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January 30 2019, Issue 245 NT secretariat (08) 89270061, GPO BOX 2769, Darwin NT 0801 NT President’s observations In the lead-up to the Opium Wars, the leading British opium merchants, including Jardine and Matheson, orchestrated a letter-writing campaign to the London Times. These carefully crafted letters made many false assertions and were designed to create both an anti-Chinese sentiment and to prepare the ground for military action. This letter writing campaign was the 1839 equivalent of the twitter tirades we see today and the carefully planted media stories from anonymous sources. If lies and distortions are repeated long enough, loudly enough and frequently enough then it becomes extremely difficult to separate out the truth from the fiction. Social media offers unparalleled opportunity to amplify unsubstantiated or poorly substantiated assertions and like any complex web of lies, it’s a tedious process to unpick the deceits. Social media has infiltrated and influenced the standards and practices of mainstem media reporting, particularly in Western countries. It’s not really that important if this is confined to the gossip columns, but it is very significant when this begins to contaminate the formulation of policy. Economist Stephen Roach, speaking at Morgan Stanley’s annual Asia Pacific Summit in Singapore questioned the ‘‘facts’’ used to support arguments that China is stealing intellectual property and using joint ventures to force the transfer of US technology to China. He said it was worrying that the estimate of trade secrets theft was between $US180 billion and $US540 billion. This wide estimated range would not be tolerated in any sound economic analysis. ‘‘They have developed these models that allow them to use proxies to guess how much has been stolen in trade secrets. The US Custom and Border Control seized $US1.35 billion of counterfeit and pirated goods in 2015. They attributed about 85% to greater China. They extrapolated that to claim China is stealing of $180 billion to $540 billion in IP,” he said. “But we don’t have the evidence.’ Also, he said there is no hard evidence to support the claim that China uses joint ventures to force the transfer of US technology to China. These allegations were contained in a 183-page report ‘‘Findings of the Investigation into China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property and Innovation under Section 301 of the Trade Act 1974’’. ‘‘So you read the report and they say, maybe buried in some obscure footnote, we don’t really have any evidence it was forced,’’ Roach said. Unfortunately, truth will not naturally prevail in this global gossip village and the contagion spreads. The Australian Foreign Review Investment Board has now reportedly decided that investment by any Chinese company is a potential threat because it claims all Chinese companies are ultimately controlled by the State. It would be a comedy skit if it were not so serious. From here it’s a short step to saying that every Chinese student is a Chinese spy – a proposition that has already been suggested by some academics who allege that Confucius Institutes are hotbeds of spy activity. The implications for business and investment are serious. Popular ignorance does not distinguish between mainland Chinese and the Chinese diaspora. Security driven paranoia does not distinguish between Chinese capital and joint venture capital. This is a dangerous paranoia that will impact on business and investment in the Northern Territory and elsewhere. As you can see from the newsletter, there are many functions over the Chinese New Year period. ACBC members are all invited and welcome to attend. Happy New Year. Xin Nian Kuai Le! 新年快乐! Daryl Guppy, President, NT Branch, Newsletter editor
China Culture and language notes – CHINESE NEW YEAR – YEAR OF THE EARTH PIG The Chinese New Year of 2019 falls on February 5th Tuesday), and the festival will last to February 19, about 15 days in total. As an official public holiday, Chinese people can get five days' absence from work, from February 4th to 8th. This will give a 9 day holiday break, including weekends. The Lantern Festival is the traditional end of the New Year period on February 19th . These Earth Pigs are social butterflies with friends from all walks of life. They have a lot of support in both work and life. They have fortunate lives and can find happiness. They are successful later in life. However, they aren’t the most romantic people and might need to work on that. Men born in the Pig year are optimistic and gentle. They are very focused. Once they decide on a goal, they’ll put everything into it. They are not the best with money. Though cool-headed, they are also gullible. They trust others easily and are often scammed. This can cause them to lose a fortune. These men are also quiet. They love learning but don’t really know how to put their knowledge into words. They’re not conversationalists, but treat everyone warmly. This results in a large social circle. Whenever they run into difficulties, there are always people who stand up to help. Though people will lie to them, more will love them. Women born in the Pig year are full of excitement. They attend social events whenever possible and treat everyone genuinely. Combined with their easygoing personality, they gain everyone’s trust. However, they are sometimes over-friendly. In their excitement, they can forget to give others personal space. They also have good fortune with wealth. As long as they keep at it, the efforts will not go to waste. Though they don’t start with an advantage, their hard work will keep money flowing in. At home, they are highly organized. If the room is messy, they’d stay up the entire night to clean it up. These women love children too. Playing with children is one of the things that bring them the greatest joy. Chinese New Year or Spring Festival 春节 or Chun Jie, or the Lunar New Year 农历新年 Nónglì xīnnián, is the most important of the traditional Chinese holidays. The festival traditionally begins on the first day of the first lunar month in the Chinese calendar and ends on the 15th; this day is called the Lantern festival 元宵节 yuánxiaojié. Chinese New Year's Eve is known as Chuxī (除夕). Chu literally means "change" and xi means "Eve". Happy New Year Xin Nian Kuai Le 新年快乐. This is a contemporary greeting reflective of western influences, it literally translates from the greeting "Happy new year" more common in the west. But in northern parts of China, traditionally people say simplified Chinese: 过年好; Guo Nian Hao instead of Xin Nian Kuai Le to differentiate it from the international new year.
