Largest Japanese education company opens regional office in Hong Kong

Japan’s largest education company, Benesse Corporation, held the official opening of its regional office in Hong Kong today (16 February). The new Hong Kong office, Benesse Hong Kong Co Ltd, will develop, source and deliver education toys, tools and supplements to Benesse in Japan, and will act as the base for collecting information and explore business opportunities in the Mainland and other parts of Asia.

The Consul-General of Japan, The Honourable Jun Yokota, and the Director-General of Investment Promotion, Mr Mike Rowse attended today’s ceremony as officiating guests.
The Chief Operating Officer, Mr Masayoshi Morimoto, said, “Hong Kong is a natural choice for us. We aim to develop our education businesses in this market by sharing our experience and knowledge, and, at the same time, explore opportunities in the Mainland and other Asian markets. With Hong Kong’s world-class infrastructure and location in the centre of Asia, we will be able to grow in the region and react to the market and opportunities with flexibility.”

Established in 1955 and publicly listed on Osaka Stock Exchange in 1995 and Tokyo Stock Exchange in 2000, Benesse is the largest education corporation in Japan with a registered capital of HK$1 billion. The company employs over 1,700 staff in offices throughout Japan and overseas in Hong Kong, Shanghai, Taipei and Seoul.

Berlitz, a world-wide language education company, is one of Benesse’s subsidiary companies. Benesse Group’s products and services focus on education, language study, lifestyles and nursing care. Annual sales and operating income in 2003 reached HK$19 billion and HK$1.2 billion, respectively.

“We are confident that we have made the best decision in selecting Hong Kong for our regional office. Hong Kong’s proximity to the Mainland allows us to have easy access to real-time information from China. This is crucial to keep our suppliers producing the highest standard of goods for our customers in Japan. Together with our head office in Japan, Benesse Hong Kong will cooperate with our suppliers to develop new products for the Chinese and Japanese markets,” Mr Masayoshi Morimoto said.

The Director-General of Investment Promotion, Mike Rowse, welcomed Benesse Corporation’s expansion in Hong Kong. He said, “We are delighted that Benesse has chosen Hong Kong for its regional office. The company’s decision to establish its base here will enhance Hong Kong’s leading position as a sourcing and distribution hub for multinational corporations – as well as demonstrating Hong Kong’s distinct advantages as a springboard to access the rest of the Pearl River Delta.”

According to the company, its Hong Kong office will manage and maintain quality standards, as well as control expenditure of products manufactured in the Pearl River Delta.
“We hope that the company will have every success in Hong Kong and the region. In addition, Hong Kong is a knowledge-based international city in Asia that offers a wide variety of educational products and services. We look forward to Benesse bringing in its education tools and products to the local market here, further enriching our educational services sector,” Mr Rowse added.

Invest Hong Kong is the Hong Kong Special Administrative Region Government’s one-stop shop for overseas companies who are interested in establishing or expanding their presence here.

End/Monday, 16 February, 2004

Top IT company opens new regional headquarters in Hong Kong

EMC Corporation, a world leader in information storage and management, today announced the opening of its new regional headquarters in Hong Kong for its Asia Pacific/Japan operations.

"We are very confident in our choice of Hong Kong as our new regional headquarters," said the President for Asia Pacific and Japan of EMC, Mr Steve Fitz. "The economy is rebounding strongly. The strategic location of Hong Kong in the heart of the region and the infrastructure available here -- including telecommunications and a first class international airport -- will help us to stay close to the rest of the region, particularly China, one of our fastest growing markets."

The opening of the new regional headquarters boosts the number of EMC employees in Hong Kong to nearly 100 people.

“The developed infrastructure of Hong Kong, particularly in the area of telecommunications, provides IT companies like us a solid foundation to operate sophisticated business solutions. Also, Hong Kong’s skilled workforce, with its international exposure, is essential to our knowledge-based business,” Fitz commented.

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, said, "We have just finished our most successful year ever for investment promotion in Hong Kong, so this is a really great start to the Year of the Monkey. Having such a major player in the IT sector choose to set up its regional base in Hong Kong highlights how the city continues to move up the technology ladder. EMC’s strategic move is a strong endorsement of the role Hong Kong can play as a regional business hub."

Mr Rowse added, “Hong Kong’s proximity and the close ties with the Mainland make it the most attractive location for overseas companies to set up their regional bases to access the Mainland market. With the implementation of the ‘Mainland and Hong Kong Closer Economic Partnership Arrangement’ (CEPA) in January, we believe businesses in different sectors can capture new opportunities. And we look forward to seeing the continuous growth of information technology companies in Hong Kong in supporting the sustainable development of the other sectors.”

Invest Hong Kong is the Hong Kong Special Administrative Region Government’s one-stop shop for overseas companies who are interested in establishing or expanding their presence here.

End/Friday, 13 February, 2004

SAR takes lead in asset management

When OppenheimerFunds, a United States pension fund giant with more than US$150 billion (HK$1.17 trillion) assets under management, planned to expand overseas, it had three choices for its Asian headquarters - Taiwan, Singapore and Hong Kong.

Taiwan has a larger retail market while the Singaporean government offered more incentives. OppenheimerFunds picked Hong Kong.

"We came to Hong Kong first because English is more commonly used here than in Taiwan while the market is larger than Singapore's,'' said OppenheimerFunds (Asia) managing director Lavin Mok, the fund's first recruit in Asia.

There may have been another incentive - OppenheimerFunds is a subsidiary of Massachusetts Mutual Life Insurance Company, which is well established in the SAR.

OppenheimerFunds was just one of several overseas asset management firms that have moved into Hong Kong in the past couple of years.

They include Janus International, Pioneer Investments, WestAM, the fund management arm of Westdeutsche Landesbank Girozentrale and Bank One.

It may be an encouraging sign that Hong Kong could fulfil a role where it flopped in high technology - a regional, or even an international, centre.

HSBC's chairman John Bond is one of the believers. During a brief visit to Hong Kong in November, he told bankers in a private meeting that "when I think about the future of Hong Kong, my mind doesn't do the conventional analysis with Singapore or Shanghai; it tends to stray to Switzerland, which coincidentally has the same population as Hong Kong.'' (7.2 million against Hong Kong's 6.8 million).

Bond pointed out other similarities: living standards in both economies exceed those of their hinterlands, about half of the money supply is international currencies, both have a services-based economy and low tax regime and offer a business base to travel to the region.

Bond's notion seemed to have been picked up by Chief Executive Tung Chee-hwa, who said in his policy address last month that Hong Kong is "well-placed to further develop as an international financial services and asset management centre such as Switzerland''.

In the region, Singapore appears to be the major rival due to government incentives and lower costs. The Lion City, for example, grants profit tax concessions and a tax holiday as well as subsidies for salaries and staff training.

"The choice of where to locate a regional headquarters is a function of cost, infrastructure, opportunity and history. In the Asia-Pacific today, Hong Kong's key competitor is Singapore, based on its lower costs, active government support to the industry and readily available talent pool,'' Mahendran Nathan, senior vice president of SG Asset Management, which has its regional base in Singapore, said. "In the future, Shanghai may evolve as another party to this competition.''

So far, Hong Kong has a slight lead over Singapore.

Assets under management in Hong Kong totalled US$342 billion at the end of March last year and US$204 billion at the end of 2002 in Singapore. Hong Kong's authorised funds also outnumbered those in Singapore by 1,870 to 319, according to Matthew Harrison, senior vice-president of research and policy, corporate strategy at Hong Kong Exchanges and Clearing.

In a report last year, Harrison also voiced concern that the fund industry in Singapore is growing while Hong Kong's is shrinking.

"Although overall Hong Kong remains an attractive business environment for fund managers, more could be done in areas such as taxation,'' he said.

Realising its dwindling edge over the rival, the government has proposed to exempt profit tax on offshore funds, which will put it on par with Singapore. But analysts say there is much more it can do.

"The main challenge for Hong Kong is more about expanding and deepening its investment product range beyond the interbank markets and the obligatory purchase of US Treasury securities,'' a Goldman Sachs report said. ``We point to Hong Kong's efforts to develop an Asian bond market and asset-backed securities markets.''

That gap may be able to be filled by the proposed securitisation of government assets. Revenue from five tunnels and a bridge will be securitised this year, selling part of the notes to retail investors with the aim of promoting the debt market. It's only a part of the overall HK$112 billion asset sale programme it will launch over the next five years.

Also offering support for the asset management industry is the shifting of consumer demand from bank deposits given the low interest rate.

"Hong Kong people used to have a single style of investment, either they invest in property or put money in the bank and stocks. After the Asia financial crisis they found out they need some professionals too,'' John Cai, general manager at AXA China Region, which is spending HK$150 million over the next two years to train its agents in investment planning, said.

Asset managers said Hong Kong has another advantage - its proximity to the mainland, where citizens are becoming richer and seeking more investment opportunities.

Goldman Sachs estimates that Hong Kong has the world's highest level of excess bank deposits as a percentage of gross domestic product at 132.2 per cent, which is partly contributed to by wealth from greater China.

The Beijing government said this month that it will allow its US$15 billion National Social Security Fund to invest overseas and Hong Kong will be one of the beneficiaries.

"China is going to be a huge market. When the renminbi becomes convertible, Hong Kong is going to boom because of Chinese demand,'' Puru Saxena, president at individual financial adviser Bridgewater, said.

23 February 2004 / 02:20 AM

20.5m visitors expected in 2004

The tourism year has started well with visitor arrivals hitting 1.75 million in January, up 13.1% on the same month last year. The HK Tourism Board expects 20.5 million visitors this year, growing 31.8% on 2003.

The Mainland will continue to be the leading contributor, with 11.2 million arrivals, growing 31.7%. Arrivals from other markets will grow 32% to 9.3 million.
The forecast, made on the assumption outbound market conditions worldwide remain stable, represents a "cautiously optimistic" outlook, board Chairman Selina Chow said today.
While the global economic recovery has created a positive macro-environment, the market remains volatile in the short-term due to concerns about SARS and avian flu.

Mainland market to be developed further

The board's key aims for the year include: further developing the Mainland market and capitalising on the Individual Visit Scheme; enhancing visitors' experience through mega-events; proactively building support for the upcoming tourism infrastructure; and, strengthening co-operation with various sectors of the community to give visitors greater quality assurance, thereby reinforcing Hong Kong's position as the world's premier destination.
As the Individual Visit Scheme will be extended to several Mainland cities, the board will develop new information dissemination channels to provide easier access to information.
Through the Quality Tourism Services Scheme, it will continue to improve the industry's service standards and ethical practices to offer greater quality assurance.

HK a destination for business and families

The board will continue to woo business travellers with conventions, exhibitions and corporate events, and cruise visitors.
Capitalising the increased business exchange with the Mainland through CEPA, the board will encourage business travellers to extend their stay and travel with their spouse and family, stimulating their activities and spending in Hong Kong.

The board will continue to push Hong Kong as a family destination, paving the way for the opening of HK Disneyland in 2005 and meeting the needs of family travellers.
The board will capitalise on last year's success and continue to organise a diverse array of mega-events in 2004, including the ever-popular Hong Kong Winterfest and Chinese New Year Parade.

Top telecom firm opens regional HQ in HK

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Well-positioned: Topcom Chief Executive Officer Stan Lowette (right), Consul General of Belgium Patrick Nijs (middle) and Topcom Asia office manager Vanden Bulcke at the opening ceremony of its regional headquarters here.

Leading European telecom company Topcom has opened its regional headquarters in Hong Kong.
It will oversee the Belgium-based company's logistics, product management, quality inspection and sales activities conducted by its representative offices in Shenzhen and Taipei.

Associate Director-General of Investment Promotion Mark Michelson said our developed infrastructure and communications network allow multinational companies like Topcom to operate smoothly here.
"Hong Kong is an ideal location to set up a regional or global base to manage operations for the Mainland and other target markets," he said.

A permanent place in Asia

At today's opening ceremony, Topcom Chief Executive Officer Stan Lowette said the company requires a more permanent presence in dealing with suppliers and customers in Asia.
"The Greater Pearl River delta offers an attractive location. It serves as the manufacturing centre for telecommunications, and also offers an excellent logistics, business and financial environment in Hong Kong. The pool of local talent allows us to establish seamless communication with our European headquarters," he said. "With our current focus on developing cordless telecommunication and wireless data communication products, Hong Kong is an optimal location for setting up our Asia-Pacific headquarters.
"Asia is an important market for our global business development strategy. We believe that with our new office in Hong Kong, we are well-positioned to grow our business in this dynamic city and in the rest of Asia."

Topcom is a leading European manufacturer of data and telecommunications products, with focus on the end-consumers market. It has subsidiaries in several European countries, including Denmark, Sweden and Norway and Germany, as well as independent sales offices in Austria and the Netherlands.
The company had a turnover of 60 million euros last year and expects to reach 75 million euro this year.

Japanese firm opens regional office in HK

Japan's top technology solutions provider ITX E-Globaledge Corporation has selected Hong Kong for its regional office to tap the huge market potential on the Mainland.
Operating as ITX E-Globaledge HK & China, the Hong Kong office will oversee business operations on the Mainland, including its representative office in Shanghai.

Acting Associate Director-General of Investment Promotion Simon Tsang said: "We are delighted to see another leading electronics company choosing Hong Kong to set up its regional office. This further strengthens the city's position as the international business hub of Asia.
"Given the benefits of doing business in Hong Kong, we anticipate more foreign companies will set up their regional operations here to access the Mainland and other Asian markets."

At today's opening ceremony, the company's president and chief executive officer Tomoaki Yokoyama said: "China is recognised as the future of the electronics industry, and it is clearly one of our key target markets. The new Hong Kong office will play an important role in our business development in China, especially in the South China region.
"Hong Kong provides us with an excellent environment to grow our business in the region, especially the Mainland. The availability of a pool of local talent with expertise in our IT industry and language capabilities - fluency in Japanese, English and Chinese - also made it more attractive for us to set up an office here. These unique offerings of Hong Kong cannot be matched by other Asian markets."

US firms share insights into China business ( 26/02/2004 )

Four US companies have offered advice on doing business in Hong Kong and China via webcasts, as part of a joint project between TDC and the US Consulate in Hong Kong.

Through a series of webcast interviews with prominent US businesses present in Hong Kong, practical examples demonstrate how Hong Kong helps reduce risk and achieve stronger business results, for companies doing business on the Chinese mainland.
The webcasts have been distributed as CDs throughout the US business community. They can also be viewed on tdctrade.com here.

"Hong Kong is really the diamond in Asia as far as the centre of business is concerned. So when you speak Asia, you're really talking Hong Kong," commented Rob Wilson, executive vice-president of Markwins International.
On the distribution side, Hong Kong offers a great deal to companies looking to capture a share of the mainland's growing markets. Agricultural equipment company, Vermeer Manufacturing, found Hong Kong the best base from which to carry out its Asia and China distribution strategy.

Regional sales manager, Todd Judy, enthused, "We've been very impressed with our dealer in Hong Kong. For the past 3 years, they've been our number one international dealer for Vermeer Manufacturing worldwide. We've been very impressed with their professionalism, and organisation and the network they've set up throughout China."

Hong Kong's status as a regional logistics hub has also been a considerable attraction to companies who produce or sell in the Asia-Pacific region, including the Chinese mainland.

Andrew Warrender, Associate at W L Gore & Associates, sees Hong Kong as being of strategic importance to their business.

"Hong Kong has an incredibly well-developed infrastructure, in terms of air, and sea transport in particular, with frequent connections between the areas that we service, and between our customers' domestic premises in Europe, and North America. And that is a critical part of our business decision-making process, to be based here and also have our facility in Shenzhen," he said.

In addition to a cutting-edge advantage in logistics and distribution, Hong Kong is an important financial centre for companies seeking to raise capital, both in debt and equity markets.

Tony Tong, CEO of Pacific Net Inc. noted that Hong Kong housed a lot of wealthy individuals and corporate investors, which made raising finance an easy task.

"All the leading investment banks, and venture capital firms, have offices in Hong Kong, so we think there's a wide selection of investors in Hong Kong," said Mr Tong.

All the US companies interviewed see their long-term prospects as being decidedly positive.

WL Gore has enjoyed very strong growth rates in the last few years in this region. And as Mr Warrender projects, "we're certainly expecting that trend to continue and we expect to be many times larger than we presently are in this region."

Starck drawn back to sophisticated 'city of life' ( 26/02/2004 )

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Designer Philippe Starck has finished his second signature project in Hong Kong - a boutique hotel for style savvy executives

Hong Kong is home to the first Asian boutique hotel styled by French master of design Philippe Starck. The world-renowned designer, known as "the quintessential designer of contemporary style" who earlier left his mark on Hong Kong by designing Felix restaurant at The Peninsula hotel, says he is thrilled to be back.

"I love Hong Kong, it has so much life," declared Mr Starck on the opening of Jia apartments in Causeway Bay. "It is bursting with energy and colour, and I particularly love the way it is so cosmopolitan. The Peninsula was an amazing hotel to be involved in, and I am very excited by the prospect of getting involved once again with Jia, a project of the same calibre."

Jia is a collaborative project between London-based development company Yoo - a partnership between Philippe Starck and John Hitchcox, one of Europe's most creative property developers - and Hong Kong developer PC Asia.

First choice in Asia

Previous Yoo projects include prestigious residential developments in London, Tel Aviv, Miami, Sydney, Melbourne, Buenos Aires, and Madrid. Mr Starck has also designed some of the world's leading establishments, among them the Royalton and Paramount hotels in New York, French President Francois Mitterand's Elysee Palace in Paris, the Manin in Tokyo, and Teatriz in Madrid.

Mr Starck said Hong Kong was the perfect choice for Yoo to develop its first boutique hotel in Asia. "The sophistication of the consumers who are drawn to the Hong Kong market makes an ideal match for the high quality ambience and design that will be created by this unique product," he said.

The cosmopolitan nature of Hong Kong also factored highly in the decision, cemented by "a great partnership with PC Asia".
Mr Starck said having a Hong Kong partner helped ensure a smooth implementation of the project.

Local partner a vital asset

"Their local knowledge has been the key strength behind our relationship. PC Asia really knows its customers and the market. This has complemented our many years of expertise in the housing market, creating a very formidable partnership."

Jia comprises 57 hotel apartments, presented as a showcase of sleek, modern Starck design featuring handpicked furnishings and fittings. The interior focuses on spatial clarity, comfort and style, with superior executive amenities such as top of the range audio/visual equipment, surround sound home theatre unit, a fully equipped marble kitchen and ultra-chic bathroom.

Guests also have use of a conference room, cafe and rooftop Jacuzzi, a valet laundry service and free use of the nearby California Fitness gym. Daily, weekly and monthly rates are available.

'Can do' attitude good for business, says global financial firm ( 26/02/2004 )

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James Campion, regional head of mutual funds at Schroders, says Hong Kong's open and competitive market offers tremendous choice for investors

For London-based fund manager Schroders Investment Management the business-friendly environment here has enabled Hong Kong to serve as a test-bed for the company's products launched elsewhere in Asia.

For 33 years the investment house has had an office in the SAR that is now the base for all its North East Asian operations, barring Japan.
"Geographically, it is more convenient to fly from Hong Kong to Taiwan in one hour, for example, than it is to attempt this from Singapore," explains James Campion, regional head of mutual funds.

" If I book a ticket with an airline I get a fax confirming it by the time I put the phone down. It's the same in every line of business."
"The place has a 'can do' attitude. People are able to innovate, to create new ideas, in a way that is unique in Asia. It is dynamic in a way that is well known to anybody who's been here."
"And this is probably the most open market in the world, which is good from an investors' standpoint. It results in an incredibly competitive market and tremendous choice for investors. There is a phenomenal number of fund houses in Hong Kong per head of the population."

Superb regulatory environment

The guaranteed funds his company pioneered were tried out first in Hong Kong he says.
"In Hong Kong it was easy to conduct market research and get dialogue with the key distributors. This gave us the ability and confidence to launch similar funds in Taiwan and Korea."
"Investors here are very sophisticated. One example of the Hong Kong advantage is the growing interest in hedge funds," says Mr Campion. "Again, the extent to which different currencies are traded is probably greater than anywhere else."

"People understand global economic developments and their impact. I have been surprised at seminars by the depth of questions asked."
"The regulatory environment is superb. The regulators are faster and more efficient than any internal compliance mechanism that I know. They don't try to slow you down as they are as keen as you are to develop the market."
Mr Campion speaks highly also of the "high-quality management" one finds in Hong Kong. "They are well educated. There is an outstanding level of corporate transparency."

As for access to cash, "liquidity here is much better than in many other markets in Asia. Outside Hong Kong, market capitalisation is small with so many companies family-owned that less shares are available for trading."
Schroders' success in the SAR has attracted other investment houses here, Mr Campion believes.
"News of our success is global. I get phone calls all the time from other international fund managers interested in coming to Hong Kong. Hong Kong is a place where things happen."

R&D expertise builds brand globally ( 26/02/2004 )

Hong Kong's sophisticated R&D capabilities are helping local company Titanium Technology become a global leader in the biometrics industry.

The company's expertise in face recognition technology puts it at the cutting edge of the rapidly expanding digital identification and information security market. Titanium solutions have already been implemented at various high-security sites across the world, including the US, Japan, Australia and the Chinese mainland.

"Titanium is committed to sharing responsibility for protecting homeland security and implementing anti-terrorist strategies globally," chairman and CEO of Titanium Technology Group Johnny Ng said.
Our aim is to be a role model of R&D enterprise with real/core technology. We started with only a small capital investment but with the benefit of local technology talent, can continuously improve our capability to deliver innovative security solutions.
"At the same time, the company focus is to build our brand name globally through products proudly bearing the hallmark 'R&D in Hong Kong'."

International recognition

Titanium earned international kudos last year as a finalist in the security infrastructure category of PC Magazine's Best of Comdex Las Vegas 2003 Award. It received a Certificate of Merit for technological achievement in the Hong Kong Awards for Industry, and company head Dr Ng was named the American Chamber of Commerce Innovative Entrepreneur of the Year 2003.

Dr Ng said face recognition is expected to form a significant part of the global biometrics market - an industry estimated to be worth HK$4.7 billion (US$601 million) in 2003, and tipped to grow to nearly HK$31.4 billion (US$4.04 billion) in annual sales by 2007.

"Because of face recognition's unique ability to perform surveillance, as well as the fact that facial images are acquired as part of nearly every document and ID issuance process, face recognition stands to benefit from post 9/11 deployment decisions," he said.

"Face recognition technology is expected to grow rapidly as customers deploy it for criminal and civil identification applications, including surveillance and screening, in 2004."

In order to further build the Titanium brand, the company plans to partner with leading international players to distribute its products, and initiate collaborative research projects with major universities around the globe.

All the right ingredients to make it happen ( 26/02/2004 )

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Restaurateur Michelle Garnaut found Hong Kong "a dream" for fulfilling her business ambitions. Photo credit: Wm Patrick Cranley

Within a decade of opening her first restaurant in Hong Kong, Australian entrepreneur Michelle Garnaut had become the toast of the culinary press worldwide.

M at the Fringe, her original 1989 venture in Hong Kong's historic Ice House building, was critically acclaimed and several times voted "Best Restaurant in Hong Kong". M on the Bund in Shanghai, China, which followed in 1999, has earned a string of awards and unilateral praise including nomination as "one of the best restaurants on the planet" by prestigious Conde Nast Traveler Magazine.

When she moved beyond the kitchen to launch the 1930s Hollywood style Glamour Bar, also in Shanghai, in 2001, Ms Garnaut was hailed for reviving the elegant tradition of the cocktail hour. Now, as she prepares to open her third restaurant - this time in Guangzhou, Southern China - Ms Garnaut explains why Hong Kong was the best place to fulfill her entrepreneurial dream.

After arriving as a tourist in 1984, Ms Garnaut, a Melbourne-trained chef, decided to stay. She was soon taken on as second chef at celebrated Lan Kwai Fong restaurant Post '97.

Fantastic place for entrepreneurs

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The Hollywood-style Glamour Bar in Shanghai, Michelle's "bar for grown-ups", is a sophisticated salon for live entertainment. Photo credit: Wm Patrick Cranley

Ms Garnaut then started her own catering, cooking class and consultancy business. Her restaurant M at the Fringe was a natural progression.

"I started out with literally no money - just energy, an idea, and commitment," said Ms Garnaut, who was last year named joint winner of the American Chamber of Commerce Women of Influence 2003 Entrepreneur of the Year award.

"Hong Kong is a fantastic place for entrepreneurs, for a number of reasons. Firstly, it is not massively regulated - just enough so to ensure a good, trustworthy system.
"For setting up a company, Hong Kong is a dream. The government processes are simple and straightforward. People speak English, the forms are in English, and because of its colonial background there is this sameness in international trade.

"Another reason is that Hong Kong is a city that lives on its risk-taking. People are prepared to take risks; they are willing to back ventures. Hong Kong is also a very open place, and not restricted by social mores. It is a place where people are willing to try new things - and very different to some other countries, such as Australia, where the regulations are a nightmare.

So easy to do business

"The other great thing about Hong Kong is its tax structure. Taxes are low, so you get to keep most of what you earn, but most importantly they are also straightforward. The whole system is set up for ease of doing business - this has always been Hong Kong's raison d'etre, and continues to be so today."

Ms Garnaut, who has also lived and worked in mainland China, says that if starting over again today she would still choose to live in Hong Kong.
"Hong Kong has a Western standard of living - that's what it has always offered to people coming here from all over the world. It is not as polluted as cities in the mainland, and is much more varied, with so many beautiful natural attractions."

For anyone wanting to do business in China, Ms Garnaut says Hong Kong is still the ideal platform. Having a Hong Kong base has helped her understand the Chinese culture, and how important business relationships are.
"Hong Kong is a place where hard work pays off. I'm committed to working hard, and believe that I'm smart enough to make things work. Anyone who is passionate about what they do will find in Hong Kong all the factors to make it happen."

Top ladies fashion brand opens first Asian flagship store in Hong Kong

Hong Kong's sophisticated consumer market has once again successfully attracted a prominent foreign investor to set up operations in the city.

The first Asian flagship store of leading Belgian ladies fashion brand SCAPA opens today (March 9) in Hong Kong. Operated by Look (HK) Ltd., a subsidiary of Japan's leading ladies fashion manufacturer and wholesaler Look Inc., the new SCAPA shop in ifc Mall will be SCAPA's first flagship store in Asia. The store will offer ladies fashion items, accessories and bags.

Look (HK) Ltd, currently operates 10 shops under different fashion brands. Over the past 18 years, it has invested more than HK$20 million on developing its retail business in Hong Kong. With the new shop, the total number of staff will be increased to 40.

The President of Look Inc., Mr Shigeharu Tao, explained why the company has expanded its presence in Hong Kong. He said, "We believe that we have made the best decision in choosing Hong Kong. The city's sophistication in retail, distribution and management is the main attraction for us to set up a subsidiary here. We also are confident that our business can operate smoothly. In the next two years, we plan to open three more SCAPA shops in Hong Kong - in Causeway Bay, Central and on the Kowloon side."

"We also aim to expand our presence in the China market, which has enormous potential. With its location in the centre of Asia, our operation in Hong Kong will act as an important bridge to connect the business flow between Japan and China."

The Associate Director-General for Investment Promotion at Invest Hong Kong, Mr Simon Galpin, visited the new store at the ifc Mall and was delighted about Look Inc.'s increased investment in Hong Kong. He said, "As Asia's leading fashion centre and style capital, Hong Kong is an ideal place for retailers to build their brand awareness. The consumers here are very fashion conscious and receptive to new brands and products."

He added, "With the economy strengthening, the volume of retail sales has accelerated in the past few months. We believe that local consumer demand will continue to revive and lift retail sales. Inbound tourism, particularly the increased flow of Mainland visitors, also provides great opportunities for retailers like Look and SCAPA. They can showcase their products to this target customer group to build brand awareness, paving the way for future expansion into the China market."

Mr Galpin said, "We wish the company every success in the future, and look forward to more shop openings."

Ends/Tuesday, March 9, 2004

I'm reading the thread so don't let it stop!

Oh, I'm so busy with my schoolwork these days! But I will keep this thread alive, hehe. let's be patient! :happy:

CompTIA sets up regional centre in Hong Kong

The Computing Technology Industry Association (CompTIA), the largest global IT industry association, announced today the opening of its new regional headquarters in Hong Kong.The office – headed by former Standard Chartered Bank executive Michael Mudd – will primarily focus on expanding CompTIA's public policy outreach in the Asia Pacific region.

Headquartered just outside of Chicago, CompTIA develops standards and best practices, and influences the political, economic and educational arenas that impact IT globally. It is the world's largest provider of vendor-neutral information and communication technology (ICT) skills certifications.

CompTIA's public policy programme is directed from Washington, DC, and along with Hong Kong, has offices in Brussels, Belgium, Ottawa, Canada and Sao Paulo, Brazil. The public policy programme covers the full array of issues confronting today's ICT industry, representing the interests of CompTIA's 19,000 company members before legislatures, policymakers, courts, and the media across the globe.

Establishing an office in Hong Kong reflects the growing maturity and importance of the region to the ICT industry. “Over the past three years, we’ve seen significant government involvement in the ICT world – especially so in Asia-Pac,” noted Mr Robert Kramer, CompTIA's Vice President of Global Public Policy. “To better serve governments eager to work with and understand the ICT industry, Hong Kong is the logical launching pad to access decision-makers throughout the region.”

Development of ICT skills in the workforce, protection of intellectual property, and Internet governance will figure prominently in CompTIA's activities in the region. In addition, through the Initiative for Software Choice, it will work to help regional policymakers maintain merit-based choice in the selection process for their government software and hardware acquisitions.

Mr Michael Mudd, CompTIA's Director of Public Policy, Asia-Pacific explained why CompTIA was enlarging its presence here. He said, “The region is home to nearly 3 billion people, representing a tremendous and developing opportunity for CompTIA's members and the ICT industry. As governments and markets begin to grapple with the implications of the region's evolving ICT policies, we hope to shape some of those policies so they can best benefit all stakeholders.”

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, attended the opening ceremony and welcomed CompTIA to Hong Kong. He said, “We are delighted that CompTIA has chosen Hong Kong as a base for this region. Our location at the heart of Asia, free flow of information, excellent infrastructure and business-friendly government are among the attributes that have attracted business associations to make Hong Kong their regional hub.”

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here.

New tourist attractions coming soon

A host of new tourist attractions are in the pipeline, Secretary for Economic Development & Labour Stephen Ip says.
He told legislators today the Government has selected Tung Ping Chau and Plover Cove Reservoir as two pilot areas for developing eco-tourism. It is also considering developing the second phase of A Symphony of Lights, the popular harbour-front light show launched in January.
Another new attraction, the Avenue of Stars in Tsim Sha Tsui will open by end of this month.
He said the Government will soon invite private sector proposals to develop Central Police Station, Victoria Prison and the former Central Magistracy Compound into a heritage tourism attraction.

New attractions to open soon

The Hong Kong Disneyland project is progressing well and is on schedule to open next year. Phase 2 of the HK Wetland Park is scheduled to open at the end of 2005. The Tung Chung Cable Car System is also due to operate in early 2006. By 2007, the heritage hotel converted from the former Marine Police Headquarters will be in operation.
On cruise berthing facilities, the Government is reviewing the future development of Southeast Kowloon in the light of the court's judgment on reclamation in Victoria Harbour. Work is also in hand to identify a suitable site for berthing facilities to meet market demand.

After the SARS crisis last year, Mr Ip said the tourism industry recovered in the second half of the year. As a result, overall visitor arrivals in the year amounted to 15.5 million, still the second highest on record.

Avenue of Stars to open April 27

Hong Kong's very own movie 'walk of fame' is set to become our next major tourist draw when it opens on April 27.
Complementing the Tsim Sha Tsui waterfront, the Avenue of Stars will feature pavement plaques commemorating Hong Kong movie personalities, past and present.

Outlining the local film industry's 100-year history, it also features a welcoming video, sculptures and souvenir kiosks. Special lighting will make the atmosphere even more enchanting at night.
Tourism Board Executive Director Clara Chong said the Avenue of Stars caters to the huge interest in Hong Kong movies international film fans have developed over the decades.
Board staff will hand out Avenue of Stars information to tourists at the airport and immigration checkpoints. Tourists will also see themed decorations in various parts of the city, including the board's Visitor Information & Services Centres.

The board prepares the HK Movie Odyssey Guide featuring locations used for a number of famous Hong Kong film scenes, allowing visitors to explore the areas used for their favourite cinematic pieces.
The board has been working closely with the global travel trade to package and promote the avenue along with various movie-related activities. It will also collaborate with the trade to develop tour packages and arrange familiarisation visits for the trade and media.

HK, Singapore sign MOU on cultural exchange

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New milestone: Secretary for Home Affairs Dr Patrick Ho exchanges documents with Singapore's Minister for Information, Communications & the Arts Dr Lee Boon Yang at the signing ceremony.

Hong Kong and Singapore have signed a memorandum of understanding to foster active cultural and arts exchanges between the two cities.

The memorandum, signed today by Secretary for Home Affairs Dr Patrick Ho and Singapore's Minister for Information, Communications & the Arts Dr Lee Boon Yang, is another milestone in the warm relationship between the two places.
Dr Ho said the move will help inspire innovative ideas and bring long-term benefits to both places.
"We need cultural co-operation to foster a closer and more vibrant city alliance, one that provides ample room for mutual appreciation, improvement and cross-fertilisation. I am sure the one entered into by Singapore and Hong Kong today will pave the way for the realisation of this vision," he said.

The memorandum will provide a formal framework to further strengthen the current state of active cultural exchange, and promote co-operation in the fields of culture and the arts. Such co-operation will lead to mutual awareness, respect, understanding, harmony and friendship between the people of both places.
Both governments have started to explore the activities to be carried out. For a list of the possible co-operation initiatives

Int'l Arts Carnival to run July 14 to August 29

Some 400 performances, workshops, exhibitions, plus the school and outreach tour will feature in this year's International Arts Carnival from July 14 to August 29.
Organised by the Leisure & Cultural Services Department, the festival will see the Sadari Theatre Company from South Korea performing Journey of Hands July 29 and 30 at the Sai Wan Ho Civic Centre, and July 31 and August 1 at Sha Tin Town Hall.

Adapted from the famous Chinese history novel, Romance of Three Kingdoms, San Guo Zhi is a puppet drama produced by two of the most elite puppet groups in Japan and China - the Kageboushi Theatre Company and Chengdu Puppet Arts Theatre Company - running August 20 to 22 at Sha Tin Town Hall.
Japan's Stringraphy Ensemble will bring an extraordinary and delightful musical experience with the resourceful use of strings and cups, from July 30 to August 1 at the Cultural Centre.
Twinkle Twinkle Little Fish will be presented by Australia's Windmill Performing Arts Company. Combining puppetry, music and theatrical magic to present a joyful celebration of nature, the show runs August 5 to 8 at City Hall.

Local groups also to perform

The HK Ballet Group will present the classic Swan Lake from August 20 to 22 at Kwai Tsing Theatre.
The Jumbo Kids Theatre will present an interactive theatre show based on the Wizard of Oz on July 24 and 25 at Tai Po Civic Centre, from July 29 to August 3 at City Hall, and from August 6 to 8 at Tuen Mun Town Hall.
The International Arts Carnival also has tailor-made programmes for youths, such as theatre productions by Chung Ying Theatre, Shu Ning Presentation Unit, Prospect Theatre and BREAKTHROUGH.
Other performances will be announced in programme guides available from June 3. Counter bookings will start on June 4. Enquires can be made on 2370 1044.

Int'l prosecutors' regional conference set for HK


Hong Kong will host the International Association of Prosecutors' second Asia & Pacific Regional Conference, themed Dealing with Drug Offenders, from November 25 to 27.

Director of Public Prosecutions Grenville Cross said the conference reflects Hong Kong's prosecution standing at the international level.
"We recognised co-operation amongst prosecutors throughout the world was vital to the effective combat of transnational crime," he said.
"Transnational offending and cyber crime challenge us all. Prosecutors need to liaise more constructively with local enforcement agencies and with their counterparts in other places. Better law enforcement strategies have to be identified and pursued. We must apply vision, innovation and grit in order to succeed in the combat of organised crime."
Meanwhile, exchanges with the Mainland will continue to foster a better understanding of different systems and a deeper awareness of mutual problems in law enforcement, Mr Cross said. All of this is good for the successful operation of the One Country, Two Systems concept.

Document on safeguarding victim, witness interests out

Reviewing the Prosecutions Division's work today, Mr Cross also announced the release of the Statement on the Treatment of Victims & Witnesses, which shows how, as prosecutors, victims and witnesses should be treated, and the means by which prosecutors will safeguard their interests.
As a road map for prosecutors, the statement is designed to provide those involved in the criminal process with the best possible deal, and serves as a pact among prosecutors, victims and witnesses.
Mr Cross said the statement is part of the proposals made by one of the three committees established last year to improve the standards of criminal justice.

