularly on innovation (i.e. FinTech and Big Data) and the regional growth story offer. With financial services making up 9% of the economy, Australia’s banks, asset managers and professional services firms have a major role to play in capitalising on this through initiatives such as the Asia Funds Passport, Belt and Road and also the Greater Bay area.
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.
Food & Beverage Dining Concepts: Enjoy 15% off on all a la carte dining. Marco Polo Hotels: 15% off at Cucina, Cafe Marco, Three on Canton and add@Prince Terms and conditions apply.
ard Membership eC
For details please check AustCham website.
Where Business Meets Sports
n April 2018, more than 6600 athletes and team officials from 70 nations and territories will visit Queensland, Australia for the Gold Coast 2018 Commonwealth Games (GC2018).
While 1.5 million spectators will witness the sporting competition live, a global television audience of 1.5 billion people will watch from around the world. With its beautiful sub-tropical climate and proximity to global markets, Queensland offers visitors and investors unique opportunities. As the host of the Commonwealth Games, the Gold Coast in particular has developed into a diverse, cosmopolitan, forward-thinking city with a future full of promise. Situated on the edge of the Asia-Pacific rim with access to two international airports, the Gold Coast is perfectly positioned as a destination for business, investment, study, sport, events, tourism and lifestyle. Major sporting events are increasingly recognised as important catalysts for promoting international trade and investment. During the Glasgow 2014 Commonwealth Games, Scotland House came to life as the central location where sport mixed with business. The initiative aimed to leverage international trade and investment opportunities presented by Scotland hosting the Games and the Scottish Government estimated more than 1000 leading national and international business figures attended Scotland House during the 2014 Games. February 2018
Queensland, through hosting GC2018, anticipates similar success. The Queensland Government in partnership with the City of Gold Coast has developed Trade 2018 as the trade and investment program for GC2018. The program launched in March 2017 and has since been showcased in seven Commonwealth countries in line with the journey of the Queenâ€™s Baton Relay. In each market, Trade 2018 engaged with key government and business leaders, highlighting opportunities and encouraging visitation to Queensland in the lead-up to, during and after the Games. From 3â€“16 April, Trade 2018 will culminate with the comprehensive Games Time Trade and Investment Program on the Gold Coast and in the event cities of Brisbane, Cairns and Townsville. The pinnacle venue will be Commonwealth House, an exclusive venue to establish strong international partnerships, explore investment opportunities and to develop new global value chains across the world. The Program will include tailored forums, high level meetings, site visits, and Commonwealth trade events such as the Global Entrepreneur and Investor Exchange on April 5, Queensland Health Capabilities on April 10, and Health Business Matching Program on April 12.
Key speakers and panellists featured in the Program include RT Hon Patricia Scotland, the Secretary General of the Commonwealth Nations and Steve Baxter, tech start up investor and entrepreneur.
Some highlights that you shouldn’t miss From 4-15 April 2018, the Gold Coast 2018 Commonwealth Games (GC2018) will offer 11 unforgettable days of world class sporting competition in Queensland.
Trade 2018 provides an unprecedented opportunity for Austcham members to connect and do business with Queensland and Australian partners.
Trade 2018 is the extensive Trade and Investment Program being developed to run in the lead-up to and during GC2018.
With a resilient and diverse economy, solid growth forecast, highly skilled workforce and a strategic Asia-Pacific location, the investment opportunities in Queensland are unparalleled.
Led by the Queensland Government in partnership with the City of Gold Coast, the Program is also supported by the Australian Government.
The Gold Coast 2018 Commonwealth Games will be a catalyst for transformative change that will bring economic benefits to Queensland and beyond.
Trade 2018 has led international trade missions to London, Canada, India, Malaysia, Singapore, New Zealand and Papua New Guinea.
Queensland looks forward to doing business with you – now and into the future.
Trade 2018 will host events focused on specific sectoral and investment opportunities; events aimed at key bilateral relationships; and events focussed on supporting broader trade discussions. Investors and buyers who join us in Queensland in April 2018 will experience firsthand the breadth of trade and investment opportunities available. The Program will include tailored forums, targeted business matching, site visits, and Commonwealth trade events such as the Global Entrepreneur and Investor Exchange, Queensland Health Capabilities, and Health Business Matching Program.
Seven key priority sectors have been identified for the Trade 2018 Games Time Trade and Investment Program. These are: • Health and Knowledge • The Business of Sport • Food and Agribusiness • International Education • Innovation and Entrepreneurship • Film and Television • Marine Craftsmanship Key speakers and panellists featured in the Program are RT Hon Patricia Scotland, the Secretary General of the Commonwealth Nations and Steve Baxter, tech start up investor and entrepreneur.
