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Hong Kong: Your first stop in Asia

Posted in: Press Releases

May 28, 2013


To encourage Canadian companies to make Hong Kong their “first stop” in Asia, the Director of the Hong Kong Economic and Trade Office, Miss Gloria Lo, today (Tuesday) cited the city’s unique advantages, including its strong role in IP (Intellectual Property) protection and trading, to a group of Vancouver business leaders.

Speaking at the “Hong Kong – your first stop in Asia” seminar jointly organized by the Richmond Chamber of Commerce and the Hong Kong-Canada Business Association in Vancouver, Miss Lo described Hong Kong as a regional hub for IP trading. “We are particularly strong in playing the role of IP Intermediary to connect IP creators and IP users,” she said.

Miss Lo said that Hong Kong has a good environment for IP business, with its sound legal system, robust IP regime, strong IP enforcement, as well as a large team of IP professionals and practitioners for providing a wide range of services.

Hong Kong is ranked 11th out of 144 economics in IP protection according to the 2012-13 Global Competitiveness Report by the World Economic Forum.

Apart from IP trading, Miss Lo said Hong Kong, as an international financial centre, has readily available sources of equity financing services for start-up companies, including those in ICT (Information and Communication Technology) businesses.  “Hong Kong also has rich experience as trade middleman and well positioned to tap the huge market in the Mainland,” she said.

Hong Kong has good knowledge about the Mainland markets of how a new technology and product may be modified or customized to suit local needs in Mainland China.  “This makes Hong Kong a popular place for overseas IP owners to export IP to the Mainland,” Miss Lo said. “For licensing and franchising businesses, Hong Kong is always the preferred first stop to test and venture into the Mainland market.”

Miss Lo highlighted that Hong Kong is an internet hub with robust ICT infrastructure and an IT savvy population.  Hong Kong’s broadband penetration, mobile phone and smart phone penetration are among the highest in the world.

“Hong Kong is a very good location for setting up data centres because of its robust telecommunication infrastructure, reliable power supply, effective protection of data privacy and information security,” she said. “We have established a dedicated unit to provide one-stop services to assist overseas and local companies in setting up data centres in Hong Kong.  A piece of land at Tseung Kwan O with an area of a hectare will be open for public tender next month for the development of a high-tier data centre. Interested parties in the overseas are welcome to submit their bids.”

Miss Lo also described Hong Kong’s film industry as a pillar of its creative industries.  Over the past decade, Hong Kong movies have won more than 300 international awards.

“Mainland China has become a fast growing market for the film industry and we see more and more co-production between Hong Kong and the Mainland.  Under CEPA (Mainland and Hong Kong Closer Economic Partnership Arrangement), Chinese-language motion pictures produced by companies established in Hong Kong may be imported into the Mainland on a quota-free basis,” said Miss Lo. 

Recently a Mainland-Hong Kong co-production “Finding Mr Right” has scored huge box office success in Mainland China. “Two of the co-producers are based in Vancouver and the film was shot mostly in Vancouver.  Its success may arouse the interests in co-production among Hong Kong, Mainland and Canada,” added Miss Lo.

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For media enquiries, please contact:

Stephen Siu, Assistant Director (Public Relations)
(O) 416-924-5425 (M) 416-456-8623
stephen_siu@hketotoronto.gov.hk

Hilda Chow, Public Relations Officer
(O) 416-924-7374 (M) 416-456-8293
hilda_chow@hketotoronto.gov.hk

 

From left to right, Craig Jones, Executive Director of Richmond Chamber of Commerce, Miss Gloria Lo, Director of the Hong Kong Economic & Trade Office in Toronto (HKETO), Barry Grabowski, Cohen Buchan Edwards LLP and Chair of the Richmond Chamber of Commerce, and Peter Kwok, Deputy Director of HKETO, at the 'Hong Kong: your first stop in Asia' luncheon held in Vancouver.

Chinese version on next page.

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