Go to Home Page

Home PageAbout HKASCDirectorsMembershipEvent CalendarNewsletterUseful LinksMembershipEvent CalendarNewsletterUseful LinksMembership

(Click here to find out how to have your company information featured in this newsletter.)

Headlines in this issue
Updates on Hong Kong >>>
Members' News HKASC Messages

Hong Kong Networking Lunch series in Southern California (September - October 2009)


From left: HKTDC Assistant Business Matching Manager William Hung, HKTDC Marketing Manager Lawrence Chiu, HKASC Vice President Raymond Cheng, & Valley International Trade Association representatives Elyse Hookaylo-Rosenblatt and Darcy Winters

Along with the Los Angeles office of the Hong Kong Trade Development Council, and the local chambers of commerce and trade groups, HKASC has organized a series of private lunch events in Southern California covering the cities of Cerritos, Los Angeles, Ontario, San Diego, Sherman Oaks, and Torrance to introduce the "10th Hong Kong Forum" among the local business community.

The Hong Kong Forum to be held in Hong Kong from December 1 to 2, 2009, is a flagship event organized by the Federation of Hong Kong Business Associations Worldwide and Hong Kong Trade Development Council.

About 400 Hong Kong Association members are expected to attend the event for networking, experience sharing and business opportunities in Hong Kong and China.

(Full Story)


Business Luncheon on Hong Kong: Your Partner in Doing Business with China (Aug 28, 2009)


A luncheon on doing business with Hong Kong and China co-organized with the Hong Kong Trade Development Council held at the San Diego Marriott Hotel on Friday, August 28, 2009 drew over 300 business executives from the San Diego area.

China remains one of the world¡¦s most promising markets. Recent Chinese government measures to encourage domestic consumption, enhance infrastructure development and improve environmental standards bring with them opportunities for US companies.

With its state-of-the-art supply chain services, technological know-how, financial infrastructure and widely spoken English - Hong Kong is an ideal location for US companies to access world-class professional and financial services that will help grow their mainland Chinese businesses.

With Hong Kong's strong rule of law, it is also a proven risk manager for China, further enhancing its reputation as a global sourcing hub with excellent service infrastructure that upholds the values of good corporate governance and intellectual property protection.

2009 Hollywood Bowl Concert & Picnic (August 15, 2009)

Over 100 members and guests of the HKASC and HK Schools Alumni enjoyed a spectacular evening of Tchaikovsky music and fireworks at the Hollywood Bowl at the Hollywood Bowl on Saturday, August 15, 2009.

Before the performance was a picnic sponsored by C&L Restaurant, Phoenix Restaurant, Roxy Trading, HSBC Bank, and West Basin Municipal Water District.


7th Summer Mixer in Orange County (July 23, 2009)

The 7th Summer Mixer was held at the Hyatt Regency Irvine Hotel in Irvine on Thursday, July 23, 2009.

The event was jointly co-operated by the HKASC and the Irvine Chamber of Commerce, and sponsored by the HSBC Bank.

Other invited supporting organizations and tabletop display sponsors included: American Business Women Association, Asian Business Association of Orange County, Asian Business League of Southern California, Asian Pacific-USA Chamber of Commerce, Filipino American Chamber of Commerce of Orange County, German American Chamber of Commerce of Orange County, Hispanic Chamber of Commerce of Orange County, Japan America Society, Latino Business Conexion, National Association of Asian American Professionals - Orange County, National Latina Business Women Association of Orange County, Orange County Chinese American Chamber of Commerce, Orange County Korean American Coalition, Organization of Chinese American Entrepreneurs/Advisory Network, Organization of Chinese Americans - Orange County, Singapore American Business Association of Southern California, South Asian Biz Alliance Network, and Vietnamese-American Chamber of Commerce.

¡§Tips and Traps for California Employers¡¨ June 25, 2009

From left: Adam Beyda (Margolis & Tisman), Dennis Lee (HKASC Vice President), Mike Margolis (Margolis & Tisman), Cathy Beyda (Margolis & Tisman), Brian Gregson (HSBC Bank)

On June 25, a team of Margolis & Tisman labor law experts including Mike Margolis, Cathy Beyda and Adam Schorr delivered an update of the 2009 California Employment Law to over 50 HKASC members at the Alhambra branch of the HSBC Bank.

This event was the first of the series of business information programs organized based on the results of a survey conducted among HKASC members earlier in 2009.


U. S. Regional Caucus Meeting in Philadelphia, May 15-17, 2009

The 2009 U.S. Regional Caucus Meeting was held in Philadelphia from May 15-17, 2009. Representing the HKASC, Vice President Dennis Lee attended the meeting along with leaders of other Hong Kong Associations in the U.S.A.

Click here for full story or to view more photos.

Photo caption: From left, Daniel Chen (President, Hong Kong Association of Northern Texas), Dennis Lee (Vice President, Hong Kong Association of Southern California), James Haring (Board Member, Hong Kong Business Association of the Midwest), Barinna Poon (President, Hong Kong Business Association of Hawaii), Eugene Hanratty III (Executive Director, Hong Kong Association of Atlanta), Donald Tong (Hong Kong Commissioner for Economic & Trade Affairs, USA), Benjamin Lee (President, Hong Kong Association of Washington), Susanna Kwan (Executive Director, Hong Kong Association of Northern California), Kenneth Wong (President, Philadelphia Hong Kong Trade Association), Stephen Wong (Regional Director, Americas, Hong Kong Trade Development Council), Michael Nocera (Executive Director, Hong Kong Association of New York), and William Uchimoto (Partner, Buchanan Ingersoll & Rooney)


ICT Collaboration and Partnership with Hong Kong (May 1, 2009)

Led by Jeremy Godfrey, Government Chief Information Officer of the Hong Kong SAR government, and Judy Leung, Vice President of the Hong Kong Information Technology Federation, a group of Hong Kong ICT companies visited the U.S.A. from May 5 to 7 to explore colloration and partner opportunities with the IT business community in San Diego. The progrm included a series of business matching meetings as well as a networking luncheon. (learn more)


International Trade Advisory Board & HKASC Joint Breakfast Meeting in San Diego (April 2, 2009)

Over 60 HKASC and ITAB members and their guested attended a joint morning program featuring a presentation on how to find new markets and expand existing ones through HKTDC's marketing platform, as well as tips and updates provided by a panel of local business executives. (learn more)

Riding the Global Economic Challenges - Hong Kong' Stimulus Plan (Feb. 10, 2009)

Over 120 members of the Los Angeles business community attended a speaker luncheon featuring Hong Kong Commissioner Mr. Donald Tong, JP, held at the Los Angeles Omni Hotel on Tuesday, February 10, 2009. (learn more)

(Photo caption:
From left: HKASC Director Ernie So, HKASC Vice President Grace Chew, HKETO San Francisco Director Doris Cheung, HK Commissioner Donald Tong JP, HKASC Vice President Dennis Lee, HKASC Vice President John Coleman, Guy Fox)


Celebrating the Year of the Ox (February 7, 2009)

Over 500 members, friends and guests of the HKASC celebrated the Year of the Ox at the Hilton Los Angeles/Univesal City Hotel on Saturday, February 7, 2009. Some of the distinguished guests included Ms. Shu Luomei representing the Consulate General of the People's Repubic of China, California State Controller John Chiang, State Board of Equalization Member Judy Chu, Assemblymen 49th District Mike Eng, Mayor of the City of Walnut Jaoquin Lim, Hong Kong Econonmic & Trade Office San Francisco Director Doris Cheung, Hong Kong Trade Develolpment Council Regional Director of the Americas Stephen Wong. (Full Story)


San Diego Holiday Banquet (December 4, 2008)

(Click here to view photo album)


Turning Crisis into Opportunity: Why Hong Kong Should be Part of Your International Business Strategy featuring HKSAR Secretary for Commercial and Economic Development Rita Lau (November 17, 2008)


The business luncheon was organized by the Hong Kong Economic & Trade Office and World Affairs Council, and supported by the Hong Kong Association of Southern California.

 

Over 200 business leaders and senior government officials attended a business luncheon featuring HKSAR Secretary for Commercial and Economic Development Rita Lau at the Los Angeles Biltmore Hotel on Monday, November 17, 2008.

In her keynote speech, Lau gave an update on Hong Kong. With advantages from business-friendly environment, low and simple tax regime, transparent common law legal sysem, state of the art infrastructure, free flow of information and capital, intellectural property protection to a dynamic cosmoplitan workforce, Hong Kong continues with its important role in serving the international business community and Mainland China's economic development. According to Lau, "We are confident that our role as an international financial center, as a hub for trade, for logistics, for tourism, for conventions and exhibitions, is unique and remains as strong as ever."

HKSAR Secretary for Commerce and Economic Development Rita Lau¡¦s responsibilities include, external commercial relations, inward investment promotion, industry and business support, tourism development, development of informa-tion technology, telecommunications, broadcasting, film and cre-ative industry, and innovation and technology.


Hong Kong Forum (October 30-31, 2008)

At the 9th Hong Kong Forum, HKASC was recognized for its outstanding recruitment effort in membership in 2007-2008. The award was presented by HKTDC Executive Director Fred Lam and members of the nominating committee at the Farewell Dinner held at the Maxim's Restaurant on Friday, October 31, 2008.

(Click here to view more photos and report)


Annual Members Meeting & Joint Networking Mixer with Industry Manufacturers Council (September 24, 2008)

Almost 100 friends and members of HKASC, Industry Manufacturers Council and other supporting organizations attended a networking mixer at the Pacific Palms conference facility located at City of Industry on Wednesday, September 28, 2008. (Full Story)

Hollywood Concert & Picnic (August 9, 2008)

Over 200 members and guests of the Hong Kong Association of Southern California and Hong Kong Schools Alumni Federation enjoyed the world's longest running musical ~ LesMiserables in Concert ~ at the Hollywood Bowl on Saturday, August 9, 2008.

Click here to view more photos


U.S. Regional Caucus Meeting in Seattle (July 14-16, 2008)

The 2008 U.S. Regional Caucus Meeting was held in Seattle from July 14 to 16, 2008. Among the participants were representatives of the Hong Kong associations in the U.S.A., Barry MacDonald, Chair of the Federation of Hong Kong Business Associations Worldwide, Bill Lau, President of the Vancouver Chapter of the Hong Kong-Canada Business Association, and Stephen Wong, Regional Director, Americas, of the Hong Kong Trade Development Council. Raymond Cheng and Chris Leu attended the event representing the Hong Kong Association of Southern California. As founding chair, Raymond Cheng was invited to continue serving the National US Hong Kong Business Association (NUSHKBA) in 2009 as Honorary Adviser. (Click here for full program report and more photos)


Sponsors Appreciation Dinner in San Gabriel (June 19, 2008)

Located at the San Gabriel historical mission district, the Mission 261 Restaurant was filled with 140 special guests and friends of HKASC at the Sponsors Appreciation Dinner on Thursday, June 19, 2008.

