Mr. Zhang Ke, Chairman of ShineWing International met HE Ms. Jan Adams, Australian Ambassador to the People’s Republic of China (PRC) at the Australian Embassy on 2 June 2017. They had an in-depth discussion on the macroeconomic environment of the two countries, investment climate, development of industry standards and professional services.
Ambassador Adams noted ShineWing’s impressive growth, from its founding in 1999 to become the 8th largest accounting firm in China. She congratulated Chairman Zhang on the establishment of ShineWing Australia in 2015 and recognised the contribution ShineWing had already made to increased Chinese investment in Australia. Ambassador Adams said the Australian government recognised the important role professional services providers, like ShineWing, play in facilitating successful investment between Australia and China. Investment between the two countries is growing strongly, building on the strong foundation of the China Australia Free Trade Agreement. As this growth continues, the role of professional services firms in identifying the right partners and investment opportunities would be critical.
Ambassador Adams noted that the Australian Government wanted to facilitate a mutual recognition agreement between Australian and Chinese accounting bodies. The waiving of some courses and exams would make it easier for accountants to gain qualifications in both countries, further strengthening cooperation between the two countries.
Mr. Zhang felt honoured to be invited by the Ambassador to the meeting. Mr. Zhang said, “Chinese foreign direct investment (FDI) to Australia topped AUD42 billion in 2016, with an impressive average annual growth rate of 25% since 2009. ShineWing’s clients alone have made AUD14 billion investments in Australia, which account for one-third of the total FDI. Meanwhile, the focus of Chinese investments in Australia has widened from natural resources to a broader range of industries, including agriculture, food, infrastructure, healthcare, real estate and tourism. Professional advisors like us act as an intermediary, who connects partners, protects enterprises and guides investments in the engagements. We have been actively involved in economic cooperation.”
Mr. Zhang, being the Deputy President of the Chinese Institute of Certified Public Accountants (CICPA), and also one of the four honorary members of CPA Australia in China, also shared that the Ministry of Finance of PRC and CICPA had similar experience in reaching mutual recognition agreements with the accounting associations in Hong Kong and the European Union. Mr. Zhang indicated that ShineWing would be willing to provide full support to facilitate the mutual recognition of accounting qualifications and professional standards.
Ian Macintosh, Counsellor (Commercial) – Trade Commissioner, Dene Yeaman, Counsellor (Economic), Alexandra Dawes, First Secretary (Economic) to the Ambassador, Xin Li, Interpreter to the Ambassador, Kevin Lam, Advisory Partner of ShineWing, Jessica Wang, Audit Partner of ShineWing and Joseph Xiang, Manager – International Development of ShineWing also attended the meeting. Both parties were excited to engage in this constructive dialogue and looked forward to building long-term relationship to drive China-Australia bilateral investment activities.