AustCham News February 2020 - Towards a Sustainable Future

THE AUSTRALIAN CHAMBER OF COMMERCE IN HONG KONG

Where Business, People and Ideas Connect

AUSTCHAM NEWS Issue 213 | Feb 2020

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Chairman's Column

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ustralia has welcomed a new decade amid one of its worst ever bushfires in history.

Australian expatriates, whether home for the Christmas break, or watching from afar, were in disbelief as the devastating flames raged across our country. On behalf of the Australian Chamber of Commerce in Hong Kong, I send my deepest condolences to those who have been impacted by the destruction.

In response to this catastrophic event, AustCham Hong Kong, together with the Australian community across the territory launched an appeal to support the bushfire efforts, with funds going to the Australian Red Cross. The community response has been extraordinary, and I sincerely thank everyone who has donated to the fund.

On 17 January we welcomed the commencement of the Australia-Hong Kong Free Trade Agreement (A-HKFTA). The FTA marks an important milestone in the bilateral trade and investment relations between Australia and Hong Kong. The FTA, which focuses on driving innovation, technology, intellectual property, and the collaboration of infrastructure, will also help stimulate the development of the Greater Bay Area, an economy that boasts a combined GDP of USD1.56 trillion, and is expected to grow faster than the whole of China over the next decade.

AUSTCHAM NEWS - ISSUE 213 Managing through the Novel Coronavirus

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Australia’s Consul-General, Michaela 6 Browning farewells AustCham Hong Kong Towards a Sustainable Future

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Introducing Shannon Powell - 17 Senior Trade and Investment Commissioner New Heights for Australia and Hong Kong - Edward Yau

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25 Years of History in The Making

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Keys to Success in the Greater Bay Area 22 The Power of a Multigenerational Workforce

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Building Asia Capability

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Mentor Program

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Financial support for SMEs

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Emerging Leaders Unite in Guangzhou

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The Fullerton Hotel Sydney Debuts at No.1 Martin Place

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New Tax Changers affecting your Australian Home

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Yours sincerely,

New Members

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Andrew Macintosh chairman@austcham.com.hk

Mates Rates: Special Offers for Members 32

I would also like to take this opportunity to bid farewell to Michaela Browning, Australia’s Consul-General to Hong Kong and Macau. You can read more about her departure in this issue. We are all very grateful for her extraordinary efforts and commitment to serving the Australian business community in Hong Kong.

Since her appointment in 2017, Michaela has worked tirelessly towards building closer and deeper ties between Australia and Hong Kong. I am looking forward to welcoming her successor in the next edition.

Finally, as I write, the impact of the novel coronavirus is being felt right across the community. We encourage you to follow the advice of our corporate member Gleneagles Hospital (see page 5) and we all look forward to this highly challenging situation turning a corner as soon as possible.

On behalf of AustCham, I would like to extend my best wishes to you, our members and your families for the new Lunar Year.

Please email story ideas, corporate news or thought leadership to the editor: isabella.chan@austcham.com.hk

The Season for Giving

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Hong Kong Community for Aussie Bushfire Relief

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READ AUSTCHAM NEWS ONLINE: austcham news Online version ISSUE 213 • 3

Chamber Chatter

What’s Trending

What a start to the year – both 2020 and the Year of the Rat.

Just as Hong Kong started to feel like the city was emerging out of the challenges of seven months of protests, we’ve been confronted with the novel coronavirus. The body blow to an already bruised Hong Kong is the last thing the business community needs as we were struggling with a decline into recession. For our members in the tourism, retail and hospitality sector this has been devastating.

And with each day that goes by and the number of events cancelled increases (as I write news of the cancellation of Art Basel has become public), the blow to the economy becomes deeper – and the impact on the tourism sector becomes ever more painful.

The impact of the coronavirus knows no sector boundaries of course and “work from home” has become commonplace across Hong Kong’s business community; with corporate Hong Kong responding very quickly to the challenge in the wake of the experience of SARS, the response has been swift, decisive and comprehensive. This stands Hong Kong in good stead to minimise the spread of the virus and we encourage you to practice good personal and environmental hygiene – combined with a very strong dose of common-sense.

Of course, AustCham has not been spared the impact and we were very disappointed to have had to postpone our sold-out Australia Day lunch featuring multi-award winning journalist Kerry O’Brien. We are very grateful to Kerry for so quickly agreeing to a later date and you will be hearing more about this. We will be running core events via webinar aiming to provide members with the most critical and relevant information at this time. I encourage you to join our webinar on how changes introduced by the Federal Government to the Main Residence Exemption for non-resident Australia could affect you with a looming end of financial year deadline. And we are also pleased to be partnering with Mayer Brown and International SOS to offer advice on how to manage through the coronavirus, providing highly sought after information.

With schools closed, and children and parents confined to home, social interaction is at a minimum. We encourage you to be aware of the importance of looking after your mental health – go for long walks in the fresh air, dust off the board games, be kind to one another and don’t forget the power of a good laugh.

On a far more positive note, the response of the Hong Kong community to the devastating bushfires in Australia has been overwhelming with more than AUD120,000 raised – donations coming from individuals, large corporates, schools and dedicated fundraisers (see back page for more). We must not lose sight of the fact that in difficult times, the power of coming together as a community has never been more compelling.

Published By: The Australian Chamber of Commerce in Hong Kong Room 301-302, 3/F, Lucky Building 39 Wellington Street, Central, Hong Kong T: +852 2522 5054 E: austcham@austcham.com.hk Editorial Committee: Isabella Chan Tracy Hansen 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 any liability for any loss however arising from or in reliance upon the whole or any part of this publication.

With that, stay well and look after one another.

Copyright © 2020

Jacinta Reddan, Chief Executive, AustCham

The Australian Chamber of Commerce in Hong Kong

AUSTCHAM PLATINUM PATRONS

4 • February 2020

Printed on environmentally-friendly paper

Managing through the Novel Coronavirus With the World Health Organisation declaring the coronavir us a global eme rgenc y, we encourage you, your staff, families and friends to take appropriate measures to stay healthy and practise good personal hygiene.

We recommend you keep up to date with Hong Kong Government anouncments (by scanning the QR code) and follow the below advice from AustCham HK Corporate member, Gleneagles Hospital. We are sharing regular updates with our members.

How to Stay Healthy: Protecting yourself from severe respiratory disease associated with the novel coronavirus

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aintaining good personal and environmental hygiene is of utmost importance to protect ourselves from pneumonia and respiratory tract infection. Below are some recommendations to note: • Hand hygiene is one of the most important measures of reducing spread of diseases. Always perform hand hygiene, especially before touching the mouth, nose or eyes; after touching public installations; or when hands are contaminated by respiratory secretions.

