latest development of hong kong under the new term government
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Latest Development of Hong Kong Under the New Term GovernmentTRANSCRIPT
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Ms Erica NgDirector-General, Hong Kong Economic and Trade Office, London
Latest Development of Hong Kongunder the New-term Government
21 August 2013
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Basic FactsBasic FactsLocation: At the southern tip
of China
Population: 7.1 million
Size: 1,100 sq. km
Three quarters is countryside
Returned to China in 1997
“One Country Two Systems”
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Chief Executive of the Hong KongChief Executive of the Hong KongSpecial Administrative Region Special Administrative Region – Mr C Y – Mr C Y
LeungLeung
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Core Strengths of Hong KongCore Strengths of Hong Kongunder “One Country Two Systems”under “One Country Two Systems”
Rule of law –Common law jurisdiction
Simple and low taxes -Profits tax: 16.5%No VATNo capital gains tax
Level-playing field for all businesses
Separate immigration regime –No visa requirements for Swedish visitors
Freedom of speech
Clean government
Excellent connections with China and Asia
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Hong Kong’s AchievementsHong Kong’s Achievements
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Freest economy for 19 consecutive years
Third largest recipient of FDI in the world
GDP growth in 2012: 1.4%
GDP growth in first half of 2013: 3.1%
GDP growth forecast for 2013: 2.5% - 3.5%
Per capita GDP in 2012: USD 36,550
Unemployment rate in 2012: 3.3%
Major international financial, trading, business and logistics centre
Ideal gateway to enter China and Asia
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TradeTradeValue of Hong Kong’s
imports in 2012:USD 501 billion, or 1.9 times of Hong Kong’s GDP
Imports from Sweden in 2012:USD 479 million, mainly measuring and checking instruments, chemical products, and telecommunications equipment
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Closer Economic Partnership Arrangement Closer Economic Partnership Arrangement (CEPA) with Mainland China(CEPA) with Mainland China
Free trade agreement with Mainland China
Tariff-free access to Chinese market for Swedish companies established in Hong Kong
Entry to services sectors in Mainland China
New Hong Kong Economic and Trade Office in Wuhan
Financial ServicesFinancial Services
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Largest Renminbi offshore business centre –Over 90% of China’s RMB trade settlement handled by banks in Hong Kong
2nd largest asset management centre in Asia
6th largest stock exchange in the world, 2nd largest in Asia
70 out of top 100 global banks present in Hong Kong
International Maritime CentreInternational Maritime Centre
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International maritime centre
Leading hub port in East Asia
Third largest container port in the world (23 million TEUs in 2012)
Superb airport and efficient land boundary crossings and transport facilities
Environmental ProtectionEnvironmental Protection
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SEK 8.4 billion in subsidies to phase out more than 80,000 old, polluting diesel commercial vehicles in Hong Kong
SEK 420 million to build electrical and electronic recycling facilities as well as five community recycling centres
Organic waste treatment facility
Infrastructure ProjectsInfrastructure Projects
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Kai Tak Cruise Terminal
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West Kowloon Cultural District
Hong Kong – Zhuhai – Macao Bridge
SEK 59 billion each year on infrastructure projects in Hong Kong
West Kowloon Cultural DistrictWest Kowloon Cultural District
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Sweden and Hong KongSweden and Hong Kong
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Bilateral trade in 2012:SEK 9.6 billion
Swedish companies in Hong Kong: IKEA, H&M, Volvo, Scania, SEB, Electrolux etc
Stockholm’s underground train system run by a Hong Kong company, MTR
High-level visits between Hong Kong and Sweden
Sustainability Charter between Hong Kong and Malmö in 2011
Support from Hong KongSupport from Hong Kong
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Official representative: Hong Kong Economic and Trade Office, Londonwww.hketolondon.gov.hkMs Erica Ng, [email protected] Dennis Ching, [email protected]
Trade support, business matching:Hong Kong Trade Development Councilwww.hkdc.comMs Madelene Kornfehl, [email protected]
Setting up business in Hong Kong:Invest Hong Kongwww.investhk.gov.hkMr Mats Gerlam, [email protected]
Support from Hong KongSupport from Hong Kong
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For technology and start-up companies:Hong Kong Science and Technology Parkwww.hkstp.orgMr Björn Segerblom, [email protected]
For visitors:Hong Kong Tourism Boardwww.discoverhongkong.comMs Dawn Page, [email protected]
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Royal Sweden Hong Kong Business Councilwww.hongkong.seMr Björn Segerblom, [email protected]
Swedish Chamber of Commerce in Hong Kongwww.swedcham.com.hkMs Eva Karlberg, [email protected]
Support from Hong KongSupport from Hong Kong
Quality of Quality of LifeLife
Green Hong Green Hong KongKong
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Thank you and see you in Hong Thank you and see you in Hong Kong!Kong!
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Ms Erica NgDirector-General, Hong Kong Economic and Trade Office, London
Latest Development of Hong Kongunder the New-term Government
21 August 2013