Speaking to the North America Environmental Technology Mission to Hong Kong

I recently gave a speech on "Hong Kong’s tax advantage for mainland enterprises’ outbound investment" during the Briefing on Hong Kong Platform for mainland outbound investment. In recently years, there is a growing trend of Chinese mainland companies actively seeking overseas investment and cooperation opportunities. Hong Kong Trade Development Council put together a mission for North American companies to visit Hong Kong, Guangzhou, Nanjing and Wuxi from October 28 to November 3, 2011. More than 15 environmental technology companies from North America visited Hong Kong and the mainland to familiarize with the industry in this region and establish contacts with potential investors on the mainland.

Three decades ago, China started to emerge as a leading destination for global sourcing of low-cost goods.  Today, the primary motive of most global investment in China has been about capturing market share in fast-growing urban consumers and a global source of capital. FDI from China alone has surged from roughly US$2.7 billion in 2002 to over US$59 billion in 2010. China’s next five-year plan is likely to call for more than $450 billion in investment to protect the environment. Wastewater treatment companies will be hoping to reap the benefits. China’s investment in environmental protection which includes wastewater treatment and pollution control has reached more than $224 billion during the current 11th five-year plan (2006-2010). With a year to go in the current cycle, the original budget of $219 billion is likely to blow out even further.

More than 50% of the Mainland ODI was invested in Hong Kong or through Hong Kong to overseas. With world class intermediaries and services providers, Hong Kong’s role is to facilitate the communication and mutual understanding between Chinese mainland and overseas companies. Overseas companies could be benefited from services Hong Kong companies offer in facilitating cross border acquisitions and investments activities, including financing, due diligence, business valuation, feasibility studies, risk assessments and other services. And Hong Kong is actively expanding its treaty network. As of now, it has about 21 treaties, 13 of which were signed in 2010.

I see more and more outbound investment from China to the US and other parts of the world in the coming years, and Hong Kong will continue to play an important role in supporting mainland enterprises' global expansion plans.

Women of Influence Awards

The American Chamber of Commerce in Hong Kong and the South China Morning Post organized the eighth Women of Influence Program.  I had the pleasure to join the special half-day conference and awards ceremony to recognize some of Hong Kong’s most outstanding women and their significant impact. This year’s conference was about the importance of connecting, collaborating and inspiring. It highlighted insights, strategies and advice from women who have successfully reached the pinnacle of their careers.

The event was phenomenal! I met successful women who run multinational corporations, women who are great academic achievers, women who help other women and children who live in violent environment. I also met men who are great supporters of diversity and inclusion. It was great to listen to their life experiences and learn from their success stories. On the way back home, I felt so motivated and inspired!  I am going to become the architect of my own career!

AmCham / SCMP Women of Influence Conference & Awards 2011 – Connecting, Collaborating and Inspiring

Confirmed Speakers and Moderators

• Saori Dubourg, President, Asia Pacific, BASF
• Umran Beba, President, Asia Pacific Region, PepsiCo Inc.
• Clare Allum, Asia Pacific Learning & Development Leader, Ernst & Young Tax Services Ltd.
• Shanthi Flynn, VP-HR, Walmart Asia (Moderator)
• Pooja Grover, Managing Director, Investment Banking Division, Goldman Sachs (Asia) LLC
• Karen Koh, Founder & Principal, Intermedia
• Shalini Mahtani, MBE, Founder & Advisor to the Board, Community Business (Moderator)
• Kay McArdle, Board Chair, The Women's Foundation (Moderator)
• Melissa Mowbray-d’Arbela, CEO, Filligent Limited
• Susan Reingold, SVP, Corporate Development, Asia Pacific, Grey Group
• Christine Sim, General Manager, Links Recruitment Singapore
• Lizette Smook, Founder & CEO, InnovAsians Ltd.
• Prof. Agnes Tiwari, Head, School of Nursing, The University of Hong Kong
• Caroline Wong, Executive Director, Corporate Communications, Morgan Stanley

Program

Opening Keynote: Saori Dubourg, President, Asia Pacific, BASF

Luncheon Keynote: Umran Beba, President, Asia Pacific Region,PepsiCo Inc.

Three Concurrent Breakout Sessions:

A) Personal Stories: Becoming the Architect of your Career

Karen Koh, Founder & Principal, Intermedia

Melissa Mowbray-d’Arbela, CEO, Filligent Limited

Prof. Agnes Tiwari, Head, School of Nursing, The University of Hong Kong

Kay McArdle, Board Chair, The Women's Foundation (Moderator)

B) Strategies for Success: Making Connections with Mentors, Sponsors and Networks

Pooja Grover, Managing Director, Investment Banking Division, Goldman Sachs (Asia) LLC

Christine Sim, General Manager, Links Recruitment Singapore

Lizette Smook, Founder & CEO, InnovAsians Ltd.

Shanthi Flynn, VP-HR, Walmart Asia (Moderator)

C) Pursuing your Passions: Getting the Most out of Life

Clare Allum, Asia Pacific Learning & Development Leader, Ernst & Young Tax Services Ltd.

Susan Reingold, SVP, Corporate Development, Asia Pacific, Grey Group

Caroline Wong, Executive Director, Corporate Communications, Morgan Stanley

Shalini Mahtani, MBE, Founder & Advisor to the Board,Community Business (Moderator)

Presentation of the 2011 Women of Influence Awards

Entrepreneur of the Year, Professional of the Year, Master in Charity, Arts or Culture, Champion for the Advancement of Women, and Best Company for Women.

