************************************************************
US investors attending an investment promotion event in Washington DC, "Hong Kong and Shenzhen: Your Winning Formula in China", today (January 17, Washington DC time) were encouraged to invest in Hong Kong and Shenzhen. The seminar received an overwhelming response from the US business community. More than 170 senior executives from US companies attended.
The seminar was the seventh collaboration between Invest Hong Kong and Shenzhen Bureau of Trade and Industry (BTI) to promote advantages of investing in both places to overseas investors with interest in doing business in China. Similar overseas joint promotions were previously conducted in San Francisco, Chicago, Tokyo, Stockholm, Milan and Seoul.
The Hong Kong and Shenzhen delegations were led by the Director-General of Investment Promotion, Mr Mike Rowse, and the Deputy Director-General of Shenzhen BTI, Mr Wang Xiaochun. Mr Rowse and Mr Wang delivered keynote speeches at the seminar.
The seminar focused on updating investors on the latest business opportunities in the Greater Pearl River Delta for companies in the US, and how companies can make the best use of the unique advantages Hong Kong and Shenzhen offer.
The Economic Counselor of Embassy of People's Republic of China in the US, Mr Li Haiyan, and the Director of Hong Kong Economic and Trade Office in New York, Miss Monica Chen, delivered the welcoming remarks for the event.
The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, said, "The US has always been an important strategic partner for companies in Hong Kong. The US has the largest international business community in Hong Kong, with over 1,100 companies, including some 890 regional headquarters and offices. They are actively engaged in a variety of businesses, including financial services, IT, professional services, tourism and entertainment, transportation and logistics, retail and sourcing.
"The large number of US regional operations in Hong Kong and their continued expansion point to the city's appeal to companies as an excellent location to manage their businesses in China and the rest of Asia. We look forward to welcoming even more US companies to Hong Kong to take advantage of our city's many advantages."
The Deputy Director-General of Shenzhen BTI, Mr Wang Xiaochun, then talked about the attractions of Shenzhen for US firms. He said, "As one of the first Special Economic Zones established, Shenzhen serves as a window and testing field for China's reform and open policy. With its development in over 20 years, our city has achieved a leading position in many sectors in the Mainland. According to the latest figures released by the Statistics Bureau, Shenzhen is now the third most competitive city in China. The pillar industries of our city include high-tech, financial services, logistics and culture-related sectors.¡±
"At present, there are 1,070 investment projects by US companies in Shenzhen, involving an investment of US$2.58 billion. These companies are involved in a variety of business sectors, such as mechanical engineering, IT, bio-engineering, computer and software and chemical engineering. Shenzhen welcomes US investors to visit the city to explore various business opportunities."
Mr Scott Hallford, Senior Consultant, International Affairs of FedEx, also spoke at the seminar and shared the company¡¯s experience and successful strategies investing in both Hong Kong and Shenzhen. Ms Wendy Cai-Lee, Director, Chinese Services Group of Deloitte & Touche and Ms Xinyue Jasmine Geffner, Regional Head, Americas, China International Business Development of HSBC gave practical tips on setting up businesses in Hong Kong and Mainland China. The Director of Hong Kong Trade Development Council in New York, Mr Louis Ho, introduced the services available to assist US companies with their China business.
The full-day programme ended with a consultation session in the afternoon. Representatives from Invest Hong Kong and Shenzhen BTI answered questions from individual seminar participants interested to learn more about doing business in Hong Kong and the Greater Pearl River Delta.
Ends/Thursday, January 18, 2007
Issued at HKT 11:21
NNNN
