Toronto

By Hong Kong Economic Trade Office (HKETO)

Hong Kong's powerful business and financial edge as reinforced by its unique role as a "super-connector" between Mainland China and the rest of the world was once again promoted by Invest Hong Kong (InvestHK) and the Hong Kong Economic and Trade Office (Toronto) (HKETO) at a seminar held in Toronto today (October 8, Toronto time).

Speaking at the seminar "Hong Kong: The Super-Connector", which was held by the Toronto Region Board of Trade and supported by the HKETO and the Hong Kong-Canada Business Association, the Director-General of Investment Promotion, Dr Simon Galpin, told participants that the "one Country, two Systems" principle guarantees Hong Kong's competitive edges in the international business community.

The seminar was told that the principle ensures Hong Kong's business-friendly environment, free flows of capital and information, a sound and independent legal system and a low and stable tax regime. Against this backdrop, it serves as a perfect platform for Canadian companies to enter into the Mainland and other Asian markets.

According to the United Nations Conference on Trade and Development World Investment Report 2015, Hong Kong registered foreign direct investment inflows of US$103 billion in 2014, a year-on-year increase of 39 per cent. The figure puts Hong Kong second only to Mainland China (US$129 billion) and ahead of the United States (US$92 billion), the United Kingdom (US$72 billion) and Singapore (US$68 billion).

Dr Galpin said that the numbers highlight Hong Kong's role as a "super-connector" and a conduit for direct investment.

Currently around 7 600 overseas and Mainland Chinese companies keep offices in Hong Kong, including some 100 Canadian companies. In the first half of 2015, InvestHK assisted a record 260 companies from 32 economies to set up and expand in Hong Kong, and Canada made it into the top 10 list of originating economies.

"Hong Kong is not only a magnet for multinationals and individual founders and entrepreneurs, it is also an ideal location for corporate treasury centres," added Dr Galpin.
 
He told the seminar that with a highly international outlook and positioning in terms of finance, legal services, accounting, trade, logistics, shipping and aviation, Mainland companies will continue to use Hong Kong to "go global", while overseas companies will also use the city to manage their global activities.

"There have been new trends developing in Hong Kong, such as the fast-growing startup ecosystem," said Dr Galpin. He told the participants that Canadian companies are most welcome to come to Hong Kong and commercialise their new technologies for other markets.

Statistics shows that in August this year, a total of 1,558 start-ups at 40 co-work spaces were registered in Hong Kong, up 46 per cent compared to a similar poll last year.

Also speaking at the seminar, HKETO Director Miss Gloria Lo noted that Hong Kong-Canada bilateral trade reached nearly CAD$5.7 billion last year and there was 4.5 per cent increase year-on-year for the first seven months of this year.

"Hong Kong can be the launching pad for Canadian start-ups given its sound legal system, a level playing field, simple and low taxation and facilitating measures for business. The city can also provide an ideal platform for the commercialisation of new technologies to cater for the Mainland market and other Asian markets, as well as for intellectual property trading."

She added that there are strong social ties between Hong Kong and Canada, and encouraged more exchanges between the youths and students of the two places.

The President of the Hong Kong University of Science and Technology (HKUST), Professor Tony Chan, was also a keynote speaker at the seminar. Established in 1991, HKUST has been ranked 28th globally (ranked first in Hong Kong) in 2015-16 and as Asia's top university for three out the last five years in the Quacquarelli Symonds World University Rankings.

Read more: http://www.info.gov.hk/gia/general/201510/09/P201510080571.htm

By Hong Kong Trade Development Council (HKTDC)

More than 1,500 business people from across Canada took part in the largest-ever international business conference held in Toronto. Organised by the Hong Kong Trade Development Council (HKTDC), "Think Asia, Think Hong Kong" helps companies from Canada, Hong Kong, and the Chinese mainland explore business opportunities using the Hong Kongplatform.

HKTDC-Canada Sign Commercial Arrangement
As part of the main symposium, the HKTDC signed an Arrangement on Mutual Cooperation with Foreign Affairs, Trade and Development Canada (DFATD) to facilitate collaboration in promotion of commercial activities in areas of mutual interest. The arrangement was signed by the Honourable Ed Fast, Minister of International Trade, Canada and Margaret Fong, Executive Director of the HKTDC.

Minister Fast said: "Canada and Hong Kong have a long-standing partnership, strengthened by our people-to-people ties. Hong Kongis an important hub for Canadian exports of goods and services to Asia, and this trade promotion arrangement will help our companies work together to take advantage of the rapid growth in the Asia-Pacific region."

Ms. Fong added, "We are pleased to conclude this arrangement with Foreign Affairs, Trade and Development Canada. Based on an already robust trade relationship between Canada and Hong Kong, this arrangement further promotes business opportunities in financial services, logistics, food, technology and intellectual property." 

Strong Connections
Guests of honour at the "Think Asia, Think Hong Kong" symposium were Minister Fast and Hong Kong SAR Chief Executive, C.Y. Leung.

Speaking at the symposium, Mr. Leung said Canada and Hong Kong are extended business partners. "I'm here today, leading a delegation of more than 100 high-profile business leaders and government officials, including 27 from the Mainland of China. We're here, because we believe that our strong and longstanding connections, in business and in culture, offer the promise of a far more rewarding future for our two economies and the companies that drive them," Mr. Leung said.

In his welcome remarks, HKTDC Chairman Vincent H.S. Lo highlighted the mainland's "One Belt, One Road" initiative and Hong Kong'scompetitive edge as a gateway to mainland and the region. 

"The Chinese mainland is committed to market-driven growth, and no-one knows the mainland markets better than we do in Hong Kong," Mr. Lo said.

"Our strategic position – not only as the gateway to mainland China but also as the global trade hub in Asia – also gives us a natural advantage as a springboard for international companies entering the Asian market."

Explore + Connect = Opportunities
More than 150 business leaders from Hong Kong and the mainland interacted with delegates and businesses from Canada. Networking activities were also arranged and free onsite consultation services were provided by Hong Kong professional service providers. In total, more than 860 business-matching sessions were organised to connect Canadian entrepreneurs with business partners from Hong Kong and the mainland.  

Videos:
Think Asia, Think Hong Kong: https://youtu.be/2BAoxSgqsZY

Download photos: http://filesharing.tdc.org.hk/hktdc/download.php?fid=_phpKXBpiy 

About the HKTDC

A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and services providers.

Read more: http://www.newswire.ca/news-releases/think-asia-think-hong-kong-toronto-attracts-1500-517908521.html