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A Publication of The Canadian Chamber of Commerce in Hong Kong


Chairman’s Message

“The Chamber’s role generally is to provide a forum for connecting business and opportunities.”

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he past few months have been volatile for markets. One of the key uncertainties has been how smoothly will China’s economy move from being the world’s factory to become a balanced, more domestic consumer-driven economy and at what speed. While the answers to this question are varied, what is clear are the commercial opportunities which this transition presents to both existing CanCham members and to businesses only now reaching out from their Canadian base, many of whom attended the recent ‘Think Asia, Think Hong Kong’ Symposium held this June in Toronto. While Canada has a well-deserved reputation as an efficient producer of commodities and related upstream products, its service-oriented economy has also encouraged the growth of dynamic service businesses. Cavalia’s recent sold-out performances in Hong Kong and Shanghai were testament to Canada’s unique contribution to the entertainment business. This issue of EXCHANGE features an interview with the entrepreneur behind the spectacle, Norman Latourelle who spoke at the Chamber in May. Canada’s potential for tourism, that other great service ‘export’ is considerable. Discover for yourself by taking a trip from Vancouver on the Rocky Mountaineer, a seven-time winner of the ‘World’s Leading Travel Experience by Train’ – as chronicled in the pages which follow. Canadian technology is also making continued inroads internationally. Closer to the start-up phase, Nanoleaf’s co-founder Christian Yan shares his experience about ‘The Challenges and Successes of Setting Up and Doing Business in Hong Kong’. In late November, the Chamber’s Entrepreneur and Small Business Committee will co-host with the Hong Kong Canada Business Association (HKCBA), the ‘Second TransPacific Entrepreneurial Conference’ with delegates attending from the eight chapters of HKCBA across Canada and from Hong Kong. More information and sign-up details are available via the Chamber’s website: www.cancham.org.

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The Chamber’s role generally is to provide a forum for connecting businesses and opportunities. By participating in a strong, connected ‘learning’ community, we stand better chances of achieving sustained commercial and professional success. In this issue of EXCHANGE, Wayne Lee, CIBC’s Head of Asia Pacific and a member of the Chamber’s Executive Committee and Dr. Sarah Borwein, a co-founder of The Central Health Group offer their perspectives on succeeding in the demanding environment of Hong Kong and well beyond. Generally, EXCHANGE brings you information on happenings at the Chamber and among our members. Read about methanol from member, Methanex Corporation which is the world’s largest methanol producer and supplier as well as the other Member companies contributions. Finally, we are also pleased to welcome all of our new members please join me in ensuring that they are integrated well into our community. We are a member-driven community, and your contribution to the Chamber in varied forms, whether in business forums or community and social events such as the upcoming ‘Terry Fox Run Hong Kong’ in early November and the ‘Sun Life Canadian Golf Tournament 2015’ later in the month is what makes our community both strong and vigourous. Enjoy EXCHANGE – send us your thoughts.

John R Witt Chairman The Canadian Chamber of Commerce in Hong Kong


Volume15 Oct 2015

CONTENTS 02

Chairman’s Message

04

The Chamber Committee Updates

Platinum Corporate Sponsors

06 Young Professionals Committee: Securing Asia’s Future Business and Education Combine to Grow Future Leaders 08 Technology Committee: It’s Really About People 09 Sustainable Development Committee: Our New Initiatives 10 China Business Committee: China Series 2015

Advocacy 12 Hong Kong Competition Ordinance in a Nutshell – What is it all about?

Adventures of Working Abroad in Hong Kong 14 Interview with Dr. Sarah Borwein, Managing Partner, Central Health Medical Practice 15 Interview with Wayne Lee, Managing Director and Head of Asia Pacific Region, CIBC

Sharing Experience and Success: Leadership Column 16 Special Feature: Cavalia – The Entrepreneurial Journey of Normand Latourelle

Focus on Members 22 Methanex Asia Pacific Ltd: Promoting Methanex as a Clean Fuel 24 PwC’s Strengthening Donor Communications Programme Shows Charities Why Measuring Social Impact Matters 26 WWF – Hong Kong: Fulfilling Our Corporate Social Responsibility – It Can Be Achieved! 28 Koehler Group: Shanghai Free-Trade Zone, Guangdong Free-Trade Zone and Hong Kong-Competitors or Allies?

Leisure Gold Corporate Sponsors

30 Canada’s Rocky Mountaineer: World’s Top Rail Journey

Community 32 Hong Kong, A Bridge for China to Investment Opportunities in Canada – HKTDC 34 The Challenges and Successes of Setting Up and Doing Business in Hong Kong – Nanoleaf

Professional Development 36 David Goldsmith: Believing and Achieving to Win in any Economic Environment

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Event Highlights

42

Welcome New Members


The Chamber Executive Committee John R Witt

Governors’ Counol Daisy Ho Head of Governors’ Council

Chairman

Brian Lau

Vice Chairman–Internal

Jennifer Chua

Vice Chairman–External

Irene Chu

Secretary

Allan Zeman

Mati Pouliot

Treasurer

Andrew Turczyniak

J. Ian Burchett Allan Matheson

Adam Khemiri

Bernard Pouliot

Barrett Bingley

Bruce Hicks

Chris Roberge

David Armitage

Don Roberts Fabien Jeudy

David Kong David M Nesbitt David McMaster

Gina Hudel

Dr. Eliza C. H. Chan

Guy Cloutier

Dr. Janet De Silva

Hendrik Rosenthal

Dr. Patrick Y.B. Fung

Henri Arslanian

Dr. William Yip

Jean-Baptiste Roy

Dr. William W.H. Doo

Lynn McDonald Lawrence Nutting

Elizabeth L. Thomson Joe Ng John Cheh

Michael Nardella

John W. Crawford

Michael Yong-Haron

Lawrence Ho

Richard Brown

Lincoln K.K. Leong

Vanessa Ma

Michael Y.K. Chan

Victor Yang

Patrick Lam

Wai Ho Wong Wayne Lee

Raymond Chow Richard Siemens Robert Cook

Wendy Tong-Barnes

Stephen Chu

William Said

Victor Apps

Honorary Head of Governors’ Council

The Secretariat Philip Leung President email : philip_leung@cancham.org phone : 2110 8728 Carol Chan Operations & Finance Manager email : carol_chan@cancham.org phone : 2110 8708 Sarah Wai Administrative Assistant email : sarah_wai@cancham.org phone : 2110 8700 Janice Ip Events Manager email : janice.ip@cancham.org phone : 3695 5021 Katrine Cheng Deputy Events Manager email : katrine_cheng@cancham.org phone : 2110 8738 Sarah Cheng Communications Manager email : sarah_cheng@cancham.org phone : 2110 8711 Barbara Mok Membership Service Manager email : barbara_mok@cancham.org phone : 2110 8718 Janice Hon Membership Manager email : janice_hon@cancham.org phone : 2110 8722

Volume 15, Oct 2015

Published by Editorial Board Madeleine Behan (Chair) Philip Leung Carol Chan Sarah Wai (Editorial Assistant) Advertising Contact Carol Chan (carol.chan@cancham.org) Sarah Cheng (sarah_cheng@cancham.org) Project Management Meipo Yeung Design and Layout Sarah Cheng Sarah Wai Winnie Li Lilian Yu Steve Mok Fok Lui

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Jointly Published by The Canadian Chamber of Commerce in Hong Kong Suite 1301 Kinwick Centre 32 Hollywood Road, Central, Hong Kong Tel: 2110 8700 Fax: 2110 8701 www.cancham.org Speedflex Medianet Ltd 1/F, Hua Qin International Building 340 Queen’s Road, Central, Hong Kong Tel: 2542 2780 Fax: 2542 3733 Email: info@speedflex.com.hk Photo by: (c)2007 Derek Ramsey (Ram-Man) (Self-photographed). [Licensed under GFDL 1.2 (http:// www.gnu.org/licenses/ old-licenses/fdl-1.2.html)], via Wikimedia Commons

Claims, statements and assertions made by advertisers are the responsibility of the advertisers. The Canadian Chamber of Commerce in Hong Kong and Speedflex disclaim all responsibility and liability in connection with the content of any advertisement appearing in this publication. Canada Hong Kong Exchange is published in every four months. The opinions expressed in this publication are not necessarily the opinions of the publishers. All published material is copyright protected. No parts of Canadian Hong Kong Exchange may be reprinted or reproduced without the written permission of the publishers. Canada Hong Kong Exchange welcomes letters to the editor sent via email to canada@cancham.org. Submissions must include the author’s full name, address and daytime contact numbers. The Canada Hong Kong Exchange reserves the right to edit letters for length and clarity.


Committee Updates

Securing Asia’s Future Business and Education Combine to Grow Future Leaders

HKUST MBA has been ranked in the world’s top 15 by the Financial Times for 6 consecutive years.

Asia has overtaken Europe as the world’s second wealthiest region and will surpass North America next year, according to the Boston Consulting Group’s 2015 Global Wealth Report. Facing rapid change and blossoming opportunities in the region, the Canadian Chamber of Commerce in Hong Kong (“the Chamber”) and HKUST Business School share a common goal of developing the next generation of global leaders to transform Asia. By HKUST

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n January this year, the Chamber and HKUST Business School collaborated for the first time to offer young professionals from the Chamber a seminar on the theme of developing leadership potential.

Professor Roger Levermore from the HKUST MBA program was one of the key drivers behind the initiative. Leading the MBA course on Responsible Leadership and Business Ethics, Professor Levermore welcomed the opportunity to inspire young professionals to become better leaders. In a brief interview, he described the importance and impact of the seminar.

Q: How did the collaboration between the Chamber and HKUST Business School come about? A: The Young Professionals Committee at the Chamber launched a Mentorship Program not long ago. The MBA program at HKUST runs a similar initiative, in which alumni and senior students are paired with incoming students to offer advice and guidance to help them along their MBA journeys. Consequently, the Chamber invited us to support its event on leadership and issues related to mentor and mentee relationships.

Q: Who were the speakers at the seminar? A: To make it more engaging, we ran it in panel format. We tapped into our school’s network and invited two of our senior MBA alumni, Paul Choi and Charles Renier, to join the panel. Paul is an Executive Director in the Human Capital Management division of Goldman Sachs Asia, and Charles is a mentor in the Chamber’s Mentorship Program. Perry Lam, an executive coach to CEOs and business leaders in Asia, was also a member of the panel, and I served as the facilitator.

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Committee Updates Q: Leadership is a broad subject. What topics did you cover? A: We asked the panel members to draw from their own experiences and share how they develop leadership skills in others, and the ways in which young professionals can better interact with their mentors. The seminar became even more interesting as we switched to discussions on executive presence, authentic and disruptive leadership and East/West perspectives on leadership.

Q: What are the greatest challenges in teaching the younger generation about leadership?

ClarenceYang, Chief of Staff of BlackRock in Asia Pacific, was invited to share his leadership experience in one of Professor Levermore’s classes.

A: Leadership can be a very philosophical and theoretical subject. You can spend all day debating what leadership is, yet young professionals and MBA students are more concerned with the “how”. For instance, they want to know how to lead a cross-cultural team and how to make difficult leadership decisions, so we need to make the subject practical and applicable to them. Another challenge is that the world is ever changing. Just because something might work here and now doesn’t mean it will work in another place at another time. Educators need to keep in close touch with the real business world and understand each generation to stay relevant.

