November/ December 2011

Volume 154

Trading Through ChinaInterview with a Chief – Mark Siezen, C&A 4

Trading Places: Is the RMB the new Dollar? 12

China’s Growing Thirst for Wine 27

Loraine Wong | Designer at project A

Contents3 Chairman’s Note

4 News and ViewsInterview with a Chief

8 Tax FocusThe Dutch Tax Bill – In ShortHong Kong Tax Treaties

10 LeadstoryIs the RMB the New Dollar?

13 China FocusAdvantages of Trading with China via HKHousing Policy in China Unwavering

16 Go GreenECOSOL - Going GreenThe Future of Hybrid Vehicles

18 Members' Corner

20 Lifestyle

31 Events

33 Talking Point

34 Enquiries and Information

36 Dutchcham Information

The magazine for members of the Dutch Chamber of Commerce in Hong Kong

Suite 5702, 57th Floor, Cheung Kong Center,2 Queen’s Road, Central, Hong KongTel.: (852) 2815 2801E-mail: info@dutchchamber.hkWebsite: www.dutchchamber.hkSkype: Dutchchamberhk

Editorial CommitteeAlexander de Nerée tot Babberich (Chairman)Diederik HeininkCandice LeeFaith Fung

EditorKristen Beattie

Desktop publisherJean Michel Caille

General ManagerJacqueline Baud

Cover photo Lorraine Wong, Designer at project A

AdvertisersABN AMROAIRFRANCE KLMHONG KONG DELIVERY COMPANYHKWJ TAX LAW & PARTNERS LTD.ING COMMERCIAL BANKING MARTINAIRMI INSURANCEPHILIPSPROMOCLIP ASIA LTD.RABOBANKRANDSTADRED PACKET

z This magazine is distributed free of charge to all members and relations of the Dutch Chamber of Commerce in Hong Kong.

z For annual subscription, please mail your business card and a crossed cheque for HK$490 to the above address. Cheques should be made payable to “The Dutch Chamberof Commerce in Hong Kong”.

z The content of this magazine is largely based on information from third parties. The editors do not necessarily agree with the views expressed therein. All rights arereserved by the Dutch Chamber of Commerce. Permission may be granted for reprints in any format upon request.

z To enable us to improve our service and avoid multiple mailings or errors with company details, please send us your latest information so that we can update our database.

1

3

DutchCham Board of Directors

DutchCham Advisory Board

DutchCham Office

Mr Robert ScholtenChairman; Managing Director & Country Manager Greater China

of ING Commercial Banking

Mr Robert SchuddeboomChairman; Consul-General of the Kingdom of the Netherlands

Mr K. K. Yeung Chairman of KK Yeung Management Consultants Ltd.

Mr Bart-Jan Kimman Director of Asia Yacht Services Ltd.

Mr Wiebo Vaartjes Chairman of Philips Electronics Hong Kong Ltd.

Mr Paul Zimmerman Founding member of Designing Hong Kong

Southern District Councillor

Mr Dennis Ziengs CEO, Asia of Ageas

Mr Fer Amkreutz Director of APG Asset Management

Mr Frank Koster CEO ING Insurance Asia PacificMr Marius van Huijstee President of Sonepar SA

Mr Tom VoûteChairman of the Membership Committee;Chief Executive Officer of Algorithmic Trading Group Ltd.

Mr Vincent HomrighausenChairman of the China Committee;

Commercial Director Asia of TenCate Grass Asia

Mr René TheilChairman of the SME Committee;

Managing Director of PromoClip Asia Ltd.

Mr Lodewijk Lamaison van den Berg Chairman of the Business Activities Committee;

Senior Vice President of EFG Bank

Mr Alexander de Nerée tot BabberichChairman of the Public Relations & Publications Committee;Lawyer, De Nerée Advocates

Mr Arend Oldenziel Treasurer; Partner of KPMG

Mrs Jacqueline Baud General Manager

Ms Faith Fung Marketing & Communication Manager

Mrs Helen Yong Office Manager Robert Scholten

DutchCham Chairman

When OpportunitiesKnock…

When this magazine is published, the yearwill be drawing to a close.

2011 has proven to be one of contrasts with HKannouncing its best ever first quarter growthforecasts in the first half, followed soon there-after with significant market volatility in the second half, predicated bythe concerns of the Euro zone and its ballooning sovereign debt. Whilstthere are firm signs of our European governments working together tostablise the market, the outlook for 2012 remains uncertain.

Fortunately this year was not all doom and gloom and especially not forHong Kong; Hong Kong re-affirmed its role as the main trading hub forthe Asian region and its leading position as the off-shore Renminbifinancial centre. Not surprisingly for this issue 154, we have selected anappropriate title “Trading through China.”

As for the developments within our Chamber, I am pleased to announcethat the we have established a Finance Committee made up of several ofour leading Finance professionals based in HK. The committee is head-ed by Sander Holman, Chief Risk Officer of ABN Amro Bank and hewill be driving the committee forward in its mission to create a platformwhere our members can freely discuss and exchange views on the finan-cial markets. Our first breakfast meeting, which was very successful, hasbeen held and there will be many more to follow.

Regarding the China Committee and following the success of the ChinaSeminar held in October, the chairman of this committee, VincentHomrighausen, has stepped down due to his busy work schedule. Onbehalf of the Chamber, I extend our thanks to Vincent for his contribu-tion over the years. We are pleased to announce that Harold van Kootenof Baker & McKenzie and Daniel Blocq van Scheltinga of Polarwidehave agreed to enter the Board of Directors and we look forward to themsharing their vast knowledge with us, given that they have been operat-ing in China for many years.

Harold is currently a Special Counsel with Baker & McKenzie and hasbeen a member of the China Committee for many years. Daniel is anindependent advisor but has also been the CEO of ChemChina FinancialCompany. We have no doubt that both, Harold and Daniel; with theirgreat network and experience, will be able to make significant contribu-tions to the success of the China Committee.

For 2012, the Chamber is in the process of rolling out a number of newinitiatives. The intention of the board is to further enhance the profile ofthe Chamber and its members in Hong Kong, and the Netherlands.Initiatives include closer cooperation with local Hong Kong chambers,and government. Furthermore an upgrade of the website of the DutchChamber is being considered.

For more information on these initiatives please refer to the website ofthe Dutch Chamber or contact us directly.

Thank you for your support of the Dutch Chamber of Commerce inHong Kong and I wish you all a festive season.

Chairman’s Note

News and Views

4

Could you tell me a little about C&A and your role?

Clements and August Brenninkmeijer established the first C&Astore in the small Dutch town of Sneek in 1841, Today C&A isone of the biggest fashion retailers in Europe and Latin America.We built up our European business from 1911 onwards andhave been building it up globally over the past four decades. 35years ago we expanded to Brazil and 10 years ago to Mexico. In2004, I was tasked with further international expansion andafter reviewing several markets we decided to establish the C&Aformula and brand in China. We opened our first store inShanghai in 2007 gives us the access to the best creative talent inChina.

How did C&A get a foothold in the Chinese market?

C&A is a family-owned business and we are long-term oriented.We see it as our task to build a healthy company and brand for thenext generation of shareholders and setting up a healthy businessin China is part of our long term vision. It is obviously quite aninvestment to build a business like ours in China so a long termvision and some patience is essential. As an example, we have nowbeen in Brazil for over 35 years building our iconic brand,organization and store footprint for the long term and we are nownumber one in this market. The China operation will hopefullyfollow a similar, although maybe slightly accelerated, pattern.

How does C&A’s marketing to Chinese consumers differ to that for its European or other consumers?

Our collections tap into our international design network andcapabilities but we localise large parts of our collection for theChinese market since fitting is very different for the Asiancustomer. We realize that colour can be very important in China

and we also like to be in synch with local festivals and reactquickly to local fashion trends.

Our marketing is based on building up our brand and brandawareness. We to date only have 27 stores in China sorecognition is still relatively small (as compared to 1600+ storesacross Europe). Our recent 170th anniversary provided the idealplatform for this and local press turned out for our celebratoryfashion show which we used to show how we bring fashion toour customers and also use fashion to excite and empower them.

How is C&A positioned in China and who are the targetcustomers for C&A?

Our pricing is based on providing our customers with greatvalue and style for apparel and accessories. Our customers inChina are typically pleasantly surprised with our valueproposition since it’s international fashion. Our target customersare ladies, and men and are both students aged 15-22, and youngurban professionals, aged 23-35. Incidentally these are the upand coming middles classes in China who have fashionawareness, ambition to better their lives and also purchasingpower. We also have kids’ wear which has proven very popularwith the Chinese consumer.

What are the challenges of doing business in China?

Doing business in China brings many challenges but just asmany rewards. There is for example a lot of competition inattracting and retaining talented people. We focus on creating afamily-owned environment and making our people aware thatthey are working somewhere unique and special. Findingappropriate real estate and setting up the logistics network canalso be challenging since China is growing fast. That said,support from local government has been very encouraging since

Interview with a Chief

Mark Siezen, CEO of C&A, ChinaWith trade in China due to expandmassively in the coming years, wetalked to Mark Siezen, CEO ofC&A China about their presence in China, the intricacies and challenges of doing businessthere and where he sees the company going forward.

z By Kristen Beattie Mark Siezen

it tends to be very positive towards the consumer sector, and ourbusiness partners have also been very supportive and reliable.

So, what’s in store for the future for C&A?

We’re celebrating our 170th birthday this season. We are inChina for the long term and we are intent on building a solidfoundation for the future. We’re confident that we can build a

long, successful and profitable future just as we have done inEurope and Latin America.

Expansion has been stepped in our early years in China as buildingup our organisation has been the main focus. We’re confident thatwe’re now on to a winning formula. Next year, we hope to raiseour store count to about 50 and we hope to have opened 150 storesby 2015. In a few years, with economy of scale, we definitely hopeto have a flagship store in Hong Kong – something I’m sure wouldbe a nice boost for the Dutch community in Hong Kong!

News and Views

5

News and Views

6

The fifth edition of the annual international trade fair forfruit and vegetable marketing, Asia Fruit Logistica 2011,was held in Hong Kong from 7-9 September 2011. The

exhibition was a great success, with 28% more visitors fromlast year. Over 5,300 visitors from 63 countries attended thethree-day-show, which saw some 332 companies from 33different countries showcasing their products and services.