On behalf of HKASC, president Raymond Cheng thanked the current directors, past directors, Orange County chapter committee member, and San Diego committee members for their support of HKASC programs and activities in the past years. Also, eight long time company sponsors were invited to showcase their latest business development and news. Eleven of the luckiest lucky draw winners also took home some fabulous prizes. (fully story)


16th Chinese New Year Gala Celebration - Year of the Rat

Celebrating the Year of the Rat, the 16th Chinese New Year Gala was held at the University City Hilton on Saturday, February 23, 2008. Many of the lucky ones also won fabulous prizes including one round-trip air ticket to Hong Kong with a sightseeing tour donated by Cathay Pacific Airways and Hong Kong Tourism Board, as well as many other goodies.

Lion Dance

The Fab Four

Group Photo of Board of Directors

Dancing and lots of fun!

(learn more)


Hong Kong - Your Best Partner and Risk Manager in China


Mike Rowse
Director-General, Invest Hong Kong
HKSAR Government

Facilitating the interest of HKASC members in the Orange County area, a speaker luncheon featuring Invest Hong Kong Director-General Mike Rowse was co-organized with Invest Hong Kong, HKSAR Government, at the luxurious AAA Four-Diamond Hyatt Regency Irvine on Friday, February 1, 2008.

Mike Rowse's presentation titled "Hong Kong - Your Best Partner and Risk Manager in China" charmed over 90 guests who attended the program. (full story)


(From left: Dennis Lee, HKASC Vice President & Orange County Chair; Lawrence Tang, Head, Investment Promotion, HKSAR Government)


Private Presentation by Edward Yau, Secretary for the Environment, HKSAR


Edward Yau
Secretary for the Environment
HKSAR Government

Edward Yau was appointed as Secretary for the Environment on July 1, 2007. His portfolio covers environmental protection, nature conservation, energy and sustainable development. He is responsible for formulating policies, promoting public awareness as well as encouraging community participation regarding his portfolio areas. He also oversees plans and programmes implemented by the Environmental Protection Department, the Electrical and Mechanical Services Department, the Agriculture, Fisheries and Conservation Department and the Drainage Services Department.

A speaker luncheon hosted by the Hong Kong Economic & Trade Office in San Francisco featuring Edward Yau, Secretary for the Environment, HKSAR, was held at the Los Angeles Omni Hotel on Wednesday, January 16, 2008.

Attended by almost 60 HKASC members and business executives from the environment industry, Edward Yau addressed on the latest policy of HKSAR in bringing Hong Kong a better, cleaner and greener business environment.

His visit to Los Angeles was the first stop of a three-day visit to the U.S.A. In addition to the luncheon, he also met with the Lieutenant-Governor of California, as well as government officials, academics, think-tank experts and business leaders to exchange views on how to improve air quality and tackle climate change.


(From left: HKETO San Francisco Director Doris Cheung; HKASC Director John Gilbaugh; HKSAR Secretary for the Environment Edward Yau; HKSAR President Raymond Cheng; HKSAR Director Ernie So)

 


2007 Holiday Banquet in San Diego (December 6, 2007)

HKASC San Diego Chapter Board of Directors & Special Guests

Three hundred HKASC members and their guests celebrated the holidays at the 2007 Holiday Banquet in San Diego held at the Jasmine Chinese Restaurant on Thursday, December 6, 2007. (Full Story)

Return to Top


Entering Into Business in China and Terminating a Business Relationship in China (December 5, 2007 - Los Angeles - San Diego - Hong Kong)

From left: Stephen Wong, Jim Merklinger, Dennis Lee

Video Conferencing with Hong Kong

Q&A Session

Click here to view more photos and learn about the speakers.

A virtual meeting on joint venture and intellectual property issues for American companies in doing business with Hong Kong and China was held in Los Angeles with a satellite location in San Diego on Wednesday, December 5, 2007.

The event was organized by the Association of Corporate Counsel, Hong Kong Corporate Counsel Association, Hong Kong Trade Development Council, Hong Kong Association of Southern California, and supported by the National U.S. Hong Kong Business Association . The event was also sponsored by Morrison & Foerster.

Following welcome remarks by Stephen Wong (Regional Director, Americas, Hong Kong Trade Development Council), Hillel Cohen (Partner, Morrison & Foerster), and (Jim Merklinger, Association of Corporate Counsel), via video conference, a panel of legal experts on doing business with China in Hong Kong discussed on hot topics on doing business with Hong Kong from what to do to protect intellectual property rights, conducting due diligence on prospect partner, and the do's and don'ts of terminating a business relationship in China on joint venture and intellectual property issues for American companies.

Speakers in Hong Kong included Ralph Ybema, Hong Kong Corporate Counsel Association; Christopher To, Hong Kong International Arbitration Centre; and Jonathan Ross, Transamerica Life Insurance.

At his closing remarks, Dennis Lee (Vice President, HKASC) encouraged all of the attendees to take part in other HKASC upcoming events.


Annual Members Meeting and Joint Mixer with Industry Manufacturers Council (September 13, 2007)

The HKASC Annual Members' Meeting was held at the Pacific Palm Conference & Resort in City of Industry on Thursday, September 13, 2007. Sponsored by PCCW, a Joint Mixer co-organized with the Industry Manufacturers Council was held after the AGM. The new HKASC Board of Directors and the 100 guests attending the event were welcomed by Donald Sachs, Executive Director of the Industry Manufacturers Council and other officials representing City of Industry. (Full Story)

Return to Top


Hollywood Bowl Summer Picnic (August 3, 2007)

Over 200 HKASC and HKSAF members attended the relaxing and enjoyable summer picnic at the Hollywood Bowl on Saturday, August 3, 2007. Following the picnic was the spectacular Concert South Pacific with Reba McEntire and Brian Stokes Mitchell.


Joint Mixer with Irvine Chamber of Commerce (July 26, 2007)

Over 100 businessmen in Orange County attended an annual networking event organized by the Orange County Chapter of the Hong Kong Association of Southern California (HKASC) - the largest Hong Kong association in the U.S.A with almost 650 individual members. The event was held at the Doubletree Irvine Spectrum Hotel located in the heart of Southern California's Technology Coast on Thursday, July 26, 2007.

 

Representing the event sponsor, HSBC, Ms. Wendy Zimmerman, was presented with a Gold Sponsor appreciation plaque by HKASC president & NUSHKBA vice president Raymond Cheng for the company's contribution and support to both the HKASC and NUSHKBA. In addition to HSBC, Christopher Leu, immediate past chair of of the Federation of Hong Kong Business Associations Worldwide as well as a successful entrepreneur, was also acknowledged for his keen support of all programs and activities in relating to promoting international trade between Hong Kong and the U.S.A and his generous contribution to the NUSHKBA and its activities. (Full Story)

HKSAR 10th Anniversary Celebration Party in San Diego (June 30, 2007)

A summer weekend party jointly organized with the San Diego Chinese Association for HKASC members to celebrate the HKSAR 10th anniversary with their families and guests.


Chinese New Year Gala Celebrates Year of the Golden Boar

Spirits were high as over 630 Hong Kong Association members and guests filled the Universal Hilton ballroom for the 15th Annual Chinese New Year Gala Dinner. Commencing the Year of the Golden Boar, the Gala Dinner marks one of the most anticipated and celebrated events of the HKASC calendar. (Full Story)


Hong Kong Forum 2006 Celebrates 40 Years of Business Success

Over 400 Federation of Hong Kong Business Associations Worldwide (FHKBAW) members from 20 countries converged for the seventh annual Hong Kong Forum, held November 28 to 29, 2006. The Forum’s two-day program comprised high-level seminars and networking events, a keynote address by Hong Kong Financial Secretary Henry Tang and culminated with a trip to the Pan-Pearl River Delta. The Forum also coincided with the 40th anniversary of the Hong Kong Trade Development Council (HKTDC) . (Full Story)


Video Conference with Hong Kong (Sept 2006)

A virtual meeting on joint venture and intellectual property issues for American companies in doing business with Hong Kong and China co-organized with the Association of Corporate Counsel, Hong Kong Trade Development Council, National U.S. Hong Kong Business Association was held on Thursday, September 28, 2006, at the Los Angeles office of Morrison & Foerster. In addition to Los Angeles, the program was also aired to Orange County and Hawaii. (Full Story)

Return to Top


For Lawry's, Finding the Right Partner is Key to Expanding in Asia (Sept 2006)

At a breakfast briefing held Thursday, September 7, 2006, at the Jonathan Club in Los Angeles, Richard N. Frank, Chairman of the renowed Lawry's Restaurant group and his son, Richard R. Frank, shared the group's successful story in launching the first Lawry's in Hong Kong through working with the right partner. (Full Story)

Return to Top


4th Summer Mixer in Orange County (July 2006)

Among the 165 attendees, Godwin Tsui of HSBC Mortgage Corp was the luckiest one who won the Grand Raffle Prize, a roundtrip air ticket Los Angeles/Hong Kong, donated by Cathay Pacific Airways.

The 4th Orange County Summer Mixer was held on Thursday, July 13, 2006 at the Irvine Marriott Hotel.

The evening was filled with valuable networking opportunities with members of other trade groups in the Orange County area including the Asian Business Association of Orange County, Asian Business League of Southern California, Filipino American Chamber of Commerce of Orange County, Irvine Chamber of Commerce, Korean American Bar Association, Singapore American Business Association of Southern California, Vietnamese-American Chamber of Commerce in Orange County .....

(Full story)

Return to Top


Hong Kong and Jiangmen: Your Partners For Success in China, San Diego, June 15, 2006

The panel of speakers included Roger Shahnazarian, Pulse; Gavin Lam, Lynns Concepts; John Rutherford, Invest Hong Kong; Steve Alexander, HKTDC; Vice-Mayor Lu Depei, Jiangmen; Clellen Ip, Emerson Electric; Nader Nemati, Epicore; and Kam Li, Procopio, Cory, Hargreaves & Savitch. Christopher Leu, Chairman, FHKBAW, was the moderator.

