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Two business seminars are being held in Korea to highlight recent developments and business opportunities in Hong Kong that will boost bilateral relations.
The seminars, held in the city of Busan today (April 12) and in the Korean capital, Seoul, tomorrow (April 13), have been organised by the Hong Kong Economic and Trade Office of the Hong Kong Special Administrative Region Government.
At the Busan seminar, Principal Hong Kong Economic and Trade Representative, Mrs Jennie Chok, gave the participating government and business leaders an update on Hong Kong's economic performance.
"The Hong Kong economy staged a broad-based expansion in 2010 at a robust pace of 6.8%, having successfully overcome the severe challenges from the global recession of 2009. Activities stayed vibrant in January and February 2011.
"Bilateral trade between Hong Kong and Korea has also seen a strong rebound since 2009. It grew by 28% in 2010 over the previous year and amounted to over US$ 21.1 billion," she said.
Noting that the total number of overseas and Mainland companies setting up or expanding in Hong Kong has been continuously on the increase, Mrs Chok said this was a clear reflection of investors' confidence in Hong Kong as a business location with unique and enduring advantages.
These advantages include a free economy, the rule of law, a low and simple tax system and a business-friendly environment where all firms can compete on a level-playing field.
Mrs Chok also pointed out that given the city's close proximity to the Mainland, its connectivity and efficient transport system, Hong Kong was the perfect destination for accessing the vast Mainland market.
"Another area of opportunity lies in Hong Kong's role as an offshore Renminbi (RMB) Centre.
"Hong Kong is the only place outside Mainland China that hosts an RMB bond market. There was a significant expansion in the range of issuers of RMB bonds last year, with issues by Hong Kong and multinational companies and even the Asian Development Bank. Overseas companies are encouraged to issue RMB bonds in Hong Kong," she added.
Mrs Chok was joined by representatives of the Hong Kong Trade Development Council and Hong Kong Tourism Board at the seminar which was attended by over 130 people, including the President of Busan Economic Promotion Agency, Mr Cha Jae-joo.
Ends/Tuesday, April 12, 2011
Issued at HKT 15:31
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