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Hong Kong's Principal Economic and Trade Representative in Tokyo, Miss Cheung Man-yee, calls on Japanese businessmen to make use of Hong Kong's advantages to expand into the Chinese market.

Speaking at business seminars at Kyushu region earlier this week, Miss Cheung outlined the economic interdependence between Hong Kong and China and the vital role Hong Kong played as a springboard for international companies wanting to establish a foothold in China.

"Already the Mainland's trade with Hong Kong represents about 40 per cent of our total external trade; we handle some 40 per cent of China's re-exports; and we are the largest source of foreign direct investment which reached US$156 billion by the end of last year. That is nearly 52 per cent of the Mainland's total inward investment.

"Hong Kong companies employ some five million people in wholly or partly owned ventures in neighbouring Guangdong Province and there are more than 1,800 Mainland companies operating in Hong Kong," she said.

Miss Cheung said: "There is a message here for companies in Japan wanting to crack the Chinese market: you will do no better than to find yourself a Hong Kong partner or facilitator.

"Our cultural, commercial and historical links with the Mainland and the knowledge and expertise our entrepreneurs have built up over decades of trading and doing business with China give Hong Kong an unrivalled advantage."

With China's entry to the World Trade Organisation (WTO), she said, this in-built advantage would be enhanced rather than diminished.

She said that with China's entry to WTO, there were forecasts that within six years China's foreign trade and foreign investment would double and its GDP was estimated to be 13 per cent higher by 2010.

"These figures point to enormous opportunities for Hong Kong and the entire trading world," she said.

Miss Cheung today (August 31) ended a four-day duty visit to Kyushu, covering the Kumamoto and Kagoshima Prefectures.

In addition to briefing the Japanese businessmen and company executives at business seminars, Miss Cheung also updated the local tourism circles on the latest situations of Hong Kong.

Miss Cheung also called on the Governor of Kumamoto, Ms Yoshiko Shiotani, and the Governor of Kagoshima, Mr Tatsuro Suga.

End/Thursday, August 31, 2000

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