Growing Up in Hong Kong – by Belinda Wong

Life is never easy in Hong Kong. When I was a kid, the percentage of girls receiving proper education was low.  Girls having higher education was much rarer. Boys were expected to do good at school and then at work.  No such expectations for girls. Luck was always on my side. I passed all the examinations which I needed to pass to move on to the next level.  My formal education ended being a graduate of the Chinese University of Hong Kong with a major in Sociology.  I was having a free time at school and then free choice in my career.

We all have to work after graduation.  As Sociology is a theoretical subject, there is no clear career path for students.  I checked around some professional examinations and decided to give it a try for the company secretarial industry.  This industry is mainly the implementation of corporate law with minor coverage on tax and accounting.  It is little known as a profession not only in the USA / Europe but even in Hong Kong.  I first got a job at a small firm, then moved on to big audit and law firms after passing all the subjects of the Institute of Chartered Secretaries and Administrators.  This industry practitioners are now renamed as Chartered Governance Professionals. Theoretically, these professionals are for investor protection and upholding the governance standards of the enterprises they work.

After working in different firms for a few years, I started having a client portfolio to take care of.  Without any serious thought or intention, I treated the portfolio as my own.  At the beginning of each month, I reviewed the time costs and determined which clients should be billed for work done.  At month end, started chasing clients with outstanding invoices. During that time, I sensed that I did not have enough marketing knowledge nor skill.  I, therefore, took a part-time MBA course to better equip myself.

In mid-1990 to early 2000, the accounting profession had undergone drastic changes.  There had been mergers as well as the collapse of big audit firm.  Non-audit services came under severe scrutiny.  I was then working at one of the big audit firms.  Business and company secretarial services in various firms were sold out to avoid the restrictions.  Our team had the same fate.  It was sold.  I then realized that being an employee had no choice of the firm nor boss I worked for.  A faint idea of working on my own began to sprout out in my mind.  Professional service needs creditability.  This prompted me to join the HK Institute of Directors and took the examination of the Hong Kong Investment & Securities Institute.  Today, I am a fellow member of both Institutes.

In 2010, I set up my own company.  While pondering how to build up a brand name, a friend told me that CCH Hong Kong (now under the name of Wolters Klumer Hong Kong) was looking for an author to write the Hong Kong Company Secretary Practice Manual (Practice Manual). I approached the publisher and got the mandate to write the book. The then project manager commented that “it must have been your dream to write books”.  My answer was in the negative.  In fact, I only wanted to make a name for myself as an industry expert. The first edition was published in the year 2011.  As there have been lots of changes in the HK corporate law, new editions are produced almost every two years. Now the 6th edition of the Practice Manual is now in the market. Writing is an exercise to dig deep into the subject. Through these books, I have been able to identify issues in the Companies Ordinance (Cap 622) and share with market practitioners how to enhance our knowledge and skill sets in the industry.  

At the end of 2019, I was approached by the Startup Club to manage the Startup China Club platform from Hong Kong.  With some hesitation, I accepted the appointment in February 2020 because COVID 19 started spreading wide and far.  It should be a good opportunity for online networking.  My main involvement is to post some business news regularly there.  Slowly people began to take me as someone linked with startups.  Some sent me pitch decks for forwarding to investors while others invited me to join their networks.  Since then, I have been appointed as an Advisory Board Member of Unify Platform AG and recently a partner of James Spurway to assist early stage startups in getting proper advice in fundraising / investors.

Hong Kong  My main business remains in corporate governance.  Since March 2018, all corporate and trust service providers have to be regulated by the Registry for Corporate and Trust Service Providers.  Many ladies should be working in these licensed companies.  Companies listed in the Hong Kong Stock Exchange also require to appoint a company secretary.  The role is to advise the board of directors to fulfill all the legal and compliance requirements under the relevant laws as well as the listing rules.  He/she is usually responsible for handling the governance and compliance matters.  Chartered Governance Professional (CG) is one of the recognized professions to qualify for the appointment.  The other two professions are lawyers and accountants. It is unclear how many appointed company secretaries are lawyers cum CG and accountants cum CG.  

Perhaps it is time for CG practitioners to come forth to share how they would upgrade and expand their skill sets and knowledge in order to be recognized as professionals.

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