• Wash hands with liquid soap and water, and rub for at least 20 seconds. Rinse with water and dry them with a disposable paper towel.

• If hand washing facilities are not available, rub hands with 70 to 80% alcohol-based handrub. Use sufficient amount of handrub to rub our palms, back of hands, finger webs, back of fingers, thumbs, finger tips, and then wrists. Rub for at least 20 seconds until your hands are dry. Let the alcohol dry on your hands, do not wipe it off with paper towel. It is wise to check the expiry date of the handrub before using it.

• It is important to wear a mask properly before wearing and after removing a mask. Wear a surgical mask when taking public transport or staying in crowded places.

• Cover your mouth and nose with tissue paper when sneezing or coughing and dispose of soiled tissues into a lidded rubbish bin, then wash hands thoroughly.

• Refrain from visiting hospitals. If you must visit a hospital, put on a surgical mask. Observe strict personal and hand hygiene before and after visiting the hospital.

• Maintain drainage pipes properly and pour about half a litre of water into drain outlets regularly.

• As far as possible, avoid crowded places and minimise social contact.

• If you develop respiratory symptoms or a fever, put on a surgical mask and seek medical advice as soon as possible.

Precautions to take when travelling outside Hong Kong • Do not travel to countries or areas where community transmission of novel coronavirus is occurring. Perform personal and hand hygiene at all times.

• Avoid close contact with persons with fever or respiratory symptoms in countries or areas with possible community transmission of novel coronavirus infection.

• Do not visit wet markets, live poultry markets or farms.

• Refrain from touching animals, poultry, birds or their droppings.

• Do not consume game meat and do not patronise food premises where game meat is served.

• Avoiding consuming raw or undercooked animal products which may be contaminated by animal secretions or excretions.

• If you develop respiratory symptoms or a fever, wear a surgical mask and seek medical advice at once as soon as possible.

• Upon returning to Hong Kong, consult a doctor promptly and inform the doctor of your recent travel history and other relevant details to facilitate effective diagnosis and treatment.

Also st ay up to date with Australian Government announcements with the Smart Traveller app: ISSUE 213 • 5

Australia’s Consul-General, Michaela Browning farewells AustCham Hong Kong As 2019 drew to a close, AustCham farewelled one of its staunchest supporters Michaela Browning, Australian Consul-General to Hong Kong and Macau, whose tenure spanned a momentous period in the city’s history.

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t was a full house as AustCham members and friends formally acknowledged the extraordinary support of Australian Consul-General to Hong Kong and Macau, Michaela Browning. Jacinta Reddan, AustCham Chief Executive, described Michaela’s tenure in Hong Kong as outstanding, in terms of achievements and her support for the Chamber’s activities.

As Jacinta pointed out, the Consul-General’s role dramatically altered over the three year timeframe, becoming remarkably different from when she began official duties in April 2017. At that time, Hong Kong’s Chief Executive was CY Leung, and regional instability created by the US-China trade war was not even on the horizon. Michaela’s initial focus was Australia’s interests in digital transformation, trade, healthcare, cyber security, and opportunities arising from the Belt and Road and Greater Bay Area initiatives.

We know Hong Kong is not just a function of what China says it is, it is also a function of what the international community and business says it is - Michaela Browning

6 • February 2020

Since then, much has changed. AustCham members and their businesses have experienced months of instability and uncertainty, and millions of Hongkongers have taken to city streets in pro-democracy protests. All of this, against a backdrop where Australia’s leaders are reassessing our nation’s decades-long relationship, both politically and attitudinally, with our major trading partner – China.

Opportunities and challenges One of Michaela’s key commitments before her tenure ended was to drive the Australia – Hong Kong Free Trade Agreement (A-HKFTA) over the finish line. As an experienced trade negotiator, she oversaw the official signing of the A-HKFTA last March – a milestone not achieved by any of her predecessors.

The A-HKFTA agreement carries many benefits to Australian businesses and investors, providing certainty and confidence.

Key points include: • Zero tariffs on goods • Market access guaranteed for service suppliers • Better two-way investment • Greater regulator y cer taint y for e- commerce, specifically for data flows and storage, financial services, telecommunications and IP The new agreement means Australia now has goods and services agreements in place for seven of its top eight export markets, covering roughly 70 per cent of the nation’s trade. The importance of having such country to country agreements cannot be underestimated, at a time when the World Trade Organisation (WTO) rulings, on which many FTA’s are based, are seen to be losing their enforcement powers (i.e. both the US and China have moved outside WTO rules in their trade dispute). (See page 18 for more on the FTA which came into effect last month.)

Going Forward Despite ongoing political and economic turbulence, Michaela remains optimistic that the city will remain central to Australian and international interests in the region. “We know Hong Kong is not just a function of what China says it is, it is also a function of what the international community and business says it is, and confidence is significant. It does matter, and it can significantly influence what happens to this place,” she said.

Keeping Australia’s government, business and investment interests informed about the real issues affecting Hong Kong, and cutting through the public perceptions created by media, became a key driver in Michaela’s final year in office.

In spite of the serious challenges faced by the city, she has endeavoured to relay a clear picture of the situation back home to key stakeholders – in an effort to better inform their attitudes and decision-making processes.

“There is bifurcation in Hong Kong’s economy – the financial centre is still robust, and institutional money is not leaving.

Some of the advantages of Hong Kong in terms of soft and hard infrastructure are not easily replaced, and there is a lot to be quite confident about. Obviously, this is different from the retail and consumer sectors which are really suffering.”

Events over the past months have led the international community to question the vitality of the one country, two system of governance. “The one country, two systems has been shaken and I don’t think it’s controversial to say that.

When I came here (to Hong Kong), I would have said I was 100 per cent certain that this system was an enduring advantage, now I think its 75 per cent, depending on whether your business is retail or financial.” This changing international perception has in turn led to international pressure, namely by the US with its 2019 Hong Kong Human Rights and Democracy Act,and has been raised in both the UK and Australian parliaments. But Michaela said Hong Kong still retains key advantages including an independent judiciary.

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Although Australia has one of the closest relationships with China in the western world, and holds an extraordinary privileged position, as the number one destination for Chinese investment globally, our relationship is maturing. Due to differing governance and value systems, these changes are a challenge to institutional and policy arrangements in both Australia and China, at a time when the world is undergoing massive digital transformation.

