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Press Release

The Better Hong Kong Foundation Concludes Its Annual Delegation Visit to the United States in June 2013

2013.06.26

(26 June 2013, Hong Kong) The Better Hong Kong Foundation (“the Foundation”) completed its annual delegation visit to the United States from 10 to 13 June 2013. A press conference was held today to brief members of the local media about the principal issues dealt with during their stay in the U.S. Members of the delegation also shared their observations and experiences gained from the trip.

This year’s delegation was co-led by the Foundation’s Executive Committee Chairman Mr. Ronnie Chan, Chairman of Hang Lung Properties Ltd, and Council Member Dr. Roy Chung, Chairman of Federation of Hong Kong Industries and Co-founder & Non-Executive Director of Techtronic Industries Co Ltd. The Foundation’s Trustee Ms. Pansy Ho, Managing Director of Shun Tak Holdings Ltd also participated in our program in New York. Other delegates included Council Members Mr. Thomas Woo, Director of Hsin Kuang Restaurant (Holdings) Ltd; Ms. Winnie Ng, Director of the Kowloon Motor Bus Co Ltd; Mr. Joseph Yu, Chairman of Roseville Group of Companies; Ms. Diana Chou, Managing Director of Sino Private Aviation (HK) Ltd; Mr. Sebastian Man, Chairman & CEO of Chung Mei International Holdings Ltd; Ms. Juliana Lam, Managing Director of AML Group Holdings Ltd; Mr. John Lee, Managing Director of Bank of America Merrill Lynch and Mr. Anson Chan, Chairman & CEO, Bonds Group of Companies as well as Executive Director Ms. Karen Tang. The Foundation also invited Mr. Franklin Lam, Founder of HKGolden50 and Member of the Executive Council as the commentator on economic affairs of the delegation.

After introducing the delegates to the media, Ms. Karen Tang explained the main purpose of the delegation was to foster a better understanding of the political, economic and social developments in both the United States and Hong Kong. The delegation visited the Executive Branch (U.S. Department of State and U.S. Department of Commerce); members of the Legislative Branch (Congressmen); think tanks (The Brookings Institution, The Heritage Foundation, National Committee on U.S.-China Relations and the U.S.-Asia Institute); a financial institution (Morgan Stanley); a rating agency (Fitch Ratings); NGOs (Hong Kong Association of New York and Clinton Global Initiative) and a university (George Washington University). The delegation also visited the Hong Kong Economic and Trade Office (HKETO) in Washington DC. During the visit in New York, the delegation participated in "Think Asia Think Hong Kong" conference organized by the Hong Kong Trade and Development Council as well as its Hong Kong Dinner. The delegation was also invited to join the reception hosted by the HKETO New York in honor of the Chief Executive C Y Leung in celebration of its 30th anniversary of establishing its office in New York. After visited Washington DC, seven delegates continued to participate in "Think Asia Think Hong Kong" conference in Los Angeles. They were also invited to the luncheon hosted by the HKETO San Francisco and the opening ceremony and launch reception for "Hong Kong Live" hosted by the Hong Kong Tourism Board respectively.

The delegation was honored that the Embassy of the PRC in the U.S. (Ambassador Cui Tiankai) and the Consulate-General of the People’s Republic of China in New York (Ambassador Sun Guoxiang and Deputy Consul General Dong Xiaojun) hosted luncheons to welcome the delegation respectively. The delegation was also received by the Permanent Mission of the PRC to the UN (Ambassador Wang Min) in New York.

Mr. Ronnie Chan expressed his gratitude to Ambassador Cui Tiankai, Consul General to New York Sun Guoxiang and Deputy Permanent Representative to UN Wang Min for their hospitality to the delegation. Mr. Chan was glad to see that China has been more proactive in reaching out to the local community, from inside the Beltway to Wall Street, which is important in building better understanding and trust between China and the U.S. At meeting with the rating agency, Mr. Chan expressed his worry of another possible global economic crisis as the fundamental problems after the financial crisis have been lingering without much advancement. Mr. Chan also said "Coincide with the Foundation’s visit to the U.S., I am honoured to chair the opening discussion session for the Trade Development Council’s conference in both New York and Los Angeles – Think Asia, Think Hong Kong, which was very successful. The Chief Executive officiated the conference in New York. It was very well attended and the participants were very receptive to the competitive advantages of Hong Kong."  

Dr. Roy Chung was glad to learn that the think tanks generally were very positive in the Sino-US relations after the recent meeting between President Xi Jingpin and President Obama. They were optimistic in the reform and future developments in China, and conveyed that their policy towards Asia did not imply any containment to China. Dr. Chung also said "During our visit, one of the financial institutions has already warned that the economy is at the stage of post-crisis recovery cycle and that there will be tightening financial policy, hence the likely increase in interest rate. It is what we have been experiencing in the past one week." Dr. Chung continued that "Hong Kong was back to the radar screen of the U.S. and even on the front page of their newspapers as Mr. Edward Snowden was just revealed that he was in HK, on the first day that our delegation arrived." He said "It might help raise people’s interest towards Hong Kong as Hong Kong was highly regarded by Mr. Snowden as a place with freedom of expression and a place with an independent and reliable legal system."