The committees have made recommendations in the following areas:

* promotion of the interests of victims of crime and witnesses;

* steps to be taken by prosecutors to avoid miscarriages of justice; and,

* preparation of a draft code of conduct for expert witnesses.

The recommendations are being considered and consultation is under way, Mr Cross said, adding that these initiatives will contribute to an improved legal system.

Court of Final Appeal cases up 450.6%

Turning to the division's caseloads, Mr Cross said the number of Court of Final Appeal cases processed and conducted between 1997 and 2003 far exceeded the number that proceeded to the Privy Council prior to reunification.
Between July 1997 and December last year, 446 cases were dealt with, a surge of 450.6% when compared with the 81 cases to the Privy Council between January 1991 and June 1997.
Last year the division served 210,055 prosecutions, and gave 16,820 issues of legal advice. Most of these were accepted without reservation by the community and attracted no adverse comment.
On briefing out cases, Mr Cross said despite budgetary constraints, it is beneficial to involve the private sector, and it contributes to a strong, experienced and independent Bar. Some 26.8% of cases and 49.3% of court days were briefed out to private lawyers last year.

Court prosecutor system cost-effective

Mr Cross said the existing court prosecutor system is cost-effective, and provides the community with a high quality service at the summary level.
Last year court prosecutors conducted 13,851 court days. If briefed out to private counsel, it would cost about $76.87 million, which is 80.23%, or $34.22 million, more than the $42.65 million cost of the court prosecutors.

Louis Vuitton selects Hong Kong as a strategic market for regional business

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Hong Kong’s leading position as an international centre for luxury fashion brands has been further strengthened. Louis Vuitton, one of the world’s top fashion brands, has selected Hong Kong as one of the four cities worldwide to host its 150th anniversary celebration.

The company said today (16 April) the decision was made based on the important leadership of Hong Kong in the global fashion and retail industry, as well as the company’s firm commitment to Hong Kong. Hong Kong will be joining Paris, New York and Tokyo as host cities.

The Director-General for Investment Promotion at Invest Hong Kong, Mr Mike Rowse, congratulated Louis Vuitton on its 150th anniversary.

The Chief Executive Officer and Chairman of Louis Vuitton and LVMH Fashion Group, Mr Yves Carcelle said, “Hong Kong is our Asia Pacific headquarters for 14 countries in the region. Its strategic location, its importance as a fashion capital in this part of the world, coupled with its efficient communications make it the perfect city for us do business.”

A member of the LVMH Fashion Group, Louis Vuitton has more flagship stores in Hong Kong than anywhere else, apart from its Paris headquarters and in Tokyo. The Louis Vuitton brand has been present in Hong Kong since 1979.

As a highlight of the celebration, 2,000 guests from Hong Kong and around the world have been invited to attend a party at the Tamar Site today. The guests include 85 journalists from the Asia Pacific region and Japan. In order to house 2,000 guests at the party, the company has arranged to build a large tent with materials and talents specially flown into Hong Kong.

According to Mr Carcelle, the company is proud to showcase its brand values to its sophisticated customers through the strategic platform in Hong Kong. He explained that the celebration represents a vote of confidence in the Hong Kong market, illustrated by its long-term and significant investment here.

Mr Patrick Vuitton, the fifth generation of the founding family; the Chief Executive Officer and Chairman of Louis Vuitton and LVMH Fashion Group, Mr Yves Carcelle; and the Managing Director of Louis Vuitton Malletier, Mr Serge Brunschwig, are visiting Hong Kong to join the celebration.

Mr Rowse welcomed the economic benefits brought by the long-term investment from international retailers like Louis Vuitton to Hong Kong, and he wished the company great success in the future.

Mr Rowse also said that he is delighted to see a top fashion brand appreciates the advantages of using Hong Kong as a platform to develop its business in the Asia Pacific region. He said, “Louis Vuitton’s investment reinforces our reputation as an ideal platform to develop retail business in the region. We look forward to seeing other retailers following Louis Vuitton’s footsteps in choosing Hong Kong to showcase their brands in Asia.”

The roots of Louis Vuitton in Hong Kong date back to 1979 when the French Malletier opened its doors at the illustrious Peninsula Hotel in Kowloon. Since then, Hong Kong’s demanding and sophisticated tastes for modernity and tradition have seen the company expand its presence in Hong Kong to six stores, including three New-Concept Stores. In March 2000, this expansion culminated with the opening of the largest Louis Vuitton store at 5 Canton Road. Today the Landmark, Pacific Place and 5 Canton Road carry the complete range of Louis Vuitton products.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here.

End/Friday, 16 April, 2004

Hong Kong returns to Basel

The opening of the largest ever Hong Kong Pavilion at BASELWORLD 2004was celebrated today in the presence of Financial Secretary, Henry Tang and Executive Director (Designate) of the Hong Kong Trade Development Council, Frederick Lam.

Speaking at the event, Mr Tang said : "I would like to thank all the industry associations, and the Swiss government for their support in creating this win-win situation for Hong Kong exhibitors."

Mr Lam celebrated the new agreement between the Hong Kong Trade Development Council and fair organisers, MCH Basel Exhibition Ltd, which secured the return of Hong Kong exhibitors to the Basel venue.

"333 Hong Kong companies have returned to Basel this year under a new partnership arrangement which guarantees a prime location in a new Hall, and competitive rates for the next six year," said Mr Lam.

In April 2003, a Swiss Federal decree prevented Hong Kong companies from exhibiting at BASELWORLD. Following intensive negotiations, the Hong Kong Trade Development Council and MCH Basel Exhibition Ltd signed a deal ensuring the return of Hong Kong to the Basel fairground under favourable terms.

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Financial Secretary, Henry Tang opens the Hong Kong Pavilion at BASELWORLD 2004.


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Picture shows Financial Secretary, Henry Tang and Executive Director (Designate) of the Hong Kong Trade Development Council, Frederick Lam (second from left). Swiss Federal Councillor Christoph Blocher (fourth from left), and President of the Government of the Canton of Basel City Joe Schild (fifth from left) at the opening ceremony of Hong Kong Pavilion at BASELWORLD 2004.

Rooftop pyrotechnics to enhance nightly show

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Spectacular view: Rooftop pyrotechnics will be added to the nightly show on April 27 and May 1 to 9.

The nightly light and sound show, A Symphony of Lights, will be enhanced with rooftop pyrotechnics on April 27 to mark the opening of the Avenue of Stars in Tsim Sha Tsui, and during Golden Week from May 1 to 9.

The Tourism Commission said the pyrotechnics complementing the show earlier this year was a hit with locals and tourists alike.
The pyrotechnics for the coming 10 days will be sponsored by the HK Tourism Board.
During the period, the show's music and narrative will be broadcast at the Cultural Centre Piazza and along the Avenue of Stars following its opening. Thereafter, the broadcast at the Cultural Centre Piazza will end to facilitate preparatory work on the Tsim Sha Tsui Promenade Beautification Project. The broadcast along the Avenue of Stars will continue.

From May 1, on-the-spot broadcasts of A Symphony of Lights will be in different languages. The English soundtrack will be used on Mondays, Wednesdays and Fridays, Putonghua on Tuesdays, Thursdays and Saturdays, and Cantonese on Sundays.
Spectators can also listen to the soundtrack via the radio by tuning in to FM103.4 (English), FM106.8 (Cantonese) or FM107.9 (Putonghua), or by calling 3566 5665 (English) or 3566 5668 (Putonghua).

Jobless rate stable at 7.2%

Employment remained stable for the quarter ending March with the unemployment rate standing at 7.2% (provisional), the same as the December-to-February reading. However, the underemployment rate rose slightly, from 3.3% to 3.4% (provisional).

Comparing January-March with December-February, falls in the unemployment rate (not seasonally adjusted) were observed in the foundation and superstructure construction, hotels, business services and medical services sectors, offsetting the increases seen in the decoration and maintenance, retail trade, sanitary services, and welfare and community services sectors.
For the underemployment rate, increases were concentrated in the construction, manufacturing and sanitary services sectors.

Total employment rose by 6,500, from 3,249,500 in December-February to 3,256,000 (provisional) in January-March. The total labour force rose by 10,800 to 3,505,000 (provisional).
The number of unemployed (not seasonally adjusted) rose by 4,300 to 249,000. Concurrently, the number of underemployed rose by 5,200 to 119,000 (provisional).

Employment uptrend sustained

Total employment rose further in January-March in tandem with the economic revival. The uptrend established since August-October was thus sustained. Yet the total labour force showed slightly faster growth, as a result the number of unemployed rose somewhat.
The unemployment outlook for the near term will depend on the overall economic situation and job creation capacity in the corporate sector, especially in the summer months, in absorbing the new batch of fresh graduates and school leavers.
The sustained increase in total employment indicates that labour market sentiment remains positive.

Both the number of vacancies received from the private sector and job placements achieved by the Labour Department reached new highs last month, reflecting an increase in manpower demand by private enterprises.
The 26,427 private-sector vacancies captured in March represent a rise of 12.6% over the preceding month, and a hefty increase of 57.2% over March 2003. The 6,822 placements achieved represented a rise of 16.3% and 18.9% respectively over the preceding month and March 2003.

The Labour Department will continue to leave no stone unturned in canvassing more vacancies and facilitating job-seekers find employment in an improving labour market. It will organise more job fairs in response to market needs in the coming year.

4 sites earmarked for higher education

Four sites have been earmarked and reserved for post-secondary education development and will be granted to successful applicants by private treaty at a nominal premium.It is expected that over 10,000 additional student places will be on offer when the college campuses are completed between 2007 and 2009.
Together with the four sites allocated last year, there are eight reserved or allocated under the Land Grant Scheme for Post-secondary Education Providers.

Purpose-built facilities boost learning

The four sites are located on the West Kowloon Reclamation, Tung Chung and Tseung Kwan O. They are all easily accessible, either within walking distance from MTR stations or well served by other public transport.
The Education & Manpower Bureau said the provision of purpose-built facilities will improve the learning environment, and offer a more complete campus life for students of self-financing post-secondary programmes.
The Government will soon invite applications from non-profit making educational institutions offering full-time, accredited and self-financing programmes at associate degree, higher diploma or above level to construct purpose-built college premises on the sites.

Applicants' experience, quality considered

The applications will be assessed by a selection committee appointed by the Secretary for Education & Manpower, who will make a final decision on site allocation.
Applications will be evaluated against a set of criteria including the applicants' experience in providing post-secondary education, the nature and quality of programmes to be offered, the projected student enrolment, facilities to be provided, the financial arrangements for implementing the project and the site development plan.
The bureau said it will be a competitive process and the best proposals will be selected.
Successful applicants will be required to enter into service agreements with the Government to provide education programmes in accordance with the benchmarks and standards set out in their proposals.

New laws to keep marine environment clean


To further strengthen pollution controls, the Government will extend to Hong Kong all Annexes to the International Convention for the Prevention of Pollution from Ships.

MARPOL is the main international convention aimed at preventing pollution of the marine environment by vessels.
Secretary for the Environment, Transport & Works Dr Sarah Liao told legislators today the Government is preparing two pieces of new subsidiary legislation to regulate the disposal of sewage and the emission of air pollutants from marine vessels.
After enactment, the requirements for prevention of pollution under all Annexes to the MARPOL Convention will become applicable to Hong Kong.

Some pollutants fall, but others are up

Dr Liao said the major pollutants produced by vessels in Hong Kong include oily water, chemical waste, sewage and dirty air.
Oily water generated by marine vessels and collected for treatment fell from 22,280 tonnes in 2001 to 16,170 tonnes in 2003, while the amount of chemical waste generated dropped from 15,450 tonnes to 8,490 tonnes.
However, floating refuse rose from 9,400 tonnes to 11,460 tonnes. In addition, it is estimated marine vessels generate about 3,800 cubic metres of sewage daily.

Apart from stepping up enforcement, Dr Liao said the Government will continue to promote public awareness on keeping a clean marine environment through educational campaigns and publicity drives.

More user friendly Police HQ on the way

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Building for the future: An artist's sketch of the new Arsenal House that will soon house the Police Headquarters.

Completion and occupation of the new Arsenal House Police Headquarters and the Central District & Divisional Headquarters later this year will bring to fruition more than seven years of detailed planning and development.
The new complex will be named Arsenal House, with the existing Arsenal House being renamed Arsenal House East Wing.
The new Arsenal House is an excellent example of the way in which the force has strived to ensure this purpose-built complex will be a prestigious yet dignified building that will serve its needs for decades to come.

A contemporary vision

It is a modern building that fuses design and functionality with the latest information technology. The overall guiding principle has been to enhance the force's service to the public.
The latest environmental energy-saving devices have been built into the complex, such as infrared presence sensors in offices to control lights and air conditioning.
Information technology applications provide video-conferencing, computer flooring and relocatable partitions, which will allow for the flexible use of space, and enhance working efficiency and cost effectiveness.
A minimalist approach has been taken with subtle landscaping features, in line with the design and fittings in the complex.

The new complex consists of three main structures, which are physically integrated as one building, but marshalled separately with a strategic centrally controlled security system.
The complex consists of a 42-storey high tower block, which will house Police Headquarters' major formations, a lower block which will house common facilities like the force library and various public interface offices, an example of which is the Police Licensing Office. Finally another 14-storey block will accommodate the Central District & Divisional Headquarters.
There are four basement levels, which combine vehicle parking with functional aspects like plant rooms. The new development will be linked with Arsenal House - to be re-named Arsenal House East Wing - and Arsenal House West Wing, by a footbridge and new integrated staff entrances.

User friendly with easy access

The complex includes a multi-purpose hall which will seat 200 people and have video and audio links to other facilities within the building.
A 300-seat auditorium will also be provided, fitted with simultaneous interpretation capabilities in addition to video/audio links. The force library and resource centre will have audio/visual booths and rooms.
A Police Public Relations Branch press briefing and display area, the Roll of Honour, an indoor firing range, a ceremony area, and catering facilities will all be included in the new Arsenal House.

Access will be available from Arsenal Street for vehicles and pedestrians, Harcourt Road for vehicles only, and Harcourt Garden for pedestrians only. Harcourt Road will be the main vehicle entrance.
The public will access the building from Arsenal Street by staircase or an escalator, taking them to the lift lobby or the Central Division report room. Public interface offices like the Shroffs Office, Crime Prevention Bureau, Licensing and Central Traffic Prosecution Bureau enquiry offices, are all co-located on the lower floors to provide ease of access for the public.

Final touch-ups

A series of interface works and some post-contract works will start after the Architectural Services Department hands over the new Police Headquarters later this month.
The works involve the modification of the Arsenal House entrance and will include the construction of an escalator to allow a connection to the link bridge of the new complex; and modification of the lift lobby and entrance after the new staff entrances become operational.

As some existing facilities in Arsenal House fall within some of the interface areas, works will be arranged to relocate some facilities before the interface works commence. Most interface works will not start until May.
Staff will move into the new complex in phases from August, by which time internal fitting out works will be complete.
Once the new Arsenal House is fully operational, towards the end of 2004 or early 2005, the complex will enhance the level of service provided to the public.

French festival attains high visibility, reaches wider audience ( 28/04/2004 )

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The first full length opera Samson & Delilah by famous French composer Camille Saint-Saens debuts in Le French May 2004

Le French May, the annual festival of French arts and culture is gaining in popularity and is now one of Hong Kong's major festivals as well as being the largest French arts festival in the Asia-Pacific region.

Sarah Goettelmann, cultural attache of the Consulate-General of France, the organiser, said Le French May has evolved over the years and has now outgrown its original limited beginnings.

"In the past few years, it has attracted an increasingly diverse public. Now recognised as one of the city's major festivals, Le French May has contributed to the emergence of a vibrant and truly international artistic and cultural life reflecting Hong Kong's unique character as a place where the east meets west," said Ms Goettelmann.

Started in 1993, the 12th edition of the French festival (28 April to 4 June) will feature 24 presentations covering the visual arts, dance, music, design, food, nightlife and film. For the first time ever, Le French May will open with an opera Samson & Delilah by Saint-Saens. Le Ballet de Lorraine will be staging Rave which combines classical dance with techno music and high fashion while La Compagnie L'Eventail will do a more traditional rendition of Don Juan. World acclaimed violinist Augustin Dumay will perform and saxophonist Claude Delangle will be featured in a selection of music from Paris to Buenos Aires.

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Brilliant French violinist Augustin Dumay will play with the Hong Kong Sinfonietta

Hong Kong partners to reach a wider audience

Le French May has also developed partnerships with Hong Kong's major arts and cultural institutions such as the Arts Centre, the Museum of History, the Academy for Performing Arts and the City Contemporary Dance Company to "achieve high visibility in Hong Kong and reach an ever growing audience."

"Le French May is a large window opening French lifestyle, culture and traditions to Hong Kong. It is also a channel to develop artistic cooperation between local and French institutions. Besides, Le French May can only exist and get better thanks to a strong partnership with the local government," said Ms Goettelmann.

Le French May 2005 promises to be even bigger as it incorporates the huge "Year of France" in China festival. "There will be a diverse selection of large scale exhibitions and performing arts events," promises Ms Goettelmann. The Leisure and Cultural Services Department will be one of the major partners for this massive festival.

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Rave, a modern ballet, is a fusion of electro music, fashion and classical dance

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HKIA wins top accolades ( 28/04/2004 )

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HKIA's efficiency and customer service quality have been recognised as it takes the World's Best Airport award from IATA and Skytrax

Hong Kong International Airport (HKIA) was named the Best Airport Worldwide by the International Transport Association (IATA) which bestowed it with a Special Recognition Award for leading levels of service.

The award comes hot on the heels of a recent poll conducted by Skytrax, a UK-based independent aviation research institution, naming HKIA World's Best Airport for the fourth year in a row.

HKIA scored the highest point of 4.26 on a scale of 5 of overall passenger satisfaction in the IATA survey. In the Skytrax poll, HKIA scored highly for the open spaces, clarity throughout the terminal buildings, natural day lighting and external views.

Airport Authority Hong Kong chief executive officer Dr David Pang said: "We shall continue to excel and maintain HKIA's position as the preferred airport that never fails to satisfy the ever-growing needs of air travellers."

The IATA survey was conducted on all aspects of passengers' entire-on-the-day experience covering 31 service ratings for 2003. The Skytrax Survey was conducted over a 10-month period from June 2003 to March 2004 and attracted 4.85 million nominations with participation from over 86 different nationalities of travellers.

Skytrax chief executive Edward Plaisted said: "It takes a considerable achievement for HKIA to take the Airport of the Year title for 2004 - this now being the 4th consecutive year for HKIA."

Asian airports dominated the top five survey honours in the Skytrax poll. In the second place was Singapore Changi followed by Amsterdam Schiphol, Seoul Inchon and Kuala Lumpur's KLIA Airport.

UK consultancy with designs on the China market ( 28/04/2004 )

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therefore Ltd managing director Graham Brett, pictured with some of the company's recent designs, says Hong Kong is the ideal base for trading in the Asia-Pacific region

One of Europe's leading product design consultancies is opening an Asia-Pacific office in Hong Kong to meet surging demand from manufacturers throughout the region.

therefore Ltd has built up strong links with China, Hong Kong and Taiwan during the last decade, and managing director Graham Brett says business is now booming.

"China has become the workshop of the world for many kinds of consumer goods, and we've become involved in so many projects there that it became vital we establish a presence on the ground," he explains. "Otherwise, we would be spending too much time in the air, flying to and fro.

"Chinese manufacturers are now increasingly looking to diversify and develop their own brands, so international design expertise is in great demand."

"Hong Kong is an ideal base for us because it's still the trading focus for the Asia Pacific region. Many potential clients, both international corporations and local manufacturers, have a presence in Hong Kong itself making communication relatively easy. Furthermore, it provides an excellent geographical base for travel to Taiwan, Japan and northern China."

therefore Ltd was established in 1993, initially designing PDA products for Psion plc. It now comprises a 25-strong team of industrial designers, mechanical and CAD engineers, user interface designers and model makers in London.

Renowned for its innovation, therefore Ltd designs for companies active in IT and communications, pharmaceuticals, medical equipment, domestic appliances, toys and hi-fi sectors. . Current and recent clients include Bush, Ericsson, NEC, Proctor & Gamble, Psion, Rotary, Samsonite, Siemens, Toshiba and Virgin.

Ace base fulfills sourcing needs ( 28/04/2004 )

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Ace Hardware Corporation managing director (international) Murray Armstrong says the new Hong Kong office is a springboard to the Chinese mainland and the Asia Pacific region

Ace Global Distributors (AGD Asia Ltd), a subsidiary of Ace Hardware Corporation, the largest hardware retailer-owned cooperative in the US, recently set up a regional support office in Hong Kong to consolidate its sourcing needs around the Asia Pacific region.

Ace managing director (international department) Murray Armstrong, said it was an easy decision to base the regional office in the SAR. "Hong Kong is the gateway to Asia and China and our business is growing so fast that we need to have a presence here. International sales have been growing 25-30 per cent annually and we expect the increase to continue."

Mr Armstrong said Hong Kong's proximity to China was another reason. "Most of the manufacturers are in southern China so we need to be near the source of our products to get the right prices. We hope to open at least three offices in China as well as stores soon."

Hong Kong platform significant for growth

The Hong Kong platform, he said, is significant for the growth of the company. "It is not only for sourcing. We have sold products in Asia for a long time. It got to the stage where we needed to have a presence in this part of the world in order to grow significantly," added Mr Armstrong.

He also cited Hong Kong's logistics capability, efficient workforce, communication ease, low taxes and sophisticated way of doing business as compelling reasons for Ace's new office.

The leading hardware retailing cooperative surpassed US$100 million in net income for the first time in its 80 year history in 2003. It has 4,800 stores in 50 states and 72 countries.

AGD Asia Ltd also has stores or work with stores in the Philippines, Malaysia, Indonesia and are in discussion to open stores in China, Thailand, India and Pakistan.

Starck launches key to OBM ( 28/04/2004 )

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Philippe Starck launches The Key to help manufacturers reposition themselves as well as to shape brand new identities

World-renowned designer Philippe Starck recently launched a new strategic and integrated communications consultancy in Hong Kong to help Asian companies make the transition from original equipment manufacturing (OEM) to original brand manufacturing (OBM).

According to Mr Starck, many western companies have become "paper tigers, or mere facades with a name and a logo" while the know-how and production are in Asia. Every time he wanted to talk with the engineers responsible for the development of the products he designed in partnership with various European and American companies, he was told they were in "Hong Kong, Taipei or Singapore."

"There is an imbalance as Asian producers do not have access to the final customer because they do not know the markets and how to manage the brands," added Mr Starck.

Together with Romain Hatchuel, the former CEO of the Cannes International Advertising Festival, Starck set up The Key in Hong Kong, Taipei and Singapore.

These are the three markets (outside Japan and Korea) with a long and successful industrial history and a good knowledge of the western world as well, according to the founders.

A bridge between Asian manufacturers and global markets

The Key's chief marketing officer, Gilles Mangin, said the new consultancy will serve as a bridge between Asian manufacturers and global markets. "Entrepreneurs in these three countries have built state-of-the-art factories in China over the last 10 years and they would like to leverage their investment in a more meaningful way than just by producing for western or Japanese brands."

The Key will offer a one-stop solution with strategic planning, brand and product creation and communication under one roof. Their main targets are companies of a certain size (market capitalisation of at least HK$1 billion), have state-of-the-art factories, a network of contacts and distribution with major global retailers and a clear vision and understanding of the importance of OBM.

"Hong Kong acts as our base for The Key and the hub to Asia as it is centrally located near Taiwan and China with excellent infrastructure and a pool of talents to tap on. The Hong Kong office will act as a launch pad to China and probably India as there are large corporations in these two countries eager to initiate an early transition to OBM. Nevertheless, the main focus will be in Hong Kong and Taiwan," added Mr Mangin.

International film festival further boosts Asia's entertainment hub ( 28/04/2004 )

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Greek actress Katerina Didaskalou was all-praise for the HKIFF which will merge with three other major events to further boost Hong Kong as Asia's entertainment hub

The recent Hong Kong International Film Festival (HKIFF) drew overwhelming response from industry leaders of the global film industry, further highlighting Hong Kong as Asia's film production centre.

HKIFF screened over 250 international films to full-house audiences throughout Hong Kong and brought international movie stars, filmmakers, critics, buyers and distributors to the city.

HKIFF director Peter Tsi said that Hong Kong is the best place to launch and grow an event of this kind.

"Hong Kong is an international city, it is vibrant and has a very influential film industry. It's also a media hub for Asia, with the presence of all the major advertising agencies and a lot of regional media. If you want to launch something in Asia, Hong Kong is the best place to do it," said Mr. Tsi.

"Hong Kong, with its unique group of talents, is already known as the film production centre of Asia. Our vision is to make Hong Kong a 'must-go' for film festival people, and to co-operate more with international film events to leverage on each other," he said.

Greek actress Katerina Didaskalou who starred in Eric Rohmer's Triple Agent was one of the many stars who came to HKIFF to network and find out more about the Asian film industry. She said HKIFF had definitely helped her career. "The two most important people I've met here have been Italian filmmaker Marco Bellocchio, and mainland director Zhu Wen, the award winner for South of the Clouds."

Collaboration with FILMART

The HKIFF will receive a boost next March when the festival will collaborate with three other major film events - FILMART organised by the Trade Development Council, the Hong Kong Film Awards and Hong Kong Asian Film Financing Forum.

Merging the Film Festival with FILMART is a natural step of progression, explained Mr. Tsi. "There will be greater synergy and I expect to see better participation from overseas. We will be able to pool our resources and leverage them more efficiently. Our events next March and April will go beyond the film scope. It's a visionary thing and it will reinforce Hong Kong as an Asian entertainment hub."

French director (Claude Sautet, or the invisible magic), distributor, scriptwriter and film critic, N T Binh who heaped praise on the HKIFF, was also strongly optimistic about the upcoming collaboration with FILMART.

"There is a growing market for Asian films in Europe, and Hong Kong is widely seen as a gateway to procuring films from the Chinese mainland," he said.

"Hong Kong has always had a buzzing industry, and the Festival has been a good place to network. It will be even more so when these events merge next year," he added.

More details in Hong Kong Film Industry: http://www.hkfilmart.com/

High performance environment breeds success ( 28/04/2004 )

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Marlene Lee, regional managing director of Octagon Prism, has found Hong Kong an easy market to work in, with great business infrastructure

Marketing and communications executive Marlene Lee, the creative force behind a string of world-class sporting and cultural events around the region, cites Hong Kong's entrepreneurial spirit as the foundation for her success.

Canadian-born Ms Lee, regional managing director of Octagon Prism Ltd, co-founded her sports marketing business (then called Prism) in 1989. She was immediately struck by the dynamism of Hong Kong. "The buzz was palpable," Ms Lee said. "You could feel the energy level, and I immediately knew this was the place to be."

That original two-person partnership has now expanded into a firm with a network of offices around the region, employing over 90 people in Hong Kong, Beijing, Shanghai, Shenzhen and Guangzhou. As a division of The Interpublic Group of Companies - the world's largest marketing and communications group - Octagon is also represented in all major continents around the globe.

"Opening a business is very straightforward in Hong Kong," said Ms Lee, who has won a series of awards for business excellence, including being named the Canadian Chamber of Commerce Entrepreneur of the Year in 2002. She also continues to be impressed by the depth of professional talent in Hong Kong.

"My business is based on the premise of finding and developing quality staff, with the capacity to handle international standard sporting activities and events," Ms Lee said. "I have never found this a problem in Hong Kong. Expatriates are still attracted to come here, and the local professional talents are excellent - they are my prize staff."

Blue-chip clients drawn to Hong Kong

Attracting blue-chip clients is also made easier with a Hong Kong base, Ms Lee added. "Hong Kong is still considered one of the premier markets in Asia for sporting events."

Octagon is responsible for marketing and communications at most of Hong Kong's major sporting events, including the Cathay Pacific Credit Suisse First Boston Rugby Sevens, the Standard Chartered Marathon, the Circus Capital Stanley Dragon Boat Races, the Indoor Trial World Championships and the Omega Golf Open, along with many of the leading cultural and gala events. It also co-ordinates events elsewhere in the region, including Myanmar, Dubai, Australia, Shanghai, Beijing, Taiwan, and Malaysia for clients including BMW, McDonald's and Samsung.

"Hong Kong is an easy market to work in, and has great infrastructure in terms of transport and communications, and a transparent legal system," Ms Lee said. "Hong Kong is a hub for all kinds of business activity in the region. The large concentration of multinational companies - and therefore the presence of so many decision-makers - is also very important to our business.

"I always describe Hong Kong as the perfect capitalistic environment. If you have the skills, the experience and the capability, those qualities will be recognised and you can move forward. If you build a network, you can move even higher.

"Hong Kong is a place where people are rewarded for effort. It is a very exciting place to do business, and at the same time culturally stimulating, with Western control and standards, and Asian practicality. Hong Kong offers a level playing field, and is at the cutting edge of development and excellence - in all, a great place to build a business in the region."

Flying high on a rebounding economy ( 28/04/2004 )

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Dragonair’s launch of service to Tokyo reflects the high number of business travellers using Hong Kong as a hub

Hong Kong's aviation industry is soaring to new heights, buoyed by economic optimism and the SAR's increasing status as the region's aviation hub.

A number of international carriers are expanding or upgrading their services in and out of Hong Kong in response to growing passenger demand, especially from business travellers. Cathay Pacific Airways, Hong Kong's national airline, continues to build its fleet with plans for further expansion.

In addition, Hong Kong International Airport has been voted Airport of the Year for the fourth consecutive year, in two recent global surveys

Initiatives announced in recent months include Dragonair's inauguration of services to Tokyo's Narita Airport. The airline will operate seven flights a week: twice on Fridays and daily except Saturday. In March, Dragonair posted double-digit growth in both passenger numbers and cargo volume, with business travel a standout.

Economic optimism spins off

"The resumption of growth in the Hong Kong economy, and the widespread sense of optimism since the start of the year, has been good for the aviation industry here," said Stanley Hui, Dragonair CEO. "More people are travelling for work and pleasure, as reflected in the high number of passengers travelling with us.

"Our network has played a significant role in strengthening Hong Kong as an international aviation hub for almost 20 years, and it is a tradition we intend to keep alive by exploring new markets and opportunities for growth."

Malaysia Airlines is doubling its nonstop services between Hong Kong and Kuala Lumpur from seven to 14 times weekly, and expanding its service to Kota Kinabalu. Regional manager for China and Hong Kong Yap Kiang Thiam said the airline was strengthening its position in Hong Kong, which it has always considered be an important regional hub.
He commended the Hong Kong airport authority on recent initiative to retain its competitive edge, such as fast-tracking inbound passengers to the Pearl River Delta.

Aeroflot Russian Airlines is launching a new programme of quality standards aboard six direct flights from Hong Kong per week, with good connections to Europe and the Middle East. The carrier is offering enhanced service and an improved menu to business and first-class passengers.

Cathay posts strong first quarter

Growing demand for business-class seating is also being recognised by Cathay Pacific, which moved more than a million passengers across its global network in March, a growth of 4.2 per cent. General manager of sales Ian Shiu said the March figures capped a strong first quarter during which Cathay saw steady growth in business traffic, in particular on long-haul routes.

Cathay Pacific has placed orders for eight more wide body regional aircraft as part of its plan to grow the airline and further enhance Hong Kong as a leading international aviation hub. It aims to hire more operating crew and ground staff over the next three years, and has recently expanded services, including the addition of a new daily non-stop service to New York, starting on July 1.

Cathay Pacific Airways' deputy chairman and CEO David Turnbull said: "The acquisition of eight more aircraft reflects our plan to grow the airline and demonstrates our continued commitment to Hong Kong. The aircraft will enable the airline to increase services and strengthen our network, and at the same time help to further develop Hong Kong as a leading global aviation hub."

In other aviation news, Korean Air is in negotiations to secure additional passenger and freighter capacity between Hong Kong and South Korea. ``We are eager to increase the number of flights to Hong Kong,'' Simon Yang, the airline's regional vice president for Hong Kong and Southeast Asia, told The Standard. The airline has reached the maximum number of flights permitted under the existing air services pact.

Hong Kong International Airport (http://www.hongkongairport.com/)
Cathay Pacific (http://www.cathaypacific.com/)
Dragonair (http://www.dragonair.com/)

World banks localise for first-mover advantage in China ( 28/04/2004 )

Foreign banks are increasingly aware of the potential of Hong Kong as a springboard to the Chinese mainland. As a result, many are now seeking to incorporate their business in Hong Kong to take advantage of benefits from the Cepa free trade pact.

The latest is US-owned Citibank, which has just applied to the Hong Kong Monetary Authority to incorporate locally its consumer banking business. The bank is hopeful that incorporation will be completed by the first quarter of next year, says Kathy Cheung, head of communications in Hong Kong.
"The potential in Hong Kong is enormous due to the reform of China's banking sector," Ms Cheung said. "To stay competitive we decided we needed to be a local company."

Cepa, the closer economic partnership agreement, also makes it easier for Hong Kong-incorporated banks to apply for licences to extend their business scope. In the past, the regulator had to be satisfied that each branch had been profitable for two of the last three years consecutively. Now, under Cepa, a bank can be assessed on a consolidated basis, instead of branch by branch. More details in Cepa (http://www.hktrader.net/200404/cepa/cepa-index2003.htm)

Gearing up for opportunities

When the mainland's WTO commitments come into effect in three years' time, foreign banks will be allowed to apply for licences to accept yuan business from mainland consumers. If, before that, Hong Kong banks use Cepa to strengthen their presence in other parts of China, they will be at an advantage.

"Citibank already has a large established business in China, where we first had a presence in 1902," Ms Cheung said. "In the mainland we now have six branches - two in Beijing and one each in Tianjin, Shanghai, Guangzhou and Shenzhen."

She says the intention is not to expand this network immediately. However, Citibank believes if it is incorporated it will be better able to compete in Hong Kong in future with respect to mainland-related business.

Its decision to incorporate comes hot on the heels of that of Standard Chartered Bank. The UK-owned bank has applied for authorisation to establish a Hong Kong-incorporated subsidiary, Standard Chartered Bank (Hong Kong). The plan is for assets and liabilities from the existing bank and some of its local offshoots such as Manhattan Card Company and Standard Chartered Finance to be injected into the new entity.

Low taxes a bonus

One of the effects of local incorporation would be that the bank's local business would be taxed at the local rate of 16.5 per cent instead of the 33 per cent rate prevailing in the UK, where the Standard Chartered group is headquartered.

But Peter Wong, director responsible for the bank's operations in Greater China, denies that lower tax is the main consideration. "More important than the tax benefits is the bank's long-term vision and how we in Hong Kong can play a role as an integral part of China," he said.

"The tax implications are not the main rationale for incorporation," agrees Ms Cheung of Citibank, which would also benefit tax wise.

Local incorporation by Citibank and Standard Chartered will put them on an equal footing with the Hong Kong and Shanghai Banking Corporation, the local unit of the London-registered HSBC group. It has been incorporated in Hong Kong since its inception here in 1865.

Looking to a bright future

According to Raymond Or, general manager of HSBC, locally incorporated banks benefit from Cepa because the asset requirement for them to do business on the mainland has been reduced to HK$46.7 billion (US$6 billion), enabling smaller banks to qualify. For non-Hong Kong banks the threshold is still HK$155.6 billion (US$20 billion).

Citibank's Kathy Cheung says: "We believe that in future there may be more opportunities for Hong Kong-incorporated banks, deriving either from Cepa or other arrangements. Actually, we are looking beyond Cepa."

Monday May 10, 5:27 PM

Hong Kong drainage repair workers find ancient pots

Workers repairing drainage pipes beneath a busy Hong Kong street stumbled upon a stash of traditional Chinese pots dating back over a thousand years, officials and local media said Monday.

In the second find in four days, workers dug out part of a clay pot from the ancient Jin Dynasty (A.D. 265-420) and fragments of a kiln from the Tang Dynasty (A.D. 618-907), television station Cable TV reported.

Government spokeswoman Addy Wong confirmed there had been an archaeological discovery but had no immediate details.

On Friday, workers found four intact flat-bottomed clay pots believed to be burial items, also from the Jin Dynasty, at the same site in the Mong Kok shopping district, the government said earlier.

"It is rare that ancient artifacts of such good conditions were unearthed in an urban area in Hong Kong," a government spokesman said in a statement.

They have been put on display at a local museum. The drainage repairs have been suspended to allow for further excavation, the government said.

Millions to shop till they bop in summer fiesta

Mark Lee and Sylvia Hui

Some residents may think of Hong Kong in the summer as a place of unrelenting heat, humidity and pollution, with temperatures soaring into the mid-30s and staying there. Surely, not a fun place.

Not so, says the Hong Kong Tourism Board (HKTB). Millions of visitors are going to pour into the city this summer for the latest promotional spending fiesta, the Hong Kong Shopping Festival, "a city-wide party'' of late-night retail therapy, dazzling water and light shows, giveaways and entertainment.