“Australia has had a real evolution about policy thinking over China in the past five years,” said Michaela, “and we are all learning to have a more mature and sophisticated relationship.”

Learning to adjust to this ‘new normal’, she believes, had led to an evolution in policy in Australia. “China is a great power, it has now asserted itself, and it is saying what it thinks and demanding respect in all institutions and partnerships. I think we are settling into a new normal, and in a more sophisticated way, safeguarding our own sovereignty and identity – so that we can confidently engage and manage the risks,” Michaela said.

Unprecedented change After reflecting on shifts in policies and attitudes over the past three years, Michaela congratulated AustCham’s board for their role in transforming the chamber’s activities during her posting.

“AustCham has conducted itself extraordinarily well and stood up for Australian values, both diplomatically and ably. It has advocated strongly for its members and I can assure you that the Hong Kong authorities do pay regard, and listen, to its views,” she said.

She said her decision to lead the Australian government’s diplomatic service in Hong Kong, and exit her Australian Trade and Investment Commission (Austrade) role in Sydney, was based on the same decisions as AustCham members – the rise of China and the region.

“A lot of governments don’t really think first and foremost about commercial issues but you (AustCham members) know that so much about the Australia-China relationship is about our commercial relationship, and there is nowhere better to experience it, and the world shift to Asia than in Hong Kong,” Michaela said.

A staunch supporter of AustCham’s Women in Business Network, Michaela Browning’s farewell was the final network event for 2019, for this innovative series sponsored by Ambition.

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Hong Kong Highlights • November 2017: Michaela Browning is the first Consul-General to bring a sitting Australian Prime Minister (Malcolm Turnbull) to visit the city, in AustCham’s 30-year history • March 2019: Australia and Hong Kong sign a free trade agreement (A-HKFTA) and associated investment agreement Career Highlights • 23-year career with the Department of Foreign Affairs and Trade • Trade negotiator in the World Trade Organisation • Trade negotiator Australia – US FTA • Trade negotiator, Australia – Singapore FTA • Missions include Singapore and Thailand • Senior government policy advisor – Asia, trade and international security issues • Assistant Director-General, AusAid • Austrade-General Manager, Head of Investment

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Cover story

Towards a Sustainable Future The Chief Executive Officer of CLP Holdings Limited, Richard Lancaster, headlined the Chamber’s launch of our highly anticipated CLP Towards a Sustainable Future series, addressing questions around energy policy, and helping to debunk myths and barriers towards a de-carbonised future. The five-part series, sponsored by CLP, focuses on the global impacts of climate change, which is particularly relevant to Australia right now, where devastating bushfires and massive flooding have caused unprecedented destruction.

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n 2007, the same year that then-Australian PM Kevin Rudd commissioned Professor Ross Garnaut to produce a report on climate change, the CLP Group became the first Asia-headquartered power company to set targets to reduce its carbon intensity. Back in Australia, Garnaut’s ground-breaking report, released in 2008, recommended medium to long-term policies and frameworks for the nation’s progression towards a more sustainable future. Over the following two decades, the Hong Kong energy sector has made significant inroads; Australia, in comparison, seems to have become incapable of moving forward. It is poignant that the debilitating fires across the country may prove to be the catalyst for Australia to agree to (and implement) a clear and predictable sustainable energy policy.

The science is irrefutable Leading scientists expect the most recent bushfires in Australia likely to unleash around 900 million tons of carbon dioxide into the atmosphere, equivalent to nearly double the country's total yearly fossil fuel emissions.

science has proven is largely responsible for the one-degree rise in average temperatures we are now experiencing across the globe. While one degree doesn’t seem like much, we are already experiencing catastrophic consequences to our environment.

Imagine what a global increase of 2-3 degrees would look like?

““If Australia continues to release greenhouse gases into the atmosphere, we can view the current bushfire catastrophe as just a harbinger of things to come,” Richard Lancaster warns.

While Australia is naturally primed to burn, global warming has exacerbated the problem by creating hotter days, more powerful storms, less predictable rainfall and unprecedented drought reducing our bushlands to kindling. As the Times reported: “It’s not really possible to say whether global warming ’caused’ a given extreme weather event, since weather can have several causes. But the influence of climate change on extreme weather in general, from fires to floods, is increasingly clear”.

Australia has one of the highest per capita emissions of carbon dioxide in the world. In 2019, Energy Quarterly reported Australia uses coal power for 70% of its electricity. The burning of fossil fuels contributes to global warming, which

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Why is Australia still on the fence?

We can’t turn back the clock, but if we don’t take immediate action on fossil fuels, then we can expect temperatures to rise two degrees by 2050. More optimistically, if we act now, we can potentially stabilise it to 1.5 degrees, which might be a little more manageable.

As CLP’s Richard Lancaster observes, much of Asia is lagging in tackling climate change, but he is optimistic that if more cohesive policy is in place, many countries can potentially act faster compared to places like Australia and the US. “Unfortunately, energy policy in Australia is unpredictable and lacks clarity.

Appetite tends to vary depending on which party is in government and even which politician is leading that particular party at any one time”.

With no less than 60 industry regulators in Australia, Richard says that it is “difficult, almost impossible” to reach a consensus around sustainable energy policy. To overcome the gridlock, people and governments of different levels need to address the MYTHS about the energy transition, including: MYTH #1 business is not ready Governments often use the excuse that “the economy will not survive, or business is not ready” to fend off the transition to renewable energy. Richard suggests the business community approach climate change as just another inevitable disruption that they need to manage. When planning their approach, businesses need to trust the experts, consider the commercial impacts, assess the long-term risks and envisage what the future will be like in 50-100 years.

MYTH #2 transition will be too costly With limited natural and land resources, high property prices and increasing infrastructure costs, Hong Kong’s transition to sustainable energy could be very costly. In fact, CLP’s tariff level in its Hong Kong service area is only around half that of Sydney. With Australia’s abundance of land for solar and wind farms and a population committed to contributing towards the energy transition ABC’s Australia Talks National Survey in 2019 revealed that on average, most Australians are willing to chip in at least $200 a year to halt climate change - the costs in Australia are expected to be manageable.