Gong Xi Fa Cai 恭喜发财 is the same as Cantonese: Gung hei faat choi or Hakka: Kung hei fat choi, which loosely translates to "Congratulations and be prosperous". This is often mistakenly assumed to be synonymous with "Happy new year", but its usage dates back several centuries. While the first two words of this phrase had a much longer historical significance the last two words were added later as ideas of capitalism and consumerism became more significant in Chinese societies around the world. The saying is now commonly heard in English speaking communities for greetings during Chinese New Year in parts of the world where there is a sizable Chinese-speaking community, including overseas Chinese communities that have been resident for several generations, relatively recent immigrants from Greater China, and students. Red Packets Red envelopes 红包 (Hong Bao) are often presented at social and family gatherings such as Chinese weddings or on holidays such as Chinese New Year. The red colour of the envelope symbolizes good luck. The money amount contained usually begins with an even digit, as odd numbered money gifts are associated with funerals. During Chinese New Year, red envelopes are typically given to the unmarried by the married, regardless of age. There are no clear literary sources from which to date the origin of the red envelope tradition. In China, during the Qing Dynasty, elders would tie coins together with red string. These were called yasui qian meaning "pressed money", and were believed to protect the elderly from sickness and death. The yasui qian were replaced by red envelopes when printing presses became more common after the establishment of the Republic of China in 1911. Hong Bao. The literal translation is Red Packet, but Hong Bao 红包 has taken on a slightly different meaning. It is often used to describe an annual bonus paid to employees. This is a 13 th month of pay for the year. The size of hong bao is important. It gives face and is a reward for effort during the year. The Spring Festival period has increasingly become a period where staff change jobs. A small or inappropriate Hong Bao may be enough to encourage staff to leave. Many employers wait anxiously after Spring Festival to see if all their staff will return. If you have employees in China it is important to carefully consider how you will handle Hong Bao. NEW YEARS EVE (February 4) REUNION DINNER This is the most important and cheerful day. People will paste the Spring Festival couplets, Gods of Gates and New Year pictures. Even though, modern people seldom do these things in time order as ancient people did, they still keep the custom of pasting the couplets. When all couplets are pasted, the festive atmosphere will be filled in every corner in China. The family reunion dinner, Chinese New Year TV gala and staying up all night on its Eve are also traditional festivities. Similar to the Christmas dinner in western countries, the New Year reunion dinner has significant meaning to Chinese people, because it is the time that all family members reunite together. The most important food in this dinner is the dum pling, which is very popular in the northern part of the country. Niangao and rice dumplings are eaten by people in southern part of the country. Besides, various Chinese New Year foods are served on that night such as fish, spring rolls and so on. At midn ight, many places will strike bells to pray for the next smooth year, and people will set off fireworks.