To register your interest in attending the Program, please contact Julie-Anne Nichols Email: TIQ.firstname.lastname@example.org at the Queensland Government office in Hong Kong.
Australians in Finance
AustChamâ€™s Finance, Legal and Tax Committee hosted their annual Australians in Finance cocktail and invited Ben Way, CEO of Macquarie Group Asia to join a fire side chat with members this year. Ben spoke from a macro perspective on doing business in Asia sharing some of his experiences and key insights into the region. Special thanks to event sponsor St. Jamesâ€™s Place for sponsoring a fantastic evening!
AustCham UOW Mentor Programme
Programme Health Check - Carly Chung, Mentor Programme Manager Assistant
rom ambitious young executives, to entrepreneurs, to an array of industry leaders, the current intake of mentors and mentees in the AustCham UOW Mentor Programme is inspiring.
With what started as â€˜Speed Datingâ€™ to match mentors and mentees, strong relationships have been forged inside and outside of the scheduled programme. The Mentor Programme has allowed participants opportunities to network with likeminded professionals, experience personal and professional development, and to discuss opportunities, successes and challenges in the current working climate. Key events in the AustCham UOW Mentor Programme thus far have included: Training Workshop: Mentors and mentees immersed themselves in a professional development workshop conducted by Mentor Programme Manager, Tanya Menzel. At the conclusion of the workshop, participants had an
niversity of Wollongong (UOW) is partnering with City University in Hong Kong to operate the Community College of City University (CCCU)/UOW College Hong Kong. Under the strategic alliance with City University, local graduates could join the top-up programmes offered by UOW in Hong Kong upon their graduation from Associate Degree programmes. And apart from academic studies, students will also have opportunities to gain invaluable exposure from a wide range of study tours and internships overseas. Visit www.cityu.edu.hk/cccu/home.html for details.
increased understanding of character building, improved leadership skills and the tools to positively influence the business and social community of Hong Kong. Diversity and Inclusion Panel: A compelling discussion on a hot topic that is impacting businesses of every size and shape. With experience across a range of industries, the panelists Paul Choi, Julian Groves, Anna Champion and Peter Sargent, championed diversity and inclusion from different angles. Social Events: Informal gatherings are a highlight of the programme, where mentors and mentees have the opportunity to network, pitch business ideas and also participate in dance and improvisation workshops conducted by Joshua Keefe and Kay Ross respectively. Unconscious Bias Workshop: Building on the executive diversity and inclusion panel, the workshop conducted by Karen See, educated participants on what unconscious bias is, why it exists and how it is impacting them in the workplace. The workshop enabled participants to better understand their own bias and improve their own self-awareness.
A Young Executives on Board Panel Discussion and a Sustainability Panel has been scheduled for the remainder of the Programme, with a Graduation and Awards dinner to conclude the series. A special thank you to The University of Wollongong and KPMG who have provided ongoing support throughout the programmeâ€™s entirety.
Committees in Action Marketing and Media Network: The Growth Director’s Secret
ow do consumers make decisions? What’s the myth inside ones’ buying habit? The Marketing and Media Network recently hosted a session on this topic and invited author of ‘The Growth Director’s Secret’, Andy Brent, to share with attendees on what is the growth paradox, why businesses struggle to grow and what can a decision maker do to change it. Special thanks to network sponsors St. Regis Macao and The New York Times, and venue partner Commonwealth Bank of Australia.
Greater Bay Committee
he first Greater Bay Committee meeting was held in late January after the formal launch announcement in October 2017. The committee aims to educate and inform our members about the Greater Bay opportunity as well as to advocate on your behalf. Thank you to the committee chair, Andrew Whitford and vice-chair, Nick Wilshire for the efforts. Watch out for more information on this committee!
Hong Kong and Australia Join Forces to Secure Trade Achieving win-win situation for supply chain and faster cargo flow
Hong Kong-Australia Mutual Recognition Arrangement (MRA) on Authorised Economic Operators (AEOs) Programmes Acknowledging the long and extensive trading relationships between Hong Kong and Australia, the AEO MRA signed by the two Customs administrations in July 2017 further demonstrated both parties’ unwavering commitment to advance bilateral trade through providing accredited companies with faster Customs clearance. Traders can enjoy seamless flow of their goods along the secure supply chain between the two regions, which will no doubt encourage and strengthen the bilateral trades. HKAEO Status – A “Quality Mark” in Supply Chain Security The HKAEO Programme aims at enhancing international supply chain security and strengthening HKAEO members’ competitiveness and marketability, particularly in overseas markets by leveraging the on-going MRA achievements. The HKAEO status has earned widespread recognition among the business community which is regarded as “Quality Mark” (Q Mark) in supply chain security and “Customs’ trusted partner”. Since the formal launch of the Programme, 45 companies from various industries are accredited and have become icons of supply chain security.
