Overseas Trade Services
INVESTMENT IN HONG KONG
7
Hong Kong takes the largest proportion of British investment in Asia. There are over 900 British companies which have offices in Hong Kong. UK statistics record a net stock of over £1.7 billion of direct investment. (Local business estimates the total net assets of UK companies controlled from Britain as at least £6 billion and the total gross stock market value of the leading British owned, controlled or managed companies at over £50 billion). Jardines, one of Britain's largest commercial stakes in Hong Kong is Cable and Wireless' ownership of the Hong Kong Telephone Co which hold monopolies for domestic calls until 1995 and for international calls until 2006.
After
8 Foreign investment in Hong Kong's manufacturing industries is not substantial but rose by 11% to HK$ 34.4 billion in 1991. Japan remained the leading investor accounting for 31.9% followed by the USA (28.6%), then China (10.9%), Australia (6.1%) and the UK (5.5%). British investments are concentrated in the electrical products, tobacco, textiles and clothing, chemical products and electronics industries.
9 Most city firms and service sector companies have their regional headquarters in Hong Kong. By contrast large UK companies like BT, ICI and BP have their own regional headquarters offices in Singapore. Outside the services sector most prominent examples in Hong Kong include Cable & Wireless, Marks and Spencer and Alfred Dunhill.
UK RETAILERS
10
In the last few years UK retailers have been establishing themselves in Hong Kong in increasing numbers. Marks and Spencer opened their fifth store in October 1992, and have plans for further stores in 1993. Alfred Dunhill have four stores and many others like Body Shop, Royal Doulton, Church, Jaeger, Paul Smith, Jasper Conran, Aquascutum, Daks and Burberry's all have their own outlets either through franchising/licensing or joint venture arrangements, and are continuing to flourish and in some cases adding to the number of outlets in the territory. However the UK does not have as high a profile in high quality modern fashion goods as France and Italy whose major designers are well represented by retail outlets. A branch of Harry Ramsden's fish and chip restaurant, opened in Hong Kong last Summer and Harvey Nichols (now owned by Dickson Poon) opened an outlet last Autumn.
LT43.39
dti
the department for Enterprise
Ancytina Papar
1990-783
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