Q: How do you ensure your teaching is relevant to students? A: While developing my course on Responsible Leadership and Ethics, I did a lot of research on this hot topic by actively engaging with the business community. To collect more ideas on the topics and projects that should be included in the class, I spoke to more than 150 business professionals from all walks of life at companies such as J.P. Morgan, the Link, Schneider, BASF, CLP and the Swire Group. In each class, at least one speaker from the business sector is invited to share his or her experiences. I also make sure that the course covers as many practical leadership tips as possible. Students love the course and they become much more receptive to the idea of applied business ethics.

Professor Levermore’s MBA course on Responsible Leadership and Business Ethics has been shortlisted for a prestigious teaching award at HKUST this year.

Asia is the new Wild West. We need ethical and capable leaders to steer the region in the right direction and avoid the mistakes of the past. With educators and the business community working hand in hand we are sure to develop talented and determined future leaders. Stay tuned to keep up to date with other activities offered by the Chamber and HKUST Business School. For the update from Young Professionals Committee, please visit www.canchamypc.com

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Committee Updates

Technology Committee:

It’s Really About People

By Michael Kerr on behalf of Technology Committee

As the new Chair of the Technology Committee at the Canadian Chamber of Commerce, I would like to formally thank our out-going Co-Chairs Adam Khemiri and Chris Lloyd for their leadership over the past 4 and 2 years. Adam and Chris were pivotal in establishing the format and culture for our seminal monthly event, TechW@TCH. They also worked diligently to broaden our contacts with the technology community, both here in Hong Kong and regionally. We hope to continue to build on these relationships, and forge new ones, as we continue through this year and on into 2016.

To do this, our plan is to focus not solely on the technologies themselves but the people behind them. I know when I look back over my technology career, what I remember most is the people, more so than the projects I worked on, the code I wrote or the systems I implemented. As our core mission, the Technology Committee is committed to organizing networking and educational events that focus on technology-related subjects which will appeal to as wide an audience as possible within the Chamber and our community as a whole. To do that, we will emphasize the Chamber’s strengths, its presence as a respected and professional organization, and its ability to access people you might otherwise not meet at the typical technology events across the city, and we’ll do so in a relaxed and inviting environment. To that end, we will be holding monthly roundtables to discuss jobs and career paths in technology, how you can bring new ideas and thinking to your businesses using the latest in social media, how technology affects our daily lives and how technology is changing the modern workplace. For these roundtables, we will invite leaders within different industries for an honest and open discussion with Chamber members about how technology has enabled them to be successful in their careers. We will also invite leaders to discuss tech-related strategies to help businesses from start-ups to well-established enterprises increase their exposure and revenues. Our first event held in July was a lively and well-attended discussion on “Growth Hacking” that included well-known digital marketing expert, author and Chamber member Joshua Steimle and we hope to follow this up with further great sessions. We extend this invitation to join us as we move forward. Please reach out to me if you have people you’d like to meet or technologies you’d like us to explore. We of course can be reached via Twitter, email, LinkedIn, Facebook, Instagram, WhatsApp.

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Committee Updates

Sustainable Development Committee: Our New Initiatives

By Joseph Law on behalf of Sustainable Development Committee Commit

Water, waste, energy, Agarwood, clean beaches and air have been the issues of focus and activities for the Chamber’s Sustainable Development Committee (“SDC”) for the past years. In October 2014, our annual Beach Clean Up event brought together 120 people to collect over 382 kilogrammes of trash and strengthened awareness amongst participants on the community’s role in keeping Hong Kong’s beaches beautiful.

Later in January 2015, the SDC arranged a visit to the last remaining Agarwood plantation in Hong Kong, to learn about how Agarwood is grown using sustainable farming techniques. In June, members were invited to an environmentally-responsible fish farm at Lau Fau Shan which showcased the farm’s various energy-efficient measures. A lunch hour seminar on “Water Quality Control in Hong Kong: From Source to Tap” was organized in the same month, where it brought together various experts from different sectors to share their views the subject. One of the main roles of the SDC is to build awareness of various issues relating to the sustainable development of Hong Kong. The past half year has been an interesting and productive one: • Jan 2014 – Waste Management Position Paper: The future of waste management in Hong Kong should be a top priority and some real practical initiatives, such as waste charging, are needed.

and regional air quality but more reviews and analysis are needed on power imports from Southern China. • Mar 2015 – Review of initiatives to improve air quality in Hong Kong: A review of the initiatives in the government’s Clean Air Plan, which the Chamber supports, was carried out with various transport-related recommendations submitted to the Secretary for Transport and Housing. • Jun 2015 – Response to the public consultation on the Future Development of the Electricity Market: The community has benefited from a reliable and high-quality supply of electricity but future regulatory arrangements should focus more on cleaner energy sources, energy efficiency conservation and demand management. Lastly, we are pleased to announce that the Committee, previously chaired by Hendrik Rosenthal, has been taken up by Joseph Law. Joseph is the Planning and Development Director at CLP Power Hong Kong. He brings with him a rich and diverse background in renewable energy development that affects Hong Kong. The Committee wishes to recognize and thank Hendrik for chairing the SDC for the past five years. Under his leadership, the SDC has steadily expanded its thoughtleadership and voice on sustainable development in Hong Kong’s community. He will continue to play a major role in the SDC and his experience and expertise will be greatly welcomed. Your views are appreciated and you are always welcomed to join us at the next meeting of the SDC!

• Feb 2014 – Air Quality Position Paper: Clean air should be recognized as a public good and the Chamber supports the initiatives outlined in the Government’s Clean Air Plan as well as their implementation with definitive target dates. • Jun 2014 – Response to the public consultation on the Future Fuel Mix for Electricity Generation: Decisions on Hong Kong’s future fuel mix are important and will shape the city’s future energy policy. Increasing local gas generation is a pragmatic and effective way to improve both local

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Committee Updates

China Business Committee: China Series 2015

By SarahWai on behalf of China Business Committee

Internet Plus • The Internet era has reshaped China’s traditional industries. With the rapid rise of mobile Internet, almost 600 million users are now using mobile devices to get online. The next decade will see even more explosive growth, attracting China’s traditional sectors to encroach on the Internet economy. Conversely, Chinese Internet companies are seeking opportunities in the traditional economy. A combination of unforeseen magnitude is unfolding.

The China Business Committee (“CBC”) is proud to have KPMG as the Title Sponsor of one of our significant series, the China Series. The 2014 series was structured to provide practical, near-term insights and assessments for business development in China – in an especially interactive setting. A slate of distinguished speakers and panelists at each presentation discussed the status of China’s efforts at economic reform, near-term prospects for trade and investment, and new business opportunities for Hong Kong-based companies in China. Based on the success of the China Series 2014, the Chamber initiated China Series 2015. It is the intention of the Chamber to draw on last year’s experience to build a greater profile in the 2015 series. 3 events were held, namely:

Fourth Plenum • China’s Fourth Plenary Session was concluded on October 23, 2014. At the plenum’s closing, the CCP Central Committee issued a communiqué on “comprehensively advancing ruling the country according to the law”. While the details of implementation remained scarce, the document presented a general overview of reforms to China’s legal system with four takeaways from the Fourth Plenum communiqué.

One Belt, One Road

The panels of experts shared their views on the respective topics and our audience was able to learn through the presentation and interactive panels. The series is looking to host its last event of the series in winter and would like to encourage your participation.

• Chinese President Xi Jinping first raised the idea of the Silk Road Economic Belt two years ago. It would involve major infrastructure projects like railways, roads pipelines and power grids. This initiative called for the integration of the region into a cohesive economic area through building infrastructure, increasing cultural exchanges, and broadening trade.

Lastly, the Committee would like to announce that Mr. Winston Kan, Managing Director of the Strategic Executive Search Group, Asia, has officially taken charge of the Committee. The CBC would like to take this opportunity to thank Mr. Guy Cloutier for chairing the Committee for the past few years where he will continue to be the advisor of the CBC.

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| intelligent movement |


Advocacy

Hong Kong Competition Ordinance in a Nutshell

The Competition Ordinance is coming into effect on 14 December 2015. What is it all about? By Zhong Lun Law Firm

O

n 14 June 2012, the Competition Ordinance (Cap. 619) (the “Ordinance”) was passed by the Legislative Council but only certain provisions have come into effect. The Government has gazetted to appoint 14 December 2015 as the commencement date for the full implementation of the Ordinance. So, what has been done in the past 3 years?

Background We have the establishment of the Competition Commission which comprises 14 members with Ms. Anna Wu Hung Yuk as the Chairperson. The Competition Tribunal was also established with the appointment of Mr. Justice Godfrey Lam and Madam Justice Queeny Au-Yeung as the President and Deputy President respectively. Further, 6 Competition Guidelines have been prepared by the Commission, namely the Guidelines on the 3 Competition Rules and the Guidelines on Complaints, Investigations, Applications for Decisions and Block Exemption Orders. A set of draft Guidelines on Leniency Policy has recently been published by the Commission for public comments. The purpose of these Guidelines is to provide guidance on how the Commission intends to interpret the provisions of the Ordinance, although the Guidelines themselves do not have any legal binding effect.

What is the impact of the Ordinance? To answer this question, we have to understand the traditional ways of doing business in Hong Kong. Those business entities which particularly have strong sentimental values usually do business through “connection” and “information sharing”. After the full implementation of the Ordinance, these business entities are prohibited from engaging in conduct which has the object or effect of preventing, restricting or distorting competition in Hong Kong. There will be only one way of doing business, i.e. everybody has to make business decision according to the principle of autonomy. The Ordinance is applicable to all business entities and individuals

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Advocacy engaging in economic activities, as defined in the Ordinance as “undertakings”.

Competition Rules Three areas of anti-competitive conduct have been identified and they are now governed by the following competition rules:• The First Conduct Rule (the “FCR”) prohibits an undertaking from making or giving effect to agreements or decisions or engaging in concerted practices that have as their object or effect the prevention, restriction, or distortion of competition in Hong Kong. • The Second Conduct Rule (the “SCR”) prohibits abuse by an undertaking with a substantial degree of market power in a market engaging in conduct with an object or effect of preventing, restricting or distorting competition in Hong Kong. • The Merger Rule prohibits any merger by the telecommunications carrier licensees that has or is likely to have the effect of substantially lessening competition in Hong Kong. The Commission also takes the view that cartel arrangements between undertakings that seek to fix prices, share markets, restrict output or rig bids fall within the definition of “Serious Anticompetitive Conduct”. Other conduct may also constitute Serious Anti-competitive Conduct. Whilst FCR does not apply if the combined annual turnover of the undertakings does not exceed HK$200 million, the SCR does not apply to undertakings with an annual turnover of less than HK$40 million. This safe harbor rule does not apply to the Serious Anticompetitive Conduct, the effect of which is too serious to be exempt.

