AustCham News Issue 202

香港澳洲商會

The Australian Chamber of Commerce Hong Kong

H O N G

K O N G

austcham news • Issue 202 | SEP 2018 5 AustCham Macau Becomes Separate Entity 8 Hong Kong: Global IP Centre for Greater Bay Area 10 AustCham’s Policy Address Submission

Trading Places What direction will the Morrison Government take?

Where Business, People and Ideas Connect

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ecently I was interviewed by The Sydney Morning Herald regarding the Australian Competition and Consumer Commission (ACCC) approval of the CK Infrastructure bid to acquire the energy entity APA. It still needs to be cleared by the Foreign Investment Review Board (FIRB) and the Federal Government.

It’s not for me or the Chamber to comment on the merits of specific proposed investments. However, we do have a role to play to ensure there is clarity and understanding in the business community about the investment climate and policies in both Hong Kong and Australia.

In this issue of AustCham News I provide a historical context of the past 60 years of foreign investment in Australia. While it may seem from the headlines that the world is increasingly heading towards protectionism and the imposition of trade barriers, Australia, beyond the extreme voices, has consistently subscribed to free and open trade with the rest of the world.

Chairman's Column austcham news issue 202 AustCham Macau 5

Entity Cover Story 6

However, misconceptions remain. Hong Kong is a special administrative region of China, but it is governed separately. Hong Kong companies operate in a different system under the ‘One Country, Two Systems’ framework. Hong Kong companies adhere to international standards and codes, and a rule of law that applies across jurisdictions globally.

Australia’ New Leadership Team Greater Bay Area Focus 8

Hong Kong: Global IP Centre for

Greater Bay Area Making an Impact

AustCham’s Policy Address

Australia Focus 13 Hong Kong Focus 16 Industry Insight 18

Member Comment

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Feature Interview

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AustCham UOW

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Mentor Programme Committees in Action 26 Spotlight 28 Corporate Profile 29 On the Scene 30

This is a message which those of us who live here know, but, somehow, still requires us to repeat loudly and often..

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

Andrew Macintosh chairman@austcham.com.hk

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Submission

Australia is now seeing the benefits of its free trade agreements with Japan, South Korea and China. Recently Australia and Indonesia announced they are close to finalising a Comprehensive Economic Partnership Agreement.

Comments from the new Trade Minister, Senator Simon Birmingham, indicate the much anticipated free trade agreement between Australia and Hong Kong could be signed by the end of this year. This will be the result of dedicated work by officials from both sides and will further enhance the business opportunities, which even in the absence of an FTA have always been close and strong.

AustCham made a submission in support of the FTA on behalf of members.

The business climates in Hong Kong and Australia are very compatible. In order for Hong Kong companies to attract a high calibre of institutional investors they must adhere to the highest standards of governance and transparency. This is not different to the expectations of investors and shareholders in Australia.

AustCham Macau Becomes Separate

austcham news Online version

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Chamber Chatter

What’s Trending

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f ever we need reminding of what an extraordinary place Hong Kong is, Typhoon Mangkhut was such an occasion. The largest super typhoon in Hong Kong in recorded history bore down on the city, causing major property damage and extensive fallen trees and debris.

Miraculously, there were no reports of major casualties reflecting the excellent advance warning systems, preparations and emergency communications. To experience the swaying of a high rise building when the winds were at their most intense, was surreal.

While the damage to property – particularly to marine craft and along our beaches – is severe, the fact the damage is not worse is testament to the excellent structural and geotechnical engineers who have built this extraordinary city on slopes and hillsides across the barren rock. And it’s also important to acknowledge the work of the extraordinary frontline staff at CLP, at the MTR and other major utilities who managed to keep a skeleton train service running and maintain power supply across most of Hong Kong.

And to the emergency response teams, and the street cleaners, police and others who worked tirelessly around the clock to clear the roads of large amounts of fallen trees in order to get the city back to work again – we owe you a debt of gratitude.

This was dangerous work and the damage was widespread – for Hong Kong to be back up and operational within just 48 hours is extraordinary.

Stories abound of the communities coming together to help neighbours who suffered flooding, who are working together to clean beaches and waterways of debris and fallen trees. This reminds of us the resilience of this dynamic city which bounces back time and time again.

And for those businesses who insisted their staff come to the office the day after the typhoon – it might be wise to think about the impact on staff retention. With remote connectivity and phone services uninterrupted, there should have been no need to expect staff to attend under such dangerous and difficult circumstances. Treating staff with decency is not rocket science and is far more effective than expensive company-wide programs aimed at retention if businesses fail to get the basic right.

On that note, I look forward to introducing to two new faces at AustCham as we bid farewell to long-serving members Elaine Lee and Karen Wu. You can look forward to meeting Alix Ho membership and projects co-ordinator who is working with Angus Perry on our new Intern Programme. And I also welcome Australian journalist and long-time Hong Kong resident James Kelly who is assuming the role of editor of AustCham News.

Jacinta Reddan, Chief Executive, AustCham

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

Where Business, People and Ideas Connect The Australian Chamber of commerce in Hong Kong is Australia's largest international chamber with about 1,400 members representing about 500 Australian and Hong Kong based companies.

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, its members or officers.

The Australian Chamber of Commerce in Hong Kong 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 © 2018 The Australian Chamber of Commerce in Hong Kong

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AustCham Macau

AustCham Macau Becomes Separate Entity Patrick Liu, Chairman of AustCham Macau

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he Australian Chamber of Commerce of Hong Kong and Macau has announced that the Macau chapter will now operate as a separate legal entity but reaffirmed the chambers would continue to work closely together.

The move to establish a separate entity was in response to a change in the rules in Macau requiring the chamber to register locally. It will also allow the Macau chamber to focus on issues of specific interests to its core members.

"While Macau will become a separate legal entity, we will continue to collaborate on a variety of issues of mutual interest.

That shared interest and that ‘united spirit’ has not altered with this legal change," said AustCham Hong Kong Chief Executive Jacinta Reddan.

AustCham Macau Chairman, Patrick Liu said: "This will allow us to develop services tailored to meet the needs of our passionate Macau member base as well as to establish closer business ties between Macau S.A.R. and Australia, as well as the Greater Bay Area."

"We look forward to continuing to work with our long-time friends at AustCham Hong Kong," Mr Liu said.

The move also follows the rapid changes in business development in Australia and the focus on Southern China in particular (including Hong Kong and Macau) with the Greater Bay Area initiative. This takes effect immediately, following the signing of a MoU today between AustCham Hong Kong and the new AustCham Macau.

AustCham Hong Kong was established 31 years ago and has always offered a range of services to members in Macau too, formalising that chapter by acknowledging Macau by name in 2006. During that time, the number of Macau-based members grew with the development of the now famous Cotai Strip.

AustCham Macau was formally established in July 2018. The two chambers will work closely together, with members of each chamber enjoying special reciprocal benefits as well as sharing of market intelligence.

