At the end of 2013 Chinese President Xi Jinping announced one of China’s most ambitious foreign policy and economic initiatives, the Silk Road Economic Belt and the 21st-century Maritime Silk Road. It consists of:
The land-based “Belt” – the historic overland Silk Road trading routes that connected China, via Central Asia, to Europe and the Middle East
The oceangoing “Road” – the maritime equivalents to the south, linking China, Southeast Asia, India, Africa and potentially Australia after Chinese President Xi Jinping called in April last year for the alignment of One Belt, One Road with Australia’s northern development plan.
As a medium for accessing niche information and stories, podcasts have seen an explosion over the last few years. You can listen, learn and be entertained whilst driving, going for a walk or taking time out to relax.
SME Radio is producing shows “by SMEs for SMEs” designed to help small business owners reach their potential. Topics including sales and growth strategies, human resources, business succession and doing business with China which I’m delighted to be hosting.
About Aus-China Business Channel
China has seen unprecedented growth over the last three decades and Australia has benefited from the demand for our resources however with strong growth in household wealth, there is increasing demand for a range of services which Australia is well positioned to deliver.
The Aus-China Business Channel (ACBC) will provide SMEs with insights on how to position Australia’s world-class capabilities, providing practical information to help navigate these growth opportunities.
Interview with CT Johnson, General Manager, Basis Point Consulting
CT is the General Manager of Basis Point Consulting, founded in 1996 by David Chin, which provides business intelligence and networking opportunities for participants in the investment and financial markets in Australia and Asia.
In this podcast, CT tells us about his career journey from the US to Russia and working for global company Huawei in China before moving to Australia. He shares insights on the importance of building relationships or guanxi, the do’s and don’ts for business interactions and that a contract is just the start of the negotiations with your new Chinese business partner.
Listen to the Podcast– you can listen to the interview here.
Read the Book – you can access a copy of “Riding the Dragon – managing your Chinese Investors, Partners & Employees” click here.
Sign up for market intel and events on the latest trends – For market intelligence from HMW in China, to property development, investment migration and a range of events on the latest hot topics register your details at the Basis Point website here.
Interview with Cynthia Dearin, Dearin Associates
Have you ever gone to work wearing a bullet-proof vest? Cynthia Dearin has during her career as a diplomat and management consultant in the Middle East! Cynthia is the author or Camels, Shiekhs and Billionaires and in this interview she discusses how she came to be advising SME’s looking to enter into fast-growing markets across the MENA region and now China.
In this episode of Cynthia highlights the differences between market entry strategies for marketing products versus marketing services. She also explains how tools like the Market Entry Strategy Stress Test can help identify areas that may require attention.
Listen to the Podcast– you can listen to the interview here.
Read the Book –if you would like to get hold of a copy of “Camels, Sheikhs and Billionaires “ click here.
Find out about theInternationall Business Accelerator – and other great programs here.
Interview with John Grealy, Doltone House
Doltone House, the iconic conference and meeting venue on the waterfront at Pyrmont and in the Sydney CBD has been extending their offering to the Chinese business incentive conference market.
Check out the website – see the range of venues here.
View our growing suite of interviews to support SME’s doing Aus-China and Aus-Asia business here.
About the Host
Stacey Martin is the founder of Expat Advisors Community network for professionals with internationally connected clients. With an extensive career in financial services and private wealth management, today Stacey consults with SMEs wanting to do business in China, drawing on her experience working with Chinese investors. This includes market entry strategies, facilitating strategic business connections, professional services introductions, and navigating business culture.
The Melbourne Cup is Australia’s most prestigious thoroughbred horse race and the richest “two-mile” handicap in the world. It has an incredible history dating back to the inaugural event in 1861.
Today, the four day Melbourne Cup Carnival at Flemington Racecourse has grown to a locally and internationally supported event, with the highlight being the running of the Melbourne Cup at 3 pm on the first Tuesday in November.
Trophies and Prizes
The first ever prize was 710 gold sovereigns and a hand-beaten gold watch. In 1865 a trophy with a miniature horse and rider atop a silver bowl was introduced and in 1919 the trophy now known as the Melbourne Cup was introduced.
Prize money reached over $1 million in 1985 and in recent years has exceeded $6.2 million, plus a bonus of $500,000 to the owner of the winning horse. The only horse races offering more prize money are the Dubai World Cup with US$10m and the Japan Cup at $6.8m.
24 horses compete and must be at least three years old. The best time was recorded by Kingston Rule in 1990 clocking a still unbreakable record of 3:16:3.
In 2005 Makybe Diva made Melbourne Cup history by becoming the only horse to win the race three times. Over the last decade the field has included many foreign-trained horses.
Check out the annual winners list here. The final field is released after Victoria Derby Day, four days before the Melbourne Cup takes place.
