Use Hong Kong as your Asian base, CE tells New York audience
(with photos)
************************************************************ The Chief Executive, Mr Donald Tsang, has today (October 25 New York time) urged American business and finance chiefs to use Hong Kong as their Asian base.
During a busy day in New York, Mr Tsang stressed the sophistication of Hong Kong's financial and business services and the ease in which international companies, big and small, can do business via Hong Kong for both the Asian and China markets.
"Hong Kong has become a supercharged turbine for international finance, commerce and trade," Mr Tsang told 350 luncheon guests at New York's famous Waldorf Astoria Hotel on the first day of his US visit.
"Today Hong Kong clearly emerges as the services hub for business in Asia. All kinds of businesses, from entrepreneurs making the most of our lifestyle and world-class infrastructure, to multi-national corporations serving the region concentrate in Hong Kong.
"There are now nearly 3,800 overseas companies with regional operations in Hong Kong, which is a record high, and American firms are the largest group among them, with 868.
"Since 1997, the number of overseas companies with regional operations has grown by over 50%, confirming Hong Kong as the most popular place in Asia to establish a base.
"These companies recognise Hong Kong's value as the best platform for doing business, not only in the Mainland, but in the Asia-Pacific region as a whole."
Mr Tsang also highlighted Hong Kong's role as the principal services hub for Chinese companies looking to expand their customer base on the world stage.
He said Mainland enterprises had raised over US$120 billion on the Hong Kong stock exchange, and were increasingly using Hong Kong and its international know-how to venture into global markets.
During a meeting with the Federal Reserve Bank of New York, the Chief Executive briefed a distinguished group of US bankers and financiers on the latest developments in Hong Kong, in particular the financial front, including bond market development, renminbi business, the revaluation of the renminbi and the expansion of renminbi business for Hong Kong banks.
Mr Tsang outlined plans to further enhance links between Hong Kong and the Pearl River Delta, and explained the huge market potential of the Pan-PRD economic grouping.
In a very cordial meeting with former US President Bill Clinton, whose office is in New York, the Chief Executive discussed a range of issues including Hong Kong's economic development, political reform, and Sino-US relations.
Tonight (New York time), Mr Tsang arrives in Washington D.C. for a three-day visit to the US capital.
Tomorrow (October 26 New York time), the Chief Executive will meet US political leaders, attend a lunch hosted by the Business Roundtable and attend a reception hosted by the Hong Kong Economic and Trade Office (Washington).
(with photos)
************************************************************ The Chief Executive, Mr Donald Tsang, has today (October 25 New York time) urged American business and finance chiefs to use Hong Kong as their Asian base.
During a busy day in New York, Mr Tsang stressed the sophistication of Hong Kong's financial and business services and the ease in which international companies, big and small, can do business via Hong Kong for both the Asian and China markets.
"Hong Kong has become a supercharged turbine for international finance, commerce and trade," Mr Tsang told 350 luncheon guests at New York's famous Waldorf Astoria Hotel on the first day of his US visit.
"Today Hong Kong clearly emerges as the services hub for business in Asia. All kinds of businesses, from entrepreneurs making the most of our lifestyle and world-class infrastructure, to multi-national corporations serving the region concentrate in Hong Kong.
"There are now nearly 3,800 overseas companies with regional operations in Hong Kong, which is a record high, and American firms are the largest group among them, with 868.
"Since 1997, the number of overseas companies with regional operations has grown by over 50%, confirming Hong Kong as the most popular place in Asia to establish a base.
"These companies recognise Hong Kong's value as the best platform for doing business, not only in the Mainland, but in the Asia-Pacific region as a whole."
Mr Tsang also highlighted Hong Kong's role as the principal services hub for Chinese companies looking to expand their customer base on the world stage.
He said Mainland enterprises had raised over US$120 billion on the Hong Kong stock exchange, and were increasingly using Hong Kong and its international know-how to venture into global markets.
During a meeting with the Federal Reserve Bank of New York, the Chief Executive briefed a distinguished group of US bankers and financiers on the latest developments in Hong Kong, in particular the financial front, including bond market development, renminbi business, the revaluation of the renminbi and the expansion of renminbi business for Hong Kong banks.
Mr Tsang outlined plans to further enhance links between Hong Kong and the Pearl River Delta, and explained the huge market potential of the Pan-PRD economic grouping.
In a very cordial meeting with former US President Bill Clinton, whose office is in New York, the Chief Executive discussed a range of issues including Hong Kong's economic development, political reform, and Sino-US relations.
Tonight (New York time), Mr Tsang arrives in Washington D.C. for a three-day visit to the US capital.
Tomorrow (October 26 New York time), the Chief Executive will meet US political leaders, attend a lunch hosted by the Business Roundtable and attend a reception hosted by the Hong Kong Economic and Trade Office (Washington).
Ends/Wednesday, October 26, 2005
Issued at HKT 08:18
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