Chunlian First day of the new year Setting off firecrackers to chase off bad spirits is the first thing to do after people get up on the first day. After the firecrackers, it is time for the first meal of the year, which is as important as the reunion dinner for most Chinese people. Most people choose to eat dumplings, in hope of making fortune in the future, b ecause the shape of the dumpling is similar to the gold ingots used as currency in ancient time. People in Fujian prefer to eat noodles, because the noodle is the symbol of longevity in local culture. After the meal, it is the happiest time for the younger generations, because they can get red envelopes from the older generations. The first day is also a time to pay a New Year’s visit as well as send blessing to the senior members of extended families and other relatives. Now the methods of sending blessing are changing and many through text messages and e-mails, as well as phone calls. The first day is for the welcoming of the deities of the heavens and earth. Many people, especially Buddhists, abstain from meat consumption on the first day because it is be lieved that this will ensure longevity for them. Some consider lighting fires and using knives to be bad luck on New Year's Day, so all food to be consumed is cooked the day before. Most importantly, the first day of Chinese New Year is a time when famili es visit the oldest and most senior members of their extended family, usually their parents, grandparents or great-grandparents.
Some families may invite a lion dance troupe as a symbolic ritual to usher in the Lunar New Year as well as to evict bad spirits from the premises. While fireworks and firecrackers are traditionally very popular, some regions have banned them. As a substitute, large-scale fireworks have been hosted by governments. Often the noise of firecrackers is replaced with the noise of b alloons being popped. Second day of the new year Incense is burned at the graves of ancestors as part of the offering and prayer ritual. The second day of the Chinese New Year is for married daughters to visit their birth parents. Traditionally, daughters who have been married may not have the opportunity to visit their birth families frequently. On the second day, the Chinese pray to their ancestors as well as to all the gods. They are extra kind to dogs and feed them well as it is believed that the second day is the birthday of all dogs. Third and fourth days of the new year The third and fourth day of the Chinese New Year are generally accepted as inappropriate days to visit relatives and friends due to the following schools of thought. People may subscribe to one or both thoughts. 1) It is known as "chì kou" 赤口, meaning that it is easy to get into arguments. 2) Families who had an immediate kin deceased in the past 3 years will not go house -visiting as a form of respect to the dead. The third day of the New Year is allocated to grave-visiting instead. Some people conclude it is inauspicious to do any house visiting at all. Fifth day of the new year In northern China, people eat Jiaozi 饺子 (dumplings) in the morning of the fifth day. This is also the birthday of the Chinese god of wealth. In Taiwan, businesses traditionally re - open on this day, accompanied by firecrackers. Happy New year! Xin nian kuai le 新年快乐! Wishing Prosperity and Success Gong Xi Fa Cai 恭喜发财! This gift is for you Zhe ge li wu shi song gei ni 这个礼物是送给你 Thank you very much Fei chang gan xie 非常感谢 Compiled by Daryl Guppy from multiple sources PROPOSED NT ACBC EVENTS 2019 • Coordinate Chinese food delegation to Darwin February • Executive and members/Friends ACFS etc briefing Foreign Influence bill (Cross organisation briefing IBC/Chamber/ Indonesian/India?) • Assist with Pacific Confucius Institute meeting in Darwin in April • Invite Chief Minister (as Trade Minister) to brief members and guests on China engagement strategy • Invite Lord Mayor Vatskalis to brief members and guests on China engagement strategy • Luohe Food Expo - May • NAB -China- Trade tensions and investment Opportunities • One Belt One Road Expo Xi’an - May • Investment/Trade expo in Darwin for Shenzhen (NTG) • Canberra Networking Day • NT expo in Shenzhen (NTG) • Australia Week in China • China International Import Expo - CIIE Shanghai November