Besides the Netherlands, other countries taking part in the showwith a national pavilion included Argentina, Australia, Chile,China, Egypt, France, Italy, the Netherlands, Peru, South Africa,South Korea, Taiwan and the US. The show has become the keymeeting-point in Asia for the international fresh fruit andvegetable business.

Jointly organized by Holland Fresh Group (HBAG) and theMinistry of Economic Affairs, Agriculture and Innovation, therewere thirteen companies in the Netherlands Pavilion who engagein fresh fruit and vegetable trade and logistics services etc. Inaddition, two seed companies and a company dealing incontrolled atmosphere techniques from the Netherlands hadtheir own stands on same floor. Marinus Overheul, the

Agricultural Counselor of the Kingdom of the Netherlands toChina, was in Hong Kong during the show and attended theofficial opening together with Consul General RobertSchuddeboom.

On September 7, 2011, a reception for the Dutch group was heldat the residence of the Consul-General. A number of Hong Kongagribusiness companies were invited to the event to meet theDutch group, which was a very good networking platform forboth parties. A half-day tour was also arranged specially for theDutch group and included a visit to a top supermarket and afruit/vegetable importer. Everyone was very pleased that theycould learn more from these counterparts on the latestdevelopments in local fruit and vegetable sector.

The stars of the Netherlands Pavilion this year were the new‘Kanzi’ and ‘Greenstar’ apples of Fruitmasters Holland, whichreceived a wide coverage in the local media – and the first Dutchonions of the autumn harvest presented by the Fruit andVegetable Bureau to the honorable guests of the official openingon 7 September. This was great publicity for the Netherlands’fresh produce sector in Hong Kong.

Asia Fruit Logistica 2011Hong Kong Convention & Exhibition Centre, 7-9 September 2011z By Marina Ng, Senior Agricultural Officer

Tax Focus

A. Companies

z Where activities are carried out overseas by a Dutch companyand such activities are not carried out in a separate legal entity,the losses of such overseas activities can in principle no longerbe offset against taxable profits in the Netherlands. Theoverseas profits will also be excluded from the Dutch tax base.

z Moreover, the circumstances in which a non-Dutch corporateshareholder would become liable to Dutch corporate incometax because of holding shares in a Dutch resident companywould be laid down in law - instead of merely being deductedfrom policy. The same will happen in the Dutch dividend-withholding tax law, for dividend-withholding tax being dueupon distributions made by a Dutch coop to non-Dutchcorporate shareholders.

z Further limitation of the interest deduction on loans taken upto buy shares in a Dutch company where that company isincluded in the Dutch tax consolidation of the acquiringcompany.

z In follow up to our previous column, we are happy toannounce that an additional R&D facility is proposed to beintroduced in Dutch tax law. This would be an additionaldeduction to reduce direct costs of R&D (other thanemployment costs that relate to R&D, which currently benefitfrom a (wage) tax incentive).

z Moreover, the Dutch dividend withholding tax refund that iscurrently granted to mainly Dutch and European pensionfunds, will be extended to similar funds in third states withwhich the Netherlands has a tax treaty, with exchange ofinformation provisions.

B. Individuals

z Some tax advantages that currently exist in the income tax willbe abolished and replaced by one measure, the so called‘vitality regulation’.

z The conditions that persons should meet to qualify for the30% facility that was discussed in our previous column havealso changed slightly.

z Gifts made to cultural organizations will become deductiblefor 150% for Dutch income tax.

z Where the longest living spouse inherited a usufruct on theinheritance of the shortest living spouse, the longest livingspouse should include the full value of the inheritance in hisincome tax return rather than the value of only the usufruct,which is currently the case. The persons that inherit the bareownership no longer need to include that in their income taxreturn.

All in all, Dutch parliament may amend the tax bill during thecourse of the legislative process. If amendments are not made,the above will enter into force as of next year, 2012.

z For more information, please contact:carola.van.den.bruinhorst@loyensloeff.comand josine.van.wanrooij@loyensloeff.com

The 2012 Dutch Tax Bill – in Short

On September 15, 2011, the DutchGovernment released a Tax Bill with variouschanges proposed for some Dutch tax laws.We look at how these changes might affectboth companies (A) and individuals (B).

z By Carola van den Bruinhorst and Josine van Wanrooij, Loyens & Loeff Carola van den Bruinhorst Josine van Wanrooij

If amendments are not made, this tax bill will enter into force as of next year, 2010

8

Tax Focus

Other developments:

z Spain: The ratification process pending the double taxationtreaty between Spain and Hong Kong was started by theSpanish Congress. It is therefore is expected that this treatywill also be in effect from 2012.

z The Netherlands: The Netherlands – Hong Kong double taxa-tion treaty together with its corresponding explanatory noteswas been introduced to the Dutch Parliament on 2nd ofSeptember. This treaty is therefore also expected to be in effectfrom 2012. Please note that from the explanatory notes, itfollows that informal meetings between the Hong Kong andDutch government already began in 1999 and that formalmeetings took place in 2004, 2005 and 2006. However, as aresult of disagreement on the exchange of informationprovisions, the treaty negotiations came to a standstill in2006. They were finally resumed as a result of Hong Kong’sdecision to ‘liberalise’ its national rules of exchange ofinformation in 2008, and were finalised in 2010.

Double taxation treaties

The above long treaty negotiation process shows that OECDcountries such as the Netherlands (but also countries outside theOECD, such as Indonesia) need to have sufficient guaranteesthat any double taxation treaty they conclude with Hong Kongwill not erode their national tax base. This is because HongKong has a territorial system and does not levy any capital gainstax or withholding taxes. However, countries should not forgetthat within the international trading environment, doubletaxation treaties are a must as they:

i) reduce double taxation,

ii) provide for exchange of information, but most importantly,

iii) create certainty for individuals and corporations on the tax treatment of their international activities and investments.

Limitation of Benefits Clause

Interesting to note that the Netherlands - Hong Kong double taxa-tion treaty is currently the only one that Hong Kong has concludedwhich contains an extensive Limitation of Benefits Clause.

While comparing the explanatory notes to the available drafttext of the Treaty, it looks like there is some discrepancy in thenumbering; especially when the dividend article of the Treaty iscompared with the explanatory notes. In addition, theexplanatory notes do not elaborate or comment much on the‘terminology’ used within the Limitation of Benefits clause fordividends. Although this was to be expected, some concreteexamples would have been appreciated.

z For more information: taxservices@hkwj-taxlaw.hk

Hong Kong Tax TreatiesAs of 14th of October 2011, Hong Kong concluded 21 double taxation treaties / arrangements. However, only 7 ofthose are currently in effect (Belgium, Brunei, MainlandChina, Luxembourg, Thailand, Vietnam and United Kingdom).5 more tax treaties (Austria, Hungary, Ireland, Lichtensteinand Japan) will enter into force from the year 2012.

z By Willem Jan Hoogland, HKWJ

Willem Hoogland

9

Leadstory

10

Onshore and Offshore RMB

Arthur Zou is Country Executive for China with Dutch bank,ABN AMRO Bank, which has re-established its strong footholdin Asia and is in the process of setting up its new ChinaRepresentative Office. Geert Potjewijd is Country Head forChina for De Brauw Blackstone Westbroek, a Dutch law firmwhich supports foreign companies looking to invest and divest inChina.

What are RMB, CNH and CNY? RMB is the acronym for theRenminbi, common name of the Chinese currency. CNY is thename for RMB used onshore in China and CNH for RMBtraded and used ‘offshore’ in Hong Kong. The highly regulatedinterbank market within China determines the onshore rate(CNY) whereas the HK market for RMB determines the offshorerate (CNH). Hong Kong is currently the only full-fledgedoffshore market for RMB.

Arthur explains that, “Until recently, the Spot market for RMBonshore and offshore was performing quite in line so thedifference was very small. However, the divergence has recentlyincreased and has reached as high as more than 1200 BPS. (on23rd September for example, onshore USD/CNY was 6.3883,while offshore USD/CNH was 6.512).” Arthur goes on toexplain that this divergence is mainly due to divergentexpectations for the currency onshore and offshore. The bearishview on China’s economic outlook is gaining momentum,especially in the offshore market.

Internationalization

Geert Potjewijd points out that the Chinese government ownsone third of the world’s foreign exchange, following decades ofvast exports. “In China, the still strict foreign exchange control

contributes to the rapid build up of the foreign exchange reserve,which stands at USD3.2 trillion, close to 50% of the GDP. Theinternational benchmark states that a nation’s foreign exchangereserve should cover 3 month’s imports, 10% of GDP or 30% ofnational debt. China’s foreign exchange reserve is clearly waytoo high.” explains Arthur Zou.

So, if the US dollar depreciates then China suffers. With thelargest exports (having recently overtaken Germany), theChinese government wants RMB to be used to settle paymentsto slow down this accumulation of foreign exchange. It is alsohoped this will raise the standing of RMB as an internationalcurrency – challenging the USD.

The 12th ‘Five Year Plan’ indicates a transformation of China’slow-wage, export-based economy, which is heavily dependent onEuropean and American domestic consumption and thereforeunsustainable. Geert puts it simply, “Internationalising the RMBwill remove the tension between exports and imports andsupport the plan to move the economy from export driven andmanufacturing to something higher up the value chain.” What’smore, to play a bigger role in global politics, China needs acurrency that is part of the global economy.

Foreign trade

Foreign trade is likely to remain strong. Arthur states, “RecentSeptember figures show that y-o-y growth in exports were at17.1% and imports at 20.9%. It is however, slower thanbefore.” The ongoing crisis in Europe, the US economicslowdown, tightening policies and RMB appreciation are allaffecting global demand.

Arthur predicts that in the coming year, China’s foreign trade(both imports and exports) will continue to grow but at a slower

Trading Places: Is theRMB the new Dollar?Internationalization of the RMB has goteveryone talking. We met with two Dutchbusinessmen from the banking and legalsectors respectively to hear more on thereasons behind this and the potentialimpact on foreign trade in China.

z By Kristen Beattie

Arthur Zou Geert Potjewijd

11

rate. In the long run, China wants to upgrade its export sectorand move up on the value chain. This is an inevitable step thatChina has to take in order to maintain the competitiveness of itsexport sector, which sees both labour costs and currency valueincrease, impacting its price competitiveness.