PROGRESS TOWARDS ENERGY POLICY AUSTRALIA

HONG KONG

Has an abundance of space to house new power plants, plenty of sunshine and wind to power sustainable energy farms

Has limited space but sees opportunities, as well as challenges, of increasing zero-carbon energy through regional cooperation in the long term

Has 60 energy regulators

Has just one energy regulator

Lacks a clear, predictable energy policy

Has a clear, industry-backed decarbonisation strategy and is on track to meet its fuel mix target in 2020

Without a plan, Australia risks poor reliability, unnecessary costs and community disruption

Has limited the potential social and economic impacts of the transition on energy users with detailed planning and carefully considered tariff adjustments

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“The key question is, when and how can we stop releasing damaging pollutants into our atmosphere, while continuing to power our economy and our lives?”

- Richard Lancaster

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Cover story

14 • February 2020

MYTH #3 community backlash There is strong appetite for a sustainable energy policy in Australia. Of more than 54,000 Australians who participated in the ABC’s survey, most - 72 per cent - said climate change was their leading concern.

Richard expresses confidence that Australia’s transition to renewable power can be both economically and socially viable.

“The impact on people and the economy can be managed if the transition is implemented in a well-planned and coordinated way”, he says. If stakeholders are kept well informed about the when, where and why of the necessary changes and seek tailored/appropriate consulting, then any negative impacts could possibly be offset by outlining the longer-term benefits to Australia’s future generations.

MYTH #4 countless job losses To switch to sustainable power, including wind, solar and potentially nuclear, one first need to create the necessary infrastructure. This includes determining potential power sites, setting up the transmission systems, building the wind and solar farms, and connecting them with the grid. This is a massive undertaking, creating many more new jobs in advance of any impacts on the mines.

MYTH #5 unreliable energy A seamless transition towards sustainable energy is possible with meticulous planning and as technologies advance. The chance of disruption could be minimised if there is a clearly defined strategy, supported by well-coordinated implementation. Most importantly, the transition strategy should include timely, concise communications explaining to stakeholders when the plants concerned are scheduled to be shut down, and when and where more sustainable power sources will become available. Energy providers should also develop back-up plans in the event of major disruptions, such as unscheduled outages, accidents and other “worst case” scenarios.

It’s time to say yes, we are ready!

Governments often use the excuse that “the economy will not survive, or business is not ready” for the transition to renewable energy, however Richard Lancaster urges that it is time for individuals and business to say yes, we are ready. This important and necessary undertaking may involve risks, but with careful planning we will be in a better position to manage and adapt.

AustCham urges businesses, governments and industry to rise to the challenge and agree on an actionable strategy and timeline on carbon emission reduction for Australia with utmost urgency.

Don’t miss our next speaker in the CLP Towards a Sustainable Future series. On 7th May we will hear from Dr Geraldine Buckingham, Senior Managing Director, Chair and Head of Asia Pacific at Black Page 13 images from AustCham’s CLP Towards a Sustainable Future series launch event Page 10, 12, 15 images courtesy of CLP

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Introducing Shannon Powell Senior Trade and Investment Commissioner

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e welcome Shannon Powell to Hong Kong, who commenced as Senior Trade and Investment Commissioner Hong Kong and Macau in January. We look forward to our engagement with Shannon and together strengthening the Australia-Hong Kong trade and investment relationship.

From 2015-2019, Shannon was the Senior Trade and Investment Commissioner for Andean Latin America, leading a team of 20 staff across Chile, Argentina, Colombia and Peru, based in Santiago. Her work focused on the promotion of Australian trade and education exports and managing commercial relationships and issues within a growing bilateral relationship.

Shannon started her career in law, working within large Australian law firms before joining an Australian non-profit organisation, The Global Foundation where she led domestic and global teams facilitating trade and investment and policy development in the areas of mining, renewable energy, financial services, education, agribusiness and manufacturing. Prior to joining Austrade, she was Director of her own consultancy company, with clients across Australia, Brazil and the United States specialising in governance, leadership, community engagement and communications for large organisations. Shannon continues to sit on the Advisory Board of The Global Foundation.

Shannon holds a Bachelor of Law (Hons.) and Bachelor of Commerce from Deakin University and speaks Portuguese and Spanish.

AustCham Hong Kong welcomed Shannon on her first day in Hong Kong as Senior Trade and Investment Commissioner at the recent Towards a Sustainable Future series launch. Shannon is pictured (right) with CLP's Austin Bryan.

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(From left) the Australian Consul-General to Hong Kong and Macau, Ms Michaela Browning; Mr Yau; chief negotiator of the FTA and Investment Agreement negotiations of Australia, Ms Elizabeth Ward; the Australian Minster for Trade, Tourism and Investment, Mr Simon Birmingham; and Director of Hong Kong Economic and Trade Office, Sydney, Mr Raymond Fan.

New Heights for Australia and Hong Kong

By Edward Yau, Secretary for Commerce and Economic Development, HKSAR Government

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t gives me great pleasure to author this article in the first edition of this year’s AustCham News, as January 2020 marks a special time for Hong Kong and Australia’s bilateral trade relationship: The Hong Kong-Australia Free Trade Agreement (FTA) and Investment Agreement (IA) came into effect on 17 January.

I cannot emphasise enough my deep appreciation of the Australian Chamber’s sustained efforts in fostering exchanges and forging ties between the local and Australian business communities by providing a great platform for all to get connected. I would continue to rely on this important platform to inter-alia promote the tremendous business opportunities brought about by the coming into force of the Hong Kong-Australia FTA and IA. Indeed, Hong Kong and Australia have always enjoyed harmonious bilateral trade relations, and we value Australia 18 • February 2020

as an important trading partner especially in the Asia-Pacific region. In 2017, Australia was Hong Kong’s 7th largest services trading partner, with total trade between the two sides amounting to HK$44 billion. Among the top three services sectors, travel services is one of our main trading areas. This is not only a testimony to our strong trade relations, it also bears out the close people-to-people ties between the two places, as Australia has always been one of Hong Kong people’s favourite travel destinations. As for merchandise trade, Australia was Hong Kong’s 20th largest partner in 2018, with nearly 40% of the trade contributed by trades in agricultural and fishery products such as meat, seafood, and dairy products, which are Hong Kong people’s all-time favourites.

Underpinning our close trading relations is the common aspiration of Hong Kong and Australia in the pursuit of a free and open trade regime. We are strong advocates and

staunch supporters of a rule-based and predictable trading system. To this end, both sides have joined hands to fortify our efforts in both regional and multilateral fora. With the expeditious actions of the Australian Government in its ratification work, for which we are very grateful, the Hong Kong-Australia FTA and IA have come into force. The two Agreements mark an important milestone in the evergrowing bilateral trade relations between the two sides.