Hanoi, Vietnam

I always wanted to visit Vietnam.  I managed to find time to go to Hanoi for a vacation this year.  Hanoi, the capital of Vietnam and the country's second largest city, is a fascinating blend of East and West.  While there are significant Chinese influences, many of the buildings have French design from its colonial past.

It was right before Tet, the Lunar New Year in Vietnam. Tet is celebrated on the same day as Chinese New Year.  Vietnamese people were busy preparing for the most important festival of the year…buying new clothes and shoes, making special cuisines for the holiday, cleaning the house, planting special plants.  It was great to feel the tradition and culture of the city.

I visited the Ho Chi Minh Mausoleum, it reminded me of the Ma Zedong Mausoleum in Beijing…no talking, must walk within the lines, no shorts, no photos inside, and etc.  The Temple of Literature is a very nice temple to visit. It was founded in 1070 and established as the country's first university six years later. The courtyard features numerous stone tablets, each mounted on the back of a tortoise, with the names of graduates. All the characters in the temple are in Chinese!

What I like the most is the local food. My college friend, who is Vietnamese and works at the Bank of Vietnam, showed us some really nice local cooking.  Vietnamese cuisine uses a diverse range of herbs like lemongrass, mint, long coriander and Thai basil leaves.  As distinct as Vietnamese cuisine is, it has been influenced by several sources, like Chinese, French, India, and Thailand, to name a few.  I greatly enjoyed the freshness of the ingredients as well as the healthy eating style.

2011 Deloitte China National Tax Conference

I attended the 2011 Deloitte China National Tax Conference which was held in Shanghai, China this September. I was honored to receive the Strategic Value Award and the As One Behaviour Award from the China firm.

  

It was such a pleasure traveling back to Shanghai, the city is the financial center of China, and I greatly enjoyed my time working there from 2009 to 2010 when I was seconded by Deloitte US firm. It was good to return and visit old friends.

Shanghai is an interesting mix of old and new, a walk along the Bund is great insight into this with buildings built over 100 years ago and across the river there are modern skyscrapers built very recently, often right in front of your eyes.

The Conference was great and the city is amazing, I always look forward to traveling back to Shanghai. It is such a dynamic city!

AmCham Hong Kong Speech

With China moving up in the world stage, Chinese state owned enterprises and private companies are investing overseas.  Foreign Direct Investment ("FDI") from China alone has surged from roughly US$2.7 billion in 2002 to over US$59 billion in 2010. US remains one of the most attractive countries to invest in for the Chinese.

Deloitte and AmCham Hong Kong co-organized series of "Invest In the US" seminars. I spoke at the seminars on overall of US tax systems, M&A in the US, investment structuring, financing, and etc.  The seminars were great, we had a full room with people who are either already invest in US or are there to lean about doing business in the US. I look forward to speaking at the next seminar.

Kuala Lumpur, Malaysia

I attended the Deloitte South China Tax Partner and Manager Retreat held in Kuala Lumpur, Malaysia  in July 2011. The conference is a terrific opportunity for us to review our plans, share some of the key initiatives of the firm and enjoy some team building activities together.

It was a good experience to travel to Kuala Lumpur, the city is the cultural, financial and economic center of Malaysia, and it is home to the tallest twin buildings in the world, the Petronas Twin Towers. The city is an interesting mix of Malays, Chinese and Indians which have produced a great variety of foods, one of my favorites is Nasi goreng.

The Conference was informative and the city is interesting, I look forward to traveling back to Malaysia in the future.

Deloitte China 2010 Tax Conference

I attended the Deloitte China Tax Conference held in Shenzhen in late 2010. It was a phenomenal event that summarized the past year we had as a firm and outlook for the new year.  Our new motto - AS ONE TO BE NUMBER ONE.

Multi-cultural Team Building at AP ICE

Around-The-World Dinners

I am a Manager at Deloitte AP ICE US Desk in Hong Kong, AP ICE stands for the Asia Pacific International Core of Excellence which was established in June 2010 to provide international tax consulting services to Asia Pacific based companies investing abroad as well as multinational companies investing in Asia Pacific.   

I work in a group comprised of senior professionals from Belgium, Germany, France, Luxembourg, Ireland, the Netherlands, UK, Canada, US, Singapore, Japan, Korea, Taiwan, China, and India – as you can see it is a mini United Nations.

We all travel for work quite often, but every month, we schedule a team meeting in Hong Kong. It is a group strategy meeting followed by a dinner hosted by one of the country representatives from  AP ICE. I find that these meetings are beneficial because they give our team time to refocus on our core strategies and talk about what has worked for us as well as areas to improve.

And the fact that each month is hosted by different country making up our team gives us a chance to learn something more about their culture, while relaxing over a group dinner.  Over the past year, I have had dinners hosted by Japan, France, Luxembourg, India, Germany, US, Canada, Korea and the UK.

It even helps overcome some previous myths – for example I recently attended the United Kingdom’s dinner and the Deloitte partner representing the UK explained the different dishes to us and I actually enjoyed UK foods including the BLOOD PUDDING!!!

These dinners are great team building events for our multi-culture environment!