Implications of internationalisation

“If China succeeds, the position of the US dollar as theinternational global currency will be challenged, and it willcultivate a large market for RMB financial products – deposits,loans, derivatives, equity, fixed income, etc. It will also have apush effect on the liberalization of China’s exchange rate and theinterest rate policy and will encourage China to speed up itsreform of the financial markets,” says Arthur.

Geert adds that, “China cannot make Shanghai one of the majorfinancial centres of the world if the RMB is not one of the majorglobal currencies.” Currently, it has no convertibility – whichmeans that only Chinese investors can buy or sell shares on theShanghai stock exchange and if you want to bring Euros in fromthe Netherlands, you need approval from the Chinesegovernment. A fully convertible currency will open the market,allowing foreign companies to invest directly in on-shore RMBfinancial instruments and Chinese banks to seek funding abroad.

Transaction volumes

“At the end of 2010, RMB deposits in Hong Kong were around300 billion RMB. By the end of August, 2011, this more thandoubled to 609 billion RMB.” says Arthur. “The current totalmarket liquidity in the CNH Spot market is around 1.5 billionUS dollars per day. It was at a meagre 0.4 billion at the end of2010 – so there has definitely been an increase in transactionvolume. However, in comparison to USD spot market (around1.2 trillion USD per day), it is still tiny.”

The more trade settled cross border in RMB, there more offshoreRMB there is, “At the end of last year, there was 500 billionRMB exchanged in cross border settlements. Now, in October2011, only 10 months later, the whole accumulated volume ofcross-border trade settlement exceeded 2 trillion yuan– a massiveincrease.” Arthur tells us.

Top Tips – RMB Transactions

Today, in Hong Kong, trade can be settled in RMB and alsoinvestments made with the currency on this fast-growing CNHmarket. Bank of China Hong Kong acts as the (sole) clearing

Leadstory

Designed by Loraine Wong, lw@lorainecreations.com

The adjusted Big Mac index, developed by The Economist as a fun indicator of fair currency value basedon Purchasing Power Parity theory (that if currencies are properly valued, the same thing, like a big mac,should cost the same in different countries), indicates that the Chinese currency is close to its fair value.

bank also offering cross border trade settlements in RMB. Inorder to participate, a corporate client needs to open a dedicatedaccount either directly with the clearing bank, or with a so-called“participating bank” that has opened a RMB account with theclearing bank.

So, if I am a Dutch business owner who exports goods intoChina and my end customer wants to pay me RMB, can I openan account and receive RMB? Yes and the procedure is not verycomplicated according to Arthur but he warns, “You need tofirst formulate a clear strategy of your RMB business, such as thepayment flow, investment strategy, as well as hedging strategy.“Some businesses enter into RMB business also to benefit fromthe high likelihood of (continuous) appreciation of RMB, butpeople should realize the risk of such a bet, as the appreciationis not guaranteed, and the RMB still does not have fullconvertibility”, says Arthur.

RMB products and services

Most banks have the following structured products: deposits,loans, spots, forwards, bonds (‘dim sum bonds’), equity, etc. butthere is limited choice. Onshore, in China, CNY does haveforeign exchange products but these are not for foreigninvestors. Geert points out that an easy way to raise money inRMBs in Hong Kong and use it to invest in China is through theso called ‘dim sum bonds’ which can be issued in RMBs fromboth foreign and Chinese companies. According to The HongKong Exchange authority, in 2009, there were 4 companiesdoing this, in 2010, 16 companies and in 2011, 66 companies,including multinationals like Unilever.

Million dollar question

The International monetary fund (IMF) states that the RMB isundervalued by 3-23 %. The adjusted Big Mac index, developedby The Economist as a fun indicator of fair currency value basedon Purchasing Power Parity theory (that if currencies areproperly valued, the same thing, like a big mac, should cost thesame in different countries), indicates that the Chinese currencyis close to its fair value.

In fact, from 2005, the nominal value of the RMB alreadyappreciated more than 25%, and the real value, if taking intoconsideration the labor cost increase in China, appreciated morethan 50%. Yet China’s export sector continues to perform quitestrongly, which is a strong counter-argument to the claim by USgovernment that China’s competitiveness in export is largely dueto its intentionally distorted currency value.

Arthur states that, “It is very difficult to judge whether the RMBis undervalued or by how much. However, the trend is that theRMB has appreciated significantly, at least against the dollar,since 2005 and this trend will continue. What’s clear is that theChinese government would like to see a slow appreciationinstead of a one off appreciation of the currency.”

Seize opportunities

Arthur advises people embrace the RMB, “It’s an unstoppabletrend and will have far-reaching impact on the global economy.The RMB is going to become a very important global tradesettlement currency in the coming 5-10 years. There will besignificant RMB liquidity in the global financial system and aproliferation of RMB financial products and offshore RMBmarkets.” However he errs on the side of caution, advisingpeople to be conscious about the fact that currently the RMB isstill not yet fully convertible and there is still very limitednumber of RMB products.

Geert adds that it is clear that the government is trying to makeit easier and that trading companies and foreign businesses willbenefit from RMB trade settlement and the reinvesting of thecurrency. As far as his business goes, a tradable RMB meansfewer hoops to jump through smoothing out the whole process.“Timing will be interesting,” he says, “We are all waiting, as atruly convertible RMB will solve many aspects of trade andinvestment. Holland is home to 80 of the 100 largest companiesin the world and so there is a lot of money coming back throughextraction. A convertible RMB will make it easier for capital tomove from one country to another.”

z To find out more about ABN AMRO in China, please contact Arthur Zou at arthur.zou@hk.abnamro.com.

z If you need support for your business in China, please contact Geert Potjewijd at geert.potjewijd@debrauw.com or refer towww.debrauw.com

Leadstory

12

China Focus

13

China’s foreign trade settlement in RMB was aboutRMB506 billion of which three quarters (RMB370billion) was handled by banks in Hong Kong. Hong

Kong’s total trade amounted to US$823.9 billion (10th in theworld) of which US$402.6 billion was trading with MainlandChina.

These figures show Hong Kong’s tight relationship withMainland China reflecting Hong Kong as the ideal two-wayplatform for business between China and the rest of the world.They also show that many investors still prefer to use a HongKong trading company to trade with China, rather than settingup their own trading company in China. There are variousreasons for that, but the main reasons are the following:

z Hong Kong’s business-friendly environment;

z Simple taxation system with low taxes which is based on the territorial concept;

z Sound banking system;

z Low cost to set up and maintain a Hong Kong company, and

z Free flow of capital, talent, information, goods and services.

No wonder that Hong Kong remained the freest economy in theworld for the 17th straight year according to HeritageFoundation and the Wall Street Journal. Ernst & Young and theEconomist Intelligence Unit also announced in their‘globalization index survey’ that Hong Kong has overtakenSingapore as the most globalized economy in the world. If thatwas not enough to stress Hong Kong’s status as the internationalcentre of finance, trade and logistics of Asia, Hong Kong washonoured to walk away with another prominence this year.IMD, Switzerland-based business school, announced the resultsof its annual World Competitiveness Yearbook, which placedHong Kong and the US as the most competitive economies in theworld. Hong Kong got this title mainly thanks to its effective

legal and regulatory frameworks, its openness to globalcommerce, as well as its overall macro-economic stability.

In China’s 12th Five-year plan, Beijing has affirmed to furtherdeepen its economic, trade and financial cooperation with HongKong. Beijing is determined to further develop Hong Kong as theworld’s premier offshore centre for RMB trading, which wasreaffirmed by Vice Premier Li Keqiang during his recent visit toHong Kong.

With all these competitive advantages of Hong Kong in mind, itshould not be a surprise to say that Hong Kong will remain adynamic trading jurisdiction in Asia.

Intertrust Hong Kong has set up many trading companies forforeign traders. We have a dedicated and experienced trade teamthat provides trade documentation and treasury services.

z Please do not hesitate to contact Alex Cho at alex.cho@intertrustgroup.com should you wish to have further information.

The content of this publication is intended to give generalinformation on the subject matter. It does not constituteprofessional advice and should not be relied on as such. Specificadvice should be sought about your specific circumstances.Accordingly, we do not accept any liability for any loss that mayarise from your reliance on this publication, or the informationcontained herein.

Advantages of Trading with China via Hong KongUS$ 3 trillion! That was Mainland China’s total foreigntrade amount in 2010, worth a second place in the worldafter the US. More than 30% of it was intermediatedthrough Hong Kong (US$858 billion). z By Alex Cho, Managing Director Intertrust (Hong Kong) Ltd.

Alex Cho

Beijing is determined to further developHong Kong as the world’s premier off-shore centre for RMB trading, which wasreaffirmed by Vice Premier Li Keqiangduring his recent visit to Hong Kong.

China Focus

15

Higher Mortgage Interest Rates

The Beijing branch of China Construction Bank announcedin mid-October its plan to raise mortgage interest rates forfirst-time homebuyers to 1.05 times the benchmark rate,

in a move that is expected to deal another heavy blow to thesubdued domestic real estate market.

The higher rates from the benchmark level mean homebuyersnow have to pay an extra 5-30 percent for their home purchases.Considering the long-established “iron triangle” of banks, localgovernments and developers, the decision to raise mortgage ratesat a time when the country’s real estate regulations are at acritical juncture shows commercial banks’ pessimistic outlookfor the future of the domestic property market and a wideningdivide emerging between the different interest groups.

The increased burden as the result of the adoption of the raisedrates will weaken the purchasing power of potential homebuyersand have a considerable influence on the future of the housingmarket. Commercial banks’ ever-growing desire to pullthemselves out of the “alliance of interests” they previouslyforged with local governments and developers augurs that theturning point for domestic housing prices is only a matter oftime.

Housing Transactions Declining

After more than one year of policy regulations by thegovernment, the housing investment fever has subsided. As aresult, the volumes of housing transactions have drasticallydeclined and the “golden September and silver October” failedto arrive. The power struggle between developers and consumershas changed in favor of the consumers. In Beijing, Guangzhou,Shanghai and other first-tier cities, the volumes of hometransactions have hit a three-year low.

