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CPA Australia: Two-thirds of accounting and finance professionals expect Greater Bay Area investment to surge

HONG KONG SAR – Media OutReach – 22 September 2022 – Two-thirds of accounting and finance professionals expect corporate investment in the Guangdong-Hong Kong-Macao Greater Bay Area to surge in the next five years, a report from leading global accounting body CPA Australia shows.

(from left to right) Eden Wong, CPA Australia President of the 2022 Greater China Divisional Council and Chair of the Financial Services Committee and Wilson Pang, Divisional Councillor in Greater China and Deputy Chair of the Greater Bay Area Committee at CPA Australia

(from left to right) Eden Wong, CPA Australia President of the 2022 Greater China Divisional Council and Chair of the Financial Services Committee and Wilson Pang, Divisional Councillor in Greater China and Deputy Chair of the Greater Bay Area Committee at CPA Australia

CPA Australia’s report Seizing Success and Connectivity in the GBA: Financial Services found almost half of respondents expected green finance and carbon trading will play a major part of their business’ activities in the area over the next five years.

CPA Australia surveyed 483 accounting and finance professionals and 17 policymakers, regulators and business leaders across the GBA cities for the report.

CPA Australia President of the 2022 Greater China Divisional Council and Chair of the Financial Services Committee Eden Wong said the GBA was on a strategic mission to break new ground, which will lead to an influx of capital in the region.

“The GBA is one of the world’s wealthiest megalopolises, with the highest concentration of high-net-worth individuals in the world,” he said.

The potential minimum investable assets of wealthy families in Guangdong, Hong Kong and Macao grew from an estimated US$365 billion in 2017 to US$415 billion in 2021.

“To capture these unprecedented opportunities, many corporates have strategically planned to increase investments in the GBA in the next five years,” Wong said.

The report identifies six major influences on investments in the GBA over the next five years:

  1. Corporate investment will grow
  2. More active green finance and carbon trading activity
  3. More efforts to improve capital flow openness
  4. Digital payment technology adoption will enhance connectivity
  5. More resources for talent availability
  6. Closer collaboration among authorities

“Regulators have endeavoured to establish an ecosystem in Hong Kong to guide and support companies towards the path of a low-carbon and sustainable transition,” Wong said.

“They have set a strategic framework and agenda for green and sustainable finance and published guidance on sustainability-related disclosures.

“Hong Kong may play a role as a super connector to link China’s carbon trading scheme with the rest of the world and set the GBA on a fast track to improve the quality and efficiency of green and sustainable finance. We suggest the authorities across the GBA cities explore the possibility of establishing a unified carbon trading market to serve both domestic and international investors.”

More than one third of respondents said the openness of capital flow was a key advantage for businesses operating in the GBA. “Cross-border capital flow continues to grow and the use of the Renminbi in global transactions is increasing,” Wong said.

Businesses in the GBA are facing a global talent shortage. Respondents said more resources for talent availability would drive positive improvements over the next half a decade; seven in 10 called for more policy support to tackle this issue.

Forty-one per cent of respondents nominated mutual recognition of professional qualifications as the most critical factor to expand the talent pool in the GBA.

“Talent availability is an indispensable part of success”, Wilson Pang, Divisional Councillor in Greater China and Deputy Chair of the Greater Bay Area Committee at CPA Australia said.

Pang said there continued to be multiple accreditations for professional qualifications across the GBA mainland cities and the Special Administrative Regions.

“To dismantle this barrier and accelerate the movement of talent, regulators and professional bodies should explore ways to simplify accreditation processes and encourage young professionals to accumulate practice experience by working in other GBA cities,” Pang said.

“Policy makers, regulators and investors who contributed to our report expressed the need to deepen future collaboration to tackle these issues.

“Recently announced measures in the GBA cooperative zones encompassing Qianhai, Hengqin and Nansha could encourage further cross-boundary investments.”

According to Pang, “Regulators and corporates across the GBA should make a concerted effort to buttress the advantages in the region such as the openness of capital flow and the high quality of financial infrastructure.”

Hashtag: #CPAAustralia

The issuer is solely responsible for the content of this announcement.

About CPA Australia

CPA Australia is one of the largest professional accounting bodies in the world, with more than 170,000 members in over 100 countries and regions, including more than 22,200 members in Greater China. CPA Australia has been operating in Hong Kong since 1955 and opened our Hong Kong office in 1989. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at

Floodwaters Sweep Away Truck in Oudomxay

Video of a truck washed away by floodwaters in Oudomxay Province on Tuesday went viral on social media. Fortunately, nobody was harmed in the incident but the truck was badly damaged.