A major project currently underway is the Greater Bay Area Committee, a joint cross-border initiative between AustCham Hong Kong, AustCham Southern China and, now, AustCham Macau to focus on exploring commercial opportunities and informing members.

The chambers will also be working closely together on the highly-anticipated Australia China Business Awards to be held in Hong Kong in May 2019.

The founding board of AustCham Macau is: Patrick Liu (Chairman) Andrew Scott (Vice-Chariman) Liviano Lacchia (Director and Treasurer) Michael Keen (Director) Michael Usher (Director and Secretary) AustCham Macau will establish its own secretariat and can be reached on +853 6613 3831.

This will allow us to develop services tailored to meet the needs of our passionate Macau member base as well as to establish closer business ties between Macau S.A.R. and Australia, as well as the Greater Bay Area.

Patrick Liu, AustCham Macau Chairman

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Cover Story

Australia’s New Leadership Team

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cott Morrison was sworn in as the 30th Prime Minister of Australia on August 24. We look forward to see whether under his leadership the government will scrap the proposed changes to the capital gains tax. Our Chamber had the opportunity to raise this issue in June this year, meeting with Mr Morrison as the then Treasurer in Canberra.

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Investors, too, are eager to detect any change of direction towards foreign investment from the new Treasurer, Josh Frydenberg. Meanwhile, we remain positive that a free trade agreement between Australia and Hong Kong will be signed by the end of this year.

Minister for Trade, Tourism and Investment Simon Birmingham

Prime Minister Scott Morrison

Minister for Foreign Affairs Marise Payne

Treasurer Josh Frydenberg

cont P.7

September 2018

Cover Story

cont from P.6

Deputy Prime Minister and Minister for Infrastructure, Transport and Regional Development Michael McCormack

Minister for Indigenous Affairs Nigel Scullion

Minister for Defence Christopher Pyne

Minister for Defence Industry Steven Ciobo

Minister for Communications and the Arts Mitch Fifield

Minister for Jobs, Industrial Relations and Women Kelly O’Dwyer

Minister for Industry, Science and Technology Karen Andrews

Minister for Education Dan Tehan

Minister for Agriculture and Water Resources David Littleproud

Minister for Regional Services, Sport, Local Government and Decentralisation Bridget McKenzie

Minister for Finance and the Public Service Mathias Cormann

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Minister for the Environment Melissa Price

Attorney-General Christian Porter

Minister for Home Affairs Peter Dutton

Minister for Small and Family Business, Minister for Resources and Skills and Vocational Education Northern Australia Michaelia Cash Matthew Canavan

Minister for Health Greg Hunt

Minister for Energy Angus Taylor

Minister for Families and Social Services Paul Fletcher

For full list please visit: www.pm.gov.au/your-government

Greater Bay Area Focus

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Hong Kong: Global IP Centre for Greater Bay Area A new survey by CPA Australia of its Hong Kong members has identified the key factors for the success of the Greater Bay Area initiative. One of those is intellectual property and Hong Kong is well placed to be a hub.

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mportant to the development of the Greater Bay Area (GBA) as a centre of scientific and technical innovation is the protection of intellectual property rights that may emerge from such innovation. Hong Kong, with its strong intellectual property (IP) protections, sound legal system, world class professional services sector, substantial incentives for innovation, dispute resolution services and good intellectual property support services, is well placed to be the IP hub of the GBA. There are many factors that drive the choice of location where innovation is undertaken - access to talent, access to finance, and incentives. Being able to protect the intellectual property rights such innovation may create is another important consideration in the minds of innovators. Hong Kong could play to its strengths and seek to be the destination companies and entrepreneurs choose for the registration and protection of their intellectual property and other commercial secrets developed in the GBA. Hong Kong becoming the GBA’s IP hub (and a global intellectual property hub) would assist the GBA to become a major global centre of innovation by encouraging more companies and

start-ups to undertake their innovation in Hong Kong and the rest of the GBA. Importantly, it would build on the substantial investment in innovation the SAR government announced in its 2018/19 budget.

Hong Kong becoming the GBA’s IP hub (and a global intellectual property hub) would assist the GBA to become a major global centre of innovation by encouraging more companies and start-ups to undertake their innovation in Hong Kong

For foreign companies and entrepreneurs, the proximity of Hong Kong to the advanced manufacturing capabilities of the rest of the GBA provides additional incentives to using Hong Kong as their destination for registering their intellectual property. For example, this proximity may lead to companies registering their IP in Hong Kong and using the GBA’s advanced manufacturing capability and large market to develop, refine, and commercialise their IP. cont P.9

September 2018

Greater Bay Area Focus cont from P.8

While Hong Kong already has many of the attributes necessary to become the GBA’s and a global intellectual property centre, there may be a need for additional measures to augment these existing advantages. Additional measures could include: • increasing the funding of Hong Kong’s Intellectual Property Department so it can offer more support, training and resources to business and entrepreneurs (including foreign businesses and entrepreneurs) • increase the promotion of the Hong Kong Trade Development Council’s IP trading platform, Asia IP Exchange • offering financial incentives to start-ups to register IP in Hong Kong • developing a patent box tax regime for Hong Kong. A patent box regime enables companies to apply a lower rate of profits tax to profits earned from its patented inventions Other suggestions to promote innovation in the GBA include: • establishing a joint innovation fund that all governments of the GBA would make a proportional financial contribution towards. Such a fund could provide matching funding to companies that undertake innovation anywhere in the GBA • establishing an organisation to promote the research and development (R&D) and advanced manufacturing capabilities of the GBA throughout the world

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• providing additional funding to GBA universities that promote innovation and entrepreneurship among their students and researchers • a fully-refundable super deduction of 200 per cent for expenditure relating to research and development and innovation undertaken anywhere in the GBA • accelerated depreciation for the purchase and installation of high-tech equipment and machinery anywhere in the GBA

Year round Mates’ Rates: Member Benefit Program 2018 This year we launched the new year-round Member Benefit Program, helping you to get the most out of your membership.

The exclusive benefits and discounts listed are available only to AustCham Hong Kong members, accessible by downloading a Membership eCard.

This provides exclusive marketing opportunities for members to promote their company’s products and services, replacing the month-by-month offer which was limited to only one company’s benefit or discount.

More details on our website. Terms and conditions apply. www.austcham.com.hk/membership/ membershipecardandspecialoffer

The full survey is available in both English and Chinese at https://www.cpaaustralia.com.au/media/media-releases

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Marco Polo Hotels - Hong Kong: 15% off at Cucina, Cafe Marco, Three on Canton and add@Prince Island Shangri-La Hong Kong: 15% discount on regular-priced items Retail PAGODA: Use code “aussiepagodalife” to enjoy 20% off Travel Hey Travelista: Save up to 70% on your next luxury hotel/resort stay Qantas Airways: Extra 5 kgs baggage allowance from Hong Kong to Australia Hotels Grand Hyatt Hong Kong: Special offer on F&B and Plateau Spa

ard Membership eC

Hotel VIC: Enjoy 20% discount on F&B at Cruise, The Farmhouse and The Farmhouse Deli.

