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Hong Kong is the gateway to not just Mainland China, but also other parts of Asia, according to Miss Gloria Lo, Director of the Hong Kong Economic and Trade Office (HKETO) in Toronto.
Speaking yesterday (March 20, Edmonton time) at the 2013 Investment Pitch Competition (iPic) in Edmonton, Canada, Miss Lo said that the Association of South East Asian Nations (ASEAN) is currently the second largest trading partner of Hong Kong. Those who make the move to expand and diversify their business into the China-ASEAN market should consider Hong Kong.
iPic is an annual event organised by the Hong Kong-Canada Business Association (HKCBA) (Edmonton Section) and sponsored by HKETO. "We see more and more interests in the Asia markets among the local business community and from the young generation. HKETO therefore fully supports the idea of providing a platform for the university students to showcase their brilliant business ideas through iPic," said Miss Lo.
The purpose of hosting iPic is to provide university students enrolled in business programmes with an opportunity to showcase their analytical and presentation skills. This year, five teams presented their business concepts that would involve trade between Canada and China via Hong Kong to the judge panel from the government and business sectors. The winning team is Prestige Apparel.
"Hong Kong and the Mainland are emerging as one of the most important trading partners for the growth and sustainability of the Canadian economy," she said. "Canadian entrepreneurs are encouraged to do business in Hong Kong or in other parts of Asia, in particular Mainland China, through Hong Kong."
"Hong Kong is an excellent place for business with sound legal system, an independent judiciary, simple tax regime with low tax rate, a clean and efficient government, as well as a level playing field for all businesses," said Miss Lo. "Hong Kong is regarded as the freest economy in the world."
Miss Lo further said that strategically located at the heart of Asia and with the support of robust infrastructure, Hong Kong is strongly connected with all parts of the world. "Hong Kong, as the premier Renminbi (RMB) offshore business centre, is holding the largest pool of liquidity in RMB outside Mainland China, and is handling close to 90 per cent of Mainland's total cross-border external trade settlement in RMB."
"We provide a great platform for financing in RMB with a wide range of RMB investment products in our financial market. With the continuous economic development of Hong Kong, we see the potential for more business in Hong Kong," she added.
These potential areas include financial services, shipping and logistics, innovation and technology, environmental industry, life science and medical devices, testing and certification services, cultural and creative industry, as well as intellectual property trading and professional services, in particular legal services.
Ends/Friday, March 22, 2013
Issued at HKT 05:51
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