The Commissioner of Customs and Excise, Mr Hermes Tang (right) signed the MRA with the Acting Commissioner of the Australian Border Force, Department of Immigration and Border Protection, Mr Michael Outram APM (left)
HKAEO Benefits – Customs Facilitation and Beyond HKAEOs can enjoy Customs facilitation such as reduced inspection or prioritized clearance. Hong Kong Customs (HKC) has set up “AEO Priority Service Counters” and “AEO Priority Parking Spaces” at various control points for handling AEO consignments with priority. Besides, HKAEOs are entitled to use the designated logo for business promotion and brand building. The majority of members have applied it on their companies’ websites, vehicles and business cards etc., showing their commitment to supply chain security management to the public. Through enjoying such exclusive benefits, HKAEOs can surely “go faster” beyond Hong Kong.
AEO MRAs – Achievement on “Win-Win” Under the MRA, Customs administrations will provide reciprocal clearance facilitation to the accredited companies of MRA partners. The more predictable time for cargo delivery and less operational cost of delay shipments can help to strengthen customers’ confidence. Local enterprises only need to take one step to become a HKAEO member, they can then automatically enjoy the benefits introduced by new MRAs. To achieve a win-win situation for both safer supply chains and faster cargo flows, HKC has been actively exploring the possibility for developing MRAs with a particular focus on regions along the “Belt and Road” which will introduce for HKAEOs faster lanes to gain access to those new markets. On top of the existing eight MRAs, collaboration with Mexico and New Zealand Customs to secure global supply chain are expected to be established in mid-2018.
Joint validation conducted by C&ED and Department of Immigration and Border Protection in Melbourne
For further details of the Programme, please refer to the following: Contact Person: Sherman YU (Ms) Tel: +852 3759 2153 Email: email@example.com Website: www.customs.gov.hk/en/trade_facilitation/aeo/index.html
MRA Development Roadmap
New China Head for Woods Bagot
Arcadis makes waves with Volvo Ocean Race
orporate Member Woods Bagot recently appointed Stephen Jones as their new Regional Executive Chair for China.
Stephen joined Woods Bagot in 2005 and has over 25 years’ experience working across Asia, Australia, the Middle East and Europe, with a CV that spans the lifestyle, education and commercial sectors. He is a hands-on professional and is currently leading major projects across the group’s studios in China, Singapore, Dubai and France.
Together with Volvo Ocean Race, Arcadis is delivering an event that unites the inhabitants of Hong Kong with a premier sailing race and the need to improve water resilience, reduce plastic waste in the ocean and improve city livability.
Well known within Asia’s architecture and design sector as a regular industry and media commentator, Stephen embodies a ‘value through strategic design’ ethos, inspiring clients to explore how creative, considered design can support rich functions and express and prioritise a multitude of value streams – from financial, social, ecological, to digital or legacy value. The 850-strong global firm currently has over 100 active projects in China, with particular strengths in retail, mixeduse, workplace, healthcare, education and hospitality architecture and interior design as well as master planning and urban design.
he AustCham Westpac Australia-China Business Awards (ACBAs) has for 25 years been a means of recognising Australian and Chinese companies working between the two countries in the Greater China region. The Awards recognise the success of Australian and Chinese businesses in Greater China across a broad spectrum, from small entrepreneurs through to large publicly listed companies. Winners will be announced in Shanghai at the Awards Gala Dinner on Thursday 17 May 2018. Amongst the many benefits that finalists and winners of the Awards program receive is participation in an extensive promotional campaign that reaches the media, government entities and leading business decision makers across Greater China and Australia. Don’t miss the chance, to nominate your company today! Details and nomination: www.austcham-acba.com February 2018
orporate Member Arcadis is a Premier Sponsor of this year’s Volvo Ocean Race Hong Kong Stopover. The world leading sailing race came to Hong Kong for the first time in January.
The event was hosted at one of the iconic Arcadis projects – Kai Tak Cruise Terminal. With a focus on clean oceans, water resiliency and improving the quality of life for cities, the event also aligns with Arcadis’ brands mission, sustainability goal and their expertise in flood defences, water conservation and coastal resilience. Since 1973, the Volvo Ocean Race has been a human adventure like no other and provided the ultimate test of a team. The race will take the teams 45,000 nautical miles around the world, across four oceans, touching six continents and 12 landmark Host Cities, including Hong Kong.
Spotlight A Delegation from Australia to the Asian Financial Forum (AFF) a Success
delegation of Australians representing investor migration, funds management, property, tax and business advisory companies travelled to Hong Kong for the Asian Financial Forum in January. Led by Stacey Martin of Expat Advisory Community, the group was joined by delegates from Eaton Square and Impex Lawyers for the two-day annual event. Additional highlights included a trip to China’s “Silicon Valley” Shenzhen where cultural consultant Simon Kaiyu Li and AustCham sub-branch in Shenzhen hosted meetings tech and robotics companies, as well a Pacific Basin Economic Council on Belt and Road dinner and a junk trip hosted by Hong Kong Trust Company.