Ovolo Hotels: 20% off on the Best Available Rate

Making an Impact

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AustCham’s Policy Address Submission AustCham recently presented its annual Policy Address submission to Hong Kong Chief Executive Carrie Lam. The following recommendations based on the views of our members were included.

1. Greater Bay Area opportunity AustCham supports the Government’s ongoing efforts to promote and identify the commercial and partnership opportunities arising from the Greater Bay Area (GBA) Initiative. We believe it is important for the success of the GBA that Hong Kong works closely with the 10 other cities covered by the plan and that its role as an international financial hub is maintained and continues to deliver prosperity and model global best practice across the GBA more broadly.

AustCham established a Greater Bay Area committee specifically to help our members better understand the initiative and to realise the opportunities presented in the GBA for the benefit of Hong Kong. We are now finalising a position paper on maximising those opportunities.

2. U phold Hong Kong’s role as a leading international city Hong Kong has long held the reputation of the world’s most competitive economies and an ideal place for investors and businesses, with deep capital markets, an international talent pool and highly respected rule of law and regulatory framework. With the increasingly rapid pace of change, predominantly driven by technology and innovation, Hong September 2018

Kong is now facing intense competition globally. We must strive to maintain the territory’s international competitiveness to safeguard and retain our role as a global financial centre.

It is important that Hong Kong’s place on the world stage is clearly articulated and that is unique points of difference are not diminished.

AustCham welcomes the Government’s focus on creativity, innovation and technology with numbers of new initiatives being introduced. We hope to see tangible programs launched as rapidly as possible, to ensure Hong Kong to focuses on what it does best, rather than trying to compete with innovation cities of excellence such as Shenzhen.

Embracing innovation and technology The Chamber welcomes moves to introduce innovation into the ageing construction sector but more needs to be done with a sense of urgency. We commend efforts to streamline the current layers of bureaucracies which are slowing construction and project approval processes. We believe this issue highlights a deeper need for some of the outcome-focused efforts at the top of the administration to be embedded right across the bureaucracy; that Hong Kong would be well-served in the cont P.11

Making an Impact cont from P.10

current rapidly changing environment by a bureaucracy which is more nimble, and focused on solutions rather than process.

AustCham urges the Government to address the shortage of adequately qualified middle management in construction and project management which could have significant repercussions for Hong Kong over the longer term. This highlights a broader need to foster greater understanding across the wider community of the valuable role of vocational training.

We also welcome the recent introduction of innovation into the banking sector through moves by the Hong Kong Monetary Authority to create an environment more conducive to smart banking. However, we believe Hong Kong’s rich financial services expertise creates a greater opportunity to carve out a leadership role in fintech development. We also believe the Hong Kong Government must do more to attract critically-needed data scientists and technical expertise particularly in the area of cybersecurity. Australia has deep expertise in cybersecurity and could contribute to the development in this area.

Enhancing the quality life in Hong Kong As one of the freest economies in the world, consumers in Hong Kong usually adapt to new technology quickly, often before policy and regulation can catch up. Examples include electric vehicles, ride-hailing and most recently noncombustible alternatives to cigarettes.

In today’s world, where consumer-centric technology and innovation are moving fast on all fronts, AustCham believes the right policy for governments is to ensure people have accurate information about and access to innovative products in a timely manner. To maximise the societal benefits and drive further innovation longer term, regulatory measures need to be based on sound scientific evidence and proportionate.

Hong Kong as a city of design excellence and creativity in Asia We are delighted that Melbourne is the featured city in this year’s Business of Design Week which will showcase the innovation and creativity inherent in Australia’s design sector.

We note the Government’s policy address last year committed additional resources to the Hong Kong Design Centre to foster creativity and we encourage further moves to nurture creative idea generation.

Our members have much to offer to help foster greater creativity and design-thinking for which Australia is renowned.

Indeed, we submit that a design-thinking approach to problem-solving within the Hong Kong bureaucracy could achieve significant benefits. We would welcome the opportunity to collaborate with the Government to create

a pathway for engagement with experts from Australia and locally with our members.

3. Embrace diversity and foster inclusion Building a diverse and inclusive workforce in all forms from culture and background to gender, race, age, physical ability and sexual orientation, is crucial for Hong Kong to create a prosperous and flourishing environment which enhances economic growth. We welcome the recent court ruling of same-sex spousal visa, offering Hong Kong’s business community the ability to attract and retain the best talent from around the world.

We urge continued government reform in this area and believe that such diversity will contribute to the territory’s creativity and dynamism. With the war for talent never greater, we believe it is important for Hong Kong to continue to introduce reforms in this area and to promote the benefits of diversity to the business sector. We also encourage specific moves to encourage Hong Kong business to employ people with physical disabilities.

4. ­Importance of maintaining English language standards Hong Kong’s point of difference is its international standing. This underpins the need to ensure that English language standards do not decline. We are concerned at reports from many members that such standards have fallen during the past five to eight years, in particular. If Hong Kong is to maintain the very special place it occupies globally, an investment in ensuring English language standards are maintained will cement its continued prosperity.

The administration can play a key role in this by maintaining and promoting English language standards, by continuing to ensure that Government material is bi-lingual, and by the administration modelling best practice in the ongoing use of English.

5. Hong Kong to become a smart and liveable city Innovation through Smart City development and Open Data sharing AustCham welcomes the initiative that the Government has taken with the release of the Hong Kong Smart City five-year blueprint in 2017. A key ‘enabler’ essential to the economic, social, and urban policy goals of this blueprint is embracing Open Data sharing.

We believe the Government has a pivotal role to play in encouraging data sharing across public and private sectors, along with engaging the academic community to incorporate insight through data science research. Australia has taken a number of concrete steps to building the foundations for cont P.12

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Making an Impact cont from P.11

achieving such a data driven future by initiating the creation of the CSIRO Data61 group in 2016. We recommend considering the adoption of a well-resourced and empowered data innovation group similar to Data61 to be the catalyst for Hong Kong to achieve its Smart City objectives by 2021.

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6. Central Harbourfront Site 3 AustCham has joined with local and international business communities to call for a departure from the “business as usual” approach to tendering this jewel in the crown of Hong Kong. We believe that this site could be the catalyst for a rejuvenation of the iconic harbourfront, thus creating a lasting legacy for Hong Kong. We argue that a holistic design-led approach which takes into account community, tourism and recreational needs as well as commercial and office space would enable world-class high quality design through a two-envelope approach (or similar).

We would commend to the administration the long-lasting immeasurable benefits reaped through the construction of the Sydney Opera House which continues to return multimillion dollars on its original investment to this day. We believe a similar aspiration and vision should be sought from this iconic piece of harbourfront land. We argue that a focus only on “dollars per square foot” would be a wasted opportunity.

