Posted in: Press Releases
April 13, 2017
The Director of the Hong Kong Economic and Trade Office (Toronto) (HKETO), Miss Kathy Chan, today (April 13) delivered opening remarks at the second seminar of the Hong Kong Special Administrative Region 20th Anniversary Seminar Series, organised by the Richard Charles Lee Canada-Hong Kong Library throughout 2017 to celebrate the 20th anniversary of the establishment of the HKSAR. The first seminar on poetry relating to Hong Kong Canada interrelations was held in January.
This second seminar focused on the economic development of Hong Kong and comprised two panels, namely “Development in Hong Kong’s Post-1997 Capitalism” and “Trends in Chinese Canadian Businesses”. Miss Chan shared with the audience the achievement of Hong Kong’s economic development in the past 20 years. “For the past 20 years, Hong Kong has continued to thrive as an international financial and business hub. The real GDP has achieved a cumulative growth of more than 82%. The number of regional headquarters and offices set up by overseas and Mainland Chinese corporations in Hong Kong has increased by about 50%,” she said.
At the same time, Hong Kong has continued to be a free and open economy, as evidenced by the rating of Hong Kong as the freest economy in the world by US Heritage Foundation for 23 successive years and at the top of Canada Fraser Institute’s index of world economic freedom.
Miss Chan added that economic interactions between Hong Kong and Mainland China had also increased considerably since reunification under the “One Country, Two Systems” Arrangement. The Closer Economic Partnership Arrangement (CEPA) signed between Hong Kong and Mainland China in 2003 is one of the driving forces.
“CEPA has provided preferential market access to Hong Kong service suppliers in a significantly wide range of sectors on Mainland China. And goods of Hong Kong origin can enjoy tariff-free treatment when being exported to Mainland China. This has created many opportunities for Hong Kong businesses,” Miss Chan said.
In summing up, Miss Chan remarked that Hong Kong and Mainland China would both continue to benefit from the increasingly closer economic cooperation.
The Director of the Hong Kong Economic and Trade Office (Toronto) (HKETO), Miss Kathy Chan, delivers opening remarks today (April 13) at a seminar on Hong Kong’s economic development organised by the Richard Charles Lee Canada-Hong Kong Library to celebrate the 20th anniversary of the establishment of the Hong Kong Special Administrative Region.
HKETO Director Kathy Chan (second right), photos with Dr Li Kui-wai, Visiting Professor of the Asian Institute , University of Toronto (first left), Dr Jack Leong, Director, Richard Charles Lee Canada-Hong Kong Library, University of Toronto (second left), and Dr Louis Pauly, Chair, Department of Political Science, University of Toronto (first right), at the seminar.
Chinese version on next page.
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