Investigation and Enforcement The Ordinance has provided the Commission with extensive investigative powers, including the power to obtain documents and information from any person, to require any person to attend before the Commission for an interview, or to enter and search premises under a court warrant. If the Commission has reasonable causes to believe that there has been a contravention of the Ordinance, it has the following powers before taking the case to the Tribunal:• to issue warning notices if the contravention of the FCR does not involve Serious Anti-competitive Conduct; • to issue an infringement notice if it is a contravention of FCR involving serious anti-competitive conduct or a contravention of the SCR; • to make a leniency agreement in exchange for an undertaking’s co-operation in an investigation; and

• to accept any commitment from an undertaking not to commence or continue an investigation/proceedings in the Tribunal.

Penalty After any investigation, the Commission may make an application to the Tribunal for a pecuniary penalty to be imposed on any undertaking which is involved in the contravention of any competition rule. Such a pecuniary penalty is up to 10% of the turnover of the business of the undertaking for each year in which the contravention occurred, or, if the contravention occurred in more than 3 years, up to 10% of its turnover for the 3 years that saw the highest, second highest and third highest turnover. For any individual who has infringed a competition rule, the Tribunal may order him/her to pay a pecuniary penalty of an amount it considers appropriate. An aggrieved person who has suffered loss or damage as a result of any contravention of a competition rule may bring a follow-on right of action against any undertaking who has contravened or been involved in the contravention.

Recommendations As an anti-competitive conduct usually relates to established practices which have been accepted as the norms for companies to do business, companies must take immediate action to review and seek legal advice on any established arrangements which might infringe the Ordinance. Depending on the size and risk profile of a company, internal compliance policies and procedures should be implemented to identify and reduce the risk of infringing the Ordinance; rectify any contravention; and create a culture of compliance within the organization. Be careful if you plan on participating in trade association, informal meetings and social events with other competitors as such participations will also raise concern about an infringement of the Competition Rules. With the Commission’s rights and powers of investigation under the Ordinance, particularly its power to search and enter premises under a court warrant, it is necessary for the companies to draw up compliance policies for their employees to follow. Finally, every company should be aware of the Leniency Policy. According to the draft Guidelines, only those that are first to report anti-competitive conduct to the Commission can benefit from the full immunity from pecuniary penalty, with others that also co-operate with the Commission being promised a favorable treatment which is at the Commission’s discretion.

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Adventures of Working Abroad in Hong Kong

Interview with Dr.Sarah Borwein By Sarah Wai,The Canadian Chamber of Commerce in Hong Kong Did you ever dream of working in Hong Kong previously when you were in Canada?

wein r o B h ra DrM.anSagaing Partner, Central actice Health Medical Pr

Dr Sarah Borwein is a Canadian-trained General Practitioner. She received her undergraduate degree from Queens University in Canada and a Masters degree in Development Economics from Oxford University in England, before attending the University of Toronto medical school. Sarah is a Managing Partner at Central Health Medical Practice. Sarah has lived in Hong Kong and Beijing for more than 16 years, where she has continued to develop her special interest in tropical medicine and travel health. Sarah has 3 young adult children. When she is not pursuing her passion for travel, she enjoys yoga, skiing, hiking, boating and photography.

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I first moved to Hong Kong in 1998. I had never planned to move to Hong Kong and never really imagined I’d end up in Asia. I moved here mainly because of a job opportunity for my ex-husband. We knew a year before we moved to Hong Kong, and we did a site visit prior to moving. I didn’t have a great image of Hong Kong before my visit. During the stay, I visited Discovery Bay, which seemed like Fantasy Island for my three young children, and decided we could make Hong Kong work.

What is working for you living and working in Hong Kong? Which aspects of Hong Kong you enjoy most? I love Hong Kong’s vibrancy and it’s East-meets-West mystique. And on a practical level, I have greatly appreciated the domestic help , as well as the fact that Hong Kong is a very safe city. These things made it possible for me to pursue my career. I must say, I have also appreciated not having to deal with Canadian winters.

What are the challenges upon your arrival? How have you overcome them? One of the biggest challenges was that it was hard for me to requalify as a doctor in Hong Kong. I did not work in my first few years in Hong Kong, and even went to work in Beijing for three years, where licensing was somewhat easier. Eventually, I decided I had to bite the bullet and go through the requalification process in Hong Kong.

Another challenge was that it was initially quite hard to find school places for my children. My eldest was lucky enough to get a last-minute spot in the international school in Discovery Bay. But my other 2 children did not immediately get places, and we had to send them to a village school further down Lantau Island. For several months, my two six year-olds had to take the ferry everyday at 7 am, and then a long bus ride. That was an adjustment after car-pooling in Toronto! Luckily, after a few months they did get into Discovery Bay International School.

You have worked in Canada, Hong Kong and Beijing. How is Hong Kong compared to these places? No question, Hong Kong is the best. It was hard work requalifying in Hong Kong for sure, but this is the place where I have felt most able to practice what I hope is good quality medicine the way I want to. There are challenges in every system, and the Hong Kong medical system certainly has it’s problems, but having worked in other systems makes me appreciate what we have here.

What would you like to see Hong Kong do more as your “home”/“ideal city”? Clean up the air. I have to say, when I first moved here in 1998, Hong Kong stank of diesel, because all the taxis used diesel for fuel. Hong Kong has definitely improved on this, but of course in other ways things have deteriorated. I do usually tell people that one way to worry less about the air quality is to live in Beijing for a while. After that you will feel that Hong Kong is not too bad. (wink wink) 


Adventures of Working Abroad in Hong Kong

Interview with Wayne Lee Did you ever dream of working in Hong Kong previously when you were in Canada?

What are the challenges upon your arrival? How have you overcome them?

In the early part of my career, I thought a lot about working in Hong Kong. I love the energy of the city and always felt it would be a great place to work.

One early challenge was finding an international school for our daughter as the opportunity to relocate arose after the deadline for admissions. Fortunately, she was young enough to attend pre-school in the interim.  She is now happily settled and has quite a few good friends living close by.

Later, after settling in Toronto with our young daughter, we were enjoying life there too, on a personal level and professionally for me at CIBC. The transfer to Hong Kong last year came as a surprise then but we welcomed the opportunity.

What is working for you living and working in Hong Kong? Which aspects of Hong Kong you enjoy most? My favorite part about living in Hong Kong is the people. The Canadian community here has been very supportive and welcoming which has made our transition easier.

Another challenge is time zones, especially when your head office is based in North America. I’ve had to get used to conference calls that can run late at night our time.

Have you worked in other countries before apart from Hong Kong? How is Hong Kong compared to these places? I worked in New York early in my career with CIBC. In my view, the two cities share a lot of similarities in terms of the people and energy.

Also, I work with wonderful professionals who are bright and driven, and bring diverse skillsets and thinking to our team. There is a lot of positive energy in the office, and it is a great place to work.

What would you like to see Hong Kong do more as your “home”/“ideal city”?

On a personal level, we love that our daughter is speaking more Chinese and experiencing the culture. We’ve also had great family experiences travelling in the region. My wife has also found rewarding work as part-time university lecturer.

For anyone living in a major city, affordable housing, air quality and public transit are key factors in quality of life. The efforts underway here are positive and continued progress will make this city even greater.

Lee e n y a W

Managing Director and Head of Asia Pacific Region, CIBC My wife and I were both born in Hong Kong. I went to Canada for school at age 15 and after completing high school and university there, started my career in Toronto.  My wife had immigrated to Toronto with her family while she was in middle school. We transferred to Hong Kong in August 2014.

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Sharing Experience and Success: Leadership Column

By M Maria aria Lopez, The Canadian ian Chamber of Commerce in n Hong kong

Cavalia, an equinee theatrical production thatt integrates acrobatics, atics, dance, aerial stunts, live li music and equestrian trian arts, took Hong etween March and May Kong by storm between ted by one of the of this year. Created co-founders of Cirque rque du Soleil, it has stunned audiences es around the world. An awe inspiring show featuring 40 ases a journey horses, it showcases uniting man and horse. In case ig white tent you missed the big ont in Central, near the waterfront and Latourelle its founder Normand dian Chamber was at the Canadian of Commerce in Hong Kong to share with us his story and the story of how this Canadianon was brought at-heart production about.

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Sharing Experience and Success: Leadership Column

At a very young age, Québec native Normand Latourelle understood that his passion was to make people dream. Very soon, he turned his talent into his trade as he co-founded Cirque du Soleil back in 1984 with partner Guy Laliberté. At the time, Montréal was undergoing a cultural revolution of sorts: a city trying to express its unique cultural identity in the middle of an English-speaking country. The province was also fundamental to the production’s inception: it provided Laliberté with grants early on so that the performers perform could go on with the show.

Normand Latourelle knew very little about horses before Cavalia. It was his expertise from Cirque du Soleil as well as his newfound love for horses and big image production that allowed him to create a rich and sweet mix between different techniques in performing arts. Fast forward a couple of years, Cavalia has grown to be a production with 70 horses of over 11 different breeds, 45 performers and over 100 employees. Latourelle has also developed a new show, Odysseo, which has sold over 1.5 million tickets across North America. Part of his success, he argues, is the guerrilla marketing strategy which has driven communications managers of his company crazy. One poster for the show infamously shows a horse on a simple one-coloured background and quotes from celebrities but the dates of the performances are nowhere to be found. The idea, according to Latourelle, is to elicit curiosity of the public on a more personal and memorable level.

It was during the very heyday of Cirque du Solei Soleil that Normand Latourelle decided to part ways with the t project to spend more time with his family. He started crea creating shows in Montréal working with the government and got into the world of special effects production. He also start started to explore using nature elements as he produced open air shows. It was at one of these shows where he noticed how the horses were stealing the attention. As he watched the audien audience, he realised that their eyes were following the horses horses, and that the animals were doing very little to capture their at attention. Intrigued and fascinated by the aesthetics of the horses, he started to buy horses, in the hope of creating a brand bra new show.

In any case, Latourelle concedes that he has put in Cavalia everything that he has learnt throughout his life: the lights, the water, the music. But mostly, he has married the acrobatic world with the world of horses, a concept that he had to sell to bankers in order to get the project started. “When someone tells me it’s impossible, I tell them, you just haven’t done it before”, Latourelle explained. “This is the formula of how you can reach the imagination of whoever you address: you have to make the impossible possible”, he added. Cavalia has brought to Hong Kong a bridge between cultures, a bridge between Canada and the city we are lucky to call home.

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Focus on Members

Promoting Methanol As Clean Fuel

By Kelly Zhou, Methanex Asia Pacific Ltd

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Headquartered in Vancouver, Canada, Methanex is the world’s largest methanol producer and supplier and currently operates production sites in Canada, Chile, Egypt, New Zealand, the United States and Trinidad and Tobago. The company moved its commercial office for Asia Pacific from Auckland to Hong Kong in 2006 to get closer to the most dynamic market in the region.

Information sharing – serving as the bridge for methanol fuel best practices in China and the rest of the world

Methanex has been doing business with/in China for more than 20 years and has established long term relationships with customers and other key stakeholders. With China becoming the world’s largest methanol market and methanol being increasingly recognized as a competitive clean burning fuel, Methanex has been actively developing methanol based fuel applications with partners in China. As a Responsible Care® Company, Methanex has an active role in promoting methanol safe handling and product stewardship with customers, suppliers, terminal and storage partners, key government agencies and communities. The Responsible Care® Ethic and Principles for Sustainability is a United Nations recognized sustainability initiative adopted by the global chemical industry to enhance community safety, employee health and safety, environmental protection, product stewardship and social responsibility.

