The Better Hong Kong Foundation’s Mission to U.S. – A Resounding Success

A Better Hong Kong Foundation’s delegation has just returned after a successful 7-day mission to the United States, between June 19 and 25, 2001.

As part of continuous efforts in keeping Hong Kong a prominent business spot on the world map, the Foundation’s visit serves to update American opinion-leaders and interlocutors on Hong Kong. The mission, led by Mrs. Nellie Fong, Chairman of the Executive Committee, includes: Foundation Trustee, Group Managing Director of Lam Soon (Hong Kong) Ltd., Mr. Jim Tsao, Senior Counsel Mr. Daniel Fung, Hong Kong Productivity Council Chief Executive Mr. Thomas Tang, Goldman Sachs Managing Director Dr. Fred Hu, Wilkinson & Grist Consultant Ms. Anne Chen, and Salon Films Managing Director Mr. Fred Wong. The mission visited Washington D.C., New York and Los Angeles.

Delegates presented to the United States administration, congressmen, business leaders, think tanks and media with the latest political and economic situation of Hong Kong, its investment outlook especially against the background of China’s imminent accession to the World Trade Organization (WTO).

Delegates also met with the top management of U.S. famous corporations, including Citibank Vice Chairman, Mr. Bill Rhodes, Goldman Sachs Vice Chairman Mr. Robert Hormats, Standards & Poor’s President, Mr. Leo O’Neil, and Fortune Digital President, Mr. John Needham. The mission also visited Nasdaq, Disneyland and Universal Studio.

Delegation leader, Mr. Nellie Fong described the mission a resounding success as manifested by a series of high level meetings with the U.S. officials, congressmen and their aides in Washington D.C. and top corporate CEOs in New York. They reasserted that Hong Kong’s one country two systems principle had been working very well. They were impressed by the present administration under Mr. C. H. Tung, in times of adversities especially during the Asian economic crisis and its aftermath.

The U.S. interlocutors reiterated that better U.S.-China relations would mean a better Hong Kong. Hence, the HKSAR would continue to assume an important role to facilitate friendly exchanges of U.S. and China opinion leaders and to foster a better understanding between two countries. Mrs. Fong added that the foundation would continue its activities in the U.S. and would assist in arranging congressional and media visits to China and Hong Kong.

Foundation’s Trustee, Mr. Jim Tsao expressed confidence in the China’s accession to the WTO, the U.S. and China’s trade negotiators came to agreement on the way forward. With Mr. Tsao’s company, Lam Soon (Hong Kong) Group, being one of the largest importers of U.S. wheat in China, his assessment on the opinion of the WTO was insightful and well received. Mr. Tsao believed that the successful conclusion of the WTO talk between China and U.S. would bring prosperity to both countries and hence would benefit Hong Kong.

Another delegate, Senior Counsel, Mr. Daniel Fung articulated the strength for Hong Kong’s continued top rank as the freest economy in the world. The level-playing field practice, the WTO business compliance, the zero tolerance for corruption, the rule of law and the free flow of information made up the formula for Hong Kong’s success. Mr. Fung further remarked, “In keeping abreast with today’s knowledge economy and trade globalization, Hong Kong is expanding its business portfolio to embark on a bold and visionary infrastructure development on technology and innovation such as Cyberport and science parks. Beside, mission-critical education and human resource policy and strategy package to upgrade the quality of our work force is of paramount importance. More significantly, Hong Kong’s integration with the Pearl River Delta would create favourable investment environment and business opportunities to multinational corporations and Hong Kong companies.”

Delegate Mr. Thomas Tang capitalized the visit to promote the World Congress on Productivity to be organized by his council in Hong Kong in early November. The World Congress would attract 1,500 delegates from over 40 countries. Additionally, Mr. Tang initiated partnership discussions with U.S. business associations so as to make strategic alliance in promoting business exchanges between small-medium enterprises in the U.S. and Hong Kong with propensity to expand activities in China.

Both Dr. Fred Hu and Ms. Anne Chen agreed that the U.S. economy had great impact on Hong Kong’s growth. They expected after China’s accession to the WTO, Hong Kong servicing and financial sectors would make a significant contribution to generating more brisk U.S. and China business activities through interactions with Hong Kong.

Salon Films Director Mr. Fred Wang expressed renewed confidence in Hong Kong’s film industry. As the success of the Oscar winning award film “Crouching Tiger and Hidden Dragon” had re-ignited Hollywood producers’ interest in Asia, they would use Hong Kong as their logistics base, and as a springboard into China location filming and joint production.

The Foundation’s Chief Executive, Mr. George Yuen thanked U.S. government and congress for giving the delegation such a high-level and warm reception. He also gratefully acknowledged the support of the Hong Kong Economic Trade Office for the visit.

“Equally important, we have a great team in our successful endeavours to the United States as everybody did an excellent job in conveying the right message.”

Mr. Yuen added, “We all took part in over 30 useful dialogues pivotal to future co-operation, business ties and educational exchange. We will keep up our good efforts and build on our relations with opinion leaders, business community, research institutes, non-government organizations overseas for the economic health and public well-being of 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 to reinforce Hong Kong’s role as the leading regional, financial, shipping, trading, communication 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.