Warm greetings from Chongyang Institute for Financial Studies, Renmin University of China(RDCY). Silk Road School was launched last year in Suzhou, Jiangsu Province, jointly organized by Chongyang Institute for Financial Studies (RDCY), School of International Studies, and Suzhou Campus of Renmin University of China. They already started the courses of Master of Contemporary Chinese Studies (MCCS) at Silk Road School in Suzhou, a two-year English master's program. Now we are working on this MCCS program promotion domestically and internationally, If possible, we would like to ask you for some recommendation of young students to participate into this project. For the further details about Silk Road School enrollment, please find attached the program overview. (Please email acbcnt@acbc.com.au for: 1. Silk Road School Program Overview For Scholarship to Study In China 2019 2. Silk Road School brochure 3. Introduction of Renmin University of China (RUC) More details available on http://rdcy-sf.ruc.edu.cn/ Silk Road School: http://srs.ruc.edu.cn/ Online Application (before March 30th, 2019): http://silkroad.school Application Schedule: Cut-off date for online applications: March 30, 2019 Interview online: April, 2019 Letters of admission sent out: June, 2019 Semester begins: September, 2019 Contact person: Miss Wu Yinxuan Tel.: 86-010-62516305*8003 Email: srsruc@ruc.edu.cn
For more information contact Edward.Shangcl@qq.com in English. Details on www.foodexpolh.com
CENTRAL CHINA INVESTMENT AND TRADE EXPO – May 2019 The Chinese Embassy advises that this expo is open. We sincerely invite you to the 11th Central China Investment and Trade Expo (Expo Central China 2019) to be held in Nanchang, Jiangxi Province, from May 18th to 20th, 2019. Themed on “High-level Opening up, High-quality Development”, the Expo will hold events on policy discussion, industrial cooperation, project matchmaking, exhibition and presentation etc. The Expo aims at building a platform for industrial transfer, investment and trade cooperation, to enhance comprehensive cooperation between Central China and the rest of the world, so as to build up a new highland of opening-up for the inland area, promote prosperity of Central China and realize high-quality development in the new era. This is supported by MOFCOM. We look forward to your presence. Activity information will be kept updated, for the latest information, please refer to the Official Website: http://expocentralchina.mofcom.gov.cn/1800000608_10000098_8.html Session: May 18-20, 2019 Theme: High-level Opening up, High-quality Development Venue: Greenland International Expo Center, Nanchang, Jiangxi Theme Activities □Promotion Meeting for the Investment Environment of Central China and Project Cooperation □Key Projects Presentation □Report on the Prospects of Transnational Corporations □Financial Forum on the Development of Central China □Health Industry Development Forum of Central China □Cultural Tourism Integration Development Forum of Central China □Circular Economy Development Forum of Central China □Other activities held by the provinces of Central China Contacts: Mr. Chen Xing, Mr. Huang Shanbin Tel: +86-791-86246457 +86-791-86246458 Fax: +86-791-86246450 Email: investment@jiangxi.gov.cn An In-Market Presence in China http://www.acbc.com.au/podcasts Synopsis: In this episode we speak with Danny Armstrong, Managing Partner from ShineWing Australia, on the need and benefits of an in-market presence in China. We look at what a business needs to consider in having boots on the ground in China, how an e-commerce channel can test the waters of your product, the proposition of leapfrogging the competition in 3rd and 4th tier cities and the process of transferring funds out of China. Upcoming Episodes Natalie Cope - Australia China Youth Dialogue Linda Jacobson (China Matters) - Tracking the bilateral relationship David Gulasi - Life as a China KOL
CHINESE PROVINCES AND MAJOR CITIES We all know Beijing, Shanghai, Guangzhou, Shenzhen, Xi’an. Depending on the work we do we might also be aware of Nanjing, Nanning, Tianjin, Chongqing, Hainan, Qingdao and perhaps 3 or 4 other Chinese cities. When we hear of other place names like Chengde we are not sure of their size or significance. Over the next few issues we bring you a comprehensive list of provinces and their major cities. These are cities of 3 to 10 million. Each offers a potential market outside of the crowded headline Chinese cities.
