Hong Kong at night
trade ¡ª a free and liberal investment regime, the absence of trade
barriers, no discrimination against overseas investors,
freedom of capital movement, a well established rule of law, transparent
regulations, and low and predictable taxation.
Hong Kong has a small and efficient government structure. Corporate
and personal taxes are quite low and simple to calculate.
The HKSAR Government is wellknown for its efficiency, transparency
and fairness. It is ready to lend a helping hand to business people
and companies under a long-established philosophy of ¡°maximum help
and minimum interference¡±
for business. The objective of Hong Kong¡¯s monetary policy is to
maintain currency stability. Given the highly externally oriented
nature of the economy, this objective is further defined as a stable
external value for the Hong Kong dollar in terms of a linked exchange
rate against the US dollar at the rate of HK$7.80 to US$1.
This objective is achieved through the linked exchange rate system
introduced in October 1983.
Hong Kong has a well established and trusted legal system ased on
The rights and freedoms of Hong Kong people and those living there
are founded upon the impartial rule of law, an independent judiciary,
a comprehensive system of legal aid, and a free and active press.
In 2001, Hong Kong handled 17.8 million TEUs (20-foot equivalent
units) of containers, making it the world¡¯s busiest container port.
|Hong Kong, described as a ¡°barren rock¡± over 150 years
ago, has become a world-class financial, trading and business centre
and, indeed, a great metropolis.
It became a Special Administrative Region (SAR) of the People¡¯s Republic
of China on July 1, 1997, after a century
and a half of British administration.
The SAR enjoys a high degree of autonomy except in defence and foreign
Hong Kong is the world¡¯s ninth largest trading economy, one of the
world¡¯s four largest gold markets, the world¡¯s
seventh largest foreign exchange market, the world¡¯s 11th largest
banking centre and Asia¡¯s third biggest stock
It is one of the world¡¯s top exporters of garments, watches and clocks,
toys, games, electronic products and certain light industrial products.
Hong Kong is the world¡¯s ninth largest exporter of services, second
only to Japan in Asia. Civil aviation, shipping, travel and tourism,
trade-related services, and
various financial and banking services are the main components of
its trade in services. The prices of many services are among the lowest
in the world. More than 3,200 international corporations have established
headquarters or offices in Hong Kong.
The major types of business carried out by the regional headquarters
wholesale and retail, and import and export trades, in addition to
other business services such as accounting,
advertising and legal services, finance and banking, manufacturing
and transport and related services.
Hong Kong advocates and has free
The Hong Kong Government will hold a series of promotional activities
during the four-day investment and trade fair to promote and further
strengthen the investment environment
of the Special Administrative Region (SAR).
The HKSAR¡¯s Chief Executive, Tung Chee-hwa, will attend tomorrow¡¯s
opening of the China International Fair for Investment and Trade (CIFIT)
and deliver a speech at the ¡°International Investment Forum.¡±
The SAR¡¯s Acting Financial Secretary Frederick Ma will deliver a keynote
speech at a dinner being hosted by the Hong Kong Government tomorrow
night. He will also officiate
during a seminar looking at the mainland and Hong Kong Closer Economic
Partnership Arrangement (CEPA) on Tuesday. Invest Hong Kong and the
Trade Development Council (TDC) will jointly set up the Hong Kong
Pavilion at Xiamen¡¯s International Conference and
Exhibition Centre to showcase the investment environment in Hong Kong,
and to promote the region as the ideal gateway for both overseas companies
vying for the mainland market and
mainland firms seeking to expand their presence overseas.
The pavilion will comprise of 12 exhibition
booths, featuring the advantages enjoyed by Hong Kong and the trade
services provided by Invest Hong Kong and TDC.
The Commerce, Industry and Technology Bureau and the Department of
Taiwan, Hong Kong and Macao Affairs of the Ministry of Commerce (MOFCOM)
will jointly hold a large seminar on Tuesday to promote the CEPA to
Invest Hong Kong and MOFCOM¡¯s Department of Foreign Economic Cooperation
will also hold a seminar to introduce Hong Kong¡¯s information technology
and technology industry.
Other Hong Kong government officials attending CIFIT include Raymond
Young, deputy secretary for Commerce, Industry and Technology, Mike
Rowse, director general of Investment Promotions, and Cyberport Co-ordinator
Hong Kong Airport
The 7th China International
Fair for Investment and Trade Schedule
(Hong Kong Special Administrative Region)
Time: 9:08 am
Activities: The Opening Ceremony of The Seventh China International
Fair for Investment and Trade, Hong Kong Hall exhibitions at the
Xiamen International Exhibition Centre, Booth Numbers: C065-C070
Time: 10:00 am
Activity: International Investment Conference
Time: 7:15 pm (Undecided)
Activity: Hong Kong Reception Dinner sponsored by the Hong Kong
Special Administrative Region Government
Time: 8:30 am
Activity: Hong Kong Day: "Closer Economic Partnership Arrangement
Conference" Organizers: The Taiwan, Hong Kong and Macao Affairs
Office under the Ministry of Commerce and the Commerce,
Industry and Technology Bureau of the HKSAR
Time: 9:00 am
Activity: "Hong Kong Scientific and Information Technologies
Organizers: Invest Hong Kong, the Co-operation Department of Ministry
of Commerce and the Trade Office of the Economic Department under
the Liaison Office of the Central Government in Hong Kong