Australian businessman Vaughn Barber says he enjoys his life－with his wife and daughter－in Beijing. (Photo provided to China Daily)
Vaughn Barber believes good business is built on trust. And, to that end, he wants to serve as a bridge between Chinese and foreign companies.
"It is something I can do to contribute uniquely," says Barber, 46, global chair of KPMG global China practice.
Over the years, his firm has helped Chinese State-owned and private companies conduct overseas mergers and acquisitions in sectors such as energy and power, mining, financial services, manufacturing and infrastructure.
When he was at school in Brisbane, Barber's father had suggested that he connects with China in the future. Learning Chinese would give him an advantage, he says his father told him then.
"That decision I made with his advice when I was so young has actually changed the course of everything," Barber says.
Barber's learning of Chinese allowed him to come to China on a scholarship for a year's study in 1987. The program, started by the Australian government, included language training in the first half of the year and attending classes with local Chinese students later. Barber also got chances to visit different cities here.
"After being in China, I understand better that money makes the world go around, and having a good understanding about business is important," he says.
Barber became a chartered accountant after college and worked in Australia for three years. He joined KPMG Hong Kong in 1996 as an assistant manager and became a partner in 2000. He moved to Beijing in 2011 and continues to work with Chinese outbound investors.
During his years in Hong Kong, Barber had many opportunities to visit the mainland. So he was asked to work out of Beijing to help foreign companies aiming to enter the Chinese market at the time. However, Barber noticed that more Chinese companies were looking to acquire important assets overseas by then.
"I said: 'No, my role is to advise Chinese companies going into the world,'" he recalls, explaining that he had realized it was an area KPMG needed to focus on.
From 2007, Barber, who combined his accounting skills with communication in Chinese, began leading a team in Hong Kong that provided tax advise to Chinese companies going abroad.
After moving to Beijing, he became head of the China outbound investment business for KPMG and chair of its "global China practice" in 2016.
His team has been following China's economic policies closely, such as the development goals stated in the 13th Five-Year Plan (2016-20).
When the Chinese companies were seeking overseas investment opportunities earlier, his company published reports to help Australia understand Chinese investors better, as well as help Chinese companies understand the global markets better.
When KPMG started its "global China practice" in 2013, it was more about supporting Chinese foreign investors, he says.
"But also we think that we need to help foreign companies understand the opportunities and the changing environment (as projected) in the 13th Five-year Plan and beyond, and how they can engage in the Belt and Road Initiative."
In the past years, Barber and his team have made efforts to help their in-house colleagues around the world understand China better. For example, they carried out an internal online education campaign called China Confident Program, to give teams information about Chinese culture, history, business practices and the economy. The program was designed by some bilingual members in the company like Barber who have lived in China for a while.
"When they (Chinese companies) go into new markets, they need to work with our local teams because they need the best advice. So we worked together with the local team," he explains.
Barber says requests for the program have been made by KPMG teams especially in countries that are seeking to engage with China-related businesses effectively.
But he says that China's profile tends to differ from other countries and misunderstandings about China still exist in a few places.
"China has a role to play, too. More communication coming this way will improve the situation," he says, adding good company behavior and people-to-people interactions are important.
Barber is frequently seen at seminars organized by the Chinese government, speaking on how Chinese investors can do more worldwide and on China's economic development.
While trying to provide advice based on his own expertise, Barber believes participating in such forums also helps him better understand the country's development.
"You can't wear the glasses coming from outside China and apply that to China. You need to understand the context, which requires an investment of time and also requires you to live here," he adds.
Barber, who lives with his wife, a Chinese he met in Hong Kong, and their daughter, says he is accustomed to life in Beijing and spends most of his spare time with family and friends.
"I enjoy my life here. It's a cosmopolitan place," he says.
Since his first trip here in the 1980s, Barber has witnessed China change really quickly.
The quality of life is much better today and China is more open and confident, he says.
"It's also why it's important to engage foreign companies. There are opportunities, and by participating constructively, you contribute to the process of opening-up reform and the livelihood of normal people."
