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Strong ties between Hong Kong and Australia would continue to be boosted in the Year of the Ox, the Director of the Hong Kong Economic and Trade Office (HKETO), Ms Lorna Wong, said today (February 5).
Addressing more than 600 guests at a Chinese New Year reception in Sydney jointly organised by HKETO, the HK Trade Development Council, the HK Tourism Board and the HK-Australia Business Association (New South Wales Chapter), Ms Wong previewed a busy year ahead for the Hong Kong Special Administrative Region Government as it continued to work towards closer trade ties in 2009.
Ms Wong said two significant milestones included:
* A 10 percent rise in bilateral trade between Hong Kong and Australia in the first 11 months of 2008 over the same period in 2007; and
* A 22 percent increase in the number of visitors to Hong Kong from Australia over the past three years.
In addition, Hong Kong is ranked the fifth largest foreign investor in Australia, with more than A$41 billion invested in a range of sectors including banking, energy, infrastructure and telecommunications, while there are more than 1,700 Australian businesses registered in Hong Kong.
Ms Wong said Hong Kong remained a strong trade partner for Australia despite the global financial crisis and had taken steps to bolster its economy against the current downturn.
"Last October, the Hong Kong Government announced the formation of a task force chaired personally by the Chief Executive," Ms Wong said. "Since then a comprehensive package of measures has been introduced."
The package includes:
* A 100 percent guarantee for bank deposits and the injection of liquidity into the local banking system;
* A special loan guarantee scheme helping small and medium enterprises secure credit from banks; and
* Increasing government investment in public infrastructure projects to more than HK$29 billion (A$6 billion) in 2009, leading to the creation of 45,000 jobs.
Ms Wong said it was pleasing to see that Hong Kong topped the Heritage Foundation's 2009 index of the world's freest economies, a position it has held for the past 15 years, with Australia one of the few other Asia Pacific nations to rank in the top 10.
She said 2009 would see a packed schedule of events across Australia to promote Hong Kong. These include a Hong Kong Week in Perth; showcasing the work of Hong Kong fashion designers at Sydney's "Fashion Exposed" event; special activities to promote Hong Kong's Shopping Festival and sponsorship of the Hong Kong Cup event as part of Golden Slipper Day - one of the biggest events on Australia's racing calendar.
Today's reception marked the beginning of a series of Chinese New year celebratory activities in Australia organised by HKETO. Similar receptions will also be held in other major cities, Brisbane, Melbourne, Perth, Adelaide and Canberra.
Ends/Thursday, February 5, 2009
Issued at HKT 19:31
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