Property Prices Dropping

Property prices have even begun to show signs of falling. Statisticsshow that the September prices of newly built houses in 17 of 70big and middle-sized cities nationwide declined from August andprices have stopped rising in the majority of the other cities. Theamount of unsold houses in many cities has also reached a newhigh. It is estimated that about 15 months are needed to digest theunsold homes in 14 major cities. In Beijing alone, a total of100,000 homes are yet to be sold, foreshadowing the coming ofchanges in supply-demand relations. In some cities whereproperty prices soared in previous years, prices of someproperties have already dropped to the 2009 level.

However, past experience tells us real estate regulation is always acomplicated and arduous task and people should not be too hastyto cheer a final victory. The possibility of a new global economicrecession triggered by the sovereign debt crises in the United Statesand the European Union have increased domestic developers’hopes that the regulatory measures will be weakened or suspended.

Calls for Loosened Monetary Policy

The long excessive dependence of local governments on revenuesfrom land sales also encourages developers to stubbornly adhereto high prices despite the increased pressures they face. Forexample, some market analysts called on the authorities to relaxthe current monetary tightening policies to avoid a “hardlanding” of the national economy immediately after publicationof the September macroeconomic data showed that nationaleconomic growth has further slowed. But the average 9.4percent economic growth in the first nine months of this yearproves the absurdity of this. However, such an argumentdemonstrates the continuing attempts of some vested interestgroups to work for a loosened monetary policy. At a time whennationwide housing prices have failed to rise appreciably, anysigns of monetary relaxing is likely to give desperate developersrenewed hopes of maintaining their current prices.

It is already a consensus among decision-makers that excessivedependence on the housing market poses a huge risk to thecountry’s real economy. In an article in the September issue ofQiushi Magazine Premier Wen Jiabao said that the country’sdetermination to press ahead with real estate regulations will“never waver”, its policy direction will “never reverse” and itspolicy intensity will “never relax”.

z By the Economist of the Chinese Academy of Social Sciences.z Source: http://www.chinadaily.com.cn/

Housing Policy in China UnwaveringRealty developers are hoping in vain for the government to loosen the tight-ened monetary policy so they can raise prices. Contrary to what was expect-ed, the traditional "golden September and silver October", the peak salesseason for the country's housing market, did not materialize this year due tothe introduction of a series of regulatory measures by the government.

Go Green

ECOSOL (Eco Solutions) is a local company, which offersteaching, training, carbon auditing and carbon footprintreduction services in Hong Kong. ECOSOL was formed to

initiate, help or support entirely eco-responsible projects, inHong Kong and China. It aims at creating a tangible and long-lasting impact with benefits to people, the involvedorganizations and to the environment.

A Greener lifestyle

As Hong Kong citizens, we have two very good reasons to adopta greener lifestyle. Firstly, living here makes us among theheaviest polluters, per head, on the planet; second, we all sufferdirectly from all the various pollutants we generate.Convinced that any informed person has a desire to improve hisown living environment if given practical, easy-to-achieve andcost-effective information, ECOSOL is offering a guide on howand why to tread a greener path in Hong Kong.

’Going Green’ is an educational publishing project, which isaimed at sharing green tips with Hong Kong citizens. It is theresult of years of environmental journalism and research; as well

as teaching about sustainability and the environment to childrenand to an older audience; and common sense gained from raising4 kids here in the greenest and cheapest way possible. GoingGreen receives no funding from any private or publicorganisation so its survival depends on support from thecommunity.

‘Going Green in Hong Kong’

ECOSOL’s guide, ‘Going Green in Hong Kong’, was first printedfor seminar participants and friends, but owing to demand, theguide was soon reprinted in July 2007 and again in March 2008as its distribution increased. This second edition, published inboth English and Chinese in early 2009, with a FSC printingcertification, is now available from leading stores.

‘Going Green in Hong Kong’ tells you about: Food, Home,Body, Shopping, Waste, Water, Energy, Transport, Work,Holiday, Renovating, Get Started, Green Games, ToxicSubstances and provides a directory of green shops, productsand services available in Hong Kong.

ECOSOL seminars

ECOSOL offers teaching programs and tailor-madeenvironmental workshops for schools, individuals andcorporations on:

1. Sustainable Development: lifestyle changes for a greenerworld;

2. Health and Environment: how to decrease chemical pollutantsaround us;

3. Global Warming: how and why to decrease our carbonfootprints.

ECOSOL’s projects include:

z Initiating and coordinating a charitable biogas project inSichuan for a major corporation’s foundation.

z Writing, publishing and distributing an eco-educationalguidebook, ‘Going Green’ in Hong Kong published in Englishand Chinese.

z Providing teaching and presentations to educational andbusiness entities (HKUST, ESF Tai Po, French InternationalSchool, French Chamber of Commerce, Rotary Clubs, ABNAmro, Merrill Lynch)

z For more information, contact Catherine Touzard at:ECOSOLUnit 201, Kai Wong Building224-226 Queen’s Road Central, Sheung Wan www.goinggreenhk.com

16

ECOSOL - Going Green

Go Green

17

China to Become Largest Hybrid Market

Toyota Motor Corp announced earlier this month that itwill begin production of Toyota hybrid cars in China by2015. All production, research, and development of these

electric vehicles will take place in Changshu, a city nearShanghai, in a brand new facility. China is expected to becomethe world’s largest market in hybrid vehicles, so multinationalcompanies like Toyota are working to take the lead and todevelop a competitive advantage. In Japan, Nissan Motor Co. isalso planning to produce Nissan hybrid vehicles by 2015, aimingfor a 35 percent fuel economy improvement across its fleets inJapan, China, Europe, and the United States.

Hybrid Vehicles - New and Improved

It’s not just the production of Toyota hybrid cars and Fordhybrid cars that are on the rise, but also the research anddevelopment of new and improved hybrid vehicles. GM Korea,for example, is set to release not only the first hybrid vehicle inits segment in Korea, but this new model, the ‘Alpheon eAssist’will also have 25 percent improved fuel economy over standardcars. This will be the first hybrid car from GM Korea and willachieve 33.2 miles per gallon. It’s also projected that this hybridvehicle will reduce carbon emissions by 22 percent. This meansthat hybrid cars are getting better and better, and thatautomotive companies are increasingly trying to ride the newbandwagon of hybrid vehicles.

Broadening of Hybrid Vehicle Industry

The words “hybrid cars” brings to mind images of mid-sizedpassenger vehicles geared toward the middle class. But,researchers at the University of California, Riverside, Center for

Environmental Research and Technology are considering hybridvehicles of a different sort: hybrid construction vehicles. Thisnew research will evaluate the emission reduction benefits of twocommercially available hybrid construction vehicles: aCaterpillar bulldozer and a Komatsu hydraulic excavator.Manufacturers are saying the hybrid vehicles reduce fuel needsby 20 percent and cut emissions by 30 percent, opening upplenty of opportunity in the industrial or commercial hybridvehicle market. After all, no one has said that hybrid vehiclesmust be restricted to highways, cities, and suburbs. If hybridconstruction vehicles are shown to not only save money, but alsoto reduce carbon emissions, the hybrid vehicle industry might seenew players on the manufacturing side as well as in thebusinesses looking to purchase these hybrid vehicles.

Greater Choices for Consumers

From this “out-of-the-hybrid-car” thinking comes even moreopportunity for hybrid vehicle manufacturing. Chrysler GroupLLC has been conducting research on hybrid pick-up trucks andhybrid minivans, although there aren’t any plans to take thesevehicles to mass production quite yet. Hybrid vehicles such aspick-up trucks and minivans offer environmentally-consciousconsumers more practical options for automotive transportation,instead of the smaller Toyota Prius or Ford Fusion Hybrid. Thismight also expand the market to those who want a hybridvehicle, but don’t have a use for something so small.

Overall, hybrid vehicle manufacturing is on the rise and there isplenty of opportunity in the coming years for more types ofhybrid vehicles to emerge. Thanks to innovations, companieswill come out with more fuel-efficient hybrid vehicles which willprovide environmentally conscious consumers with a greatervariety of choices and have a positive effect on the environment.

z Source: http://www.industryleadersmagazine.com

The Future of Hybrid Vehicles With a growing global consciousness of environmentalism and carbonfootprints, comes the growth and opening of various green industriesthat haven’t previously had a chance. One of those budding green mar-kets is that of hybrid vehicle manufacturing, with production to blossomworldwide with many different countries and companies.

18

Member’s Corner

Since first joining ATC more than 10 years ago from a major international bank, Sheila has built up a substantial capitalmarkets experience, first in an operational / accounting role and then with management responsibility for overseeing all newtransactions, before moving to head up ATC’s Capital Markets legal team in 2010. Sheila has been appointed as ATC’s newHead of Capital Markets, Asia since October this year.

With incorporation documents signed by the Queen of the Netherlands in 1893, and originally set up to act as a trustee ofbonds issued by U.S. Railway companies and Russian oil companies, ATC is one of the oldest management-owned fiduciaryservice providers and has been independent since its inception. ATC is known for its global, high quality services with clientsranging from international banks, PE firms, multinationals to investment funds and private clients.

ATC Capital Markets provides independent directors (personal and corporate), legal support, cash management, investor reporting,administrative and corporate compliance services to SPVs and structured finance transactions. In addition, ATC provides the following trusteeservices: Share Trustee, Security Trustee and Note Trustee, according to the requirements of the transaction.

ATC’s Capital Markets team has been involved in more than 90% of securitizations in the Netherlands, the most active jurisdiction in Europe.The focus of our new Capital Markets team in Hong Kong will be servicing the major financial institutions in Asia, including mainland China.

Sheila Razab-Sekh, Head of Capital Markets Asia, ATC Hong Kong Limited, 3713 The Center, 99 Queen’s Road Central Hong Kong sheila.razabsekh@atccapitalmarkets.com, www.atcgroup.com

New Associate member Sheila Razab-Sekh – ATC Group

After spending 5 years in the Netherlands, Spain, Peru and a bit further, Estonia, I came back to my home city to continuemy career in Indonesia’s largest national airline, Garuda. As a corporate account manager, I am always making connectionswith different people based in Hong Kong and Southern China. Besides Bali, Indonesia has many wonderful destinations suchas Borobudur in Yogjakarta, wonderful resort in Raja Ampat and the bizarre Komodo Island, where the real dragon lives.

