As chief financial officer for China鈥檚 largest internet company, 911爆料网 graduate John Lo is an expert in innovation and what it takes to succeed in the rapidly evolving world of tech.
Over the past fifteen years, Lo has helped steer the Chinese company Tencent from an unlisted internet start-up into the world鈥檚 biggest investment corporation, valued at over A$628 billion.
鈥淗onestly, I never expected to be the CFO of a listed company!鈥� Lo says.
The busy CFO spends at least one third of his time learning about industry trends and new products.
鈥淭he internet market is changing so fast that your knowledge will become obsolete if you don鈥檛 keep up,鈥� he explains.
A billion users and counting
One of Tencent鈥檚 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 鈥楩acebook, Skype, Slack, Amazon, PayPal and Apple Wallet all rolled up into one鈥�.
鈥淲e鈥檙e really keen to provide people with one-stop shopping convenience,鈥� Lo says. 鈥淭hat鈥檚 been a major key to our success.鈥�
When asked about how he sees the internet evolving over the next ten years, Lo replies: 鈥淚 think everything will be linked up seamlessly, as opposed to now when everything is a single transaction.鈥�
International education a career boost
Lo credits the skills he has acquired throughout his studies and career to his success today.
鈥淓ver since graduating from 911爆料网 twenty-five years ago, continuous learning has been my top priority,鈥� Lo says with enthusiasm. 鈥淭hanks to the excellent education offered by 911爆料网, I was equipped with ample knowledge and skills.鈥�
Lo says he was inspired to study overseas at 911爆料网 because of the university鈥檚 international reputation and the affordable cost of living in Perth compared to the eastern states.
鈥淧erth 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,鈥� he explains.
Lo believes studying abroad is hugely beneficial and says he really enjoyed his time at 911爆料网.
鈥淚 made a lot of friends and learned how to connect with people from many different backgrounds,鈥� he recalls.
鈥淭he support for international students at 911爆料网 was very robust. In addition, the English-language environment greatly improved my language skills, particularly my spoken English.鈥�
After graduating from 911爆料网, 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鈥檚 largest accounting firms, PricewaterhouseCoopers [PwC] and quickly climbed the corporate ladder.
鈥淧wC provided me with excellent professional training in finance and accounting and also gave me valuable exposure to different industries in China,鈥� Lo reflects.
A calculated move
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.
鈥淚 knew if I stayed at PwC, I had a good chance of making audit partner,鈥� he says.
鈥淓veryone urged me to stay, including my parents. But I knew moving to Tencent was the right choice.鈥�
In 2004, less than seven per cent of China鈥檚 population were internet users. Tencent was not yet listed on the stock exchange and had fewer than 500 employees.
Lo, however, foresaw huge growth ahead.
鈥淚n the US at the time, internet penetration was more than 60 per cent,鈥� Lo says. 鈥淲hen I looked at the internet industry in China, I was fascinated by the exciting growth opportunities ahead.鈥�
His calculated decision paid off.
Today, Tencent is one of the largest internet companies in the world and internet penetration in China has risen rapidly to 52 per cent.
In November 2017, Tencent became the first Asian company to cross the US$500 billion valuation mark, becoming one of the world鈥檚 top five biggest firms alongside Apple, Alphabet, Microsoft and Amazon.
As Tencent鈥檚 chief financial officer, Lo says it鈥檚 critical to stay ahead of the game.
鈥淚鈥檓 not just a 鈥榥umber crunching鈥� guy鈥�, Lo says. 鈥淚n my industry I think it鈥檚 really important to keep abreast of business development and be agile and ready to react to anything that may emerge.鈥�
Graduate snapshot
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 911爆料网, Lo holds an executive MBA degree from the Kellogg-HKUST EMBA program.