The pace of change in China is unprecedented. Long a major manufacturing center and exporter, China is now also a major importer with demand for technology, equipment and products growing at a blistering rate. To succeed in China, sufficient preparation is vital. The size and complexity of the China market require a commitment and a viable business strategy, particularly if you're a small or mid-sized enterprise.

Helping HKASC members to gain entry into China, HKASC co-operated a business seminar with the Hong Kong Trade Development Council, San Diego World Trade Center as well as the Jiangmen People's Municipal Government at the Hyatt Regency Islandia in San Diego on June 15.

Click here for photo album or please visit event website for complete program information and speakers' presentations.


Updates on Hong Kong

Further Services Liberalization Under CEPA (May 9, 2009)

On May 9, the Hong Kong Special Administrative Region Government and the Central People's Government agreed on further services liberalization and trade co-operation under the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA). Witnessed by the Chief Executive, Mr. Donald Tsang and other guests, the Financial Secretary, Mr. John C. Tsang, and the Vice-Minister of Commerce, Mr. Jiang Zengwei, signed the Supplement VI to CEPA. Under Supplement VI to the CEPA, the Mainland will introduce 29 liberalization measures covering 20 service sectors, including two new sectors (research and development, and rail transport). Thus, the total number of service sectors covered by CEPA will be expanded from 40 to 42. (Full Story)


Awareness of Intellectual Property Rights Protection Remains High (April 7, 2009)

Results of the latest Survey on Business Attitudes to Intellectual Property were announced on April 7 reveal that awareness of intellectual property (IP) rights among business establishments in Hong Kong remains high. A total of 1,001 business establishments responded in the survey commissioned by the Intellectual Property Department (IPD). More than 92.1% of the respondents were aware that IP rights included copyright, trademarks and patents. The respondents in general considered that it was necessary to protect IP rights in Hong Kong¡¦s business environment (93.7%) and that IP was a company¡¦s valuable asset (98.3%). (Full Story)


Three-Year Action Plan on Shenzhen/Hong Kong Co-operation in Innovation and Technology (March 31, 2009)

Following the signing of the co-operation agreement on the ¡§Shenzhen/Hong Kong Innovation Circle¡¨ in May 2007 to enhance the competitiveness of the industries of both sides by encouraging co-operation between their R&D institutions and industries, HKSAR Secretary for Commerce and Economic Development, Mrs. Rita Lau, co-chaired the third meeting of the ¡§Steering Group on Shenzhen/Hong Kong Co-operation in Innovation and Technology¡¨ with Science and Technology Adviser to the Mayor of the Shenzhen Municipal Government and Chairman of the Shenzhen side, Mr. Liu Yingli, in Shenzhen on March 31, 2009.

The two sides reviewed in the meeting the items of co-operation now under way and agreed on the action plan under the ¡§Shenzhen/Hong Kong Innovation Circle¡¨ for the coming three years. The action plan comprises 24 co-operation projects under three categories: Innovation Foundation (provision of laboratories or facilities), Service Platform (sharing of technological resources and provision of technological services platform) and Major research and development (R&D) Projects (co-operation in particular technological areas, such as solar battery). Details on implementation of the projects will be confirmed by responsible institutions afterwards. (Full Story)


Thin Film Photovoltaic R&D Centre opens in Hong Kong (March 20, 2009)

HKSAR Chief Executive Mr. Donald Tsang officiated at the opening ceremony of the DuPont Apollo Global Thin Film Photovoltaic Business Headquarters and Research and Development (R&D) Centre and the Hong Kong Science Park Solar Energy Technology Support Centre at Hong Kong Science Park on March 20, 2009. The center is part of the first major technology co-operation project of the ¡§Shenzhen Hong Kong Innovation Circle¡¨ under the Hong Kong Special Administrative Region Government and the Shenzhen Municipal Government in collaboration with DuPont. The purpose of the center is to establish a Solar Energy Research and Industrial Platform. (Full Story)


Multi-Currency Cross-Border Payment Arrangements between the Mainland and Hong Kong (March 12, 2009)

The People¡¦s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding for the establishment of multi-currency cross-border payment arrangements between the Mainland and Hong Kong (¡§cross-border payment arrangements¡¨). The cross-border payment arrangements will go live on March 16, 2009.

The establishment of the cross-border payment arrangements is an important move jointly taken by the PBoC and the HKMA to strengthen cooperation in the area of financial infrastructure between the two economies. These arrangements will deepen the ongoing promotion of financial cooperation between the Mainland and Hong Kong and mark the introduction of a wide-ranging cross-border payment and settlement mechanism covering multiple currencies. (Full Story)


Awareness of Protection of Intellectual Property Rights Enhanced (February 19, 2009)

A survey commissioned by the Intellectual Property Department of the Hong Kong Special Administrative Region Government has shown that Hong Kong people are becoming more aware of the importance of protecting intellectual property (IP) rights. (Full Story)


HKSAR Chief Executive Appoints New Members to Executive Council (January 20, 2009)

Hong Kong Chief Executive, Mr. Donald Tsang, announced the appointment of five new members to the Executive Council with effect from January 21, 2009. The new appointees are: Mr. Lau Wong-fat, Professor Lawrence Lau Juen-yee, Ms. Anna Wu Hung-yuk, Ms. Marjorie Yang Mun-tak and Mr. V Nee Yeh. (Full Story)


People¡¦s Bank of China and Hong Kong Monetary Authority Sign Currency Swap Agreement (January 20, 2009)

On December 19, 2008 the Chinese Government announced that 14 measures would be undertaken in seven areas to support Hong Kong¡¦s financial stability and economic development, including agreeing to the signing of a currency swap agreement between the People¡¦s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA). (Full Story)


Hong Kong Ranked World's Freest Economy for 15th Consecutive Year (January 13, 2009)

Hong Kong has been ranked as the world's freest economy for the 15th consecutive year in the 2009 Index of Economic Freedom, jointly published by The Heritage Foundation and The Wall Street Journal. According to the findings, Hong Kong scores 90 on the 100-point scale ¡V 0.3 point better than last year and above the world average score of 59.5. (Full Story)


IMF commends Hong Kong Government's decisive actions to bolster financial stability (December 9, 2008)

In its Staff Report on Hong Kong released on December 9, 2008, the International Monetary Fund (IMF) commended the measures of the Government of the Hong Kong Special Administrative Region to contain the contagious risks from the global financial turmoil and reiterated its support for the Linked Exchange Rate system (LERS). The IMF projects Hong Kong¡¦s economic growth to fall noticeably in the coming months amid the still unfolding turbulence in the international financial markets. Consumer price inflation is expected to fall below 3% in 2009. In the long run, an economic growth rate of around 5% per annum is feasible given the consistent improvements in productivity and overall dynamism and adaptability of the economy. (Full Story)


Hong Kong¡¦s total port cargo throughput in the third quarter (December 8, 2008)

According to statistics on vessels, port cargo and containers for the third quarter of 2008 released by the Census and Statistics Department on December 8, 2008, Hong Kong¡¦s total port cargo throughput in the third quarter grew 9% year-on-year to 67.3 million tonnes. (Full Story)


Chief Executive announces economic stimulus package (December 8, 2008)

Mr. Donald Tsang, the Chief Executive of the Government of the Hong Kong Special Administrative Region, announced on December 8, 2009 that the Government would provide up to HK$100 billion (US$12.82 billion) in loan guarantees for enterprises and make available over 60,000 employment opportunities next year as part of the Government's efforts to lead Hong Kong out of the economic downturn. The key initiatives include Expand SME Credit Guarantee Scheme, Job Creation and Mainland Support. (Full Story)


Release of the Michelin guide in Hong Kong (December 2, 2008)

Hong Kong was recognized as a center for gastronomy following the release of the "Michelin Guide Hong Kong Macau 2009" on December 2, 2008 as well as being one of the first Michelin cities in China. As Asia's capital for fine wine and good food, major industry trade events such as the Hong Kong International Tea Fair (August 13-15, 2009), Food Expo (August 13-17, 2009), Hong Kong International Wine & Spirits Fair (November 4-6, 2009) are held in Hong Kong.


New Hong Kong Commissioner for Economic and Trade Affairs, USA (November 18, 2008)

Donald Tong has assumed the post of Hong Kong Commissioner for Economic and Trade Affairs, USA, the most senior representative of the Hong Kong Special Administration Region Government in the U.S. As Commissioner, he engages in constituency-building activities across the U.S. and directs the Hong Kong Special Administrative Region Government's efforts to enhance Hong Kong-U.S. cultural, economic, and trade ties. Mr. Tong also oversees the work of the three Hong Kong Economic and Trade Offices in Washington, New York and San Francisco. (Full Story)


HKSAR Chief Executive 2008-09 Policy Address: New initiatives to upgrade quality of Life and how Hong Kong will emerge stronger from current crisis (October 15, 2008)

Delivering his 2008-09 Policy Address, "Embracing New Challenges," to the Legislative Council, Chief Executive Donald Tsang today unveiled a number of measures to address the global financial crisis, protect the public interest and upgrade Hong Kong's quality of life. (Full Story)

Mr. Tsang said that Hong Kong would turn the current crises into opportunities by vigorously pursuing economic development in areas such as financial services, cross-boundary integration, infrastructure projects, creative industries and scientific research. (more)

The Chief Executive unveiled several measures that would help reduce greenhouse gas emissions, improve air quality and encourage recycling. These included:

  • Adopting new air quality targets in stages, giving due regard to the World Health Organization guidelines
  • Promoting the use of clean fuels such as gas for power generation
  • Legislating for mandatory compliance with building energy codes
  • Extending the Mandatory Energy Efficiency Labelling Scheme
  • Introduction of an environmental levy on plastic shopping bags at selected retail outlets in 2009 (more)

Hong Kong Government Supports Developing Radio Frequency Identification Technology (October 9, 2008)

The Hong Kong Special Administrative Region Government had been working consistently to promote the development of technology in areas where Hong Kong had a competitive edge with the clear objective of making Hong Kong a regional hub of innovation and technology. Officiating at the opening ceremony of the Hong Kong Radio Frequency Identification Centre (Supply Chain Innovation Centre) at Hong Kong Science Park, Hong Kong Secretary for Commerce and Economic Development Mrs Rita Lau said one of those technology areas was radio frequency identification (RFID), which was often regarded as the next emerging technology after the Internet and could have even greater direct impact on daily and business life. (Full Story)


Hong Kong Monetary Authority to Provide Liquidity Assistance to Licensed Banks in Hong Kong (September 30, 2008)