Meanwhile, I am also working for the Dutch Alumni Network in Hong Kong (DANHK) with Megan, Jing, Joannaand Jimmy. It is interesting that people in China know much more about Dutch education than people in HongKong do. My task is to maintain the ties between Dutch Alumni in Hong Kong and to promote Dutch Educationamong Hong Kong students. For inquiries on DANHK, please send to dutchalumnihk@gmail.com …

The Garuda corporate program launched in Hong Kong this year and is strongly supported by our Jakarta headquarters. Currently we offerexclusive corporate discounts to all Dutch Chamber of Commerce members, such as free access to our lounge and use of our corporate check-in counter.

For more information, please contact our corporate team at corporate@garudaindonesia.com.hk or Miguel Lau, laumiguelo@gmail.com Tel: +852 9703 3482For details on Garuda discount, please go to http://www.dutchchamber.hk/cm/images/gi.pdf

New Young Professional Member Miguel Lau

Ever since I came to Hong Kong for business for the first time in 2005, I have somehow felt at home. What I particularly likeis the busyness of the city that never seems to sleep: Hong Kong radiates energy. During one of my business trips, I met thelove of my life and in May 2010 I quit my job to move here. After a 9 month sabbatical I started at the new branch of ActiveCommunications in Hong Kong.

Active Communications removes the borders between traditional offices by providing fine-tuned communication solutionsbased on Microsoft Lync. Whether your colleagues or customers are right next door, on the road or on the other side of theworld, with our solutions you can easily see if they are available. And with a single click you can contact them via email, chat,phone or even HD video and share documents.

Our solutions distinguish themselves by being easy to manage, easy to use and easy to implement. Our solutions are therefore especiallyinteresting for SMEs. Active Communications has offices in The Netherlands, Hong Kong, Australia and Spain.

I’m always happy to provide a demo so you can experience it for yourself.

Maarten Swemmer, Business Development Manager – Active Communications Asia LtdWebsite: www.activecommunications.asia – Email: mswemmer@activecoms.asia (also on Lync / Office Communicator)

New SME member Maarten Swemmer – Active Communications

Member’s Corner

For as long as I can remember I’ve always had my feet in the best of both worlds: The Netherlands and Hong Kong. My loveof the people I met in this thriving metropolis and being raised with dual identities i.e. being a Dutch citizen and permanentresident of Hong Kong inspired my choice to get a Masters in Social Anthropology from the University of Edinburgh.

Armed with a new career path in Business Development with FEBO International Ltd whilst being proficient in Mandarin,Dutch and English, I was naturally drawn to the Dutch Chamber of Commerce where I hope to foster new businessrelationships between the Netherlands and China and meet more like-minded and friendly faces!

FEBO International Ltd was founded in 1997 as a Far East Buying Office for leading importers and retailers throughout UK,Europe, Middle-East and USA. My father is the acting senior management with over 35 years experience in sourcing throughout Asiaprincipally in gift-wear, toys and novelties, sportswear and equipment, packaging and casual clothing.

At FEBO we place great emphasis in securing competitively priced products from reliable vendors whilst ensuring all import regulatorystandards are maintained. Apart from our stringent quality control standards, our company also offers the following:

In-house labelling and repackaging options / Warehousing facilities / Freight consolidation / Product Design services.

Unit 1717, Metropole Square, 2 On Yiu Street, Shatin, N.T. Hong Kong, Leonard Perry, Business DevelopmentTel: (+852) 26927555 - Fax: (+852) 2692-7589 - Leonard@febointl.com”

New Young Professional Member Leonard Perry

Tebodin China, located in Shanghai, Nanjing and Guangzhou, is part of Tebodin Consultants &Engineers Global Network of over 52 offices in 22 countries worldwide. With a Chinese team of about130 experts, Tebodin China is integrating strategic advice and technical expertise and has become aglobal partner for both international and local clients. Tebodin China’s rich experience in multinationalprojects in major markets sectors like chemical, industrial, pharmaceutical and commercial buildingsallows Tebodin to address the most complex challenges.

Clear involvement in LEED(Leadership in Energy and En-vironmental Design), BREEAM

(Building Research Establish-ment Environmental AssessmentMethod) and Cradle to Cradle design, allows Tebodin to be astrategic partner for companies willing to developenvironmentally friendly buildings and facilities.

Since 2002, Tebodin Asia Pacific has grown and developedoffices in Chennai (India), Ho Chi Minh City (Vietnam),Shanghai, Nanjing and Guangzhou (China), and Jakarta(Indonesia). Together, these four offices now employ more than300 experts. With its expertise and commitment to customerservice, Tebodin gives the clients what they deserve: “a goodnight’s sleep.”

Tebodin is part of Royal BAM Group, a successful Europeanconstruction group listed in the Amsterdam stock exchange.

www.tebodin.eu / www.bam.eu

New Overseas member Thomas Pesnel – Tebodin

19

The Dutch Chamber always welcomes contributions and articles from our current and new members.

Please contact us viafaith@dutchchamber.hk

Patrick van Hees’ debut roman ‘DeGeluksprofessor‘ is a refreshing new-comer to the range of books about ‘the

road to happiness’. It makes you think aboutyour own life, but at the same it’s veryentertaining to read.

The Happiest Day of the Year

De Geluksprofessor was published andlaunched in the Netherlands on June 17th 2011.Patrick van Hees choose this day, because itapparently is the happiest day of 2011 in the Netherlands. The Happiest Day? Yes,academic research has shown that the lastFriday before the actual summer starts, is thehappiest day of the year. The weather is fine,there’s still some money in the bank two weeksbefore the end of the month, holiday season iscoming. Makes sense.

Van Hees describes the road to happiness inthree steps via the life and career story ofNyenrode University professor Cuno Groen.Cuno has everything: a great job, a guru in hisworking field, a sports car, lots of women. Butwhen he doesn’t get the promotion he waswaiting for and was counting on, he starts

thinking about things. He goes to Cambridgewhere he finds the space and inspiration toreinvent himself. It becomes a matter of lifeand death…

Three Steps to Happiness

Patrick van Hees’ happiness theory containsthree steps.

1. Set clear and realistic goals. Goals get youstarted and keep you going.

2. Build true and deep relationships with(some) people. Instead of just havingsuperficial contacts, human beings need‘realationships’.

3. Recharge on a regular basis. There’s nogolden rule. Do things that you really liketo do and not just because it’s fashionable.Do sports, go to the beach, walk, have amassage, play cards, spend a long nightwith your girlfriend, anything you like.

Next to being a writer, Patrick is a successfulmarketeer and entrepreneur. Read more aboutVan Hees and his book at www.patrickvanhees.com.

Al Molo with its stunning New York design overlooking the spectacular harbour and cityenvirons, launches the exquisite skills of New York celebrity chef, Michael White toHong Kong diners. Presenting an eclectic array of fine Italian cuisine, Al Molo presents

a unique dining experience, New York style. Classic Italian cuisine, homemade pasta togetherwith a stunning open fired pizza oven is among the features of the restaurant. Exquisite dessertsand a superb selection of Italian and world wines, many available by the glass, compliment themenu.

Restaurant review AL MOLO Ristorante Italiano

Location:Al Molo, Shop G63, G/F, Ocean Terminal, TST,Hong Kong.

Opening hours:All day dining from 12.00noon to11.00 pm, later on weekends andpublic holidays.Weekend brunch buffet Saturday,Sunday & Public Holidays.Lunch buffet and all day dining afeature.

Reservations:Tel: +852 2730 7900

Source: www.diningconcepts.com.hk

20

Book reviewDe Geluksprofessor

Author: Patrick van Hees

Lifestyle

Lifestyle

21

It’s not that I don’t like m

y iStuff and I’m sorry for his fam

ily’s loss but the

outpour of grief after Steve Job

s’ untimely demise seemed ext

reme.

Let’s be honest. To most peo

ple Jobs was a complete stran

ger at the

head of a corporation that -

let’s be even more brutally

and potentially

dangerously honest - produce

s devices to surf the Internet

which make you

look cool in a Starbucks.

This was not always the case.

The first computer class I had

at school was on

a Macintosh computer. This was at

a time when Windows did not

even exist. It

had a mouse and an interface –

although it probably wasn’t call

ed that yet - that

instantly made you understand

what it could do. It was good.

Later when I was at university, t

here were some Macs around. Ver

y big, chunky

machines that students used

to edit magazines on. That is w

hat you did on a

Mac back then. Processing ima

ges no other computer could

handle. They

could do much more but ther

e was a good reason that so

few people did.

Macintosh computers were extrem

ely expensive.

That all that changed in 1997

when Jobs returned to Appl

e. But there was

another factor which seems larg

ely overlooked.

It is hard to deny that the rise o

f Apple to the company it is no

w, has as much

to do with Jobs’ business acum

en as with China keeping up w

ith his ambition.

Simply put: if Foxconn can’t p

roduce them at a certain price,

Apple cannot sell

an iPhone for US$ 200, or an

iPad for US$ 500. If Apple pro

ducts were still

made in the United States, the

new gigantic two floor Apple st

ore in Hong Kong,

would be the size of a 7/11.

Apple has been fairly good

at ‘marketing-away’ the Chin

a factor in their

products. The small print on th

e back of my iPad says “Desig

ned by Apple in

California. Assembled in China

”. Now that doesn’t sound so b

ad, right? I would

even go as far as to say tha

t the success of Apple, is pa

rtly connected to

exactly that. Their ability to ma

ke people forget about the big

dark factory in

Shenzhen.

So next time you are burning y

ou iCandle app, remember tha

t the key may not

have only been to make it pret

ty and clever, but also how to m

ake it cheaply. In

China.

By Alexander de Nerée tot Babberich,

alexander@dntw.com.hk

lex lociThe Core of the

Apple

Lifestyle

23

Mission

The mission of the People’s Food Bank is to provide food topeople in need on a short-term and weekly basis, relieve hungerand to promote social cohesion by encouraging people to shareresources with those less fortunate than themselves.

History

Originally a relief centre for street sleepers, the office of thePeople’s Food Bank is located at Sai On Centre, Sai Ying Pun.The relief centre started operations on 24 March 1997 and stillprovides services and food for street sleepers and for the poor onHong Kong Island today.

After the financial crisis of 1998, poverty in Hong Kongworsened. A UN report on human development pointed out thatin terms of the gap between the rich and the poor, Hong Kongranked number 3 in developed areas of the world and number 1in developed areas of Asia. The SAR Government reducedComprehensive Social Security Assistance (CSSA) for the firsttime in June 1999. This caused further hardship to those whorelied on the government for their livelihood. With the economicdownturn and high rate of unemployment, the number of streetsleepers shot up and so the number of referrals to the reliefcentre for assistance continued to increase.