7. Free Trade Agreement between Hong Kong and Australia AustCham fully supports a Free Trade Agreement (FTA) between the two jurisdictions as we recognise the importance of this long-established two-way flow of trade of goods and services. We have actively lobbied for the FTA and we understand that discussions are well-progressed. We look forward to a successful conclusion.

8. Double Tax Agreement AustCham continues to lobby the Australian Federal Government regarding the significant benefits of a Double Tax Agreement (DTA) between Hong Kong and Australia. We will continue our advocacy efforts on this with

September 2018

both the Government and the Federal Opposition in Australia as this would bring certainty and clarity to Australian and Hong Kong businesses and investors with commercial operations in either jurisdiction.

During the year, we specifically raised the benefits of a DTA during all our meetings with senior government officials including with the Treasurer, the Trade and Investment Minister, the Minister for Financial Services and with Treasury officials.

9. Environment Plastic waste recycling AustCham remains concerned about the lack of recycling facilities in Hong Kong, particularly in relation to plastic waste. With 5.2 million bottles a day thrown away, within a decade, the three existing landfills will be full. We request the administration to focus on this critical issue as a matter of urgency which requires a multi-pronged response by the public sector, not least being a shift in consumer attitudes.

Housing availability and property affordability AustCham welcomes the Hong Kong Government’s actions on housing affordability and notes the planned introduction of a vacant property tax which we proposed in our submission last year. We hope our contribution to the formulation of this important policy was helpful and that the experience in the Australian state of Victoria provided a useful guide.

We encourage further measures to address housing affordability not least because of the ability of our members to attract international talent to relocate to Hong Kong. But we also recognise the need to create an environment in which start-ups and SMEs can thrive. AustCham fully supports a series of government measures to cool the property market.

As members of the international business community, the Australian Chamber of Commerce looks forward to continued close engagement with the administration at every level to help to ensure Hong Kong’s long-term prosperity and international standing.

Australia Focus

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Is Australia Still Open for Business?

Has Australia’s investment climate changed along with the Prime Minister? AustCham’s Chairman Andrew Macintosh says history may provide the answer.

- Andrew Macintosh

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he recent reshuffle in Canberra has created confusion and uncertainty in the overseas investor community.

Overshadowed by the ousting of Malcolm Turnbull as Prime Minister, was the government’s announcement regarding 5G, effectively banning two Chinese telecommunications firms, and the collapse of the National Energy Guarantee.

The Australian Competition and Consumer Commission (ACCC) has approved CK Infrastructure’s bid to acquire the energy entity APA. However, it still needs to be cleared by the Foreign Investment Review Board (FIRB) and the Federal Government.

There is concern that the government under the new Prime Minister, Scott Morrison, may take a tougher approach to foreign investment given some of the rhetoric about foreign investment. Astute overseas business leaders are quite rightly now asking questions about the investment landscape.

Climate change All of this is against a global backdrop of rising nationalism and protectionism. With an Australian Federal election to be called by May next year, if not sooner, what should investors be thinking about? Perhaps history provides a clue.

As a large land mass with abundant natural resources, coupled with a relatively small population, foreign investment has always been critical for Australia’s growth. Successive governments

have had to balance a stable and transparent foreign direct investment (FDI) regime and a need to preserve local interests, stability and security.

After the Second World War, while heightened nationalism remained, many countries moved away from an open investment policy as did Australia. However, the Australian government intervened, not to restrict foreign ownership but to prevent excessive local debt building up. In 1969, the Code of Takeovers was introduced to ensure that foreign investors weren’t taking advantage of local debt to secure purchases. It also imposed ownership restrictions in banking, mass media, uranium mining and aviation.

In 1976, the conservative Liberal government created the independent Foreign Investment Review Board (FIRB). The FIRB was given a clear goal: to approve investments that deliver “net economic benefits to Australia”. Benefits were broad and included considerations of competition, technical efficiency, skills development, export, taxation impacts, and environmental development and protection. Restrictions continued in banking, media and aviation, but were relaxed in uranium mining.

The FIRB formed the view that real estate investments failed to meet many of the net economic benefit tests of other business investments and were often declined. To remove the imbalance, cont P.14

Australia Focus cont from P.13

the government further relaxed restrictions and by 1983 the FIRB had rejected only 2.7% of applications over the preceding five years.

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While the Labour governments of Bob Hawke in the 80s and Paul Keating in the 90s yielded to the popularist notion of tightening real estate purchases, they actually relaxed other areas. More banks were invited to enter the market (16 did), as were stockbrokers. Small business takeovers were encouraged by raising the transaction threshold from A$2m (HK$11.2m) to A$5m (HK$28m), and most importantly, rural land was opened up for approval. Keating removed a requirement for an Australian shareholder for many deals, allowing 100% foreign investments in manufacturing, tourism, and parts of the nonbank financial sector.

Crucially, Keating changed the onus of approval and directed the FIRB to deem investments approved, unless it could show they would be a net drag on the economy. This approach has prevailed ever since 1986.

In response to the property bubble of Japanese investment in Australia in 1987, real estate restrictions were increased, but oil and gas limits were relaxed. The outcome of the left-leaning Hawke and Keating FDI policies meant rejections dropped to 2.2%.

So much for the Liberal coalition governments having a monopoly on pro-investment policies.

Labour pains Between 1987 and 1995, FDI became a hot topic as the government embarked on a wave of privatisation of national assets, including Commonwealth Bank, Qantas, and Telstra.

Despite responding to electoral sensitivities of “selling the farm” to foreigners by enacting foreign ownership limits on some previously governmentowned entities, rejections dropped to 2.0%.

Australia, unlike many countries, allows foreign investment and ownership of agricultural land. In 2016, there was much debate about the blocked sale of the Kidman cattle station to Penxin. In Australia, it received the quite understandable criticism of literally “selling the farm”. To put it in perspective, Kidman is 2.5% of Australia’s agricultural land spanning 100,000 square kilometres or almost twice the size of China’s Greater Bay Area. Ultimately, the Turnbull government allowed the sale of Kidman to a consortium comprising one-third Chinese Shanghai CRED. September 2018

The outcry from foreign interests overlooked a simple statistic, that in the last five years there have been only 11 rejections out of 130,599 applications (excluding withdrawn applications) or 0.008%. The last three rejections have been against companies from the US, Singapore, and Hong Kong and China.

Despite significantly reduced Chinese outbound investments, the total non-real estate approvals remain strong: A$126bn (HK$708bn) in 2015-16 and A$124bn (HK$697bn) in 2016-17 by volume, while a record 41,445 approvals in 2015-16 dropped to 14,357 last financial year.

Australia remains one of the most open economies in the world.

The new Prime Minister, Scott Morrison, is on record as saying he welcomes all foreign investment that does not compromise Australia’s national interest.

History demonstrates that both major political parties have maintained an openness to FDI. Australia’s economy has proven its resilience by its current 27-year recession-free run, which is the now the longest recession-free period in recent history. Foreign investment remains a key component of that economic growth formula that both political parties will continue to rely on.

investment with $3.8 billion coming from Singapore. Other significant sources of new direct inves accou flows came from Hong Kong of catalogue China) valued Based(SAR on ABS 5352.0.at $13.8 billion, Japan valued at $13.3 billion, C of 20 valued at $5.9 billion and Canada valued at $5.4 billion.