They are manifestation of our mutual commitments to further promoting free and open trade against the prevailing uncertainties in the global economic environment and the headwind of rising protectionism.

Businesses and professionals of both sides stand to benefit from the comprehensive coverage of the FTA and the high quality commitments therein. For example, exporters and manufacturers of originating products of Hong Kong or Australia can now enjoy tariff-free treatment; and service providers in a wide spectrum of services sectors will enjoy better business opportunities brought by the legal certainty

in market access embodied in the FTA and IA. The FTA further includes other commitments to facilitate trade in services, such as tariff-free undertaking for all electronic transmissions. Likewise in the area of investment, investors can benefit from the more favourable market access and treatment of investments under the FTA, while enjoying comprehensive protection of their investments provided by the IA. We have been embarking on promotional events for the Agreements to encourage traders and investors to make good use of the two new platforms to capitalise on the untapped business opportunities and further expand their businesses in the respective regions. I am confident that the bilateral trade relations between Hong Kong and Australia will be brought to new heights.

I would like to take this opportunity to wish you all a prosperous and happy Year of the Rat.

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25 Years of History in The Making - By the Australian International School Hong Kong 2020 marks the 25th Anniversary of Australian International School Hong Kong. AISHK is today recognised as one of the leading international schools in Hong Kong and one of the most successful Australian schools offshore. Founded with a vision, tireless work and support of so many, including AustCham Hong Kong, we invite you to join us on a trip down memory lane – from the early days of our school to where we are today.

1996 AISHK moves to Kowloon Tong, previously the St. George’s school, sharing the site with the Canadian Overseas International School, from 1997 to 1998.

1997 Aus tr alian Inte r national S chool Foundation Limited, the governing body for AISHK, is granted a parcel of land (around 6,000 square metres) for a new campus in Kowloon Tong.

1999 Malcolm Turnbull at AISHK in 2017

1994 In mid-1994, the concept of an Aus tr alian Inte r national S chool Hong Kong began to blossom. Brian Davies, who would go on to become Founding Principal, had a vision for a “not-for-profit” school offering an Australian education alternative to the community. Like all good ideas, there were challenges. Questions needed answering, not least surrounding where funding, students, teachers, campus, books and curriculum would come from to bring this dream to fruition.

Brian and Meena Blesing (then based in Sydney) presented their ideas to Philip Day and Alfred Croucher (both then of the Australian Chamber of Commerce in Hong Kong).

Led by then Chair of AustCham, Philip Day, a group of like-minded men and

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women, affectionately termed “The Magnificent Seven” guided this project to fruition. They were Brian Davies (previously of Chinese International School and Canadian International School), Meena Blesing, Dr Jocelyn Chey (Australian Consul-General), Joseph Kwan (The Federation of Australian Alumni Associations Hong Kong), Tom Corkhill (Australian Association of Hong Kong) and Terence Ma (The Australian Chinese Association of Hong Kong).

1995 The School is incorporated and AISHK’s doors open for the first time to 25 students in Boundary Street, Kowloon Tong. Later this year, AISHK moves to the Gun Club School in Tsim Sha Tsui.

During construction, AISHK makes its final temporary move, to Tonkin Street, Cheung Sha Wan. The School’s first group of Year 10 students are awarded their NSW School Certificate.

2001 The school’s new permanent home in Kowloon Tong opens its doors on 4 September, with over 500 students.

This year, the School’s first Year 12 class prepared to sit for the NSW Higher School Certificate.

2005 A I S H K’s 10 th A nni ve r s a r y w a s celebrated with the Welcome BBQ, made all the more memorable with a visit by none other than Mr Jackie Chan himself. AISHK was granted authorisation to offer the International Baccalaureate Diploma Program (IBDP) in September, with the first group of graduate IBDP students completing their studies at the end of 2007.

2017 On Sunday 12 November, then Prime Minister of Australia, The Hon. Malcolm Turnbull MP arrived to a lively and warm welcome by some 900 community members when he visited AISHK in an event, co-hosted with the Australian Consulate (pictured left).

Today 25 years later, in its home address of 3A Norfolk Rd, Kowloon Tong, AISHK continues to thrive, welcoming 1,10 0 s tudent s representing 25 different nationalities. AISHK is the only school in Hong Kong to offer the Australian Curriculum and International Baccalaureate Diploma, providing seamless pathways to universities in Australia and around the globe. Â

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Greater Bay Area

Keys to success in the Greater Bay Area

T

he Greater Bay Area (GBA) initiative is an ambitious scheme to link the nine cities in Guangdong’s Pearl River Delta, Hong Kong and Macau into an integrated economy and world-class business hub.

Leveraging each city’s individual strengths, the project will oversee improved transport infrastructure, the creation of an international innovation and technology centre, and the development of a globally competitive modern industrial system, while promoting the free flow of people, goods, capital and information within the region.

The main focus of development between now and 2022 will be increasing cooperation between the GBA cities through improving infrastructure and having each city adopt a complementary role. To leverage the existing strengths of the four core cities of Hong Kong, Macau, Shenzhen and Guangzhou, each city has been assigned focus areas: Hong Kong will act as an international financial, transportation and trade centre, developing its role as an aviation hub, offshore renminbi centre and international asset management and risk management centre. It will also be involved in the development of innovation and technology industries, and act as a centre for international legal and dispute resolution services.

22 • February 2020

Shenzhen will leverage on its status as a special economic zone and innovation city to become a global innovation and creativity hub.

Macau will focus on tourism and leisure, as well as acting as a trade platform between China and Lusophone countries.

Guangzhou will build on its current function as a national core city, and act as an international commerce and industry centre and integrated transport hub in the GBA. In addition, an industrial belt for advanced equipment manufacturing will be developed on the west bank of the Pearl River, centred around the cities of Zhuhai and Foshan. A cluster of high-end manufacturing industries, such as electronic communications, will be located on the east bank with Shenzhen and Dongguan at its core.

Sector highlights The greatest opportunities are likely in technology and innovation and financial services, particularly sustainable finance. The GBA initiative also places a strong focus trade & logistics and the environment, with a particular emphasis on ecological conservation and green and low-carbon development models.

Terence Chiu, Head of Commercial Banking, Hong Kong, HSBC, notes there are opportunities for different businesses as the region expands and disposable income grows. “The scale of the Greater Bay Area initiatives, the increased connectivity and the region’s growing population will create opportunities for different sized companies across a range of sectors. The clustering of talents, capital and industries will drive high valueadded productions and business developments.”