Tourism officials say 3.7 million visitors are expected during the promotional period from June 26 until August 31.

"We want to keep tourists out and about late into the night, that way they'd have more spending opportunities,'' HKTBexecutive director Clara Chong said yesterday.

With the economy on the rebound and mainland tourists pouring into the city following the introduction of the individual visitor scheme last year, HKTB is banking on Hong Kong's image as a supplier of upscale goods and quality service, not just bargain hunting.

Visitor arrivals in the first three months of this year have shown year-on-year increases. The provisional April figure of 1.73 million visitor arrivals is also up on last year's numbers, although that was recorded in the middle of the Sars outbreak.

A previous HKTB spendfest was the "Mega Hong Kong Sale'' in 2002. This event according to HKTB helped increase spending by 25.3 per cent between 2002 and 2003 to HK$77.4 billion, while visitor arrivals increased 20.7 per cent.

For the latest event, some 160 merchants and restaurants have signed on to participate, mostly in the main tourist districts. In addition, Chung said that more than 30 major sponsors will contribute to the event, with money or prizes for giveaways.

Due to the high number of sponsors, Chung said it was difficult to calculate the cost to taxpayers. The government has lent some direct support for tourism as well. In his budget on March 10, Financial Secretary Henry Tang announced an additional HK$95 million for tourism promotions.

The centrepiece of the extravaganza is Aquafantasia, a light and water show near the Tsim Sha Tsui clock tower in Victoria Harbour. Using a 360-degree water curtain and the Hong Kong Cultural Centre as a backdrop, the show is billed as a "must see'' for the whole family.

Officials expect some 7,000 people to mill around in the muggy late night air to watch the show, which will be staged three times a night.

The promotion will also feature giveaways and discounts on some items, such as gold and watches.

Both visitors and locals will be eligible for the discounts but, as with many things in Hong Kong, buyers would be well advised to bargain hard, especially in the traditional tourist districts of Kowloon, where price tags are rare in many shops and everything is a process of negotiation.

In addition to the promised retail frenzy, the HKTB is organising a "shopper of the year'' competition in 16 foreign cities.

Details of the competition have yet to be released..

14 May 2004 / 01:26 AM

Citigroup chief hails Hong Kong as services hub ( 28/04/2004 )

Hong Kong can excel as a centre for financial services, tourism, entertainment and education, and these are areas with important strengths and commercial ties to the US, according to senior vice chairman of Citigroup, William Rhodes. Mr Rhodes is also chairman of the US section of the HK – US Business Council.

Speaking at an American Chamber of Commerce breakfast meeting in Hong Kong, Mr Rhodes said that Hong Kong’s comparative advantages have created an environment particularly well suited for the expansion of the service sector.

“Citigroup enjoys a robust and expanding business in Hong Kong, and is committed to maintaining a prosperous and competitive Hong Kong,” said Mr Rhodes.

“Hong Kong stands to benefit from the mainland’s huge demand for international financial services. We have the region’s strongest bond market but there is still a lot of room to grow,” said Mr Rhodes. “To develop further, Hong Kong needs to sharply increase the volume of bond issues and attract more investors. The Hong Kong Government’s plan for Hong Kong’s bond market development is a small step in the right direction

Mr Rhodes added that Hong Kong has a strong financial services underpinning, it is also an attractive centre for culture and recreation for tourists from the region and beyond.
“Hong Kong has great potential in various kinds of tourism eg. business tourism linked with exhibitions and conferences and family, ecological and cultural tourism. With Disneyland opening in 2005 and the new attractions at Ocean Park, this potential is set to increase even more,” said Mr Rhodes.

Mr Rhodes said that education services are another important resource of Hong Kong. “Strengthening financial and management education will help grow Hong Kong’s market share in regional financial services potential as an education hub. These points are all areas of overlapping interest between the US and Hong Kong.

“For many US companies, Hong Kong will continue to be a place where they can profitably invest in the expanding service sector and leverage these investments for regional operations,” said Mr Rhodes. He added that Cepa had greatly enhanced Hong Kong’s appeal.

“Cepa provides Hong Kong services firms with an important head start over foreign competitors, and reinforces Hong Kong’s desired position as the value added services centre for the Greater Pearl River Delta,” said Mr Rhodes.

Global brands put Hong Kong on world fashion map ( 28/04/2004 )

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A giant Louis Vuitton trunk marquee illuminates the Hong Kong skyline as the global brand celebrates its 150th anniversary with a glittering party in the city.

Top global fashion brand, Louis Vuitton, selected Hong Kong as one of the four cities worldwide to host its 150th anniversary celebration recently.

Hong Kong joined Paris, New York and Tokyo as host cities in a glittering event held in a 70-metre-long - about the size of three tennis courts - Louis Vuitton trunk marquee built on the Tamar site overlooking the famous Victoria Harbour.

CEO and chairman of Louis Vuitton and LVMH Fashion Group, Yves Carcelle, said the celebration which attracted over 2,000 guests, represented a vote of confidence in the Hong Kong market, illustrated by Louis Vuitton's long-term investment in the city. Louis Vuitton has more flagship stores in Hong Kong than anywhere except Paris and Tokyo.

"Hong Kong is our Asia Pacific headquarters for 14 countries in the region. Its strategic location, its importance as a fashion capital in this part of the world, coupled with its efficient communications make it the perfect city for us to do business," said Mr Carcelle who was joined at the celebration by Patrick Vuitton, a fifth generation member of the founding family.

Hot on the heels of Louis Vuitton's high profile party were two fashion shows held by the Armani Group to mark the visit of its designer and founder Giorgio Armani, and the first anniversary of its flagship store in the Central shopping district - the largest outside Milan.

The Italian designer was on a tour to Beijing and Shanghai where he opened a flagship store on the Bund, signalling an increased commitment to the mainland market, where the fashion group plans to open 30 shops by 2008.

International brands rush to expand

The large-scale events held by Armani and Louis Vuitton underline the aggressive expansion to open flagship stores in the city by other international luxury brands taking advantage of a rebounding economy, increased visitor arrivals especially from the Chinese mainland and competitive rentals.

According to Lawrence Wu, leasing general manager for Sun Hung Kai Real Estate Agency, numerous international retailers are keen to come to Hong Kong as the city is a springboard to the burgeoning mainland market. "Hong Kong is also a showcase for affluent mainlanders who see the city as a shopping destination for luxury goods." (Details in Designer stores rush to build international brands in Hong Kong).

Millions more mainlanders are expected to visit Hong Kong with the recent announcement that the Individual Travel Scheme has been extended to a further 16 of China's wealthiest cities. The scheme was introduced last July when mainland authorities began exempting some travellers from travelling in tour groups while visiting Hong Kong. Since then, more than 1.6 million mainlanders from Shanghai, Beijing and 14 cities in Guangdong (southern China) have visited Hong Kong and according to government figures, have brought more than HK$9 billion (US$1.15 billion) in economic benefits to the city.

The Hong Kong Tourism Board expects the city to receive 11.2 million mainland visitors this year, up from 8.5 million in 2003. With each mainland visitor spending an average of HK$5,600 (US$719), a further shot in the arm for Hong Kong's retail sector is expected.

German-based top testing institute sets up Greater China headquarters in Hong Kong

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German-based top testing institute sets up Greater China headquarters in Hong Kong

Leading independent testing institute VDE today (30 April) announced that the company has chosen Hong Kong to establish its Greater China centre. Named VDE Global Services HK Ltd., the headquarters will also serve as an important base for its regional growth.

Operating as a neutral and independent body, VDE Global Services, in close cooperation with VDE Testing and Certification Institute, conducts electronic product testing; participates in standardisation work and international conformity assessment schemes. The Greater China headquarters in Hong Kong will be responsible for business operations of representative offices in Guangzhou, Shenzhen, Suzhou, Shanghai, Beijing and Taiwan.

The President of VDE Global Services GmbH, Dr Gerhard Dreger, said, “We are excited about our new strategic move in Hong Kong. Hong Kong is the logical launching pad to better serve manufacturers and retailers in this part of the world with fast, customer- oriented processing of VDE testing and certification services -- and to access decision-makers throughout the region.”

The Hong Kong office will work with CMA Testing and Certification Laboratories to provide product testing and certification in the city. It will also provide consultation on standards and European directives for usability testing, as well as system certification.

The General Manager of VDE Global Services HK Ltd., Mr Andreas Fabian, said, “It is crucial for us to keep abreast of the latest developments in the China market. With Hong Kong’s proximity to the Mainland, we will be able to have easy access to real-time information from the Mainland. The strategic location of Hong Kong in the centre of Asia also provides an excellent platform to develop our testing and certification businesses in the region.”

The acting Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, welcomed the company’s decision to invest in Hong Kong. He said, “We are delighted to see the addition of other multinational companies like VDE to invest in Hong Kong. We believe that the presence of VDE will further strengthen our leading positioning as the regional centre for technical service providers and consultancies.”

“We wish VDE Global Services every success in Hong Kong and in the region. We look forward to seeing the company bringing in other business arms to Hong Kong, further enriching our testing services sector.”

Since its foundation in Germany in 1893, VDE has evolved into one of the largest technical and scientific associations in Europe, with 33,000 members from the electrical, electronic and IT industry, the electrical utilities, federal authorities and institutions. The association established VDE Global Services GmbH to strengthen their international services for safe electrical products.

The VDE Certification Marks are registered and protected in more than 30 countries. Manufacturers in over 50 countries affix the VDE Mark to their products. In many countries, the VDE Mark is a standard requirement for imports.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here.


End/Friday, 30 April 2004

Innovative software solutions provider opens regional headquarters in Hong Kong

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BlackPearl, Inc., a US-based innovative software solutions provider for the financial services industry, announced today (27 April) the establishment of its Asia Pacific headquarters in Hong Kong.

At the opening ceremony, the CEO of BlackPearl, Inc., Mr Seybold, said, “We are pleased to announce our exciting expansion in the region. Hong Kong’s knowledge-based industries are growing and thriving, making it an ideal location to base and expand our sales and customer support network throughout the Asia Pacific region.”

“We believe that Hong Kong’s preeminent position as a global financial hub provides us with a ready-made marketplace. There are more than 380 banking institutions, 200 insurers, 2,100 securities dealers and 1,600 unit trusts and mutual funds in the city. These financial services companies are awakening to the reality that, in order to be winners in today’s competitive environment, they must have the ability to act on market opportunities quickly and address compliance issues before they reach crisis levels. We are confident that with our unique 'before-time' capability, we will help these organizations distinguish their businesses and come out on top."

BlackPearl was founded in 1998 and is headquartered in San Francisco, with offices in New York, Hong Kong and London. It provides solutions for companies in the brokerage, insurance and banking industries by identifying and prioritising hidden revenue opportunities and business risks; eliminating inefficient, costly manual processes; and improving the quality of service to customers.

The Associate Director-General of Investment Promotion at Invest Hong Kong, John Rutherford, welcomed BlackPearl’s decision to open its regional headquarters in Hong Kong.

He said,” We are delighted to see another leading-edge international IT company choose Hong Kong for its first Asian operation. By setting up in Hong Kong, BlackPearl is using a tried and trusted business model to build its regional business. The company’s decision will certainly enrich our strong IT industry and serve as an enabler to support the growth of the financial sector. They will also act as the latest testimonial to Hong Kong’s unrivalled position as the springboard to Mainland China and the rest of Asia.”

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing the support needed to establish a business presence here.

End/Tuesday, 27 April, 2004

Business booms at Spring trade fairs ( 10/05/2004 )

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Over 70% of buyers at the Hong Kong Gifts & Premium Fair and the Houseware Fair were very upbeat about business for 2004

Hong Kong is the premier location for trade fairs in the Asia-Pacific region, according to buyers and exhibitors at recent successful events including the Houseware, Gifts & Premium and Electronic Fairs held in April.

“Hong Kong is simply the premier location in this region for trade shows. The only thing is that as an Australian company, buyers tend to have the misconception that we are more expensive, when in fact we are very competitive,” said Gary Skinner, managing director of Garmond Australia PTY Ltd., at the Gifts & Premium Fair. “We will continue to exhibit here, as we have done for many years, as we get the best international exposure in Hong Kong.”

The Gifts & Premium Fair (28 April – 1 May) is the largest of its kind in Asia, with more than 3,400 exhibitors from 33 countries

“We’re trying to get our product into new countries and regions, and we found 17 new countries in one day at this fair,” said Nick Foster, IT manager of UK-based Fiesta Collectables Ltd Inaugural Spring Electronics Fair a huge success

Inaugural Spring Electronics Fair a huge success

Shaogong Song from Torch High Technology Industry Development says Hong Kong is an international window for mainland companies
The new Spring Electronics Fair (14-17 April) was also a huge success, attracting almost 2000 exhibitors from 24 countries and regions. A highlight of this fair was the ICT Expo, which focused on information technology and software applications and brought together more than 480 international exhibitors.

Speaking at a conference at the Electronics Fair, founder and CEO of BEA systems Inc Mr Alfred Chuang said the IT market in China was “exploding” and that Hong Kong had a vital role to play, particularly as a bridge for mainland companies to access the rest of the world.

“Hong Kong is an international window through which mainland companies can reach out to important world markets such as the US, Europe and Japan. Not only can we collaborate with Hong Kong enterprises on developing products and markets, we’re also exploring opportunities to find new sources of funding and establishing joint venture capital investment mechanisms here,” said Shaogong Song, division chief senior engineer of mainland-based Torch High Technology Industry Development Centre.

Unrivalled opportunities for sourcing and networking

The Hong Kong Houseware Fair (21-24 April) attracted almost 2000 exhibitors from 33 countries and regions, the majority of whom were optimistic about the industry’s prospects this year. In a survey at the fair, some 70 per cent of buyers and exhibitors believed that 2004 would be a better year for business than the previous year.

“The Hong Kong Houseware Fair is the most important international event in the region for German manufacturers,” said manager of Durma Messe Stuttgart International, Brigitte Fahrngruber. “It provides an unrivalled opportunity to network with industry professionals from around the globe.”

Derek Miller, vice president of the International Housewares Association, said the Hong Kong Houseware Fair provides US companies a valuable opportunity to meet with international customers. “As Asia becomes a more dominant region for the sourcing of supplies, the number of visitors to the fair will continue to rise,” he added.

More successful events are to follow in the summer months, including Hong Kong’s version of Cannes – the Hong Kong International Film & TV Market (FILMART) (23 – 25 June), the Summer Sourcing Show for Gifts, Houseware and Toys (6-9 July) the Hong Kong Licensing Show (6-8 July), the Hong Kong Fashion Week for Spring/Summer (13-16 July) and Hong Kong Watch and Clock Fair (1-5 September)

Click here for a full list (http://www.tdctradefairs.com/) of TDC events

Click here for a full list (http://www.tdctrade.com/exh-con/) of business events

Ideal base to attract traditional Chinese medicine firms ( 10/05/2004 )

Hong Kong is the ideal base for traditional Chinese medicine (TCM) companies, according to the head of the Hong Kong Science and Technology Park (HKSTP).

Chief executive CD Tam said that with the recent signing of the closer economic partnership arrangement (Cepa), Hong Kong could also be a manufacturing base for Chinese mainland companies as well as a R&D centre. Through Hong Kong, mainland companies would also have access to international markets.

Mr Tam singled out Hong Kong's efficient technical infrastructure, world-class universities, strong intellectual property protection and ready funds from venture capitalists as factors making Hong Kong desirable as a TCM hub. "In addition, Hong Kong offers three other major success factors - modernisation, standardisation and internationalism," added Mr Tam.

TCM, he stressed, is thousands of years old but it is always used within China. "We need to understand TCM in a scientific manner. With modernization, we are able to do DNA analysis and by combining TCM with modern technology we can bring it up to international standards and to international markets," said Mr Tam.

Hong Kong brand name helps in overseas foray

Last December mainland company Han Sheng Tang Herbal Technologies became an anchor tenant at HKSTP. "It is the first mainland TCM company to move manufacturing to Hong Kong following Cepa as the "Made in Hong Kong" brand name helps mainland companies in their overseas foray," said Mr Tam.

Later in the year, HKSTP's Bioinformatics Centre specifically designed to house biotechnology and TCM companies will be ready. Hua Da Bio-tech, a Chinese Academy of Science research institute involved in DNA decoding and sequencing and Yunnan Quhuan Hang Company, have applied to be tenants at HKSTP.

The mainland's oldest drug-maker China Beijing Tongrentang Group which recently inked a deal with Hong Kong conglomerate Hutchison Whampoa to develop traditional cures, is also in discussion with HKSTP.

"HKSTP can provide world class synergy - shared facilities with technology and business support from our universities. With the world as our potential market, I definitely would expect to see more TCM companies locating in Hong Kong," said Mr Tam.

Hong Kong Science & Technology Park (http://www.hkstp.org/)

Spanish freight forwarder sets up Asia Pacific base ( 10/05/2004 )

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Managing director of Operasia Forwarding Ltd Arturo Segarra and general manager of Operinter, S.A. Pascual Gimeno Valcarcel with InvestHK's Simon Galpin

Spanish-based and transport company Operasia Forwarding Ltd has set up a regional office in Hong Kong to handle the ever expanding bilateral trade between Spain and Asia.

The managing director of Operasia Forwarding Ltd, Arturo A Segarra, said bilateral trade between Spain and Asia has outgrown that of other European countries. "It has become imperative for us to offer a tailor-made solution and knowledge to our Spanish and European-related customers. Therefore, we saw a need to choose an ideal location to set up our regional office in Asia."

Mr Segarra added: "Hong Kong offers our company an excellent business, legal and banking environment for our daily activities and operations in Hong Kong and the rest of China. We also believe in its strategic location and expertise of its people necessary to set up our head office in Asia Pacific."

The Hong Kong regional office is also responsible for expansion into the mainland market. It will offer sea and airfreight shipment services in Hong Kong and other markets in the region. Operasia Forwarding Ltd is a new subsidiary of Operinter, S.A., a leading International Freight Forwarder in Spain.

InvestHK's associate director-general of investment promotion Simon Galpin pointed out that Hong Kong has the world's largest international air cargo handler and the busiest container port. Half the world's population live within five hours flight time of Hong Kong. These advantages, he said, offer tremendous growth opportunities for freight forwarding companies.

Financial group expands services to strengthen regional presence ( 10/05/2004 )

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RBC Capital Market's John Burbidge (3rd from right) and InvestHK's John Rutherford at the launch of RCB's services in Hong Kong to strengthen its regional presence

RBC Capital Markets, the corporate and investment banking arm of RBC Financial Group, launched its services in Hong Kong recently to strengthen its regional presence.

RBC Financial has had a presence in Hong Kong since 1958. Its current operations include corporate and investment banking, private banking, custody services and retail brokerage.

John Burbidge, CEO RBC Capital Markets Europe and Asia, said the company "recognises the importance of offering a broad and ever expanding range of products and services to corporations, governments and institutions in the Asian economy."

The company, added CEO of RBC Capital Markets, Hong Kong, Andrew Turczyniak is optimistic about the future of the financial services sector in the SAR. "We have a strong commitment to building our presence in Hong Kong and recognise that this city epitomises the vitality of this region. We see tremendous business opportunities in the rapidly growing Asian economy and view this milestone as a bridge to future business expansion throughout the Pacific Rim."

RBC Capital Markets is the global brand for the corporate and investment banking businesses of RBC Dominion Securities, Canada's leading investment bank, and Dain Rauscher Wessels, the U.S. equity capital markets arm of RBC Dain Rauscher.

InvestHK's acting director-general of investment promotion, John Rutherford, said "with a sophisticated banking system, rule of law and a large pool of highly-qualified professionals, Hong Kong is a natural choice for banks."

UK stays connected through Hong Kong service provider ( 17/05/2004 )

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UK Broadband CEO Mike Butcher, pictured at the launch with the Netvigator box, says the broadband service will change people's lives in the UK

Customers west of London now have access to high-speed wireless broadband following the launch, 6 May, of a pioneering new service by the wholly-owned subsidiary of Hong Kong's leading Internet service provider, PCCW.

Six towns in the Thames valley are the first places in Europe to experience UK Broadband's Netvigator service. This offers wireless broadband to home and office at speeds up between 10 and 20 times faster than standard dial up Internet connection in the UK.

Netvigator provides broadband access without the need for 'phone line or cable connection, instead using a plug and play device available in high street shops or over the Internet.

"This is truly revolutionary as it allows customers to install their broadband service within minutes and offers dedicated service with very high speed access," said UK Broadband Executive Officer Mike Butcher.

The wireless technology allows broadband connection in any room in the house. Its "always on" access makes it easy for users to surf the net, download music or videos, and bank or shop online.

At present only 11 per cent of UK households have broadband, mainly available through 'phone and cable links.

"Many people have been reluctant to switch to broadband through fixed telephone lines because of the cost, delays in getting connected and the frustration of dealing with multiple service," said Mr. Butcher. " It is simple to install, and since it is wireless you don't need an engineer to visit your home."

World's longest cable bridge enhances logistics hub status ( 17/05/2004 )

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Artist’s impression: Stonecutters Bridge with a world record span of 1,018 metres will straddle the world’s busiest container port in Kwai Chung

Hong Kong is planning to build the world’s longest cable-stayed bridge, a move seen as further enhancing Hong Kong as an important international logistics hub.

The HK$2.76 billion (US$355 million) Stonecutters Bridge contract was awarded to a consortium of three Japanese companies and a Hong Kong construction company - the Maeda-Hitachi-Yokogawa-Hsin Chong Joint Venture.

The new six-lane 1.6 km long bridge stretching from Stonecutters Island to Tsing Yi will serve as a crucial link to connect the eastern New Territories with Hong Kong International Airport and North Lantau. It will also straddle the Rambler Channel at the entrance of the Kwai Chung Container Port regarded as the busiest port in the world.

“Stonecutters Bridge is more than an engineering feat. This is a defining piece of architecture for Hong Kong,” said Secretary for Environment, Transport & Works Dr Sarah Liao. “This new highway will provide direct access to Container Terminals No 8 and 9 in Kwai Chung which will further enhance Hong Kong as an important international logistics and transportation hub.”

Stonecutters Bridge will also be a top tourist attraction in addition to being an important future landmark for the city. There would be a viewing platform on Tsing Yi and an exhibition hall featuring the construction process.

Scheduled to be completed by June 2008, the design for the Stonecutters Bridge was earlier won by an international design competition held in 2000. The winner was an international team comprising Halcrow Group and Flint & Neill Partnership of the UK, Dissing + Weitling of Denmark and the Shanghai Municipal Engineering Design Institute.

Hong Kong’s role as international shipping centre strengthened

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Spanish-based shipping and transport company Operasia Forwarding Ltd announced today (3 May 2004) that the company has chosen Hong Kong for its regional office.

The Managing Director of Operasia Forwarding Ltd, Mr Arturo A Segarra, said, "The bilateral trade between Spain and Asian countries has outgrown that of other European countries. It has become imperative for us to offer a tailor-made solution and knowledge to our Spanish and European-related customers. Therefore, we saw a need to choose an ideal location to set up our regional office in Asia."

”Hong Kong offers our company an excellent business, legal and banking environment for our daily activities and operations in Hong Kong and in the rest of China. We also believe in its strategic location and expertise of its people necessary to set up our head office in Asia Pacific," Mr Segarra added.

The Hong Kong office will offer sea and airfreight shipment services to customers in Hong Kong and other markets in the region. Operasia Forwarding Ltd is a new subsidiary of Operinter, S.A., a leading International Freight Forwarder in Spain.

According to Mr Segarra, the Hong Kong regional office will also be responsible for the expansion into the Mainland market. He pointed out that Hong Kong provides the perfect platform for transportation and logistics companies like Operasia to access the robust Mainland economy and explore growth opportunities in Asia at large.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, warmly welcomed the establishment of Operasia in Hong Kong.

He pointed out that Hong Kong has the world’s largest international air cargo handler and the busiest container port. Half of the world’s population live within five hours’ flight time of Hong Kong. These advantages offer tremendous growth opportunities for companies in the industry.

“ With the implementation of CEPA in January 2004, the business flow between Hong Kong and the Pearl River Delta has intensified. The SAR Government is committed to continuously enhance the infrastructure and other resources to meet the rapidly growing demand. We are confident that Hong Kong will continue to serve as the natural springboard for companies seeking to expand in China or elsewhere in the region,” he said.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign direct investment.

End/Monday, 3 May, 2004


ZARA opens its first store in Hong Kong

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Investors continue to show confidence in the long term potential of the retail market in Hong Kong. Leading Spanish fashion brand ZARA announced the opening of its first store in Hong Kong.

The Managing Director of ZARA Asia Ltd., Mr David Konn, said, “We are very excited about the opening of our first store in Hong Kong. We are also extremely confident about the future business development here, and have already employed four managers and 50 staff for the shop. We also found the consumers here very sophisticated and receptive to fashion, which is one of the key considerations for leading brands like ZARA in deciding where to set up our business.”

“By applying the most advanced technology, we are able to offer reasonably priced items for our customers worldwide. We have more than 200 designers in-house, producing over 20,000 new items every year in order to stay on the top of the latest fashion trends. We renew our collections and ship new items for the Hong Kong store at least twice a week. All the essentials for successful sourcing are available here – a sophisticated supply chain system, quality of goods, expertise in fashion and textiles.” said Mr Konn.

The new ZARA shop will be opened officially tomorrow (21 May). It occupies a space of 15,000 sq ft at the ifc Mall, with interior design consistent with the latest ZARA layout worldwide. All interior furnishing and craftsmanship are from Spain. The shop will showcase a full collection for women, men, kids and new-borns, as well as accessories. ZARA has 640 stores in 47 countries, all situated in prime sites in the main commercial areas of cities across Europe, America and Asia.

ZARA belongs to Industria de Diseño Textil (“Inditex”), one of the largest fashion retail groups worldwide. The Spanish designer-cum-retailer has 2,000 shops in 49 countries under its six banners.

The Hong Kong store will also be the first wholly owned and managed ZARA store in Asia by its parent company Inditex. The Group has a long history in sourcing in the region through Hong Kong; it set up Inditex Asia Ltd in Hong Kong seven years ago as a sourcing office.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, congratulated ZARA on the opening of its first shop in Hong Kong.

He said, “Fashion retailers with high sales volume and ongoing restocking of products, like ZARA, count on a well-developed logistics structure to allow timely delivery of goods with highly controlled costs. The supply chain will also need to be flexible enough to adapt to any rapid change in industry trends. These are all the competitive advantages of Hong Kong, explaining why companies choose to set up their supply management base here for the region.

“Moreover, Hong Kong’s leading position as the freest economy in the world, a leading banking and financial centre in Asia-Pacific, developed transportation network, central location in the heart of Asia, as well as the known expertise in fashion and textiles industry – are key factors for successful just-in-time delivery required by today’s retail market.”

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here.

End/Thursday, 20 May 2004



Tuesday May 25, 10:02 PM
BNP To Open Desk In Asia To Meet Brazil Cos. Demand-Paper

SAO PAULO (Dow Jones)--The investment banking arm of France's BNP Paribas SA is opening up a desk in Hong Kong to meet demand for Brazilian corporate clients looking to invest or expand in Asia, according to local daily Valor Economico Tuesday.

The paper said the French banking heavyweight would launch its so-called Brazilian desk of operations in the coming weeks.

BNP Paribas is looking to boost fee income after advising iron ore giant Companhia Vale do Rio Doce SA (RIO), or CVRD, on setting up framework agreements to develop billion-dollar joint ventures with Chinese partners such as Shanghai Baosteel Group, said Valor. That deal was announced Monday.

The decision to launch the new desk comes at a time when Brazil is looking to deepen commercial ties with China.

China is Brazil's 3rd largest trade partner after the U.S. and Argentina, but Brazilian officials hope it will jump to the No. 2 spot this year.

Trade between the two countries has increased from $1.5 billion in 2000 to $6.7 billion in 2003 and growth in Brazilian exports to the Asian nation is accelerating: exports to China jumped 32.2% to $1.6 billion between January and April this year compared with the same period last year, Brazil's Trade and Development Ministry said.

At the moment, a Brazilian trade mission is in China, meeting officials there. During the trip a number of Brazilian companies have announced deals with Chinese businesses.

Aside from CVRD, Varig SA (VAGV4.BR) and Air China said they signed an agreement creating a joint venture that would allow for frequent travel between the two nations.

Tele Norte Leste Participacoes SA (TNE), or Telemar, said it signed a letter of intent with China Telecom (CHA) and China Mobile (CHL), setting up a service that allows for cheaper long-distance and mobile calls and roaming agreements.

ITU TELECOM WORLD 2006 to take place in Hong Kong, China

Geneva, 3 June 2004 — Following an evaluation of the final offers received from Geneva and Hong Kong on 28 May 2004, the Secretary-General of the International Telecommunication Union (ITU) Yoshio Utsumi has decided to confirm the recommendation of the ITU TELECOM Board to hold the next ITU TELECOM WORLD in 2006 in Hong Kong, China.

"Both Geneva and Hong Kong have made tremendous efforts to submit the most attractive offer for hosting the next ITU TELECOM WORLD event" said Mr Utsumi. "I am very grateful to both for their commitment to provide the best terms and conditions for the organization of the next World event", he added. "Despite significant cost reductions in both offers, the one from Hong Kong gives a clear and distinct advantage to both the event stakeholders and ITU".

At the request of the Geneva authorities, the ITU TELECOM Board, at its meeting of 5 May 2004, agreed to authorize Geneva to revise their offer. For transparency and fairplay, the Board also agreed to invite Hong Kong to review their bid. The deadline for the submission of the final bids was set for 28 May 2004.

The revised offers complemented the initial bids in that they were refining the terms and conditions for the various elements already submitted. All considered, the Hong Kong offer tops the Geneva bid with direct costs of between 30% to 50% lower in addition to a sizeable level of guaranteed sales by Chinese companies and lower indirect costs such as sub-contractor rates or hotel rates.

In view of the fact that there will be no event in Europe in 2006, ITU is also considering the possible organization of a European event — ITU TELECOM EUROPA. The first TELECOM EUROPA was held in 1992 in Budapest but was not staged again given that the World event was also taking place in Europe. The next world event is scheduled to take place in 2009, the venue of which will be selected following a new call for bids.

The ITU TELECOM Board is a body whose role is to provide strategic advice to the Secretary-General on ITU TELECOM events and who represent the views of all stakeholders to the events.

ITU TELECOM events were launched more than 30 years ago with the first World event being held in Geneva in 1971. The most recent world event brought together 911 exhibitors representing 51 countries were present with over 375 industry's CEOs and 148 government ministers and regulators participating in the event. Over 1 500 journalists including 300 broadcast media and more than 120 industry analysts were also accredited for the show.

Hong Kong rated world's freest economy ( 19/07/2004 )

Hong Kong remains the world's freest economy, according to the latest study conducted by the US' Cato Institute in conjunction with Canada's Fraser Institute.

According to the Economic Freedom of the World: 2004 Annual Report, the city scored 8.7 out of a total of 10 points topping Singapore's 8.6, which ranked second. They were followed by Switzerland, the UK and the US, which tied for third place.

China ranked 90 out of 123 nations for 2002, the most recent year for which data are available, according to the study.

Apart from the overall top ranking, Hong Kong also rated first in three other categories of the index - the size of government, freedom to trade internationally and regulation to labour, credit and business.

The findings of the international report followed closely on the heels of the overall economic freedom index rated by US think-tank, the Heritage Foundation, which ranked Hong Kong as the world's freest economy for the tenth straight year in 2004.

Financial Secretary Henry Tang said Hong Kong has been topping the world's freest economy list since the index of economic freedom was first published in 1996.

"A free market economy is the bedrock of Hong Kong's success. The Government will strive to maintain our institutional strengths including the rule of law, the free flow of capital and information, a level playing field, an efficient and corruption-free Government as well as a simple and low tax regime," added Mr Tang.

Related links
http://www.freetheworld.com/
http://www.heritage.org/

"Made by HK" - Local companies move up the value chain

Hong Kong is at the leading edge of a global revolution in supply chain management, according to managing director of Hong Kong-based multinational trading giant, Li & Fung, Dr William Fung.

Dr Fung was speaking at a recent Hong Kong Trade Development Council (TDC) luncheon during the organisation's annual Branch Director's Meeting in Hong Kong. He explained how the role of trading companies is changing, from a basic buying agency, to sourcing, to borderless manufacturing, to virtual manufacturing.

"The question now is how to add value," said Dr Fung. "Hong Kong companies are moving towards virtual manufacturing, which allows them to be more flexible and to coordinate everything on the supply chain management scale. This is what Li & Fung has done, and it's working for us."

Traditionally, Hong Kong's buying agents act as brokers matching customers with factories. Supply chain specialists like Li & Fung do far more than this. They juggle a multitude of tasks, including sourcing of raw materials at competitive prices, selection of prices that meet ethical compliance as well as capacity, arbitraging of process and exchange rates and handling of shipping and logistics - all to find an optimal solution for their customer.

"Products are not all made in one place these days. They are no longer made in Hong Kong but by Hong Kong," said Dr Fung.

"As I said, Hong Kong is the world's ideal place for supply chain management. What drives this region is China. And there are two concepts: China's role as the world's factory to supply the world, and China as one of the world's largest consumer markets. Hong Kong is both the window to look into China, and China's window for looking out," said Dr Fung.

"I'm extremely optimistic about the direction Hong Kong is taking," said Dr Fung. "Basically, if you look at the whole world, Hong Kong is the best place for sourcing.

South Korean shipping company relocates headquarters to Hong Kong

South Korean shipping company Cido Shipping announced the relocation of its headquarters to Hong Kong today (16 August).

The President of Cido Shipping (H.K.) Co. Ltd., Mr Hyuk Kwon, said the company was very excited about this strategic move.

According to Mr Kwon, the decision was made to enable the company to benefit from Hong Kong's leading position as an international shipping hub. He said that the company would have easier access to a variety of professional shipping related services, including ship finance and ship management.

The Head of Transportation at Invest Hong Kong, Mr Benjamin Wong, attended the opening ceremony and welcomed Cido Shipping's headquarters to Hong Kong.

The Hong Kong headquarters will also be responsible for co-ordinating businesses with the company's other operations in the region, including its ship management companies in Tokyo and Seoul.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

Ends/Monday, 16 August 2004

Visa-free access to Mexico granted

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Time to travel: United Mexican States Consul-General Mario Leal and Director of Immigration Lai Tung-kwok sign the Agreement on Abolition of Visa Requirements.

Hong Kong SAR passport holders can enjoy 90 days' visa-free access to Mexico from September 18. Visa-free access will also be provided to Mexicans visiting Hong Kong for up to 90 days.

Director of Immigration Lai Tung-kwok signed an Agreement on Abolition of Visa Requirements with the United Mexican States Consul-General Mario Leal today.

The signing means greater convenience for Hong Kong travellers and helps promote trade, business and tourism links between the two jurisdictions.

The country is the 132nd to grant visa-free access to HKSAR passport holders.

amazing news! Hong Kong is one of the places I must to see with my own eyes!! :)

Asia's largest timepiece show attracts 10% more buyers ( 06/09/2004 )

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This year's Hong Kong Watch & Clock Fair registered an increase of 10% buyers compared to last year with bright outlook predicted for next year

This year's Hong Kong Watch & Clock Fair registered an increase of 10% buyers compared to last year with bright outlook predicted for next year
All the graphs are up at Asia's largest timepiece show, Hong Kong Watch & Clock Fair, reinforcing Hong Kong's role as a global sourcing hub. Industry players at the five-day event which ended recently (5 September) expect a promising market outlook for the year ahead.

Buyers increased almost 10 per cent while overall overseas buyer attendance surged nearly 15 per cent. Visitors from Europe and the US jumped 13 per cent and 5 per cent respectively. The top ten visiting countries were from the Chinese mainland, Japan, US, Taiwan, Korea, India, Malaysia, Thailand, Singapore and Germany.

A survey conducted by independent market research company Oracle found that among buyers who source branded timepieces, 68 per cent of them are sourcing Hong Kong brands or are considering. They found Hong Kong brands are value for money, with higher product quality and good design.

Japanese buyer Ryuichiro Kosugi, managing director of The Japan Watch Importers Association whose members are often on the look-out for overseas brands to import to Japan, thinks that JWIA members should buy more products from Hong Kong. "Companies here can offer trendy products at a good price, of good quality, and with quick response. They are also very flexible on quantity."

Other vibrant fairs are coming in the second half of the year. These will include the autumn edition of the Hong Kong Electronics Fair (13-16 October), Restaurant & Bar Hong Kong (5 October), Interstoff Asia, International Lighting Fair and International Hardware and Home Improvement Fair ((27-30 Oct) and the Hong Kong Optical Fair (3-5 November)

Cool!
So many events happened in Hongkong that I don't know.
thank you for your hard working on this!
keep on updating!!

Thanks!