Refer In 2017, there were $44.5 billion in withdrawals of existing foreign direct investment in •Australia.

Australia Focus overall stock of foreign direct investment in Australia rose 6.5 per cent to $849.1 billion at the end

Foreign Investment Facts

Refer to Tables 3 & 4 for further information.

A recent report from the Department of Foreign Affairs and Trade ‘International Investment Australia 2017’ provides a snapshot of foreign investment.

A$b 180

Total investment 160 • Net inflows of foreign investment in Australia 140 (FIA) were valued at A$26.6 billion in 2017. The value of the stock 120 of FIA was $3.3 trillion in 2017, an increase of 2.7 per cent from 2016.

100 80 were the United • The largest sources for the stock of FIA in 2017 States (valued at $896.9 billion), followed by60 the United Kingdom (valued at $481.4 billion), Belgium (valued40at $305.3 billion), 20 (SAR of China) Japan (valued at $219.2 billion) and Hong Kong (valued at $116.6 billion).

0

Foreign investment in Australia

Foreign investment in Australia by economy

A$b 1,000

Quantum of new direct investment in Australia 2016

2017

• The U inves 2017

FOREIGN INVESTMENT REVIEW BOA 800

• The U large follow value

600 400

15

200

• China in 201 The0 Foreign Investment Review Board (FIRB) is a non-statutory b US UK Belgium Japan Hong Kong (rank 2010 2011Treasurer 2012 2013 2014 2015 Foreign 2016 Investmen 201 and the government on Australia’s (a) • Investment from China was valued at 65.0 billion (ranked 9th), while (a)inflows SAR ofofChina.

Gross direct investment Reinvested earnings• Refer Board examines significant foreign investment applications that investment from India was valued at $15.5 billion (ranked 22nd).

Based on ABS catalogue 5352.0.

Policy (a)Investment SAR of China.

Based on ABS catalogue 5352.0 and unpublished ABS data.

Direct investment

and/or the Foreign Acquisitions and Takeovers the Treasurer on potential national interest concerns. The Board Based on ABS catalogue 5352.0.

Responsibility for making decisions on the Policy and proposals r

Quantum ofcaptures new investment by major source, 2017 • Net inflows of direct FIA were valued at $60.5 billion in 2017. The FIRB data only proposed new investments (gross inflow Quantum of new investment by major source, 2017 quantum of new direct investment (gross inflows of new direct FIRB data does not show actual flows or stocks of FIA – refer to B investment) was valued at $105.0 billion. The major sources for United States, new direct investment flows were the European Union ($24.0 Other, $20.9b, $17.8b, 17.0% FIRB approval statistic 19.9% billion), the United States ($17.8 billion) and Hong Kong (SAR of 5 The majority of total investment from Belgium is Portfolio investment liabilities in th A$band despository for euro-denominated bonds and other securities, China) ($13.8 billion). house • Euroclear).

FIRB ap

• In 2017, the stock of direct FIA was valued at $849.1 billion, an increase of $52.0 billion or 6.5 per cent from 2016.

• The United States, Japan and the United Kingdom were the three largest direct investors in Australia in 2017.

• United States’ stock of direct investment was valued at $189.9 billion in 2017 (down 1.6 per cent), Japan was valued at $92.5 billion (up 1.6 per cent) and the United Kingdom was valued at $83.2 billion (up 11.4 per cent).

Based on unpublished ABS data.

• The Mining industry comprised the largest share of the stock of foreign direct investment in Australia in 2017, with $315.3 billion or 37.1 per cent of total foreign direct investment.

China, $5.9b, 250

5.6% Canada, 200 $5.4b, 5.1%

Japan,$13.3b, 12.7%

investm in 2015

150Singapore,

$3.8b, 3.6%

100

Hong Kong, $13.8b, 13.2%

50 0 2012-13

2013-14

United Kingdom $8.3b, 7.9% Other EU, $15.7b, 14.9%

2014-15

2015-16

2016-17

Source: FIRB annual reports.

• Agriculture accounted for 0.3 per cent of total foreign direct investment, worth $2.5 billion.

FIRB approvals for proposed investment in

FIRB approvals for proposed investment in Australia by economy

A$b 50

• China had approved investment of $38.9 billion in 2016-17.

40

• The United States, Australia’s largest source of foreign investment in Australia, had $26.5 billion of approved investment in 2016-17. Canada had approved investment of $23.2 billion followed by Hong Kong (SAR of China) $15.7 billion.

30

Source: DFAT publication ‘International Investment Australia 2017’. https://dfat.gov.au/about-us/publications/Pages/internationalinvestment-australia.aspx

• China h 2016-17

2016-17

• The Uni foreign of appro approve Hong Ko

20 10 0

China

United States

(a) SAR of China. (a) SAR ofFIRB China.

Source: annual report.

Source: FIRB annual report.

Canada

Hong Kong (a)

Hong Kong Focus

M

embers and guests shared their tales of surviving Typhoon Mangkhut at the Chamber’s post-storm Mix at Six. Thank you to event sponsor Australian International School and venue partner Wagyu.

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The final Mixer for the year will be held on December 5.

Sponsor:

Venue Partner:

September 2018

Hong Kong Focus

17

Industry Insight

18

China Tourism: Reaching Australia’s Potential A recent report by L.E.K Consulting, based on market surveys with Chinese visitors and students, and interviews with senior executives from across the tourism, trade and related sectors, shows there is a lot more work to do if Australia is to capture the full value from the Chinese tourism boom. David Bishop and Emily Davis of L.E.K. Consulting highlight the findings.

O

ver the last decade, China tourism and other forms of visitation to Australia have grown extremely fast (from 330m to 1.6bn) and this trend is expected to continue. Naturally, as travel to Australia has developed, various economic connections have formed between Chinese households and Australia, including education, property ownership, and consumption of Australian consumer products. Chinese relationships with Australia generally start with a tourist visit. Australian tourism is highly aspirational for Chinese residents, and for the most part delivers at or above expectations.

A successful visit to Australia creates a desire for broader connection and economic participation in the Australian lifestyle. At the level of the Chinese individual, there are demonstrable linkages between Australian tourism experiences and participation in Australian education, business, property, consumer goods and migration.

At present, 31% of Chinese visitors have a broader connection to Australia (Figure 1). Survey responses indicate that this increases to over 80% if respondents act on the future desires (for broader economic participation) they expressed.

Figure 1: Broader connections of Chinese visitors to Australia (June 2017)

cont P.19 September 2018

Industry Insight

cont from P.18

Figure 2: Chinese tourism is at the centre of a broader economic system

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The total economic system (Figure 2) includes education, export consumption, property investment and further tourism itself. The functioning of this system and the connections within it provides business opportunities for savvy entrepreneurs in both countries, and a great deal of beneficial economic activity in both markets.