The Hong Kong Monetary Authority (HKMA) announced five temporary measures for providing liquidity assistance to licensed banks in Hong Kong. With effect from Thursday (October 2) for a period of six months until the end of March 2009, the HKMA will provide liquidity assistance on request from licensed banks. (Full Story)


Hong Kong Reaffirmed as Asia's Leading City for International Business (September 25, 2008)

Hong Kong's status as one of the world's leading destinations for foreign direct investment (FDI) and sources of outward FDI has been reaffirmed by the World Investment Report 2008, released on September 25, 2008 by the United Nations Conference on Trade and Development. Hong Kong was the world's seventh, and Asia's second largest, FDI recipient, attracting US$59.9 billion inward investment in 2007. The Mainland of China ranked first in Asia Pacific in FDI inflows, reaching US$83.5 billion. (Full Story)


Hong Kong Chief Executive Appoints Political Assistants (May 22, 2008)

Hong Kong Chief Executive, Mr. Donald Tsang, today appointed the first batch of nine Political Assistants of the Hong Kong Special Administrative Region Government. The Chief Executive praised the new appointees for their passion and commitment. He said he was confident that they would be able to assist the Secretaries and Under Secretaries of Bureaux and work closely with the highly professional civil service to better serve Hong Kong. The Political Assistants are appointed under the expanded political appointment system on non-civil service terms for the term ending June 30, 2012. The Government will make further announcements on the remaining positions of Under Secretaries and Political Assistants in due course. (Full Story)


Hong Kong Chief Executive Appoints Under Secretaries (May 20, 2008)

Hong Kong Chief Executive, Mr. Donald Tsang, today appointed the first batch of eight Under Secretaries to bolster the strength and capacity of the Government's team of political appointees under the political appointment system.

At the rank of Deputy Directors of Bureau, the new Under Secretaries are drawn from the finance, legal and medical professions, as well as academia and the media. One of them is an Administrative Officer. (Full Story)


Diskeeper Corporation Chooses Hong Kong as its Hub to Explore the
Greater China Market (May 20, 2008)

Diskeeper Corporation today announced the grand opening of Diskeeper Corporation China Limited in Hong Kong. The launch of this new office signifies Diskeeper Corporation¡¦s commitment to the Greater Chinese market, providing computer users in the market unparalleled speed and reliability technology. (Full Story)


US-based Cotton Incorporated Opens its Regional Office in Hong Kong (May 19, 2008)

US-based Cotton Incorporated announced the grand opening of its regional office in Hong Kong today. Cotton Incorporated is the research and marketing company representing US upland cotton, providing solutions to supply chain partners to influence the use of cotton. Its mission is to build the demand for and profitability of cotton worldwide. The new regional office in Hong Kong will offer technical services for mills and manufacturers in the region. It will also provide information on cotton supply and demand, fibre quality and consumer research trends as well as product trend analysis services which include sourcing specialists and supplier information. (Full Story)


Re-visit of Olympic Flame to Hong Kong (April 30, 2008)

The Olympic flame today arrived in its first stop on Chinese soil, Hong Kong, for the Torch Relay in the territory to be conducted on May 2 (Friday). This is the second time for the Olympic flame to be relayed in Hong Kong since the Tokyo Olympic Games in 1964. (Full Story)

The Sports Federation & Olympic Committee of Hong Kong, China (SF&OC), 2008 Beijing Olympic Equestrian Events Hong Kong Fund and the Home Affairs Bureau of the Hong Kong Special Administrative Region Government jointly held the ¡§Celebration of the 100-day Countdown to the Beijing 2008 Olympic Games¡¨ at Hong Kong Coliseum on April 30 to mark the 100 days to the opening of the Olympic Games. (Full Story)


Legislative Amendments on Wine Duty Reduction (April 23, 2008)

The Hong Kong Special Administrative Region Government will publish in the Gazette on April 25 the legislative amendments that are required for giving effect to the Budget proposals on the reduction of wine duty to zero. In his 2008-09 Budget, the Financial Secretary proposed reducing duties on wine (and other liquors) to zero, and the removal of licensing/permit arrangements related to duty collection. (Full Story)

Bonhams Holds Its Inaugural Hong Kong Fine & Rare Wines Auction (April 24, 2008)

Following the company¡¦s recent expansion in Hong Kong, Bonhams today held its inaugural Hong Kong fine & rare wines auction in Crown Wine Cellars. The wine auction is the first one to be held in Hong Kong in 10 years and also the first one to be held since the announcement of the exemption of wine from duty by the Financial Secretary, Mr. John C. Tsang in the Budget Speech announced in February. (Full Story)


Hong Kong Monetary Authority Recognized as Asia's Leading Bank Regulator

The Hong Kong Monetary Authority (HKMA) was presented with The Asian Banker Award for Achievement in Regulation in the Financial Services Industry 2007 on March 16. The annual Asian Banker Achievement Awards program has been organized by The Asian Banker magazine since 2005 to recognize individual excellence in the financial services industry. The award was based on a rigorous selection process chaired by Mr. David Eldon, Chairman of Dubai International Financial Centre Authority. (Full Story)


Hong Kong Ranked as World's Freest Economy

Hong Kong has been ranked as the world's freest economy for the 14th consecutive year in the 2008 Index of Economic Freedom, jointly published by The Heritage Foundation and Wall Street Journal. According to the index, Hong Kong scores exceptionally well in almost all areas of economic freedom. Among the 10 factors assessed, Hong Kong ranks first in trade freedom, investment freedom, financial freedom and property rights. Hong Kong ranks in the top 10 in fiscal freedom, government size, monetary freedom and labor freedom. (Full Story)

 


Fashion Week, World Boutique in the Fashion Spotlight -
More than 1,700 International Exhibitors Attracted to the Twin Fairs

Hong Kong Fashion Week for Fall/Winter 2008, Asia's largest fashion fair, opened today featuring 1,490 exhibitors from around the world. The fair continues through January 17 at the Hong Kong Convention and Exhibition Centre.

World Boutique, Hong Kong, which runs concurrently with Fashion Week for Fall/Winter, has attracted 366 brands and 255 exhibitors from 13 countries and regions. The two high-style fashion fairs are organised by the Hong Kong Trade Development Council (TDC).

(Full Story)


US Companies in Hong Kong gave strong vote of confidence in Hong Kong

US companies have given a strong vote of confidence to Hong Kong's business outlook, culminating another year of vibrant economic performance.

The annual AmCham Business Outlook Survey, released in December, revealed that many member companies are preparing for growth and further investments in Hong Kong. This positive sentiment is largely credited to Hong Kong's ability to offer a business-friendly environment, and for positioning itself to remain competitive within the region. (Full Story)


Hong Kong Government Announces 2008 Digital 21 Strategy (December 21, 2007)

The Hong Kong Special Administrative Region Government today announced the 2008 Digital 21 Strategy, the latest blueprint for the development of information and communications technology (ICT) in Hong Kong. Under the new strategy, five action areas have been identified to achieve the vision of enhancing Hong Kong's status as a world digital city: to facilitating a digital economy, to promoting advanced technology and innovation, to develop Hong Kong as a hub for technological cooperation and trade - Harness Hong Kong's role as the two-way platform for Mainland enterprises to bring in foreign investment and participate in the global economy, to enable the next generation of public services, and to build an inclusive, knowledge-based society. (Full Story)


World SME Expo Opens with Big Mainland Presence (December 12, 2007)

One of the world's largest events for small and medium-sized enterprises, World SME Expo, opened today and continues through December 14 at the Hong Kong Convention and Exhibition Centre. About 330 exhibitors from more than 40 countries and regions are taking part in this, the 7th edition of World SME Expo. In all, about 40,000 participants are expected at SME Expo and a variety of concurrent events, including Inno Design Tech Expo (IDT Expo) and Business of Design Week (BODW). (Full Story)


Hong Kong's Foreign Currency Reserves at US$150.4 Billion (December 8, 2007)

Hong Kong's foreign currency reserves stood at US$150.4 billion at the end of November 2007, according to the Hong Kong Monetary Authority, up from US$142.2 billion at end-October 2007. The US$8.2 billion increase in settled foreign currency assets in the month of November was mainly due to the purchase of foreign currencies with Hong Kong dollars. Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of November 2007 stood at US$150.6 billion, up from US$143.7 billion at end-October 2007. Hong Kong is the world's ninth largest holder of foreign currency reserves based on the latest published figures, after Mainland China, Japan, Russia, India, Taiwan, Korea, Brazil and Singapore. The total foreign currency reserve assets of US$150.4 billion represent over seven times the currency in circulation or about 31% of Hong Kong dollar M3.


Hong Kong Moves Towards Wireless City (December 7, 2007)

A great step forward in making Hong Kong a wireless city has been taken with the awarding of the contract for the Government Wi-Fi program, which provides the public with convenient and free access to wireless Internet facilities. Speaking at the contract signing ceremony today, the Government Chief Information Officer, Mr. Howard Dickson, said that the Government's vision was to make Internet broadband services available to all citizens in Hong Kong, whether at home or on the move. "The 'GovWiFi' program is one of the many initiatives to be taken forward in leading towards the vision," he said. (Full Story)


Developing Democracy and Enhancing Governance a Key Theme of Chief Executive's Policy Address (Oct 10, 2007)

In his annual Policy Address, Hong Kong Chief Executive Mr. Donald Tsang promised to develop democracy and promote excellence in governance.

The release of Mr. Tsang¡¦s Policy Address, the first of the Third Term Government of the Hong Kong Special Administrative Region (HKSAR), also coincided with the end of the three-month public consultation on constitutional reform.

As of October 10 afternoon, the HKSAR Government had received more than 17,500 submissions, including more than 12,000 standard responses put to the Constitutional and Mainland Affairs Bureau by various political parties and groups.

¡§During the consultation period, the Government received thousands of submissions and proposals from different sectors and strata of the community," he said. "These views have expressed thoroughly the community's pluralistic aspirations on democratic development. I am particularly moved and encouraged by the fact that the entire consultation has been conducted in a rational and pragmatic manner." (Full Story)


Chief Executive Outlines New Direction for Hong Kong in Policy Address (Oct 10, 2007)

Hong Kong Chief Executive Mr. Donald Tsang, has outlined a new direction for Hong Kong¡¦s development in his first Policy Address of the Third Term Hong Kong Special Administrative Region Government.

Speaking at the Legislative Council, Mr. Tsang said he had full confidence in the city¡¦s future.