John Tsang to launch HK telecom show in Busan

Secretary for Commerce, Industry & Technology John Tsang will launch ITU TELECOM WORLD 2006 in Busan on September 8. The event will be held in Hong Kong in December 2006.

ITU TELECOM WORLD is the most prominent global telecommunications event held every three to four years. It is the first time it will be held outside Geneva since its inception in 1971.

Mr Tsang will meet Busan's Mayor Dr Hur Nam-sik and address a Busan Chamber of Commerce luncheon where he will brief Korean business leaders on Hong Kong's latest economic developments and the investment opportunities available under CEPA.

He will also visit some IT establishments to see the latest developments in the information and communications technology sector there, before returning to Hong Kong on September 9.

First Swiss law firm sets up in Hong Kong to serve clients around the world
Government Press Release

The first Swiss law firm in Hong Kong, S.G. FAFALEN & Co., celebrated its grand opening today (October 7).

Registered with The Law Society in Hong Kong, the firm provides Swiss and international legal, tax and trust services to private individuals and corporations. The office in Hong Kong will cover areas around the world - Western Europe, Eastern Europe and Asia.

According to Mr Serge G. Fafalen, who founded the law firm in Geneva, Switzerland in 1986, the firm's services are mainly targeted for high net-worth individuals and small and medium companies.

He said, "By setting up our office in the strategic location like Hong Kong, we can enjoy privileged access to clients in the Asian financial and banking centres and to the Asian low corporate and individual taxation jurisdictions. Considering all different factors including location, business-friendly environment for foreign service providers, accessibility to potential investors and the legal system, Hong Kong is simply the most ideal business location for us."

"Furthermore, Hong Kong, being part of China, provides an excellent gateway to the Mainland and in particular, to the booming regional economy in the Pearl River Delta. With the Closer Economic Partnership Arrangement (CEPA) implemented since the beginning of this year, our firm, as a registered law firm in Hong Kong, will enjoy tremendous business opportunities brought along with the increased activities in this region," Mr Fafalen added.

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, officiated at the opening ceremony with the Swiss Consul General in Hong Kong, Ambassador Francois Barras.

Mr Rowse welcomed S.G. FAFALEN & Co. to the city. He said, "Hong Kong's leading position as an international hub for services provide a win-win situation for service providers and their customers. Investors here have very easy access to a large pool of first-rate service providers from Hong Kong and all around the world. And at the same time, the highly concentrated business activities in the city create excellent prospects for service providers, and attract them to set up operations here - further enriching Hong Kong's role as a leading centre for services."

"We wish S.G. FAFALEN & Co. every success in future. We hope the firm's presence in Hong Kong will become another role model for foreign legal service providers with an interest in expanding in China and Asia," said Mr Rowse.

Located in Dina House, Ruttonjee Centre in Central, the firm will offer services in a variety of working languages, including English, Putonghua, Cantonese, Russian, French, Spanish, Italian and German. For more information about S.G. FAFALEN & Co., please visit http://www.swisslawyershongkong.com.

World business leaders meet in Hong Kong for Forbes Global CEO Conference

Over 350 top business executives and government leaders from all over the world gather in Hong Kong today (21 September) for the fourth annual Forbes Global CEO Conference to discuss current events, the global economy and the most important issues facing businesses under the theme “The Connected World”.

Invest Hong Kong is the host sponsor of this event. This is the second time that the Conference - one of the most prestigious global business events – is being held in Hong Kong.

The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, welcomed all participants to Hong Kong. He said, “We are pleased to see the return of the world’s top CEOs to Hong Kong. With the overwhelming number of participants visiting our city from the region, Europe and North America, we are certain that this year’s Conference, like the one held in Hong Kong two years ago, will be another great success.”

“The Conference taking place in our city reinforces Hong Kong as an international business centre where leaders exchange ideas and make important decisions.”

“Major high-profile international business events such as the Forbes CEO Conference provide excellent platforms to demonstrate our city’s attractiveness as a prime investment destination to business decision-makers worldwide,” he said.

On the Conference’s first evening, the Chief Executive of the Hong Kong Special Administrative Region, Tung Chee Hwa, will make welcoming remarks. The Governor of the People's Government of Guangdong Province, Huang Huahua, will also deliver remarks.

At “A Meeting of Minds” session, a discussion on the global impact of the US elections will be moderated by the President, CEO and Editor-in-Chief of Forbes, Steve Forbes.

At the three-day conference, business and political leaders will share their insights on crucial issues affecting the global marketplace in various themed sessions. Topics include the global economy, off-shoring, global branding, trends in transport and tourism, corporate governance and social responsibility, trade policies, the private sector in China, the CEO and technology and developing global cities.

The Secretary for Commerce, Industry and Technology, John Tsang, will participate in a panel on “Developing global cities: the road map to ‘hub’ status” at the closing lunch on 23 September. He will discuss Hong Kong’s role as a regional hub and a two-way platform for investment and trade.

Invest Hong Kong is the Hong Kong Special Administrative Region Government’s department charged with attracting and facilitating inward foreign investment into the city by providing companies all the support they need to establish or expand their business presence here.

End/Tuesday, 21 September, 2004

Copyright 2004 South China Morning Post Ltd.
October 13, 2004

Family of flair
Milan menswear label Altea is launching in Asia. Michele Sartori tells Albert Lo why it has chosen Hong Kong as its headquarters

ALTHOUGH HE'S SLIGHT of stature, Michele Sartori, co-owner and designer of Altea - the Italian tie, scarf and shirt company - is hard to miss, dressed as he is in a bright powder blue suit, white shirt, diagonally striped tie and a pair of sporty navy and white sneakers.

His handshake is firm and he speaks in heavily accented Italian as he offers a greeting, while stepping into his Altea boutique in IFC Mall.

"It's difficult to find a good, unique-coloured suit in a classic cut and shape," Sartori says. "We have the fabric, and so I got our factory to make it. I love trendy new colour combinations, but something that's still elegant and sophisticated."

And when creating for his company's range of accessories, it's this striking balance of the avant-garde with a sense of timelessness that has brought him success - and to Hong Kong for the first time to promote the only Altea boutique outside Europe. From one shop in Milan, the brand has expanded into an international company with more than 60 boutiques and shops-in-shops in France, with 28 global sales agents selling to more than 3,500 distributors, and representative offices in the world's largest cities: Paris, London, New York, Los Angeles and Tokyo.

Despite the strong growth, the century-old firm remains a family owned and run business. "I'm the fourth generation involved in the company, which was started in 1892 by my great-grandfather Giuseppe Sartori Snr," he says.

Like the ties and scarves Altea creates, the company's history is steeped in a colourful past. The firm began when Sartori Snr opened a shirt and tie shop. He won plenty of fans for his ties made of antique oriental brocades.

His son, Felice, took over the firm in the 1920s and enlisted the help of his own sons, Celeste and Giuseppe Jnr. The business flourished until the second world war, when the shop closed for several years.

"My grandfather Felice , father Celeste and my uncle Giuseppe, who returned home by crossing France on foot, reopened the business in 1947," he says. It was at this time that the Altea brand name was created - named after a flower, the Althaea officinalis.

"My father and my uncle really expanded the company," Sartori says. "My uncle began the export business, while my father travelled several million kilometres to visit his clients all over Italy. It was during the 1980s that my brother Luca and I joined the company, him on the business side and me taking care of creative developments. Now, it's just the two of us and I'm very lucky to have him involved."

It was only natural that Sartori would head the company's design department, given his artistic inclinations as a child. "When I was at school, I started to sketch, play around with colour and draw new ideas," he says.

"During any free time I had, I tried to find something new to wear, and I liked to mix and match things. But like any young guy back then, I didn't know what I wanted to do. All I knew was that I liked colours and enjoyed playing with them. So, I was very lucky to have my family's business and I naturally went into that."

Sartori has used his artistic sensibilities, enthusiasm and "go get 'em" attitude to further fuel the company's expansion, opening the first Altea boutique in 1994 in the Galeries Lafayette in Paris.

"When designing, my philosophy is 'nothing is impossible'," he says. "Everything is possible to weave and everything is possible to design. Any idea or pattern can be done."

To illustrate his point, Sartori says that more than 2,000 designs are created per season, with only half making the final cut.

"Normally, during the middle of the collection you start to feel that several colours stand out and you concentrate on those to develop the variations," he says, pointing to the unusual yet elegant combination of lilac and brown ties displayed on the shelves.

"Altea is sophisticated in its presentation of design and fabrics. Our customers will find a large collection that's always elegant, but looks different. Everything is designed and made in Italy. Even the cottons and wools are especially made for us by special mills. And I try everything on myself to make sure I'm comfortable with the fabric and combinations."

The Sartori brothers' design talent and business acumen have taken the Altea brand to new heights. "In the last 10 years, we've developed the business, and we chose Hong Kong to be the first market in Asia because we think the city is dynamic and interesting," Sartori says. "It's the most international city in Asia and a city of great importance. And we're obviously looking to expand into China the mainland and Japan, as well."

And whereas Sartori's designs now grace the shelves of the company's shops, they may soon be joined by those of his eldest daughter, 12-year-old Veronica, who is showing the same talents as her father. "She's very good in design," Sartori says. "When she was just a baby, maybe three or four years old, she preferred designing and sketching to playing. I hope she'll be working alongside me some day. I hope there'll be a fifth generation."

Joint Statement on MOU between Croatia and HK

Following is a joint statement on the signing of the Memorandum of Understanding on Cultural Cooperation between the Government of the Republic of Croatia and the Government of the Hong Kong Special Administrative Region:

The Government of the Republic of Croatia and the Government of the Hong Kong Special Administrative Region (HKSAR) signed the Memorandum of Understanding on Cultural Cooperation today (October 18) with a view to promoting and strengthening cooperation in the fields of culture, the arts and education. The memorandum was signed in the belief that such cooperation will contribute to the furtherance of mutual awareness, respect, understanding, harmony and friendship between their people.

In the future, both Governments will endeavour to strengthen mutual understanding in the field of culture and the arts, and to explore the possibilities of cultural cooperation. As a start, there will be exchange of exhibition catalogues on contemporary art between major museums and exchange of information on major performing troupes/artists of Croatia and Hong Kong. Other exchange activities being proposed include music exchange programmes in Hong Kong for visiting youth music groups from Croatia.

Ends/Monday, October 18, 2004

Wednesday October 20, 9:58 PM
WTO to hold ministerial meeting in Hong Kong in December 2005

(Kyodo) The World Trade Organization said Wednesday it will hold a six-day ministerial meeting in Hong Kong starting Dec. 13 next year.

At the sixth ministerial meeting member countries are likely to confirm the status of progress in negotiations and consider setting a new deadline to settle the Doha Round of trade liberalization talks, as it is expected to be very difficult to conclude the round at the Hong Kong meeting, trade sources said.

The Doha Round, which was launched in November 2001, has been deadlocked as developed and developing economies remain at odds over key issues ranging from tariff cuts to farm subsidies.

On Aug. 1, the WTO extended the deadline for the 147 WTO members to wrap up the Doha Round of talks for at least one year from the originally set Jan. 1, 2005 following the collapse of a WTO ministerial conference in September 2003 in Cancun, Mexico.

At that time, the WTO also decided it would hold a ministerial meeting in Hong Kong in December 2005.

October 30, 2004
HK-Czech ties bolstered

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Prague promotion: Czech President Vaclav Klaus greets Chief Secretary Donald Tsang.

Hong Kong and the Czech Republic have agreed to increase bilateral co-operation in culture, education and trade facilitation. Chief Secretary for Administration Donald Tsang says Hong Kong businesses are happy to help Czech enterprises enter the vast Mainland market.

Mr Tsang met with President Vaclav Klaus and other officials yesterday in Prague for bilateral talks.

During their meeting, Mr Tsang updated President Klaus on Hong Kong's economic performance, CEPA, increased economic co-operation with China's nine southern provinces, and last month's Legislative Council elections.

Mr Tsang said he was pleased that CzechInvest, the country's investment promotion agency, has established its Southeast Asian regional office in Hong Kong.

New opportunities

Both governments have agreed to facilitate trade and investment flow between the two places and will start to explore opportunities in negotiating an Investment Protection Agreement and a Double Taxation Agreement.

"Just as Hong Kong is a gateway for Czech companies going to the Mainland, the Czech Republic is a gateway for Hong Kong companies to go to the EU," Mr Tsang said.

Mr Tsang and the Czechs concurred that exploring a direct air link between Hong Kong and Prague will boost mutual tourism and investment.

In the area of criminal justice, Mr Tsang said good progress is being made towards finalising bilateral agreements on the Transfer of Sentenced Persons and on Mutual Legal Assistance. Negotiations on a Surrender of Fugitive Offenders Agreement are expected to begin soon.

Hong Kong Optical 2004 attracts record number of exhibitors
3/11/2004 17:00 Eastday

Hong Kong Optical 2004, one of Asia's most important trade platforms, opened Wednesday at the Hong Kong Convention and Exhibition Center.
Co-organized by Hong Kong Trade Development Council (TDC) and the Hong Kong Optical Manufacturers Association, the three-day fair has attracted a record number of exhibitors.

According to the TDC, over 520 companies from 19 different countries and regions exhibit at the fair. US exhibitors have for the first time set up their own pavilion in the fair.

In a bid to broaden the fair's international appeal, a special new zone "Visionaries of Style" featuring 10 international and local designer brands, enchants buyers on the lookout for branded eyewear.
The ever-popular "Hong Kong Eyewear Design Competition" is again held to promote originality in design.

"The competition will nurture creativity of the local optical industry and continue to breed local talents for the field," said Ng Hoi-ying, president of the Hong Kong Optical Manufacturers Association.

Hong Kong is the world's second largest exporter of spectacles, lens and frames after Italy and is the largest in Asia. Its exports of optical items in the first eight months of this year reached US$695 million, an increased of 18 percent over the same period last year.

October 28, 2004
CEPA aiding economic rebound: CS
Government Press Release

Initiatives like CEPA and the Mainland's Individual Visit Scheme have contributed to Hong Kong's recent economic rebound, Chief Secretary for Administration Donald Tsang says in Berlin.

On the third day of his nine-day trip to Europe, Mr Tsang met Germany's State Secretary for Foreign Affairs Jurgen Chrobog, the State Secretary in the Federal Ministry of Economics & Labour Dr Alfred Tacke and other officials.

"I am telling them how CEPA offers advantages to foreign investors seeking access to the Mainland market. In business, time is money, and CEPA can give them a step up on their competitors," he said.

One Country, Two Systems progress updated

Mr Tsang briefed the officials on the progress of the One Country, Two Systems concept.

"Hong Kong is contributing to our nation's economic development, while at the same time we continue to cherish the values that have made Hong Kong successful, such as the rule of law, the free flow of information, and a level playing field for business."

He also spoke on the work of the Constitutional Development Task Force, and its public consultations on ways to amend the methods for selecting the Chief Executive in 2007 and forming the Legislative Council in 2008.

Mr Tsang said both Hong Kong and Germany are eager to deepen academic exchange, and he welcomed a suggestion that more Hong Kong students consider studying at German universities.

HK-Germany bilateral trade up 19.1%

Germany was Hong Kong's biggest European trading partner last year, when bilateral trade posted impressive 19.1% growth. Trade between Hong Kong and Germany has continued to expand this year, growing 10.5% in the first eight months, year on year.

Hong Kong is home to 3,000 German nationals and over 500 German companies.

Canadian delegations to explore business opportunities in Hong Kong
Tuesday, November 9, 2004

Hong Kong's competitive advantages, its strengths as Asia's world city, and its outstanding infrastructures are some of the attractive factors that lure Canadian trade delegations - including the recent Team Mississauga, and the Manitoba Trade Mission - to Hong Kong for business opportunities.

Led by Mayor Hazel McCallion, the advance party of the 12-member "Team Mississauga - Mission to Hong Kong" left Toronto for Hong Kong this morning (November 8, Canada time) with a long sourcing list and initial proposals for collaboration with Hong Kong businesses.

The larger 30-member "Manitoba Trade Mission to China and Hong Kong", led by the Deputy Premier of Manitoba, the Hon Rosanne Wowchuk, left for Hong Kong last Friday (Canada time), trying to ride on the "first wave" to establish business connections there. The mission is supported by the Hong Kong Canada Business Association in Winnipeg. Both delegations will attend the annual Hong Kong Forum and the World Small and Medium Enterprises (SMEs) Expo to be held next week.

Organised by the Mississauga Board of Trade and Mississauga Board of Chinese Professionals & Businesses, and supported by the Mississauga Economic Development Office, Hong Kong Economic and Trade Office, and Hong Kong Trade Development Council, the "Team Mississauga" is Mayor Hazel McCallion's first official visit to Hong Kong.

"I'm excited about going to Hong Kong, the gateway to Mainland China, with this group of outstanding Mississauga business people. We'll explore business opportunities in Hong Kong, and try to gain faster access into the Mainland market through Hong Kong," she said.

The Mississauga delegation will stay in Hong Kong until November 18 (Hong Kong time). Members of both delegations will network and conduct business discussions with SMEs from Hong Kong, the Mainland and other parts of the world. They will also explore joint venture opportunities with their counterparts in Hong Kong.

Background
Formed in 1974, Mississauga is now recognized as Canada's 6th largest and fastest growing major city with a population of 624,000 residents representing cultures from around the world. It is located just west of Toronto.

Mississauga is home to Lester B. Pearson International Airport and the greatest concentration of major highways in the country, all of which position Mississauga to serve local, national and international markets and travelers. Local public transit is linked to Toronto and other neighbouring cities, offering a comprehensive network of bus, subway and commuter train routes.

Home to more than 18,000 businesses and a major employment centre within the GTA, Mississauga houses 50 of Canada's Fortune 500 offices providing residents with an opportunity to work close to home.

CE's speech at "Luxury 2004: The Lure of Asia" Conference
Government Press Release
Wednesday, December 1, 2004

Following is the welcome speech by the Chief Executive, Mr Tung Chee Hwa, at "Luxury 2004: The Lure of Asia" Conference organised by the International Herald Tribune at Grand Hyatt Hotel this morning (December 1):

Thank you very much, Michael, friends, ladies and gentlemen,

I am delighted and honoured to be here this morning. I feel I have not dressed properly. My suit, my tie, among all these great designers, I feel really out of place. But I would like to take this opportunity to welcome everyone to Hong Kong. I'll like to thank Michael, the International Herald Tribune, and particularly Suzy, for assembling such a wonderful group of people, so many talented owners and designers of brand names from all around the world to come to Hong Kong and to attend this gathering. It is a unique honour for us here. For those first-time visitors, and those who have not been here for a while, I hope you get a chance to see, hear and taste some of the excitement we have to offer these days, and to fully experience the theme of this conference - "The lure of Asia".

We're delighted that the International Herald Tribune has chosen Hong Kong for the first Luxury Conference outside Paris, and we hope you'll be back for many more. This kind of event fuels the growing buzz around our unique energetic city. It also creates economic activity, and so contributes to a better life for all Hong Kong citizens.

Our city is a dynamic metropolis. We have come through a difficult period of economic restructuring and are now enjoying a strong recovery, thanks to the resilience that Hong Kong people are famous for. We are an industrious and entrepreneurial society, good at seizing opportunities, eager to take risks to get ahead, but we are also a caring and compassionate society, and ready and willing to help out the less fortunate in our community if they slip through the safety net.

Among our population of 6.8 million, a few hundred thousand are foreign nationals. Indeed, Hong Kong's congregation of expats highlights our international dimension and spices up our diversity. Our history, culture and people, the best of the East meeting the West, have produced the sophisticated and cosmopolitan city you see today - Asia's world city.

The people of this city are avid consumers of luxury goods, with sophisticated and discriminating tastes. Hong Kong people work hard, and they want to enjoy the fruits of their labour. So they have a big appetite for the luxury lifestyle: homes, cars, clubs, holidays, clothing, accessories, gourmet food and wine. Take a walk around Victoria Peak - you could call that a "lap of luxury".

Hong Kong has the highest ownership rate of Rolls-Royce and Mercedes-Benz cars on Earth. We are a leading importer of cognac. And we buy and sell with equal enthusiasm. Hong Kong is the world's second-largest exporter of garments, travel goods, handbags, watches and fur clothing, and the third-largest exporter of fine jewellery.

We are also one of the world's great tourist destinations. The number of tourist arrivals has doubled since 1997 to some 20 million this year, and it's expected to keep growing by leaps and bounds and reach 35 million by 2010. Among our many attractions, the one that draws many tourists to Hong Kong is our well-deserved reputation as a shoppers' paradise.

This distinction is certainly not lost on our compatriots to the north. As people on the Mainland acquire more disposable income and they are becoming increasingly prominent in the high-end boutiques of the Central and other parts of Hong Kong.

Many of the world's best-known fashion names have established their Asian headquarters or Asian flagship stores in Hong Kong. The IHT this week described our Central district as "Fifth Avenue of the Far East" because it has the world's highest concentration of top international labels. Increasingly, global retailers are using our city as their platform for developing brand recognition in this region, and especially for penetrating the biggest prize of all - that vast Mainland market of 1.3 billion people. With retail sales and tourist arrivals both growing robustly here, we expect more and more brands to choose Hong Kong as their Asian showcase.

Why else do international companies set up here? Among the many reasons: the rule of law, upheld by an independent judiciary; the free flow of information; the movement of people; free flow of capital; a low and simple tax system; a clean civil service; and a level playing field for all businesses. There's also CEPA, our free-trade arrangement with the Mainland, which enables multi-national companies to use Hong Kong to gain faster and greater access to the Mainland market. In particular, CEPA can be very useful for the makers of brand-name goods or products to achieve this purpose if they are here in Hong Kong.

Besides being a leading international financial, trade and business services hub, Hong Kong is also a major conference centre. This Luxury 2004 event confirms that status. Over the next couple of years, Hong Kong will be welcoming a wide range of convention-goers, from Interpol officers to international meteorologists. Next June, the Lions Clubs International Convention will bring 20,000 delegates from 110 countries. Hong Kong is the only place outside the US to host the Lions Conference twice. Later next year, the Sixth World Trade Organisation Ministerial Conference will be held in Hong Kong, a privilege that underlines Hong Kong's status as a founding member of the WTO. And two years from now, the International Telecommunication Union will hold ITU Telecom World 2006 here. It will be the first time the ITU has held the world's premier telecom event outside Geneva. We're expecting 100,000 visitors for that one, which will be held in the new Asia World-Expo conference centre being built next to our award-winning airport.

Hong Kong has a rich cultural life, too, and we are nurturing our creative industries, be it in music, movies and digital entertainment. We will focus our efforts to develop fashion design, particularly to develop our full artistic potential when it comes to understanding Chinese tastes. Hong Kong has also become the hub for Asian art transactions, with Sotheby's and Christie's both holding highly successful auctions here only last month.

As for intellectual property, we understand how valuable a brand is, in both creative and business terms. That's why we work hard to protect intellectual property, and we have the legal framework to do so, backed by vigorous enforcement and continuous public education. And I know, speaking with Mr Bernard Arnault yesterday, I know that more work needs to be done here in Hong Kong. I just want to assure you we will spare no effort in protecting intellectual property. We are not perfect. We are working very hard at it. After all, it is important to us. Hong Kong also has its own distinctive brand, "Asia's world city" and our Flying Dragon, which symbolise what we are and what we are trying to accomplish.

Ladies and gentlemen, Hong Kong is strategically situated in the heart of Asia. We are within a five-hour flight of half of the world's population. The fact is that Hong Kong is at the centre of the fastest growing region in the world, a region with high savings rates and increasingly affluent populations. And when it comes to China, which will become one of the largest economies in the world by 2020, nobody has done business there longer than Hong Kong, nobody knows that market better than Hong Kong, and nobody is better connected there than Hong Kong. In the years to come, we will look forward to welcoming you to Hong Kong as a tourist, as a businessman, or as a new resident to see the progress we will be making as Asia takes off.

Michael and Suzy, I want to thank you and the IHT for holding this very prestigious conference in Hong Kong for the first time. Your support will encourage us to work even harder to strengthen and enrich our position as Asia's world city.

Ladies and gentlemen, let me conclude by wishing all of you every success in the future. I hope those of you who are visiting Hong Kong enjoy your stay in this vibrant city, and that you manage to squeeze in some sightseeing between all your shopping.

Thank you very much.

Mississauga Mayor says HK a perfect gateway to Mainland market
Government Press Release
Thursday, December 2, 2004

Mayor Hazel McCallion of the City of Mississauga today (December 1, Canada time) encouraged Canadian small and medium enterprises to use Hong Kong as a gateway to the flourishing Mainland China market, because "by doing so a lot of business risks would be eliminated".

She said Canadian businesses could enjoy the protection under Hong Kong's legal system such as the arbitration clause for contracts if the business deals were going through Hong Kong. At the same time, Canada-Hong Kong joint ventures could benefit from the CEPA (Closer Economic Partnership Arrangement) -- the landmark free trade agreement between the Mainland and Hong Kong, which provides foreign companies with liberated access to Mainland market.

"You would not be able to enjoy all these benefits if you deal directly with the Mainland without going through Hong Kong," was the message Mayor McCallion conveyed to Canadian businesses at a media briefing after her 10-day visit to Hong Kong.

The Mayor, who led a 12-member "Team Mississauga" trade mission to Hong Kong in November, shared her first-hand experience with Asia's world city upon her return to Canada. She described her trip as "informative" and a "wonderful experience".

"I got an excellent picture of how Hong Kong now relates to the Mainland after 1997," she said.

She said the Canadian government should promote more Canadian investments in the Mainland through Hong Kong as Hong Kong was an "active and vibrant economy" in the world, and there were a lot in Hong Kong that the Canadian government could learn from.

The Mayor cited Hong Kong's very efficient public transit system and the widely used "Smart Card" as typical examples. "I've told the Ontario Transport Minister about that, and ask him to learn from Hong Kong," she said.

The highlights of "Team Mississauga" activities in Hong Kong included attending the Hong Kong Forum and the World SME (Small and medium enterprises) Expo organised by the Hong Kong Trade Development Council. More than 1,000 business people from 30 countries and regions came to these two events, while there were about 3,000 Mainland enterprises with representatives attending.

According to Acting Director of the Hong Kong Economic & Trade Office (Canada) Francis Ho, who co-ordinated the delegation's trip to Hong Kong together with the Hong Kong Canada Business Association, Canada had the largest contingent among all countries to last November's Hong Kong Forum - 109 of the 350 delegates were from Canada. The largest 30-member Canadian delegation was from Manitoba, led by its Deputy Premier Rosanne Wowchuk.

"These delegations have opened the curtain for the upcoming visit to Hong Kong by Team Canada led by Prime Minister Paul Martin, and a Canadian trade delegation to Hong Kong next January led by the federal International Trade Minister James Peterson," Mr Ho said. "They all understand the importance of Hong Kong's middle-man's role."

"It was nice to have people like Mayor McCallion and Deputy Premier Wowchuk to ride on the 'first wave' so that they could spread the message to the Canadian business community," Mr Ho said. "We'll be seeing more success stories in the pipeline."

"Team Mississauga" was organised by the Mississauga Board of Trade and Mississauga Board of Chinese Professionals & Businesses, and supported by the Mississauga Economic Development Office.

December 21, 2004
Government Press Release
Asian intelligence heads meet in HK

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Crime busters: Director of Crime & Security Tang Hau-sing presents a souvenir to the Australian Federal Police Intelligence Unit's Ian Houghton at the third Asia Heads of Criminal Intelligence Workshop.

Thirty-eight delegates and observers from 24 agencies in 17 countries met at the third Asia Heads of Criminal Intelligence Workshop in Hong Kong from November 30 to December 2 to discuss intelligence issues of mutual concern.

The Police Force and the Australian Federal Police co-hosted the event, which followed similar successful gatherings in Thailand and Malaysia.

The theme of the working group was "From Co-operation to Coalition: Building Effective and Multi-Jurisdiction Intelligence Sharing".

Major objectives

The working group's objectives included:
* developing a regional criminal intelligence capability;
* initiating joint strategic criminal intelligence projects; and
* enhancing understanding of regional counterparts' operating environments.

Commissioner of Police Dick Lee and Australian Federal Police National Manager of Intelligence Dr Grant Wardlaw presided over the opening ceremony.

In his opening address, Mr Lee highlighted the dangers that trans-national criminals pose to society and described the pivotal role that intelligence agencies play in combating the dangers.

Intelligence plays an important role

He also stressed the importance of intelligence-led policing, strategic thinking and closer co-operation between law-enforcement agencies in Asia and the rest of the world.

Dr Wardlaw shared Mr Lee's sentiments and stressed the need for participating agencies to continue developing and refining relationships, as well as the need to share experience, skills and resources.

Dr Wardlaw emphasised the need to develop new intelligence and investigative methods to keep pace with emerging criminals' challenges.

During the three-day working group meeting the Singapore Police Force, National Police Agency of Japan, Australian Federal Police, Royal Canadian Mounted Police, Interpol General Secretariat and the Force gave presentations on strategic intelligence.

Workshops help develop the way forward

Several workshops were also held to help develop the way forward.

At the conclusion of an intensive three-day exchange, Ian Houghton of the Australian Federal Police's Intelligence Unit summarised what the working group had achieved and the broad agreements that had been reached.

In some areas, development needs and projects were identified. The results will be reviewed at the next working group meeting slated to be held in Singapore in 2005.

^^^Thats a shady meeting^^^ ;)

Southeast Asia-funded business centre aggressively expands in Hong Kong
January 7, 2005

A Southeast Asia-based provider of professional office solutions, Bridges Executive Centre, announced today (January 7) that it has set up its second executive centre in Central, Hong Kong. The new centre occupies a floor area of more than 10,000 square feet and comprises 40 furnished executive suites and conference rooms.

By expanding its operation here, the company has made Hong Kong its Asia-Pacific base and springboard into the regional market.

The Managing Director of Bridges Executive Centre, Ms Fion Sen, said, "Hong Kong commands a central location for our clients and is the gateway to China, a key growth market for Bridges. The territory's strengths in supply chain, infrastructure, communications, finance, technology -together with its international lifestyle - make Hong Kong a perfect location for starting a business."

Ms Sen added, "Hong Kong is renowned for its economic freedom and political stability. The Mainland-Hong Kong Closer Economic Partnership Arrangement (CEPA) has added many advantages which attract worldwide enterprises to set up here. By leveraging on our services, companies can minimise their office overheads and focus their resources on their core business for better efficiency and competitiveness."

After the establishment of its second executive centre in Hong Kong, the company plans to expand further in the Asia-Pacific region by entering the Shanghai, Beijing and Singapore markets in the next three years.

At the opening ceremony, the Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, welcomed the company's business expansion in Hong Kong.

He said,"Hong Kong is Asia's premier business capital. More than 3,600 foreign enterprises have their regional operations here, in addition to numerous local SMEs and large corporations. We welcome the expansion of business centres such as Bridges as this adds to the pool of business and professional service suppliers in Hong Kong. We look forward to seeing more Bridges Executive Centres setting up in Hong Kong in the near future."

Owned by a group of Singaporean and Malaysian investors, Bridges Executive Centre was first established in Hong Kong in 2003. It provides professional office solutions to a wide range of clientele, including local and overseas companies in the finance, IT, consulting, human resource sectors.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating foreign investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

Biotechnology pioneer expands Asia-Pacific regional operation in Hong Kong
February 26, 2005
Government Press Release

One of the world's leading biotechnology companies, Genzyme, announced the expansion of its Asia-Pacific regional office in Hong Kong today (26 Feb).

Headquartered in Massachusetts, the US company develops and applies advanced technologies in the life sciences. It provides products and services related to rare inherited disorders, kidney disease, cancer, transplants and immune diseases in more than 80 countries.

The expanded Hong Kong office will oversee sales and liaison activities in the region, including the ASEAN countries, Taiwan and Korea. It also will serve as a regional hub for business and medical information and strategic support.

"Asia is one of the fastest growing areas for Genzyme, and Hong Kong is an important regional centre," said Vice President and General Manager of Genzyme Asia-Pacific, Mr Dick Meijer. "We are optimistic about Genzyme's future in Hong Kong and look forward to working with our stakeholders to make our products available to more patients in this region."

The Nasdaq-listed company runs 14 manufacturing facilities and nine genetic testing laboratories. It employs nearly 7,000 employees worldwide and generates an annual revenue exceeding US$2 billion.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, welcomed Genzyme's increased commitment in Hong Kong. He said, "The diverse medical community here favours the establishment of Genzyme's regional office which can be used to organise conferences and education seminars. With Hong Kong¡¦s pro-business environment, its high per capita income and support provided by its people to health-related organisations, Genzyme will be able to leverage on the city¡¦s market potential"

He continued, "Our Government is committed to strengthening Hong Kong's position as a hub for the biotechnology industry and this commitment by Genzyme, an industry leader, acknowledges our strengths in this area. We are committed to creating an environment conducive to the development and commercialisation of the biotechnology industry and to providing the necessary physical, human and technological infrastructure supporting applied R&D. Hong Kong plays an effective bridging and co-ordinating role for overseas companies to explore the huge biomedical and healthcare markets in Asia."

Dutch electronics giant casts vote of confidence ( 01/03/2005 )

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President and CEO of Philips Electronics Asia Pacific, Andreas Wente, said the Hong Kong Science Park and Three Pacific Place perfectly match the company's belief in technological innovation

Dutch giant Royal Philips Electronics has cast a vote of confidence in Hong Kong by relocating its regional headquarters as well as global headquarters of some of its business divisions to the city.

Philips launched a new six-storey building at the Hong Kong Science and Technology Park (HKSTP) becoming its first major multinational corporate tenant. It moved its Asia Pacific headquarters from Singapore to Hong Kong, locating it to a new regional base at swanky office premise, Three Pacific Place.

"This represents a vote of confidence in the future of Hong Kong," said president and CEO of Philips Electronics Asia Pacific, Andreas Wente. "It also reflects Philips' long-term commitment to Hong Kong and the Asia Pacific region, and to investing in people and cutting edge technology."

He added that Philips found Hong Kong's pro-business environment favourable to the company's business strategies, supported as it is by a well-developed legal and financial infrastructure. Hong Kong's central location in Asia Pacific and proximity to the company's manufacturing base in southern China are added advantages.

World's largest design centre

Philips set up its Asia Pacific office for Philips Design at HKSTP, which now provides its largest design studio in the world with a floor area of 89,000 square feet. HKSTP is also the global headquarters for its consumer electronics audio-visual electronics business, mobile infotainment and its small display unit, Mobile Display Systems.

Mr Wente said setting up the new offices in Hong Kong which will oversee the company's manufacturing facilities in the Chinese mainland, also supported Philips' strategy to sharpen its focus on Asia Pacific where sales last year grew 17 per cent year on year.

"We aim to exceed the planned double-digit growth in the region in 2005," he added. "Further down the road, we're striving to generate 33 per cent of Philips' total global revenue from the Asia Pacific with focus on our three pillars of healthcare, lifestyle and technology."

Global leader in wearable computer technology establishes Asia-Pacific regional base in Hong Kong
Tuesday, March 1, 2005
Government Press Release

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Invest Hong Kong, an investment promotion agency based in Hong Kong, formally welcomed Xybernaut Corporation as the company opened its Asia-Pacific regional office in Hong Kong today (March 1).

Xybernaut is a US-based provider of mobile/wearable computing hardware, software and solution services. The company's Hong Kong office, Xybernaut China Limited, is a joint venture company formed by Softbank Investment International and Xybernaut Corporation. It is tasked to promoting Xybernaut sales and marketing activities in the Asia-Pacific region, except Japan and Korea. Xybernaut China was granted the exclusive right to manufacture, market and sell Xybernaut products, solutions and intellectual property throughout the Mainland market. Other offices are located in Beijing and Shenzhen.

The Chairman and CEO of Xybernaut Corporation, Mr Edward G Newman, said, "Hong Kong has clearly emerged as one of the strongest economic, financial and cultural hubs in Asia and perhaps the world. Hence we are keenly interested in leveraging Hong Kong's advantages as a centre for research, development and investment in cutting edge computing and communications technologies."

"We will make use of Hong Kong as an integral part of our efforts to extend our intellectual property, know-how, systems and solutions in the region," stressed Mr Newman.

He highly regards the city's free trade efforts, low taxation, well-defined legal system and world-class professional services ¡V but finds Hong Kong's role in bridging the gap between the Mainland and overseas markets especially appealing.

"Hong Kong will be a gateway for Xybernaut not only to the Mainland China market, but also the anchor for other key markets in the Pacific region. The Hong Kong operation will likely be enlarged as we expand further into other regional markets," added Mr Newman.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, welcomed the Xybernaut new venture to Hong Kong.

"The presence of Xybernaut in Hong Kong once again affirms our position as both an IT hub and a premier business centre in the region. With Hong Kong's strong capability and experience in commercialising and marketing advanced technology, Xybernaut is well positioned to launch its products and services into Asia-Pacific, the fastest growing regional market in the world," said Mr Rutherford.