Tourism There were approximately 1 million Chinese visitors (excluding education visitors) to Australia in 2016 ranking China as Australia’s second-largest inbound visitor market. Strong Chinese visitation growth is expected to continue with TRA projecting a 13% CAGR in visitors out to 2026 (Figure 3), excluding education visitors. An increasing proportion of Chinese visitors are leisure visitors, while a significant share are still pursuing education or business. Survey results suggest that 7% of leisure visitors later return for other purposes, which highlights the importance of leisure visits as a driver of future engagement.

Figure 3: Chinese inbound visitors* to Australia (2005 to forecast for 2025)

There are a range of priorities for development if Australia is to retain and build the value of its Chinese tourism franchise.

An overarching theme in consultations with industry experts is the importance of educating workers who deal with Chinese visitors, so they better understand Chinese culture and customs and can handle interactions appropriately. This will ensure a higher level of service across the whole tourism industry.

Other priorities include responding to Chinese technology / payments behaviour, providing high-quality, genuine Australia experiences for the growing proportion of FIT travellers, increasing and improving capacity and infrastructure to meet growing demand and rising expectations and smoothing seasonal demand. cont P.20

Industry Insight cont from P.19

20

Education Australia has more than 560,000 international students on student visas.

China is the largest source market, with roughly 165,000 Chinese nationals studying in Australia, representing 29% of international students in the country and growing at ~6% CAGR from 2010-17. The impact of Chinese education extends far beyond the direct economic benefits that come from the tuition and living expenses incurred while studying (Figure 4).

Figure 4: The inbound student market

It is estimated that the total economic value to Australia of a Chinese student is around $59k per year, with the largest proportion of this being for tuition fees and living expenses. This suggests an approximate economic contribution by Chinese Students of $5-6 billion p.a.

While Australia generally does well in offering a quality experience for international students, there is more that can be done to help students form lasting links with Australia and get the most out of their time in the country. Additionally, there needs to be a clear pathway to employment for Chinese students beyond their study period in Australia.

More than half (58%) of students are not seeking professional employment in Australia upon graduation Export Consumption China is Australia’s second-largest market for consumer exports (Figure 5); Australian exports of consumer products to China have experienced strong growth of 24% annually over the last five years.

Figure 5: Australia's largest consumer* export partners (2010-16)

Visits to Australia provide a significant opportunity to drive consumption of Australian goods and services in China. In essence, tourism functions as free advertising as visitors buy and experience local products ‘in situ’. After visiting, 86% of surveyed visitors said their purchasing of Australian products increased. Many Australian products need stronger distribution channels in China to maximise their reach. Typically, this will mean partnering with a Chinese company in the beginning and leveraging its knowledge of the Chinese market.

Investment Australian property is in high demand among foreign investors.

Credit Suisse estimates that foreign investors purchase 25% of the new housing supply in NSW and 16% in Victoria. Of foreign buyers in NSW, Chinese buyers (including those from Hong Kong, Macau and Taiwan) account for 77% of purchases. Credit Suisse estimates that the taxes from foreign buyers generate $4.9 billion and $3.1 billion each year in NSW and Victoria respectively.

This article is adapted from “The China Tourism Economy: Reaching Australia's Potential”, published by L.E.K. in partnership with the Australia China Business Council, the Victorian Government and Trade Victoria. The full report can be found at https://www.lek.com/ insights/china-tourism-economy-reaching-australias-potential

September 2018

Member Comment

Why Hong Kong Needs a Sugar Tax Should Hong Kong follow the UK and introduce a tax on sugar? Gavin Wong, Director of Australian food importer TYW Enterprises provides an overview of the issue In Mexico, after the introduction of a flat sugar tax, sales of sugary beverages dropped by 5.5% in the first year and 9.7% in the second year2. The purpose of a flat sugar tax is to reduce overall consumption of sugary beverages.

Sweet success The UK has recently introduced a tiered sugar tax, which has a higher rate for greater sugar levels. Soft drinks above 5g sugar per 100g attract an 18p tax while drinks above 8g sugar per 100g are taxed at 24p tax. A number of beverage manufacturers reformulated their drinks below 5g sugar per 100g to avoid paying taxes even before the tax came into effect.

H

ong Kong people have an addiction to sugar. From the bakery chain breads and cakes, beverages in cha chaan teng restaurants, dessert soups to pasta sauces, salad dressings and pizza, sugar is used excessively. Sugar is not just a sweetener, it is also used to balance flavours especially in citrus or tomato-based dishes.

When F&B manufacturers create a new food or beverage product, they test many different recipes which include optimising the sugar level to maximise enjoyment for the consumer. If increasing the amount of added sugar (which is inexpensive) also increases customers’ satisfaction and sales, ignoring all other factors, then it is an obvious business decision.

The current Hong Kong diabetes incidence rate is approximately 10% of the population, and is forecast to increase to 13% by 20301. Over-consumption of sugar not only leads to diabetes, it also increases the risk of stroke, cardiovascular disease, and kidney failure.

Diabetes type 2 is preventable and, in most cases, reversible.

Diabetes and related diseases cause an immense but avoidable strain on the public health system.

Suggestions have been made to F&B manufacturers and restaurant groups to reduce sugar in beverages and food but with little demand side pressure and without incentives or penalties, it will be business as usual. There is little customer education on the harmful effects of over-consumption of sugar in Hong Kong.

The money raised from a sugar tax should be used to educate school children and their families as well as the lower income demographic who traditionally have higher consumption per capita of soft drinks. Education should also encourage 30 minutes of physical activity per day3.

Given the urgency and worsening situation in Hong Kong, the initiatives and recommendations to industry have been less than desirable

Soft drink advertising aimed at children near schools and public transport, during day time and prime time TV, as well as online marketing targeting adolescents should also restricted to encourage a healthier diet.4 Only a combined effort on a few fronts can improve the rising health issues: a tax on sugary drinks, whether this is a flat tax to reduce overall consumption, or tiered tax to encourage manufacturers to reformulate drinks; public education; and advertising restrictions.

Leaders and influencers in Hong Kong’s F&B industry have the power and responsibility to take the initiative and find ways to reduce sugar levels to provide healthier products for people in Hong Kong.

Source: http://www.diabetes-hk.org 2 https://www.telegraph.co.uk/news/can-sugar-taxes-solveobesity-diabetes/ 3 http://www.who.int/en/news-room/fact-sheets/detail/diabetes 4 https://www.chp.gov.hk/files/pdf/saptowards2025_fullreport_ target7_en.pdf 1

21

Feature Interview

A Conversation with The Hub Hong Kong AustCham News meets Rodney Heng, Executive Director of The Hub, a children’s support centre and one of AustCham’s CSR partners.

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Rodney Heng, Executive Director, Fundraising and Communications

Can you tell us about The Hub Hong Kong and how you get involved?

