HKETO San Francisco hosts business luncheon in California for 25th anniversary of HKSAR establishment (with photos)
28.10.2022

To celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, the Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) hosted a business luncheon titled "25 and Beyond - Hong Kong's Past and Future Evolution as an International Business, Finance and Trade Center" in Los Angeles, California, on October 26 (Los Angeles time). Delivering welcome remarks at the event, the Director of HKETO San Francisco, Ms Jacko Tsang, said, "In the past 25 years, Hong Kong has continued to thrive on the world stage as a world-class city, thanks to the unique advantages we enjoy under the 'one country, two systems' principle. We remain the undefeated champion as the world's freest economy in the past 25 years. We are a leading international financial centre, we have developed into the world's largest offshore Renminbi hub, and we are rising as one of the most anticipated global I&T (innovation and technology) hubs. "Our 25th anniversary carries the theme 'A New Era - Stability &bull; Prosperity &bull; Opportunity'. The theme not only captures Hong Kong's impressive achievements over the past two and a half decades, but also underscores our eager anticipation for and confidence in a brighter future," she added. The Secretary for Financial Services and the Treasury, Mr Christopher Hui, delivered a video keynote address at the event. Mr Hui said, "Hong Kong and the United States (US) have deep-rooted ties on many fronts and share a lot of interests in common. We have a strong economic and trade relationship as well as people-to-people links. Last year, the US was our third-largest trading partner and third-largest export market. The bilateral merchandise trade between Hong Kong and the US amounted to over US$66.4 billion, representing an increase of more than 19 per cent over the year before. "Some 1 200 US companies call Hong Kong home, with over half of them serving as regional headquarters or offices. This strong preference in making Hong Kong the base where they oversee regional operations in Asia speaks clearly of the strong confidence that US companies have in Hong Kong's enduring advantages," he added. He continued, "Hong Kong is blessed with immense opportunities, secured by the National 14th Five-Year Plan and development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). To prepare for the opportunities ahead, we are introducing measures to enhance Hong Kong's appeal as a destination for listing and asset management, facilitate cross-boundary financial collaboration between Hong Kong and the Mainland and expand offshore RMB business, as well as promote fintech. "Twenty-five years have passed, and Hong Kong is still the city of hope for us. Opportunities are everywhere in Hong Kong. We welcome talent from all over the world to take advantage of the opportunities of this vibrant 'Asia's world city'. With various immigration schemes tailored to support talent looking to work and live in Hong Kong, we make it easy for our overseas communities to join us in exploring the exciting prospects of the city," he concluded. An interactive panel discussion was presented at the business luncheon, featuring the Chief Global Strategist of the Milken Institute, Mr Kevin Klowden, and Senior Vice President and Head of China Business and Strategy of East West Bank Mr Andrew Pan as panellists, with Ms Tsang as the moderator. The group discussed the factors that have made Hong Kong successful as a gateway between the Mainland of China and the world, as well as challenges and opportunities facing the city. They discussed Hong Kong's unique advantages under "one country, two systems", and opportunities arising from the GBA development. The event was well received by the guests from a variety of business sectors, trade associations as well as community leaders.