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Hong Kong remained California's sixth largest export destination in 2013. About US$7.8 billion worth of goods were shipped from California to Hong Kong last year, with the products ranging from computers and electronics to wine and nuts, the Director of the Hong Kong Economic and Trade Office in San Francisco, Ms Subrina Chow, told guests at a spring reception in Los Angeles today (February 12, Los Angeles time).
Also speaking at the event, which was attended by more than 150 government officials and business leaders, the Hong Kong Commissioner for Economic and Trade Affairs, USA, Mr Clement Leung, said, "US exports to Hong Kong reached over US$42 billion, up 13 per cent from 2012."
Mr Leung said he is looking forward to broadening and deepening the trade ties between Hong Kong and the United States in his new role as Commissioner, a post he took up a week ago.
"Having just come from Hong Kong, I can testify that our city is still bustling. Our economy managed moderate growth and our real GDP growth for 2013 is forecast at 3 per cent. Our labour market remains in a state of full employment, with an unemployment rate of 3.2 per cent," Mr Leung said.
"'One Country, Two Systems' has proved to be a winning formula for Hong Kong. This framework enables us to fully capture the opportunities of the growth of Mainland China's economy while preserving our unique, distinct identity characterised by the rule of law, an independent judiciary and free markets.
"Serving as China's global financial centre, Hong Kong is at the forefront of the internationalisation of the Renminbi (RMB). We were the first offshore market and have the largest pool of RMB liquidity outside the Mainland of China. The further liberalisation of the RMB is one of the most exciting developments in international finance," he continued.
The reception in Los Angeles concluded a series of spring receptions hosted by the Hong Kong Economic and Trade Office in San Francisco in cities in the western part of the United States to celebrate the Chinese New Year.
Ends/Thursday, February 13, 2014
Issued at HKT 14:50
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