The Hub is a children and youth centre looking after underprivileged children and their families in Sham Shui Po. Everyday, there are over 200,000 children living in poverty in Hong Kong and we are trying to do our part to support them so they can have a fair chance of having equal opportunities in life. The Hub gives them access to education support and other extra-curricular activities which they may otherwise not be able to afford.

Having lived in Hong Kong for over 20 years, I am very keen to give back to our community and apply my experience with larger NGOs to help smaller front-line charities grow and sustain their impact. Our Co-founders David and Bruce explained their vision and heartfelt motivation for setting up The Hub. I felt it was a natural fit for how I want to help and serve.

What inspired you to work in this field? What is the most rewarding aspect of this job?

I am constantly inspired by how non-profits can be run like businesses and adopt many processes that commercial companies use, but for positive social impact outcomes rather

than shareholders. It is very rewarding to create shared value with private and public sectors - whether from companies, institutions, other organizations or individuals - and to use market forces to collaboratively make scalable change. Whilst it is very satisfying to be able to scale up some of the impact we make, it is also equally satisfying to help bring positive change to the life of one individual. Helping to make change on both a macro as well as micro scale is one of the most rewarding aspects of the job to me.

There are several charities in Hong Kong focus on child care and youth development, what sets The HUB HK apart from these organisations?

One of the key values The Hub brings is the care of our staff who knows our over 1200 active children and families service users on a personal basis. We are small enough to keep that human touch but large enough to have an impact in our local community. Our centre in Sham Shui Po offers a comfortable and easily accessible place that children and their families can call a second home. This is very important as a lack of development space is one of the acute issues our community, especially underprivileged children, is facing so we are directly addressing this need. Moreover, all our services are given free of charge for those on welfare, even if these services might be ongoing lessons or tutorials that the children need. Our administration functions are also heavily subsidized therefore more of what is donated goes directly into services.

How do you attract to gain wider support for The Hub? What are some opportunities and challenges associated with fundraising in Hong Kong?

Our Executive Committees all pitch in to engage members of our community to support The Hub via their own network.

We collaborate with other NGOs, companies and groups of individual volunteers to deliver a wide spectrum of services whilst simultaneously engaging and gaining their support and understanding. In this way, we are able to increase the efficiency of our delivery by leveraging community resources whilst reducing duplication.

It is always challenging for small NGOs to build sufficient awareness to attract enough support. Having the support of partners like AustCham helps us put the word out there, that interested parties can be directly contributing to and making a cont P.23

September 2018

Feature Interview cont from P.22

difference through activities and engagement with The Hub. Bringing greater understanding about how NGOs operate and how the private sector can collaboratively have an impact is also an ongoing process.

How can out member get involved?

AustCham members can get involved by reaching out to me at rodney.heng@thehubhk.org, Tel: 2506 3110. We can arrange an initial visit and discuss how members will be able to support The Hub’s work. As each company or group would have their respective strengths, we aim to understand how we can incorporate our partners’ contributions to build shared value.

23

What do you enjoy doing when you’re not working?

I keep an active lifestyle to let me indulge in not so healthy eating habits!

AustCham is a supporting partner of The Hub’s gala Crazy Rich Asians’ Charity Ball to be held on October 19 at the Grand Ballroom, Grand Hyatt Hong Kong

EVENTS UPDATE OCTOBER AT A GLANCE…

NOVEMBER AT A GLANCE…

Tue, 9 October, 12:30pm – 2:00pm Where is Australian Politics Heading?

Meeting Room 4-5, KPMG, 8/F Prince Building, 10 Chater Road, Central, Hong Kong

Fri, 2 November, 8:00am – 9:30am 20th CEO Forum with Sandeep Sekhri, CEO of Dining Concepts Ltd To be confirmed

Wed, 10 October, 12:30pm – 2:00pm Prepare for the Unexpected: Do you hold the Right Australian Stocks in Your Portfolio? *Independent Event Delivered Through AustCham's Event Management Service AustCham Business Centre, 3/F Lucky Building, 39 Wellington Street, Central, Hong Kong Thu, 11 October, 6:30pm – 8:30pm AustCham x BritCham: Joint SME Speed Networking Night CBRE, 3/F, Three Exchange Square, Central, Hong Kong Fri, 12 October, 8:10am – 12:30pm Cybersecurity Forum Townhall, Thomson Reuters, 18/F ICBC Tower, 3 Garden Road, Central, Hong Kong Tue, 30 October, 6:00pm – 8:00pm AustCham Emerging Technology Program Session 3: Virtual Reality & Augmented Reality To be confirmed

Tue, 6 November, 6:15pm – 8:30pm AustCham UOW Mentor Programme Session 4: Panel Discussion – Future Proofing Your Career To be confirmed Wed, 7 November, 12:30pm – 2:00pm Internet Scams To be confirmed Tue, 20 November, 12:30pm – 2:00pm Storytelling To be confirmed

DECEMBER AT A GLANCE… Wed, 5 December, 6:30pm – 9:00pm Christmas Mix The Arches, Level 1, The Murray, 22 Cotton Tree Drive, Central, Hong Kong

AustCham UOW Mentor Programme

T

he highly sought after AustCham UOW Mentor programme held its kick-off speed matching event for 2018 at venue sponsor KPMG. It allowed the 20 mentees to spend two minutes with each of the 20 mentors. Previous mentees shared their experience of the programme.

The launch network event, hosted by Little Creatures, was a chance for the mentors and mentees to be paired up and start to get to know one another. The AustCham UOW Mentor 2018 programme runs until May next year.

24

Launch network event sponsor:

Venue sponsor:

September 2018

Session 1

AustCham UOW Mentor Programme Session 2

25

Committees in Action

Sustainability Committee: Corporate Responsibility for Protecting Human Rights

A 26

p an el m o derate d by M ar k D evada s on discussed the plight of an estimated 40 million people around the world who are subject to modern slavery, human trafficking or forced labour.

Speakers Matt Friedman of The Mekong Club, Jaewon Kim of Business for Social Responsibility, and Flora Wang of BlackRock Greater China provided insights from their various perspectives as NGOs and investors on how protecting human rights is not just a humanitarian act but is also good for the reputation and bottom line of a company. The Q&A session addressed whether newly introduced laws in the UK and proposed legislation in Australia go far enough.

Venue sponsor:

Women in Business Network: A Serendipitous Career

P

ru Bennett, Head of Investment Stewardship APAC at BlackRock, is one of the region’s foremost voices in the public debate on corporate governance, stewardship and responsible investment. Addressing the WIBN breakfast Pru outlined her career path and why having a competent board with diverse skills is key to good governance and effective ESG. What makes a good director? An inquiring mind and knows when to seek independent advice. Thanks to Lauren Chung Chief Operating Officer Asia Pacific and Senior Managing Director, Teneo, for moderating.

Women in Business Network sponsors:

September 2018

Committees in Action

Marketing & Media Committee: Purpose Incorporated

A

s the founder of Room to Read, John Wood has always said that the key to its success came from treating it like a business. He argues that the most successful and innovative companies are not the ones that treat CSR as a nice-tohave but instil it into the DNA of an organization.