Methanex actively participates in key industry conferences, sharing global progress and learning with methanol’s use as a clean fuel for automobiles, ships, homes and for power production. Methanex also works closely with stakeholders in China to take the lessons and experience of using methanol as a fuel in China to strengthen the work and use of methanol fuels in other countries outside China.

Methanex has been actively demonstrating the benefits of methanol fuels for the environment as a low cost clean burning fuel that can support China’s local energy resources.

Methanex sponsors and engages with international experts to attend key industry forums in China to enhance information exchange and accelerate progress in China. In addition, Methanex introduced international customers to Chinese partners for business opportunities in fuel blending and methanol fuel related investments outside China to create win-win outcomes.


Focus on Members

Responsible Care® initiatives – promoting the healthy development off the industry At Methanex, Responsible Care® is the foundation of everything they do and is a key element of the company’s global culture. In China, Methanex has been communicating and engaging closely with key stakeholders to support product stewardship and protect the reputation of methanol by sharing best practices internationally and providing technical support when necessary. Methanex has provided free Responsible Care® seminars and information sharing opportunities for government agencies, industry associations, customers, partners and universities. Given the majority of methanol is transported by truck in China, Methanex also organized truck safety seminars for logistics service providers to stress the significance of safe handling and transportation, and share best practices with the purpose of raising the overall industry awareness and standards.

Supporting the government with the drafting of documents and guidelines for the industry Guidelines and standards are critical for the orderly development of an industry. Methanex has been providing technical and financial support and helping with the drafting of guidelines for the industry. Since early 2015, Methanex supported the drafting of guidelines for the design, construction, and operation of methanol fuel filling stations which have been published recently by China‘s Ministry of Industry and Information Technology. These guidelines will be an asset to the provinces involved in the pilot program and enhance the public’s confidence in methanol as a clean fuel. The guidelines will help harmonize best practices nationally leading to increased confidence and safer distribution of methanol motor fuels. This year, Methanex has worked with the State Administration of Work Safety to produce its first ever Chinese Methanol Road Transport Safety Handbook, which has been handed out to around 700 participants at the 2nd International Process Safety Management Conference held in Ningbo in September as well as relevant companies and organization for free. The Chinese say “a journey of a thousand miles begins with a single step”. We believe every single effort that is made will make a difference in the end. This is what Methanex employees are doing in China and in other places, walking the talk and contributing to the healthy development of the industry as a responsible global leader. 23


Focus on Members

PwC’s Strengthening Donor Communications Programme Shows Charities Why Measuring Social Impact Matters Over the past two years, the “Strengthening Donor Communications” training seminars held by PwC China and Hong Kong have attracted leaders from about 250 non-profit organisations (NPO). The free seminars provide skills in the areas of governance, risk management and reporting which help NPOs earn trust from their donors and other stakeholders. By Joanne Oswin, PwC The training programme was launched in Hong Kong in 2013 with great success, and PwC has since provided sessions in Beijing and Shanghai, with local Corporate Responsibility teams in PwC Malaysia and PwC Singapore also replicating the programme. Following the training seminars, a longer term mentoring programme provides selected NPO participants with an opportunity to work with PwC professionals to focus on areas of critical importance. The first of these mentoring cohorts in Hong Kong have now completed, and the results have been very encouraging.

Mentoring programme outcomes In order to determine the real value delivered to NPOs, a detailed impact measurement project was carried out. PwC engaged an independent party to conduct in-depth feedback interviews with mentoring participants. NPO leaders reported they used what they learned in the programme to positively impact their organisation. The learnings included: • Additional board members recruited, roles and responsibilities were clearly defined and there was an increase in member engagement

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Focus on Members • Annual reporting templates were developed, leading to clearer bookkeeping and transparent financial reports • A vision and mission statement were defined, leading to clearer communication of identity and charitable status, fundraising strategies, goals and priorities. • Frameworks for measuring and reporting outputs across initiatives were developed • Fundraising was improved because of more concise communications, improved external profiling, access to broader networks and more targeted approaches for specific donors. PwC mentors also indicated that the programme had a double benefit of providing positive results for the firm, such as increased competency and skills, improved internal and external networks and satisfaction.

Social impact measurement and reporting In early 2015, PwC held another seminar focusing on impact measurement and reporting. Around 100 NPO leaders and ten corporate CSR practitioners attended this event. This seminar combined training, discussion, workshops and best practice sharing from all participants, covering impact measurement in a holistic way. Hannah Routh, Sustainability & Climate Change Director for PwC Hong Kong, presented the concept and tools of social impact measurement. As with previous programmes, a number of NPO participants are now engaged in mentoring relationships with PwC professionals, and we look forward to sharing the results as the programme continues to grow and evolve.

Quotes “Our mentorship with PwC was hugely beneficial. As a direct result, we now have a clear vision and mission. With these in place we are able to bring consistency to our strategy and communications. The mentorship also helped us to introduce annual reports about our work, and understand how to improve impact measurement.  It was a real boost to our organisation to have busy senior professionals taking time out to help guide us and be part of our work making a positive difference in the local community.” - Caroline Sprod, Executive Director, HandsOn Hong Kong, a non-profit organisation that helps charities meet their volunteer needs. “It is encouraging to see such collaborative efforts across our region towards building trust in the NPO sector and help them improve governance and transparency. Training on NPO governance and transparency has been replicated in Hong Kong, Beijing, Shanghai, Kuala Lumpur and Singapore, and PwC firms already have a strong history of supporting NPOs in this way in Taiwan, South Korea and Australia.

Callum Douglas

The firm’s community partners have given positive feedback on the seminars, and our volunteers have said that they’ve benefitted from the experience, too,” said Callum Douglas, PwC Corporate Responsibility Associate Director for Asia Pacific,

“Having played a part in founding a non-profit organisation myself, I understand how vital it is for the highest levels of oversight and transparency to be in place to ensure long term sustainability. This programme provides an opportunity for NPOs to build their capacity in areas which are core to PwC’s business, leading to a more trusted non-profit sector and a stronger society,” said Joanne Oswin, PwC Chief of Operations and Corporate Responsibility lead partner.

Joanne Oswin

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Focus on Members

Fulfilling Our Corporate Social Responsibility – It Can Be Achieved!

Recently, many terms have emerged related to environmental protection – “the green economy”, “sustainable development”, “green consumption” and more. The popularization of these terms implies that environmental protection is not only a civic responsibility for all of us; it also has revealed that there are many business opportunities for enterprises in the environmental field. In modern society, it is increasingly important for organizations and companies to fulfil their corporate social responsibility (CSR). For many organizations, conserving the natural environment is part of this responsibility. To help enterprises move their conservation agenda forward, it is essential to partner with a suitable, competent and highly-recognized nonprofit institution. What follows is an interview with Mr Wong, the Chief Executive Officer of a local enterprise. He shares his thoughts and experiences with choosing an environmental organization as a quality CSR partner.

Interviewer – WWF (WWF-Hong Kong) Interviewee – Mr Wong

Why did your company choose WWF-Hong Kong as a partner? As we know, WWF is a time-honoured conservation organization focusing on local education and conservation. We agree with WWF that youth education plays an important role in public engagement, they engage some 30,000 students each year to visit Mai Po Nature Reserve with funding from Education Bureau, the

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students are able to acquire knowledge about local biodiversity and learning about the importance of conservation. We see WWF as a valuable partner that can provide enterprises a diversified platform, such as our Corporate Membership Programme – which helps us fulfil our corporate social responsibility and strengthen our corporate image. This programme equips enterprises like ours with practical tools and guidelines to improve environmental performance via various


Focus on Members conservation and carbon reduction measures. WWF also encourages us to formulate environmental protection policies and promote them to our stakeholders. The programme helps our employees take advantage of opportunities to experience nature and participate in conservation work, which in turn raises their conservation awareness and motivates other staff members to work together to conserve Hong Kong’s natural assets.

What is the most memorable activity you took part in with WWF? It was definitely our visit to Mai Po Nature Reserve. The interpreter told us that we could discover about 400 bird species at Mai Po – over 75 per cent of the bird species found in Hong Kong. Of these, 35 species are of global conservation concern. Mai Po is often regarded as “Bird Paradise”, but a lesser-known fact is that it is also a biodiversity hotspot inhabited by creatures of all kinds, including reptiles, mammals, fish, crabs, amphibians and butterflies. We have taken part in several visits to various WWF education centres, allowing our colleagues to enrich their conservation and environmental knowledge. These visits have had the added benefit of helping strengthen teamwork and staff communication in the workplace.

© WWF – Hong Kong

Volunteer work at Mai Po

Are there any other activities you intend to join? To further increase our colleagues’ conservation knowledge; we have invited an expert from WWF to conduct a conservation seminar for us. One possible topic might be how to identify and select sustainable seafood. With the knowledge gained from the seminar, our colleagues will not only be able to consume sustainable seafood while on business dining, they will also be able to share this knowledge with their family and friends and together we will all be able to protect the Earth.

We are grateful to WWF for considerately limiting the maximum number of visitors in each team to 20 people, allowing the instructor to deliver conservation messages clearly and interactively with our colleagues, something which maximized learning for all participants.

© WWF – Hong Kong

How does your company support carbon reduction?

Apart from the guided tour, what other activities have you taken part in?

We joined WWF’s Low-carbon Office Operation Programme (LOOP). As we are a WWF corporate member, the first year’s participation fee was waived. The LOOP provides us with a platform to take charge of our monthly carbon emissions figures. With WWF’s professional staff sharing carbon reduction ideas with us, after a few months our electricity bill decreased. Our colleagues are happy with the results of the programme so far and are ready to contribute further to protect our natural environment.

We also carried out volunteer work at Mai Po. Some exotic species have entered Hong Kong – plants and creatures which have no natural enemies here. This means they grow uncontrollably, creating negative impacts on our wetlands. Our volunteers worked to cut back and restrain these species from mass propagation.

If you are interested in joining our conversation family, becoming a corporate member or cooperating with us on any level, please contact Mr Ma at 2161 9658 or visit www.wwf.org.hk/ cmp for more details.

© WWF – Hong Kong

Bird watching at Mai Po

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Focus on Members

Shanghai Free - Trade Zone, Guangdong Free - Trade Zone and Hong Kong - Competitors or Allies? By Kristina Koehler-Coluccia, Koehler Group

In September 2013 China opened its first “Pilot” Free-Trade Zone (“PFTZ”) in Shanghai and in March 2015 other cities replicated the concept and opened their own areas to promote foreign direct investment (“FDI”). One day before the announcement of the Shanghai PFTZ expansion, the State Council of China also passed the framework for a Guangdong PFTZ merging the Qianhai New Area with Guangzhou’s Nansha New Area and Zhuhai’s Hengqin New Area with a combined 116 square kilometers of industrial space.

