A Better Hong Kong Foundation delegation has just returned from a visit to Canada and the United States where they met with government officials, congressmen, policy advisors and business leaders to discuss Hong Kong issues. The topics discussed focused on technology, financial trends and the economic outlook of Hong Kong in the face of China’s imminent accession to the World Trade Organization. The Better Hong Kong Foundation organizes two to three delegations of this nature to North America each year to promote Hong Kong as an international business center.
The mission led by The Honourable Nellie Fong, Executive Councillor of the HKSAR and Chairman of the Foundation’s Executive Committee visited Toronto, Canada and Washington, D.C., Northern Virginia’s Dulles Corridor, Silicon Valley and San Francisco in the U.S. from January 27 to February 5, 2000. The delegation with an agenda to examine advanced technology included prominent Hong Kong industrialists, technology CEOs and leading members of the financial and legal community. The delegation members included Mr. Anthony Au, Dr. Cheng Wen Cheng, Mr. Raymond Chu, Mr. Daniel Fung, Dr. Frederick Hu, Mr. Laurence Li, Mr. Liu Mingkang, Mr. Peter Lo, Mr. W.H. Ng, Mr. Andrew Sheng, Mr. Lawrence Tan, Mr. Thomas Tang, Mr. Ben Wong, Mr. George Yuen and Mr. Alvin Lee. (A full list of delegation members with their titles and affiliations)
In the U.S., the delegation met with members of Congress, leading think tanks such as the CATO Institute and the American Enterprise Institute, government officials in the Clinton administration, the Chairman and CEO of NASD, influential technology councils and business associations.
In Washington, D.C., the delegation held meetings with high technology firms such as AOL, EDS, ManTech International Corp, Motley Fool and Network Solutions; established alliances with The Northern Virginia Technology Council, The Information Technology Industry Council, The Greater Washington Initiative and The Coalition of Employment through Exports; and, venture capital firms such as Venturehouse and FBR Venture Capital Partners. High tech and venture capitalist firms on the delegation’s Silicon Valley and San Francisco itinerary included Cisco Systems, Intel, Oracle, Solectron, Goldman Sachs, H & Q Asia Pacific, National Semiconductors and Materials Association, National California Venture Capital Association and Semiconductor Equipment and Materials International, Pentagon Inc, China Vest, W.I. Harper and World Affairs Council.
The delegation attended dinners hosted by Ambassador Mickey Kantor, former U.S. Secretary of Commerce and Ms. Jackie Willis, Hong Kong’s U.S. Commissioner in Washington, D.C. In San Francisco, Forbes publisher, the Vice Mayor of San Jose, Stanford University, HongKong-SV.com and Hong Kong Economic & Trade Office organized receptions and dinners in honor of the Foundation and delegation through events that offered excellent occasions for exchange and networking.
Earlier in Toronto, some members of the delegation held useful discussions with government leaders, Ontario Exports, Hong Kong Canada Business Association, Canadian Bankers Association and international corporations such as Nortel Networks, Descartes, Sybase Canada, HSBC Canada and Citibank. They also visited The University of Toronto where they met with Neteka, a hi-tech offshoot and the Centre for International Studies. A meeting was also held with the Law Deans from the University of Toronto and Osgoode Law School of York University.
Mrs. Nellie Fong was pleased to report views from the congressmen and opinion leaders in the U.S. that they were confident in Hong Kong, especially the initiatives introduced by Chief Executive, Mr. C.H. Tung on innovation and technology and Hong Kong people’s ability to adapt to this change. The U.S. interlocutors were satisfied with the practice of the one country, two systems principle and its rule of law in Hong Kong. They were much encouraged to note Hong Kong was back on the road to recovery together with its continued ranking of the freest economy in the world for six consecutive years by the Heritage Foundation and with further endorsement by CATO Institute of the U.S. and Fraser Institute of Canada. They recognized Hong Kong’s position and the likely impact on its economy after China’s accession to the WTO and briefed the delegation on the congressional assessment of various scenarios in relation to granting Permanent Normal Trading Relations status to China.
Further commenting on the visit, Mrs. Fong said, “In the past year, Hong Kong has been instrumental in furthering the Internet revolution in Asia as well as contributing to the tremendous growth in China’s markets. We cannot afford to be complacent if Hong Kong wants to rank itself in the innovation and technology league. This was a learning mission for us to realize the breadth and depth of the advanced technology and its impact on American business. This trip reaffirmed the importance of education to the quality of professionals needed to meet the growing demand in the technology sector and the necessity of a human resource strategy to address the quality of life and the living environment issues crucial to attracting the right talent and their families to Hong Kong.”
“The delegation also recognized an urgent need of having specialized venture capital funds and financial analysts in the technology and innovation field in Hong Kong as such expertise is necessary for innovative business and startups to germinate. There is a shortage of this kind of financial professional. It is therefore essential to formulate plans for attracting such specialists to come to Hong Kong. We should also be proactive in marketing incubator projects in Silicon Valley in order to attract investment to Hong Kong. Development offices from Korea, Scotland and Taiwan have been established in Silicon Valley to woo such business partners.” Mrs. Fong further stressed.
“The Foundation organizes missions in line with the vision of Chief Executive Tung’s 1998 Policy Address to promote Hong Kong as a center of high technology and to capitalize on its strategic proximity to what is perhaps the biggest economy in the 21st century. This visit to the U.S and Canada is an excellent opportunity to bring the excitement of Hong Kong to our friends on the other side of the globe and to update them on key developments taking place in Hong Kong. More importantly, this is a networking mission allowing the Foundation to continue exchanges and further cooperation between Hong Kong, Canada and the U.S. We will continue these visits in the future. We hope that large companies and SMEs would benefit from these increased activities and both government agencies and NGOs would respond with equal enthusiasm and vigor” remarked Mr. George Yuen, the Foundation’s Chief Executive.
“The Better Hong Kong Foundation is delighted to once again promote exchanges between business and political leaders from Hong Kong and North America,” added Mr. Yuen, “We believe that these regular exchanges will be crucial for maintaining Hong Kong’s position as an international business center and will set a benchmark for us to assess our opportunities and challenges as Hong Kong emerges as another technology hub in Asia.”
For inquiries, please contact:
Alvin Lee
General Manager (Communications)
The Better Hong Kong Foundation
Tel: 852-2861-2622
Fax: 852-2861-3361
Email: Alvin_Lee@betterhongkong.org
The Better Hong Kong Foundation is a privately funded, non-profit, non-political organization, formed by leading Hong Kong business people to reinforce Hong Kong role as the leading regional financial, shipping, trading, communications and technology center. The Foundation also serves to enhance greater international understanding between East and West by facilitating communications between Hong Kong, China and the international community.