San Diego Mixer Highlights (September 2004)

Entrepreneurs and business professionals interested in tapping into the huge Chinese market were presented to a cohesive overview of how Hong Kong can make it easier at two recent events organized by the HKASC.

At the first networking mixer organized by the HKASC San Diego Committee, held September 16th in San Diego, Mr. Lawrence Tang, Deputy Director of Investment Promotion at the Hong Kong Economic and Trade Office in San Francisco presented the importance of Hong Kong's role as gateway to the Pearl River Delta (PRD), the stepping stone to the emerging China market.

Mr. Tang focused on Hong Kong's sophisticated, cosmopolitan range of services and its strategic location near the Pearl River Delta. As Mr. Tang pointed out, the PRD has become a significant economic powerhouse in the region, with a GDP of US$273 billion and a 29.2% share in all foreign investment capital flowing into China. 70% of investment in the PRD comes from Hong Kong. Pairing Hong Kong's strengths in the service sector with the PRD's manufacturing power is a potent combination for businesses.

With constant developments in Hong Kong being made on the infrastructure and technological fronts, in the form of projects such as the $2 billion Cyberport and $1.5 billion Science Park, and the implementation of Closer Economic Partnership Arrangement (CEPA) between China and Hong Kong, which allow 90% of exports from Hong Kong to enter China tariff-free as one of its benefits, the advantages of partnership with Hong Kong are clear.

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