XN000022-1993-05-07 — Page 8

1

MAY

1993

UNPARALLELED BUSINESS OPPORTUNITIES FOR OVERSEAS INVESTORS

+

CHINA MEANS THE ENORMOUS BUSINESS POTENTIAL IN HONG KONG AND UNPARALLELED OPPORTUNITIES FOR OVERSEAS INVESTORS AND BUSINESSMEN, THE SECRETARY FOR TRADE AND INDUSTRY. MR T H CHAU, SAID TODAY (FRIDAY).

CANADIAN CHAMBER

THE AT SPEAKING

A LUNCHEON HOSTED BY COMMERCE IN HONG KONG, MR CHAU SAID CANADA WAS WELL PLACED THESE OPPORTUNITIES,

OF

TO SEIZE

"THE PEOPLE OF HONG KONG AND THE PROPLE OF CANADA HAVE BUILT UP SET UP CLOSE TIES WITH ONE ANOTHER. MOST PROVINCES OF CANADA HAVE

HE SAID. REPRESENTATIVE OFFICES HERE,

If

TOTAL TRADE BFTWEEN HONG KONG AND CANADA GREW AT AN AVERAGE 15 PER CENT PER ANNUM OVER THE PAST FIVE YEARS.

OF

JUMPED RE-EXPORTS TO CANADA, MOST OF WHICH WERE CHINA-RELATED,

PERIOD. CANADIAN BY AN ASTOUNDING RATE OF 35 PER CENT IN THE SAME EXPORTS TO CHINA VIA HONG KONG ALSO REGISTERED A HEALTHY GROWTH OF 13 PRR CENT IN 1992.

"THERE

OF THE THREE PER

HOWEVER, STILL ROOM FOR FURTHER EXPANSION. 760 REGIONAL OFFICES ESTABLISHED IN HONG KONG, LESS THAN CENT ARE CANADIAN. THE SHARE OF CANADIAN PIRMS IN THE HEADQUARTERS I

IN HONG KONG IS PAPN SMALLER, ONLY 1.7 PER CENT

SAID.

600 REGIONAL

H

*

MR CHAU

EQUIPPED AS THE MR CHAU NOTED THAT HONG KONG WAS EMINENTLY CONDUIT TO CHINA AND TIK URGED CANADIAN BUSINESSMEN INTERESTED IN CHINA TO CAPITALISK ON HONG KONG'S UNIQUE POSITION.

"THE

BE

INCLUDING FOR VARIED, CAN CO-OPERATION FORMS OF

CHINA OPERATIONS AND EXAMPLE, DSING THE TERRITORY AS THE BASE FOR

MR TEAMING UP WITH HONG KONG BUSINESSMEN FOR JOINT VENTURES IN CHINA, CHAU SAID.

T

LINKS WITH CHINA, MR CHAU NOTED TURNING TO HONG KONG'S ECONOMIC

TRADING THAT CURRENTLY HONG KONG AND CHINA WERE EACH OTHER'S LARGEST PARTNER.

ALMOST 40 PER CENT OF CHINA'S TOTAL TRADE WAS HONG KONG-RELATED

ONE-THIRD 0% HONG KONG'S AND MORE THAN

TRADE WAS CHINA-RELATED,

MR CHAU SAID.

RE-EXPORTS MAKE UP MOST OF THE TRADE BETWEEN THE WITH ABOUT 45 PER CENT OF CHINA'S TRADE WITH THE REST OF BEING HANDLED BY HONG KONG.

TWO PLACES,

THE WORLD

"RONG KONG IS, HOWEVER, MORE THAN JUST AN ENTREPOT TO MR CHAU SAID.

"TODAY, BONG KONG ACCOUNTS FOR TWO-THIRDS OF INVESTMENTS IN CHINA.

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CHINA,

TOTAL OVERSEAS

"OF ALL