The Better Hong Kong Foundation Organizes High-Level Delegation to the United States – To Deliver Messages of Progress and Confidence

A high-level delegation from the Better Hong Kong Foundation will leave for the United States on Thursday, March 18 to discuss economic and political developments in Hong Kong. The delegation aims to update American leaders on Hong Kong’s state of affairs and to facilitate exchanges between those leaders in Hong Kong and the United States.

Led by Executive Councillor of the Hong Kong Special Administrative Region and Chairperson of the Foundation’s Executive Committee, Mrs. Nellie K.M. Fong, the delegation will visit New York, Boston and Washington, D.C. to meet Congressmen and other administration members, prominent business leaders, think-tanks, academics and media representatives.

“The delegation’s mission is to foster better understanding between Hong Kong and the international community. High-level visits such as these have resulted in mutual respect, support, and most of all, an enhanced communication between East and West since the Foundation’s inception in 1995. We are continuing these efforts for the long-term benefits of our society,” said Mrs. Fong.

Other members of the delegation include Mr. Daniel Fung, former Solicitor General of Hong Kong; Mr. Richard Li, Chairman and Chief Executive, Pacific Century Group; Mr. Andrew Sheng, Chairman of the Securities & Futures Commission; and Professor Richard Wong, Director, School of Business and Professor of Economics at the University of Hong Kong. The delegation will be accompanied by the Foundation’s Chief Executive, Mr. George Yuen Kam-ho.

“With the continuing economic recession in Asia, the Foundation sees the need to brief our associates and colleagues in the United States on Hong Kong’s prospects for the upcoming year. We will also discuss the latest measures proposed by the Financial Secretary in his Budget Speech earlier this month, which demonstrates how Hong Kong is actively seeking innovative solutions such as the construction of a Cyberport and the merger of the Stock and Futures Exchanges to meet the challenges we are currently facing,” Mr. George Yuen said.

The visit, which will conclude on March 25, 1999, will include the delegation meeting with Congressmen in Washington, DC. They will also exchange their views on international affairs with the National Committee on U.S. China Relations, the Asia-Pacific Subcommittee of Congress, and the Council on Foreign Affairs. In the light of the Hong Kong Government’s initiative to spearhead the development of information technology, the delegation will also be meeting representatives of the U.S. Information Technology Office to learn from their experiences. Delegation members also will be received by Ambassador Micky Kantor, along with other political and investment community leaders.

Key financial bodies such as NASDAQ, the New York Stock Exchange, Federal Reserve of New York, Securities & Exchange Commission and the Securities Industry Association, as well as credit-rating agencies such as Moody’s and Standard & Poor’s will share their views with the delegation on a full range of financial issues.

The delegation will also be meeting professors and academics at Harvard University and the Massachusetts Institute of Technology.

During the visit, the delegation will share their views on a wide range of Hong Kong policy issues with prominent think-tanks, including the Recording Industry Association, Economic Strategy Institute, and with General Brent Scowcroft of the Scowcroft Group.

In addition to liaising with prominent political and business leaders, delegation representatives will meet with high-profile media such as CNN, Reuters, Bloomberg News, Forbes Magazine, Fortune Magazine, Time Magazine, New York Times and Wall Street Journal. The delegation will also express their views in an editorial roundtable with Business Week.

As well-respected leaders in their professions, the delegation will offer authoritative and balanced views about Hong Kong.

 

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The Better Hong Kong Foundation is a privately funded, non-profit, non-political organization, formed by leading Hong Kong business people. The Foundation aims to reinforce Hong Kong’s role as the regional leading financial, shipping trading, and communications centre. It also serves to enhance greater international understanding between East and West. The Foundation is committed to facilitating communication between Hong Kong and China and the international community.