ACBC ANNUAL REVIEW 2018 The latest edition of the ACBC Annual Review has been posted to all ACBC NT members and is available online. The review covers ACBC activities in 2018 across the nation, with detailed accounts of past events and words from our branch presidents. We are pleased that this Review includes extensive coverage of the One Belt One Road conference in Darwin. http://acbc.realviewdigital.com/#folio=74 If you have not received your copy then please download from http://acbc.realviewdigital.com/#folio=70 The Review also includes the ACBC engagement with the Silk Road Chambers of International Commerce. This initiative is led by the NT. http://acbc.realviewdigital.com/#folio=38 Hard copies are available from the ACBC NT office. Please email acbcnt@acbc.com.au if you require copies. ACBC NT WELCOMES NEW AND CONTINUING MEMBERS YK Australia Brother Pty Ltd Belinda Hu, belindahu88@163.com Have your member business profile included in the newsletter. Send details to acbcnt@acbc.com.au NT ACBC Branch Meeting Dates 2019 First 2019 meeting Feb 6 Meeting venue is kindly provided by Deloitte NT. Meetings are open to all members of the ACBC, not just the committee members. Most matters discussed at the meeting are passed by general agreement. All members are encouraged to contribute ideas to the discussions. Current proposed meeting dates are: Dates Time 6-Feb 8-9 AM 20-Mar 8-9 AM 1-May 8-9 AM 12-Jun 8-9 AM 24-Jul 8-9 AM 4-Sep 8-9 AM 16-Oct 8-9 AM 27-Nov 8-9 AM 2018-2019 NT ACBC Executive Daryl Guppy - Guppytraders.com (President / National Board Member) China@guppytraders.com Willem Westra Van Holthe – Primary Consulting International (Vice President) willem.westra@bigpond.com Justin Gill – Adobe Homes (Vice President) jg@newabode.com.au Kelvin Chan – Ausyn Education (Vice President) marketing@asedu.com.au
Richard Ting – Darwin City Hotel (Treasurer) hdting@yahoo.com Joseph Aladin - Deloitte Touche Tohmatsu jaladin@deloitte.com.au Gloria Chang - Nidus Innovation and Enterprise Pty Ltd gloria.chang@nidus-aus.com Martin Kelly – Finlaysons Martin.Kelly@finlaysons.com.au Ex-Officio members Wayne Fan/ Chris Mouat – Department of Business Cecila Brennan - Dept. of Foreign Affairs and Trade Austrade - Martin Ferreyra NT Tourism – Daryl Hudson Lisa O'Donoghue – South Australia Liaison We are keen to hear your success stories Are you enjoying success in China? If so, please share with us your success in the Australia China business space, Your story could inform and inspire others. We are happy to narrate your success stories in our newsletter. Enquiries at acbcnt@acbc.com.au China News reports that did not make it into the local media. China doubles quota for inbound foreign investment China will double the amount of mainland equities overseas institutions can buy through the country’s main foreign investment channel, the foreign exchange regulator said, making further progress on commitments to boost financial market access. Caixin reports that the quota for participants of the Qualified Foreign Institutional Investor (QFII) program, founded in 2002 as a limited route to Chinese A-shares, will rise to $300 billion from $150 billion, effective immediately. This will be the first quota increase in over five years, when the limit was raised from $80 billion. China has been making efforts to open its markets to outside capital, partly due to pressure from overseas administrations but also to reverse a grim period of decline for onshore equities. China’s two main stock indices were among the worst performing in the world in 2018. Investment in China’s real economy should drive lending, urges central bank official Chinese banks must actively increase funding for the real economy and not wait for the government’s direction to boost lending, said the head of the People’s Bank of China’s monetary policy. In a commentary in the central bank’s China Finance Magazine, Sun Guofeng wrote that problems with capital replenishment, bank liquidity gaps and poor rate “transmission” were three major constraints on banks’ credit supply, according to Reuters. Banks also face “changes in the foreign exchange situation” which place mid- and long-term limits on banks’ liquidity, Sun said, adding that the bank is working to ease these limits on credit availability. “If capital is not replenished in a timely manner it can restrict reasonable credit availability for the next stage” of lending, Sun wrote. China’s economic growth falls to lowest in 28 years The Chinese economy grew 6.6% last year, according to official figures released on Monday, slowing from 6.8% in 2017 and marking the slowest yearly rate since 1990, Reuters reports. Gross domestic product grew 6.4% year-on-year in the fourth quarter, down from 6.5% in the previous three months. The widespread effects of an economic slowdown combined with overseas threats to trade continued to weigh on activity towards the end of the year, despite a push from policymakers to revive domestic demand. Many analysts expect the slowdown to extend well into 2019, with some suspecting that China’s real growth rate is actually much weaker than official reports. Also included in the data release was an uptick in industrial output growth in December compared with a year earlier, at 5.7%. Fixed-asset investment and retail sales both grew close to market forecasts but remain at the slowest pace seen in decades. For more China business news and information, visit www.chinaeconomicreview.com