About Xybernaut

Xybernaut Corporation is a leading provider of wearable/mobile computing hardware, software and services, bringing communications and full-function computing power in a hands-free design to people when and where they need it. Headquartered in Fairfax, Virginia, Xybernaut has offices and subsidiaries in Europe (Benelux, Germany, UK) and Asia (Japan, China, Korea).

Hong Kong's large talent pool attracts professional staffing firm to set up Asian base
Friday, March 4, 2005
Government Press Release

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The availability of professional talent in Hong Kong has attracted a global professional staffing firm to set up its first Asian operation in the city. Headquartered in Switzerland, a-connect announced today (March 4) that the company has chosen Hong Kong for its regional headquarters.

Located at One International Finance Centre, a-connect (China) Ltd will bring its new and unique services to Hong Kong-helping clients in-source professional talent on a project basis.

"We chose Hong Kong as the best place to set up our first Asian operations," One of the partners of a-Connect (China) Ltd, Mr Marcel Pordes, said. "There is a large pool of professional talent in Hong Kong, allowing us to serve our international clients and help them execute challenging projects in the region. Hong Kong also provides an ideal base of operations due to its good infrastructure and attractive tax base."

Part of a-connect's global network, the new Hong Kong office will be responsible for building the company's business in Asia, recruiting top talent to add to its pool of independent professionals and managing projects in Asia. The team in Hong Kong will manage its business in China and the Asia Pacific region.

Dr Dominic Chan, another a-connect partner based in Hong Kong said the firm was very excited to see the tremendous business opportunities in Hong Kong and in the region. "Our Independent Professional model works very well in situations which require flexible and effective utilisation of experienced professionals. These include such areas as business building, growth strategies, due diligence, post merger integration, globalisation, supply-chain and change management," Dr Chan said.

According to Dr Chan, the Hong Kong-based office would actively look for top talent with an MBA or equivalent degree from a top tier university, who had solid experience of working in blue chip consulting firms and in senior management roles in leading companies, or had successfully built their own businesses. The company plans to expand its network to other cities next year.

Invest Hong Kong assisted the company in setting up its operation in Hong Kong. In welcoming a-connect's investment into Hong Kong, the Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, said that from Invest Hong Kong's experience in dealing with foreign investors, the quality and supply of human resources was one of the key considerations when selecting a business location. "We are delighted to see that the high standard of management and professional services in Hong Kong has once again been endorsed by leaders in the talent sourcing business," Mr Galpin said.

"The innovative services offered by a-connect will also increase the flexibility of engaging professional staff for specific projects. We at Invest Hong Kong wish a-connect every success with their business development in Hong Kong and expansion in the region."

Founded in 2002 by two former McKinsey partners - Hanne de Mora and Nils Hagander - a-connect now has offices in Zurich, Boston, and Hong Kong. The company has about 200 talented professionals in its network globally, that are ready for instant deployment when a client makes a request for specific project-based needs. For more information, please visit the website at www.a-connect.com.

Cayman Islands Investment Bureau launched in Hong Kong
Tuesday, March 15, 2005
Government Press Release

The Cayman Islands Government announced the launch of the new Cayman Islands Investment Bureau (CIIB) office in Hong Kong today (March 15). The opening of a CIIB office in Hong Kong is designed to foster closer links between the Cayman Islands and Hong Kong, and the wider Southeast Asian region.

With the new Hong Kong office, the bureau now has a presence in three major world cities - London, New York and Hong Kong. Expanding the CIIB network and ensuring that the Cayman Islands is represented in key regions around the world has been a priority for CIIB.

The Leader of Government Business, the Hon McKeeva Bush OBE JP, gave the keynote speech, explaining the benefits that the Cayman Islands offer to Hong Kong investors. Mr Bush also identified the links between the two places.

"We have many friends in Hong Kong," Mr Bush said. "Our two homes have a lot in common - we are both small, punch above our geographic size on the international stage and have thriving financial services and tourism sectors."

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse attended the launch and welcomed the establishment of CIIB's new office on behalf of the Hong Kong SAR Government.

"We are very pleased that CIIB has decided to establish its Asia Pacific office here. CIIB's choice reinforces Hong Kong as the location of choice for international organisations to manage their regional operations. Our position as a leading financial centre and tourism destination clearly adds to our city's appeal to government promotion agencies such as CIIB," Mr Rowse said.

"The Cayman Islands already are one of the top sources of inward investment in Hong Kong. We look forward to working with CIIB to expand the close relationship that should benefit both of us," he said.

At the opening reception, Mr Bush also paid tribute to Invest Hong Kong for its assistance in organising the launch, and expected future co-operation opportunities between CIIB and Invest Hong Kong.

The CIIB's mission is to encourage economic growth, diversification through industry development, job creation and investment from foreign markets. The new office is being established to provide a one-stop shop for investors in the Cayman Islands. It will assist investors in pulling together the necessary contacts and resources to help accelerate the investment approval process.

"My Government is constantly thinking of new ways to diversify and strengthen our economy, to provide more jobs and greater security for Caymanians. This new office is another important stage in this process. We look forward to seeing the benefits of this office in the months and years ahead," Mr Bush said.

International laboratory for gemstones and jewellery established in Hong Kong
Thursday, March 17, 2005
Government Press Release

The International Gemological Institute (IGI), one of the world's authorities on independent certification and valuation of gemstones and fine jewellery has opened a 2,600 sq ft laboratory in Central. The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, paid a courtesy visit to the laboratory today (March 17).

IGI Hong Kong provides diamond and gemstone identification, certification and grading reports for diamond traders, jewellery manufacturers, retailers and consumers. The laboratory is equipped with the most advanced screening and identification instruments. Together with the expertise of its Belgium-trained local Gemologists, the Institute offers independent certification services for its Asian-Pacific clientele.

Explaining IGI's choice to set up in Hong Kong, the CEO of IGI Hong Kong, Mr Marc Brauner said, "The absence of an internationally recognised laboratory on the Hong Kong soil was apparently not acceptable any longer to the local trade, thus we responded to the needs of the local trade. Furthermore, we have established a worldwide network of laboratories in eight major cities. Hong Kong is a strategic location that we cannot afford to miss on the world map."

"Hong Kong is a tax-friendly city. Its multi-dimensional, vibrant and creative elements are conducive to foreign businesses establishing their overseas presence here. Hong Kong is also the best place to test something new, since people here are open-minded about new products and services. With Hong Kong's high living standard and the influx of Mainland travelers, the jewellery business in Hong Kong is flourishing. This favourable situation has created additional demand for internationally recognised services of quality certification for gemstones and jewellery," said Mr Brauner.

He revealed that the demand for IGI Hong Kong's services to date has exceeded initial expectations since their launch in November 2004. The existing operation will be enlarged, followed by plans to access the Mainland in due course.

"CEPA [Closer Economic Partnership Arrangement] has given our Hong Kong operation a competitive edge. Fine jewellery made in Hong Kong now enjoys duty-free access to the Mainland market. It offers a big incentive for jewellery traders to engage value-added services here so as to qualify for CEPA's rules of origin. Hence, CEPA serves as a catalyst to our business development in Hong Kong."

During the courtesy visit, Mr Galpin congratulated IGI Hong Kong on its success and wished them brighter prospects ahead.

"Hong Kong is the world's third largest exporter of precious jewellery and has long been renowned for its quality design capability. Being the luxury retail capital of Asia, Hong Kong offers a huge choice of beautiful jewellery pieces to customers and trade buyers. Hong Kong also provides quality testing services from professional institutions such as IGI. While there is a strong cluster of jewellery industry players in Hong Kong, IGI's presence here will further enhance our position as the regional hub for luxury goods and professional services," said Mr Galpin.

Founded in Belgium in 1975, IGI has over 450 staff serving jewellery industry across the globe. Its laboratories are located in Antwerp, New York, Toronto, Los Angeles, Bangkok, Mumbai, Tokyo, Dubai and Hong Kong. It can be reached at www.igiworldwide.com.

Okinawa Prefectural Government strengthens presence in Hong Kong
Monday, March 21, 2005
Government Press Release

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The Okinawa Prefectural Government announced today (March 21) the opening of its first independent Hong Kong Representative Office. As a unit directly under the department of Commerce, Industry and Labour of the Okinawa Prefectural Government, the Hong Kong Representative Office will play a strategically important role in the economic development of the prefecture.

The Director of the Hong Kong Representative Office of Okinawa Prefectural Government, Mr Shimura Masato, said, "We are excited about our new establishment in Hong Kong - a true international financial centre in Asia. As a free port, Hong Kong serves as the natural gateway for Japanese companies to access South East Asia and China. Its mature business environment has also made it easy for foreign businesses and organisations like us to collect the latest and most accurate market information from around the world."

According to Mr Masato, the office will support Okinawan companies actively conducting business in foreign countries and facilitate foreign trade with the Prefecture, as its economy develops. To help Okinawan companies identify business opportunities in the region, the Hong Kong office will be responsible for collecting market information for the Prefectural Government. The office will also conduct promotion activities -- including marketing Okinawa products, business promotion, tourism promotion and cultural exchange.

Mr Shimura said, "We look forward to working closely with the local community in Hong Kong and facilitating different kinds of exchanges between Okinawa and Hong Kong. With our office here, we will continue to encourage tourist activities between the two places and to raise market penetration of Okinawa products in Hong Kong's consumer market."

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, paid a courtesy visit today to Okinawa Prefecture's new Hong Kong Representative Office. He said, "We warmly welcome Okinawa Prefectural Government strengthening their presence here to assist investment and tourism activities between Okinawa and Hong Kong. Our city offers a wide variety of business opportunities for Okinawan investors - ranging from tourism and entertainment to consumer goods. We will maintain our close relationship with the Representative Office here to help establish more Okinawan companies in Hong Kong."

The new Okinawa Prefectural Government office is located inside Japan National Tourist Organisation (JNTO) in Dorset House at Taikoo Place. For more information, please visit Okinawa's website at www.pref.okinawa.jp.

Leading IT company aggressively expands global base in Hong Kong
Tuesday, March 22, 2005
Government Press Release

Artificial Life, Inc, a pioneer in artificial intelligence and intelligent agent/smart bot technology, officially announced today (March 22) the expansion of its global headquarters in Hong Kong. It plans to recruit up to 100 research and development staff this year to further expand its existing team of 60.

The Chief Executive Officer of Artificial Life, Inc, Mr Eberhard Schoneburg, said, "Hong Kong is the Asia hub for the mobile and telecommunications industries. It serves as a perfect base for a mobile content and technology development company like ours. The keen competition among local telecom operators provides a favourable launch and testing ground for our mobile applications. Our expansion plans here are also fuelled by a large pool of high quality and competitive graduates from local universities and institutions with hands-on experience in 3D animation and Java programming."

Artificial Life was founded in Boston, USA in 1993 and is a NASDAQ-listed company. It relocated and established its global headquarters in Hong Kong in April 2002. The Hong Kong office has operated as the global headquarters and as the research and development centre, developing and maintaining the company's core artificial intelligence and mobile technology, as well as providing technical support for the local and South East Asian markets. Global sales and marketing activities are also partially carried out through the Hong Kong office. The company has its European headquarters in Amsterdam and data centres in Singapore, Malaysia and India.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, congratulated Artificial Life on its expansion in Hong Kong.

"We are delighted that this technology leader has chosen Hong Kong to site its world headquarters and this expansion confirms the company made the right choice. With Hong Kong's highly competitive mobile telephone environment which includes a subscriber penetration rate of 118%, Artificial Life has clearly made the right choice to commit further in Hong Kong. Based on the high profile success achieved here, the company will be able to leverage its position to access other exciting markets in Asia and elsewhere. We also hope that the company's expertise in the design and development of mobile applications - created by Hong Kong-born talent - will enrich and foster our creative industry and serve as a catalyst to encourage other overseas hi-tech companies to carry out development work here." said Mr Rutherford.

Corporate finance specialist selects Hong Kong for its first office outside Italy
Wednesday, March 23, 2005

Italian-based specialist corporate finance boutique - Arietti & Partners - announced today (March 23) that the firm has opened an office in Hong Kong's Bank of China Tower.

The Hong Kong office will be run by Andrew Pawley, a British barrister who has been with the Arietti Group for over four years. Mr Pawley explained why Ariette & Partners has chosen to come to Hong Kong. He said, "Hong Kong represents the gateway to the world's most dynamic and fast-growing region. Finance companies look for entrepreneurial people and free markets. Hong Kong offers that and more."

Arietti & Partners is a full service corporate finance boutique specialising in mid-market transactions. It offers clients both origination and transaction support services. Further, it also has a group offering placement services to financial investors.

Mr Pawley also said, "Our focus will be on helping Hong Kong companies identify and approach European operators with a view to creating commercial relationships, Joint Ventures, or just acquiring them outright. At the same time, we are happy to help local Private Equity fund managers raise capital in from the European Institutions and HNWIs with whom we deal on a daily basis. There has already been a steady trickle of Hong Kong and Chinese companies acquiring Italian businesses and that is a trend that can only increase."

"However, it is very important to have good local advisers both here and in Italy as the legal, fiscal, accounting, regulatory, cultural and even language differences can make doing these deals without support very challenging," he added.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, thanked the firm for its vote of confidence in Hong Kong.

He said, "As a true international financial centre, Hong Kong is home to a wide range of specialist firms, including those in corporate finance. Bringing in expertise and experiences from all around the world, these firms play an instrumental part in maintaining and enhancing the standard and versatility of our professional services in Hong Kong - and further strengthening Hong Kong's attractiveness to investors as a business location. We at Invest Hong Kong warmly welcome the addition of Arietti & Partners to our market."

In congratulating the opening of Arietti & Partners' Hong Kong office, Mr Galpin wished the firm all the best in its future development in Hong Kong.

Arietti & Partners and its associated business services companies employ around 170 staff in Italy. That makes it the third largest independent advisory group covering the Italian market. For further information about Arietti & Partners, please visit the websites at www.mergers.it and www.mergers.hk.

Hitachi Data Systems expands regional headquarters in Hong Kong
Thursday, March 24, 2005
Government Press Release

Leading intelligent storage company, Hitachi Data Systems, celebrated today (March 24) the opening of its expanded Hong Kong office, which is designated as the Asia Pacific regional headquarters.

Based in Santa Clara, California, Hitachi Data Systems (HDS) markets and supports intelligent storage subsystems and the software and services needed to deliver total storage solutions to customers. The regional headquarters in Hong Kong is home to several HDS senior executives responsible for the business operations of the company in the region. The office will be charged with marketing and selling the entire range of storage solutions to customers in Hong Kong and around the region, ranging from small and medium-sized businesses to large enterprises.

The company also has offices in Australia, Mainland China, Hong Kong, India, Korea, Malaysia, Singapore, Taiwan and Thailand. Other markets like Indonesia, Macau, New Zealand, the Philippines and Vietnam are serviced and supported by authorised channel partners.

The Senior Vice President and General Manager of HDS Asia Pacific, Mr David Yuen, said Hong Kong is regarded by the company as an ideal location for its regional base. He said, "Hong Kong has long held the status of having one of the best infrastructures in the region. With the entry of China into the World Trade Organization in December 2001, Hong Kong has become an even more strategic place to do business. We view Hong Kong as the premier gateway to China ¡V as much as China sees Hong Kong as its window to the outside world."

According to Mr Yuen, the Hong Kong office of HDS has more than doubled in size since 2003, as the company has built a team of professionals to support its business growth in the region.

"The HDS Solutions Centre in Hong Kong was created to address a common customer concern about understanding how and which storage technology best fits a particular organisation. The Centre provides both our partners and customers with the appropriate facilities for testing and building storage systems typically in a proof-of-concept exercise. Most importantly, we build the Solutions Centre here not only for the large-scale enterprise market. We also want to give strong commitment to the local small and medium enterprise market as we see them as the core business sector in Hong Kong," said Mr Yuen.

Officiating at HDS's new office opening ceremony, the Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, welcomed the company's decision to use Hong Kong as a strategic base to oversee operations in the region.

He said, "This expansion by Hitachi Data Systems endorses Hong Kong's position as the regional centre for IT providers. Given the increasing intensity and complexity of business and marketing activities conducted in Asia, there is a great demand for innovative IT solutions to increase the competitiveness and effectiveness of local and regional companies. Hong Kong's central position in Asia; our proximity and unique relationship with the mainland and our international business environment make us a natural location for technology companies to set up a regional operation to oversee and interact easily with their international business."

In sharing the company's vision on long-term development in Hong Kong, Mr Yuen said, "To sustain its leadership in the global economy, Hong Kong businesses must align their IT infrastructure closer to the business. To fully take advantage of technology does not mean simply investing in the latest developments but rather building solutions that deliver greater efficiency while simplifying the management of what is already a very complex network of servers, storage and applications."

Hitachi Data Systems is a subsidiary of leading global electronics company, Hitachi, Ltd (NYSE: HIT). HDS reaches its customers through the support of value-added business partners in the region. With 2,900 employees, Hitachi Data Systems conducts business through direct and indirect channels in the public, government and private sectors in over 170 countries. For more information, please visit the website at www.hds.com.

Specialised global survey firm sets up in Hong Kong
Tuesday, March 29, 2005
Government Press Release

Recognising Hong Kong as a springboard into China, a US-based employee research and consulting firm, International Survey Research Corporation (ISR), announced today (March 29) that the company has opened a new office in Hong Kong.

ISR is one of the global industry leaders in employee research and has provided many of the world's largest and most successful firms with the workforce intelligence to retain key talent, improve employee engagement, increase productivity, enhance customer satisfaction and increase shareholder value.

As part of the global network, the Hong Kong office will serve clients in both Hong Kong and Mainland China, and be responsible for growing and developing the company's business in Hong Kong and Greater China.

The Regional Director of ISR for Asia Pacific, Edmund Siah, said, "With the Hong Kong economy on the upswing, ISR is confident that the information generated from our research can encourage companies and groups in Hong Kong focus on organisational issues to help maximise their success.

"Hong Kong is well known for its resilience, adaptability and creativity. This contributes to our optimism about Hong Kong's future and its business prospects, and makes us keen to be part of its continuing development," he added.

ISR's Greater China operations are headed by Thomas Goh. The company operates in other major cities in the region, such as Auckland, Bangkok, Kuala Lumpur, Melbourne, Seoul, Sydney and Singapore. ISR has worked with national and multinational companies, not-for-profit organisations and public-sector agencies in more than 100 countries.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Simon Galpin, welcomed ISR's investment into Hong Kong. He said, "We are delighted to see another professional services provider leveraging Hong Kong's advantages as a springboard to access the China market. The variety of businesses present here ¡V including those interested to tap opportunities brought by the rapid expansion of the Mainland market ¡V should provide ISR with a potential client base.

"One of Hong Kong's most valued assets is its human capital, which is a key competitive advantage of high value-added economies. Through the consulting and research services offered by firms like ISR, companies and individuals in Hong Kong will be able to enhance their competitiveness in the knowledge-based economy," Mr Galpin said.

Founded in 1974 in Chicago, ISR is a premier global research and consulting firm specialising in the creation of customised employee and management opinion surveys and other tools helping organisations improve human capital performance. It has surveyed more than 35 million employees from more than 3,000 companies in 106 countries. ISR has considerable experience managing large research projects in which there are significant complexities created by time, distance, language, and culture. For more information, please visit the website at www.isrinsight.com.

Leading biotech company launched in Hong Kong
Wednesday, March 30, 2005

Top stem cell biotechnology and immunotherapy company CordLife today (March 30) celebrated the grand opening of its Hong Kong office and laboratory facilities at Shui On Centre, Wan Chai. The Hong Kong office, CordLife will be the company's lead facility for the North Asia market and for Hong Kong.

At the opening ceremony Mr Ian Brown, the Chief Operating Officer of CyGenics, the Australian-listed parent company of CordLife, said the company was very excited about its new Hong Kong facilities.

"Hong Kong is a new untapped market for this kind of service. CordLife is committed to bringing high quality laboratory processing and storage standards here. The city's well-developed infrastructure and world-class medical care allow us to maintain our highest level of service," Mr Brown said.

"We are confident that people in Hong Kong will be receptive to this service, given it is a highly educated market with a large population of expatriates. In addition, the city offers us easy access to the Mainland and North Asia ¡V markets which we plan to explore. Therefore, Hong Kong is an important step for our long-term development in the region," Mr Brown said.

Mr Brown also explained CordLife's service and development in Hong Kong and across the region. "CordLife established the first private umbilical cord blood (UCB) bank in Singapore, and among the earliest in Asia, serving customers across the region. UCB stem cells used in stem cell therapy are widely recognised as treatment for more than 70 diseases including leukaemia, anaemia and thalassemia. The opening of CordLife's Hong Kong facility will provide parents access to first class UCB bank facilities within Hong Kong."

The Hong Kong office will offer full cord blood processing and storage capabilities and facilities. The new laboratory's state-of-the-art equipment is designed to ensure the highest quality standards are maintained during collection, processing and storage of UCB. The Hong Kong office will also serve as the marketing and sales office, providing customer care and education.

The Acting Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, officiated at the grand opening of CordLife. He said IHK was very pleased that Hong Kong had been chosen by a leading biotechnology company as a location for expanding its business in this region.

"The company's commitment in bringing in new technology and setting up laboratory facilities has shown its confidence in Hong Kong as a location for investment in the biotechnology sector," Mr Rutherford said.

"Cordlife has recognised the advantages Hong Kong has to offer, such as the availability of technical professionals, quality infrastructure, and intellectual property protection - essential for companies of this type. I am sure the company will become an important player in our life sciences community and we at Invest Hong Kong look forward to celebrating their future growth here."

CordLife is a subsidiary of CyGenics, a leading stem cell biotechnology company headquartered in Australia and listed on the Australian stock exchange. CordLife operates American Association of Blood Banks (AABB) compliant tissue banking facilities, and provides tissue banking services, in particular cord blood banking. These banking facilities have full processing and cryogenic storage capabilities. CyGenics also has offices in Boston, Zurich, London, Bangkok, Jakarta, Medan and Melbourne. For further information, please visit the website at www.cordlife.com.

Bulgaria grants visa-free access to HKSAR passport holders
Friday, April 8, 2005
Government Press Release

The Director of Immigration, Mr Lai Tung-kwok, on behalf of the Hong Kong Special Administrative Region (HKSAR) Government, today (April 8) signed an Agreement on Abolition of Visa Requirements with the Vice-Minister of Foreign Affairs of the Republic of Bulgaria, Mr Ivan Petkov.

The agreement provides visa-free access to HKSAR passport holders visiting Bulgaria for a stay of up to 90 days and Bulgarian nationals will enjoy 90 days' visa-free access to Hong Kong. "The agreement will enter into force in about two months' time after completion of the internal procedures required for its entry into force," a spokesman for the Immigration Department said.

"We warmly welcome the signing of the agreement, which means greater convenience for Hong Kong travellers and helps promote trade, business and tourism links between Hong Kong and Bulgaria," the spokesman said.

The availability of visa-free access to Bulgaria has brought the total number of countries/territories agreeing to grant visa-free access to HKSAR passport holders to 134.

Australian IT solutions company upgrades Hong Kong office into regional headquarters
Tuesday, April 19, 2005
Government Press Release

Leading Australian IT solutions company Capital Market Solutions (CMS) announced today (April 19) the expansion of its operations in Hong Kong. The Hong Kong office now will be responsible for overseeing all the company's businesses in the Asia-Pacific region.

The Chief Executive Officer for CMS, Mr Ralph Horne, said that the company found Hong Kong an attractive place for its business development in the region. He said, "CMS was attracted to Hong Kong for a number of reasons - the market size and number of large scale international and domestic financial institutions, the demand for new software technology and the ease of doing business in Hong Kong."

Headquartered in Melbourne, CMS specialises in providing software and services to stockbrokers, investment banks and investment/asset managers in Asia-Pacific and the UK. Hong Kong is an important base from which the company has grown its business operations into Asia.

According to Mr Horne, the current team in Hong Kong provides a range of support and consultancy services associated with its software products. The company's expansion will allow it to identify opportunities outside of Hong Kong and serve clients in the region.

Mr Horne said, "The management team and staff of CMS are strongly committed to this region's capital markets and are dedicated to providing our customers with the highest quality products and services. We have created a new asset management division to target fund managers, and are launching new products in the Hong Kong market. CMS is seeking to grow its market share here, especially among international and domestic financial institutions."

Capital Market Solutions Limited is a leading provider of software and services to financial institutions primarily in the Asia-Pacific region. With offices in Australia, Hong Kong, Malaysia, New Zealand and the UK, CMS employs approximately 100 staff with extensive working knowledge and experience within the financial services IT industry.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, said, "We are delighted to see the establishment of CMS regional headquarters in Hong Kong. CMS is involved in two of Hong Kong's key business sectors - IT and Financial Services ¡V and their success here has encouraged them to run their regional business from here. Technologies and skills brought by the company will further enrich our existing IT cluster, and enhance the competitiveness of our financial sector. We hope that CMS will continue to grow, and wish the company every success in its business development in and through Hong Kong."

CMS delivers innovative solutions to both the buy and sell side financial community. Further information on CMS can be found at: www.capmsl.com.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

HK and Poland sign Agreement on Mutual Legal Assistance in Criminal Matters
Tuesday, April 26, 2005
Government Press Release

The Secretary for Security, Mr Ambrose S K Lee, on behalf of the Hong Kong Special Administrative Region (HKSAR) Government and Under Secretary of State in the Ministry of Justice of Poland, Mr Sylweriusz Krolak, on behalf of the Government of the Republic of Poland, today (April 26) signed the bilateral agreement concerning Mutual Legal Assistance (MLA) in Criminal Matters.

The agreement is the 18th of its kind that the HKSAR has signed to facilitate greater international co-operation to combat serious crime. It will allow for a wide range of reciprocal assistance to be offered in the investigation and prosecution of criminal offences and in the proceedings relating to criminal matters. It contains all the essential features and safeguards for international agreements of this type.

The assistance provided for in the agreement mainly includes the following:
* Taking testimony or statements;
* Providing documents and items;
* Identifying and locating persons or items;
* Arranging the attendance of persons to give evidence;
* Executing requests for search and seizure;
* Tracing, restraining, forfeiting or confiscating the proceeds or instruments of crime; and
* Any other assistance permitted by law.

The agreement will come into force after both Contracting Parties have complied with their respective requirements for the entry into force of the agreement.

So far, the HKSAR has signed MLA Agreement with 17 other jurisdictions - Australia, the United States, France, the United Kingdom, New Zealand, Italy, South Korea, Switzerland, Canada, the Philippines, Portugal, Ireland, the Netherlands, Ukraine, Singapore, Belgium and Denmark.

HK joins international community to fight spam
Wednesday, April 27, 2005
Government Press Release

Hong Kong has joined the international community to enhance cooperation and exchange of information to fight the problem of spam.

The Commerce, Industry and Technology Bureau of the Hong Kong Special Administrative Region today (April 27) joined 11 agencies in the Asia-Pacific region to become the founding signatories of the Seoul-Melbourne Multilateral Memorandum of Understanding (MoU) on Co-operation in Countering Spam.

The purpose of the memorandum is to encourage closer cooperation among the signatories in minimising spam originating in or passing through each country/region, and being sent to end-users in the countries/regions.

The signatories will also encourage the exchange of information on technical, educational and policy solutions to the spam problem in accordance with the relevant laws and regulations of each country/region and on the basis of equality, reciprocity and mutual benefit.

Welcoming the signing of the MoU, the Secretary for Commerce, Industry and Technology, Mr John Tsang, said that international cooperation was important in helping to contain the problem of spam in Hong Kong.

"Studies show that spam has accounted for over 60% of emails in Hong Kong. Among them, only 5% originate from local sources, with the other 95% from other overseas countries like the United States and South Korea.

"The MoU will facilitate the signatories to share knowledge, information and intelligence about known sources of spam, network vulnerabilities, methods of spam propagation, and technical, educational and policy solutions to the spam problem.It will also focus on putting anti-spam solutions and strategies into action.

"This MoU will facilitate cooperation among Asia-Pacific signatories on many fronts in tackling the spam problem. We will continue to develop international partnerships and play a leading role in the fight against spam," Mr Tsang said.

Under the MoU, cooperation among the signatories in the field of countering spam will focus on the following areas:

* establishment of channels for exchange of information on spam, anti-spam measures and emerging issues;
* exchange of delegations and visits; and
* encouragement of liaison between industry and Government organisations to promote areas of interest and cooperation.
The 12 founding signatories of the MoU are:
* Australian Communications Authority;
* Commerce, Industry and Technology Bureau, Hong Kong Special Administrative Region;
* Internet Society of China;
* Korea Information Security Agency;
* Philippines Commission on Information and Communications Technology;
* Philippines Computer Emergency Response Team;
* Malaysian Communications and Multimedia Commission;
* Ministry of Economy, Trade and Industry, Japan;
* Ministry of Internal Affairs and Communications, Japan;
* Ministry of Information and Communication Technology, Kingdom of Thailand;
* New Zealand Ministry of Economic Development; and
* TWCERT/CC

Tuesday May 3, 3:30 PM
Jackie Chan promotes Firefighter Games in Hong Kong

AP - Decked out in full firefighter gear and arriving on a fire patrol buggy, Jackie Chan on Tuesday threw his name behind the next World Firefighters Games in Hong Kong.

Chan was named an ambassador for the games next February _ which pit firefighters from around the world against each other in sports events.

"A lot of people call me a hero," Chan said. "Well, (firefighters) are real heroes; they are nameless heroes."

Chan added that he plans on making a film about firefighters in the future.

"I have had the script for 20 years," he said. "It is a dream of mine to make this film; if I do not make it, I will regret it," he said.

The games in Hong Kong will be the ninth edition of the event, which started in 1990.

UBC opens Asia Pacific Regional Office in Hong Kong to serve the region
Tuesday, May 3, 2005
Government Press Release

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The University of British Columbia (UBC), officially announced today (May 3) the establishment of its Asia Pacific Regional Office in Hong Kong. This is the first such office for a Canadian university and is mandated to serve the entire region.

At the opening ceremony today, the President of the UBC, Dr Martha Piper, said, "The University of British Columbia is delighted to announce its new and expanded home in the Asia Pacific region. UBC has a longstanding commitment to Asia-related study and research. The regional office will help UBC build and enhance existing, academic, government, and private sector partnerships throughout Asia while serving its students and alumni."

Dr Piper went on to say that UBC's historical ties, extensive academic links, and commitment to study and research on Asia make it imperative that the university establish a permanent base in the region. "It is also significant to note that there are tens of thousands of UBC alumni contributing to communities throughout Asia. In Hong Kong alone, there are more than 3,000 UBC graduates."

Centrally located in Wheelock House in Central, the office will be responsible for marketing, programme development and alumni relationships in Asia-Pacific.

The Director of the Office of UBC International and Acting Associate Vice President, International, Dr Ken McGillivray, explained that office here will serve as a bridge to extend the university's reach to Asia. He said, "As Canada's leading university on Asia Pacific issues, UBC has had partnerships in the region for decades. By establishing a permanent presence, we can strengthen these existing partnerships and foster new, dynamic academic, government, and private sector relationships."

Recognised as a leader in Asia Pacific research, UBC has a long history of research projects in China, Japan, Korea, Singapore and Vietnam, among others. UBC has partnerships with more than a dozen Asia Pacific universities, including education programmes, joint residences, research, and job placement and student mobility programmes.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, warmly welcomed UBC's decision of using Hong Kong as their base in the region. He said, "We at Invest Hong Kong are delighted to see a world-class university like UBC committing to working closely with partners in the region through Hong Kong. As Hong Kong evolves into a knowledge-based society, the demand for higher education, research and collaboration between institutions and both public and private sectors has intensified. These activities involving top universities have brought significant value to Hong Kong and have become major forces behind on-going development of our society. Programmes by leading universities like UBC will certainly enhance our competitiveness in the international business arena."

Mr Galpin wished UBC great success in its long-term development in Hong Kong and in the region.

Incorporated by the British Columbia government in 1908, UBC has consistently ranked among the top 50 universities in the world. It draws students from more than 120 countries. A research-intensive university with the province's only medical school, UBC is home to more than 42,500 undergraduate, graduate and international students. For more information about UBC's APRO, please visit the website at www.apro.ubc.ca. A webcast of the opening ceremonies can be viewed at www.ubc.ca/webcast.

SAR shines as regional base for foreign firms
Overseas companies have many reasons to set up headquarters here, and jobseekers with language skills and mainland knowledge are in demand
7 May 2005
South China Morning Post

COMPANIES FACE MANY decisions as they develop: when to grow, when to launch new products or services and which direction to take.

One of their decisions, which carries great significance in terms of positioning and financial investment, is where to locate their regional headquarters.

Businesses seeking to expand and develop in the robust Asian economy are keeping a close eye on the mainland, and so they should. According to the National Bureau of Statistics of China, it is one of the fastest growing countries in the world, with a gross domestic product expected to grow at 9.5 per cent this year.

Hong Kong is in a unique position - both geographically and economically - to attract companies wishing to do business with the mainland.

The SAR has aligned its world-class financial, marketing and technical expertise and sophisticated infrastructure with the mainland's rapidly developing manufacturing and services base. It also has a vast and experienced resource pool of candidates with the skills and experience to support regional operations.

The number of regional headquarters in the SAR reached an all-time high last year, according to the 2004 Annual Survey of Regional Headquarters Representing Overseas Companies, conducted by the Hong Kong Census and Statistics Department. Ten years ago there were 714 regional headquarters in Hong Kong. Last year, the number had grown to 1,098.

So why is Hong Kong so attractive?

The SAR's benefits include developed infrastructure, political stability, strong transport systems and telecommunications (important for business travellers), as well as beneficial tax legislation. It also enjoys a mature legal system, free flow of information and intellectual property protection, which is crucial for information technology companies wanting to protect their hard-earned research and development.

Perhaps even more important are the "people skills" available in Hong Kong.

The SAR ranks among the very best in the world in terms of management experience in international business. It has a well-educated and adaptable workforce of 3.5 million people, who are reputed to be computer-literate, resilient, flexible and entrepreneurial.

To continue attracting companies to invest in Hong Kong, the government is promoting a competitive and knowledge-based workforce through a number of measures, including providing free compulsory education and funding lifelong learning programmes in 10 universities and colleges.

When a company sets up its headquarters in the SAR, it generally recruits local people. These positions can include administration and clerical staff, as well as local accountants.

These employees are not only skilled in their field of expertise, but also have the advantage of knowing the local language and culture.

Increased business for SAR companies results in the need for them to expand their own headcount, as well as exposing them to the best practice and new skills of other companies.

There are also employment opportunities for the local services, tourism and hospitality sectors.

The regional offices of most companies are responsible for the co-ordination of conferences and meetings, which means large groups of employees flooding into the SAR for a few days or weeks at a time. Hong Kong people are accustomed to working with, and providing services to, multinational companies, which adds to the city's overall attraction.

The employees of companies with regional headquarters here also benefit from their exposure to other cultures. Employees from the company's country of origin have the opportunity to live in another country and learn its language and culture. Employees from the SAR are exposed to a different company culture as well as the chance to travel within the region, particularly for senior management roles.

Each time a company establishes operations in Hong Kong, it invests in leasing office space and housing rental agreements for their employees. These people in turn, inject significant amounts of cash in the local community by way of schooling for their families and day-to-day retail spending. This boosts the business and residential property market as well as the local economy.

According to InvestHK, the United States topped the list of countries with companies having regional headquarters in Hong Kong, followed by Japan and the mainland. The major lines of business include wholesale, retail, import/export trades, business services, transport and related services, finance and banking and manufacturing.

Multinational companies in this list include 3M and Siemens (manufacturing), DHL and Fedex (shipping and logistics) and major financial service providers such as Citibank and Goldman Sachs.

In order to capitalise on the increasing number of companies setting up shop in Hong Kong, interested candidates should focus on developing their language abilities, particularly in English and Putonghua.

They should also take advantage of the SAR's location and relationship with the mainland to understand and learn more about the business culture and practices there in order to assist international companies who have operations in, or are planning to develop, offices across the border.

Hong Kong appears to have the necessary draw cards to entice companies to start up, or relocate, their regional headquarters here.

Contributed by Manpower (Hong Kong), a world leader in recruitment

Baker Botts opens Hong Kong office to serve Asian markets
Monday, May 9, 2005
Government Press Release

Baker Botts LLP, recently named "Global Oil and Gas Law Firm for 2005" by Who's Who Legal, opened a Hong Kong office today (May 9) to enhance its involvement in major energy projects throughout the Asian region and provide the firm with better access to China, one of the world's fastest growing energy and commercial markets.

David Powers, a partner in the firm's Global Projects Group, has been named Partner In Charge of the Hong Kong operation. Powers has been with the firm since 1986, practicing out of its Washington office.

John T Kuzmik, formerly a partner with White & Case, and David Renton, formerly a partner with Herbert Smith, join Baker Botts as partners working with Powers in Hong Kong. Kuzmik and Renton will spearhead development of energy projects in the region, while providing the firm extensive expertise in energy matters in China.

