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The Director of the Hong Kong Economic and Trade Office (HKETO) in Toronto, Miss Gloria Lo, today (December 15, Toronto time) spoke about Hong Kong's latest ranking as the world No. 1 in financial development at the annual Hong Kong Family Christmas reception in Toronto.
The reception was jointly hosted by the HKETO in Toronto, Toronto section of the Hong Kong-Canada Business Association, the Hong Kong Trade Development Council and the Hong Kong Tourism Board (Toronto Office) at Yorkville's Intercontinental Hotel. It was attended by 180 guests from the business and financial sectors and Hong Kong community, as well as media and government representatives, including member of parliament Mr Patrick Brown and Ontario Minister of Tourism, Culture and Sport, Mr Michael Chan.
Speaking at the reception, Miss Lo said the World Economic Forum had just released its Financial Development Report 2011, in which Hong Kong is ranked first among 60 economies in the world, overtaking the United States and United Kingdom.
The study acknowledges Hong Kong's strengths in financial access, business environment and banking financial services, and, in particular, its strong performance in IPO activity and insurance. "This is the first time ever for an Asian city to receive such an honour," she said.
Miss Lo also said that Hong Kong is full of opportunities for business and investment. "Both Hong Kong and Canada have managed to ride out of the global financial crisis fairly well," she said. "With the growing interests of Canadians in Asian markets and the mission of Hong Kong to go global together with Mainland enterprises under the National 12th Five-Year Plan, we see scope for further enhancing the economic and trade relations between Hong Kong and Canada."
Miss Lo also shared with guests the latest news that Mainland China and Hong Kong have signed a new deal under the Closer Economic Partnership Arrangement (CEPA) to further liberalise service sectors and strengthen co-operation between Hong Kong and the Mainland in areas of finance, tourism, innovation and technology.
She said, "With this Supplement VIII to CEPA, Hong Kong service suppliers will be able to enjoy preferential treatment in a total of 47 service sectors in the Mainland market. This also applies to foreign-owned service suppliers operating in Hong Kong.
"These two achievements are very pleasant Christmas gifts for Hong Kong and will certainly further boost our trade promotion efforts in the coming year," Miss Lo added.
Ends/Friday, December 16, 2011
Issued at HKT 11:51
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