CE urges Canadian business to use Hong Kong as Asia base
(with photos)
********************************************************* The Chief Executive, Mr Donald Tsang, has today (October 24 Vancouver time) urged Canadian businesses to leverage Hong Kong's strengths in financial and professional services to enter the Asian market, especially China.
Mr Tsang said Canadian companies wishing to tap the 'awe-inspiring' potential of the Mainland's rapidly growing economy would find no better partner than Hong Kong.
He was speaking to more than 800 guests at the Hong Kong - Guangdong Business Forum in Vancouver, which was also attended by Canada's Federal Minister for Industry, Mr David Emerson, British Columbia's Premier, Mr Gordon Campbell, Guangdong Governor, Mr Huang Huahua, and China's Ambassador to Canada, Mr Lu Shumin.
Mr Tsang told the capacity audience at the Vancouver Convention center that Hong Kong and Guangdong were the leading players in the rapidly developing south China economy, which had a potential market of 460 million people.
"Hong Kong supplies capital; accounting, insurance, legal and trade services; expertise, connections and international experience," he said.
"Guangdong Province supplies land, infrastructure, manpower, entrepreneurial drive, ambition and spirit.
"Canadian companies bring their investments, innovations and marketing skills.
"We welcome overseas companies large and small. The Mainland is opening quickly, but making money in China is no piece of cake. Even multinationals have encountered unexpected problems when entering the Mainland market.
"Small and medium-sized enterprises that are looking for support will find what they need in Hong Kong. We invite you to join us as we enter a new era of opportunity in southern China."
During a Q&A session after his speech, Mr Tsang stressed the importance of Hong Kong's legal system and intellectual property rights protection regime to international investors, noting that Hong Kong had just this week become the first jurisdiction in the world to successfully prosecute the illegal distribution of copyright protected material on the Internet.
"This highlights the Hong Kong SAR's determination to deal with intellectual property rights infringements and to protect intellectual property rights to the highest possible standard," he said.
Earlier in the day, Mr Tsang held a breakfast meeting with Canada's Federal Minister of Industry, Mr David Emerson.
Among the topics discussed was Canada's recently launched Pacific Gateway Strategy, a C$590 million initiative to strengthen trade, investment and tourism links between Canada and Pacific economies, including Hong Kong and mainland China.
Speaking to reporters after the breakfast, Mr Emerson said the Canadian government was taking pro-active steps to improve and intensify links with Hong Kong and mainland China and to boost the efficiency and competitiveness of Canadian business in the region and 'take it to a whole new level'.
He said the Closer Economic Partnership Arrangement between Hong Kong and the Mainland provided opportunities for Canadian companies, especially small and medium-sized enterprises, to service the China market via Hong Kong.
Mr Tsang said he had a very good exchange with Mr Emerson, discussing ways to improve bilateral flows of people, goods and capital through such areas as enhanced air services as well as double taxation and investment promotion agreements.
Mr Tsang leaves Vancouver this (October 24, Vancouver time) afternoon for New York, where he starts the US-leg of his seven-day North America visit.
In New York tomorrow, Mr Tsang will meet with the Federal Reserve Bank of New York and deliver a keynote speech at a business lunch attended by about 350 people.
In the afternoon, he will meet former US President Bill Clinton, before flying to Washington for a three-day visit to the US capital.
(with photos)
********************************************************* The Chief Executive, Mr Donald Tsang, has today (October 24 Vancouver time) urged Canadian businesses to leverage Hong Kong's strengths in financial and professional services to enter the Asian market, especially China.
Mr Tsang said Canadian companies wishing to tap the 'awe-inspiring' potential of the Mainland's rapidly growing economy would find no better partner than Hong Kong.
He was speaking to more than 800 guests at the Hong Kong - Guangdong Business Forum in Vancouver, which was also attended by Canada's Federal Minister for Industry, Mr David Emerson, British Columbia's Premier, Mr Gordon Campbell, Guangdong Governor, Mr Huang Huahua, and China's Ambassador to Canada, Mr Lu Shumin.
Mr Tsang told the capacity audience at the Vancouver Convention center that Hong Kong and Guangdong were the leading players in the rapidly developing south China economy, which had a potential market of 460 million people.
"Hong Kong supplies capital; accounting, insurance, legal and trade services; expertise, connections and international experience," he said.
"Guangdong Province supplies land, infrastructure, manpower, entrepreneurial drive, ambition and spirit.
"Canadian companies bring their investments, innovations and marketing skills.
"We welcome overseas companies large and small. The Mainland is opening quickly, but making money in China is no piece of cake. Even multinationals have encountered unexpected problems when entering the Mainland market.
"Small and medium-sized enterprises that are looking for support will find what they need in Hong Kong. We invite you to join us as we enter a new era of opportunity in southern China."
During a Q&A session after his speech, Mr Tsang stressed the importance of Hong Kong's legal system and intellectual property rights protection regime to international investors, noting that Hong Kong had just this week become the first jurisdiction in the world to successfully prosecute the illegal distribution of copyright protected material on the Internet.
"This highlights the Hong Kong SAR's determination to deal with intellectual property rights infringements and to protect intellectual property rights to the highest possible standard," he said.
Earlier in the day, Mr Tsang held a breakfast meeting with Canada's Federal Minister of Industry, Mr David Emerson.
Among the topics discussed was Canada's recently launched Pacific Gateway Strategy, a C$590 million initiative to strengthen trade, investment and tourism links between Canada and Pacific economies, including Hong Kong and mainland China.
Speaking to reporters after the breakfast, Mr Emerson said the Canadian government was taking pro-active steps to improve and intensify links with Hong Kong and mainland China and to boost the efficiency and competitiveness of Canadian business in the region and 'take it to a whole new level'.
He said the Closer Economic Partnership Arrangement between Hong Kong and the Mainland provided opportunities for Canadian companies, especially small and medium-sized enterprises, to service the China market via Hong Kong.
Mr Tsang said he had a very good exchange with Mr Emerson, discussing ways to improve bilateral flows of people, goods and capital through such areas as enhanced air services as well as double taxation and investment promotion agreements.
Mr Tsang leaves Vancouver this (October 24, Vancouver time) afternoon for New York, where he starts the US-leg of his seven-day North America visit.
In New York tomorrow, Mr Tsang will meet with the Federal Reserve Bank of New York and deliver a keynote speech at a business lunch attended by about 350 people.
In the afternoon, he will meet former US President Bill Clinton, before flying to Washington for a three-day visit to the US capital.
Ends/Tuesday, October 25, 2005
Issued at HKT 03:53
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