¡§The rise of our country brings new opportunities. It also ushers in a new era for Hong Kong,¡¨ said Mr. Tsang in his Policy Address entitled ¡¥A New Direction for Hong Kong¡¦.

¡§Over the next five years, we need to cultivate a new spirit for these new times. We need to become new Hongkongers, better equipped to sustain developments in the new era,¡¨ he said. ¡§To capitalize on these opportunities, we all have to set new goals. We need vision, but, more importantly, we need practical plans to achieve that vision.¡¨

Mr. Tsang set out three ¡¥guiding principles¡¦ to realize his vision over the next five years:

  • Promoting economic development as a primary goal;
  • Promoting sustainable, balanced and diversified development; and,
  • Enhance social harmony to facilitate social mobility, help the poor, create job opportunities and promote a caring culture in the community

The Chief Executive advocated the concept of ¡¥Progressive Development¡¦ to achieve these goals.

(Full Story)


Hong Kong remains Asia's top city for international companies

Invest Hong Kong said it was pleased to note that Hong Kong remained the preferred city in Asia for overseas and Mainland companies, according to the results of an annual survey released today (October 2). At the same time, the Department cautioned that more needed to be done to ensure Hong Kong¡¦s continued competitiveness in the years ahead.

¡§Once again, Hong Kong is one of the most preferred locations for overseas and Mainland companies managing their operations in Asia Pacific. According to the survey results, of the 6,440 companies in Hong Kong representing parent companies located outside Hong Kong, 3,890 are regional offices or headquarters. This is an all-time high,¡¨ said the Director-General of Investment Promotion, Mr Mike Rowse.

¡§For us at Invest Hong Kong, there is no better advertisement for our city than companies which do their due diligence and select Hong Kong as their primary office in the region,¡¨ Mr Rowse added.

Mr Rowse recognised that Hong Kong could not rest on its laurels. ¡§We¡¦re at the heart of a competitive, high-growth region and investors have more and more choices. What I¡¦m hearing from the international chambers in Hong Kong and during my trips overseas is that Hong Kong has three key challenges ahead. We need to focus on the high cost of office premises, on improving our air quality and on increasing the number of international school places. The Government is aware of these problems and is working to address them.¡¨

The results are based on the "Annual Survey of Companies in Hong Kong Representing Parent Companies Located outside Hong Kong" conducted by the Census and Statistics Department of the Hong Kong SAR Government. (Full Story)


Government Welcomes Pilot Scheme for Mainland Individuals to Invest Directly in Hong Kong Securities (August 20, 2007)

Hong Kong Financial Secretary John Tsang and the Chief Executive of the Hong Kong Monetary Authority (HKMA), Joseph Yam, have welcomed the pilot scheme announced by the State Administration of Foreign Exchange (SAFE) for Mainland individuals to invest directly in securities in Hong Kong. Under the scheme, resident individuals can use foreign currency funds of their own or those converted from renminbi to invest in securities listed on the Hong Kong Stock Exchange. (Full Story)


Greater Pearl River Delta Business Council Issues 2006-07 Annual Report

The Greater Pearl River Delta Business Council issued its third annual report on its work for 2006-07 on July 31, 2007. On the publication of the 2006-07 annual report, Hong Kong Chief Executive said he was pleased to note that the Business Council had put forth very constructive views on various major co-operation items relating to Hong Kong/Guangdong co-operation. He said participation of the private sector was crucial to the development of Hong Kong and Guangdong, and he looked forward to the continued efforts and contribution made by the Business Council in promoting co-operation between the two places. The annual report can be found on the Web site: [www.cmab.gov.hk/en/issues/council_report_0607.htm]


Constitutional Reform Green Paper Unveiled (July 11, 2007)

The Hong Kong Special Administrative Region (HKSAR) government today published a Green Paper on Constitutional Development to consult the public on the models, roadmap and timetable for electing the Chief Executive and for forming the Legislative Council (LegCo) by universal suffrage - the ultimate aim as provided under Hong Kong¡¦s mini-constitution, the Basic Law. (Full Story)


Greater Pearl River Delta Business Council Publishes Study Report (July 11, 2007)

The Greater Pearl River Delta Business Council has today published a study report on "The Impact of Mainland Processing Trade Policy on Hong Kong".

Chairman of the council, Dr. Victor Fung, said that starting from the latter half of 2006, the Central Government had introduced changes to the processing trade policy, which aimed at restricting the production and export of high pollution, high energy consumption and resource consumption products while encouraging the upgrading and restructuring of processing trade at a faster pace. (Full Story)


Treasury Markets Association to Launch Renminbi Bond Price Fixing (July 11, 2007)

The Treasury Markets Association (TMA) announced today that it will launch a daily price fixing commencing July 12, 2007 for renminbi denominated bonds issued in Hong Kong.

The introduction of the fixing will enhance the price transparency of the renminbi bonds and facilitate the development of the renminbi bond market in Hong Kong. The fixing will be launched on the same day as the first renminbi bond is issued in Hong Kong and will be extended to other new renminbi bond issues in the future. (Full Story)


Hong Kong Remains Highly Attractive to Foreign Investors (July 11, 2007)

Hong Kong Chief Executive, Mr. Donald Tsang, thanked new overseas and Mainland investors for their vote of confidence in Hong Kong at a reception today for about 200 chief executive officers and senior representatives of overseas and Mainland companies that recently established a business presence or expanded operations in Hong Kong. (Full Story)


Shenzhen Bay Port and Bridge to Commence Operation on July 1, 2007 (June 25, 2007)

The Shenzhen Bay Port and the Shenzhen Bay Bridge - also known as the Hong Kong-Shenzhen Western Corridor - will commence operation on July 1, 2007.

"The Shenzhen Bay Port will be officially opened after a ceremony at noon on July 1, and passenger and cargo clearance facilities will be opened for public use from 6pm," a spokesman for the Hong Kong Special Administrative Region (HKSAR) Government said today. (Full Story)


HKSAR Executive Council Membership Announced (June 25, 2007)

The Chief Executive, Mr. Donald Tsang, tod

ay announced the membership of the Executive Council (Exco) for the third term Hong Kong Special Administrative Region Government.

The new Exco comprises all 15 Principal Officials appointed under the accountability system and 16 non-official members. Their term will take effect on July 1.

The 16 non-official members are Mr. Leung Chun-ying, Mr. Tsang Yok-sing, Mr. Cheng Yiu-tong, Mr. Andrew Liao, Mrs. Selina Chow, Mrs. Laura Cha, Mr. Bernard Chan, Mr. Rafael Hui, Mr. Charles Lee, Mr. Ronald Arculli, Dr. David Li, Dr. Leong Che-hung, Dr. Marvin Cheung, Mr. Henry Fan, Mr. Victor Lo and Professor Anthony Cheung. (Full Story)


New Team of Principal Officials Appointed (June 25, 2007)

The Central People's Government, on the nomination of the Chief Executive, Mr. Donald Tsang, approved the appointments of Principal Officials of the Third Term of the Hong Kong Special Administrative Region (HKSAR) Government on June 23.

Commenting on the appointments, the Chief Executive said that he believed the professional, pragmatic and committed new team would single-mindedly work with him to deliver on the pledges he made in his election platform.

"The appointments include incumbent Principal Officials and several new faces. This will help us to ensure stability and continuity, as well as add some new blood to our governing team. All members of my new team have displayed in their work a strong sense of pragmatism that I promote," the Chief Executive said.

"While their backgrounds are diverse, the three Secretaries and 12 Directors of Bureaus share a common commitment to our country, our territory and our people. Importantly, they share my governing philosophy. Given their talents and abilities, they are the best candidates for these senior positions. Together, they will make a great team." (Full Story)


Chief Executive's Hong Kong Letter (June 18, 2007)

Following is the translation of the "Hong Kong Letter - Just because you are here" by the Chief Executive of the Hong Kong Special Administrative Region, Mr. Donald Tsang, broadcast on Radio Television Hong Kong:

Fellow citizens,

This year, we celebrate the 10th anniversary of Hong Kong's reunification with the motherland. Ten years is a significant period of time. Looking back over the past decade, Hong Kong people will have different thoughts and recount different experiences. So today, I would like to share with you my own feelings about these past 10 years.

My feelings are a mix of joy and grief. The past decade has been full of challenges. As Premier Wen Jiabao puts it, since our return to the motherland 10 years ago, Hong Kong has taken a truly extraordinary path. We have encountered unprecedented difficulties : the Asian financial turmoil, avian influenza, SARS, to name a few. None of these were resolved by referring to previous experience, or by following quick-fix solutions. The journey has been long and tough, but ultimately we weathered all these crises... (Full story)


CEPA Benefits Hong Kong Economy and Business Enterprises (June 12, 2007)

The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) continues to bring benefits to both business enterprises and the Hong Kong economy as a whole, according to the Administration¡¦s second study on the CEPA¡¦s economic impact.

The report of the study, which covers trade in goods, trade in services and the Individual Visit Scheme (IVS), has been submitted to the Legislative Council¡¦s Panel on Commerce and Industry.

The report sets out findings on the economic impact of CEPA liberalization measures implemented between 2004 and 2006, and also made forecast of the CEPA¡¦s impact on the Hong Kong economy in 2007 and beyond. (Full story)


Hong Kong Hosts Chief Justices of Asia and the Pacific Conference (June 4, 2007)

The 12th Conference of Chief Justices of Asia and the Pacific opened on June 4 with comments from Hong Kong¡¦s Honorable Chief Justice Mr. Andrew Kwok-nang Li on the effect of the ¡§One Country, Two Systems¡¨ principle on the legal system. The biennial conference, which gathers 29 chief justices from jurisdictions across Asia, is hosted by the Judiciary of the HKSAR and takes place in Hong Kong for the first time. Participants will also attend the 20th LAWASIA Biennial Conference on June 6, hosted by the Law Society of Hong Kong.

In his remarks, Chief Justice Li declared that since the 1997 handover, Hong Kong¡¦s common law system has continued to develop and thrive. Hong Kong still faces ¡§common problems and challenges in the fair and effective administration of justice,¡¨ but Chief Justice Li believes that great benefit is derived from maintaining links and exchanges with other jurisdictions via such forums. The conference, which runs through June 7, focuses on the administration of justice and the development of judicial systems in various Asian jurisdictions.


Hong Kong Chief Executive Announces Reorganization of Government Secretariat (May 3, 2007)

Hong Kong Chief Executive Mr. Donald Tsang announced today the plan to reorganize the Government Secretariat which will take effect from July 1, 2007.