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The PFTZs: Regulations are not always in line with reality The main advantages of the PFTZ can be summarized as follows: • Shorter and easier establishment processes of Foreign Invested Enterprises (“FIEs”) due to a centralized single application procedure • The promotion of Renminbi (“RMB”) convertibility with unrestricted currency exchange in the future • Special custom clearance processes enabling logistics companies to declare customs on goods at a later stage • New tax policies which allow companies to choose to pay import taxes on either the finished goods or on the single components, which can be a huge difference in China


Focus on Members However the PFTZs are not (yet) widely accepted among foreign investors. Of the first 10,000 companies registered in the Shanghai PFTZ, only 661 were foreign invested companies. One of the main reasons for reluctance is the negative list, which even though was reduced in 2015, still limits or prohibits foreign investment into certain industries. Examples are finished cars (only up to 50% foreign ownership allowed), and tobacco sale (prohibited for foreign investment). Furthermore, the regulations are not working as advantageous as they look in theory. For example, the application process in the PFTZ is in reality not as fast as one would expect for Small-Medium Sized Enterprises (“SMEs”). One of the biggest disadvantages of the Shanghai PFTZ is that it is located far from city center, making it difficult to attract expats and high-qualified locals. This has however now been compensated with the expansion of adding Shanghai’s main financial district Lujiazui and other designated areas to the PFTZ.

Considering all of above: Are the FTZs posing a threat to Hong Kong’s position as gateway to China? Hong Kong is widely known as the gateway to China and as an easier entry point. As the former British colony, Hong Kong offers an easily understandable low tax regime, a western business atmosphere including common fluency in English and generally high skilled personnel. China also has a comprehensive Double Taxation Agreements (“DTA”) in place with Hong Kong and finally Hong Kong has the world’s freest economy and port. Furthermore Hong Kong continues to be the offshore center. For almost a decade, Hong Kong has been the only place allowed to conduct offshore RMB business. With increasing internationalization of RMB, it now faces fierce competition to maintain its role as the top RMB hub. Within the country, the Central Government has earmarked the PFTZ as testing grounds to realize free convertibility of the RMB, which has however still not been realized fully.

provide a level playing field. This requires transparency, an independent legal system, and a willingness to adopt international norms. None of this is in place today in China. With an increase in business in the Guangdong PFTZ, business in Hong Kong will most likely increase and benefit from it. The Guangdong PFTZ can expect more foreign investment due to Hong Kong’s safer business environment being close by, as companies which would otherwise not take the step into China are possibly going via Hong Kong.

However even if the RMB were to become a fully convertible currency and the Shanghai and Guangdong PFTZ grew into a thriving financial services hub, most analysts believe that both foreign companies entering the Chinese market and Chinese companies expanding offshore would still prefer the reassurance of Hong Kong’s strong legal framework, transparent markets and financial know-how. Financial centers become international hubs only when investors perceive they

This mutual beneficial relationship between the Guangdong PFTZ and Hong Kong is not shared by the Shanghai PFTZ. Shanghai is a strong competitor for Hong Kong and is attempting to take over the position as China’s main point of entry for foreign investment. This has also shown immediate effect on the Guangdong PFTZ. There were reports that some companies that had planned to invest in the Guangdong PFTZ are reassessing their options in favor of Shanghai.

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Leisure

Canada’s Rocky Mountaineer, World’s Top Rail Journey The World Travel Awards named it “World’s Leading Travel Experience by Train”, and ‘World’s Leading Luxury Train’. Not once, but eight times. Travel+Leisure magazine called it “One of the World’s Best Life-Changing Trips”. Condé Nast Traveler dubbed it “One of the Top Five Trains in the World”. If awestruck guests on Canada’s Rocky Mountaineer can even find words strong enough to express their delight in the journey, they will often call it the “Trip of a Lifetime”. By Mark Richardson, Rocky Mountaineer o wonder travellers with the spirit of adventure love the experience. With 25 years of hosting guests from around the globe, the largest privately owned company

N

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of its kind in the world can offer stellar service second to none. Chef-cooked gourmet meals highlight the sweet and savoury foods of Western Canada, simply

prepared to bring out their best flavours. The camaraderie of a shared experience makes it easy to socialize with tour companions and new-found friends on board. All luxury-train


Leisure trips strive to provide a high level of comfort and quality, but none can offer the scenery or service that makes Rocky Mountaineer unique.

accommodations range from luxurious to mid-range, depending on the service chosen.

Hugely popular among Rocky Mountaineer guests have the option to take an Alaska cruise from Seattle or Vancouver. Award-winning Holland America ships ply the Inside Passage along the British Columbia west coast and into glacier-studded Alaska waters. Daily stops allow excursions, from mild to wild, in the small and lively port towns on America’s last frontier.

From April to October, the sleek blue train travels by daylight through Western Canada’s vast and beautiful wilderness. Photo ops are everywhere; from roaring waterfalls and yawning canyons that will never be seen by motorists, to deep fjords and towering peaks populated only by wildlife The Rocky Mountaineer is the best way to see the spectacular Rocky Mountains, which straddle the Continental Divide and connect the provinces of British Columbia and Alberta. Guests on Canadian Rockies routes travel in style, whether they choose GoldLeaf, or SilverLeaf or RedLeaf Service. (RedLeaf is available on some routes.) Overnight hotel

fertile arable land and passes the glaciated volcanic cone of Mount Baker and other Cascade Range peaks.

First Passage to the West runs between cosmopolitan Vancouver and Calgary, or postcard-perfect Lake Louise, or the attractive mountain town of Banff. It’s the only passenger-rail service on the historic Canadian Pacific track. Journey Through the Clouds takes a more northerly route to and from Vancouver and Jasper, a charming outdoor-adventure town in the largest Canadian Rockies national park. Even the short Whistler Sea to Sky Climb, a morning run from Vancouver with optional afternoon return, packs in the superb sights of Howe Sound, old-growth forest and snow-capped Coastal Range peaks. For 2016, the Whistler route has been added to the Rainforest to Gold Rush route (below), so day trips on the Whistler Sea to Sky Climb will not be available after this 2015 season. Rainforest to Gold Rush, between from Vancouver via the resort village of Whistler to the outdoor-adventure towns of Jasper and Whistler, packs in the superb sights of Howe Sound and snow-capped Coastal Range peaks. It offers the contrasts of North America’s largest temperate rainforest, the desert-like Fraser Canyon, and the grassy ranchlands of the historic Cariboo gold-rush region. Guests can begin or end their three-day Coastal Passage rail journey Rockies trip with an extension to that embraces one of two routes through the Canadian Rockies, and visits Vancouver, BC, Seattle, U.S.A., due south of Vancouver, via the Coastal Passage train route that hugs the rugged Pacific shoreline, and Seattle, USA. The train winds through deep forests, crosses raging rivers, traverses semi-arid deserts and navigates trestles and tunnels through towering mountain ranges. Along the rugged Pacific shoreline, it hugs

Many guests incorporate their train trip into a vacation package. Rocky Mountaineer also offers several no fewer than 45 dozen other vacation packages that can include trains, car rental, accommodation, coach and heli tours, meals and transfers, all tailored to individual wishes. Length of the package can range from a few days in Western Canada, to over two weeks travelling from Halifax to Vancouver. One epic circle trips that allows guests to loop around through the Rockies, beginning and ending the journey in Vancouver.

Call it life-changing, call it the trip of a lifetime, or call it your next vacation — and decide for yourself. Hugely popular among Rocky Mountaineer guests is the option to take an Alaska cruise. Award-winning Holland America ships ply the Inside Passage along the British Columbia west coast and into glacier-studded Alaska waters. Daily stops allow excursions, from mild to wild, in the small and lively port towns on America’s last frontier. For more information, please refer to www.rockymountaineer.com or call your travel agent. 31


Community

Hong Kong: Bridging China to Investment Opportunities in Canada By Hong Kong Trade Development Council

Chinese businesses are entering another phase of global expansion. “China’s 12th Five-Year Plan encouraged mainland enterprises to start ‘going out’,” says Jenny Koo, Director of Service Promotion at the Hong Kong Trade Development Council. “By seeking investment and business opportunities overseas, these enterprises will upgrade and transform their capabilities and enhance their competitiveness in both domestic and international markets.” China’s overseas direct investment flows surged a staggering 37.5% per year between 2002 and 2014, and China has now become the world’s third-largest investor economy. Businesses worldwide are already taking advantage of this trend. However, these cross-border investment partnerships face a number of challenges, the navigation of which would be best handled by Hong Kong’s world-class community of specialised services professionals. “From due diligence and risk assessments to valuation services, legal advisory and more, Hong Kong provides a full spectrum of services to support the investment process and facilitate international partnerships,” says Ms Koo.

INA CH

According to the Chinese Ministry of Commerce, the mainland’s total outbound investment amounted to over US$880 billion as at the end of 2014, with about 60 percent being directed to, or channelled through Hong Kong. In fact, China’s cumulative direct investment into Canada has already reached C$25 billion, making it the sixth-largest source of foreign direct investment into Canada, and there is certainly room for growth. Ms Koo is particularly keen to highlight To promote Hong Kong as Asia’s central business district, the first stop for overseas Guangdong, the southern province adjacent to companies entering the Asian market, and the global gateway to China, the HKTDC organised“Think Asia, Think Hong Kong” in Toronto in June 2015, which was attended Hong Kong that features the highest level of by 1,500 business people. outbound investment among all mainland provinces. At the heart of its strength is light manufacturing, which accounts for over half of the province’s total industrial output. Ms Koo suggests that “Canada’s clean manufacturing and environmental technologies are natural partners for thriving Guangdong enterprises looking to improve their competitiveness.” “Hong Kong is the perfect platform for Canadian companies given our close proximity to Guangdong and our large Canadian community,” she added. This was made clear by the positive responses to a previous HKTDC mission to Canada under the auspices of the Ministry of Commerce.“Hong Kong’s effectiveness as a business centre convinced Canadian investors that we are a crucial stepping stone in reaching opportunities in China.”

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HONG


Community

The delegation visits Cymat, a Toronto-based materials technology with the worldwide rights to manufacture stabilized aluminum foam products.

Guangd in tor Hong KKong service rvi professionals fessional and nd Canadian Canadi project ject Guangdong investors, owners in a tripartite business matching meeting.

Efforts to build more ties have not let up. This June, the HKTDC brought another delegation of Hong Kong services professionals and Guangdong corporate investors to Toronto to explore tripartite investment partnership opportunities with Canadian technologies. “The collaboration did not end after the mission though,” says Ms Koo. “It led to lasting communications on business possibilities, with new partnerships already in the pipeline.” In one case, a Guangdong furniture manufacturer has already set up further meetings with a Canadian houseware retailer to build on their discussion in Toronto.

CA NA DA

Signing of an agreement between a Guangdong machinery and equipment manufacturer and a Canadian environmental technology company. The partnership was facilitated by Hong Kong branch office of an international law firm. The Guangdong investor and the Hong Kong lawyer joined HKTDC’s mission to North America in 2013.

These collaborations are following the footsteps of earlier Hong Kong-CanadaChina successes. The HKTDC’s mission to North America in 2013 produced a perfect illustration of this kind of tripartite collaboration when a Hong Kong legal firm represented a Guangdong machinery and equipment manufacturer in executing a joint venture agreement on waste management with a Canadian company. “The end result was that everybody benefitted and achieved what they could not have done by themselves” says Ms Koo.