To attract talent from Hong Kong and overseas, there are subsidies to offset higher individual income tax rates and customs reforms as well as measures to facilitate Hong Kong residents’ purchase of property in the nine mainland cities.

Ayesha Lau, Managing Partner, Hong Kong, KPMG China, says: “To fully capitalise on the opportunities the GBA offers, it is important that businesses put in place the right strategy and adopt a GBA mindset. This involves factoring in the increased connectivity and flow of goods, services, talent and information, and embracing the region holistically. It is tantamount to economic globalisation at a local level,” she says.

With the economy expected to grow faster than the rest of mainland China within the next three years, gaining access to the GBA market of more than 71 million is a key motivation for companies to invest in the region.

Pang-Chun Yu, Convenor of the GBA Working Group, HKGCC, concludes: “Despite the keys to success in the Greater Bay Area, regulatory differences that still exist, we urge companies not to delay entering the GBA market. Instead, they should proactively identify the key tax policies and incentives that impact their industry, as well as look at the key development priorities of each city within the GBA, so that they can select the one that best fits their profile.”

Reproduced from KPMG, HSBC & HKGCC Keys to success in the Greater Bay Area

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The Power of a Multigenerational Workforce - By Fyiona Yong, Director, Wholistic Coachsulting

E

mbarking on the digital transformation journey can be challenging. When you add the multigenerational aspects of your team into the mix, the transformation can seem even more daunting.

With younger generations continuing to enter the workforce and older ones staying longer, the bridge between the preferences and habits of your team will continue to expand. It’s unprecedented, for the first time in modern history, our workforce consists of four different generations working side by side - and the differences among them are one of the greatest challenges managers need to face today.

We should recognise that belonging to a specific generational cohort is not one-dimensional. What is defined as “generation” can be influenced by the individuals’ life phase, other life events and experiences as well as tenure organisation. Creating an inclusive multi-

generational workforce will be integral to business success.

While every individual is different, generations have similar preferences and characteristics because they share similar experiences during the same life stages.

Different generations often work and use technology differently. But there is no right or wrong way—only the method that works best for each individual in the performance of his or her job. Accepting the fact that there are differences, then educating employees about those differences, and respecting, recognizing, and playing to each generation’s strengths, validate each worker’s value and enhances the quality of work and collaborative team spirit.

Comparing generations is an easy way to create arguments and sometimes unconscious biases get in the way of successful cross-generational collaboration.

But are we really all so different?

My preference is to harness the common traits rather than focus on the generational differences. I believe there are generational commonalities in relation to meaningful work: • We all want to feel empowered, respected and trusted • We all want to contribute to business success • We all have similar values - we just define these differently There are four key success factors for driving a multigenerational team 1. A Culture of Inclusion Intentionally building a culture that values and includes employees’ knowledge, strengths, and experience will help all employees feel happier at work and will help you move your company’s mission forward. This could mean making more conscious decisions to involve Baby Boomers or Gen X-ers in projects that may typically be taken over by their more outspoken Millennial counterparts.

Why not pair mature with young generation colleagues on projects where experience and skillsets complement each other?

2. Acknowledging Differences Managers need to openly address differences and stereotypes to avoid unconscious biases when it comes to generations. It’s important to have a platform for sharing and to understand that there is more that connects us even though we are from different generations. Even if you belong to the same generational cohort, you are still a unique individual shaped by

24 • February 2020

your upbringing, culture and current life phase.

3. Embracing Thoughtful Transparency Millennials love transparency. In fact, who doesn’t? Leaders have to be more transparent, consistent and regular with their communication especially when it comes to business decisions and changes that impact the individuals’ role. Managing ambiguity and uncertainty is a key leadership attribute that will require focus.

4. Promoting peer-to-peer learning In addition to traditional mentoring programs that involve older, more experienced employees passing on insights to their juniors, peerto-peer learning programs can promote respect, understanding and collaboration across teams and generations. Perhaps “mutual mentoring” should become the norm.

fear of negative consequences will be the key to continuously innovate and stay relevant for the consumers of your products and services.

Legendary management consultant, Peter Drucker, was absolutely spot on when he coined the phrase: “Culture eats Strategy for Breakfast.”

Fyiona Yong as guest panellist at AustCham's recent event, Technology and the Future of Work

Great leaders recognise the value and expertise a multigenerational workforce brings, encouraging all employees to respect other work styles and to actively seek to learn from each other.

When leaders respect generational differences and embrace diversity and inclusion, they will surely see improvements in productivity and job satisfaction. Every employee brings unique insights and knowledge to the table. So it’s a win for everyone.

Digital Transformation might be the reason for change in your organization now, but most importantly it’s another change and change management requires a strong corporate culture and a growth mindset, transparent and consistent communication and leaders who are willing to listen and incorporate their team’s ideas and concerns.

Businesses will continue to evolve, so creating a work environment where people feel free to speak up without ISSUE 213 • 25

Building Asia Capability The AustCham Intern Program is flagship program of the Chamber. Aiming to build Asia capability in our future industries, the Program connects Australia’s brightest university students with AustCham member companies through valuable international internship experiences. AustCham ensures a streamlined end-to-end service for both students and host companies, providing exceptional learning and development for the students, and enhancement to existing recruitment for host organisations. We put the spotlight on a recent host and intern from the 2019 winter intake.

Matthew McKenzie, General Marketing Manager-Bright Food Asia Ltd.

Alice Kumar, Master of Business, International Business

I

M

t was a pleasure hosting Alice Kumar at Bright Foods Asia over November and December. Whilst exposing Alice to various areas of our business, it was just as valuable for me to listen to her perspective on how we approach some of the day to day challenges in our business. I feel that not only did we contribute to Alice’s learning, but we received a lot of insight in return, which will be applied to our future operations. We look for ward to hosting more Australian students in the future and being an ongoing participant in the program in partnership with AustCham Hong Kong.

y internship was an enriching experience and I really valued gaining practical insights into the Asian work environment. I am very grateful to have had Matthew as my supervisor who was an exceptional guide. I have gained a lot of knowledge and practical tactics out of this internship experience, but of course, the meeting with the Japanese client is the highlight. I was witness to a highly sophisticated business meeting and learnt a lot from it. Matthew was constantly involving me in different ongoing projects and his efforts to make the internship an all-rounded enriching experience for me were beyond amazing. He assured I received vast exposure to the company and key markets.