Addressing the Legislative Council (LegCo) on the reorganization plan, the Chief Executive said that the reorganization served two key objectives.

Firstly, the reorganization aims to rationalize the distribution of responsibilities between policy bureaux. Putting related responsibilities under one bureau will help optimize the synergy and enable the Government to sharpen its focus on important and complex issues.

"Secondly, this will better facilitate the Chief Executive to implement the priority policy initiatives pledged during the Chief Executive election to meet the opportunities and challenges of Hong Kong ahead," said Mr. Tsang.

Pursuant to the reorganization, there will be 12 bureaux, with the net addition of one, being the Labour and Welfare Bureau, after the reorganization. Each bureau will be headed by a Director of Bureau. The setting up of the private office of the additional Director of Bureau constitutes the only net increase in civil service establishment. (Full Story)


Hong Kong and California Renew MOU on Air Quality Management (April 3, 2007)

Hong Kong Permanent Secretary for the Environment, Transport and Works (Environment) Ms. Anissa Wong Sean-yee and the Chairman of California Air Resources Board Dr. Robert F Sawyer, today signed to renew a Memorandum of Understanding (MOU) on collaboration between the Hong Kong Special Administrative Region and California on air quality management.

The previous MOU, signed in December 2002, has enhanced the co-operation between the Hong Kong Environmental Protection Department and the California Air Resources Board in the effort to safeguard the air environment. Both the Department and the Board have benefited from the strengthened collaboration during the past five years through technical exchanges, information sharing and visits covering the control of volatile organic compounds, vehicle emissions and air pollution emission modeling.

Under the renewed MOU, both parties will continue the collaboration and further exchange information, share experience and conduct joint projects on air management practices and pollution control technologies. Specific areas of co-operation will include:

  • strategies of controlling air pollution
  • ambient air quality monitoring
  • air quality modeling, emission inventory and forecast
  • motor vehicle emission standards and control technology
  • alternative fuels for vehicles
  • toxic air pollutants
  • ozone depleting substances
  • volatile organic compounds

The renewed MOU came into effect today and will remain valid for five years.

(http://www.hketousa.gov.hk/usa/press/2007/apr07/040307.htm)

Return to Top


HKSAR 10th Anniversary Celebration (June 21, 2007)

To celebrate the first decade of Hong Kong as a Special Administrative Region, the Hong Kong Economic & Trade Office in San Francisco co-organized a reception with the Hong Kong Association of Southern California and Hong Kong Schools Alumni at the Los Angeles Omni Hotel on Thursday, June 21, 2007.

In her speech, Ms. Doris Cheung, HKETO San Francisco Director, shared some of Hong Kong's remarkable achievements in the past ten years. In addition to being the sixth largest stock market in the world in terms of market capitalization, the leading asset management centre in Asia, the world's top international cargo handling centre, the sixth recipient of FDI in the world, Hong Kong also housed regional operations for almost 4,000 overseas companies.

Behind Hong Kong's economic success, rule of law, free flow of information, capital and people, protection of rights and freedoms, a clean and transparent government, and a level of playing for all are the cornerstone of Hong Kong.

Click here to view photo album or visit http://www.hketosf.gov.hk/sf/10th_anniversary.htm for other HKSAR 10th anniversary celebration events.


WHY HONG KONG, WHY NOW?
by Jack Maisano, HK Amcham President (April 6, 2006)

At a speaker luncheon held Thursday, April 6, 2006 at the Millennium Biltmore Hotel in Los Angeles, Jack Maisano, President, American Chamber of Commerce in Hong Kong, discussed on business environment in Hong Kong and how U.S. companies are doing there. This event was jointly organized by the Hong Kong Association of Southern California and Hong Kong Economic & Trade Office, San Francisco, and supported by other trade organizations. (Full Story)

Return to Top


"Hong Kong: Turning China into Opportunity?by Peter Woo, HKTDC Chairman
(Los Angeles, March 27, 2006)

The pace of change in China is unprecedented in world markets. Long a major manufacturing center and exporter, China is now a chief importer with consumer demand growing at blistering pace. China is not a market to approach unprepared. Its size and complexity require a heightened level of commitment and a focused business entry strategy ?particularly for small and mid-sized enterprises. At a networking lunch held Monday, March 27, 2006 at the Omni Los Angeles hotel, Mr. Peter Woo, Chairman of the Hong Kong Trade Development Council (HKTDC) shared his vision on exploring opportunities in the mainland Chinese market using the Hong Kong business platform. (Full Story)

Return to Top


Mike Rowse Shares Inside Information on Hong Kong's Business Advantage (Newport Beach, Feb 23, 2006)

For the most accurate assessment of Hong Kong as Asia's business platform, who is more of an expert than the man who helped set up over 200 hundred foreign companies there just last year? Mike Rowse, Director-General of Invest Hong Kong, will tell you that regardless of the nature of your business, Hong Kong is the ideal hub for locating or expanding a regional base - and he will have the inside statistics to back it up. As part of a nationwide program promoting Hong Kong as the "Engine of Growth and Risk Manager for China," Rowse was the featured speaker at a complimentary luncheon held by the HKASC, in conjunction with the Hong Kong Economic and Trade Office in San Francisco, at the Marriott Newport Beach Hotel & Spa on February 23. (Full Story)

Return to Top


Hong Kong Logistics Linchpin of the 21st Century (Long Beach, Jan 2006)

With 28% of China's total international trade routed through Hong Kong, at a luncheon program in Long Beach, Ms. Sandra Lee, Permanent Secretary for Economic Development of the Government of the Hong Kong Special Administrative Region, presented the role of Hong Kong as an important logistics hub for China and the region as well as a key player in the global supply chain. (Full Story)

Return to Top


Online sourcing easier than ever

In April 2008, the Hong Kong Trade Development Council revamped its online sourcing platform at hktdc.com to boast advanced features and reinforcing its position as a powerful platform for hassle-free sourcing from quality suppliers. Some of the latest additions include: a more powerful search engine providing precise product search, enhanced descriptions for suppliers and products, an instant messaging service for buyers to enjoy immediate customer service online, credible supplier reference information providing third-party checks and facts, in addition to better navigation, a user-friendly design and a fresh new look and feel. Check it out today at http://www.hktdc.com/.


HKTDC Customized Business Matching Service

Meeting the needs of companies eager to explore the fast-growing China market, the Hong Kong Trade Development Council (HKTDC) is providing the "Premier Connect" - a customized business matching service provided by a team of experienced specialists and backed by an extensive database of 620,000 business contacts worldwide.

With this service, HKTDC's team of specialists can perform individual research and recommend up to three pre-screened matching Hong Kong partners per enquiry along with full contact information, company profiles, reasons for selection, any additional market information, all in a customized report. Hong Kong partners may include suppliers, agents, distributors, sales representatives, buyers, licensing or joint-venture partners, and other strategic business partners in Hong Kong and in the Chinese mainland through Hong Kong.

For additional information, please visit http://info.hktdc.com/abouttdc/businessmatching.htm, or talk to a Business Matching expert in Los Angeles by phone 1-213-622-3194 x 211 or by email.

Return to Top


Member Feature - June 2009

FIRM: Trader Pick

"We are an independent market analysis, services to investors who seeks investment opportunities"

CONTACT:
Andy Gouw BA, CTA
Fund Manager
Trader Pick
916 North First Street, Suite E
Alhambra, CA 91801
Phone: 626-731-1098
Email: support@traderpick.com

Member Feature - September 2008

FIRM: Marketing & Management Consulting

IN BRIEF: MARKETING & MANAGEMENT CONSULTING is an international, marketing consulting firm assisting companies and entrepreneurs in developing new products and taking these products to market. The company focuses on developing and executing aggressive marketing programs in a variety of industries, including Technology, E-commerce, Consumer Products & Services, Industrial Manufacturing and Packaged Food Products.

Marketing & Management Consulting provides less than full-time and interim marketing personnel to support and supplement an organization's marketing staff. Its experienced team of senior marketing executives, product managers and other creative personnel can quickly step-in to assist the on-site marketing team to meet important deadlines and implement strategic marketing programs.

AREAS OF EXPERTISE: (Click here to view complete company profile)

  • Branding & Positioning
  • Internet & E-Commerce Marketing
  • Start Up & Strategic Business Planning
  • Product Marketing . Product Development
  • Advertising . Promotions . Trade Show Development
  • Competitive Analysis . Marketing Analysis . Public Relations

CONTACT:
Lawrence Kirsch
Marketing & Management Consulting

2792 Southampton Road
Carlsbad, CA 92010
Phone: 760-845-1633
Email: Larry@LawrenceKirsch.com
www.LawrenceKirsch.com

Member Feature - August 2008

FIRM: THE ROBERTS COMPANY, LLC

IN BRIEF: THE ROBERTS COMPANY, LLC specializes in the regulatory compliance, risk management services, accounting, operations and information technology practices, fraud prevention and detection programs, and Corporate Governance. They help clients to align internal controls and technology in support of their client business. They apply practices in identifying and managing the risks as part of an active approach towards innovative solutions of complex business issues and compliance.

In addition, THE ROBERTS COMPANY, LLC introduces a computerized approach to interrogate business transactions and identify data patterns associated with fraud situations, external and internal audits, litigation cases and regularity compliance requirements.

DOMESTIC SERVICES: (Click here to view complete line of services in PDF format, 65KB)

  • Sarbanes-Oxley Compliance Services
  • Regulatory Compliance Services
  • Information Technology Services
  • Fraud Deterrence Services

CONTACT:
Robert Putrus, PE, CMC, CFE
THE ROBERTS COMPANY, LLC
3394 Holly Oak Lane
Escondido, CA 92027
Tel: 760.550.2160
Fax: 760.839.2160
robertputrus@therobertsglobal.com
http://www.therobertsglobal.com/


Lee Kum Kee Celebrates 120-Year Heritage of Excellence
with a New Production Plant in Los Angeles


LKK celebrates its 120th Anniversary: from left: Mr. Cletus Lau, Corporate Director - Corporate Affairs; Dr. Stephen Lui, CEO; Mr. Man Tat Lee, Group Chairman; Mr. Eddy Lee, Chairman; Ms. Winnie W. Huang, President, Americas.

Lee Kum Kee is a globally recognized leader in the production of high-quality Asian sauces and other food products. We have a 120-year heritage of excellence and innovation, beginning with our invention of oyster flavored sauce in 1888. Lee Kum Kee has grown from a small family company into an international corporation, and its product range has expanded from oyster flavored sauce to encompass a wide variety of gourmet sauces and condiments such as soy sauce, chicken bouillon and chili sauce. Today, the company distribution network spans over 80 countries in 5 continents.

