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HKETO Berlin promotes HK as premiere Renminbi offshore business centre and wealth management hub at European Forum for New Ideas (with photo)

     The Hong Kong Economic and Trade Office, Berlin (HKETO Berlin) participated at the European Forum for New Ideas (EFNI) in Sopot on September 26 (Berlin time) to promote Hong Kong as the premiere Renminbi offshore business centre and wealth management hub, offering unparallelled win-win prospects for Europe-China relations.

     The EFNI 2012 focused on Europe's political and economic role in the new multi-polar world and the state's role in the economy and civil society, as well as on innovation, the future of education, climate and corporate social responsibility.

     In the panel session titled "Europe and China: toward a win-win strategy", the Director of the HKETO Berlin, Mr Ivan Lee, shared his views on the main themes of the session, including China's 12th Five-Year Plan and Europe 2020, and new opportunities for co-operation and synergies.

     Noting the growing wealth of China and Hong Kong's position as China's global financial centre under the National 12th Five-Year Plan, Mr Lee shared his observation that there would be increasing demand for services relating to Renminbi trade settlement, financing and wealth management, as well as luxury goods and services. "In each of these aspects, Hong Kong has a unique role to play," Mr Lee said.

     Mr Lee went on to outline Hong Kong's development as China's Renminbi offshore business centre and a leading wealth management and private banking hub. "Hong Kong now handles over 90 per cent of China's Renminbi cross-border trade settlement. Some European companies have also taken advantage of our platform to issue Renminbi-denominated bonds in Hong Kong", he said.

     Noting the shifting economic gravity from the West to the East, Mr Lee added, "Hong Kong's private banking platform offers unparallelled access to the growing wealth pool in Mainland China and across Asia". Hong Kong is also becoming a very attractive market for luxury goods companies to showcase their products to increasingly affluent Chinese consumers, he said.

     Organised by the Polish Confederation of Private Employers Lewiatan in collaboration with BUSINESSEUROPE, the city of Sopot, as well as leading companies and institutions, the EFNI will last until September 28. Economists, entrepreneurs, and executives from all over the world will continue to discuss the emerging new global order and the role of Europe.

     During his visit to Poland, Mr Lee also met with the President of the Pomeranian Special Economic Zone (PSEZ), Ms Teresa Kaminska, to discuss the potential for further co-operation, and the opportunities that both Hong Kong as the gateway to China, and Poland as the gateway to Europe, have to offer to the business and scientific communities.

Ends/Thursday, September 27, 2012
Issued at HKT 21:40


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