HKETO Jakarta celebrates in Philippines 28th anniversary of HKSAR establishment (with photos)
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Addressing the dinner, Miss Cheng said that with the staunch support of the motherland and the advantages in connecting the Mainland and the world under the "one country, two systems" principle, Hong Kong has continued to consolidate its status as an international financial, shipping and trade centre. Hong Kong has performed remarkably in international rankings. It was named the world's freest economy in the Economic Freedom of the World 2024 Annual Report, and ranked third globally in the World Competitiveness Yearbook 2025, the World Investment Report 2025 and the Global Financial Centres Index. Hong Kong's success in attracting top-tier international companies and talent is also widely acknowledged. The number of companies in Hong Kong with overseas or Mainland parent companies has risen to 9 960, while the number of start-ups in the city increased to around 4 700, both reaching record highs.
Miss Cheng added that Hong Kong has a close relationship with the Philippines. Hong Kong is the Philippines' fifth largest trading partner, with bilateral trade in goods amounting to US$13.9 billion last year. In tourism, Hong Kong has continued to attract Filipino visitors, welcoming around 1.2 million arrivals from the Philippines last year, representing a 55 per cent increase compared with 2023. In the first five months of this year alone, more than 550 000 Filipino visitors travelled to Hong Kong, marking a 27 per cent year-on-year increase and reflecting strong people-to-people ties between the two places.
Miss Cheng also shared the latest developments in Hong Kong with the guests, highlighting the emerging opportunities under the Guangdong-Hong Kong-Macao Greater Bay Area as strategic responses to future challenges. She said that as a global financial and trade centre, Hong Kong is well positioned to serve as a vital bridge connecting Mainland China and the Philippines. She thanked the chamber for fostering connections, and hoped that more outstanding Philippine enterprises would expand their business networks in Hong Kong to create synergy. On the other hand, Hong Kong has been actively seeking early accession to the Regional Comprehensive Economic Partnership, with a view to making greater contributions to regional development.
Around 250 representatives from the local government and business sectors, including the Minister Counsellor of the Chinese Embassy in the Philippines, Ms Wang Yulei, and the Hong Kong Trade Development Council's Consultant in Manila, Ms Maribeth Barros, attended the event.
Ends/Saturday, July 5, 2025
Issued at HKT 22:15
Issued at HKT 22:15
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