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The Hong Kong Economic and Trade Office (HKETO), Berlin held the first Chinese New Year reception on February 2 (Prague time) in Prague, the Czech Republic, marking the start of 11 receptions in central Europe to celebrate the Chinese New Year 2011 - the Year of the Rabbit.
In his welcome speech, Director of HKETO, Berlin, Mr Stephen Wong, greeted the guests with the success of Hong Kong, "I am pleased to report that at the end of 2010, Hong Kong's economy was back to a robust growth trajectory. It was forecast that economic growth could reach 6.5% in 2010."
Mr Wong also briefed the guests Hong Kong's achievements in the past year, for instance, as the world's freest economy for the 17th consecutive year, ranking first on the Globalisation Index 2010, and achieving the second place in the World Bank and International Finance Corporation's Ease of Doing Business Study.
Mr Wong further explained Hong Kong's role as a hub for raising capital. He said, "The number of Mainland enterprises that came to Hong Kong to raise capital and establish regional headquarters has increased steadily. Until the end of last year, almost 600 Mainland enterprises have been listed in Hong Kong, raising approximately EUR 300 billion. In addition, we have just completed the world's second largest initial public offering (IPO) for the insurance company AIA in October 2010, and this followed the world's largest IPO for Agricultural Bank of China last summer."
"As China's global financial centre, Hong Kong will increase its contribution in promoting the modernisation of the Mainland's financial system, particularly the internationalisation of the Renminbi and the increased convertibility of the Mainland's capital account," Mr Wong continued.
On the promising future of bilateral economic relationship between Hong Kong and the Czech Republic, Mr Wong said that bilateral trade between Hong Kong and the Czech Republic grew at about 2.9% annually between 2006 and 2010 and amounted to about EUR 633 million in 2010.
"In addition to promoting trade in goods, the Hong Kong Special Administrative Region (HKSAR) Government also worked on the trade in services which accounted for more than 90% of Hong Kong's Gross Domestic Product (GDP). We are very much privileged to help set up a platform where the legal professions of the Czech Republic and Hong Kong could exchange information and work to co-operate in their professional fields. Following the signing of the Memorandum of Understanding between the Czech Bar Association and the Law Society of Hong Kong in the presence of the Financial Secretary, Mr John C Tsang, back in May 2008, and the visit to Hong Kong by the Czech Bar Association in 2009, a delegation of the Law Society of Hong Kong reciprocated a visit to Prague on January 21, 2011 and also met with the Czech Deputy Minister of Justice, Dr František Korbel," Mr Wong added.
The reception had the privilege to have the presence of Mr Josef Cilek, Vice President of the Czech Chamber of Commerce and his wife. Chinese Ambassador in the Czech Republic, Mr Yu Qingtai, Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow, as well as senior diplomats, officials and leading figures in the business sector of the Czech Republic also attended the reception, including a performance by King's Harmonica Quintet from Hong Kong. About 120 guests graced the reception.
The harmonica performance was very warmly received by the Czech audience. The King's Harmonica Quintet was established in 1987 by five harmonica enthusiasts in Hong Kong who created a revolutionary form of harmonica performing art and won the champion title in the World Harmonica Championship in Germany. Another harmonica trio group the Veloz Trio, formed by three young talented musicians in Hong Kong, also gave a well-received performance.
The reception in Prague started a series of 11 Chinese New Year receptions in central Europe organised by HKETO, Berlin. This week and next Monday, similar receptions will be held in three other major cities namely, Munich (Germany), Ljubljana (Slovenia) and Bratislava (Slovak Republic). The harmonica groups will continue to perform in these cities. In addition, there will be Taijiquan performance in Ljubljana and Bratislava.
Ends/Friday, February 4, 2011
Issued at HKT 04:00
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