AustCham has been a constant companion in the journey from Brisbane to Hong Kong - matching the perfect placement, taking care of visa applications, preparing for interviews and introducing us to Hong Kong culture. AustCham’s in-country support and services were remarkable and included two full days of orientation and a series of events including government and company talks. Going global was one of the best decisions I have ever made and with the companionship of AustCham, I am proud to have achieved an international internship through the Griffith University’s Global Mobility Program.

Other highlights: • The warm welcome by AustCham with airport pick-up, pre-loaded Octopus card and mobile sim • Delicious dim sum lunch and scavenger hunt across all of Hong Kong (complete fun!)

• Sessions by Austrade, Trade and Investment Queensland and industry leaders

Visit our website for more information about the AustCham Hong Kong Intern Program or contact julian.finlayson@austcham.com.hk ISSUE 213 • 27

Mentor Program

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he AustCham UOW Mentor Program kicked off 2020 Sponsor: with a session on EQ and working across cultures.

Facilitated by Deirdre Lander (Willis Towers Watson) mentors and mentees took part in interactive activities designed to bring about self-awareness. Mentors and mentees explored their own personality traits and how they perform best in the workplace, as well as how cultures can impact the way people may think and interact in the workplace and society.

Financial support for SMEs

B

ank of China (Hong Kong) is offering a new flexible lending scheme for SMEs. The SME Financing Guarantee Scheme aims to help non-listed SMEs receive financing to facilitate business growth and spur productivity and competitiveness. Under the Scheme launched by the HKMC Insurance Limited, eligible SMEs may receive a loan guarantee of 50% to 90%. The Bank of China (Hong Kong) is committed to further supporting successful applications by offering waived handling charges and account opening fees, guaranteed fee subsidisation, deferred principal repayment and more.

For more information visit:

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Emerging leaders unite in Guangzhou - By Han Tang, Intern, AustCham Hong Kong

E

ach year the Australia-China Emerging Leaders Summit (ACELS) unites a new generation of leaders, educating delegates on the contemporary AustraliaChina landscape and fostering lasting connections. In its tenth year running, ACELS, sponsored by the Department of Foreign Affairs and Trade, was held for the first time in South China, in Guangzhou. The four day conference saw 90 delegates come together from Australia and China for discussions lead by several key note speakers including Australian Deputy Consul-General to Guangzhou, Chris Halford and Consul, Geoff Matthews.

ACELS educate students on the contemporary AustraliaChina landscape, and foster lasting people-to-people connections. The theme in focus was 2020 Vision: Ushering in a New Decade of Australia-China Relations. Guangzhou was the ideal location for the conference, given its status as a tech hub, its proximity to Hong Kong and significance in the Greater Bay Area (GBA).

Han (right) at ACELS

Delegates and industry leaders discussed topics that included; charting the future of the Australia-China relationship, disruptors in education, technology and innovation, trade and investment in the GBA and the role of arts and culture. Panelists and speakers included experts and leaders and represented private and public sectors across various industries. Key points were thoroughly discussed, including cultural and educational differences between the two regions, the development of the GBA’s prominence and the role media plays in shaping the relationship. During panel discussions, challenging questions were posed to the experts, regarding the changing role government institutions have in country relations, changing perceptions about both regions, and how Australia should engage with the GBA to form a mutually beneficial relationship.

Key takeaways from the conference ensured that even with the uncertainty of the future, the strength of the Australia-China relationship will be influenced by individuals, organisations and government institutions.

Mutual understanding and respect for cultural similarities and differences will be vital for the relationship to flourish, which can begin with a simple conversation and an open mind. It is up to us as individuals and business leaders to strengthen the relationship so both regions can prosper.

ACELS is a yearly conference run by the Australia-China Youth Association (ACYA), an organisation aimed to facilitate and develop bilateral relationships between Australia and China.

Images courtesy of ACYA National

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The Fullerton Hotel Sydney Debuts at No.1 Martin Place a combined stonemasonry experience of 334 years, to carry out a 38,000-hour laborious, chemical-free cleaning process to restore the building’s façades to its former glory.

"We are committed to conserving the Sydney GPO building for the enjoyment of generations to come; and the heritage façade revitalisation programme is just the first step in a multi-phase revitalisation programme. We encourage our guests to embark on memorable journeys that are deeper, more colourful and more rewarding when they stay in our landmark luxury hotels that are destinations unto themselves," says Cavaliere Giovanni Viterale, General Manager of The Fullerton Hotels and Resorts.

S

ince the 19th century, Sydney’s General Post Office (GPO) building has played a central role in the city’s development. Today, the heritage-listed landmark, completed in 1866, has become home to The Fullerton Hotel Sydney, seamlessly blending culture, timeless elegance and contemporary hospitality at the heart of the vibrant Australian city.

Opening special offer To celebrate the opening, guests booking a stay at The Fullerton Hotel Sydney, a Preferred Hotels & Resorts Legend Collection partner, will enjoy special launch benefits including an AUD50 dining credit and triple points from the I Prefer Hotel Rewards programme. The offer is valid until 17 March 2020.

Debuted on 18 October last year, The Fullerton Hotel Sydney breathes new life into the much-loved landmark at No. 1 Martin Place. It is the latest addition to growing portfolio of The Fullerton Hotels and Resorts under Sino Group.

Dedicated to preserving the integrity of the heritage building and its stories, The Fullerton Hotels and Resorts strives to retain and restore the fine façades, sculptures and motifs.

It has engaged Stone Mason & Artist, an expert team with

Fundraising for Bushfire Relief Earlier this month Castelo Concepts held a community fundraiser at Wagyu Restaurant raising funds for the AustCham HK Bushfire Appeal. The generosity and strength of the Hong Kong and overseas Australian community showed throughout the Sunday afternoon event, with over HKD100,000 worth of lucky draw prizes won, donated by various local and Australian businesses. To read more about the AustCham HK Bushfire Appeal and the extraordinary support from the Hong Kong community to Australian bushfire relief efforts, see page 36 (back cover).

30 • February 2020

Find out more:

New Tax Changes on your Australian Home IN BRIEF • The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 received Royal Assent on 12 December 2019.

• Foreign residents can generally no longer claim the CGT main residence exemption upon disposal.

• CPA Australia engaged with government, Treasury and the media throughout the process to raise concerns about the Bill.

SUMMARY OF CHANGES The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Act 2019 is now in force. The Act removes the main residence exemption for foreign residents for tax purposes, except where: • you have been a foreign resident for tax purposes for a continuous period of six years or less, and during the time one of the following occurred: • you, your spouse, or your child under 18, had a terminal medical condition • your spouse, or your child under 18, died • the CGT event involved the distribution of assets between you and your spouse as a result of your divorce, separation or similar maintenance agreements.