In November 2002, with the help of Food Link, the relief centremade an arrangement to obtain leftovers from a nearby hotel.The food, combined with vegetables, fed 12 people on averageevery day. However, in 2003, the hotel stopped supplying foodbecause of SARS and the free food service offered by the centrewas temporarily suspended.

Fortunately, a donation made by a Mr. Li meant that the servicecould be re-launched and the daily quota for meal serviceincreased from 12 to 24 – but the number of people asking forfood assistance kept rising. As a result, St. James’ Settlement

formally established the People’s Food Bank on 13 December2003 to provide the poor with temporary free food assistance.

Our Operations

The People’s Food Bank only receives a small amount ofsubsidies from the SAR Government. Benefactors donate most ofthe food, money, tools and equipment. Our main task is thecollection of food and monetary donations. Our partner agenciesin various districts in turn deliver the food to the poor. Wewelcome all Hong Kong-registered, non-profit-making agencies(which have at least 2 years’ experience in community service) tojoin us.Through the intermediary of Hong Kong-registered socialwelfare organisations, people living in poverty can also bereferred to the People’s Canteen, a subsidiary of the People’sFood Bank, for temporary free food assistance.

What can you do?

z Donate money

z Donate Food

z Become a volunteer

z Corporate Collaboration

z For more information, please contact: The People’s Food BankShop 1-3, G/F, Fortune Court, 10 Sai On Lane, Sai Ying Pun, Hong KongT 2975 8777 - E foodbank@sjs.org.hk

The People’s Food Bank

Lifestyle

24

Did you know that an estimated 1.1 million kg of plasticenters the ocean every hour of every day? Plastics andother marine debris plague our oceans and marine

ecosystems, killing more than 1.5 million sea animals a year.With plastic bags, bottles and foodware as the top 3 debris itemsfound on Hong Kong beaches, this is an issue that can’t beignored! One of the simplest ways to make a difference is byparticipating in a beach cleanup.

Organized by Ecovision Asia and presented by Nomura, TheHong Kong International Coastal Cleanup (HKICC) engagesthousands of volunteers every fall in removing trash and debrisfrom our beautiful beaches and waterways. Testament to therapidly increasing awareness levels of the Hong Kongcommunity, the HKICC has grown substantially since its humblebeginnings as a small grassroots event in 2000, with 8,690participants last year picking up 36,126 kg of trash from nearly150km of shoreline.

Ecovision’s HKICC is part of a huge global effort, coordinatedby Ocean Conservancy and now in its 26th year. Almost ninemillion people from 152 countries around the world haveparticipated in the International Coastal Cleanup,collecting nearly 145 million pounds of debris from 470,000 km

of coastline. The eight million pounds of trash collected last yearalone would cover about 170 football fields! It’s no surprise thatthe ICC is recognized as the world’s largest volunteer effort onbehalf of the marine environment.

The HKICC is much more than just an annual cleanup; itrepresents a year-round commitment to reducing the amount oftrash washing up on our shores through education, action andadvocacy. This year, as part of that commitment, Ecovision Asiais launching a region-wide “Plastic-Free Pledge” campaign tohelp reduce the use of single-use plastic, the number one itemlittering Hong Kong beaches. Participants can pledge to adoptsimple habits such as using re-usable bottles for drinks and bagsfor shopping, as well as choosing less packaging and recyclingwhenever possible.

A day at the beach can make a difference. Join more than half amillion people worldwide who are taking action to show theycare about cleaner oceans.

z To sign up a team or to take the Plastic-Free Pledge, visitwww.hkcoastalcleanup.org or call 2868-5585.

The 2011 Hong KongInternational CoastalCleanup Challenge

Lifestyle

25

Although many people think Leprosy has been eliminated,unfortunately it has not. While leprosy is mainly found indeveloping countries, with the increase in international

travel, cases of leprosy can be present anywhere.

Leprosy is a chronic bacterial infection, which mainly affects theskin and nerves. It is curable, but if detected late, it leads topermanent deformity and disability. It is spread through therespiratory route, is not highly contagious and manifestsdepending on host’s immune status. With multi-drug therapy(MDT) registered cases of leprosy have decreased significantly.Sadly, in the past 5 years there has been no decline in the numberof annually detected new cases. Apart from newly detected cases,being treated, there are many cured persons who suffer fromdreadful residual disability. These people need rehabilitation andour continuing support.

The Leprosy Project began in 1996 with support from TheRotary Club of Hong Kong South. Today we are an independentcharity, registered in Hong Kong and governed by a voluntaryboard of directors. Amongst the 12 full time employees weemploy 2 Public Health doctors. We work with the support ofthe Centre for Disease Control and Prevention (CDC) inSichuan. We have adopted 9 rehabilitation villages where 350People Affected by Leprosy (PALs) live high in the mountains inSouthern Sichuan, isolated from the rest of society.

Our motto is “Help PALs to Help Themselves”. PALS do not feelpain, as they have nerve damage, so hurt themselves easily. Smallwounds worsen without notice. To prevent disability, we train

PALs to perform self-care following guidelines used world -wide.We attain a cure rate of 90% of their sores.

The 5 top reasons to support PALs:

1. We work with transparency. You can inspect our accounts atany time to see how we spend our money.

2. We improve the Quality of Life of these forgotten PALs. Weprovide rehabilitation but also improve their livingstandards. With US$100 per month you can support onePAL growing his own crops and with simple animalhusbandry

3. To fight against discrimination.By promoting public awareness and social integration.

4. To break the cycle so that their children have a better future.We provide scholarships, and help with schools.

5. Your help will make a significant difference to their lives. Stop PALs from being buried alive - give them back theirdignity and help them to become independent.

z Donations can be made to HSBC Hong Kong: 808-275358-001.To find out more about The Leprosy Project, go tohttp://theleprosyproject.org, or visit our page on Facebook,www.facebook.com/theleprosyproject or check out the followingvideo on Youtube: www.youtube.com/watch?v=1P6AJGFG8rE

The Leprosy Project -Why we need YOU

One of the rehabilitation villages high in the mountains in Puge in Southern Sichuan

Lifestyle

26

Hong Kong is where I want to be. I grew up in Hong Kong,studied Hotel Management in Holland and returned here to dointernships at the Grand Hyatt and the Hyatt Regency. I thenmoved to Jakarta under their corporate program. After that, Icame back to Hong Kong and ran JJ’s. After working at DCHfor 2 years learning more about the wine trade, I decided tostart my own business in 2000 with a colleague at DCH and thehelp of investors. In 2005, I finally convinced the investors to letme buy the business.

Today we are one of the top three wine distributors in HongKong. We employ 50 staff in HKG and 170 in China. We firstdeveloped a network in the secondary cities before moving toShanghai and Beijing in 2007/2008. We now have offices in allthe major cities in China - Shenzhen, Guangzhou, Shanghai,Beijing, Chengdu and Wuhan and we have more than 50distributors throughout China who represent our productsexclusively. We are exclusive distributor for all the brands thatwe represent and we only work with family-owned companies.We also currently own and operate more than 40 wine shopsthroughout China.

China is a huge market but the competition is also huge.Currently about 25% of our business is done in China and therest is done in Hong Kong. China will take over eventually. Wehave mostly Chinese employees – we need local distributorssince every Chinese city has different ways of doing business.Consumption is big but it is also immature. 10 years ago, Chinaimported 200 thousand bottles of wine and HK around 1million. Today China imports 40 million cases.

There is a big misconception that transhipment to China iseasy. Documentation usually takes around 3 weeks and it’snot easy to do. The cheaper and easier option is to senddirectly to China. There are many challenges to doingbusiness in China. Documentation is one and it is alsoimpossible to predict. You can’t write a business plan as youneed to constantly adjust. Whereas Hong Kong is veryconsistent. There is also the matter of entertaining in China –which can be exhausting!

We used to spend an hour counting cash. Back in 1999 and in2000 when we went into the secondary cities in China such asSanya, Tianjin and Xian, there was nothing there – business was

China’s Growing Thirstfor WinePatricio de la Fuente Saez is founder and CEO of Links Concept, one ofthe top 3 wine distributors in Hong Kong with offices in Hong Kong andthroughout China. Patricio tells us about his business and the pros andcons of trading with China.z By Kristen Beattie

Patricio de la Fuente Saez

27

done via shoeboxes of cash and wine somehow managed to getinto the country… In those days, there was zero wineconsumption in bars and restaurants; in fact many people didn’tlike wine. South China and the Free Trade Zone developed quitequickly and suddenly the market exploded. Now Beijing andShanghai are much more mature markets. Emerging markets areSanya and secondary cities like Chengdu and Harbin, which arenow booming.

In China, it’s all about consistency. Hotels in China preferconsistency to trying new things. Often the decision making isleft to F&B and purchasing, rather than the sommelier so theyprefer the safety of consistency. In HKG, business isstraightforward but in China it is all about the deals. In generalin Hong Kong, hotels will try to create the best wine list theycan, whereas in China they are more interested in group deals –so every Marriott in China will then have the same wines.

Lafite has become the Louis Vuitton of wines. The recentscandals regarding fake wines really only concerns fine wines,which we are not affected by – but it is definitely widespread. Infact, 70% of Lafite in China is fake and it’s very obvious… Asfar as wines being smuggled into China goes, it does happen butit’s certainly not container loads – as this really isn’t easy to do.The concern is more centred around cheating with pricing, etc.

Hong Kong is truly wine obsessed. Thanks to the ease of doingbusiness here and zero tax, wine is the word on everybody’s lips.10 years ago there were 3 wine shops in Central. Now there are25 in Central alone. Before there were a handful of brandsavailable, now the choice is incredible, the range is spectacular

and the retail wine market will grow and grow. The businesshere verses the PRC is very different - immature versus mature.Zero tax versus 60% tax. Every top hotel in Hong Kong hasrecognized this and hired a sommelier – whose mission is oftento teach the market that there’s more to wine than Bordeaux.Whereas in China they still believe that Bordeaux automaticallymeans a great wine. However, this is likely to change in thefuture as the market grows and tastes mature.

