The largest-ever Hong Kong promotion in the United States will be held this summer to showcase Hong Kong's advantages for American companies looking to tap new business opportunities in Asia, particularly on the Chinese mainland.
"Think Asia, Think Hong Kong," will feature two major symposia in New York and Los Angeles on June 11 and 14 respectively. Speakers include The Honourable C Y Leung, Chief Executive of the Hong Kong Special Administrative Region and over 60 prominent senior executives from global companies will participate. The event is organized by the Hong Kong Trade Development Council, (HKTDC) with support from 14 Hong Kong partners and nearly 100 U.S. supporting organizations.
USA-Hong Kong Ties
"As the global economic balance continues to shift to Asia, Hong Kong is the ideal business platform from which to access the myriad regional business opportunities now available in the growing ASEAN area and Chinese mainland," said HKTDC Chairman Jack So. "Our low taxes, free economy, rule of law, English-speaking environment and world-class business services make us the preferred partner for any overseas businesses wishing to tap these growing possibilities."
There are approximately 1,400 U.S. firms in Hong Kong, concentrated in trading, banking and finance, and transport. As of October 2012, there were 333 regional headquarters and 536 regional offices of US companies in Hong Kong, ranking first among other regions.
U.S. exports to Hong Kong in 2012 grew by 41 percent from 2010 to over $37 billion. Over the past decade (2003-2012), U.S. exports to Hong Kong have surged by 177%. In response to the U.S.'s National Export Initiative, HKTDC launched the Pacific Bridge Initiative (PBI) to further encourage American companies to use the Hong Kong platform. Since its implementation, the number of "new-to-market export successes" increased by 124 percent year-over-year in 2011, while the dollar value of export successes was up by 161.4 percent.
Symposia Will Highlight Advice and Opportunities for Entering Asian Markets
The sessions will feature information on why U.S. companies should consider using Hong Kong's business advantages. These sessions also will consider how mainland enterprises have been expanding their international presence through Hong Kong, and what they are looking for when seeking global partners. In addition, there will be approximately 10 industry sessions to provide practical tips on selling consumer brands to China and throughout Asia, explore technology partnership opportunities, discuss finance-related topics, and learn about the latest trends of Chinese outbound investment and collaborations on film and digital entertainment.
Extended Networking Opportunities
More than 100 Hong Kong government officials and business leaders from a wide spectrum of sectors including lifestyle products, fashion, food and wine, technology, finance, accounting, legal, logistics and marketing will take part in the June program, and participate in business matching with U.S. companies onsite. The TATHK campaign is expected to attract more than 2,000 American corporate leaders, government representatives, heads of SME's and opinion leaders with a special interest in Asia.