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The Director of the Hong Kong Economic and Trade Office in Canada, Mr Bassanio So, today (October 24, Canada time) encouraged Canadian companies to use Hong Kong as their sourcing platform and to make use of its unique advantages.
Addressing a business workshop entitled "Hong Kong: Your Gateway to China" organised by the Canadian Association of Importers and Exporters (IE Canada), Mr So said: "Hong Kong has some of the best merchandising specialists in the world. They have solid knowledge of China's manufacturing environment as well as Western business practices and standards.
"Our sourcing expertise and professionals have made Hong Kong, Asia's world city, the world's 11th largest trading entity with total merchandise trade amounting to US$586 billion in 2005," he said, adding that Hong Kong is also home to many leading traders in the world ¡ª 16 of 17 Fortune 500 trading companies are present there.
Mr So pointed out that as the window to sourcing in Mainland China, Hong Kong handles about 19% of China's imports and 22% of its exports, and more than 75% of international buyers of consumer products source Chinese goods via Hong Kong. The city is also the largest investor in each and every province in Mainland China, accounting for 46% of China's total foreign direct investment.
In addition to being a regional business hub, Mr So said Hong Kong is also the eyes and ears for regional sourcing opportunities in the Greater China area and the Asia Pacific region "because it provides capital, management, world-class infrastructure, transport and communications, connections to the international business community and technology to foreign companies."
"Canadian companies should make use of our competitive edge as their sourcing platform. The trading community in Hong Kong offers unparalleled knowledge of and access to factories in the Mainland, which gives overseas firms direct access to some of the most experienced and reliable production facilities in the Pearl River Delta and across Mainland China," he said.
"As some of the foreign companies who sourced from Hong Kong rightly pointed out, Hong Kong offers high working efficiency, latest market information and extensive links to all major business destinations. Our proximity to the Mainland China, and an ever increasing, and sophisticated supply base, give the Asia's world city another distinctive edge," Mr So added.
Hong Kong's gateway role as the preferred sourcing platform for foreign companies is further enhanced by its supporting infrastructure, which includes logistics and transportation, financial services, insurance services, communication infrastructure and its common law legal system.
Also speaking at today's session was the Director of the Hong Kong Trade Development Council (HKTDC) in Canada, Mr Andrew Yui. The topic of his presentation was "TDC's Services ¡ª Your Sourcing and Marketing Platform".
Ends/Wednesday, October 25, 2006
Issued at HKT 10:37
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