Do you go to lots of events? Hear great ideas but then can’t remember or don’t put into action?
These days it is not uncommon to see audience members on their devices during a speech. We used to think that was rude, but I love the anecdote of the speaker that called out an audience member who was actually tweeting how amazing the speaker was!
The Australian Chamber of Commerce (AustCham) is the peak body for Australian business in China. CEO Udo Doring from AustCham Shanghai spoke in Sydney recently providing his personal views on how business is going from insights working with their 400 members.
Why take part in an Australian business delegation?
According to David Thomas, Founder of Think Global and more recently the Australia China SME Association, having led the Australian mission to the Asian Financial Forum (AFF) over the last seven years, the benefits according to more than 200 delegates can be summarized into three key areas:
Enormous value – instead of lying on the beach in January, attending the AFF is an inspiring start to the year. You get to hear from some incredible speakers you wouldn’t hear anywhere else such as the chairman of Wanda Group sharing his global vision.
Making connections – coming back with a mountain of business cards, with almost 3,000 delegates from Asia and around the world. Many want to do business in Australia and are seeking out those who can build a bridge.
Team Australia – relationships with other delegates, looking out for each other and scouting opportunities, plus of initial and ongoing business opportunities.
Hong Kong Trade and Development Corporation (HKTDC) host this global finance and business forum at the start of each year with world leaders, economic insights and business matching co-hosted with the Hong Kong Venture Capital Association.
The 2016 event “Asia: Shaping the New Paradigm for Growth” shaping global business and finance included speakers such as Ben Bernanke, former Chairman of the US Fed and Stuart Gulliver, Group Chief Executive of HSBC, who said the conference was very important in focusing on Hong Kong as a leading Asia Pacific financial centre.
For 2017 the theme is for the 10th Asian Financial Forum is “Asia: Driving Change, Innovation and Connectivity.”
Day one includes speakers from the International Monetary Fund, S & P Global Ratings, Japan’s Government Pension Investment Fund, Minister of Economic Affairs and Finance, Iran, China-ASEAN Investment Cooperation Fund and China UnionPay.
Day two sees topical and sector specific workshops covering payment technology and cyber security, Health Insurance and Technology, Insurance and Actuarial Regulatory Developments, Infrastructure Financing, Private Investment and Wealth Management, the ASEAN and Middle-East investment outlook and China-India economic partnership and integration.
The event is supported by the Australian and Hong Kong governments
Australian Trade Commission
Bing Liu has recently returned from China and shared the key priorities for Austrade in terms of the Financial Services sector:
RMB Internationalisation – Australia is now a hub for RMB clearing
Wealth Management – today we have the first generation experiencing a rapid increase in wealth, generating opportunities for Australias wealth management capabilities
Infrastructure investment – the One Belt One Road project
Fintec – financial technology and disruption is a stong economic driver going forward.
Invest Hong Kong
Luca de Leonardis, passionate about Hong Kong explained, at historic Hong Kong House in Druitt St Sydney, the various government bodies available to help including setting up an office in Hong Kong and arranging business introductions.
Invest Hong Kong also runs StartmeupHK, an integrated one-stop initiative to bring global entrepreneurs to Hong Kong, including government incentive and incubation schemes, accelerators, angels and VCs.
Hong Kong Trade and Development Council
Bonnie Shek shared some key stats on Hong Kong and the AFF:
Financial Centre – world’s top IPO market, Asia’s second largest private equity centre, leading fund and asset management in Asia with US$2.27 trillion combined business, 70% of which are from non-Hong Kong investors, and gateway to 4.7 million high net worth individuals.
Foreign Direct Investment – cumulative outward FDI reached US$880 billion Chinese Mainland Close to 60 ％ of Chinese investments directed to or channeled through Hong Kong
Top-notch Speakers – including leading global financial institutions and corporates, governments, world renowned institutions and academia.
Attendees – 38% financial services, 36% corporates with the balance chambers and associations, government, regulators and academia.
You can see more insights from the HKTC AFF presentation here.
But what do previous delegates have to say?
Ben Weeding, despite having lived and worked in Singapore and Japan thought he knew Asia. Speaking to those on the ground and presenting at mission event to expats in Macau re-shaped his focus at Buyside on the needs of property investors and commercial opportunities.
Jennifer Fong, having helped more than 10,000 inbound migrants got to meet key influencers, took “selfies” whilst positioning Visacorp and Migration Alliance.
Peter Black, whilst having no commercial objective gained insights on doing business in China, how to navigate technology and today can offer constructive input to his business and executive clients via Alchmey Group who are looking to do business with the Chinese.
You can read Peter’s blog from the 2015 mission including a review of “Inside the Chinese Mind” here and view other delegate testimonials from January 2015 here and January 2016 here.
How to participate
If you have or are exploring an Asia growth strategy, are seeking distribution or referral partners or capital for projects and would like to connect with Chinese investors you should consider attending the delegation.
Having attended the last four business missions hosted by Think Global, Stacey Martin is delighted to take the reigns from David Thomas in leading this year’s delegation.
Stacey is an Aus-China Consultant and founder of the Expat Advisors Community network. With an extensive career in financial services and private wealth management, 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 and professional services introductions and navigating 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.
Network for professionals with international clients