These Guangdong investors, along with others from across the mainland, have been invited to join the Asian Financial Forum (AFF) in Hong Kong next January. As part of more than 2,600 worldwide financial and business leaders in attendance, these investors will take part in the Deal Flow Matchmaking Session for in-depth discussions with potential business partners from around the world.

Deal Flow Matchmaking session held during the Asian Financial Forum attracted more than 1,000 companies over the years. The last edition featured 12 Canadian investment project owners, high net-worth individuals and professional services providers.

“Since 2011, the HKTDC has organised more than 100 activities to help international businesses capitalise on the increasing outflows from the mainland via the Hong Kong services platform,” says Ms Koo. These activities included joint investment missions, research projects, training sessions as well as seminars that culminated in more than 3,000 business-matching meetings between over 5,300 mainland investors, 1,500 Hong Kong services professionals and 4,000 overseas companies.

Encouraged by these results, Ms Koo reiterates the HKTDC’s efforts as establishing Hong Kong as the bridgehead for mainland enterprises’ outward investment ventures. “By continuing to serve as a source of market intelligence and business connections for mainland investors and overseas project owners, we will equip Hong Kong services professionals and overseas companies with the knowhow and tools they need to seize this rapidly growing opportunity.”

KONG

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Community

The Challenges and Successes of Setting Up and Doing Business in Hong Kong – Nanoleaf By Christian Yan,Nanoleaf christian@nanoleaf.me

Nanoleaf is a green technology company that pushes limits in energy-efficiency by developing super-efficient LED products in order to make an impact to the world. Our goal is to transform how lighting is integrated in people’s lives by adding software and connectivity to our uniquely designed hardware. Our HQ is located in Toronto and the three founders are all from the University of Toronto. The Hong Kong office is the main business entity that handles all our manufacturing, export, and trading matters.

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Community Why did you choose Hong Kong? Prospering SMEs is what fuels Hong Kong’s economy and why it’s such a great place to live and do business. Hong Kong has a very transparent legal system and a dual-language policy, which are reasons why many foreign companies choose Hong Kong as the “gateway” into China. The USD-pegged local currency is also great for companies that mainly deal with foreign customers or customers who simply wish to trade in USD. There must be a reason why many manufacturers even from China have opened companies and bank accounts in Hong Kong. We also received generous support from organizations such as InvestHK, HKTDC, and the HKPC – all here to support new founded companies and startups in Hong Kong. Nanoleaf also received subsidies from the SME Marketing Fund (of more than 25,000 USD) supported by the Hong Kong government, which lowered our exhibitions expense this year. Nanoleaf was incorporated in 2012 but the founders have been visiting Hong Kong many years before for trade show visits and product development.

Have you personally lived in the City? How do you like living and working here. I have been living in Hong Kong for nine years and obtained my permanent residence after seven years of being on a work visa. I always thought of Hong Kong as the New York City of Asia – a city full of energy and opportunity. The city definitely forces you to have a fast-paced lifestyle (with long work hours) and this may not suit everyone as a place to live. If you are someone the loves nightlife, then this is the place for you. What I love about Hong Kong is that you can get food and wine from anywhere in the world and on the same day, you can also experience very local culture dining too. Many people may believe that Hong Kong is a small place with limited activities but it’s actually the opposite. It was after my second year living in Hong Kong that I finally started to experience all the outdoor activities such as wakeboarding, boating, scuba diving, hiking, kayaking, paddle boarding, and biking. What more can you ask for?

customers or suppliers are around the Asia-pacific region. There are tons of accounting firms, law firms, marketing agencies, and logistics companies that are tailored towards working with startup SMEs and will offer reasonable pricing. You do not to worry that language will be a barrier – English will get you a long way both in business and in your personal life. Try to get involved in the business community and participate in events hosted by various chamber associations. You will never experience shortage of a happy hour networking events in Hong Kong. Office and living rent is hefty cost and must be considered in your budget. However, there are plenty of co-working spaces for startups to take advantage of, as well as newly renovated offices in what use to be old industrial buildings. The low (business) profit tax is another favorable factor to doing business here, one that no company ever complains about.

What is the startup community like in Hong Kong? When I first came into Hong Kong, no one talked about startups, we just called them “SMEs”. Now you hear about new “startups” everyday. The community has definitely grown since five years ago. The government has also set forth many programs throughout various organizations to spawn and support new startups, both foreign and domestic. Keep an eye out for incubator programs that match your needs. The number of shared offices and co-working spaces have increased dramatically, which means that there are plenty of startup talks, training sessions, conferences, and networking events for founders to attend. Many startups that have shown sales traction in North America now have setup base in Hong Kong to prepare for their launch into Hong Kong, China, or SEA countries. I personally think that Hong Kong is the number one place to be for IoT and technology hardware companies, who all have an advantage sourcing products from across the border in Shenzhen. You wouldn’t believe how many Kickstarter and Indegogo technology projects were funded all right here in Hong Kong. We were one of them!

What advice would you give entrepreneurs trying to establish a business in Hong Kong? First and foremost, you’ve picked the right place! Hong Kong is the perfect place to build your company base if your

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Professional Development

Believing and Achieving to Win in Any Economic Environment By David Goldsmith, Goldsmith Organization

Basically, there are two actions you can take immediately: Believe and Achieve.

Believe with the Right Mindset First, you have to believe that there are opportunities for the taking. Don’t discount the power in this seemingly rudimentary approach, because in evolving economies, while all decision makers recognize that many obvious opportunities of yesterday are dwindling, only a handful have the confidence in their ability to generate new opportunities or to seize existing ones. The right mindset is this: While you’re telling others that you’re optimistic, you might internally have unexpressed doubts that you can actually successfully navigate your organization through this time. Those leaders who are genuinely optimistic have an advantage over those who are not.

In good economic times, it is easier for leaders to appear to be good decision makers. And in challenging economic times, those same decision makers don’t always fare as Achieve with the Right Skillset well. The good news is that with a couple of surprisingly simple actions, you can improve Your existing skillset, which has gotten you to where you are today, involves many moving parts and is individual to you. Draw upon it your ability to lead regardless of the to create new opportunities. economy. And as changes continue to make their way through Asian or more specifically Next, immediately add a new “leadership tool” to your skillset; it’s global economies, maintaining or even called the Enterprise Thinking (ET) Attract-Secure-Maintain improving your decision-making abilities at a Checklist. This tool will enable you to assess your current revenue time when others are being “conservative” model and to make appropriate improvements to it. will give you great advantages, because the reality is that every economic climate holds Here’s how it works. Every revenue model is made up of three basic an abundance of opportunities for those who activity components: Activities that attract prospective buyers, activities that secure sales, and activities that maintain customers or know how to tap into them.

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Professional Development

• Attract: Data mine psychographically on local, regional, national, and international scales to draw in prospects with the greatest buying ability, including current and prospective buyers: stronger currencies, less-affected industries, more robust economies, etc. • Secure: Offer ease and convenience as order winners when your offerings differ little from competitors. Think amazon.com’s One-Click feature that enables buyers to lock in on a sale within seconds. You want to empower, not encumber your buyers. • Maintain: Court your buyers beyond the first sale to stay relevant as the choice vendor and prevent too much room for competitors to win over your customers. Consider this, your client/customer is never really yours. It’s an illusion that can fade quickly.

clients as repeat buyers. Every revenue model is in a constant need of some improvement in the following three areas: • Attract: How are you attracting buyers through all avenues of your sales pipeline: marketing, PR, provisional merchandising on display windows, website, networking activities, word-of-mouth referrals, etc. • Secure: What mechanisms do you have in place to secure buyers? Upgrade, replace, or add onto these mechanisms to avoid preventable order losers: long cashier lines, out-of-stock items, poor quality, service-related errors, etc. • Maintain: Why do your customers/clients keep coming back to you, sale after sale? Consider educational seminars/videos and conferences, newsletters, promotions, relationship-building activities like sharing sales leads or helping clients build their businesses. Now, as you assess how well your current revenue model functions, consider additional ways that you can identify or create opportunities to further Attract-Secure-Maintain business, thus generating more and better revenue streams:

Though seemingly simplistic, believing that opportunities exist and attracting the best and right opportunities through an improved revenue model are two sure ways to drive your organization forward in any economy.

David Goldsmith is Co-founder and President of New York, Hong Kong based Goldsmith Organization, and Buzd, LLC a San Francisco based patent ead of development company, Head Strategy for Innosect a Silicon con Valley innovation analytics and advisory dvisory company, an award-winning ing author of Paid to THINK, engaging ng keynote speaker, patent holding inventor, former 12-year professor at New York University, serial entrepreneur, advisor to tech startups, and groundbreaking business thought leader.

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Event Highlights How Not to get Hacked: A Conversation with a Cryptography and Cybersecurity Expert Dr. Cédric Jeannot discussed with the audience on the latest technology and tools available for individuals and financial services firms to prevent the leak of their privacy data and information.

Jun 3, 2015 CanCham Boardroom

Water Quality Control in Hong Kong: From Source to Tap Ir. Cary Chan from Swire Properties Ltd, Ms. Debra Tan from China Water Risk, Mr. Kelvin Kwok from Water Supplies Department and Mr. Jason Sylvester from Velocity Solutions Ltd provided members an overview of the Hong Kong drinking water supply from its multiple sources to the measures taken to ensure its purity at your tap. The speakers also shared their idea on the topic of “High Stakes: Asia’s Water, Climate & Energy Challenges”.

Jun 8, 2015 CanCham Boardroom

Oil’s Well That Ends Well? How Oil Prices Will Impact Asia’s Economy Venue Sponsor: Clifton

Given the precipitous and dramatic decline in oil prices recently, this event took the opportunity to identify the key drivers behind the price decline and identify those who stand to gain, and lose, from the economic re-balancing. The speakers brought the audience deeper into this topical, and decidedly Canadian, issue. This event was supported by Brookfield Financial.

Jun 19, 2015 Clifton

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Event Highlights Canadian Consulate General’s Talking Economics Series: Rising interest rates: When, Where and What impact on Real Estate Pricing? The Consulate General of Canada in Hong Kong has proud to launch a “Talking Economics” speakers series to help showcase Canada’s expertise and excellence in the economic, financial and business sectors to influential audiences in Hong Kong and Mainland China. This event was co-organized with CanChamHK’s Property Committee. Jun 22, 2015 Canadian Consulate General Office

Baker Tilly HK & Air Canada Present: Exit Strategy: “How do I manage an Exit for my Business?” Venue Sponsor: Quam Limited

Mr. Adrian Bradbury from Quam Captial Ltd, Mr. Sandeep Sekhri from Dining Concepts Holdings, Mr. John Levack from Electra Partners Asia Ltd and Mr. Brian Lau from Shaw Kwei & Partners had an interactive panel discussion on exit strategy for M&A, IPO, and more. This event was jointly organized by the Entrepreneur and Small Business Committee and Young Professionals Committee.

