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Economic and trade ties between HK and US staunchly supported in Windy City (with photos)
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     The Hong Kong Commissioner for Economic and Trade Affairs, USA, Mr Clement Leung highlighted business opportunities between Hong Kong and Illinois at the "Hong Kong Meets Chicago" reception held in Chicago on November 12.

     On his first official visit to Chicago, Mr Leung said the robust economic relationship between Hong Kong and the US, coupled with Hong Kong's strategic location and its unique advantage of being the premier two-way gateway for Mainland China, makes Hong Kong an ideal base for Illinois companies wishing to set up or expand operations.

     Hong Kong is the ninth largest export market for the US, importing US$43 billion worth of made-in-America goods. Hong Kong is also the third export market for US beef and the fourth market for high-value consumer ready-to-eat food products.

     Hong Kong is currently home to 60 000 Americans and 1 300 US firms. One-third of the Fortune 500 companies based in Illinois have an office in Hong Kong. They include Archer Daniels Midland, Boeing, Kraft Foods, Caterpillar and McDonald's. The Office of Trade and Investment under the Department of Commerce and Economic Opportunity in Illinois also has a regional office in Hong Kong.

     Noting the growing number of successful Mainland Chinese companies using Hong Kong as the base for their investment and operations overseas, the Commissioner underscored Hong Kong's "super-connector" role, citing the successful implementation of the "One Country, Two Systems" arrangement, and the high degree of autonomy that has preserved Hong Kong's unique strengths.

     Mr Leung said the imminent launch of the Shanghai-Hong Kong Stock Connect, would be a very significant step toward the opening of the Mainland's capital market and Hong Kong was very privileged to be able to play a significant role in the process.

     Mr Leung also updated the guests about the political debate, recent protests and economic impact in Hong Kong. He assured the audience that the macro-economic fundamentals remained stable and sound and Hong Kong remained a very safe place to visit. Moreover, the Government is keen to launch another round of public consultation soon to engage the community to discuss details of the electoral arrangements for 2017.

     Also speaking at the reception, the Director of Hong Kong Economic and Trade Office, New York (HKETONY), Mr Steve Barclay, highlighted the strong links between Hong Kong and Chicago, especially with direct flights. He hoped that with the many similarities shared by the two cities including strategic locations, major financial and business centres and enterprising people, the business and cultural ties could be closer in the years ahead. This also marks the first visit to Chicago by Mr Barclay since he assumed the post in August this year.

     The reception featured a string quartet performance by musicians from Hong Kong and Chicago. The violinist CheHo Lam, born and raised in Hong Kong, was the first violinist of the Eastman String Quartet performing at the 2013 US Presidential Inauguration Luncheon in Washington, DC. The other musicians were Aimee Biasiello (viola); Chris Ferrer (cello) and Amanda Bailey (violin). They were graduates from Eastman School of Music in New York, Royal College of Music in London, DePaul University and Chicago College of Performing Arts.

     The reception also featured a series of photos which captured the latest international trade fairs, and festive, sporting and cultural events in Hong Kong.

     About 150 guests from the business, banking, academic and cultural sectors attended the reception, which was co-organised by the HKETONY and the Hong Kong Trade Development Council.

     During their visit to Chicago on November 11 and 12, Mr Leung and Mr Barclay met with city government officials, as well as academic, business and community leaders. They included the Deputy Mayor of Chicago, Mr Steve Koch; the Vice President of Chicago Council on Global Affairs, Ms Niamh King; the Managing Director of Chicago Mercantile Exchange, Mr Joe Adamczyk; the Executive Director of Millennium Park, Mr Ed Uhlir; the Executive Vice President of Federal Reserve Bank of Chicago, Mr Daniel Sullivan; and the Dean of Booth School of Business of University of Chicago, Professor Sunil Kumar.

Ends/Thursday, November 13, 2014
Issued at HKT 23:59

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