U.S. Opinion Leaders Reaffirm Support for Strong Hong Kong-U.S. Links in Talks with Better Hong Kong Foundation Delegation

During a week of high-level discussions in the United States, a delegation organized by the Better Hong Kong Foundation received positive responses from opinion leaders, who urged continued strengthening of the links between Hong Kong and the United States. The delegation was composed of Hong Kong political, business, and legal leaders, and was the first prominent delegation to the United States following the first anniversary of the establishment of the Hong Kong Special Administrative Region.

Led by the Honorable Nellie Fong, Executive Councillor and Chairperson of the Executive Committee of the Better Hong Kong Foundation, the delegation met with influential American audiences including political and business leaders, and representatives from prominent think tanks, media organizations, and universities. The visit, which commenced on September 14 and ended on September 18, included meetings, seminars, and media interviews in Houston, TX, Washington, DC, and Los Angeles, CA.

“The goal of the delegation’s visit was two-fold. First, we sought to inform American audiences of the significant achievements which have taken place in Hong Kong since the Handover; and secondly, we aimed at fostering the international community’s understanding of the development and opportunities which exist in Hong Kong, even in light of the Asian economic crisis,” said Mrs. Fong.

The delegation engaged in dialogues with key opinion leaders in the United States on Hong Kong’s progress and future challenges. Discussion topics covered a wide range of issues which focused on Hong Kong’s evolving economic and political situation.

American audiences showed great interest in the Hong Kong Government’s recent actions in the stock and futures markets. In response to a statement of concern regarding Hong Kong’s free market system, Executive Councillor Henry Tang said, “We sensed both a strong interest, but also, unfortunately, a serious lack of information among American audiences regarding the Hong Kong Government’s motivation for becoming involved in the markets considering the urgent situation at that time.”

Mr. Tang continued, “The delegation was successful in communicating to political and business leaders a more comprehensive view of the situation Hong Kong faced at the time. We explained that the major objective was to save the U.S.-Hong Kong dollar link since it is extremely important, not only for the stabilization of the Hong Kong economy, but also for the Asian economy as a whole. Following these discussions, our American counterparts felt they had a better understanding of the situation and expressed their support, even in light of Alan Greenspan’s comment on the issue.”

“Undoubtedly, there is strong interest in Hong Kong in the United States,” concurred Professor Lau Siu-kai, Professor of Sociology of the Chinese University of Hong Kong. “Opinion leaders there are generally more positive towards Hong Kong now than before the Handover. These days, however, their interests are focused towards the economy rather than on political issues.”

Dr. Eden Woon, Director of the Hong Kong General Chamber of Commerce, said, “Leaders in the United States are confident that Hong Kong is still offering the best opportunities for investment among Asian countries.”
 
Dr. Woon added, “Americans view Hong Kong as a gateway to China and they understand that Hong Kong is developing innovative technologies and high value-added industries, while also establishing closer economic ties with its Mainland counterparts.”

The delegation also shared information and views about Hong Kong’s recent political situation, including issues such as the Legislative Council election in May, executive-legislative relations, democratic development, civil liberties, and the legal system.

Mr. Anthony Chow, President of the Hong Kong Law Society, said, “We were able to explain the dedication of the Central Government and Hong Kong Special Administrative Region Government to abide by the Basic Law and to maintain the high level of autonomy enshrined in the mini-constitution.”

Mr. Chow added, “The existence of a stable and independent legal system, including the establishment of the Court of Final Appeal here, has been vital in generating business leaders’ strong confidence in investing in Hong Kong.”

During the visit, the delegation held discussions with senior politicians, including congressmen, former secretaries of the federal administration, mayors, and leading businessmen, bankers, and economic commentators. Visits were arranged with prominent think tanks such as the Heritage Foundation, the Center for Strategic and International Studies, and the Brookings Institution. Delegates took part in a series of Hong Kong seminars at Rice University, George Washington University, and the University of Southern California. The delegation also attended editorial board meetings with leading U.S. newspapers including the Houston Chronicle, the Washington Post, the Washington Times, the Los Angeles Times, Investors Business Daily, and USA Today. Interviews were arranged with CNN, CNBC, PBS, Fox TV, the Asian Wall Street Journal, the Associated Press and Agence France-Presse.

Mr. George Yuen, the Foundation’s Chief Executive, said, “We believe we have made a good investment of our time and efforts. Not only have we promoted understanding, but also secured support from American opinion leaders who are hopeful of our recovery and optimistic that our practice of a free economy and an open market will be continued.”

“The Foundation will continue to engage in dialogues with our U.S. partners and to conduct information exchanges on matters of mutual interests well into the future,” he added.

Mrs. Nellie Fong concluded, “Overall, this visit was highly successful in fostering better understanding between opinion leaders in the United States and Hong Kong. The United States is, and will continue to be, a very important investor and trading partner with Hong Kong. We look forward to strengthening this link for many years to come.”

End

The delegation was led by the Honorable Nellie Fong, Executive Councillor and Chairperson of Executive Committee of the Better Hong Kong Foundation. Other members include Mr. Anthony Chow Wing-kin, President of the Law Society of Hong Kong; Mr. Daniel Fung, former Solicitor General of the Hong Kong Special Administrative Region Government; Professor Lau Siu-kai, Associate Director of the Institute of Asia-Pacific Studies and Chairman of the Department of Sociology of the Chinese University of Hong Kong; Mr. Andrew Sheng, Deputy Chief Executive of the Hong Kong Monetary Authority and Chairman-designate of the Securities & Futures Commission; Mr. Henry Tang Ying-yen, Executive Councillor of the Hong Kong Special Administrative Region Government and Chairman of the Federation of Hong Kong Industries; and Mr. Eden Woon, Director of the Hong Kong General Chamber of Commerce. The delegation was accompanied by the Foundation’s Chief Executive, Mr. George Yuen Kam-ho.

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.