The result is that companies then have a much stronger competitive advantage. John shared some practical tools to improve employee recruitment, customer engagement, organizational effectiveness, shareholder satisfaction, and economic value.

Thanks to moderator Melissa Brown of Telstra.

Hear what our attendees said about the inspirational event.

Committee sponsors:

Event sponsor:

27

Spotlight

28

Register now for the 2019 Asia Pacific Cities Summit (2019APCS) and Mayors’ Forum Brisbane, Australia - Home of the Asia Pacific Cities Summit & Mayors’ Forum

B

risbane Lord Mayor Graham Quirk is set to welcome civic and business leaders from across the Asia Pacific to Brisbane for the 2019 Asia Pacific Cities Summit (2019APCS) and Mayors’ Forum.

Cr Quirk said the APCS had grown its reputation as an event of global significance for the best and brightest in business since being established by Council in 1996, with early bird registrations for the 2019APCS now open.

With a focus on ‘Driving Cities through Business and Innovation’, the 2019APCS will return to Brisbane, Australia, from 7 – 10 July 2019.

“Businesses can participate by taking part in the Meet@ APCS Business Program, sponsoring or partnering with us to promote their company, or by exhibiting products and services at the event and I encourage them not to miss this rare opportunity to build new business connections globally”.

Cr Quirk said the twelfth edition of this event would see Australia’s New World City provide the backdrop for more than 1000 delegates from across the region to build partnerships, exchange knowledge and hear from a variety of international speakers.

To register or for more information, visit www.apcsummit.org

“Council is committed to building Brisbane’s economy and hosting next year’s Summit is an opportunity for attendees to showcase local business opportunities to international visitors, share expertise, and welcome some world-class experts to our world-class city, including keynote speaker Marc Randolph, Co-Founder of Netflix,” Cr Quirk said.

“The Summit is not only a forum for important discussion, but also a platform for businesses to meet with the key decision makers of the Asia Pacific and fast-track their footprint in this rapidly growing market,” he said.

September 2018

Showcase your business: Brisbane Pavilion at the 2015APCS Market Square exhibition hub, Brisbane, Australia.

Corporate Profile

Edith Cowan University www.ecu.edu.au 29

Edith Cowan University has more than 30,000 undergraduate and postgraduate students. Around 6,000 are international students, originating from more than 100 countries.

Courses are offered at our Joondalup, Mount Lawley and South West Campuses. Courses are also delivered internationally in Singapore, Sri Lanka and the Middle East. The university has a comprehensive suite of online study options.

ECU courses are developed in consultation with industry, and teaching staff have extensive industry experience and networks. It’s why ECU students can expect placement opportunities, fieldwork, practicums and networking events as part of their studies.

ECU’s world-class research strives to make a difference to the community in Western Australia and beyond. ECU focuses on working with our communities, business and government organisations to solve real-world problems.

The university is a recognised leader in cybersecurity; performing arts and arts management; health sciences with a particular focus on melanoma research and exercise medecine.

ECU has established relationships with a number of international universities and is excited to be exploring opportunities with our closest neighbours in the Asian corridor.

What are the main skills of your job?

As Vice-Chancellor I provide leadership and set the strategic direction for the institution. I guess the important skills are being able to inspire and manage people, to work with key stakeholders and to serve as an ambassador for the University in the wider community.

What’s the most unusual thing you have had to do as part of your job?

There are many unusual things you get to do as a Vice-Chancellor.

However, the thing that comes to mind is dancing Gangnam Style as part of ECU’s successful attempt attempt to break the Guinness World Record for the Longest Dance Relay Marathon. We did it to celebrate our 25th Anniversary and our record is 25 hours.

Professor Steve Chapman, Vice-Chancellor of Edith Cowan University What does your company do really well?

What ECU does really well is look after our students.

ECU has had a 5-star rating for teaching quality from the Good Universities Guide for 11 years in a row.

We have also been the top rated public university in Australia, for two consecutive years, for student satisfaction in the Government’s Quality Indicators for Learning and Teaching.

What’s something most people don’t know about your company?

ECU has over 30,000 students with around 6,000 international students originating from more than 100 countries.

How would you describe your workplace and colleagues?

ECU is a dynamic and exciting university. We have many inspiring courses and world-class research happening here in Western Australia. We are a values driven organisation. Because of this, I believe we have attracted many staff who are leaders in their respective fields. It is a great place to work with high levels of staff satisfaction. My colleagues are dedicated to their work and to their students at ECU and that generates a feeling of real enthusiasm and enjoyment around the place.

What’s your favourite place to go on the weekend?

A long walk through the dunes and beaches near where I live with a stop off at the pub on the way home.

On the Scene Women in Business Network sponsors:

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Our Wine Sponsor:

September 2018

On the Scene Two (Many) Chefs at WIBN Summer Drinks

T

wo Australian culinary pioneers, Michelle Garnaut AO and Shane Osborn, shared their insights on how the dining scene in Hong Kong, China and London has evolved over the past 30 years, and the day-to-day challenges in running a restaurant.

The Summer Drinks event was hosted by the Women in Business Network at the residence of the Australian Consul General to Hong Kong and Macau, Michaela Browning.

Michelle, founder and CEO of the M Restaurant Group, established herself with the eponymous M at the Fringe, one of Hong Kong’s first western restaurants outside of a hotel when it opened in 1989, before embarking on her food forays in Shanghai and Beijing. Earlier this year she was recognised for her pioneering achievements by being made an Officer of the Order of Australia in the Australia Day Honours List.

In 2001 at Pied à Terre in London, Perth-born Shane became the first Australian head chef to lead a restaurant to obtain a Michelin star, a feat he replicated more recently with his highly acclaimed Hong Kong venture, Arcane.

Guests were treated to a selection of canapés from Arcane, which were paired with wines courtesy of Treasury Wine Estates.

Ours thanks go to the WIBN sponsors Ambition and Telstra, the evening’s moderator Kee Foong of keepicks, and to Michaela for her generous hospitality.

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

The Australian Indigenous Education Foundation The Australian Indigenous Education Foundation (AIEF) is a private sectorled, non-profit organisation focused on empowering young Indigenous people in financial need to build a brighter future for themselves and for the nation.

AIEF provides scholarships that enable Indigenous students to attend leading Australian schools and universities, as well as mentoring and career support to ensure students make a successful transition from school to further studies or employment, productive careers and fulfilling lives. www.aief.com.au

Fred Hollows

The Hub

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

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

www.hollows.org/hk/home

Hong Kong based Australians David Boehm and Bruce Stinson decided they wanted to give something back to Hong Kong after 30+ years of working and living here and the outcome was a commitment to help the children in disadvantaged circumstances.

Their belief that children are the future and key for Hong Kong to continue to be a prosperous community spurred them to form a charity to give under-privileged children the opportunity to find a better environment to develop into contributing members of the community. www.thehubhk.org