Recently, Lee Kum Kee opened a new plant to accommodate the growing needs of customers in North, South and Central America. The new plant is an expansion to our already well-equipped modern manufacturing headquarters in Los Angeles. The new 100,000 square foot plant will double the previous size and capacity. The new and improved equipment and production methods ensure the delivery of the highest quality goods throughout the process, from raw materials, preparation and processing to finished food products. (Full Story)


Six Decades of Cathay Pacific History Displayed at New SFO Airport Museum Exhibition

The origins and development of Cathay Pacific Airways are commemorated in a new museum exhibition exploring the airline¡¦s sixty-plus years of history. Presented by San Francisco Airport Museums, Cathay Pacific Airways: Six Decades of Service is on view from April 16 to September 5, 2008 in the San Francisco Airport Commission Aviation Library and Louis A. Turpen Aviation Museum at San Francisco International Airport.

The story of Cathay Pacific¡¦s growth from a small, Hong Kong-based regional airline in 1946 to its current status as a major international carrier with 120 destinations¡Xand a reputation for impeccable passenger service¡Xis traced through the artifacts chosen for the exhibition. Over sixty-five historic photographs, examples of printed materials, and three-dimensional objects are featured. Cathay Pacific¡¦s fleet history is portrayed in fifteen highly-detailed scale model aircraft from the Douglas DC-3 and Boeing jetliners to the Airbus A340. Flight attendant uniforms representing six decades of fashion capture the airline¡¦s distinct style, while its commitment to elegance and exceptional cuisine is evident in the fine china and silver meal service wares created for specialized menus that are on display. (Full Story)

Member Feature - July 2008

Outstanding Individual Members

Karen Han is an internationally renowned Erhu virtuoso who has performed with the Hollywood Bowl Orchestra, The Los Angeles Philharmonic and other prestigious orchestras worldwide. Karen Han's playing may be heard on the soundtracks for the Joy Luck Club, Passion of the Christ, Mulan II, Anna and the King, The Last Emperor, Memoirs of a Geisha and Kung Fu Panda.

The ancient two-stringed instrument, Erhu, is soulful, expressive of feelings and very close to a woman voice. With Erhu, Karen Han transforms music into love, peace and beauty in life.

To hear a sample of her music, to find out her latest activities or to learn more about Karen Han, please visit http://www.karenhan.com.


Dr. David Young, author of Special Organization, was accredited with a PhD degree specializing in Sino-US relations by the University of Peking in 2005. Prior to his retirement, he was a successful entrepreneur in Hong Kong with offices in Hong Kong and Los Angeles as well as a factory in the Guangdong province in China. He and his family moved to the United States in the 1970s to realize his dream which became true when he graduated from the California Polytechnic University in 1994. With special permission of the Education Department of the People's Republic of China in 2000, he was also admitted into the History School of the University of Peking to pursue for his PhD degree at the age of 65. (At that time, the upper limit of admission age to any PhD program in China was 45, and 55 for recognized scholars.)

Dr. Young's latest book, Special Organization, focuses on the normalization of relationship between China and the U.S.A. The book is not available for sale in the U.S.A. but it will be available in the Los Angeles Public Library in August under call no. Ch 327.73051 Y22.

Member Feature - December 2007

FIRM: Los Angeles Business TV

Los Angeles Business TV is a business resource portal for small to medium size businesses.

Los Angeles Business TV is delivered right to your computer. It's a comprehensive business resource on the Internet.

Los Angeles Business TV features a series of weekly and updated interviews with businesses promoting and talking about what the business has to offer, point of difference from other similar businesses, the history of the business from the beginning to now and the plans for the future.

In other words we discover the success stories that fail to make mainstream media and introduce them to the business community.

The program.

  • Los Angeles Business TV is filmed on location with a visually enhancing backdrop. Whether it's in a busy public place or a scenic and exhilarating location, the interview is not only informative but also entertaining.
  • This week's Los Angeles Business TV was filmed at three locations - 3rd Street Promenade in Santa Monica, Marina Del Rey and at the Los Angeles Convention Center providing the backdrop for exciting interviews and an entertaining program.

The benefits.

  • The guest is interviewed on Los Angeles Business TV. Each guest receives a DVD and downloadable file of the interview to be used for their own purposes.

Who sees it?

  • Besides optimization of the site, we will partner with business organizations to use Los Angeles Business TV as a service for their customers and members.

Who is behind Los Angeles Business TV.

  • We are a multimedia broadcasting company producing quality business programs that are accessed via the internet and reach a large business audience throughout the US and Asia Pacific region. Please visit www.businessnowasiapacific.com and www.franchisebusinessnow.com

The cost.

  • There is a once only introductory fee of $1095.00

CONTACT: For more information simply contact us at info@businessnowasiapacific.com

Member Feature - September 2007

FIRM: Chan Law Group

IN BRIEF: Based in Los Angeles , Chan Law Group is an intellectual property and business law firm representing leaders in industry, science, and technology throughout the United States , China and the international community.

DOMESTIC SERVICES: The firm¡¦s highly experienced and effective attorneys specialize in the following practice areas:

  • Patent
  • Copyright
  • Trademark
  • Trade secret
  • Business transactions
  • Corporate formation
  • China trade
  • eCommerce
  • Science and technology
  • Litigation

HONG KONG / CHINA CONNECTION: Founder and chairman Thomas T. Chan was lead counsel for the first Sino-US PC software joint venture, and his precedent-setting work in intellectual property law, China trade, encryption software decontrol, and litigation has been widely documented by the international news media. A frequent lecturer and commentator in the media, academic and government arenas, Mr. Chan is an expert on complex litigation, legal strategy, negotiation, and strategic business transactions, particularly involving intellectual property and international trade.

CONTACT: For additional information on Chan Law Group, please call (213)-624-6560 or visit http://www.chanlaw.com.

FIRM: Procopio, Cory, Hargreaves & Savitch LLP

IN BRIEF: One of San Diego's oldest and largest full service law firms, Procopio, Cory, Hargreaves & Savitch LLP provides comprehensive legal services and specializes in the region's most important business sectors for a range of local, national and international clientele.

The firm's extensive team of legal professionals specialize in the following practice areas:

  • Technology
  • Corporate and Securities
  • Intellectual Property
  • Asia - The Emerging Market
  • Civil and Commercial Litigation
  • Tax and Financial Services
  • Construction and Real Estate
  • Environmental
  • Hospitality
  • Employment
  • Insolvency
  • Trusts and Estates
  • Appellate

HONG KONG / CHINA CONNECTION: Attorney and partner Kam W. Li counsels a wide range of U.S. and international clients on intellectual property strategies, patent, trademark and copyright protection , enforcement and licensing, joint venture, and deployment of intellectual capital and strategic partnering relationship. Mr. Li appears frequently as a guest speaker at professional conferences on intellectual property, international transactions and technology deployment issues and doing business in the Greater China region. Mr. Li is the Senior Overseas Counsel for the IT Committee of the Shanghai Bar and regularly lectures on law and China business.

CONTACT: For additional information on Procopio, Cory, Hargreaves &
Savitch LLP, please contact Kam W. Li at (619) 515-3253, or
kwl@procopio.com; or view Mr. Li's profile at
http://www.procopio.com/profiles/attorney_detail.cfm?id=35.

Member Feature - June/July 2007

FIRM: Allied Intrade

Allied Intrade is an OEM Manufacturers' Liaison since 1986 assisting U.S. companies with outsourcing of precision plastic, metal parts and assemblies to pre-qualified factories in China. Capabilities: CNC machining, die-casting, sheet metal fabrication, waterproof enclosures (IP65), plastic and magnesium injection molding, subassemblies and turnkey. Markets
served: automotive, aerospace, industrial, telecommunication, sensor and medical.

CONTACT:
Allied Intrade Inc.
1535 Grand Avenue Ste B
San Marcos, CA 92078
Tel: 760 - 591 - 0188
Fax: 760 - 591 - 4090
Web: http://www.alliedintrade.com/

FIRM: City of Riverside - Economic Development Department

IN BRIEF: Riverside leads the Inland Empire region in virtually every economic indicator, including population, number of jobs and businesses, amount of office space, taxable sales, assessed valuation, and bank deposits. The Inland Empire, composed of Riverside and San Bernardino Counties, is largely recognized as the fastest growing region in California and the second fastest growing region in the nation. The City of Riverside's Economic Development Department is committed to stimulating the local economy through the attraction, retention and expansion of businesses in the community.

DOMESTIC SERVICES:To achieve this goal, Economic Development staff works aggressively to attract to Riverside high quality firms that provide well-paying jobs for city residents and increase the city's sales tax revenue. Additionally, the staff assists with the growth and expansion of local companies by connecting them with vital resources and potential foreign trading partners.

HONG KONG / CHINA CONNECTION: The City of Riverside has historically held a sister-city relationship with Jiangmen, China based on political and cultural exchange, and the past few years have seen the growing development of economic ties through an active International Trade program that encourages local businesses to seek import and export opportunities with foreign enterprises. The City annually hosts two to three trade missions from China with the intent of opening new business markets/opportunities for Riverside companies.

CONTACT: For additional information on the City of Riverside's Economic Development Department, please contact Nathan Freeman at (951) 534-7446, (951) 826-5744, or nfreeman@riversideca.gov; or visit www.riversideca.gov/devdept.

FIRM: Super Growth International Inc.

IN BRIEF: Specializing in superior quality vitamins, minerals, herbs, nutritional and dietary supplements, skin care, personal care and specialty products, Super Growth International Inc.¡¦s products are sold worldwide. Super Growth¡¦s team of experts specializes in the research, development and formulation of high-tech nutraceutical, cosmeceutical and specialty products that cater internationally to client needs and market demands.

SERVICES:

Apart from its Super Growth and other brand products, the company provides:

  • Private label packaging or bulk orders to cater to different needs
  • Specialized product formulation in consideration of health disorders or skin care problems
  • Product formulation in conjunction with customers¡¦ own formulas
  • Professional health and beauty counseling
  • Selective manufacturer¡¦s representation and trading services for the development and marketing of customer products

CONTACT: For additional information on Super Growth International Inc., please contact Paul Owen at (626) 369-8681 or info@supergrowth.com, or visit http://www.supergrowthusa.com/index.php.


