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The Hong Kong-Canada Business Association (HKCBA) (Toronto Section), supported by the Hong Kong Economic & Trade Office (HKETO), today (March 2, Mississauga time) presented a business workshop entitled "Hong Kong's growing economic integration with Mainland China: Your new business opportunities" in Mississauga, Canada.
Speaking to a capacity crowd of 100 people, Director of the Toronto HKETO, Miss Gloria Lo, encouraged the Canadian business people to make use of Hong Kong's advantages of its physical proximity to the Mainland, its rich experience in China trade, and its simple tax system, as well as the sound legal system to tap into the vast Mainland market.
"Hong Kong enjoys preferential treatment in entering the Mainland market through the Closer Economic Partnership Arrangement (CEPA)," she said. "CEPA allows tariff-free privileges for all products of Hong Kong origin to go into the Mainland. It also enables Hong Kong-based service providers to enjoy preferential treatment in 47 sectors."
Mainland China is now Hong Kong's largest trading partner and Hong Kong is the largest external investor of the Mainland, as well as the single largest source of capital for Mainland enterprises with more than 600 Mainland enterprises listed in Hong Kong. Apart from these, the rapid development of the Pearl River Delta (PRD) region, which is regarded as the fastest growing region in Mainland China, also brings in business potential.
"Opportunities are right on Hong Kong's doorstep," Miss Lo said. "On one hand, the PRD enterprises can benefit from Hong Kong in the provision of capital, management, technology, market knowledge and access to international markets," she said. "On the other hand, Hong Kong also serves as a place for foreign investment firms to access the strength of PRD region. Increasingly, Hong Kong has become not only a place where the rest of the world meets Mainland China, but also where the Mainland meets the rest of the world."
The workshop today also covered such topics as how to do business with China, how to maximize success, Hong Kong-Canada success stories and so on. Other speakers include President of HKCBA (Toronto Section), Mr Peter Lawler; Senior Trade Commissioner (Ontario Region) of the Foreign Affairs and International Trade Canada, Mr Jim Feir; Mayor of Mississauga, Ms Hazel McCallion and Director (Canada) of Hong Kong Trade Development Council, Mr Andrew Yui.
Ends/Saturday, March 3, 2012
Issued at HKT 09:22
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