It’s an urban myth! Mixing red wine with coke was apparentlyquite common in the past - but given that there was no wineculture in China and the only wine available was bad wine – I’msure the only way to make it palatable was to mix it with coke!What’s true however is that traditionally the Chinese prefer redwine as they believe that it’s more expensive and healthier –although I do see tastes changing and Chinese people becomingmore and more willing to try new things.

z Please go to www.linksconcept.com for more information on Links Concept.

....traditionally the Chinese prefer red wine asthey believe that it’s more expensive andhealthier – although I do see tastes changingand Chinese people becoming more andmore willing to try new things.

Lifestyle

Lifestyle

28

The Louis Vuitton Brand, with its famous LV monogram, isamong the world’s most valuable brands, estimated to beworth USD 19.395 billion. It’s Flagship store in Hong

Kong, located on Canton Road houses Espace Louis Vuittonand a bookstore and is an innovative space rich in culture andartistic expression.

This fall, Louis Vuitton, one of the world’s leading internationalfashion houses, is showing a wonderful group exhibition - afantastic display of work by contemporary Indonesian artists.The exhibition, named “Fantasy Islands” was kicked off with anart talk followed by a cocktail with one of the featured artists,Heri Dono and Louis Vuitton’s curator, Jonathan Thomson.

Heri Dono is among Indonesia’s most prominent and innovativecontemporary artists. Working in sculpture, installation,performance, paint and print, he brings together elements of

Indonesian artistic tradition with his own distinctlycontemporary concepts and playful imagery. His Flying angels,inspired by Flash Gordon cartoons and American robots from the1950s, also draws on the Indonesian theatre tradition of wayangpuppetry. The installation is part of an ongoing series whichbegun in 1995 and has been exhibited in many parts of the world.

It has been a big year for Indonesian contemporary art. Earlierthis year, the Espace Louis Vuitton in Paris presented anexhibition of work by eleven Indonesian artists. “FantasyIslands” will travel next to the Espace Louis Vuitton inSingapore early in 2012.

The nine artists featured in the “Fantasy Islands” exhibitionshow a great diversity of work and amazing talent. Theexhibition is open to public and continues until 31 January,2012.

Espace Louis Vuittonz By Candice Lee

Consul General Mr. Schuddeboom, Dr. Dominic Lam and Mrs. Wong of Cultural department Asia Pacific Louis Vuitton offering the Volcano book to LV, the book was made by Volcanic ashes of Iceland by the Dutch Designer Bob Derksen

Heri Domo's famous flying angels

Art talk at the launch of "Fantasy Islands"Maaike Steinebach, Derk van den Heuvel and Vanessa de Groot

Lifestyle

Dangerous Hands: Artist Haris Purnomo

The "Fantasy Islands" exhibit

Other featured work inside the LV gallery

Sculptures by contemporary Indonesian artists

Bedtime story teller: Artist Hendra (HeHe) Harsono

29

z Espace Louis Vuitton Hong KongLouis Vuitton Maison5 Canton Road, TST, Hong KongOpening Hours: Monday to Sunday, 10.30am – 9.30pm

More art columns by Candice Lee can be found at:www.lifestyleasia.com

Ladies who lunch? More like “Ladies who Launch”!Ryanne Becking has just launched her newest product onthe Hong Kong market.

Ever wondered what to send topeople back home to show themwhere you live? Or would youlike something to reminisce by?Look no further, you have foundyour perfect gift!

This classic family game has beengiven a Hong Kong twist. Thisvibrant city of Hong Kong comesto life with 40 unique picturesthat tell tales of a city gone by andone right on the cutting edge oflife. Dive into the culture, hustle,bustle and beauty of the city,whilst giving your brain a workout.

Do you know how many taxi’sthere are in Hong Kong? Or whygoldfish are such popular pets?

The answers to these questions and many more fun; in additionto interesting facts about Hong Kong, can be found in the gamebooklet.

As Nury Vittachi describes in hisbook, City of Dreams, it is “... afine way to capture a piece of themagic of a unique city. Thedrama, the charm and the beautyof Hong Kong is all here - just asis its breathless energy.”

The Hong Kong Memory gamealso makes the perfect corporategift – give a lifetime memory witha personal touch.

z For more information about the product and information on where to buy, please contact Ryanne Becking atRyanne@thinqhongkong.com

30

Hong Kong Memory Game

Lifestyle

Events

31

Tuesday 27 Sept, 8:30 -10:00, American Club, 48/F, Central The Dutch Chamber would like to thank ING for their kind sponsoring!

InterSME: Social Media: Small is the New Big This event was co-organized with the Australian Chamber and co-hosted by the German, Swedish, Belgium-Luxembourg, Singapore, French,Canadian, Italian and Norvegian Chamber.

It is not just social anymore; it's now also commercial. Social media channels are now being increasingly used for commercial purposes as moreand more firms are tapping into social media to grow their business. Already 55% of Hong Kong businesses use social media sites, such asFacebook and LinkedIn to connect with their customers. Almost 50% are "successfully" winning new customers through social media. Fourexperts of Social Media gave their invaluable insights on: 1. Best Practices of Social Media, 2. Pitfalls and best way to avoid them, 3. SpecificOpportunities for the Chinese market and 4. Social media Metrics.

Thursday 8 Sept, 18:30-21:00, 30/F Bank of China Tower, 1 Garden Road, HK

Investing in Chinese Contemporary Art This event was co-hosted with the Canadian, Norwegian and Singapore Chamber and sponsored by MI Insurance.

The market for Chinese contemporary art today is considered among the hottest and fastest-growing in the world. Over the last thirty years,cynical realism and other distinctive styles have come to maturity. Related artworks from China are demanding ever higher prices in the inter-national art market. Hence, more and more people are interested to own or invest in this field. This event was attended by more than 60 par-ticipants and speakers elaborated on how to distinguish good work, what is fair value for art pieces and how to evaluate the return on invest-ment.

Thursday 18 Aug 18:30-21:00, Bisous, 9/F, LKF Tower, 33 Wyndham Street Central

Joint Cocktail: European Summer Networking Cocktail! Together with the French, German and Swedish Chamber, the Dutch Chamber organized a successful European Networking Cocktail at thenew Show Bar, Bisous.

Events

32

Upcoming Eventsw SME BlueBizz Cocktail Part IITuesday 29 Nov, 19:00-21:00 at Kee ClubThe French, Italian and Dutch Chamber have joined forces tolaunch the second SME BlueBizz Cocktail, fully sponsored byAirfrance KLM. The cocktail will take place at Kee Club and100 guests are expected from the 3 chambers. Airfrance KLMwill give a presentation on the SME BlueBizz Programme fol-lowed by a Quiz by Urban Discovery. The winner of the Quizreceives a fabulous prize from Airfrance KLM. All participantsof the evening have a chance to win the Lucky Draw Prize spon-sored by Airfrance KLM. As there are limited tickets available,please register as soon as possible.

w Munch on the Move to INGThursday 8 Dec, lunch event

w SME Christmas Cocktail

Thursday 8 Dec, 19:00-22:00 at W52,

52 Wyndham StreetDon’t miss this last event of the year; the SME committee willorganize this Christmas Cocktail with the Soapbox!

We have already invited Santa Claus and Sinterklaas to attendand they have kindly accepted our invitation. Collect yourChristmas outfit and save the date. If you would like to partici-pate and give your story on the soapbox, please contact usdirectly via info@dutchchamber.hk

Please note that fabulous prizes can be won!

Tuesday 21 June, 18:30-21:30, Shore, 3-4 floor, the L Place, 139 Queen's Road Central

The 47th InterCham Young Professional Cocktail The 47th InterCham Young Professional Cocktail was attended by 380 members from the 28 Chambers of Commerce in Hong Kong. Thistime, it was organized by the South African Women Chamber of Commerce, the American Chamber and the Swiss Chamber. All proceeds ofthis event have been donated to Po Leung Kuk.

Tuesday 20 Sept, 8:00-10:00, American Club, 48/F, 2 Exchange Square, Central

It's Time to lead - Insights into the Future of Work by Randstad This event was sponsored by Randstad Hong Kong ltd.

The need for effective leadership is clearly evident in this year's The World of Work Report, which gathers the perceptions of both employeesand employers to truly understand the human capital challenges that exist in Hong Kong today. This seminar covered a vast array of HR issues;driving the productivity agenda, bridging the leadership gap and managing employee mobility, while coping with an employee-driven marketwhere employees are demanding competitive remuneration and benefits packages.

For more information, please visit our website: www.dutchchamber.hk

33

It is 10 years ago that I was sent as an expatto Hong Kong by MeesPierson. That was ata time that not many of my colleagues in

Holland were keen to move to Asia. How thingshave changed over the past 10 years. In thisperiod I left Hong Kong twice and both times Icame back and now I am here to stay. As manyof us have found out, it is hard to leave HongKong.

It is amazing what we have seen in Hong Kongover the past 10 years; the growth we haveexperienced but also two property marketcrashes. I am convinced the next 10 years will beas exciting as the past decade.

In 2008, we established a pretty successful teampartnership, together with Lodewijk Lamaisonvan den Berg and 2 other former MeesPiersoncolleagues, on the platform of EFG Bank, aSwiss private bank. EFG Bank enables us tobuild our own long-term business in Asiaoffering old-fashioned private banking andportfolio management services to internationaland mostly entrepreneurial clients. Buildingyour own business means being able to reallyfocus on clients rather than on corporatepolitics. This is has also been recognized by ourclients as EFG Bank won the best Pure PlayPrivate Bank in Asia award this year by AsiaMoney poll based on client votes.

I believe in Hong Kong as this city will offer bigopportunities in the coming decade. Theimpact China has had on Hong Kong in thepast few years is only the beginning. One of theeffects we are feeling is that our city’s growth isnow driven by China’s economy. This hascertain impacts. One of them is that throughthe Hong Kong dollar peg to the US dollar, theHKD has become too cheap. This means thatinflation in Hong Kong is now at 7.9% andwill likely rise further. Basically the HKDwould need to re-peg to the USD at a higherlevel or even peg to the Renminbi. Another

option is that the Renminbi will replace theHong Kong dollar sooner than expected andwithin 5 years Hong Kong could become a dualcurrency economy.

A second impact is that Hong Kong is feelingmore of China ups and downs. We are alreadyseeing that in the stock market movements butwe will also see that in the property markets.Over the next 6 months China’s and HongKong’s property market could cool off quite abit. This will then offer new opportunities for allthose long-term expats who forgot to buy in2003 and 2009.