PROPOSED NT BRANCH CHINA BUSINESS BRIEFINGS 2019 The Business Briefings in 2019 and be provided free of charge for members only. Visitors are welcome to attend, but a small $20 fee is payable. (Free if you join ACBC at the briefing) . Briefings run for about 60 minutes. Business Briefing sponsorship options are also available. For more information, or requests for specific briefing topics, please contact ACBC Secretariat on 89270061 or acbcnt@acbc.com.au GOT A CHINA STORY TO TELL? READ A GOOD CHINA BOOK - SEND US YOUR NEWS OR VIEWS You are a valued member of the Australia China Business Council and we are keen to receive news on your business activities that we can published on our national website or in our NT newsletters. Do you have an amusing, or interesting or cautionary tale. Drop us a note for the newsletter. Send us a email at acbcnt@acbc.com.au ACBC NT OBJECTIVES We aim for these services for ACBC NT members: • To assist members to understand the nature of the business environment in China and where relevant opportunities lie. • To raise the profile of ACBC NT members within the NT and Chinese business environment • To share information regarding industry issues in the China market. • To assist in generating business between member businesses. • To facilitate co-operation with the China Council for the Promotion of International Trade in relation to business issues. • To present the views of NT SMEs operating in China to government authorities and other business groups where appropriate. • To share market and economic intelligence and insights on critical industry issues. • To create and maintain a collaborative community of business owners that can draw on each other for support in their engagement with China. • To work in a collaborative community of Chinese business, cultural and friendship organisations to expand the networking capacity of NT members. These objectives are achieved with networking events, workshops, conferences, briefing, newsletter communication and participation in creation of NT and national Government strategies. AUSTRALIA CHINA FRIENDSHIP SOCIETY The Darwin branch of the ACFS is a co-operative partner with ACBC NT. ACBC NT members are encouraged to attend ACFS events. ACFS has completed their first News Letter, a website and facebook. The web address is: www.acfsnt.org.au The facebook address is https:\\www.facebook.com/acfs.nt UPDATED CHINA RESOURCES FOR NT MEMBERS ACBC NT has an updated list of China resources available for NT members. This includes translators, interpreters, graphic artists and design teams. Some are based in Darwin and some in China. Please contact ACBC Secretariat on 89270061 or acbcnt@acbc.com.au for details FORWARD THE NEWSLETTER TO A FRIEND NEWSLETTER CONTRIBUTIONS ARE WELCOME. Keep other members informed about China experiences. Please email notes or comments to acbcnt@acbc.com.au . Please use email header ACBC NOTE. Information received up to the day prior to publication will be included. NOTE. The views of contributors are their own and do not necessarily reflect the views of the ACBC NT or the ACBC. Content is copyright and cannot be used without permission.
Northern Territory MEMBERSHIP APPLICATION Please complete this Membership Form with your details if you are applying to join the Australia China Business Council for the first time. BASIC DETAILS Company Name Company name in Chinese Industry sector Branch membership NT Branch Member Type - This is based on the annual turnover (See page 2 for details). Company email address Company web site http:// Date of application PERSONAL DETAILS Title First name Last name Job title Personal email address CONTACT DETAILS Company phone Company fax Direct phone Direct fax Mobile phone LOCATION DETAILS Street address City State Northern Territory Post code Postal address Please cross out if you do not want your contact I agree to be included in all associated ACBC details to be given to third parties who issue and appropriate third party event notifications event invitations to ACBC members Country Australia PAYMENT METHOD Cheque Please post to: GPO Box 2769, Darwin NT 0801 Cash Deposit ANZ Darwin, BSB: 015901, A/C: 487 379 699 Credit Card Card type / VISA / Mastercard Card number Name on card Expiry date CCV# Amount paid (See member type) $ PLEASE RETURN COMPLETED FORM TO ACBC NT GPO BOX 2769, Darwin NT 0801 Or Email: acbcnt@acbc.com.au Membership TOTAL NT Government Departments 1024.87
Companies Annual turnover: More than $ 50 million * 3492.50 $ 15 million to $ 50 million 1831.50 $ 5 million to $ 15 million 1024.87 Less than $ 5 million 532.40
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