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Hong Kong is the Asia・s world city and gateway to China, Director, Hong Kong Economic and Trade Office (HKETO), Berlin, the Government of the Hong Kong Special Administrative Region (HKSAR), Mr Stephen Kai-yi Wong, enunciated at a business seminar in Hamburg today (July 13, German time). It was the first seminar promoting the interest and image of the HKSAR conducted by the HKETO, Berlin in Germany.
：The fundamentals of HKSAR are the ．One Country, Two Systems・ principle and the freedoms guaranteed under the Basic Law, which underpin the many attributes of the HKSAR as Asia・s world city and gateway to China in the region. Under the Basic Law, for example, Hong Kong enjoys a high degree of autonomy (Articles 2 and 12); and has its own currency, own legal system, own independent judiciary (Article 156) and adopts both Chinese and English as its official languages (Article 9),； said Mr Wong when addressing about 200 participants including representatives from the business community and chambers of commerce; academia and the media in Hamburg.
：With the constitutional guarantee under the Basic Law, Hong Kong possesses numerous trade-facilitating attributes that make it an ideal place to do business including the low tax policy; visa-free access for visitors from more than 170 countries or regions; free flow of capital and information; and freedom of expression etc. It is a place where east meets west, and a dynamic city full of opportunities,； Mr Wong added.
In addition, Mr Wong also elaborated on how the legal services in Hong Kong can assist German companies in doing business in Hong Kong and in Mainland China via Hong Kong. ：Under the principle of ．One Country, Two Systems・, Hong Kong maintains an entirely different system of law from Mainland China. Hong Kong maintains its common law system, a system that German companies are familiar with. Hong Kong provides top legal support through a wealth of legal practitioners: 6,100 solicitors, 1,000 barristers and 1,200 registered foreign lawyers from 27 jurisdictions,； Mr Wong explained.
：After reunification with China in 1997, Hong Kong・s common law system is not only preserved but enriched by the Basic Law. For example, eminent judges from other common law jurisdictions may sit as one of the judges in Hong Kong・s Court of Final Appeal, the highest appellate court of Hong Kong,； he added.
Apart from conventional court proceedings, arbitration and mediation are becoming popular ways of dispute resolution. Hong Kong offers a long-standing expertise in international arbitration. The Hong Kong International Arbitration Centre ranked second in Asia in terms of number of international cases handled in 2008. Mr Wong said, ：In addition, the International Court of Arbitration of the International Chamber of Commerce opened its first branch Secretariat in Hong Kong in 2008. This signified a high confidence in Hong Kong・s position as the centre of dispute resolution. Furthermore, the HKSAR Government recently gazetted the Arbitration Bill which would make the law more user-friendly and bring it in line with international practice.；
In relation to playing the role as the gateway to China, Hong Kong also has a close legal and economic co-operation with the Mainland. ：Since 1999, Hong Kong has reached three agreements about dispute resolution mechanism with the Mainland, which provide for various types of judicial documents to be served; arbitral awards to be enforced and money judgements by courts to be enforced in Hong Kong and Mainland China reciprocally,； Mr Wong explained.
On economic cooperation, Hong Kong signed a free-trade pact between Mainland China and Hong Kong, known as the Closer Economic Partnership Arrangement (CEPA), in June 2003. CEPA offers favourable trading and investment conditions to both local and foreign owned Hong Kong based companies engaging in export, trading and investment activities. ：CEPA is nationality neutral and therefore German companies may also benefit from it,； added Mr Wong.
In order to strengthen the bilateral economic and trade relations and provide better assistance to companies in central and eastern Europe, the Government of the HKSAR has set up a new HKETO in Berlin since March 9, 2009. HKETO, Berlin is the first government representative office set up overseas after the reunification in 1997. It covers eight countries in the region, namely Germany, Austria, the Czech Republic, Hungary, Poland, the Slovak Republic, Slovenia and Switzerland. HKETO, Berlin provides information, support and practical assistance to any person and company interested in Hong Kong, often in cooperation with the Hong Kong Tourism Board and Hong Kong Trade Development Council.
During the question and answer session, Mr Wong gave an update on the latest developments of Hong Kong, including the impact of the global economic downturn and the related stimulus measures taken by the HKSAR Government; the development of the six economic areas (namely medical services, educational services, testing and certification, innovation and technology, cultural and creative industries and environmental industries) as recommended by the Task Force on Economic Challenges chaired by the Chief Executive of the HKSAR; the Renminbi trade settlement pilot scheme; the ten major infrastructure projects; and Hong Kong・s role as the leading financial centre.
Ends/Tuesday, July 14, 2009
Issued at HKT 01:12
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