Jun 25, 2015 Quam Office

CanChamHK Women’s Network Presents: A Midsummer Night’s Networking Cocktail Venue Sponsor: Arts Future Gallery; Sparkling Wine Sponsor: Wine’s Link limited; Fruit Sampling Sponsor: Frutodor

Thanks to the support of the sponsors, the Women’s Network had successfully organized a Midsummer Night’s Networking cocktail where like-minded businesswomen and women entrepreneurs spent the night in sharing business ideas and experiences, connecting businesswomen and women entrepreneurs to be inspired, engaged and connected with each other with Canadian sparkling wines, Canadian blueberries and cherries. Aug 21, 2015 Arts Future Gallery

Young Professionals Committee Presents: Santa Fe Junk Trip Junk Sponsor: Santa Fe, Beer Sponsor: San Miguel

YPC hosted their annual junk trip in late August to welcome YP members back to work. Our participants enjoyed a day out in the ocean with San Miguel beer.

Aug 29, 2015 Santa Fe Junk

40 EXCHANGE Vol.15


Event Highlights Valuing Mineral Resources: Methods and Pitfalls With Mining business being one of the most developed industries in Canada, Mr. Jeremy Peters from Snowden Group presented his view in appropriate valuation techniques and their application, and how to spot an inappropriately prepared Valuation. This event was co-organized by the Canadian Institute of Mining, Metallurgy and Petroleum, China Branch and the Natural Resources Committee.

Sep 15, 2015 CanChamHK Boardroom

Strategic Executive Search Presents: Leadership Series 3 with Mr. John Rice, ViceChairman, General Electric (GE) Mr. John Rice, Vice Chairman of General Electric, discussed with our participants on how company leveraged its considerable strengths to enable a growth strategy based on creating sustainable economic value. He also mentioned the next industrial era and GE’s evolution into a ‘digital industrial company’ answering the needs of customers across key sectors including aviation, energy, healthcare and transportation

Sep 16, 2015 Club Lusitano

Québec: the Creative Economy Mr. Jacques Daoust, Minister of the Economy, Innovation, and Exports Government of Québec, visited Hong Kong in September and hosted a conference where he introduced Québec’s strengths and its major economic projects such as Québec’s maritime strategy and Plan Nord to our audience.

Sep 22, 2015 The Pool House, Grand Hyatt

41


Welcome New Members KZWKZdDDZ^

ŽŶĐŽƌĚWĂĐŝĮĐĞǀĞůŽƉŵĞŶƚ/E͘ DƐ͘dŝīĂŶLJzƵĞŶŚŝŶŐŚĞƵŶŐ͕DĂƌŬĞƟŶŐ DĂŶĂŐĞƌ Dƌ͘<ĞŶŚƵ͕^ĂůĞƐDĂŶĂŐĞƌ Dƌ͘>ĞǁŝƐ>ĞĞ͕^ĂůĞƐDĂŶĂŐĞƌ dĞů͗ϴϱϮϵϮϴϴϯϵϰϬ ƟīĂŶLJΛĐŽŶĐŽƌĚƉĂĐŝĮĐ͘ĐŽŵ͘ŚŬ ǁǁǁ͘ĐŽŶĐŽƌĚƉĂĐŝĮĐ͘ĐŽŵ



y/ŶƐƵƌĂŶĐĞƌŽŬĞƌƐ>ŝŵŝƚĞĚ y/ŶƐƵƌĂŶĐĞƌŽŬĞƌƐ>ŝ Dƌ͘:ŽŚŶ,͘>ĞĞ͕,ĞĂĚŽĨƵƐŝŶĞƐƐ Dƌ :ŽŚŶ, >ĞĞ ,ĞĂĚŽ ĞǀĞůŽƉŵĞŶƚ͕,ŽŶŐ<ŽŶŐ DƐ͘ĂǁŶ^ŽŽ͕ŚŝĞĨtĞůůŶĞƐƐ KĸĐĞƌͬ,ŽŶŐ<ŽŶŐKĸĐĞ>ĞĂĚ dĞů͗ϴϱϮϵϭϳϯϬϭϵϭ ũŽŚŶΛĐdžĂŐƌŽƵƉ͘ĐŽŵ ǁǁǁ͘ĐdžĂŐƌŽƵƉ͘ĐŽŵ

dŚĞĐŽŶŽŵŝƐƚ'ƌŽƵƉ Dƌ͘ĂƌƌĞƩŝŶŐůĞLJ͕ƐƐŽĐŝĂƚĞŝƌĞĐƚŽƌͲ ŽŶƚĞŶƚ^ŽůƵƟŽŶƐ DƐ͘&ůŽƌĂ^Ăŵ DƐ͘EĂƐŚƵĂ'ĂůůĂŐŚĞƌ dĞů͗ϴϱϮϮϱϴϱϯϴϴϴ ďĂƌƌĞƩďŝŶŐůĞLJΛĞĐŽŶŽŵŝƐƚ͘ĐŽŵ ǁǁǁ͘ĞĐŽŶŽŵŝƐƚŐƌŽƵƉ͘ĐŽŵ

ĐŽƚĂŐƐ DƐ͘ZĞŶŝƚĂ<ŽŶŐ͕^ĂůĞƐDĂŶĂŐĞƌ Dƌ͘ŝĐŬƐŽŶ^ƵĞŶ Dƌ͘DŝĐŚĂĞů,Ƶŝ dĞů͗ϴϱϮϮϱϰϴϴϮϳϲ ƌĞŶŝƚĂΛĞĐŽƚĂŐƐ͘ŶĞƚ ǁǁǁ͘ĞĐŽƚĂŐƐ͘ŶĞƚ

&ƌƵƚŽĚŽƌ Dƌ͘>ĞŽŚĞƵŶŐ͕ŝƌĞĐƚŽƌ DƐ͘DĂŶĚLJŚĂŶ͕'ĞŶĞƌĂůDĂŶĂŐĞƌ dĞů͗ϴϱϮϮϱϭϳϴϬϬϲ ůĞŽ͘ĐŚĞƵŶŐΛƉĐƚůƚĚ͘ĐŽŵ ǁǁǁ͘ĨƌƵƚŽĚŽƌ͘ĐŽŵ

42 EXCHANGE Vol.15

dŚĞ,ŽŶŐ<ŽŶŐůĞĐƚƌŝĐŽ͕͘>ƚĚ͘ Dƌ͘dĂŬŚŽǁzĞĞ͕'ĞŶĞƌĂůDĂŶĂŐĞƌ ;ŽƌƉŽƌĂƚĞĞǀĞůŽƉŵĞŶƚͿ DƐ͘DŝŵŝzĞƵŶŐ͕'ĞŶĞƌĂůDĂŶĂŐĞƌ;WƵďůŝĐ īĂŝƌƐͿ dĞů͗ϴϱϮϯϭϰϯϯϴϴϱ ƚĐLJĞĞΛŚŬĞůĞĐƚƌŝĐ͘ĐŽŵ ǁǁǁ͘ŚŬĞůĞĐƚƌŝĐ͘ĐŽŵ

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,ŽŶŐ<ŽŶŐ^ŽƚŚĞďLJ͛Ɛ/ŶƚĞƌŶĂƟŽŶĂůZĞĂůƚLJ DƐ͘&ƌĂŶĐŽŝƐĞĞƚĂŶŐĞƌ͕^ĞŶŝŽƌDĂŶĂŐĞƌ͕ ƵƐŝŶĞƐƐĞǀĞůŽƉŵĞŶƚ͕/ŶƚĞƌŶĂƟŽŶĂů ĐĐŽƵŶƚƐ DƐ͘DĞůĂŶŝĞ<ƌĞƉƉ͕ZĞĂůƐƚĂƚĞŽŶƐƵůͲ ƚĂŶƚ͕/ŶƚĞƌŶĂƟŽŶĂůĐĐŽƵŶƚƐ DƐ͘>ĞƟnjŝĂ'ĂƌĐŝĂĂƐĂůŝŶŽ͕ŝƌĞĐƚŽƌ͕ /ŶƚĞƌŶĂƟŽŶĂůĐĐŽƵŶƚƐ dĞů͗ϴϱϮϯϭϬϴϮϭϳϰ ĨƌĂŶĐŽŝƐĞ͘ĚĞƚĂŶŐĞƌΛŚŬƐŽƚŚĞďLJƐƌĞĂůͲ ƚLJ͘ĐŽŵ ǁǁǁ͘ŚŬƐŽƚŚĞďLJƐƌĞĂůƚLJ͘ĐŽŵ

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>ĂŶĚƐĐŽƉĞŚƌŝƐƟĞ͛Ɛ/ŶƚĞƌŶĂƟŽŶĂůZĞĂů ƐƚĂƚĞ Dƌ͘<ĞŶŐ^ŚŝŶŐ<ŽŚ͕ŚŝĞĨdžĞĐƵƟǀĞΘ &ŽƵŶĚĞƌ Dƌ͘ĚǁĂƌĚŚŝĂŶŐ͕ŝƌĞĐƚŽƌŽĨKǀĞƌƐĞĂƐ /ŶǀĞƐƚŵĞŶƚƐ DƐ͘ŶŐĞůĂ^ĐŚĂĞů͕ŝƌĞĐƚŽƌŽĨƵƐŝŶĞƐƐ ĞǀĞůŽƉŵĞŶƚ dĞů͗ϴϱϮϯϭϬϮϰϴϴϴ ŬƐ͘ŬŽŚΛůĂŶĚƐĐŽƉĞͲĐŚƌŝƐƟĞƐ͘ĐŽŵ ǁǁǁ͘ůĂŶĚƐĐŽƉĞͲĐŚƌŝƐƟĞƐ͘ĐŽŵ

DdZŽƌƉŽƌĂƟŽŶ>ƚĚ Dƌ͘ZŽLJzŝŶŐ͕^ĞŶŝŽƌDĂŶĂŐĞƌͲŽƌƉŽƌĂƚĞ ŽŵŵƵŶŝĐĂƟŽŶƐ Dƌ͘ĚŝdŝŶ^ŚŝŶŐ DƐ͘'ŝůůDĞůůĞƌ dĞů͗ϴϱϮϮϵϵϯϴϱϴϲ ƌŽLJLJŝŶŐΛŵƚƌ͘ĐŽŵ͘ŚŬ ǁǁǁ͘ŵƚƌ͘ĐŽŵ͘ŚŬ

EĞǁtŽƌůĚWƌŽƉĞƌƚLJDĂŶĂŐĞŵĞŶƚ ŽŵƉĂŶLJ>ŝŵŝƚĞĚ Dƌ͘:ĂLJ>ŝƵ Dƌ͘ůĞdž>ĞĞ DƐ͘EĂƚĂůŝĞŚĂŶ dĞů͗ϴϱϮϲϴϮϵϲϬϲϳ ũĂLJůŝƵΛŶǁƉŵĐů͘ĐŽŵ͘ŚŬ ǁǁǁ͘ŶǁĚ͘ĐŽŵ͘ŚŬ

^ŽƵƚŚŚŝŶĂDŽƌŶŝŶŐWŽƐƚWƵďůŝƐŚĞƌƐ>ƚĚ Dƌ͘DŝĐŚĂĞůŚƵ͕ŝƌĞĐƚŽƌ͕'ƌŽƵƉ DĂƌŬĞƟŶŐĂŶĚǀĞŶƚƐ dĞů͗ϴϱϮϮϲϴϬϴϭϲϯ ŵŝĐŚĂĞů͘ĐŚƵΛƐĐŵƉ͘ĐŽŵ ǁǁǁ͘ƐĐŵƉ͘ĐŽŵͬŶĞǁƐͬŚŽŶŐͲŬŽŶŐ


