As chief financial officer for China\u2019s largest internet company, Curtin graduate John Lo is an expert in innovation and what it takes to succeed in the rapidly evolving world of tech.<\/p>\n
Over the past fifteen years, Lo has helped steer the Chinese company Tencent from an unlisted internet start-up into the world\u2019s biggest investment corporation, valued at over A$628 billion.<\/p>\n
\u201cHonestly, I never expected to be the CFO of a listed company!\u201d Lo says.<\/p>\n
The busy CFO spends at least one third of his time learning about industry trends and new products.<\/p>\n
\u201cThe internet market is changing so fast that your knowledge will become obsolete if you don\u2019t keep up,\u201d he explains.<\/p>\n
One of Tencent\u2019s most successful inventions to date is the all-purpose app WeChat, a household name among its one billion users. The app has been described as \u2018Facebook, Skype, Slack, Amazon, PayPal and Apple Wallet all rolled up into one\u2019.<\/p>\n
\u201cWe\u2019re really keen to provide people with one-stop shopping convenience,\u201d Lo says. \u201cThat\u2019s been a major key to our success.\u201d<\/p>\n
When asked about how he sees the internet evolving over the next ten years, Lo replies: \u201cI think everything will be linked up seamlessly, as opposed to now when everything is a single transaction.\u201d<\/p>\n
Lo credits the skills he has acquired throughout his studies and career to his success today.<\/p>\n
\u201cEver since graduating from Curtin twenty-five years ago, continuous learning has been my top priority,\u201d Lo says with enthusiasm. \u201cThanks to the excellent education offered by Curtin, I was equipped with ample knowledge and skills.\u201d<\/p>\n
Lo says he was inspired to study overseas at Curtin because of the university\u2019s international reputation and the affordable cost of living in Perth compared to the eastern states.<\/p>\n
\u201cPerth is also in the same time zone as Hong Kong, my home country, so it was more convenient to connect to family and friends back home,\u201d he explains.<\/p>\n
Lo believes studying abroad is hugely beneficial and says he really enjoyed his time at Curtin.<\/p>\n
\u201cI made a lot of friends and learned how to connect with people from many different backgrounds,\u201d he recalls.<\/p>\n
\u201cThe support for international students at Curtin was very robust. In addition, the English-language environment greatly improved my language skills, particularly my spoken English.\u201d<\/p>\n
After graduating from Curtin, Lo went on to obtain his CPA qualification in Australia before relocating to Hong Kong, and later mainland China. He was offered a position as an auditor at one of the world\u2019s largest accounting firms, PricewaterhouseCoopers [PwC] and quickly climbed the corporate ladder.<\/p>\n
\u201cPwC provided me with excellent professional training in finance and accounting and also gave me valuable exposure to different industries in China,\u201d Lo reflects.<\/p>\n
By 2004, Lo says he was restless and ready for a change. He opted to leave his secure, senior job for a finance role at a small Chinese internet company.<\/p>\n
\u201cI knew if I stayed at PwC, I had a good chance of making audit partner,\u201d he says.<\/p>\n
\u201cEveryone urged me to stay, including my parents. But I knew moving to Tencent was the right choice.\u201d<\/p>\n
In 2004, less than seven per cent of China\u2019s population were internet users. Tencent was not yet listed on the stock exchange and had fewer than 500 employees.<\/p>\n
Lo, however, foresaw huge growth ahead.<\/p>\n
\u201cIn the US at the time, internet penetration was more than 60 per cent,\u201d Lo says. \u201cWhen I looked at the internet industry in China, I was fascinated by the exciting growth opportunities ahead.\u201d<\/p>\n
His calculated decision paid off.<\/p>\n
Today, Tencent is one of the largest internet companies in the world and internet penetration in China has risen rapidly to 52 per cent.<\/p>\n
In November 2017, Tencent became the first Asian company to cross the US$500 billion valuation mark, becoming one of the world\u2019s top five biggest firms alongside Apple, Alphabet, Microsoft and Amazon.<\/p>\n
As Tencent\u2019s chief financial officer, Lo says it\u2019s critical to stay ahead of the game.<\/p>\n
\u201cI\u2019m not just a \u2018number crunching\u2019 guy\u201d, Lo says. \u201cIn my industry I think it\u2019s really important to keep abreast of business development and be agile and ready to react to anything that may emerge.\u201d<\/p>\n
Graduate snapshot<\/strong><\/p>\n John Lo is a Fellow of the CPA Australia, a Fellow of the Hong Kong Institute of Certified Public Accountants and a Fellow of the Chartered Institute of Management Accountants. In 2018, Lo is also the Vice Chairman of the CPA Australia South China Committee. Alongside his Bachelor of Business (Accounting) degree from Curtin University, Lo holds an executive MBA degree from the Kellogg-HKUST EMBA program.<\/p>\n","protected":false},"excerpt":{"rendered":" As chief financial officer for China\u2019s largest internet company, Curtin graduate John Lo is an expert in innovation and what it takes to succeed in the rapidly evolving world of tech.<\/p>\n","protected":false},"author":2670,"featured_media":6432,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_oasis_is_in_workflow":0,"_oasis_original":0,"_oasis_task_priority":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","wds_primary_category":0,"wds_primary_research-areas":0,"footnotes":""},"categories":[49],"tags":[261,262],"research-areas":[],"class_list":["post-6429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-innovation-and-law","tag-apps","tag-international"],"acf":{"post_options":{"":null,"additional_content":{"title":"See more at Curtin Open Day!","content":"