Member Feature - May 2007

FIRM: CB Richard Ellis Group, Inc. (CBRE)

IN BRIEF: A Fortune 1000 commercial real estate services firm headquartered in Los Angeles, CBRE serves real estate owners, investors and occupiers through more than 350 offices worldwide. Its China Desk division provides advice and service execution for Chinese-owned companies entering the U.S. market and American companies navigating the often complicated market of greater China

DOMESTIC SERVICES:

  • CBRE | Melody firm - comprises capital market advisors who provide debt and equity financing strategies for all property types throughout North America
  • Private Equity Capital Advisory practice - designed to facilitate solutions for under-capitalized or undervalued middle-market NA businesses and work with partner investors for middle-market business re-vitalization
  • Valuation & Advisory Services group - employs state-of-the-art technology for prompt valuations turnaround; Cost Segregation Group conducts non-intrusive studies measuring commercial building values.

HONG KONG / CHINA CONNECTION: Headed by Alice Yip, the CBRE China Desk was established to meet the growing need for sophisticated real estate services for Chinese-owned firms in the U.S. and U.S. firms abroad. Experts along its extensive service line guide clients toward a smooth transition into a different market by identifying and limiting exposure to potentially costly real estate decisions.

CONTACT: For additional information on CBRE, its investment-related services and the China Desk, please contact Alice Yip at (310) 516-2431 or alice.yip@cbre.com, or visit www.cbre.com/alice.yip.

FIRM: Silver Oak Wealth Advisors, LLC

IN BRIEF: Serving as personal financial strategist to high-net-worth families, Silver Oak Wealth Advisors LLC provides independent and objective advice on all decisions affecting the preservation and enjoyment of wealth. Its fee-only business model is designed to be free of conflicts of interest and to focus on creating value in professional client relationships. President Joel Framson has been continually recognized by Worth magazine as one of the nation¡¦s top 100 wealth advisors.

DOMESTIC SERVICES:

  • Investment Management
  • Family Wealth Coordination
  • Retirement Planning
  • Income and Estate Tax Planning
  • Life Transitions and Planning
  • Insurance/Risk Management
  • Business Counseling

HONG KONG / CHINA CONNECTION: With language capabilities and a cultural understanding of the Hong Kong/China community, Silver Oak seeks to deliver total wealth management solutions for individual clients, allowing them to focus on their core business or personal lives with greater security and peace of mind.

CONTACT: For additional information on Silver Oak and its services, please contact Vice President Linda Cao at (310) 443-0220 or lcao@silveroakwa.com, or visit www.silveroakwa.com.

FIRM: Prague Street Advisers

IN BRIEF: Providing investment advising and financial planning for individuals and small businesses, Prague Street Advisers specializes in issues facing expatriates.

DOMESTIC SERVICES:

  • Investment Advice
  • Financial Planning
  • Asset Allocation
  • Investment Management
  • Accounts and Plans Setup
  • Tax and Estate Planning

HONG KONG / CHINA CONNECTION: Emphasis on services for expatriates, Americans living overseas or Chinese in the U.S. The firm is aware of the issues facing customers with assets in the new and old worlds.

CONTACT: For additional information on Prague Street Advisers and its services, please contact Principal Jonathan Gat at (323) 852 6139 or jgat@praguestreetadvisers.com, or visit www.praguestreetadvisers.com.

FIRM: Comerica Bank

IN BRIEF:A subsidiary of Comerica Incorporated, Comerica Bank is a Fortune 500 financial services company strategically aligned into three major business segments: the Business Bank, the Retail Bank, and Wealth & Institutional Management. Comerica provides a full array of banking services that assist U.S. companies domestically and internationally.

DOMESTIC SERVICES:

  • Business Bank - provides companies with a complete spectrum of credit and non-credit financial products and services including cash management, trust and international trade.
  • Retail Bank - delivers personalized financial products and services to consumers, entrepreneurs and small businesses through banking centers, Web banking, telephone banking and ATMs.
  • Wealth and Institutional Management - serves affluent clients, foundations and corporations through Private Banking, Comerica Securities, Comerica Insurance, Personal Trust, Strategic Alliances, Institutional Trust, Retirement Services, Comerica Asset Management, World Asset Management and Wilson Kemp.

HONG KONG / CHINA CONNECTION: Comerica Bank's Shanghai representative office provides concierge-type services for U.S. businesses interested in doing business in China, its International Finance division provides banking services to foreign-owned companies conducting business in the U.S., and its International Trade Finance group provides letters of credit services.

CONTACT:

  • Commercial banking services: Mark Campbell at (562) 463-6515 or Julie Yen at (562) 463-6518
  • Shanghai representative office: Helen Huang at 21-5882-6980 or helen_huang@comerica.com
  • International Finance division: Hank Miller at (714) 433-3229 or Grace Li at (562) 463-6517.
  • International Trade Finance group: Glenn Colville at (925) 941-1931 or Peter Knudsen at (310) 297-2849.
FIRM: The Commercial Finance Group (CFG)

IN BRIEF: Providing cash flow services to small businesses with annual sales ranging from $120,000 to $25 million, CFG offers flexible underwriting standards and work in conjunction with banks to strengthen banking relationships and build "bankability." Typical clients include start-ups, companies with negative or minimal net worth, business that may be experiencing tax or bankruptcy issues, or that may have been turned down for traditional bank financing.

DOMESTIC SERVICES:

  • PrimeLine - a prime-rate-plus cash-flow financing product for qualifying companies.
  • Accounts Receivable Financing - customized A/R Financing or Factoring programs.
  • Accounts Receivable Management - works in conjunction with a bank's line of credit and offers an effective, professional and timely service through which the bank can monitor and control their collateral position.
  • Non-Notification Financing - A/R Financing & Factoring facilities provide confidentiality in customer communication.

HONG KONG / CHINA CONNECTION: CFG has offices throughout the U.S., Canada, Europe, and Australia offering customized cash flow solutions, A/R management supported by 24/7 real time online reporting, emailable updates, accounts receivable management and ongoing debtor credit evaluation.

CONTACT: For additional information on the Commercial Finance Group and its services, please call Terry Gubatan at (818) 288-5088 or visit www.cfgroup.net/.

FIRM: Janas Associates

IN BRIEF: Founded in 1989, Janas Associates is a firm of dedicated professionals who bring financial and managerial value to middle market companies and divisions of major companies through mergers and acquisitions, corporate finance and management consulting.

DOMESTIC SERVICES:

  • Mergers and acquisitions - Sale of businesses, merger and buy side acquisitions, rollup strategies and implementation.
  • Corporate finance - Institutional equity sourcing, financial structuring and loan sourcing and structuring.
  • Management consulting - Enterprise value estimates, acquisition and exit strategies, growth by acquisition planning.
  • Consulting support ¡V Company acquisition and sales, management buy-out plans, growth by acquisition plans, expansion or working capital acquisition.

HONG KONG / CHINA CONNECTION: Janas Associates works via strategic alliances to offer similar services to firms in Hong Kong, mainland China and Asia Pacific countries.

CONTACT: For additional information on Janas Associates and its services, please contact Asia Pacific Chairman Kern Kwong at (626) 432-7000 or kk@janascorp.com, or visit www.janascorp.com.

FIRM: Morgan Stanley

IN BRIEF: Founded in 1935, financial services company Morgan Stanley serves corporations, governments, financial institutions, and individuals through its subsidiaries and affiliates worldwide. The company has a strategic alliance with Avenue Capital Group and operates in four segments: Institutional Securities, Global Wealth Management Group, Asset Management, and Discover.

DOMESTIC SERVICES:

  • Institutional Securities - capital raising, financial advisory services, corporate lending, sales, trading, financing and market-making activities.
  • Global Wealth Management Group - brokerage and investment advisory services covering various investment alternatives.
  • Asset Management - asset management products and services in equity, fixed income, and alternative investments and private equity.
  • Discover - credit cards and related consumer products and services, merchant and cash access network, ATM and electronic funds transfer network, and various consumer finance products and services.

HONG KONG / CHINA CONNECTION: With two representative offices in mainland China and an Asia Pacific regional office in Hong Kong, Morgan Stanley provides a wide range of services to both domestic and international clients.

CONTACT: For additional information on Morgan Stanley and its services, please contact Wealth Advisor Tracy Chen at (714) 990-5293 or tracy.chen@morganstanley.com, or visit www.morganstanley.com/index.html.


Beijing Olympic Float brings new inspirations to Rose Parade in Los Angeles

With generous contribution by Avery Dennison, HKASC Vice President Grace Chew on behalf of the Association and members of the Roundtable of Southern California Chinese American Organizations Founders Circle, the Beijing Olympic Float made an impressive appearance at the renowned Pasadena Tournament of Rose Parade on January 1, 2008. (Full Story)


Granting of Banking License to Cathay Bank (April 10, 2007)

The Hong Kong Monetary Authority announced that it has granted a banking license to Cathay Bank (CB) under the Banking Ordinance. The granting of this banking license took effect on April 4, 2007.

Cathay Bank is a California State-chartered bank and a wholly owned subsidiary of Cathay General Bancorp (Bancorp). According to the July 2006 issue of The Banker, Bancorp is the 116th largest banking group in the U.S. and the 680th largest banking group in the world in terms of total assets.

After the granting of a banking license to CB, the number of licensed banks in Hong Kong has increased to 138.

Founded in 1962, Cathay Bank is the first Chinese-American Commercial bank in Southern California with a network covering California, Washington, Texas, Massachusetts, and New York. Overseas, it has a presence in three important commercial centers in the Asia Pacific Rim - Taipei, Shanghai, and Hong Kong. With over $7 billion in assets, Cathay Bank is now one of the largest commercial banks headquarters in Southern California. Its personal and commercial services include a variety of deposit plans, financing services (trade, asset-based, real estate and construction), investment planning, and electronic banking.


World-class California Industrial City Underway in Zhengzhou

Industrial parks have been an integral part of China's economic boom of the past two decades, and the movement of industrialization in the mainland beyond the coastal economic region has propelled an increase in the development of industrial complexes in the interior. Planning for a state-of-the-art industrial park is under way in Henan, China's most populous province, and for the past few months, HKASC member Glenn Boggs has been working in connection with the project in the mainland. Currently in its planning stages, the "California Industrial City," as the industrial complex will be called, will create in Henan's capital of Zhengzhou what Boggs describes as a "world-class manufacturing and production development that sets the new standard for China and the world." (Full story)

Return to Top


Announcements

Return to Top


Click here to return to Current issues or read Past issues of the Hong Kong Focus Newsletter.

 

 


setstatssetstats