Ms. Karen Tang thanked the Hong Kong Economic and Trade Office for their hard work in soliciting the support of the U.S. authorities in granting visa waiver status to Hong Kong passport holders. "We visited 4 congress representatives and expressed our wish of having the visa waiver status and the benefit to their tourism and to facilitating inward investment and hence improvement in their employment", Ms. Tang said. "We also had meeting with Clinton’s Global Initiatives (CGI) who is exploring to bring back the CGI Asia to Hong Kong in 2014. We welcome and hope to facilitate more international conferences held in Hong Kong." On behalf of the Foundation, Ms. Tang thanked Mr. Franklin Lam for his presentation and analysis over Hong Kong’s competitive advantages, both with hard figures and a lot of soft factors at many meetings.   

Mr. Franklin Lam shared his thoughts on this trip earlier that the meeting at the Heritage Foundation particularly resonated with him as he concurs with most of its belief in the principles of free enterprise, limited government and individual freedom. When they were updated of how our "small government" managed to achieve fiscal surplus of 2-4% in the past four years while the typical western country was suffering deficits of 6-10% in the global economic malaise, they were quick to appreciate how Hong Kong was managing to achieve "inclusive growth" in the past three years when tourism and inflow of other business opportunities had managed to create jobs that benefitted all segments of society especially the lower-skilled. They shared that other countries told them that they wanted to be "like Hong Kong". Also, in a number of meetings, the uniqueness of a fair and neutral Hong Kong was highlighted. This is very important for an Asian strategy (e.g. choosing an Asian headquarters) as the region is "radicalizing" with resurgence of nationalism in a number of countries. Most of the groups we visited had a good idea of our financial and economic capabilities from the many "muscle indices" (eg IPO's etc) in the market. Many were surprised just how good our "heart indices" are compared with the rest of Asia. These show that Hong Kong is a truly compassionate and trustworthy society.

Mr. Thomas Woo said the Foundation has been visiting big cities including New York and Washington DC to promote Hong Kong and to explain its latest developments since 2005. The Foundation also organizes and receives high-level overseas delegations from political circles, academic institutions, think tanks, enterprises and research institutes to exchange opinions and position on different social issues, through forums and conferences. Such activities are more effective, comparing to official interaction, in building trust and friendship. He believed the Foundation could play an important role not only in assisting our government to fight for the interests of Hong Kong, eg the Visa Wavier Program of the U.S., but also to promote the image of Hong Kong and China as a whole internationally.

Ms. Diana Chou noted a marked difference as our Hong Kong pitch was enhanced by the presentation of Mr. Franklin Lam. His research indicated that Hong Kong is not just a financial and trading hub in Asia, but also a city of culture and art where major international events such as Art Basel Hong Kong congregates. It’s the first time she felt perhaps Hong Kong should stand on its own merit as we become a world class city. The success of Hong Kong reflects how well the "One Country Two Systems" works. She hopes Hong Kong people should be constantly reminded and be proud of our heritage and unique geographical location as the super connector to Asia and gateway to our motherland.

Mr. Sebastian Man was gratifying to hear that the international community continued to have a positive view of Hong Kong. Of course, they are all well aware of the issues we face, the politics, the economic challenges, etc. On the politics front, while people do feel it is a healthy debate and a natural process towards democracy, it is important that we get our act together soon. In that context, it is good news to learn that the U.S. is working on visa waiver for Hong Kong. However, it is by no means a certainty and in fact, there are still challenges and we are delighted that we were able to put in our words to the people we met as well.  

Ms. Juliana Lam was impressed that there are many passionate people running different U.S. organizations and contributing their lives in order to bridge the understanding of the U.S. and China, bonding the two countries together from all kinds of aspects including culture exchange, political view sharing, etc. They are successful leaders and devote themselves to achieve these goals which echo the mission of the Foundation.

Mr. John Lee joined the delegation for the first time and said it has truly been an amazing experience during the four day visit to New York and Washington DC. Furthermore, this trip has been particularly memorable as it also coincided with our Honorable Chief Executive’s visit to New York. During our visit, we met with a number of business associations as well as government officials to share our views of Hong Kong and to promote the unique advantages of Hong Kong to further assess potential opportunities in this vibrant city. As the Chief Executive said in his speech, Hong Kong is "a Madison Avenue of the East and a super-connector in linking U.S. firms to markets in the Mainland of China and across Asia". Hong Kong indeed has many unique advantages and as a Council Member of the Foundation, he hopes to continue to promote the merits and opportunities in Hong Kong.

Ms. Tang expressed her sincere gratitude to the delegates and all organizations visited for their support in making the delegation a success. This regular updates and dialogue with the business community in New York and among interlocutors inside the Beltway is important in enhancing greater mutual understanding. The Foundation will endeavor to organize these kinds of visit to promote better understanding and collaboration.

For detailed itinerary, photos, bios of delegates and presentation of Mr. Franklin Lam, please visit the "Highlights of Past Activities" section of the Foundation’s website. More photos of the delegation could be found at the "Photo Gallery" section.

For enquiries, please contact Ms. Jimmie Chow, Communications Manager of the Foundation at Tel: (852) 2865 3529 / (852) 6030 6025 or email: jimmie_chow@betterhongkong.org.

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