Baker Botts now has 11 offices that span the globe. In addition to Hong Kong, the firm's worldwide network includes offices in Austin, Baku, Dallas, Dubai, Houston, London, Moscow, New York, Riyadh and Washington, DC.

Baker Botts has a long and distinguished tradition of service to clients in Texas and around the world. The firm traces its history to the earliest days of Texas, when founding partner Peter Gray was admitted to the bar of the Republic of Texas in January of 1840, just three years after the city of Houston was established. The 165-year-old international law firm is currently home to former US Secretary of State James A Baker III, who continues a family connection to the firm dating back to 1872.

"Establishing an Asian base of operations is essential for our clients operating in the region," said Baker Botts Managing Partner Walt Smith. "As the pre-eminent law firm in the world serving energy clients, this expansion will make us more competitive in seeking additional business opportunities in Asia, particularly in China."

The Hong Kong office will initially focus on serving the energy industry, as well as providing corporate and private equity clients with cross-border mergers and acquisitions capabilities throughout Asia, with an emphasis on China.

"Hong Kong will be a regional hub for us," said Stuart Schaffer, chair of Baker Botts' Global Projects Group. "It is a gateway for China. We intend to focus on energy projects and transactions throughout the region as well as representing Asian energy companies on their international investments."

David Powers has extensive experience in international merger and acquisition, private equity, energy and infrastructure projects and finance. He has handled project financing, public and private securities offerings, leveraged buyouts and acquisitions on behalf of issuers, sellers, investors, lenders and investment bankers for clients in countries ranging from Argentina to Russia. He is a graduate of Princeton University (cum laude/Public Affairs) and earned his law degree from the University of Virginia School of Law in 1982.

"Opening a Hong Kong office with lawyers experienced in the laws and customs of this region is timely and will allow us to respond immediately to client demand for our services. Plus, we will be well positioned to build a strong base of operations that can expand as the regional economy grows," Powers said.

Mike Rowse, Director-General of Investment Promotion at Invest Hong Kong welcomed Baker Botts to Hong Kong.

"We are delighted that a leading international law firm, especially one specialising in the rapidly growing energy sector, has chosen Hong Kong as its strategic base in the Asian region," Rowse said. "Our rule of law, sophisticated financial infrastructure and expertise, information and facilities needed to access the Mainland Chinese market have made Hong Kong an attractive regional centre for firms such as Baker Botts. The presence of Baker Botts in our city further strengthens our existing cluster of world-class professionals, enhancing Hong Kong's attractiveness as the international business and financial centre in Asia."

John Kuzmik was head of the China practice for his previous law firm. A fluent Mandarin speaker, Kuzmik is a leading China specialist with over 16 years of practice in Hong Kong and Beijing. His extensive China-related experience spans a broad range of mergers and acquisitions, direct investment, corporate restructuring and project finance transactions for multinational corporations, developers and lenders. Significant matters he has handled include advising energy industry clients in connection with the establishment and financing of power plants and other energy-related infrastructure, as well as upstream oil and gas exploration, development and production projects. He is a graduate of Ohio State University (with honors/Linguistics and Chinese) and earned his law degree from the University of Michigan Law School.

David Renton was a partner at his previous firm's Hong Kong office. He has been based in Hong Kong for 11 years and has 25 years of experience working on projects and regulatory matters in the energy sector, particularly in the electricity and gas industries. He has worked extensively on the restructuring and privatisation of the electricity industry in China, India and the Philippines, as well as advising clients on LNG, power, desalination, petrochemical and other energy projects in the region. He is a graduate of Sussex University (England) and earned his law degree from the Boalt Hall School of Law, University of California, Berkeley.

Samsung Electronics chooses Hong Kong to open largest LCD service centre outside of Korea
Tuesday, May 17, 2005
Government Press Release

Samsung Electronics Co, Ltd officially announced today (May 17) the opening of its new LCD service centre in Hong Kong. It will serve the local market, as well as other areas in South China and Southeast Asia.

Equipped with most advanced facilities and experienced technicians, the 2500 square metre Samsung Hong Kong LCD Service Centre is located in Fo Tan, Sha Tin. It can handle 6,000 items per month - representing the largest capacity in the world outside of Korea.

At the opening ceremony today, the President of Samsung Electronics HK Co, Ltd, Mr BJ Chung, said that the establishment of the service centre in Hong Kong demonstrated the company's long-term commitment to using the city as a regional base to serve the region.

Mr Chung explained the strategic importance of the centre to the company's business development. He said there was rising demand in the global LCD market. "We are selling around 10,000 40-inch and larger panels per month around the world. As the key market player, Samsung Electronics is committed to providing top standard after sales services to our customers. Hong Kong's proximity to South China and Southeast Asia, among the fastest growing markets in the world, allows us to set our strategic base here to efficiently serve our customers in Asia," Mr Chung said.

"Hong Kong offers experienced management and technical staff, which is particularly important to companies in the highly competitive market like us. Our new service centre in Hong Kong will play an important role in enhancing our quality and shortening the turnaround time for our services. This will strengthen our overall competitiveness in the region."

The primary responsibilities of the service centre are to handle repair processing and re-shipping of LCD products. The centre will also analyse the causes of any problems with the products and provide feedback on defects.

According to Samsung Electronics, the world's LCD TV market is growing rapidly, given the high demand for 32-inch LCD TVs. A recent study shows that 28-inch and larger LCD TVs made up 31% of the market; the market share is expected to reach 45% this year and 60% by 2007.

In addition to Korea and Hong Kong, Samsung Electronics operates LCD service centres in Austin, Texas (US), Taipei, Tokyo, London and Suzhou.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, officiated at the opening ceremony. "We welcome Samsung Electronics decision in choosing Hong Kong to set up one of the company's largest service centres," Mr Rutherford said. "An investment of this size by one of the world's great technology companies is a great vote of confidence in Hong Kong's business environment. Our skilled labour, experienced managers and well-established infrastructure continue to attract foreign investors to use Hong Kong as their regional base. We wish the company every success and pledge to continue to support Samsung Electronics' business development in Hong Kong and the region."

Samsung Electronics Co, Ltd is a global leader in LCD, semiconductor, telecommunication, digital media and digital convergence technologies. In 2004, the parent company recorded sales of US$55.2 billion and a net income of US$10.3 billion. Employing approximately 123,000 people in 93 offices in 48 countries and regions, the company has five main business units: LCD, Digital Appliances, Digital Media, Semiconductors and Telecommunications Networks. Recognised as one of the fastest growing brands, Samsung Electronics is the world's largest producer of colour monitors, colour TVs, memory chips and TFT-LCDs. For more information, please visit www.samsung.com.

HKSAR passport holders require visa for Pakistan
Wednesday, May 25, 2005
Government Press Release

The Consulate General of the Islamic Republic of Pakistan has told Hong Kong that holders of Hong Kong Special Administrative Region (HKSAR) passport are required, with immediate effect, to obtain a visa before travelling to Pakistan.

"Businessman holding HKSAR passport will be allowed 30-day-visa on arrival in the country," a Government spokesman said today (May 25).

"The visa-on-arrival facility is available only at airports of Islamabad, Karachi, Lahore, Quetta and Peshawar on the production of either:

* A recommendatory letter from a local chamber of commerce and industry;

* Invitation letter from business organization duly recommended by the concerned trade organisation/association in Pakistan; or

* Recommendatory letter by Investor Consular of Board of Investment posted at Pakistan Missions aboard.

"While we are clarifying with the Pakistani authorities about the change of visa policy, holders of HKSAR passports who wish to travel to Pakistan are advised to make enquiry with the Consulate General if they have doubts about the country's visa requirement," the spokesman said.

World-famous cruise company opens Asia office in Hong Kong
Tuesday, 31 May, 2005
Government Press Release

Italy’s MSC Cruises recently opened a new regional office in Hong Kong - MSC Cruises Asia Limited (“MSC Cruises”) - as a strategic step to support the company’s global fleet expansion.

The Managing Director of MSC Cruises, Mr Kevin Schellack, said that the company is very excited about the opening of their new cruise office in Hong Kong, which is dedicated to cope with MSC Cruises’ global fleet expansion.

He said, “With the rapidly growing economy in Asia, we believe there is significant potential for our business within this region. Therefore, we have taken this significant step to develop these markets. We understand the importance of choosing the right location for our regional base. Given its strong advantages as a regional tourism and shipping hub, Hong Kong is the natural choice for us.”

With an aim to diversify passenger portfolio for the company, the Hong Kong office will be responsible for promoting MSC’s Fly Cruise programme in Asia, including Hong Kong, Mainland China, Taiwan, Singapore, Korea and other areas.

According to Mr Schellack, MSC Cruises will expand the Hong Kong office as the business grows, and hope to attract and recruit more Hong Kong-based cruise professionals to join the company.

MSC Cruises has a fleet of seven modern luxury vessels, providing Italian-style service to passengers. The fleet will grow to nine ships by 2007. MSC Cruises offers comprehensive itineraries in the Mediterranean Sea, Northern Europe, the Atlantic Ocean, the Caribbean, South America and South Africa.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, welcomed MSC Cruises to Hong Kong. He said, “Consumers in Asia are constantly looking for new tourism products and services, creating great business opportunities for companies like MSC Cruises. It is important that we attract these companies to set up their operations in Hong Kong, to enrich the versatility and depth of our tourism sector.”

“Hong Kong’s unrivalled regional network also makes the city the ideal platform to implement sales and marketing activities targeting customers in Asia. We are confident that MSC Cruises has made the right decision in choosing Hong Kong for its regional base.”

Established in 1988, Italy-based MSC Cruises is a division of Mediterranean Shipping Company (MSC), a privately owned Swiss company with a longstanding history headed by Captain Gianluigi Aponte. MSC ranks as one of the largest carriers in the world, in respect to number of vessels operated and container slot capacity. For more information, please visit MSC Cruises’ website at www.msccruises.com.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish a business presence here. For more information, please visit our website at www.investhk.gov.hk.

http://www.investhk.gov.hk/images/news/MSC%20Cruises%20w9401.jpg
Photo shows the Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford (left), being briefed by the Managing Director of MSC Cruises, Mr Kevin Schellack on the company’s cruise programmes offered in Asia.

Photonics company expands operations in Hong Kong
Wednesday, June 1, 2005
Government Press Release

US-invested photonics company Amonics Ltd has strengthened its presence in Hong Kong. Invest Hong Kong welcomed the company’ s long-term commitment to the development of high tech industry in Hong Kong.

Located at the Hong Kong Science Park, the company was founded in 2002 by a group of active research scientists and engineers with extensive experience in the field of fibre optics and optical science. To leverage growing business opportunities in the region, the company recently expanded its presence through a merger with another photonics company in Hong Kong.

Director of the Board of Amonics Mr Henry Hou-Chung Hung expressed confidence in the overall development of the photonics industry in Hong Kong. “ From an investor’ s point of view, expanding in Hong Kong made sense. Hong Kong is the best entry point to the Mainland China for photonics company intending to develop an integrated R&D, manufacturing and marketing business model. Additionally, Hong Kong has numerous advantages over other competing cities, such as free port status and a well-established financial and legal infrastructure,” he said.

Specialising in the design and production of high-power optical amplifiers and light sources, the company currently has more than 12 staff members in Hong Kong, and is planning to hire more as the business activities grow.

According to the President of Amonics, Dr Ray Wai-Sing Man, the Hong Kong operation would be strategically important to the company, both in terms of business development and R&D. “ For design and technology-based industries such as Amonics, Hong Kong offers the optimal combination of R&D efficiency and manufacturing cost-effectiveness,” he said.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, congratulated Amonics on its expansion in Hong Kong.

“ It is extremely encouraging when we see high tech operations expanding their business in Hong Kong as it is evidence that we have a great deal to offer such companies. Hong Kong Science & Technology Parks where Amonics is based provides world-class facilities and infrastructure and there is a ready availability of professional talent to foster and drive technological development. Our legal system also provides a high level of IP protection for technology innovators and designers. We look forward to working closely with Amonics as it continues to develop in Asia from its base here,” Mr Rutherford said.

Amonics Ltd is an industry specialist in the design and production of high-power optical amplifiers and light sources. Amonics has recently delivered 10 Gigabit (10,000 Megabit) optical networks transmission products to its customers in Japan. This new product will complement optical amplifiers offered by Amonics and strengthen the company for OEM/ODM photonics business. The company offers custom-making services, which include producing equipment according to buyers designs and specifications, and assembling components. It also designs education packages for institutes and research laboratories. For more information, please visit the website at http://www.amonics.com.

Bulgaria grants visa-free access to HKSAR passport holders
Thursday, June 16, 2005
Government Press Release

The Immigration Department announced today (June 16) that confirmation had been received from the Bulgarian authorities that they had completed their internal procedures required for the entry into force of the Agreement on Abolition of Visa Requirements signed between the Government of the HKSAR and the Government of the Republic of Bulgaria in April this year.

In accordance with its terms, the agreement will come into effect on July 14, 2005. The agreement provides visa-free access for a stay of up to 90 days to HKSAR passport holders visiting Bulgaria. Likewise, Bulgarian nationals will enjoy 90 days' visa-free access to Hong Kong.

http://www.tdctrade.com/tdcnews/0506/05061601.htm


16 Jun, 2005

CRUCIAL EXPANSION OF CEC A STEP CLOSER “Wonderful news”, says TDC Chairman

Hong Kong's mega trade fairs are closer to becoming number one in the world, with the Government's decision to support a proposed expansion of the Convention and Exhibition Centre (CEC), in Wanchai.
Responding to today's (Thursday) announcement of policy support for the project, Trade Development Council Chairman Peter Woo said:

"Government's prompt policy support for this outstanding Hong Kong project is wonderful news indeed. We face rapidly rising external competition in our time zone and we need to move fast."

"The trade fair business is about building critical mass in our marketplace. It's about pulling in the greatest number of exhibitors and buyers faster than your competitors can. This is urgent!

There are further hurdles to jump. TDC will submit its CEC expansion proposal to the Town Planning Board next week.

Mr Woo said that seven TDC mega fairs could be number one in the world, along with others staged here by private organisers.

"All that's holding them back is that the existing CEC capacity is not enough. Hundreds of exhibitors are on waiting lists for Hong Kong's largest fairs.

"We must not slip and lose this opportunity. This is a 'win' project for Hong Kong. We as a community must push it forward as soon as possible. We cannot afford to lose time."

According to TDC's fast-track timetable, the prestigious downtown landmark exhibition facility will have about 40 per cent more exhibition space by 2009. "This will bring us, in total, to almost 1 million square feet (around 84,000 square metres) of badly needed space," Mr Woo said.

The CEC expansion will generate billions of dollars in additional economic benefit for Hong Kong over the long term and create tens of thousands of jobs.

"Trade fairs are highly significant in job creation," said Mr Woo.

"More critical mass will bring more business and more demand for Hong Kong's value-added services, which means more jobs. Hong Kong's platform will be even more powerful as a result. It is critical to stay ahead of other competitors."

"It is about the art of the possible," said Mr Woo.

"Without new reclamation, the expansion can be done almost within the CEC's existing envelope to preserve the environmental integrity of this special site.

"Without costing taxpayers a cent, the HK$1.3 billion project will be financed independently by TDC utilizing both internal and external resources," Mr Woo said.

American memory and storage technology company, SimpleTech, chooses Hong Kong for Asia-Pacific headquarters
Tuesday, June 21, 2005
Government Press Release

US-based SimpleTech (NASDAQ:STEC), a company that specialises in designing, manufacturing and marketing custom and open-standard memory and storage solutions, today announced that the company has chosen Hong Kong for its Asia-Pacific regional headquarters. Hong Kong's advantage as the gateway to China and its Western-style business infrastructure are the important factors that drove the company's decision. Serving as regional headquarters and providing a local presence in one of the world's fastest growing regions, the new Hong Kong office is responsible for field applications engineering, sales, procurement, distribution and engineering support.

The Chairman and CEO of SimpleTech, Mr Manouch Moshayedi, said, "Our new office is a key step in expanding SimpleTech's presence in this fast growing region. It will also support our efforts to expand revenue growth."

"Our regional headquarters will provide localised coordination of our global supply chain management, logistics and customer support. We expect to offer a higher level of customer and sales support within Asia-Pacific."

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, officially welcomed SimpleTech's decision to open its regional headquarters in Hong Kong. He said, "Hong Kong continues to attract technology companies like SimpleTech to set up their regional bases. This is an ideal location to base business development activities and to serve existing clients throughout the region. The high concentration of international companies in Hong Kong has created a natural client base for solutions providers. And from customer servicing and retention point of view, companies can provide instant and direct services to their clients as most of the multinational customers are likely to have operations here."

"We wish SimpleTech all the best, and look forward to celebrating further expansion of the company in Hong Kong," said Mr Rowse.

Founded in 1990, SimpleTech has more than 400 employees and is publicly traded on NASDAQ. With headquarters in Santa Ana, California, the company offers a comprehensive line of more than 2,500 products. It specialises in developing high performance and high-density memory modules, memory cards and storage products. For more information, please visit the website at www.simpletech.com.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

India's Corporation Bank To Set Up Offices In Dubai, Hong Kong

NEW DELHI, June 27 Asia Pulse - India's Corporation Bank, which recently raised $US100 million in overseas markets, is planning to open representative offices in Dubai and Hong Kong and has set a target of registering over 18 per cent growth in deposits and 25 per cent in advances for this fiscal year.

"The bank has already initiated steps for seeking RBI approval for opening up the offices," bank CMD V K Chopra told a press conference today. ADVERTISEMENT

The bank has set a total business goal of Rs 550 billion for this fiscal, he said.

The target for deposits is fixed at Rs 320 billion, up 18.9 per cent, while advances are expected to reach a level of Rs 230 billion, a growth of 25 per cent.

In its endeavour to expand its reach, the bank is planning to have at least 2,000 outlets, including branches, extension counters and ATMs by March 2006.

The outlet expansion will be mostly concentrated in northern and eastern parts of the country, Chopra said.

Pointing out that the bank, being an authorised dealer, is permitted to use loans or overdrafts from overseas correspondent banks up to 25 per cent of its unimpaired tier-I capital, Chopra said the bank can further raise around $US40 million under this limit.

The bank had been active in raising funds through overseas borrowings for funding export credit in foreign currency, he said.

The bank had mopped up US$140 million under this window and could raise up to US$58 million, which has been approved by the bank's board.

As part of centenary celebrations this fiscal year, the bank had also decided to set up public libraries in 100 villages and launch other social initiatives, he said.

July 4, 2005
Visa policy tightened for 4 countries
Government Press Release

Citizens of Cote d'Ivoire (Ivory Coast), the Democratic Republic of Congo, Ethiopia and Somalia will require a Hong Kong visa from July 11, including for airside transit.

The Immigration Department today said this was due to security and immigration control reasons.

Nationals of Cote d'Ivoire, the Democratic Republic of Congo and Ethiopia have been able to visit Hong Kong visa-free for up to 14 days, while Somalis have needed a visa for visits unless they are in airside transit.

Hong Kong adopts a liberal visa policy under which nationals of about 170 countries and territories can visit visa-free and stay for up to 180 days.

The department regularly reviews its visa policies and will take into account social, economic and political situations around the world. It will review its policies in light of ongoing developments.

UK fund manager Gartmore opens office in Hong Kong

http://www.gartmore.co.uk/Images/Logo1.gif

LONDON, July 6 (Reuters) - British-based fund manager Gartmore said on Wednesday it has opened an office in Hong Kong to research investment opportunities, particularly technology companies, in Asia.

Opened on July 1, the Hong Kong office will be managed by Frank Ho and will form a part of Gartmore's proprietary research operations, the company said in a statement.

"The office will not be used by Gartmore for providing fund management services for client monies," Gartmore said.

"The opening of the Hong Kong office occurs at a time when investor interest in the pacific and emerging markets sector is growing."

Ho, previously based in Gartmore's Tokyo office, will remain a key member of the pacific & emerging markets team and will continue to report to its head, Philip Ehrmann.

Gartmore is part of the Gartmore Group, the asset management business owned by U.S.-based Nationwide Mutual Insurance Company.

Gartmore Group had assets under management of 42.7 billion pounds at the end of March.

Overseas and Mainland investment in Hong Kong stays on the upswing
Thursday, 7 July, 2005
Government Press Release

Invest Hong Kong recorded strongly positive results from its investment promotion work in the first six months of 2005.

The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, announced today (7 July) that the department assisted 144 foreign companies to set up or expand operations in Hong Kong during the first six months of 2005, representing a healthy 13.4% increase from the same period last year.

According to the investors, these projects led to the immediate creation of more than 1,421 jobs. The same investors plan to create 3,072 additional jobs in the next two years. Initial investment by these companies investment topped HK$1.5 billion (US$192.3 million).

144 investment projects completed in first two quarter

Mr Rowse said the department was encouraged by the half-year results, which indicate that Hong Kong remains highly attractive to overseas and Mainland companies in various sectors.

He said, “Last year was a record year for investment promotion in Hong Kong, with the all-time-highs in projects completed by Invest Hong Kong and the number of regional headquarters operated by foreign companies in Hong Kong. Our department sees a continuing trend in investors using Hong Kong's many advantages as a business hub and two-way platform to and from the Mainland.”

During the first two quarters, for example, the International Gemological Institute (IGI) set up Hong Kong's first international standard gemstones and jewellery testing laboratory; financial services company CMC Group chose Hong Kong for its first office in Asia to access the Mainland and other Asian markets; and cruise company MSC Cruises opened a regional office in Hong Kong to support the company’s global fleet expansion.

Mainland enterprises have increasingly recognised Hong Kong's strategic role as the springboard to expand regionally and globally. About 17% of the completed projects in first-half of 2005 involved Mainland investments. For example, Beijing-based software company UFIDA and electronic appliances giant Haier set up their regional operations in Hong Kong.

With the implementation of the second phase of CEPA in 2005, Hong Kong's attractiveness to foreign investors was further strengthened.

Out of the 144 investment projects completed in first half of 2005, 36 (25%) companies have indicated that CEPA is one of the factors considered when making the investment. Some 20 (14%) companies invested because of CEPA, while others have accelerated their investment plan, and/or invested more capital or employed more staff as a result of CEPA.

FDI into Hong Kong remains strong

Latest figures show that Hong Kong continues to be the preferred destination for foreign direct investment (FDI). The Census and Statistics Department reported FDI inflows of HK$93.3 billion (US$12 billion) during the first quarter of 2005.

The preliminary total FDI for all of 2004 is HK$265.1 billion (US$34 billion).

The Ministry of Commerce’s facilitation policy for Mainland enterprises to invest in Hong Kong has also encouraged these companies to use our city as the preferred base from which to expand overseas.

According to the latest figures released by the Ministry of Commerce, in the first quarter of 2005, a total of 55 Mainland enterprises were granted approval for coming to invest in Hong Kong, involving an investment amount of HK$2.18 billion (US$280 million).

Highlights of activities

During the first half of 2005, Invest Hong Kong supported and participated in major international business events to raise Hong Kong’s profile among the international business community. They comprised events outside of Hong Kong, such as the BusinessWeek Asia Leadership Forum in Bangkok and the Canada-Hong Kong Business Forum in Ottawa, as well as international events in Hong Kong such as CIBJO Congress 2005, Rugby World Cup Sevens, 38th International General Meeting of the Pacific Basin Economic Council (PBEC) and the 88th Lions Clubs International Convention.

Invest Hong Kong has stepped up the promotion of using Hong Kong as a gateway to the Pan-Pearl River Delta area. A joint promotion with Fujian will be conducted in Germany in November.

The department has also taken its first step to conduct joint overseas promotions with Mainland provinces or cities outside of the PRD. The first Hong Kong-Shanghai joint promotion overseas organised by Invest Hong Kong and the Shanghai Municipal Government Foreign Economic Relations and Trade Commission (SMERT) took place in Tokyo in March. The seminar successfully attracted over 380 representatives from Japanese enterprises.

Invest Hong Kong continued to step up its efforts to promote Hong Kong’s advantages to Mainland enterprises. In January-June 2005, the department arranged 9 seminars in 6 cities in the Mainland -- Shanghai, Guangzhou, Shenzhen, Chengdu, Tianjin and Shijiazhuang. Invest Hong Kong has also begun organising sector-specific seminars in the Mainland, such as “Hong Kong - the platform for restaurants to go global” seminar held in Chengdu, Sichuan in March. The department plans 12 more seminars in the Mainland during the second half of this year.

A highlight of Mainland promotion activities the department sponsored this year was the International Forum on the Going Global of Chinese Enterprises 2005, which took place in Beijing in April. The Forum was organized by the Ministry of Commerce and attracted over 200 senior executives from prominent Mainland enterprises and multi-national corporations. Mr Rowse delivered a speech to promote Hong Kong to the potential investors.

Looking forward

Mr Rowse said, “The encouraging results of our work so far suggest that this is likely to be a very good year for investment promotion of Hong Kong. We expect to at least meet our original target for this year of 220 completed projects.”

Mr Rowse said, “We recognise the importance of bringing in new ideas, services and technologies into Hong Kong to strengthen the overall competitiveness of our economy. InvestHK will intensify our efforts to identify and attract more companies to establish or expand their businesses in Hong Kong, with the aim to further enhance the diversity and depth in key sectors that will contribute to our economic success this year and in the future.”

Fleet management solutions company taps Asian market through regional headquarters in Hong Kong
Thursday, July 21, 2005
Government Press Release

Florida-based fleet management solutions company, Secure Tracking Systems (STS), today (July 21) opened its regional headquarters in Hong Kong to tap the Asian market.

With its new office in Hong Kong, the company will be able to provide customised solutions and services for Asian enterprises. Fleet tracking solutions, ranging from simple vehicle tracking to comprehensive fleet management solutions, help streamline and automate a company's logistics processes.

The President and Chief Operating Officer of STS, Mr Jorge Carvajal, said, "STS is excited about the opportunities in Hong Kong and sees the Asian region as becoming our fastest growing business segment. Our Hong Kong partners have shown a very strong work ethic, and their quality is very impressive. We have great expectations for the new Hong Kong office and are proud to be a part of Hong Kong's growth."

He continued, "After a thorough research process, we decided to locate our regional headquarters in Hong Kong - the centre of Asia. The city offers us various business advantages - a modern world-class city with excellent communications infrastructure; unbeatable logistics system in the region; a comprehensive range of supporting services; close proximity to the Mainland market; its eminent position as a global financial hub; and the pool of world-class talent and expertise. All these factors make it logical for us to establish our regional base here."

According to Mr Carvajal, security is the number one problem facing the transportation industry today. STS is addressing this need via the release of an affordable GPS (Global Satellite Positioning System) tracking solution designed for vehicle fleets of any size.

The Hong Kong office will develop and select products and services, so as to meet specific needs of Asia-based clients. It will also be responsible for expanding sales channels within the region, including the Philippines, Japan, Malaysia and Mainland China.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, warmly welcomed STS's new venture in the city.

"The entry of STS into Hong Kong not only increases the depth of our IT industry, but also enhances Hong Kong's dual role as a regional logistics and service centre. Every company which sets up an operation in Hong Kong provides more opportunities and choice for the local consumer and by controlling their regional business from here STS will create high-value employment positions for Hong Kong people. We are delighted to welcome STS to Hong Kong and we will continue to work with them to support their growth," said Mr Rutherford.

Secure Tracking Systems, headquartered in Florida, US, is a global solutions provider focussing on the logistics, transport and service industries. STS adds value with products and services that enable fleet managers to improve cargo security, increase driver safety, enhance customer service and control operating costs. For more information, please visit the website at http://www.sts-locator.com.

Countries to lose visa-free status as overstayers soar
Monday Ng, Hong Kong Standard
July 25, 2005

An increasingly annoyed SAR government is stripping visa-free privileges from several Asian and African countries whose nationals are overstaying to work illegally and then claiming political asylum when caught.

So far this year, they have cracked down on arrivals from Ivory Coast, Congo, Ethiopia and Somalia. Also among the rising numbers of overstayers are Sri Lankans and Nepalese who say they are fleeing violence. According to a government source, there are at least 1,000 Sri Lankan overstayers who have not been apprehended.

Overstayers are after jobs provided by employers who are more than happy to ignore their visa-less status to pay a miserly HK$3,000 to HK$5,000 a month for long hours in marble-cutting workshops or junk yards in the New Territories, government officials say.

Most of those seeking refugee status wait until they are caught. If convicted, they face a HK$50,000 fine and two years in jail - during which time they can continue to work and be paid by Hong Kong's taxpayers.

"Many of those who ask for political asylum are not genuine refugees. They just want to stay here as long as possible working illegally," a government source said.

"It takes a lot of time and money to finally deport someone. If they are convicted and sent to jail they are paid to do work and some can end up leaving Hong Kong with about HK$8,000."

According to the Correctional Services Department, prisoners are required by law to work six days a week, unless certified physically unfit by a medical officer.

"The weekly wage for work ranges from about HK$13 to HK$110, depending on the work."

Political asylum cases are usually referred to the United Nations High Commissioner for Refugees in an exhaustive process that can take from a few months to as long as two years.

Applicants must prove they have legitimate fears of persecution on grounds of their race, nationality, religion, membership in particular social group or political opinion. They must also prove that they cannot safely return to their country.

The success rate before the UNHCR is between 11 percent and 15 percent and, once political asylum is granted, those who succeed are allowed to go on to countries that will take them. They cannot stay here. The SAR has not granted political asylum or refugee status since the policy of first port of asylum for Vietnamese boat people was abolished in 1998.

The weapon of choice for the government is to strip visa-free privileges from countries whose nationals abuse the system.

Officially, the department says visa restrictions are imposed on countries after "taking into account social, economic and political factors."

According to Immigration Department figures, about 1,500 non-Chinese overstayers have been caught each year since 2001. None have been jailed for more than 15 monthsor fined more than HK$10,000. Of those caught, the UNHCR says, 631 sought asylum in 2001. In the following two years, the figure dropped to 309 and 390 and then soared again last year to 798.

"In 2004, the asylum seekers were mainly from South Asia [66 per cent], and West Africa [13 per cent], and the rest are mainly from different African regions," the UNHCR said.

About 600 have been deported each year after serving time or having their asylum applications rejected.

One asylum seeker claims he was tortured by SAR authorities while in detention. Ali Khan (not his real name), 30, fled Pakistan in October 2003 to escape persecution because of his father's dispute with powerful politicians, including false accusations of drug trafficking and other offenses.

Khan said he stayed with Pakistani friends in Sham Shui Po until he was arrested in January last year. He was held from February 2 to February 12, before being sentenced to six months in Victoria Prison. He was sent to Ma Tau Kok Detention Centre in To Kwa Wan, where he claims he suffered unfair and inhumane treatment.

"I was asked to strip for a body search," Khan said, adding that as a Muslim he felt shame showing his body to the three officers in the room. "The three of them kept laughing at me.".

He said his cell was cold and had no no clean blankets, and although he developed a fever and flu, he was not allowed to see a doctor and received no medication.

He says he was allowed a shower once a week and detainees were not allowed to shave.

The Immigration Department has denied Khan's claims of maltreatment.

Near the end of his prison term, Khan says, he was interviewed by an immigration officer and granted a temporary stay permit on his release. He may not work in the territory and must report to the department once a week.

Prestige jeweller chooses HK as launch pad for Greater China
Monday, July 25, 2005
Government Press Release

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Jewellery firm, Mauboussin, and Zurich-based international trading company, Desco Group, recently celebrated the grand opening of the first Mauboussin boutique in Hong Kong.

Established in 1827 in Paris, Mauboussin has long been a favourite among royalty and jetsetters worldwide, with a prestigious reputation among jewellery lovers and connoisseurs alike. The brand is distributed and marketed by the Desco Group in Hong Kong.

According to the General Manager of Mauboussin, Mr Clement Brunet-Moret, the contemporary shop located in IFC Mall, Central, will be used as a strategic platform to showcase the brand to consumers in Hong Kong, as well as those from the Mainland and Taiwan.

The first Mauboussin boutique in Hong Kong represents a collaboration of importer and distributor Desco Group and international brand Mauboussin. This new investment reflects the confidence of the international retail sector in Hong Kong and reconfirms the city's leading position as a springboard for consumer brands to enter other markets in the region.

Mr Brunet-Moret said, "Hong Kong, with its stable environment and high spending power, is the ideal place to start implementing our brand. It is also the leading place and a showcase for the region.

"Early fall will see the opening of Shanghai and Taipei markets. Both will be controlled out of Hong Kong where we can find the expertise we need for our regional development," he said.

The Acting Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, paid a visit to the new Mauboussin boutique.

Mr Galpin said, "We are particularly delighted to see the addition of another luxury brand to the city, which further strengthens our sophisticated retail market. Consumers from the region do not only come to Hong Kong to shop, but also to learn and experience the latest trends in fashion and style. With the all-time-high tourist arrivals from around the world, Hong Kong has also become an even more attractive place to showcase luxury brands in Asia."

"We look forward to celebrating the business success of Mauboussin in Hong Kong. And we will continue to work closely with Desco Group to bring in more luxury brands to our city."

Founded in 1889, Desco Group has grown from a raw-silk trading company into a worldwide trading and marketing organisation, with about 560 employees worldwide. The company is engaged in the sale of raw materials, marketing of top-quality, high-class consumer articles and production.

July 26, 2005
HK ready to expand RMB business
Government Press Release

Hong Kong's banks are well-prepared and have the strength to expand renminbi business, Secretary for Financial Services & the Treasury Frederick Ma says.

Speaking today at the Forum on the Development of Pan-Pearl River Delta Capital Markets in Chengdu, Mr Ma said renminbi deposits have grown to 20 billion since local banks were allowed to run renminbi business in February last year.

Hong Kong, as a fund-raising platform for Mainland enterprises, will help and encourage them to use the city to access the international market, he said.

More than 300 Mainland firms have become listed companies in Hong Kong's stock market, representing 28% of total listed companies at the Hong Kong Stock Exchange. In the first six months of this year they accounted for 40% of total stock turnover.

CITIC Securities to set up shop in SAR
Lee Yuk-kei, Hong Kong Standard
July 30, 2005

CITIC Securities will become the first mainland brokerage to open an office overseas after winning regulatory approval to set up shop in Hong Kong.

The broker, an arm of mainland conglomerate, China International Trust and Investment Corp, said it aims to take advantage of its investment banking connections in China to win a share of that business in Hong Kong.

The firm, ranked No2 by value in handling initial public offerings on the mainland last year, underwrote 10.6 billion yuan (HK$10.17 billion) of A-share sales, or 13 percent of the IPO market that year.

With shares on the Shanghai and Shenzhen markets trading near eight-year lows, and the IPO market in the doldrums, the firm needs to diversify its revenue sources if it wants to grow.

CITIC Securities -China's first publicly-traded brokerage - is among the top 10 domestic brokers in terms of gross assets and securities trading measured by value. It ranks first among China's 130-odd securities firms in terms of net assets. Last year, CITIC chalked up profits of 650 million yuan.

"Many mainland brokerage firms hope to obtain international market exposure as one of the ways to strengthen their competitiveness," said Dong Chen, a senior analyst at China Securities. "Hong Kong is a springboard for the mainland brokers ... into the international market."

In fact, some locally-owned brokerages and investment banking firms already operate under the name of big mainland brokers, including Guotai Junan, China Everbright and Shenyin Wanguo, though their ownership and operating structure differ greatly from CITIC.

"We're incorporated in Hong Kong and we are not a subsidiary of our mainland sister firm, so we are independent and don't have a tight cooperative relationship with it," an executive at a locally-owned investment bank said.

CITIC's direct mainland ties could give it a big edge, he added. "CITIC Securities can utilise its Hong Kong arm to directly arrange a Hong Kong listing for its mainland corporate clients," the banker said. "That's an overwhelming advantage over us, not to mention over the other investment banks which have weak linkage with mainland clients."

Though standard brokerage services such as securities trading are another CITIC strength, that will be harder to leverage. CITIC's Hong Kong unit can't trade Hong Kong shares for its mainland clients because the convertibility problem of yuan remains unresolved, said Johnny Mak, associate director at locally-owned China Everbright Securities (Hong Kong). Its only opportunity may be in helping Hong Kong clients invest in mainland shares through QFII, the Qualified Foreign Investor Institution scheme, he added.

Nationals of Sri Lanka require visas for Hong Kong
Thursday, August 11, 2005
Government Press Release

The Immigration Department announced today (August 11) that from August 20, nationals of Sri Lanka will require a visa to visit Hong Kong for whatever purposes, including airside transit.

At present, nationals of Sri Lanka may visit Hong Kong visa free for 30 days.

"Hong Kong adopts a liberal visa policy under which nationals of about 170 countries and territories may visit Hong Kong without a visa and stay for between seven and 180 days," a department spokesman said.

"The Immigration Department regularly reviews its visa policies taking into account factors such as the social, economic and political situations of countries and territories concerned. The objective of our visa policy is to accord due facilitation to genuine visitors while maintaining effective immigration control."

