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US investors attending an investment promotion event in Dallas, Texas, "Hong Kong and Huizhou: Your Winning Formula in China", today (April 19, Texas time) were encouraged to invest in Hong Kong and Huizhou. The seminar received an overwhelming response from the US business community. More than 200 senior executives from US companies joined some 40 high-level government officials and business executives from Hong Kong and Huizhou.
The seminar was the first collaboration between Invest Hong Kong of the Hong Kong Special Administrative Region Government (HKSAR Government) and the Huizhou Municipality of the People's Republic of China to promote the combined advantages of the two cities to Texas investors. The seminar focused on updating potential investors on opportunities in Hong Kong and Huizhou, and on Hong Kong's role in assisting companies wishing to develop new business in Mainland China.
The Hong Kong and Huizhou delegations were led by the Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, and the Executive Vice Mayor of Huizhou Municipality, Mr Huang Shifang.
Mr Mike Rowse said, "The US has always been an important strategic partner for companies in Hong Kong. The US has one of the largest international business communities in Hong Kong, with over 1,000 companies actively engaged in a wide range of businesses, including financial services, IT, professional services, tourism and entertainment, transportation and logistics, retail and sourcing."
"China offers very attractive markets with huge investment potentials. Huizhou is one of these markets which has become an attractive area for both Chinese and foreign investments in recent years. It is critical to find a right entry point into the Mainland market to optimise the chance of business success. Hong Kong serves a perfect strategic hub for investors to expand and manage their businesses in Huizhou and the rest of China."
Executive Vice Mayor Huang of Huizhou introduced the attractions of Huizhou to US firms. He said, "Huizhou, portal to eastern Guangdong, is a city largely depending on an export oriented economy. With 20 years of fast development, Huizhou has advantages over other cities in Pearl River Delta in many aspects. Up to 2006, 171 American enterprises have been established in Huizhou with an investment of over US$360 million. These enterprises are involved in a variety of business sectors, such as mechanical electronics, catering, food, eco-tourism and textiles. Huizhou welcomes more American investors to visit, investigate, and invest in the city."
According to the latest report on Top 20 Most Attractive Chinese Cities in Investment Condition released by Chinese Academy of Social Sciences, Huizhou ranked No. 17 in the eyes of multinationals. As is published in Competitiveness of Chinese Cities in Year 2007 Blue Book, Huizhou took the 4th place in "Cultural Competitiveness" and the 8th place in "Enterprise Managerial Competitiveness".
The one-day programme included a business seminar and individual meetings. In the seminar, Mr Kent Balius, Vice President, Front End Engineering of Merix, shared his experience and successful strategies in operating in Hong Kong and Huizhou. Mr W Anthony Stewart, Partner, Jones Day Dallas & Chair, China Task Force, Greater Dallas Chamber talked about doing business in Hong Kong and Mainland China from a legal perspective. Mr Peter Guang Chen, Partner of Deloitte Tax LLP, introduced accounting and tax handling issues in Hong Kong and Mainland China. Mr Stephen Wong, Regional Director, Americas of Hong Kong Trade Development Council, talked about the service available to assist US companies with their China business.
Ends/Friday, April 20, 2007
Issued at HKT 11:40
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