Melbourne Cup jockeys are always the cream of the crop, brought in from around Australia and the world to compete for their aligned trainers. Names like Damien Oliver, Hugh Bowman, Glen Boss, James McDonald, Kerrin McEvoy as well as the International riders all feature on the big day.
Women were not permitted to compete until 1987 saw the first female jockey. Last year Michelle Payne made history as the first female jockey to win the Melbourne Cup, which is currently being made into a movie.
Bart Cummings is known as the ‘Melbourne Cup King’, as he has trained a record number of Melbourne Cup winners since 1965. Bart has won 12 Melbourne Cups, and in five of those wins he also trained the runners-up.
Lee Freedman, from a well-known racing family, trained the winners of the Melbourne Cups in 1989, 1992 and 1995
The Melbourne Cup attracts the best horses from around the world and with them, some of the most famous horse owners both in Australia and internationally. These include:
Tony Santic – from Croatia owner of standout mare Makybe Diva
Lloyd Williams – Just A Dash in 1981, What a Nuisance in 1985, Efficient in 2007 and Green Moon in 2012
Tan Chin Nam – an entrepreneur and developer in Malaysia known for his long racing relationship with Bart Cummings.
Getting dressed up for the Melbourne cup has a long held tradition and is important for fashion retailers providing a boost to the economy.
Being a spring racing carnival, ladies wear bright colourful dresses with a headpiecs, while for gents team a suit with a smart shirt and colourful tie.
Check out this article on evolving fashions over 150 years here.
“Where will you be celebrating the 2016 Emirates Melbourne Cup?”
A public holiday in metropolitan Melbourne, throughout the country and expat communities worldwide there are office parties and booked-out restaurants, pubs and clubs set to watch the running of the Melbourne Cup.
Join us at Doltone House, Hyde Park, Sydney CBD
Companies looking to take our their team, businesses looking to entertain clients, or those that just want to enjoy the camaraderie of the day are invited to join us at the exclusive Doltone House.
With champagne on arrival and the Doltone Chef’s Canape selection, you and your guests will then sit down for a 2-course luncheon with all inclusive beverage package. Plus “fashions on the field”, cup sweep and watching the race that stops a nation!
Stacey Martin, Founder of Expat Advisors Community for professionals with internationally connected clients has been running Melbourne Cup business networking events for the last four years. Check out previous events here.
The report, produced in conjunction with Monash Business School and the Australian Centre for Financial Services, serves to highlight some of the opportunities that may flow to Australia as a result of “China’s Rebalancing” from an infrastructure investment-led, to a consumer demand-driven economy.
Australia’s Finance and Insurance sector
China presents an enormous opportunity to expand it’s current output, share of the economy and jobs. As a major employer of Australian workers and the largest single contributor to corporate tax receipts, expanding this sector through greater trade and investment with China will have a major flow-on impact for the wider economy.
Some of the key messages for the finance sector include:
Financial services is Australia’s single largest industry contributing more gross value to the Australian economy than the mining sector
China could represent up to 19% of Australia’s financial services export market by 2026
China’s share of the financial services export pie is projected to grow from 11% to 16% in 2026, which will result in the growth of more than 110,000 jobs.
“Like healthcare and education, financial services will be a key driver of Australian economic growth over the next decade”.
Continued Opportunities for Growth
Modelling by the Australian Centre for Financial Studies rebuts the view that China’s softening growth will have a predominantly negative impact on Australian trade. In particular:
China’s demand for Australian exports will grow as it modernises its economy and the middle class grows by an estimated 109 million adults
China will claim just over 31% of Australia’s exports by 2025, up from 28% at present
Close to one million new jobs could be created across the five key industries of financial and insurance services, healthcare and social assistance, education, tourism and construction by 2026.
The future of the Australia-China trade relationship is one of both opportunity and challenge. Key opportunities lie in industries other than mining that align with China’s likely growth profile. The rising Chinese middle class presents an opportunity to broaden and deepen the Australia-China bilateral economic relationship in the generations to come with services already accounting for around 75% of Australia’s economic output and some 85% of employment.
Even with a relatively conservative forecast for Chinese economic growth, China appears set to remain Australia’s dominant trading partner. However, the ability to capitalise on Chinese demand will be contingent on policy decisions, such as visa and investment policy, foreign investment screening thresholds, export finance and insurance.
For more information on the report and it’s implications for Australian businesses, contact community member Tim Hogan-Doran from ShineWing Australia or download the full report here.
The Australia Week in China (AWIC) delegates that visited Alibaba’s head office in Hangzhou in April 2016 saw the announcement of an office being set up in Australia. Global President Michael Evans and the local team including James Hudson, previous NSW CEO for Australia China Business Council, have just completed a roadshow.