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In the third joint promotion of its kind, Hong Kong and Fujian Province held a seminar in Toronto, Canada today (April 23, Toronto time) highlighting business opportunities in the Pan-Pearl River Delta region of southern China.
Demonstrating the high level of interest in the region, more than 450 senior business executives attended the event - "A Winning China Strategy for Canada: Hong Kong and Fujian" - organised by Invest Hong Kong and the Fujian Provincial Department of Foreign Trade and Economic Cooperation (Fujian DOFTEC). The seminar was held to coincide the third annual national Hong Kong-Canada Business Forum organised by Hong Kong-Canada Business Association.
Senior government officials representing Canada, China and Hong Kong gave welcoming remarks at the seminar, including Parliamentary Secretary to the Minister of International Trade and Minister of International Cooperation, Mr Ted Menzies, Embassy of the People's Republic of China in Canada, His Excellency Ambassador Lu Shumin and the Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region, Mr Frederick Ma.
In his keynote address, Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse said, "Hong Kong is a natural entry point for Canadian companies to explore Asia, and a logical place from which to manage Asian-wide operations. More than 150 Canadian companies are already doing business in our city, and for almost a third of these it's their regional headquarters or offices."
"The Canadian community has long played an important role in Hong Kong's development. As well as investments of US$3.88 billion, there are strong family ties with more than a quarter of a million Canadian passport holders living in Hong Kong."
Mr Rowse explained that the growing strength of the Pan-Pearl River Delta region, with its population of 450 million and GDP equivalent to 40 percent of China's total, was bringing even greater opportunity to Hong Kong-based companies. "This enlarged market on our doorstep creates massive demand for world-class business and professional services, a sound and sophisticated financial system and strong international sales and marketing experience."
Deputy General-Director of Fujian DOFTEC, Mr Zhang Qiu,said, "Lying between two major economic regions - the Pearl River Delta and the Yangtze River Delta - Fujian is a high-flier among Chinese provinces. Our pillar industries include information technology, mechanical parts and oil and chemical engineering. At present, there are 273 investment projects by Canadian companies in Fujian, involving an investment of US$283 million. As the economy continues to grow in China, the business ties between Fujian and Canada will be closer."
A panel of experts including President and Co-CEO of Asia Pacific Foundation, Mr Yuen Pau Woo and President, Systems Business of Delcan Corporation, Mr Joseph Lam shared first hand experience on successful investment in the region. Mr Victor Yang, Founding Partner of Boughton Peterson Yang Anderson, Hong Kong, Mr Tom Niebuhr from Supply Chain Business, HSBC USA (New York) and Mr Marvin Hough, Regional Vice President, Asia, Export Development Canada (Ottawa) gave practical tips on doing business in Hong Kong and China from the legal and financial perspectives.
After the question session, a luncheon was held with Mr Frederick Ma as the keynote speaker highlighting the distinct advantages of Hong Kong as a gateway to access opportunities in mainland China.
In the afternoon, a one-on-one consultation session was held where representatives from Invest Hong Kong and Fujian DOFTEC answered questions from individual seminar participants.
Ends/Tuesday, April 24, 2007
Issued at HKT 15:33
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