Delegates met Kely O’Dwyer, Minister for Financial Services at the Investment Zone in AFF.
In addition, delegates participated in seminars supported by KPMG featuring StudyLane, an innovative education aggregation platform, HNW migration strategies for Australia and New Zealand, and non-bank lending for new purchases and property developers. Adam Goern launched “The Milk Road,” a metaphor for growing demand for Australia’s clean and green produce. For further information visit http://aff2018.expatadvisorscommunity.com.au/ Delegates at welcome drinks after arriving Hong Kong. or contact firstname.lastname@example.org
7th Goodman Interlink Magic Mile Charity Run
red Hollows Foundation, one of the chamber’s CSR partners, is working with Goodman this year on the Goodman Interlink Magic Mile Charity Run and inviting you and your colleagues and family to race up the 15 floors of the Goodman Interlink cargo ramp! All the funds raised are donated directly to the Fred Hollows Foundation to help train and empower local eye doctors, nurses and health workers to create a sustainable system of care as part of a major 3 year project in Huanxian County in Gansu Province in Western China. Date: Sunday, 25th March 2018 Time: 8:30 am to 12:00 pm Venue: Goodman Interlink, 39 Tsing Yi Road, Tsing Yi Free shuttle bus service between Tsing Yi and Kwai Fong MTR station and Goodman Interlink will be provided between 8:00 am to 1:00 pm. Free parking is available too.
Sponsorship opportunities available! For enquiry or to register: http://cn.goodman.com/goodman-interlink-magic-milecharity-run/registration or email: email@example.com
CAPITOL Productions 30
Hong Kong, Tokyo, Australia www.capitolproductions.com CAPITOL produces engaging content and brand messaging designed to captivate your target audience. Complete production services from concept design, programming, through to installation and distribution for integrated multimedia engagement.
Donna Hampton Founder, CEO
At CAPITOL we specialise in creative digital content for mobile devices, television and large screen displays including signage for smarter cities; transportation hubs, retail centres, public art, wayfinding and corporate communication systems.
What’s something most people don’t know about your company? CAPITOL has access to a global network of content providers from 52 difference countries. As the President of IQ, International Quorum, we have access to this fifty year old organisation that has an extensive global network of producers and creative talent.
With over twenty years of award winning work, having partnered with Bloomberg, JPMC, Emirates, Qantas, Coca Cola, Nestle, Volkswagen and Toyota, we will find a solution to best suit your needs. Call to access a global digital network that bundles production costs for greater value and impact. What are the main skills of your job? As CEO I provide strategic leadership however still remain hands on and close to projects we undertake. Project management is a critical component of what we do at CAPITOL and is the basis of our success. Transforming a client’s branding onto a new digital medium requires an intimate understanding of the relationship between creative design, software development, and hardware interface. What’s the most unusual thing you have had to do as part of your job? Creative design has few limitations so we are constantly challenged with situations that require innovative solutions. Very little is off limits these day such as the time we partnered in suspending two football players 10 stories high on a make shift football pitch in Tokyo as part of a sportswear promotion. Somewhat complex but a lot of fun. What does your company do really well? The success of our company has come from sound project management. The cornerstone of our methodologies is constant communication that not only enhances project collaboration but leads to on time and on budget outcomes. What is the vision of your company in 10 years? Globally our governments are looking to build smarter cities. At CAPITOL we want to connect people with engaging communications as we build cities for the future.
What’s your company’s connection to Hong Kong? CAPITOL have been working within the asia pacific region extensively for 20 years and have now set up base in Hong Kong. We are so excited to be here as Hong Kong is such a diverse society and a wonderful canvas for us to work with. We look forward to establishing our roots in this great city. How would you describe your workplace and colleagues? We all love what we do, remaining flexible (and contemporary) is of most importance. Working in a relaxed creative environment but able to step it up and be committed to delivering a dedicated service and a high-end product. What’s your favourite place to go on the week-end? There is so much to do in Hong Kong however one of my personal favourites is Lamma Island. At any time of the year you can take a quick ferry across to the island, take a relaxing hike or swim and then finish off with a wonderful seafood lunch or dinner. A very relaxing place to spend time with family and friends.
On the Scene
he "Year Ahead" is back and we enjoyed listening to the insights from expert economists and strategists about what lies ahead for global markets and the economy. A big thank you toÂ Baker Tilly Hong KongÂ for their long standing support for this fantastic series.
Published on Feb 15, 2018