Hong Kong Special Administrative Region passport holders currently do not require a visa to visit Sri Lanka. The spokesman reminded passport holders to check with the local Sri Lankan Consulate on the visa requirement before visiting the country in case there are any changes.

Li & Fung to buy Dutch apparel firm
Mark Lee, Hong Kong Standard
August 12, 2005

Li & Fung, the world's largest export trading company, said it will pay US$124 million (HK$967 million) for Dutch apparel trading firm Briefly Stated and will keep looking for other purchases since the strategy helped first-half profit grow 23 percent.

Group managing director William Fung said the firm still has funds for further acquisitions as it will pay for Briefly Stated in installments, starting with a US$50 million initial payment when the deal completes in September.

Fung said Briefly Stated, which reported net profits US$15.5 million in the fiscal year ended June on a turnover of about US$100 million, is classed by the group as a ``small'' acquisition.

Earlier this year Li & Fung paid a combined HK$231 million for two smaller companies, Dutch trading firm PromOcean and German firm Comet Feuerwerk, out of the US$100 million budget between this year and 2007 for small scale acquisitions to expand its business. ``For larger acquisition targets, we will be looking to finance them with bond issues,'' Fung said.

Li & Fung is looking to acquisitions to reach its targeted revenues of US$10 billion by 2007, a 66 percent increase from 2004.

Half-year net profit increased 23 percent to HK$618 million, though it was lower than the HK$629 million forecast by the market, based on a survey of five analysts polled by Reuters.

The group reported its first half gross margins improved to 10 percent from 9.4 percent a year ago as a result of higher selling prices.

``We are forecasting price inflation of between 2 to 3 percent this year,'' Fung said. He also attributed the better margins to the launch of the group's licensing business this year, which generates gross margins of 20-30 percent, compared to 8-10 percent in the sourcing business.

Fung said the group started selling products licensed by jeans brand Levi Strauss, and bed linen brand Royal Velvet this year, and will start selling home furnishings licensed by Cannon next year. He hoped the new businesses would generate sales of US$1 billion by 2007.

Li & Fung still derives most of its revenues from procuring garments and other household goods for retailers based in the United States, which accounted for 68 percent of its first half sales, and Europe, the market for 19 percent of its sales in the first half.

The group said it hopes a strategic alliance with US-based trader Daymon Worldwide, announced on Thursday, will eventually help it generate additional sales of US$1 billion a year. Daymon Worldwide works with more than 100 food retailers and supermarkets worldwide, including Wellcome in Hong Kong, and will provide Li & Fung a distribution network to market its licensed products.

KFC makes long-term commitment to Hong Kong
Monday, September 5, 2005
Government Press Release

Celebrating its 20th anniversary in the SAR today (September 5), leading global restaurant chain, KFC announced expansion plan to strengthen Hong Kong's strategic role in its worldwide business development. The restaurant also launched a foundation to serve the community.

Introduced to Hong Kong in 1985 by Swire Marketing Limited and subsequently taken over in 1997 by Birdland (Hong Kong) Limited – a franchisee of KFC's parent company, Yum! Brands - KFC now has 52 outlets in Hong Kong, serving over three million customers every month. The company currently employs more than 2,800 full-time and part-time staff. With strong confidence in our food and catering industry, KFC plans to increase the number of outlets in the city from 52 to 90 by 2009.

According to the CEO of Birdland (Hong Kong) Limited, Mr Yuka Yeung, this expansion will involve an additional investment amounting to over HK$150 million, supported by its major shareholder - Navis Capital Partners Limited, a Malaysia based company.

Mr Yuka Yeung said, "Hong Kong is a unique city, where consumers can find a variety of food from all around the world. Responding to demand from our customers, we are constantly improving the standard of our food and services. The first outlet was opened here 20 years ago. Since then, Hong Kong has become a very important market of the KFC network. We now have over 50 outlets in the city, and are confident that we will be able to nearly double the size of our operations in the next four years."

"Hong Kong's position as one of the most popular tourist destinations for travellers from the region, including the Mainland, has created an ideal platform for us to showcase our quality food and services. Our success in Hong Kong has strongly influenced the development of KFC's business in neighbouring markets."

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, officiated at the 20th anniversary celebration. He said, "It is very encouraging for us to celebrate the 20th anniversary of KFC and to learn about its future expansion plan in Hong Kong. This is a classic example of another successful long-term investment by a foreign investor in our city, which has created employment opportunities for the local workforce."

As part of the company's long-term commitment to serve the Hong Kong community, KFC also officially launched the "KFC Real Care Foundation" with an initial donation of HK$1 million. The Foundation will support charitable organisations in Hong Kong by actively participating in their programmes. The Foundation will also work with these organisations to encourage public support and contributions by making use of KFC's resources, such as placing donation boxes in the outlets and organising staff volunteer programmes.

Mr Yuka Yeung said, "We love Hong Kong and are committed to further integrate into the local community under our new corporate culture of 'KFC So Real! Real Food, Real Place, Real People'. We are not only committed to providing quality food and services to our customers, we also build goodwill with the local community at different levels. The KFC Real Care Foundation is an important milestone in our long-term development here."

Mr Rowse, who also officiated at the launch of KFC Real Care Foundation, said, "We are delighted to see KFC/Birdland expanding its corporate citizenship programme here by giving back to our community. We wish KFC/Birdland and the Foundation every success in their future development in Hong Kong."

Based in Kentucky, US, KFC has more than 13,000 outlets, serving 8 million customers daily in more than 100 countries worldwide. The restaurant chain is part of Yum! Brands, which owns other restaurant brands including Taco Bell, Pizza Hut, Long John Silver's and A&W. In 1987, KFC opened the first Western-style quick service restaurant in the Mainland. For more information on KFC in Hong Kong, please visit the website at www.kfchk.com.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

Thailand, Hong Kong Sign Agreement To Avoid Double Taxation

BANGKOK, Sept 8 Asia Pulse - Thailand and Hong Kong have opened the gates to increased bilateral trade with the signing of an agreement Wednesday to avoid double taxation between the two parties.

Thai Foreign Minister Kantathi Suphamongkhon and the Secretary for Financial Services and Treasury of Hong Kong Frederick Ma jointly signed the agreement here for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, Thailand's foreign Ministry said in a statement.

Hong Kong is currently Thailand's 10th largest trading partner, accounting for over US$6 billion in bilateral trade last year, the Ministry said.

Hong Kong has also invested around US$340 million in Thailand, making it the country's 5th largest foreign investor.

The new agreement will alleviate double taxation, effectively decreasing the cost of investment between the two sides.

The Ministry said the agreement will also create a more confidence investment climate, boosting the volume of investment between both sides and promoting the transfer of funds and technology.

It is also expected to increase tourism activities through the promotion of international transport.

Hong Kong signs MOU with Netherlands on cultural co-operation Thursday, September 8, 2005
Government Press Release

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The Secretary for Home Affairs, Dr Patrick Ho, and the Vice-Minister of Education, Culture and Science of the Netherlands, Ms Medy C van der Laan, signed a Memorandum of Understanding (MoU) on Cultural Co-operation between Hong Kong and the Netherlands today (September 8).

The MoU marks the joint efforts of the governments in strengthening the cultural co-operation in both places and provides a formal framework to promote co-operation in the field of culture.

Such co-operation will contribute to the furtherance of mutual awareness, respect, understanding, harmony and friendship between the people in the Netherlands and Hong Kong.

"By signing this Memorandum of Understanding, I believe we can build on what we have already achieved in the past and open up more creative visions and perspectives from different art and cultural exchanges in future.

"I look forward to exploring ways to further develop these co-operative initiatives and spirit and joining hands with the Netherlands to build a strong cultural alliance for the common good of the people of the two places," Dr Ho said.

Leading Chocolatier uses Hong Kong to open doors to Asian markets
Thursday, September 8, 2005
Government Press Release

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Godiva Chocolatier ("Godiva"), maker of fine Belgium chocolates, will strengthen its presence in Hong Kong to further expand Godiva's business across Asia-Pacific.

In a launch event today (September 8) for the company's new Platinum collection, Godiva's Managing Director, Mr John Holmberg, shared his company's view of Hong Kong as a business location.

Mr Holmberg explained that, to reach out to untapped confectionery markets in the region, Godiva had decided to strengthen its presence here to make use of Hong Kong's leading position as the international hub of lifestyle in Asia. Planned expansions include openings of another outlet in Sogo's Tsim Sha Tsui outlet later this month, major renovation of current Hong Kong shops, and extending the offering of Godiva’s signature icy chocolate drink.

He said Hong Kong represented an enormous growth opportunity for Godiva. "Our Pacific Rim headquarters was established in Hong Kong 10 years ago as our door opener to the Pacific Rim. As our business grows to cover more markets in the region, we see an even more important role for the Hong Kong office in the future," he said.

Godiva Hong Kong Pacific Rim manages operations of 20 retail outlets in the region, including nine in Hong Kong, three in Singapore and eight in Taiwan. The regional headquarters is also responsible for co-ordinating marketing activities, logistics and finance for offices in the region.

"Hong Kong is truly an international city and an economic centre in Asia. Visitors come from around the world to experience the most premium and luxurious lifestyle. Godiva Chocolatier is delighted to introduce the Godiva Platinum Collection in this strategic market to satisfy our consumer's most passionate desires. We are confident that our strengthened presence in Hong Kong, with the Platinum launch and our distribution expansion plan, will assure the success of our operations in Hong Kong and across Pacific Rim," Mr Holmberg said.

The Acting Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, welcomed Godiva's decision to expand its operations in Hong Kong. "We are glad to see another premier international brand recognising the advantages of Hong Kong as a regional hub. With our strong retail sector and booming inbound tourism, international brands have found that Hong Kong is one of the most exciting markets in Asia. And we continue to see retail one of our strongest growth sector. We wish Godiva all the best in the future expansion of its regional headquarters in Hong Kong and network in Asia," he said.

Founded in Brussels, Belgium by Joseph Draps 80 years ago, Godiva Chocolatier was the first company to create the concept of premium chocolate. With production facilities in Belgium and the US as well as boutiques in major cities around the world, Godiva Chocolatier is recognised internationally as both a leader and an innovator in the production of fine chocolates for gift-giving and personal consumption. For more information on Godiva Chocolatier, please visit the website at www.godiva.com.hk.

September 8, 2005
Government Press Release
Hungarian prime minister to visit HK

Hungarian Prime Minister Ferenc Gyurcsany will visit Hong Kong for two days from September 9.

He will hold a bilateral meeting with Chief Executive Donald Tsang and attend a luncheon.

He will also witness the signing ceremony of a cultural co-operation agreement between Hong Kong and Hungary, and officiate at the opening of the retrospective film show of Hungarian director Bela Tarr, organised by the Hong Kong International Film Festival Association.

I do not know if this is the right thread to ask this query - but would it be possible to have a listing of all the architects based in Hong Kong with their addresses and contact numbers? This would be of great help for a project.....

I do not know if this is the right thread to ask this query - but would it be possible to have a listing of all the architects based in Hong Kong with their addresses and contact numbers? This would be of great help for a project.....
Hong Kong Institute of Architects : http://www.hkia.net/
Listing of Architect Firms & Contact Info : http://www.hkia.net/find_architect.php
Member List : http://www.hkia.net/member_list.php

Speech by CE at luncheon for Hungarian Prime Minister
Saturday, September 10, 2005
Government Press Release

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The Chief Executive, Mr Donald Tsang, held a bilateral meeting with the Prime Minister of the Republic of Hungary, Mr Ferenc Gyurcsany, and hosted a lunch in honour of the Prime Minister in the Ritz Carlton Hotel, Central this (September 10) afternoon. Picture shows the Chief Executive greeting Mr Ferenc Gyurcsany.

http://gia.info.gov.hk/general/200509/10/P200509100136_photo_251802.JPG

Following is the speech (English only) by the Chief Executive, Mr Donald Tsang, at a luncheon for the Prime Minister of Hungary, Mr Ferenc Gyurcsany, in the Ritz Carlton Hotel today (September 10):

Prime Minister, Ms Dobrev, distinguished guests, ladies and gentlemen,

Good afternoon. On behalf of the people and the Government of the Hong Kong Special Administrative Region, it is my great honour to welcome you and your delegation, Prime Minister. I am especially delighted because I have been lucky enough to visit Budapest three times - twice as a tourist and once as Hong Kong's Financial Secretary. Having personally experienced the charms of Hungary makes it that much easier for me to help promote government, business and tourism ties between us.

Prime Minister, I am extremely pleased that our two governments will sign an MOU this afternoon on cultural co-operation. The Hong Kong SAR Government places great emphasis on nurturing our cultural industries. And Hungary, of course, has much to offer the world in the cultural sphere. Hong Kong audiences have experienced the pleasure of hearing the Budapest Festival Orchestra being led by the celebrated conductor Ivan Fischer. And this evening is the opening of the retrospective film show of the acclaimed director Bela Tarr.

Prime Minister, I congratulate you on your successful visit to Beijing to continue building strong ties between our two nations. You had the opportunity to see first-hand the magnitude of our country's rapid and orderly economic development. It is also fitting that you are wrapping up your China trip in Hong Kong. As an international financial hub with advantages like the rule of law and the world's freest economy, and as the business services and logistics centre of the Pearl River Delta, known as "the factory of the world" today, Hong Kong plays an extremely important role in our country's development.

I also offer our congratulations to the Republic of Hungary on joining the European Union last year. This has fortified Hungary's position as a trade and logistics hub, and as one of the leading economies in the fast-growing Central Europe region. It has also prompted more Hong Kong businesses to seek strategic partnerships with Hungarian companies.

We in Hong Kong are well aware of the advantages of economic co-operation. Hong Kong is the largest external investor in the Mainland, helping the Pearl River Delta (PRD) become the world's fastest-growing manufacturing basin. And Hong Kong handles the lion's share of the PRD's exports. Combining the PRD's manufacturing advantages with Hong Kong's services - financial, legal, accounting, marketing, logistics and supply-chain management - could be a lucrative business model for Hungarian companies.

Our economic co-operation with the Mainland extends to our so-called "rival" in the Mainland, Shanghai, where many of the impressive developments are funded by Hong Kong investors. We are also in the process of creating a huge regional economy involving nine southern Chinese provinces, Macau and Hong Kong. With a population the size of the EU, this new Pan-PRD grouping has tremendous potential. Taking into account CEPA, our free trade pact with the Mainland, there will be many opportunities for Hungarian business people to invest in this massive new market through Hong Kong.

New investment would add to the international flavour of Asia's world city. The Hungarian community in Hong Kong is relatively small, but active and growing. Trade between Hungary and Hong Kong grew by 41 per cent last year and surged a further 50 per cent in the first half of this year. Hungarian technology is being used in our smart ID cards and at our border with the Mainland. More and more Hong Kong tourists are putting Hungary on their must-visit list. We have an air services agreement in place, so I hope we can have direct flights soon.

As for the finer things in life, a Hungarian restaurant has recently opened in Central, and Hungarian wines are gaining popularity in Hong Kong [, including my favourite, Egri Bikaver]. From culture and technology to trade and tourism, new opportunities are emerging for Hong Kong and Hungary to co-operate and mutually prosper in a variety of areas.

Ladies and gentlemen, to paraphrase a famous line from an Oscar-winning movie, Casablanca, made by a Hungarian-born director, "Prime Minister, I think this is the beginning of a beautiful friendship."

And now, ladies and gentlemen, please rise and join me in a toast:

"To you, Prime Minister Gyurcsany and Ms Dobrev, and to the bright promise of the Hungary-Hong Kong partnership. To Hungary."

World Investment Report: Hong Kong remains key regional and global FDI destination
Friday, September 30, 2005
Government Press Release

Hong Kong retained its position as Asia's second largest destination for foreign direct investment (FDI), according to the "World Investment Report 2005", released today (September 30) by the United Nations Conference on Trade and Development (UNCTAD). Hong Kong and the Mainland, again the largest FDI recipient in Asia, accounted for over two-thirds of FDI inflows in the region last year.

UNCTAD recorded an overall increase in global FDI inflows in 2004, representing a rebound after three years of decline. Total FDI inflows reached US$648 billion in 2004, up 2% from 2003. FDI growth in Asia and Oceania was especially robust, growing nearly 50% to over US$148 billion.

Asia remained the largest FDI recipient among developing regions. FDI flows to Hong Kong increased by 150% to US$34.0 billion, the best investment growth rate among the region’s economies. According to the Report, the next largest FDI recipients in Asia, after Hong Kong, were Singapore (US$16.1 billion), South Korea (US$7.7 billion), and India (US$5.3).

According to the latest figures released by the Census & Statistics Department, Hong Kong's inward FDI in the first six months of 2005 amounted to about US$20 billion. During the same period, Invest Hong Kong has assisted 144 foreign and Mainland companies to invest here.

On a global scale, Hong Kong ranked 7th in FDI inflows in 2004, and continued to be classified as one of the "front-runner" economies. This means that the SAR out-performed its investment potential by attracting high FDI flows relative to its economic size. Hong Kong led all Asia economies and was fourth globally in the amount of inward FDI stock, with US$456.8 billion last year.

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, commented on UNCTAD's World Investment Report. He said, "It is encouraging to see that we strengthened our position as a major destination for FDI globally, rising to become the 7th largest destination for FDI in the world."

"The report's positive outlook coincides with ours. We are optimistic that Hong Kong will remain one of the largest FDI recipients in Asia," Mr Rowse said.

"While the numbers are heartening, one of the great benefits of the investment coming into Hong Kong is the innovative technological and business know-how contributed to our economy by the new entrants. Some of this know-how is cutting edge – not only in IT, technology or telecoms sectors, but also in such areas as financial services and sophisticated management consulting."

"We are aware of keen competition for FDI in the region. Invest Hong Kong will continue to undertake targetted efforts to promote existing advantages and enhance our competitive edge to attract foreign investors," he concluded.

The overall findings of the 2005 UNCTAD survey on FDI prospects for FDI in 2005-2006 are promising. More than half of the responding transnational corporations and experts, as well as four-fifths of the investment promotion agencies (IPAs), expected short-term (2005-2006) growth in FDI flows; almost all of the remaining respondents expected FDI levels to be stable. Expectations are the most positive for Asia and other developing regions.

Speech by CE at opening of AIG Asia Regional Headquarters
Thursday, October 6, 2005
Government Press Release

Following is the speech by the Chief Executive, Mr Donald Tsang, at the opening of AIG Asia Regional Headquarters at AIG Tower today (October 6) (English only):

Mr Sullivan, Mr Tse, Mr Kanak, Distinguished Guests, Ladies and Gentlemen,

It is a great pleasure to join you this evening for the opening of the new AIG Tower. This elegant, modern tower, with its glimmering lights, has added yet another icon to our skyline. But, the opening of the tower is doubly significant because it also represents a homecoming for the company.

Founded in Shanghai in 1919, AIG is one of the very few US companies that can trace its roots back to China. Since then, AIG has grown to become one of the world's leading insurance and financial conglomerates. AIG withdrew from the Mainland market in the 1950s, but returned to its 'home territory' in 1992 to tap the enormous business opportunities arising from China's breathtaking development.

In Hong Kong, AIG started business in 1930 – right on the spot we are standing tonight. The business model must have worked well, because in 1968 they moved to the landmark AIA Building on Stubbs Road, a building that still dominates the area today. And now, after almost four decades of growth, the company's flagship building and regional HQ comes back to Central.

Like many of the 3800-odd international companies with regional operations in Hong Kong, AIG has been able to take full advantage of our position as the pre-eminent international financial services centre in Asia. Our free capitalist economy, level playing field for business, and sound regulatory framework have nurtured entrepreneurship and myriad business activities. A high concentration of world-class banks, insurers and reinsurers makes Hong Kong a natural choice for conducting region-wide insurance business and operations. Hong Kong also excels in professional services, such as financial planning, asset management, debt financing and capital formation. Last year, Hong Kong was the largest equity fund-raiser in Asia, eclipsing even Tokyo. Just last week, figures showed that Hong Kong was the second largest recipient of foreign direct investment in Asia, and 7th in the world. We have positioned ourselves as the prime location for multinationals to manage their regional and Mainland business operations. We have decades of experience in the Mainland market. Our market operates within a sound and trusted legal system. We have well-established global links, a free flow of capital, a critical mass of foreign investors, and a world-class financial and communications infrastructure.

AIG's regional headquarters reinforces Hong Kong's position as an international financial centre and premier insurance hub. We have about 180 insurers operating here - the highest concentration in Asia. They include multinational insurers, professional reinsurers and specialist insurers engaging in captive, mortgage, credit, marine and other business. Hong Kong's total gross premiums reached HK$123 billion (US$16 billion) in 2004. Our insurance penetration is now among one of the highest in the world, sharing the same ranking as the US.

More noteworthy is the fact that Hong Kong's insurance industry has maintained double-digit annual growth throughout the past decade. This sustained growth does not only highlight our underlying infrastructural strength and resilience, but also our world-class regulatory system that instils confidence in market development.

I am very pleased to see that AIG will continue to use Hong Kong as its regional headquarters to manage your Asia-Pacific business. The opening of the new AIG Tower is a milestone for AIG's operations in Hong Kong and the region. It represents a strong commitment to Hong Kong and a vote of confidence in our future. With the Hong Kong economy performing well, and continued liberalisation of the insurance and financial markets in the Mainland and other emerging economies in the region, AIG is poised for strong and steady growth in the future.

I would like to wish AIG all the very best for the future and a hearty welcome home to Central. Thank you.

October 12, 2005
Government Press Release
ICICI granted banking licence

A banking licence has been granted to ICICI Bank, effective October 10, bringing Hong Kong's licensed banks to 132.

ICICI was incorporated in India in 1994. According to The Bankers' July issue, it is the second largest bank in India in terms of tier-one capital.

October 20, 2005
Government Press Release
HK-Brazil visa-free deal signed

Hong Kong and Brazil have signed an agreement offering travellers from both destinations 90-day visa-free visits.

Director of Immigration Lai Tung-kwok said the agreement will promote trade, business and tourism, and will come into affect soon.

It brings the total number of countries and territories granting visa-free access to Hong Kong SAR passport holders to 135.

UK's largest home improvement retailer arrives in Hong Kong
Monday, October 24, 2005
Government Press Release

B&Q, UK's largest home improvement retailer, announced today (October 24) that its first store in Hong Kong would open in early 2007. The store will be wholly owned by Hong Kong-based B&Q Asia Limited, a subsidiary of the Kingfisher Group. The project will involve total investment of more than HK$200 million and create about 200 new jobs for Hong Kong.

The new B&Q shop will take up 120,000 square feet over two floors in the MegaBox mall of Enterprise Square 5 in Kowloon Bay. MegaBox is Hong Kong's first vertical mega mall, with more than 19 storeys across 1.1 million square feet of retail space. A signing ceremony was held today to mark the co-operation between B&Q and MegaBox Development Co. Limited, a subsidiary of Kerry Properties Limited.

"We are delighted to be announcing this exciting expansion into Hong Kong. Hong Kong is one of the largest and most affluent markets in Asia and is a centre for retailing excellence. We believe a B&Q store here will benefit Hong Kong consumers by making home improvement more accessible," the CEO of B&Q Asia Limited, Mr Steve Gilman said.

The Executive Director & General Manager of MegaBox Development Co. Limited, Mr Tom Tong was delighted to welcome B&Q to join MegaBox, Hong Kong's first vertical Mega Mall which offered a unique concept in tenant mix. "The addition of B&Q is a key component in building our family-driven retail attractions," he said.

Mr Gilman said B&Q would be the first big box home improvement retailer in Hong Kong. It will offer a wide range of home improvement products, with more than 25,000 individual product lines available under one roof. B&Q will also provide quality services solutions, including installation and decoration services for apartment and room renovations.

Mr Gilman expects the new store to do well. "We not only hope to introduce our products, but also to bring in a new concept of DIY home improvement to the Hong Kong market. We are confident that our quality assured services and international and B&Q branded products, complemented by an inspirational environment, will excite and well received by local consumers," he said.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, warmly welcomed the investment by B&Q Asia in Hong Kong. "We at Invest Hong Kong are delighted to see this vote of confidence by a major European retailer in Hong Kong. We look forward to celebrating the grand opening of the new B&Q shop in 2007, and will continue to working closely with B&Q to facilitate their further expansion," he said.

B&Q is the number one Do-It-Yourself (DIY) retailer in Europe and the third largest in the world. With more than 60 stores opened internationally, including Beijing, B&Q employs more than 38,000 staff worldwide. For more information about B&Q, please visit the website at http://www.diy.com.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

Spanish company expands in toy capital of the world
( 28/10/2005 )
Trade Development Council

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(From left) IMC's Country Manager-Hong Kong and China, Jorge Oltra; General Manager, Albert Ventura and Head of Trade Related Services, Invest HK, Charles Ng, looking at the products designed by IMC

Spain's IMC Toys ("IMC") recently announced the opening of its new regional sourcing office in Hong Kong. The expanded Hong Kong operation will also be used as a regional office.

IMC's general manager Albert Ventura said the toy company sees Hong Kong as a strategically important location to co-ordinate international business activities in the toy sector.

"Hong Kong is known as the toy capital of the world, conveniently located next to the Chinese mainland factories and offering flexibility, unparallel logistics & banking services, transparent rule of law and skilled English-speaking workforce. If you are in the toy business, you have to be in Hong Kong."

Founded in Spain in the early 80s, IMC provides product design, sourcing and production of toys for clients around the world. In 2001, the company established an international marketing office in Hong Kong. Given the exponential growth in business in recent years, the company has decided to strengthen its presence in this region by expanding its Hong Kong office into its regional sourcing centre.

The larger Hong Kong office, with 20 staff, offers quality service to its customers and manages all international sales, and supervises the manufacturing of products. According to Felipe Almirall, R&D director of IMC, the company plans to hire more staff in 2006.

The new regional office in Hong Kong will work closely with other IMC commercial offices around the world, including the UK, Portugal and, soon, France.

Speaking about future developments in Hong Kong, Jorge Oltra, IMC's newly appointed country manager for Hong Kong & China, said: "As long as China offers competitive manufacturing and the toy business gravitates around Hong Kong, we will continue investing in Hong Kong according to the business needs."

The Associate Director-General of Investment Promotion at Invest Hong Kong, Simon Galpin, said the city "creates great opportunities for international toy companies like IMC - to enjoy convenient access to the manufacturing facilities in the mainland and also tap the expertise from experienced management and logistics talent in Hong Kong."

Canadian label manufacturer sews presence in apparel hub
( 28/10/2005 )
Trade Development Council

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(Left) CEO of Landes Hong Kong Limited, Udo Scherff, introduces the process of manufacturing leather label to the Director-General of Investment Promotion at InvestHK Mike Rowse at its factory in Hong Kong
Canadian leather label manufacturer Landes Canada Inc. has chosen Hong Kong for its Asian regional headquarters and factory.

Landes makes real leather and imitation leather labels and leather trims for the denim apparel industry. The CEO of Landes Hong Kong Limited, Udo Scherff, and President, Mrs. Dagmar Scherff, said Hong Kong is an excellent location for the company's regional headquarters and manufacturing facility.

Landes Hong Kong will be responsible for all aspects of its business in Asia, overseeing the new factory for screen-printing and embossing services. It has been established to handle the requirements for all of Asia from South Korea to Mauritius, Pakistan, and even Lesotho.

Hub for apparel industry

Mr. Scherff explained: "Seeing the rapid growth of denim apparel manufacturing in China and throughout Asia, Landes saw the need to establish its presence in a strategic location in the region. Since Hong Kong is a hub for the apparel industry in Asia, it is the logical place to build our regional base. With the new office and manufacturing facilities in Hong Kong, we will be able to provide more efficient and timely service to our clients in the denim industry which manufacture in Asia."

Landes currently has a total investment in Hong Kong of about HK$12 million (US$1.5 million). Its 10,000 sq ft new factory is located in the industrial district of Kwun Tong, which used to be a centre for denim apparel factories. According to the company, the plentiful supply of skilled labour and office staff here who are familiar with the apparel business is a big advantage. With initial employment of 23 staff, Landes' production in Hong Kong has been building up since the first machines arrived last November. Over 1 million labels are produced per month.

The parent company of Landes Hong Kong Limited, Landes Canada Inc., is based in Granby, Quebec, Canada. Established for over 30 years, the company serves most leading denim brands. Landes Canada continues to serve the denim apparel market in North America, as well as Latin America.

Software giant sets up Asian hub
Computer Associates picks HK as it taps into growth opportunities in the region
Bien Perez
4 November 2005
South China Morning Post

Computer Associates International (CA), the world's fifth-largest software company, has picked Hong Kong as its Asia-Pacific and Japan headquarters with an eye to increase business in China and other emerging markets in the region.

New York-based CA, with a market capitalisation of about US$16 billion and annual revenue of US$3.5 billion, will set up its regional offices at Three Pacific Place in March next year.

The headquarters will house the "management hub", comprising 130 senior staff.

The move comes 20 years after CA first set up a business in Hong Kong, one of its earliest outposts in Asia. Today, it has more than 15,300 employees worldwide, almost 3,000 of whom are in the region.

"Asia-Pacific and Japan are where we will see significant growth this century, with China as our fastest-growing market," said Jeff Clarke, the chief operating officer.

He noted that the region contributed about US$400 million to the firm's annual revenue.

Mr Clarke said the move to Hong Kong was a strategic "multimillion-dollar investment" that would help the firm achieve "double-digit growth in the region for many years to come".

The firm develops, markets and sells network management, security and storage software that boost the efficiency of enterprises' information-technology infrastructure.

It joins 3,800 large firms that have their regional headquarters in the city, according to Invest Hong Kong. CA had no regional base in Asia previously.

John Ruthven, the company's senior vice-president and general manager for Asia-Pacific and Japan, said the region could offer "an addressable market opportunity" worth US$15 billion for its product lines over the next five years.

"We are seeing double-digit percentage growth across our target segments," Mr Ruthven said.

"This is the region to be in right now."

Research company International Data Corp forecast annual information-technology spending growth of 30 per cent in China and 28 per cent in India from last year to 2009.

Hong Kong welcomes the world's first New Zealand Concept Centre
Saturday, November 5, 2005
Government Press Release

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The world's first New Zealand concept store, New Zealand Focus, celebrated its opening in Hong Kong today (November 5).

Located in Causeway Bay, the 6,800 square-foot, three-level shop is a New Zealand retail and information centre. It offers a range of New Zealand experiences -- from shopping for premium wines, food and natural health products to investigating travel packages, flights and educational institutions -- under one roof.

Mr Jim Sutton, New Zealand Minister for Trade Negotiation and other guests officiated at the opening ceremony today. Mr Sutton discussed his government’s commitment to Hong Kong and North Asia.

"North Asia offers more potential for New Zealand's future growth than any other region in the world today," said Mr Sutton. "We see Hong Kong as playing a vital role in expanding New Zealand's trade opportunities in this region. Establishing our first concept centre here is a demonstration of our commitment."

The Centre creates a business platform for New Zealand exporters to reach Hong Kong and Greater China markets. It will be a place for importers and buyers to come and explore possible business opportunities with New Zealand companies.

The Regional Director, North Asia of New Zealand Trade and Enterprises, Mr Merv Stark, said, "Hong Kong is still very much the gateway to China. The centre serves as a stepping stone for establishing partnerships and fostering trade and investments in the Mainland and the rest of the region. We can assist New Zealand businesses in gaining a foothold here before they commit to a major export drive."

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, warmly welcomed New Zealand Trade & Enterprise's decision to choose Hong Kong to pioneer the new concept. He said, "This centre not only demonstrates the close investment and trade relationship between New Zealand and Hong Kong, but also our city's role as the key business hub in the region. We wish you every success in further developing and expanding the concept and centre here."

Leading global container shipping company strengthens presence in Hong Kong
Tuesday, November 8, 2005
Government Press Release

One of the world’s largest container shipping companies and the flagship of Israeli shipping, Zim Integrated Shipping Services, has expanded its presence in Hong Kong as part of a proactive strategy to enhance its regional development. Zim recently completed the full ownership of its well established agency in Hong Kong, and its established logistic arm – Zim Logistics HKG Ltd - to deepen the company’s direct presence in the city.

“This area is the largest and most active region within our company, and we find Hong Kong as an excellent base for further expanding of the company penetration into China and the Asia Pacific region,” the President - Asia Pacific Region of Zim, Captain I Dafni, said.

Zim is the 13th largest container shipping company in the world. It operates a large and modern fleet of 95 vessels offering a variety of global and regional services.

Sun Hing Shipping, regarded as one of the most active shipping agencies in Hong Kong, was founded in 1945, and has been the General Agent in Hong Kong for Zim since the late 1950s. The new company name will be Sun Hing Agencies Ltd.

According to Captain Dafni, the additional investment in Hong Kong, one of the most important shipping hubs in the world, would strengthen the company’s regional network which offered customers excellent connections to the rest of the world. The company’s network now covers the Mediterranean, Europe, the US, Central and South America, Africa and Asia.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, welcomed Zim’s expansion in Hong Kong. “Zim’s decision to strengthen its direct presence in Hong Kong demonstrates our leading position as a base for shipping companies to develop and grow their business across the region," he said. "In addition to Zim, many major players in the container shipping industry have established regional offices or operations here, making our city the most dynamic shipping hub in Asia. We congratulate Zim on its expansion in Hong Kong, and look forward to celebrating its further growth in the region through Hong Kong.”

Zim operates a network of subsidiaries and affiliated companies globally with particularly vast investments and network in Greater China including own offices for shipping activities and for logistics activities. The company offers a range of shipping-related, customised services to meet clients’ needs, including freight-forwarding, customers’ brokerage, off-dock container terminals, warehousing, trucking, container repair and maintenance, maritime communications and navigation equipment, logistics, insurance and more. For additional information about the company, please visit the website at www.zim.co.il.

lots of new firm coming into hk!

Italian IT and consumer electronics group upgrades HK office to international HQ
Thursday, November 24, 2005
Government Press Release

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An Italian designer and manufacturer of IT and consumer electronics, Nortek International, announced today (November 24) the expansion of its Hong Kong office.

The President and CEO of Nortek Group, Mr Marco Viale, explained why the company decided to upgrade its regional office in Hong Kong to its international headquarters. "Since our establishment here in 2003, the group has enjoyed tremendous business growth. We attribute our success largely to the Hong Kong operation which is at the core of our international strategy.

"Hong Kong is conveniently located in the centre of Asia and has excellent transport links to all major world cities. The city is close to the Mainland, where our manufacturing operations are located," Mr Viale said.

"We will maintain our design function in Italy and emphasis on our original Italian concept. However, having an international headquarters in Hong Kong enables us to collect the latest intelligence on market trends and international lifestyle, which are essential elements in developing our designs. Hong Kong is also the best window to showcase our products to the world, since the city is one of the most popular business and travel destinations.

"In addition, its abundant channels and free flow of information have created an ideal marketing platform for our products. We are pleased with the development of our business in Hong Kong, and we think that Hong Kong is the best city in the world to build our brand awareness!"

Nortek's international headquarters in Hong Kong will be responsible for worldwide sales. Serving as the company's global manufacturing and commercial hub, the Hong Kong office will be working closely with its Italian headquarters on product development, overseeing and coordinating the sourcing of products from the Mainland and other logistics arrangements.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, warmly welcomed Nortek's increased commitment in Hong Kong during a courtesy visit to its expanded office. He said, "Technology has become an essential part of life and in this highly competitive marketplace, products can only stand out with cutting-edge functionality and unique design. Companies like Nortek, which combine strengths in product design and technological innovation, are well positioned to compete in regional and global markets particularly when they combine their own strengths with the undoubted benefits of Hong Kong as a regional and international hub. Invest Hong Kong has been working with Nortek for a number of years and it is delighted that the group will use Hong Kong as its base for international operations. We wish the company every success in their operation here."

The Italian-based Nortek was established in 1994. It is a manufacturer of PC peripherals and other consumer electronic goods, including keyboards, mouses, webcams, audio sound systems, mp3 players, DVD players and LCD monitors. For more information about the company, please visit the website at www.nortekonline.com.

European aerial filming specialist sets up base in Hong Kong's Cyberport
Tuesday, November 22, 2005
Government Press Release

Flying-Cam, a close range aerial shooting technology company, has announced the opening of an office in Cyberport - its first in Asia - named Flying-Cam Asia. Since its establishment in 1988, Belgium-based Flying-Cam has become the world leader in close range aerial filming, using unmanned helicopters.

“Today, Asia, China particularly, is one of the most exciting emerging markets in the world," the President and Founder of Flying-Cam, Mr Emmanuel Previnaire, said. "Located in the heart of Asia, Hong Kong assures us strategic access to the vast Asian market from a world-class regional centre. Hong Kong offers highly skilled managerial, technical and creative manpower operating in a fair and friendly business environment with low taxes and excellent infrastructure. In addition, English is widely spoken and understood, and I love the city!”