Welcome New Members EdZWZEhZDDZ^  

^ƚƌĂƚĞŐŝĐĞĐŝƐŝŽŶƐ'ƌŽƵƉ,<>ƚĚ Dƌ͘:ƵŐŶƵ^ĂŬƵũĂ͕^ĞŶŝŽƌŶŐĂŐĞŵĞŶƚ DĂŶĂŐĞƌ DƐ͘YŝŶŐ'ĂŶ͕ƐƐŽĐŝĂƚĞŽŶƐƵůƚĂŶƚ Dƌ͘:ŝŵDĂŝůĞƌ͕ĚǀŝƐŽƌ dĞů͗ϴϱϮϲϰϵϭϬϭϭϬ ũƐĂŬƵũĂΛƐĚŐ͘ĐŽŵ ǁǁǁ͘ƐĚŐ͘ĐŽŵ



Śŝůůŝ&ĂŐĂƌĂ DƐ͘dƌĂĐLJtŽŶŐ͕DĂŶĂŐŝŶŐŝƌĞĐƚŽƌ dĞů͗ϴϱϮϮϴϵϯϯϯϯϬ ǁŽŶŐƚƌĂĐLJΛŐŵĂŝů͘ĐŽŵ ǁǁǁ͘ĐŚŝůůŝĨĂŐĂƌĂ͘ĐŽŵ





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,ĂůŽdƌĂǀĞůƐŝĂ>ƚĚ͘ Dƌ͘:ŽŶĂƚŚĂŶƐĂŶLJŝͲ&ƌŝƚnj͕^ĂůĞƐĂŶĚ ƵƐŝŶĞƐƐĞǀĞůŽƉŵĞŶƚDĂŶĂŐĞƌ dĞů͗ϴϱϮϱϱϵϲϭϭϬϮ ũŽŶ͘ĐĨΛŚĂůŽƚƌĂǀĞůĂƐŝĂ͘ĐŽŵ ǁǁǁ͘ŚĂůŽƚƌĂǀĞůĂƐŝĂ͘ĐŽŵͬŝŶĚĞdž͘ƉŚƉ 

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KZWKZd/d/KE>DDZ^ DƐ͘ŽŶŶŝĞ>ĞĞ ^ĞŶŝŽƌDĂŶĂŐĞƌ͕ƌŶƐƚΘzŽƵŶŐ DƐ͘EŝĐŽůĞDƵƐŝĐĐŽ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌŽĨ,ŽŶŐ<ŽŶŐKĸĐĞ͕ KŶƚĂƌŝŽdĞĂĐŚĞƌƐΖWĞŶƐŝŽŶWůĂŶ;ƐŝĂͿ >ŝŵŝƚĞĚ Dƌ͘KůŝǀŝĞƌ>ĂŶŽŝdž ůŝĞŶƚdžĞĐƵƟǀĞ͕<WD' Dƌ͘ZŽŶŚƵŶŐ ^ĞŶŝŽƌWƌŽũĞĐƚDĂŶĂŐĞƌͲ^ƚƌĂƚĞŐŝĐĞǀĞůŽƉͲ ŵĞŶƚ͕>WWŽǁĞƌ,ŽŶŐ<ŽŶŐ>ŝŵŝƚĞĚ DƐ͘^ĂƌĂŚĂŵƉďĞůů ,ĞĂĚdĞĂĐŚĞƌ͕ĞůŝĂ^ĐŚŽŽůŽĨĂŶĂĚĂ

/E/s/h>DDZ^ Dƌ͘ĚƌŝĂŶ^ƚŽŶĞƐ ŝƌĞĐƚŽƌ͕ĞůŽŝƩĞŽŶƐƵůƟŶŐ Dƌ͘ůĞdžĂŶĚĞƌ<ŽǀĂĐƐ ŝƌĞĐƚŽƌ͕KŶďŽĂƌĚ^ŽůƵƟŽŶƐ DƐ͘ůŝĐĞtĂůŬĞƌ dĞĐŚĚƵĐĂƚŽƌ͕ŝŐŝƚĂů,ĂƌďŽƵƌ Dƌ͘ĂŶŝĞůDĂƌƟŶ ƌĞĂƟǀĞŝƌĞĐƚŽƌ͕ĞŶƐĞƌĞ Dƌ͘ĂǀŝĚzŽƵŶŐ ^ĞŶŝŽƌŽŶƐƵůƚĂŶƚ͕^ŝŵŝƚƌŝ'ƌŽƵƉ/ŶƚĞƌŶĂͲ ƟŽŶĂů DƐ͘ŽƌĞĞŶ^ƚĞŝĚƚĞ ZĞŐŝŽŶĂů,ĞĂĚ;WͿ'Žǀ>ŝĂŝƐŽŶ͕,^ DƐ͘ůŝnjĂďĞƚŚŽŶŬĞƌǀŽŽƌƚ ZĞƐŝĚĞŶƚWƌŽŐƌĂŵKĸĐĞƌ͕dŚĞ/ŶƚĞƌŶĂƟŽŶĂů ZĞƉƵďůŝĐĂŶ/ŶƐƟƚƵƚĞ Dƌ͘ƌŝĐŚĞƵŶŐ ŝƌĞĐƚŽƌŽĨWƌŽũĞĐƚƐ͕ƵƌŽWƌŽƉĞƌƟĞƐ DƐ͘:ĂŶŝĐĞzĂƵ ƐƐŽĐŝĂƚĞ͕>WŝƉĞƌ Dƌ͘:ŽƐĞƉŚdŽŶŐ ,ĞŶĚĞƌƐŽŶ>ĂŶĚ Dƌ͘:ƵůŝĂŶ>ĞĞ DĂŶĂŐŝŶŐŝƌĞĐƚŽƌ͕^ƚĂŶĚĂƌĚŚĂƌƚĞƌĞĚ ĂŶŬ;,ŽŶŐ<ŽŶŐͿ>ƚĚ͘ DƐ͘WŽůůLJdĂŶŐ &ŽƌĞŶƐŝĐDĂŶĂŐĞƌ͕:>ƐŝĂ>ŝŵŝƚĞĚ DƐ͘^ĂŶŝnjĂzŽŶŐͲ,ĂƌŽŶ >ĂǁLJĞƌΘDĞĚŝĂƚŽƌΘƵƐŝŶĞƐƐKǁŶĞƌ͕ ^ĂŶŝnjĂ Dƌ͘^ƚĞƉŚĞŶ&ƵŶŐ ^ŽůŝĐŝƚŽƌ͕ĞĂĐŽŶƐ DƐ͘^ƵŶŶLJtĂŝ^ŽŶŐ >ĞŐĂů Dƌ͘sŝǀĞŬŐĂƌǁĂů ŽŶƐƵůƚĂŶƚ Dƌ͘zĂŶŶŝĐŬƐƐĞůŝŶ DĂŶĚŝĚĂƚĞ͕ůĂƐƐŽĨϮϬϭϳ EKEͲWZK&/dDDZ^

 ZĞŶĂƵĚŝƌ^ĞƌǀŝĐĞƐ/ŶĐ͘ Dƌ͘ŚƌŝƐDŽŽŶ͕/ŶĚŽŽƌŝƌ^ƉĞĐŝĂůŝƐƚ dĞů͗ϴϱϮϱϴϬϰϰϳϲϯ ĐŚƌŝƐΛƌĞŶĂƵĚĂŝƌ͘ŚŬ ǁǁǁ͘ƌĞŶĂƵĚĂŝƌ͘ĐŶ

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^ŝŶŽǀĂŶƚĂŐĞ/ŶǀĞƐƚŵĞŶƚŽŶƐƵůƟŶŐ >ŝŵŝƚĞĚ Dƌ͘WĂƚƌŝĐŬďŽƚƐŝ͕DĂŶĂŐŝŶŐŝƌĞĐƚŽƌ нϴϱϮϯϰϲϬϯϭϲϲ ƉĂƚƌŝĐŬΛƐŝŶŽǀĂŶƚĂŐĞ͘ĐŽŵ ǁǁǁ͘ƐŝŶŽǀĂŶƚĂŐĞ͘ĐŽŵ



sŽŝĐĞŽĨƚŚĞ,ĂƌƉ>ŝŵŝƚĞĚ Dƌ͘<ĞŶŶLJ^Ğ͕'ĞŶĞƌĂůDĂŶĂŐĞƌ DƐ͘ŽŶƐƚĂŶĐĞdƐĂŶŐ͕ŝƌĞĐƚŽƌ dĞů͗ϴϱϮϮϳϳϬϮϭϭϴ ŝŶĨŽΛǀŽŝĐĞŽŌŚĞŚĂƌƉ͘ĐŽŵ ǁǁǁ͘ǀŽŝĐĞŽŌŚĞŚĂƌƉ͘ĐŽŵ

DƐ͘ŵĞůŝĂ>Ž dƌĂŝŶĞĞ^ŽůŝĐŝƚŽƌ͕K>E>Ăǁ&ŝƌŵ Dƌ͘ƌLJĂŶEŐ ZĞĐƌƵŝƚŵĞŶƚŽŽƌĚŝŶĂƚŽƌ͕ĂŶŬŽĨŵĞƌŝĐĂ DĞƌƌŝůů>LJŶĐŚ Dƌ͘ŚŝƵ,ŽWŚŝůŝƉEŐĂŶ ^ƚĂīĐĐŽƵŶƚĂŶƚ͕ƌŶƐƚΘzŽƵŶŐĚǀŝƐŽƌLJ ^ĞƌǀŝĐĞƐ>ŝŵŝƚĞĚ Dƌ͘:ĂĐŽďZƵŵďĂůů &ŝŶĂŶĐŝĂůĂŶĂůLJƐƚ͕DŽŶĞdžŽ/ŶŶŽǀĂƟŽŶƐ DƐ͘>ŽƌĞƩĂŚĂŶ ^ƚĂīĐĐŽƵŶƚĂŶƚ͕ƌŶƐƚĂŶĚzŽƵŶŐ ĚǀŝƐŽƌLJ^ĞƌǀŝĐĞƐ>ŝŵŝƚĞĚ Dƌ͘:ĞƌƌLJŚŽǁ ƐƐŽĐŝĂƚĞDĂŶĂŐĞƌ͕ĂŶŬ:ƵůŝƵƐĂĞƌ DƐ͘EŝĚŚŝ^ŚĂŚ &ŽƵŶĚĞƌΘŝƌĞĐƚŽƌ͕ůĐŚĞŵLJŽŶƐƵůƟŶŐ Dƌ͘^ĂƌŵĞŶŽLJĂũŝĂŶ ƐƐŽĐŝĂƚĞ͕:͘W͘DŽƌŐĂŶ Dƌ͘dŽŶLJyŝŶŐ ŶĂůLJƐƚ͕WW/ƐŝĂ/ŶĐ͘ Dƌ͘sŝŶĐĞŶƚ>ĞƵŶŐ DĂŶĂŐĞƌ͕EWWĂƌŝďĂƐ

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Canada Hong Kong Exchange Vol 15 Oct 2015  

Your Chamber Your Legacy

Canada Hong Kong Exchange Vol 15 Oct 2015  

Your Chamber Your Legacy

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