The bulk of the intra-economy trade and investment flowing among these three economies has focused on the Mainland Provinces of Guangdong and Fujian. Thus narrowly defined, the Triangle has a population of about 120
120 million and a GDP (Gross Domestic Product) of more than 140 billion Pounds Sterling. Hence, in terms of GDP,
GDP, it packs more economic punch than
than Indonesia, Thailand, Malaysia and the Philippines combined.
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with its open and dynamic economy Hong Kong
is the key link holding the
the Triangle together. Taiwan companies and entrepreneurs are investing heavily in Hong Kong. And it is usually through Hong Kong that investment from Taiwan as well as from the United States, Europe, Japan and Southeast Asia moves into Guangdong, Fujian and the rest of China. Hong Kong also serves as a conduit for investment in Taiwan, especially hi-tech and equity investment.
While Hong Kong is well-positioned to benefit from Greater China's continued economic growth and development, all the Territory's "eggs" are not in one "basket". Remember, the third key to success is location.
In addition to the vital roles it plays as China's premier entrepot and as the hub of the Greater China Economic Productivity Triangle, Hong Kong is also the focal point of a vast global business network.
At present, there are
are more than 60 million Chinese living outside China in Asia and around the world. In many markets, particularly in Southeast Asia, these individuals are the commercial "movers and shakers". They possess the will, the know- how and the financial muscle to get things done.
Hong Kong is often their first stepping stone to regional and global expansion. Over time, the bi-lateral relationships established between these individuals and Hong Kong have grown to form a vast, global entrepreneurial network.
My Bank's strategy has been to work through this network. We have branches in Singapore, New York, London and Los Angeles all of which have important Chinese populations. We will soon be opening a branch in Toronto and we have targeted Vancouver, Manchester and San Francisco for evaluation. We are also involved in trading joint ventures linking both Thailand and Malaysia to Hong Kong and China.
Smith New Court plc Conference