With three crews based in Belgium (Liege), USA (Santa Monica) and now Hong Kong, Flying-Cam will be able to provide full and timely support to clients around the world. Eight Flying-Cam helicopters are available from these three international bases to go to any place in the world with 48 hours’notice.

Flying-Cam has filmed in more than 45 different countries for more than 700 clients. The company was involved in the film productions of Harry Potter and James Bond series, and many more films and commercials.

Flying-Cam is more than a technical filming company. Although well acclaimed in the motion picture industry, Flying-Cam has participated in the production of TV and electronic field productions for live broadcast, documentary, industrial and institutional production and exercises including civil protection programmes such as NASA’s programmes: “Global HASMAT Response Technology” and DART “Disaster Assistance Rescue Team”.

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, welcomed the addition of another international market leader in the film industry to Hong Kong. “The Hong Kong Government recognises the importance of the creative industries in strengthening our competitiveness in today's international business arena, and we are committed to build a favourable environment for these industries to prosper in Hong Kong," Mr Rowse said. "It is particularly encouraging for us to see international players like Flying-Cam choosing Hong Kong as their regional base and bringing in innovative technologies, creative ideas and specialised skills. The availability of the company’s services will further enhance Hong Kong’s overall offering and attract even more market players to invest in Hong Kong.”

Mr Previnaire also said, “With a third office opened in Hong Kong, our accessibility will be greatly enhanced. This will allow the entertainment industry in Asia to access the best technology in close range aerial filming.”

The aeronautical design, quality of manufacture, safety features and maintenance procedures of the Flying-Cam are equivalent to the standards used in general aviation. The vehicle has all the characteristics required for safe operation even in the middle of a city or close to major actors.

In 1995, Emmanuel Previnaire received an Academy Award for Technical Achievement by the Academy of Motion Picture Arts and Sciences for his pioneering concept and development of mounting a motion picture camera on a remote controlled miniature helicopter. For more information about Flying-Cam, please visit the website at http://www.flying-cam.com.

BBC NEWS

Thousands march for HK democracy


March in Hong Kong
The turnout was bigger than had been predicted
Tens of thousands of people have taken part in a march in Hong Kong to demand a fully democratic political system.


Trade unions, activists and civic groups joined ordinary citizens, some carrying banners denouncing China.

They snaked round streets lined with sky-scrapers towards government offices chanting "now or never" and "do you want a clown or a chief executive?".

Campaigners say they want the Chinese autonomous territory's next leader to be elected by universal suffrage.

In response to mass protests in 2003 and 2004, Beijing made some concessions, namely offering to enlarge the 800-strong election committee charged with selecting a new leader.

However, opposition leaders say the proposals do not go far enough.

Clear message

The BBC's Chris Hogg in Hong Kong said the march appeared to be much larger than many had predicted, with many ordinary citizens and their families taking part.

Organisers, the Civil Rights Front, said 250,000 people took part in the march while police said the figure was nearer to 63,000.

"I just feel there are moments in one's life when you have to stand up and be counted," said Anson Chan, Hong Kong's former deputy leader and a first-time marcher.


HAVE YOUR SAY
Hong Kong is completely ready for democracy
Beau, Hong Kong (US citizen)

Send us your comments

Palu Cheung, 42, who brought his four-year-old daughter, said: "I want my daughter to know that I do this for her and for myself," he told Associated Press. "I think we have the quality to select our own government."

Our correspondent says the rally organisers hope a large turnout will send a clear message to Beijing that they want direct leadership elections and a fully-elected parliament.

"This is make-or-break time," Martin Lee, the veteran leader of the pro-democracy movement told Agence France Presse.

"The more people that come on the march, the more the government will have to do something about this," he said.

Following the protest, Hong Kong leader Donald Tsang said he shared the same goal as the protesters.

"I've heard their voice. I have felt their feelings and I share their pursuit," he told a press conference.

"I am 60 years of age. I certainly want to see universal suffrage taking place in Hong Kong in my time."

Timetable for change

The chief executive is currently chosen by a committee made up of about 800 Hong Kong residents selected by Beijing.

But the island's constitutional document, or Basic Law, contains provisions for ultimately electing the leader by universal suffrage.

However, China has refused to implement such reforms to allow the people of Hong Kong to elect their next leader in two years time.

Pro-democracy campaigners say if that remains the case, they should be given a timetable and told when they will be allowed to vote for who rules them.

One lawmaker, Lee Cheuk Yan, said people "are very much disappointed" over the long wait.

In demonstrations in 2003 and 2004, 500,000 people have taken to the streets to protest against the policies of Hong Kong's government.

The rallies shook the administration and its political masters in Beijing. Some say they cost Hong Kong's former leader, Tung Chee-hwa, his job.

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Hong Kong's former No. 2 official, Anson Chan, at Sunday's march.


CNN NEWS:
http://www.cnn.com/2005/WORLD/asiapcf/12/04/hk.march.ap/index.html

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Leading Italian IT and consumer electronics group upgrades Hong Kong office to international headquarters
Thursday, 24 November, 2005
Government Press Release

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An Italian designer and manufacturer of IT and consumer electronics, Nortek International, announced today (24 November) the expansion of its Hong Kong office.

The President and CEO of Nortek Group, Mr Marco Viale, explained why the company decided to upgrade its regional office in Hong Kong to its international headquarters. He said, “Since our establishment here in 2003, the group has enjoyed tremendous business growth. We attribute our success largely to the Hong Kong operation which is at the core of our international strategy.”

“Hong Kong is conveniently located in the centre of Asia and has excellent transport links to all major world cities. The city is close to the Mainland, where our manufacturing operations are located,” said Mr Viale.

“We will maintain our design function in Italy and emphasis on our original Italian concept. However, having an international headquarters in Hong Kong enables us to collect latest intelligence on market trends and international lifestyle -- which are essential elements in developing our designs. Hong Kong is also the best window to showcase our products to the world, since the city is one of the most popular business and travel destinations.”

“In addition, its abundant channels and free flow of information have created an ideal marketing platform for our products. We are pleased with the development of our business in Hong Kong, and we think that Hong Kong is the best city in the world to build our brand awareness!”

Nortek’s international headquarters in Hong Kong will be responsible for worldwide sales. Serving as the company’s global manufacturing and commercial hub, the Hong Kong office will be working closely with its Italian headquarters on product development, overseeing and coordinating the sourcing of products from the Mainland and other logistics arrangements.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, warmly welcomed Nortek’s increased commitment in Hong Kong during a courtesy visit to its expanded office. He said, “Technology has become an essential part of life and in this highly competitive marketplace, products can only stand out with cutting-edge functionality and unique design. Companies like Nortek, which combine strengths in product design and technological innovation, are well positioned to compete in regional and global markets particularly when they combine their own strengths with the undoubted benefits of Hong Kong as a regional and international hub. Invest Hong Kong has been working with Nortek for a number of years and are delighted that they will use Hong Kong as their base for international operations. We wish the company every success in their operation here.”

The Italian-based Nortek was established in 1994. It is a manufacturer of PC peripherals and other consumer electronic goods, including keyboards, mouses, webcams, audio sound systems, mp3 players, DVD players and LCD monitors. For more information about the company, please visit the website at www.nortekonline.com.

Hong Kong's first Dutch law firm opens
Tuesday, 29 November, 2005
Government Press Release

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The first Dutch registered foreign law firm in Hong Kong, Bloemers De Neree Advocates, today (29 November) officially announced its new office here. The firm sees Hong Kong as a strategic two-way platform to serve European clients doing business in China, as well as Chinese investors looking for investment opportunities in Europe.

Established by Thijs Bloemers, Ralph de Neree and Alexander de Neree, Bloemers provides legal and financial advice to entrepreneurs who are doing business in China or wish to enter the Chinese market. It also advises European companies and individuals based in China about the financial opportunities available in the Mainland and Hong Kong.

Senior partner with Bloemers De Neree Advocates, Mr Alexander de Neree, said, “For European investors, China presents many great business opportunities. However, doing business in China also means facing uncertainties and taking risks, including the different business etiquette, the language barrier and the uncertain outcome of negotiations and effectiveness of legal agreements. It is important for the investors to seek practical guidance from legal professionals with market knowledge and experience.”

He continued, “Hong Kong is the service centre for Asia. For providing high level legal services that often require complex financing – and when things go wrong, a strong legal system – Hong Kong is the best place from which to work.”

According to Mr De Neree, the new Hong Kong office has created many new opportunities for the firm. He said, “We are expanding our services with a real estate law office in Amsterdam to provide legal advice for Chinese investors interested in that field. And at the same time, through our Hong Kong office, we will be able to advise the clients in the Netherlands on structuring real estate investments by Dutch companies in China.”

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, congratulated the firm on its opening.

He said, “We are delighted to welcome the first Dutch law firm in Hong Kong. The presence of foreign law firms in Hong Kong has strengthened our professional services sector, one of the key offerings of Hong Kong to overseas investors. These law firms are also important partners of Hong Kong. By serving clients in their home markets, they facilitate foreign trade and investments with Hong Kong, or through Hong Kong with the Mainland. We wish Bloemers De Neree Advocates every success.”

Located in Bank of America Tower, Bloemers De Neree Advocates provides services in English, Dutch and German. For more information about the firm, please visit the website at www.bldn.com.hk.

Australian serviced office provider, Servcorp, expands to tap opportunities in Hong Kong
Wednesday, 30 November, 2005
Government Press Release

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Australian-based pioneers of the serviced office and virtual office, Servcorp, announced its expansion in Hong Kong today (30 November) with the opening of its third centre in Central.

Located on Level 39, One Exchange Square, the new centre will be supported by fully trained multi-lingual professional staff.

The General Manager, Asia and CIO of Servcorp, Mr Marcus Moufarrige, said that the company saw tremendous opportunities in Hong Kong for the business services sector. He said, “Hong Kong’s free flow of trade, capital and information are essential to our business success. Under the stable and business-friendly environment, we have achieved healthy growth in our businesses since our establishment here in 2000.”

“Moreover, Hong Kong is the hub of Asia and the gateway to China. The city has attracted thousands of the world’s top corporations to set up business operations or representative offices, and we see this trend growing. Once a company makes a decision to do business in a new location, it wants to have everything up and running as soon as possible, and at the lowest cost.”

“However, the company also expects to maintain the level of services found in its head office. This has created many opportunities for us. We grow in locations where our clients grow their businesses - this is exactly why we decided to further expand in Hong Kong,” said Mr Moufarrige.

According to Mr Moufarrige, 50% of the world's top 500 companies have offices in Servcorp facilities. The company provides serviced and virtual offices with state-of-the art communications and the most up-to-date corporate infrastructure such as boardrooms, meeting rooms. Servcorp also offers a well trained professional team of bilingual secretaries and receptionists.

Officiating at the opening of the new Servcorp centre, the Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, congratulated the company on its expansion.

He said, “We are delighted to see the continued growth of Servcorp in Hong Kong – which provides direct and powerful evidence of foreign investors’ positive outlook on our business environment. The presence of world-class business services providers like Servcorp is very important to the overall competitiveness of Hong Kong in attracting overseas companies.”

“Report on 2005 Annual Survey of Regional Offices Representing Overseas Companies in Hong Kong shows that availability of business services and professional support services is considered to be one of the most important factors affecting the choice of location for setting up regional operations. And more than 60% of the surveyed foreign companies in Hong Kong regarded this as an advantage for our city. We at Invest Hong Kong wish Servcorp every success in its future development here,” Mr Galpin concluded.

Founded in 1978 in Sydney, Australia, Servcorp today has presence in more than 50 locations worldwide, including New Zealand, Japan, Mainland China, Hong Kong, Malaysia, France, Belgium and U.A.E. It is publicly listed on the Australian Stock Exchange. For more information about Servcorp, please visit the website at www.servcorp.net.

First Indian logistics company establishes operations in Hong Kong to seize opportunities as hub between India and the PRD
Thursday, 8 December, 2006
Government Press Release

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The increasing trade link between Hong Kong and India has drawn the Indian leading express distribution and integrated freight provider, GATI, to establish its new office in Hong Kong to tap on the business opportunities between India and the Pearl River Delta Region.

As the 11th largest trading partner of Hong Kong, India-Hong Kong bilateral trade reached a total of US$ 5.77 billion for the period of January to September 2005, a growth rate of 29% compared to the same period in year 2004.

GATI, the first Indian logistics company that set a foothold in Hong Kong, aimed to seize the opportunities to establish its gateway to southern China and transshipment hub between China and India through its Hong Kong operation.

Announcing the new move today (8 December), the Managing Director & CEO of GATI Limited, Mr. Mahendra Agarwal, said, “Our key thrust into Hong Kong is in establishing a sales and marketing presence and developing strategic relationships. Hong Kong is a key market for India-centric business because of its business ties and geographic proximity to the Pearl River Delta. GATI, a household name, in India, plans to build awareness through integrated marketing initiatives.”

“Hong Kong with its sound infrastructure, world-class facilities and strategic geographical position is a natural choice to be the lynchpin of GATI’s business in the Pearl River Delta,” he continued.

GATI plans to focus on developing express distribution and integrated freight business opportunities with companies that plan to enter or are already operating in the Indian market.

Mr. Mahendra expressed that an India-centric strategy makes sense for GATI’s international business for many reasons; India is the world’s fastest growing market after China, imports into India are growing at a rate of approximately 16% per annum, and GATI’s unparalleled delivery reach, multi-modal connectivity, world-class e-solutions, and state-of-the-art logistics capability makes GATI the ideal logistics partner for companies importing to and doing business in India.

The company plans to increase its direct employee strength in the Asia Pacific region to 50 and its indirect strength to 10 times this number in the next three years.

The Vice President of International Business of GATI, Mr. Brad Jeffreys, said, “We have already formed customer relationships with several businesses and multinational companies in Hong Kong, and early feedback indicates that GATI’s key strengths and capability in India equip us with a genuine value proposition to offer in the China market. Regionally, GATI provides a logistics gateway to India.”

“The company would look for joint venture opportunities with regional leaders as a means of achieving integrated growth,” said Mr. Jeffreys.

Both the Consulate General of India, Hong Kong, and Invest Hong Kong welcome GATI’s presence and investment in Hong Kong.

At the opening ceremony of GATI Hong Kong Limited, the Consul General of India, Mr. B.K. Gupta, said, “Efficiency, reliability and speed are not only the hallmarks of the Hong Kong economy but also the essence of GATI - - with connectivity to 580 districts in India, GATI Hong Kong would be the ideal choice for the Indian community and global businesses in Hong Kong seeking business opportunities in vibrant India.”

Speaking at the same occasion, the Associate Director-General of Investment Promotion at Invest Hong Kong, Mr. Simon Galpin, said, “GATI’s decision to build its direct presence in Hong Kong is timely. The rapidly growing economy in the Pearl River Delta has created tremendous opportunities for international logistics services providers. We believe that the company’s established network in India, coupled with Hong Kong’s extensive international connectivity, will strengthen our offering to business in Hong Kong and the Pearl River Delta. We are excited about the development, and look forward to working closely with the company in its future expansion in Hong Kong.”

Headquartered in Hyderabad, GATI provides customs clearance services at major sea ports in India and at 8 major airports in India, namely Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, New Delhi, Mumbai and Trivandrum. Regarded as the market leader in express distribution in India, it is the only company that delivers to 580 out of the 590 districts.

Established in 1989, the company owns 38 warehouse facilities with total area of 600,000 sq ft and offers third party logistics, retail logistics, and full supply chain management solutions. In Asia Pacific, GATI has an established network of offices in Sri Lanka, Bhutan, Singapore, Hong Kong, Beijing and Shanghai, with 2,600 employees and 3,400 business associates and vendors. For more information, please visit the website at www.gati.com.

Sinosteel opens subsidiary in Hong Kong as base to ‘Go Global’
Thursday, 8 December, 2005
Government Press Release

Sinosteel Corporation announced today (8 December) the official opening of its subsidiary, Sinosteel International Holding Co Ltd (“Sinosteel International Holding”), in Hong Kong. The company views the new operation as an important initiative as part of its global business strategy.

The President of Sinosteel Corporation and the Chairman of Sinosteel International Holding, Mr Huang Tianwen, said, “We are committed to establishing a strategic international platform to raise the group’s capability and competitiveness in the global marketplace. As the overseas assets management company directly under Sinosteel Corporation, Sinosteel International Holding will adopt Sinosteel Corporation’s professional and international business strategy to compete and co-operate with global players.”

Sinosteel Corporation is a large state-owned enterprise under the administration of the State-Owned Assets Supervision and Administration Commission. It is a large multinational enterprise with clear-defined core business that integrates resources exploiting, trade forwarding, science and technology, and promotes comprehensive services for steel industry and mill. It was the first state-owned enterprises to “Go Global”. It has established iron ore and chrome ore resource bases in overseas markets, including Australia and South Africa, to secure mineral resources for the sustainable development of the China economy.

The new holding company in Hong Kong will play an important role in managing and co-ordinating the business operations and development of Sinosteel’s overseas subsidiaries. These include Sinosteel International Ltd, Orient Joyce Investment Ltd, Golden Prosperity Development Ltd, Sinosteel International Macao Commercial Offshore Ltd, China Sinosteel (Singapore) Pte Ltd and Sinosteel International (Beijing) Consultant Ltd. Sinosteel International Holding will eventually be responsible for other Sinosteel businesses and assets overseas.

Sinosteel International Holding will support the internationalisation of the company’s core businesses and key products. It will also be responsible for strengthening the group’s overseas assets and business structures, exploring and developing resources and investment opportunities and finding trade opportunities with developing countries.

Mr Huang said, “We are confident that Sinosteel International Holding is well-positioned to enter the world market. From our excellent platform in Hong Kong, the international business centre of Asia, we will be able to expand our capabilities in finance, IT, management, commerce and logistics. We look forward to working closely with various business sectors in Hong Kong and in other markets to provide the best service to our customers.”

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, congratulated Sinosteel on the opening of its new company in Hong Kong. He said, “We are delighted that Sinosteel has decided to use Hong Kong as its strategic base to consolidate and expand its global business. This is becoming an increasingly popular model used by Mainland enterprises. For companies operating in different industries in different markets, Hong Kong offers an excellent environment to manage regional or international networks. Our city provides what companies like Sinosteel need – a sophisticated financial system; a large pool of skilled professionals well-versed in international business, and an internationally recognised legal and accounting system.”

“Hong Kong is playing an increasingly important role in helping Mainland enterprises expand overseas and Invest Hong Kong is developing a strong track record in assisting these companies through our Mainland and industry sector-focused teams. We wish Sinosteel every success, and look forward to working with the company as it continues to grow in Hong Kong,” said Mr Rutherford.

Sinosteel International Holding is a subsidiary of Sinosteel Corporation, which has 54 subsidiaries based in the Mainland and overseas. By the end of 2004, the total assets of Sinosteel had reached RMB 13.5 billion. For more information, please visit the website at www.sinosteel.com.

California-based software developer relocates its headquarters to Hong Kong
Wednesday, 14 December, 2005
Government Press Release

Technology Innovator Crossark announced today (14 December) the relocation of its headquarters from California to Hong Kong. Specialising in innovation and software development, the company plans to contribute to IT innovation development in Asia from its Hong Kong base.

The new Hong Kong operation will develop various technology start-up businesses with a focus in China and other Asia regions. To capture the opportunities in the rapidly growing Asian market, Crossark has also established a software development partnership in Beijing and Guangzhou. Its presence in Hong Kong provides an efficient and effective platform for the company to manage the partnership.

The Director and Founder of Crossark, Mr Simon Chan, said, “We want to bring the high-tech start-up culture from Silicon Valley to Hong Kong with a vision of transforming Hong Kong into the best value, innovation powerhouse in Asia. There are many local-born talents with vision, dreams and passion towards IT innovations here. The city is well positioned to lead the next wave of the technology boom, which we believe will be driven out of Asia.”

As a first step, the company’s first innovation - an online career planning service http://www.crossia.com offering personalised platforms for individuals - was developed by talented local IT professionals trained in Hong Kong universities. The company believes that Hong Kong is the natural window to launch products tailored for Asian markets.

Based on his previous experience in setting up and running businesses in Silicon Valley, Mr Chan commented that for high-tech start-up companies, Hong Kong is a first rate location.

He said, “With the free flow of capital in Hong Kong, business development here encounters no boundaries. The clear procedures and transparent regulations in Hong Kong enable companies to set up very quickly and smoothly.”

He also pointed out that the most important factor for companies choosing Hong Kong as a business location was the abundant opportunities available. “Some people think that the cost of office rental and salaries is too high in Hong Kong as compared to other cities in the Mainland and in Asia. However, they have overlooked what leads to the success of top global IT hubs today. Silicon Valley is one of the most expensive places in terms of office rental and salaries. Yet it is still the top choice for entrepreneurs, due to the availability of talented professionals with innovative minds, a business-friendly environment, a legal system with strong IP protection and the huge number of venture capitalists. It is the opportunities that matter, not the cost. And that is exactly why we choose Hong Kong,” he concluded.

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, welcomed Crossark’s relocation to Hong Kong. He said, “We are delighted to see another innovative technology company make Hong Kong its home. The company's expertise in software development and Simon Chan’s experience of the Silicon Valley ‘can-do’ culture will enrich our cluster of IT industries. Hong Kong has created one of the best environments in the world for IT companies to grow and the Government is determined to maintain and further enhance our competitiveness. We hope that Crossark will serve as another role model to attract and encourage more IT innovation companies from the Silicon Valley and other markets to Hong Kong.”

Founded by several entrepreneurs in Silicon Valley, California in 2001, Crossark is a software development house, with major clients from New York and California. It provides various IT software solutions that help customers improve cost effectiveness, operation efficiency, business process streamlining and enhance the quality of customer services. For more information, please visit the website at www.crossark.com.

February 3, 2006
Government Press Release
Registered new companies up 11.9%

Last year saw 73,359 new local companies incorporated, up 11.9% on 2004, the Companies Registry says. However, the number of new overseas companies that had established business here and registered fell 15.65%, to 620.

The total number of live companies and overseas companies registered was 549,232 and 7,488, up 30,252 and 209 from the end of 2004.

Meanwhile, the registry has expanded its prosecution programme by increasing the number of summonses issued since July last year.

Summonses issued doubled

The total number of summonses issued last year against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns, was 3,462, compared with 1,474 in 2004.

The year also saw 1,467 convictions and 541 cases remain to be heard by courts, compared with 676 and 370 in 2004. The total amount of fines imposed for convictions last year was about $9.6 million, compared with some $5.7 million in 2004.

The number of charges on companies' assets received last year rose 10.17%, to 33,470. The number of satisfactions and releases received also rose 23.57%, to 26,945.

During the year, a total of 269 prospectuses, including 96 mutual funds, were registered, compared with 334 prospectuses, including 174 mutual funds, in 2004.

The total number of documents received for filing grew 0.92%, to 1.65 million. From January 1 to February 27 last year, a total of 225,919 public searches on records in microfiche and paper files were made.

2.19m electronic searches recorded

About 2.19 million public searches on document image records were made between February 28 and December 31 last year through the registry's electronic search services.

Regarding the use of the computerised database in 2005, the number of searches on the computerised index of directors went down 12.54%, to 133,996. The number of company particulars reports issued rose 12.93%, to 107,872.

Hong Kong is indeed a true Global Cosmopolitan city !

Wonderful !

Enhancing Hong Kong's role as bridge between Mainland and the world
Monday, March 6, 2006
Government Press Release

Hong Kong should take advantage of its geographical position and enhance its role as a bridge between the Mainland and the world in order to maximise its strengths and edge, the Acting Chief Executive, Mr Rafael Hui, said this morning (March 6).

Mr Hui was speaking at an Economic Symposium analysing how best Hong Kong should utilise its unique geographical proximity in developing regional co-operation with the Mainland.

Mr Hui pointed out three ways Hong Kong could strengthen its connections with the Mainland and engage itself globally. First was to encourage Mainland enterprises to use Hong Kong as their base to explore international markets; second, to provide various services to support regional commercial co-operation; and third, to help Mainland enterprises on venture capital by making use of Hong Kong's position as an international financial centre.

Mr Hui said one of the key priorities of the Government's work was to attract overseas and mainland enterprises to invest in Hong Kong. "With our world-class international business environment and other supporting facilities, Hong Kong has become a popular investment destination for various Mainland enterprises," he said.

"In recent years, Hong Kong has been a springboard for Mainland enterprises to expand their business into the global market. To further promote economic integration between Hong Kong and the Mainland, we must introduce Hong Kong's diversified services into the Mainland."

Mr Hui also said the Government had been promoting Hong Kong's service industry on the Mainland through the Closer Economic Partnership Arrangement (CEPA). The Mainland had given Hong Kong preferential access to the Mainland market to 27 major service industries such as banking, logistics, legal service, accounting and telecommunications. The Government also continued to encourage professionals from both sides to foster the reciprocal recognition of professional qualifications.

He pointed out that under CEPA, it would be easier for Hong Kong enterprises to enter the Mainland market. "The cost of production is relatively high in Hong Kong, which lowers our competitiveness on prices. To stand out, we must increase our competitiveness on quality. We must develop value-added products and services with innovative technology, high-value added content and substantial intellectual property input," Mr Hui said. In this aspect, the Government would continue to nurture scientific and design talent.

Commenting on how Hong Kong was making use of its international financial status to help Mainland corporation finance, Mr Hui said Hong Kong enjoyed a flexible and stable financial system, as well as a regulation system of international standard. Financing service was one of the strengths that could help facilitate the growth of the Mainland economy. Currently, about 70 of the 100 largest banks in the world have set up offices in Hong Kong.

Mr Hui said that up to the end of 2005, 335 Mainland corporations had been listed in Hong Kong and had raised more than $1,000 billion since 1993. He expected that more and more capital from the Mainland would be transferred overseas for investment as the Mainland allowed its money - including insurance companies and China National Social Security Fund - to invest overseas. More opportunities were anticipated for Hong Kong to co-operate with the Mainland with financial services.

Mr Hui emphasised that Hong Kong should not forget its competitive edge to engage the world if it wanted to be the bridge between the Mainland and the world. "It is essential to actively consolidate Hong Kong's role as an international commerce, information, finance and services centre when advancing trade co-operation with the Mainland." He said that in order to be that bridge, the SAR Government would continue to strengthen Hong Kong's position as the freest economy for business and the best market for the Mainland and overseas investors.

Global relocation company uses Hong Kong to tap robust Asia Pacific market
Government Press Release
Tuesday, March 7, 2006

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Weichert Relocation Resources Inc (WRRI), one of the world's leading full-service relocation and assignment management firms, announced today (March 7) the establishment of its first Asian office in Hong Kong. The new Hong Kong office will serve as the Asia Pacific hub for the company's tri-regional service delivery system.

WRRI offers a wide range of global workforce mobility solutions in Hong Kong. These include a variety of services relating to relocation, international assignment, real estate management, visas and immigration, finance, payroll and taxes, household goods and group move management and consulting.

"Our Hong Kong office represents another important step in the development of our global tri-region service delivery system," said Mr Aram Minnetian, President and CEO of WRRI.

He explained, "Asia Pacific is one of the world's most robust markets. Our Hong Kong office enables us to deliver a wide range of customised solutions to corporations doing business in this region, and helps our clients take advantage of the unlimited business opportunities that exist here. We have deployed mobility professionals and subject matter experts in the Americas, EMEA and Asia Pacific regions, who provide service to clients and customers anywhere in the world."

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Mark Michelson, also officiated at the grand opening of WRRI Hong Kong office.

He said, "We warmly welcome Weichert Relocation Resources to Hong Kong. The continued strong growth and expansion of regional operations in our city have brought in business opportunities for services providers such as relocation services companies."

"Companies like WRRI do not only create jobs for Hong Kong, but also bring in their experience and expertise in innovative services, extensive global resources, professional capabilities and integrated technologies, which will strengthen our overall offering as a business location. They help make the relocation of expatriate staff to Asia Pacific smoother -- allowing new investors to start business operations as quickly and efficiently as possible," said Mr Michelson.

Founded in 1969, the New Jersey-headquartered company delivers services in over 120 countries. WRRI has offices throughout the Americas, Asia Pacific and EMEA regions. For more information, please visit the website at www.wrri.com.

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.

SAR hits top in Greater China ranks
Hong Kong Standard
Mark Lee
Tuesday, March 21, 2006

Hong Kong's status as China's pre- eminent business center has been reinforced by a study in which the SAR was ranked the country's most competitive city, ahead of second-placed Taipei.

Shanghai, in third place, is the highest-ranked mainland city, and is followed by Beijing, according to the annual "Competitiveness Blueprint" compiled by the Chinese Academy of Social Sciences.

This year's study was the first to include cities in Hong Kong, Macau and Taiwan in addition to mainland cities.

"Although mainland cities such as Shanghai and Beijing are maintaining a rapid pace of development, it will be some time before they can overtake Hong Kong," said the academy, which considered such factors as the quality of human resources and companies, as well as regulatory environment.

"Hong Kong's pro-business environment and rule of law are factors which mainland cities will find difficult to replicate in the short term," said Ruby Zhu, China economist at the Hong Kong General Chamber of Commerce. "However, rising rents and wage levels in Hong Kong in the past year will hurt the city's competitiveness," she said.

Regionally, the Hong Kong-Macau- Taiwan region is the most competitive in the country, the study found, followed by the eastern coastal region. The western region is least competitive.

The study further divides the eastern coastal region into smaller subsets, and ranks the Yangtze River Delta area higher than the Pearl River Delta area.

"Cities in both the Yangtze River Delta and the Pearl River Delta areas lost competitiveness in the past year due to macroeconomic control policies by the government, as well as steep rises in property prices," the study said.

"The policies affect overheated sectors such as steel and cement manufacturing industries, which are mainly focused in smaller cities," Zhu said. "Larger cities such as Beijing and Shanghai are relatively little impacted, and are in fact gaining competitiveness because of a drive to develop the service sectors."

In the "Global Competitiveness Report" by the World Economic Forum last year, Hong Kong fell seven places to rank 28 out of 117 countries due to concerns about "a deterioration in the quality of the institutional environment" in the city.

"Hong Kong saw a weakening in perceived judicial independence, the protection of property rights, and in government favoritism in policy- making," the report said. Taiwan, by contrast, was ranked more than 20 places higher in fifth place.

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what's the English word for the name of the 6th column from the right? (right after "efficiency")

what's the English word for the name of the 6th column from the right? (right after "efficiency")

Benefit... as in cost benefit

Rich cities no threat to HK, says official
29 March 2006
South China Morning Post

Booming mainland cities such as Shanghai and Guangzhou will benefit Hong Kong rather than marginalise it, says a central government planning official.

Xu Lin , vice-director of the Department of Development Planning under the National Development and Reform Commission, said while it was good for Hong Kong people to raise concerns about their future, they really had nothing to fear.

"Your wealthy neighbours will benefit you. If major cities in the mainland become stronger, they will give help to Hong Kong instead of posing a threat to it," he said.

Chief Secretary Rafael Hui Si-yan and Joseph Yam Chi-kwong, chief executive of the Monetary Authority, have both voiced fears recently that Hong Kong could become marginalised by rapid mainland development.

Mr Xu said the central government had taken into account the Basic Law and "one country, two systems" principle in incorporating Hong Kong into the 11th Five-Year Programme, a blueprint on national development.

He said Beijing would not be biased against any side in deliberating on infrastructure projects such as the Hong Kong-Macau-Zhuhai bridge.

"It is not an easy job because we have to co-ordinate the three parties. But we will not be biased against any party."

Mr Xu was speaking after a gathering with about 300 teenagers organised by the Hong Kong Federation of Youth Groups during which he explained the 11th Five-Year Programme.

Federation deputy executive director Paul Chan Kam-cheung said the session had provided a good lesson for teenagers.

Leading triathlon brand Orca establishes Hong Kong base
Thursday, 30 March, 2006
Government Press Release

A leading specialist in triathlon wetsuits and sports apparel is ready to take its international business to the next level from Hong Kong.

Orca, the manufacturer of the world’s fastest wetsuits and apparel is determined to spearhead its supply chain management by using Hong Kong as its base for global business development.

In October 2005, the company relocated its New Zealand head office to Hong Kong in order to effectively monitor production and stay close to its manufacturers in Asia. Since last November, Orca head office in Hong Kong has become the cost &　profit centre for the group. The company will retain an office in New Zealand to handle sales and logistics activities, as well as a sales office in the UK.

Explaining the company’s strategy, CEO and Founder of Orca, Mr Scott Unsworth, said, “A gateway to China, Hong Kong is a global logistics hub supported by leading financial services which will enhance Orca’s growth.”

“In addition, the city’s skilled and experienced labour force in the garment industry will assist the company in sourcing and exploring further business opportunities. Our company currently employs 10 local Hong Kong staff with extensive backgrounds in all areas of garment design and manufacturing.”

“Orca’s products are worn by many of the World’s leading athletes. The company sponsors several international teams including the New Zealand Team at the Athens Olympics in 2004 and most recently triathlon and cycling teams at the 2006 Commonwealth Games in Melbourne.

Our plan is to make Orca a global brand, and being in Hong Kong allows Orca to be strategically placed to achieve this objective.”

“Hong Kong is a key market with the presence of many industry players. The city not only offers healthy competition, but also provides important opportunities for us to stay close to the market development, allowing us to respond quickly to needs and demands,” he said.

The advantages of being in Hong Kong enable Orca to expand into other product lines. Mr Unsworth added, “Orca’s diversifying strategy will strengthen the company’s base and its worldwide distribution network, and enhance our revenue streams. The critical commitment is to research, design and build products that take centre stage in every sports category. Our team in Hong Kong is the key for these activities.”

The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, welcomed Orca’s strong vote of confidence in Hong Kong. He said, “Our experienced professionals, industry knowledge, and strategic location at the heart of Asia and at the doorstep of Mainland China enable apparel companies to stay competitive in the market. We are delighted by Orca’s long-term commitment to use Hong Kong as a base to grow their brand globally. This is a strong endorsement for Hong Kong’s position as a leading hub for apparel design and sourcing. We look forward to the continued expansion of this Hong Kong-headquartered company.”

Mr Unsworth, a former New Zealand youth triathlon champion, started Orca in 1995 by selling wetsuits from the boot of his car. Since then, the company has expanded its range of products under the Orca brand to running, swimming, cycling, and training apparel and sports accessories. Orca has received a number of awards, including a Best Business Brand in New Zealand. For more information, please visit the website at www.orca.com.

Reshuffle on cards as InvestHK eyes more offices
Hong Kong Standard
Andrea Chiu
Wednesday, April 19, 2006

To strengthen Hong Kong's position as an economic springboard in and out of the mainland, InvestHK will open two new economic and trade offices in China by the end of the year, the government said.

However, the opening of offices in Shanghai and Chengdu will cause some reshuffling inside the government agency which promotes foreign investment in the territory, according to investment promotion director-general Mike Rowse.

InvestHK's East China team will be subjected to review as the new Shanghai office will take over most of its duties. In addition, the two offices will each set up an Investment Promotion Unit, Rowse told a Legco commerce and industry panel Tuesday.

Rowse said the SAR has already joined forces with mainland cities and provinces to promote China abroad.

Hong Kong and Guangdong held seminars in Vancouver and San Francisco in October. In November, Hong Kong and Shanghai joined hands to offer an audience in Tokyo an insight into investment opportunities there, Rowse said.

But he admitted that the mainland city was also a fierce competitor for the SAR. "Hong Kong is already attractive, especially in certain sectors. But there is keen competition," Rowse said.

"Sometimes we go head-to-head with Shanghai. Sometimes we go head- to-head with Singapore - in some cases, we go head-to-head with both."

That said, Rowse emphasized the positive relationship that Hong Kong and the mainland could have. "We do sell Hong Kong to mainland companies as a springboard out, as we sell Hong Kong [to foreign companies] as a springboard into the mainland."

But pro-Beijing legislative councillor Wong Ting-kwong said many mainland business people had problems getting visas to enter Hong Kong.

"The SAR should try to persuade the [central] government," Wong said.

Republic of Tunisia confirms visa-free access for HKSAR passport holders
Government Press Release
Saturday, April 29, 2006

The Republic of Tunisia has agreed to grant visa-free access to Hong Kong Special Administrative Region (HKSAR) passport holders for a stay of up to three months.

The arrangement provides visa-free access to HKSAR passport holders visiting the Republic of Tunisia for up to three months with immediate effect.

"We warmly welcome the confirmation by the Honorary Consulate of the Republic of Tunisia in Hong Kong," a Hong Kong Government spokesman said. "The arrangement means greater convenience for HKSAR passport holders and helps promote trade, business and tourism links between Hong Kong and the Republic of Tunisia."

The availability of visa-free access to the Republic of Tunisia has brought the total number of countries/territories agreeing to grant visa-free access or visa-on-arrival to HKSAR passport holders to 136.

Currently, nationals of Tunisia may visit Hong Kong visa-free for a stay up to 30 days.