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The Financial Secretary, Mr John C Tsang, today (December 8, South Africa time) started his visit to Cape Town together with a Hong Kong business delegation.
They began the day by visiting the Port of Cape Town, one of the busiest ports in South Africa, to gain a better understanding of local trade and logistics.
Mr Tsang and the delegation later went to a business luncheon attended by key financial and business institutions and hosted by HSBC. Mr Tsang outlined Hong Kong's strengths as both an international business hub and as China's global financial centre. He also told the financial and business community that Renminbi business has been gathering momentum in Hong Kong, in particular the use of Renminbi for settling trade.
"South African firms can reduce exchange rate risks and costs and become more attractive to Mainland buyers and suppliers by settling their trade in Renminbi," he added.
Mr Tsang also described good opportunities for South African firms to use Hong Kong as a capital-raising centre and encouraged them to list on the Hong Kong Stock Exchange.
In the evening, Mr Tsang and the delegation will attend a networking dinner hosted by the Western Cape Investment and Trade Promotion Agency.
Ends/Thursday, December 8, 2011
Issued at HKT 20:16
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