Laos Discusses Learning Solutions at UN Summit in New York

Minister of Education and Sports of Laos, Mr. Phout Simmalavong and Minister of Foreign Affairs, Mr. Saleumxay Kommasith at the UN summit.

A delegation from the Ministry of Education and Sports, accompanied by UNICEF Laos, has concluded its mission to New York for the global Transforming Education Summit.

All M1 Mobile Plans are now 5G

M1 customers can now enjoy True 5G seamlessly across all mobile plans

SINGAPORE – Media OutReach – 22 September 2022 – M1 Limited (M1), one of Singapore’s leading Mobile Network Operators (MNO), today announced that all its mobile handset plans will come with True 5G. Consumers who sign up for the first time or re-contract on any M1 mobile plans will get to enjoy True 5G on M1’s 5G Standalone (SA) network, which offers customers faster speeds, enhanced connectivity, and close to real-time network responses.

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M1 will also offer existing customers a free 5G SIM card upgrade, as part of concerted efforts to enhance consumers’ experience so that they can enjoy the benefits of 5G. In addition, customers can complete their 5G journey by taking advantage of M1’s trade up program – where customers receive attractive trade-in values for their old phones and upgrade to new 5G enabled devices. To fully experience M1’s True 5G connectivity, customers can head over to M1 Shop at Peranakan Place and test out the recently launched 5G-powered cloud gaming service, Zolaz.

M1 continues to put its customers first, and aim to expand 5G adoption among consumers by giving them easy access to the 5G network, which lowers the barrier to entry for them to kickstart their 5G journey and begin optimising the way they live, work and connect. As one of the leading 5G SA network operators in Singapore, M1 looks forward to delivering greater innovation and bespoke services to consumers as well as enterprises through seamless 5G connectivity.

Available in more areas now, M1‘s True 5G SA network covers about 90% of Singapore including CBD, Marina Bay Financial Centre, key town centres and high data usage areas such as Ang Mo Kio, Bishan, Chinatown, Clementi, Orchard Road, Pasir Ris, Paya Lebar, Sengkang, Tampines and Woodlands. As a frontrunner in Singapore’s 5G development, M1 has embarked on early 5G SA use cases and trials as early as 2019. Following its official True 5G rollout in mid-2021, M1 has made significant progress across various industries through commercialised 5G use cases and has brought greater benefits to consumers beyond high-speed connectivity.

Hashtag: #M1

About M1

M1, a subsidiary of Keppel Corporation, is Singapore’s first digital network operator, providing a suite of communications services, including mobile, fixed line and fibre offerings, to over two million customers.

Since the launch of its commercial services in 1997, M1 has achieved many firsts – becoming one of the first operators to be awarded one of Singapore’s two nationwide 5G standalone network licences, first operator to offer nationwide 4G service, as well as ultra high-speed fixed broadband, fixed voice and other services on the Next Generation Nationwide Broadband Network (NGNBN).

M1’s mission is to drive transformation and evolution in Singapore’s telecommunications landscape through cutting-edge technology and made-to-measure offerings. For more information, visit




Laos Economic Growth Rating Lowered by ADB

Lao kip to go digital

The Asian Development Bank (ADB) reduced the economic growth recovery predictions for Laos due to supply disruptions and rising commodity prices that have increased inflationary pressures.

OPPO joins the FIDO Alliance, accelerating the arrival of a new era of passwordless sign-ins

The replacement of traditional password-based authentication mechanisms with leading passwordless technology will allow OPPO users to benefit from faster, more convenient, and more secure logins across different accounts, services, and platforms.

SHENZHEN, CHINA – Media OutReach – 22 September 2022 – OPPO announced today that it had joined the FIDO (Fast IDentity Online) Alliance, an open industry association with a mission to develop authentication standards that reduce the world’s over-reliance on passwords. As a member of the Alliance, OPPO will support the development and implementation of the latest FIDO standards for passwordless logins, utilizing basic public passkey cryptography and the protocols defined by FIDO to provide users with a fast, user-friendly, and secure sign-in experiences across services. OPPO will also work closely with other members of the Alliance to develop and promote FIDO Authentication certifications to mitigate the overreliance on password-only logins within different services.