If you are a foreign resident for tax purposes when you die, the changes also apply to: • legal personal representatives, trustees and beneficiaries of deceased estates • surviving joint tenants • special disability trusts.

TRANSITIONAL MEASURES FOR PROPERTIES PURCHASED PRIOR TO 9 MAY 2017 Transitional measures mean that there are different treatments until 30 June 2020 depending on the property acquisition date.

Property acquisition date

Treatment

Prior 7:30pm (AEST) on 9 May 2017

CGT main residence exemption can be claimed for disposals that occur until 30 June 2020 and they meet the other requirements for the exemption.*

On or after 7:30pm (AEST) on 9 May 2017

CGT main residence exemption on longer applies to disposables.*

* That certain life events occur within a continuous period of six years of the individual becoming a foreign resident for tax purposes.

The Australian Taxation Office (ATO) has published general guidance on the changes.

Don't miss our webinar on these tax changes AustCham Hong Kong will be holding a webinar on these changes for members on Wednesday 13 February with moderator Darren Bowdern, KPMG China, Head of Financial Servces, Tax, and panelists Lucy Zheng, Financial Planner and Anthony Burling, Chartered Accountant.

This event is free of charge to AustCham Hong Kong members. Register online here:

CPA AUSTRALIA ADVOCACY CPA Australia undertook a range of initiatives seeking to modify the Bill to provide more equitable outcomes for Australian citizens who become foreign residents for tax purposes.

We were not supportive of legislation that imposes significant capital gains tax liabilities on those who have been Australian tax residents for most of their property ownership period and who, but for becoming a foreign resident for tax purposes, would have access to a partial or full main residence exemption.

Our advocacy ac tivities included submissions to the Senate Standing Committee on Economics (March 2018) and the Treasurer (October 2018). We also included the issue in our pre-Budget submission 2019-20 (February 2019).

Our engagement work was undertaken in conjunction with other professional accounting and tax associations, and included ongoing discussions with public officials and policy advisers.

We will continue to gather member feedback about the impacts of the changes and provide this to Treasury and the ATO as part of ongoing consultation.

Contact policy.advocacy@cpaaustralia. com.au to provide your views.

Policy bulletin from CPA Australia published on 7 January 2020

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New Members Platinum Patron

Ovolo Group Tim Alpe

Knight Frank Billy Wee Sarah Li

ANZ Aaron Chan Juliana Lim Lorraine Hirano

St. James's Place Wealth Management Emily Chung Rafaello Araya

KPMG Rodney Chen

Arcadis Anthony Leigh

Leighton Asia Francesco Tizzani John Moss

Aurecon Hong Kong Limited Brad Sandford

Fung Group Anna Tehan HSBC Lisa Cameron

Black Diamondz Jad Khattar

Corporate Patron Austrade Shannon Powell Australian Consulate-General Ryan Neelam

Individual Member Bank For International Settlements Derryl D' Silva

Corporate Member

Telstra David Newhouse Thomas Edmunds

Uber Asia Limited Richard Willder

SFairhurst Advisory Sarah Fairhurst

HSBC Russell Roberts

Wyatt International Trading Limited Alastair Valpy

Moelis Australia Limited Alan Reid

Young Executive Avenue Capital Group James Sue

OT&P Healthcare Ben Carton

King & Wood Mallesons Charlie Bruce

Mates Rates: Special Offers for Members AustCham Members enjoy year-round benefits from our member companies.This is an excellent opportunity to showcase your company's products & services. By presenting our membership e-card or quoting your member ID at the time of booking, AustCham members can enjoy offers on dining, travel, retail and more.

Card

Membership e

Access your E-card by logging into the Member Portal, download the e-card and save it on your phone.

Latest Mates Rates Separate terms & conditions apply to each offer and are determined by offering party.

15% off on all a la carte dining

20% discount on Food & Beverage at Hyatt Centric Hong Kong

15% discount at Island Shangri-La,Hong Kong

15% off at Cucina, Cafe Marco, Three on Canton and add@Prince

20% discount on Ovolo's best available rates!

FREE One-year Subscription to Expat Living magazine!* (usual price $288)

32 • February 2020

Preferential Exchange Rates Enjoy $0* OFX fees on ALL transfers

HONG KONG Mojo Nomad Central Mojo Nomad Aberdeen Harbour Ovolo Central Ovolo Southside

AUSTRALIA Ovolo 1888 Darling Harbour Ovolo Wolloomooloo Ovolo Laneways Ovolo The Valley Ovolo Inchcolm

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 (AIEF) was established in 2008 in response to community demand from Indigenous families who choose to enrol their children in boarding schools.

Bringing together the government and private sector, AIEF provides scholarship funding for Indigenous students to complete Year 12 or tertiary studies, with career support to help them make a successful transition to their chosen fields.

Backed by some of Australia’s most influential business and community leaders, AIEF has grown from one scholarship student in 2008 to now having around 450 students on scholarships annually, with a network of over 600 alumni and growing by over 70 graduates each year, from over 400 communities in every state and territory of Australia.

www.aief.com.au

The Fred Hollows Foundation is a leading Australian charity inspired by the work of the late Professor Fred Hollows. Fred was an eye doctor, renowned surgeon and highly respected Australian dedicated to ending avoidable blindness in developing countries.

Our vision is a world in which no one is needlessly bling. 4 out of 5 people that are blind don’t need to be. We work in 25 countries, and have restored sight to more than 2.5 million people.

The Foundation’s Hong Kong office aims to reach the increasing number of needlessly blind in the Asia region, especially in mainland China, where 20% of the world’s blind live.

www.hollows.org/hk/home

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

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 in the territory. They believe that youths are the key for Hong Kong to continue to be a leading, growing community, but saw that not all children had the same opportunity.

The Hub was founded as a commitment to help children in disadvantaged circumstances and to give the opportunity to find a better environment to develop into contributing members of the community.

www.thehubhk.org

ISSUE 213 • 33

The Season for Giving

2

019 year ended especially festive with AustCham handing out gifts from The Giving Tree to some of Hong Kong’s neediest children at The Hub’s Christmas party. Games and dance performances were all part of the festive fun at The Hub, one of AustCham’s CSR partners, with the main event the giving out of gifts donated by members and friends of the Chamber. The children at The Hub were exceptionally excited and grateful and we extend our gratitude to AML Analytics, the FinTech Association of Hong Kong and all who shared their generosity, sparking smiles all-round.

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