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The Financial Secretary, Mr John C Tsang, continued his trip to Brazil by visiting various enterprises in São Paulo today (December 8, São Paulo time). Mr Tsang is heading a high-level business delegation to seek out new business opportunities in South America's emerging economies.
Mr Tsang started the day at "Fibria", the world's largest pulp producer, and had a meeting with the company management.
Next on his schedule was the Companhia Siderˆyrgica Nacional (CSN), the second-largest steel producer in Brazil. CSN's senior management briefed Mr Tsang and the delegation on the company's operation and development prospects.
Later, at a luncheon with São Paulo business community hosted by HSBC, Mr Tsang called for closer financial links between Hong Kong and Brazil. He encouraged Brazilian firms to list in Hong Kong and take full advantage of Hong Kong as the premium offshore centre for Renminbi (RMB) business. He said that they could use RMB to settle their Mainland trade and build up their RMB portfolios.
In the afternoon, Mr Tsang and the delegation visited Banco Bradesco. Banco Bradesco is a large commercial bank in the private sector that has the most extensive service network in Brazil.
Mr Tsang's visit to Brazil ended on December 8. Tomorrow (December 9), Mr Tsang starts a two-day visit to New York.
Ends/Thursday, December 9, 2010
Issued at HKT 09:53
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