Today’s average internet user has dozens of online accounts, making managing large numbers of passwords a very time-consuming and frustrating task for both users and organizations. At the same time, password-only authentication methods suffer a few severe setbacks. These range from the high administration costs involved in changing and resetting user passwords to the considerable security risks from weak passwords and password reuse across multiple accounts. As such, there have been calls across the technology industry to move towards a sign-in mechanism that can mitigate the reliance on passwords or even replace them entirely.

Founded in 2012 to help reduce the world’s over-reliance on passwords, the FIDO Alliance works to develop standards for password-free identity authentication and login for websites, services, and applications worldwide. The Alliance’s latest authentication specification, FIDO2, provides a secure and convenient technical framework supported by companies including Google, Microsoft, and Qualcomm.

Following its entry into the FIDO Alliance, OPPO will actively use FIDO standards on its smart devices and work on optimizing user experiences and improving authentication security. In the future, users can use OPPO smartphones to work as a “passkey” to log in to different services across browsers, apps, and platforms, which helps to create a seamless connected experience. When using multiple smart devices, including new devices and nearby devices belonging to others, users can automatically access their FIDO credentials on the core OPPO device without re-enrolling every account on other OS platforms or browsers.

As a member of the FIDO Alliance, OPPO will also join the different technical and regional FIDO working groups, through which OPPO will make technical contributions to bringing password-free login technology to more use cases and services.

In the digital world, greater information flows lead to greater security challenges. Through its brand proposition of “Inspiration Ahead,” OPPO will work with partners across the industry to create more secure and convenient password-free connected experiences that enable new intelligent experiences for more users.

Hashtag: #OPPO

Thailand and Vietnam Become Crypto Hubs of ASEAN

Vietnam cryptocurrency

Thailand and Vietnam have surpassed Singapore as the top crypto trading centers among the ten members of the Association of Southeast Asian Nations (ASEAN).

The 2022 “The Glory of the Centennial NTNU, a century of Taiwanese Design History” Exhibition has officially launched

TAIPEI, TAIWAN – Media OutReach – 22 September 2022 – “The Glory of the Centennial NTNU, A century of Taiwanese Design History”, a commemorative significance exhibition organized by the department of Design to honor the centennial of National Taiwan Normal University (NTNU). The opening ceremony was held remarkably on September 7th at the Taiwan Design Corner. Relevant documents, historical materials and the progression of art design creation were displayed in the exhibition. In addition to that, Daji Culture contributed numerous valuable Taiwanese historical materials to reveal the design development in the past century.

With the support of Taiwanese entrepreneurs and senior designers, Professor Lin Pan-Sung raised 1 million to establish the
With the support of Taiwanese entrepreneurs and senior designers, Professor Lin Pan-Sung raised 1 million to establish the “Taiwan Design Research Award” in order to expand and to encourage more design research in Taiwan.

Honorary Professor Lin Pan-Sung from the Department of Design is the official tour-guide for the exhibition, introducing the historical stories of the works and cultural relics. President Wu Cheng-Chih, Dean of the College of Arts Liu Chien-Cheng, Director of the Department of Design Su Wen-Qing, and up to a hundred entrepreneurs and senior designers gathered to witness the important moments in the past century.

In view of the fact that “Taiwanology” is a prominent study in the current academic field, Professor Lin Pan-Sung took the lead in promoting and expanding the research of Taiwan Design, by raising NT$ 1 million to set up “Taiwan Design Research Award”. The main core is to encourage and explore local design resources and the uniqueness of historical development in Taiwan, enhance and to promote long-term research of Taiwan’s design academics.

Professor Lin Pan-Sung proclaim that NTNU has played an important role in the inspiration of modern art and design of education in Taiwan. Since Taihoku High School period, numerous excellent teachers such as Shiotsuki Toho, Mo Ta-Yuan, Lin Yu-Shan, Liao Wei-Lin, Wang Chien-Chu, Su Mao-Sheng, Wang Hsiu-Hsiung and more dedicated themselves in the education of design in NTNU which has influenced countless students over the past century. Truthfully aim that the veins and texture of the design will get clearer while laying a solid foundation for the next century through the Centennial Design Exhibition.

Date and Time: 7 Sept – 29 Sept (Weekdays 2-5pm; Weekends 9-5pm), 9/9-11 and Mondays are not available
Venue: Taiwan Design Corner
Organizer: Department of Design, NTNU

Hashtag: #DepartmentofDesignNTNU