The impact of China’s growth is not only felt inHong Kong. Another interesting signal of theinfluence of China was last month’s Monacosuper yacht show. This year’s show was,contrary to what you might expect, bigger thanever. One of the key reasons is that Chinese arewarming up to yachting. Personally I like sailingand fortunately Hong Kong has already a livelyracing scene.

EFG Bank is an active sponsor of sailing and inAsia we are sponsoring one of the top racingboats: EFG Bank Mandrake. Yachtingenthusiasts should check www.efgsailing.com

Hong Kong is one of the most multi-culturalcities I know and will continue to offer greatopportunities for entrepreneurs and for Dutchcompanies.

As doing business Hong Kong is about yournetwork I would like to pass the pen to Job vander Noord, who has recently started his tradingcompany, “JN Marine Ltd.” in Hong Kong. Thecompany sources and sells parts, accessories andLED lighting products for pleasure boats andcommercial vessels and sells a full range of LEDlighting products for on-shore use.

Passing the penCity of opportunities

By Harmen Overdijk,Senior Vice President EFG Private Bank

harmen.overdijk@efgbank.com

Talking Point

Enquiries & Information

34

INTERNSHIPDear Sir / Madam,

My name is Laurent Schouten and I am currently studying Civil Engineering at The Hague University for AppliedSciences in The Netherlands, specializing in both Structural and Hydraulic Engineering combined with GeotechnicalEngineering. As I am coming to the graduation phase of my studies, I am now looking for a suitable internship inHong Kong within the mentioned branches of Civil Engineering for a period of six months, starting at the end ofOctober 2011 and ending in April 2012. The purpose of this internship is to do a research on a specific subject deter-

mined by myself with the agreement of both my university and the company where I will complete my internship. My goal is to workon challenging and innovative projects in an international Civil Engineering environment where I can use my creativity and resource-fulness to find appropriate solutions. I feel that Hong Kong has a lot to offer due to it’s complex location and limited land surfaceon which to build and therefore I would like to do my graduation internship in Hong Kong.

My previous internships in 2009 were with the Dutch company DHV which specializes in international engineering projects and withBallast Nedam, a renowned Dutch construction company. At DHV I worked with 3D structural design programs and wrote a hand-book on 3D drafting to be used in international projects. My internship with Ballast Nedam on the New Babylon project in the lat-ter half of 2009 concerned the building process itself and included planning, technical drawing and the synchronization of the vari-ous parties in this process to solve problems and ensure progress and continuity.

At the end of this second internship in February 2010, Boele & van Eesteren offered me a part-time contract on the New Babylonproject to assist them in improving the efficiency of their construction process. I currently am involved in the planning, coordinationand synchronization of all involved parties in order to ensure that deadlines are met. In this same period I also successfully complet-ed a course in Communication and Neuro-Linguistic Programming in order to develop my skills as a communicator which I feltwould ensure me better results in my professional life.

More recently, in August 2011 I started working part time as a drafter for a section of the A2 motorway in The Netherlands. Myduties here comprise of checking and correcting as-built drawings for a 17-kilometre section of the motorway according to the stan-dards of the Dutch government (Rijkswaterstaat).

For your reference, please find attached my curriculum vitae with a more detailed description of my educational and professionalbackground and experience.

Yours Sincerely,

Laurent Schouten Please go to www.dutchchamber.hk to view Laurent’s CV.

Merison (www.merison.com) is a successful privately-owned company specialized in the development, sourcing and distribution of(licensed) brands for use in and outside the home with focus on table top, kitchen and outdoor / barbecue products.

JAMIE OLIVER, LAURA ASHLEY and THE SMURFS are the main licensed house wares and life style brands currently in our portfo-lio, although other brands are continually being assessed. Brands are the key for the further growth and success of the company.

The Merison head office is located the Netherlands and manages the sales offices in UK, USA, Germany and Hong Kong.

Merison has its own sourcing and buying offices in Hong Kong and China. The team consists of European and local staff. The inte-grated Hong Kong Sales office with large showroom is an independent sales office for the Asia Pacific region, currently with a focuson Australia and New Zealand.

To grow Merison’s business in the region and support the role of the Hong Kong office in sales activities for other regions, Merisonis looking for an young and energetic,

Sales Manager Asia Pacific (based in Hong Kong)The regional Sales Manager is responsible for realizing the regional objectives / budget and manages a team of back officesales support: customer service, marketing and shipping – logistics. He / she reports directly to the CEO based in the headoffice in The Netherlands. The Hong Kong sales office is connected to the central database and ERP.

QUALIFICATIONS

z Minimum 5 years experience in sales in consumer brands z Experience in house hold items and home textiles is an advantagez Sales experience with retail in Australia is an advantage. z University or Business School Degreez Entrepreneurial, self motivated, pro-active, hands-on, achiever z Experienced in working with ERP systemsz Excellent written and spoken communication and negotiation skills in English.

A competitive remuneration package is offered. Interested? Please send your resume, motivation and expected salary and benefits toour Sales Director by email: rhollaender@merison.com.hk

Merison Retail (HK) Ltd. Suite 610 ,6/F, Chinachem Golden Plaza, 77 Mody Road,TST - East, Hong Kong, Tel : 852 3105 1113, Fax : 852 3105 1114 merison the art of kitchen & living

35

Enquiries & Information

IN THE NETHERLANDS

Pan Amsterdam Location: RAI Parkhal (Hall 8) AmsterdamDate: 20-27 November 2011Exhibit: art, antiques and design fair Organiser: Pictura Antiquairs Nationaal bvEmail: info@pan.nlWebsite: www.pan.nl

Lab Career EventLocation: Amsterdam RaiDate: 22 November 2011Organier: Hyphen Projects BVEmail: info@labcareer.nl Website: www.labcareerevent.nl

Fleet Expo 2011 Location: Amsterdam RaiDate: 24 November 2011Exhibit: annual innovation and network plat-form for fleet and mobility managementOrganiser: Rai ExhibitionsEmail: i.verhallen@rai.nl Website: www.fleet-expo.nl

Geo-Info XchangeLocation: Jaarbeurs UtrechtDate: 30 November – 01 December 2011Exhibit: geoproduction, applications and servicesOrganiser: VNU ExhibitionsWebsite: www.geoinfoxchange.nl

EWEA Offshore 2011Location: Amsterdam RAIDate: 29 November-01 December 2011Exhibit: wind energy conference and exhibitionOrganier: European Wind Energy AssociationEmail: events@ewea.org Website: www.offshorewind2011.info

Strategie Summit Energie & Utilities 2011Location: Landgoed Duin & KruidbergDate: 14 December 2011Exhibit: energy & utiltitesOrganier: VNU Exhibitions Email: Juliette.bosch@vnuexhibitions.com Website: www.strategiesummits.nl

IN HONG KONG / CHINA

Asian Logistics & Maritime ConferenceLocation: HKCECDate: 25 November 2011Organiser: HK SAR Government and HKTDCWebsite: www.asianlogisticsconference.com/en/index_en.htm Email: alc@hktdc.org

Inno Design Tech ExpoLocation: HKCECDate: 01-03 December 2011Organiser: HKTDCEmail: idtexpo@hktdc.orgwebsite: www.hktdc.com/innodesigntechexpo

HKTDC World SME ExpoLocation: HKCECDate: 01-03 December 2011Organiser: HKTDCEmail: worldsmeexpo@hktdc.org Website: www.hktdc.com/fair/worldsmeexpo-en

HK International Licensing ShowLocation: HKCECDate: 9-11 Janaury 2012Organiser: HKTDC Email: licensingshow@hktdc.org Website: www.hktdc.com/hklicensingshow

Asian Financial Forum Location: HKCECDate: 16-17 January 2012Organiser: HKTDCEmail: aff@hktdc.org Website: www.asianfinancialforum.com

Trade Show Calendar

These trade enquiries were received by the Economic Section of the Consulate-Generalof the Netherlands in Hong Kong.Interested parties may approachthe companies directly or contact Betty Liu, the Consulate’strade officer, on (852) 2868 0690, by fax to(852) 2868 5388 or via emaileconomic.section@netherlands-cg.org.hk

Hong Kong agents wantedWine •Passion & Beyond •heiko@planet.nl •Contact: Mr Heiko Oberman

Trade enquiries

Our Services

The Dutch Chamber ofCommerce in Hong Kong offersadvice and assistance to itsmembers. Areas where we canhelp include:

• Providing organising and networking facilities;

• Planning programmes for student groups and overseas delegations;

• Providing updated informationon legal systems;

• Preparing specific promotions or organising tailor-made seminars;

• Providing updated information about financial systems;

• Using our members' know how;

• Invitations to annual functions such as the Dutch Business Awards Gala Dinner and the China Seminar; and

• Providing useful information on our website.

Membershipand annual fees

• Gold MemberHK$ 17,050

• Corporate MemberHK$ 7,150

• SME MemberHK$ 2,500

• Associate MemberHK$ 2,500

• Young ProfessionalHK$ 1,375

• Overseas MemberHK$ 2,200

NO JOINING FEE

GOLD, SME & CORPORATEMEMBERS ENJOY VOTINGRIGHTS

DutchCham Committees

36

To promote a networking

and informationplatform for business relations between theNetherlands, Hong Kong, China and the Asia-Pacificregion.

DutchCham Information

MEMBERSHIP COMMITTEE

• Tom Voûte (Chairman)• Eduard Wehry• Job van der Noord• Matthew Hoyle• Christiaan Kaptein• Jacqueline Baud

CHINA COMMITTEE

• Vincent Homrighausen (Chairman) • Connie Leung• Harold van Kooten• Diederik Maessen• Jacqueline Baud • Faith Fung

SME COMMITTEE

• René Theil (Chairman) • Bas Fransen • Hans Pompen• Tom Uiterwaal• Ester van Steekelenburg• Jacqueline Baud

TAX COMMITTEE

• Sytske Kimman (Chairman)• Jennifer Chan• Eric Kampman• Pieter de Ridder• Willem Hoogland• Diederik Werdmolder• Jacqueline Baud

PR AND PUBLICATION COMMITTEE

• Alexander de Nerée tot Babberich (Chairman)

• Kristen Beattie (editor)• Diederik Heinink• Candice Lee• Faith Fung