Hong Kong’s latest achievements highlighted in Toronto reception

December 15th, 2011

The Director of the Hong Kong Economic and Trade Office (HKETO), Miss Gloria Lo, today (Thursday) spoke about Hong Kong’s latest ranking as the world’s No. 1 in financial development at the annual Hong Kong Family Christmas reception in Toronto.

The reception, jointly hosted by the HKETO, Toronto section of the Hong Kong-Canada Business Association, Hong Kong Trade Development Council, and Hong Kong Tourism Board at Yorkville’s Intercontinental Hotel, was attended by 180 guests from the business and financial sectors, Hong Kong community, media and government representatives, including MP Patrick Brown, Ontario Minister of Tourism, Culture and Sport, the Hon. Michael Chan etc.

Speaking at the reception, Miss Lo said the World Economic Forum has just released its Financial Development Report 2011, in which Hong Kong is ranked 1st among 60 economies in the world, overtaking the United States and United Kingdom.

The study acknowledges Hong Kong’s strengths in financial access, business environment and banking financial services, and in particular, its strong performance in IPO activity and insurance. “This is the first time ever for an Asian city to receive such an honour,” she said.

Miss Lo also said that Hong Kong is full of opportunities for business and investments. “Both Hong Kong and Canada have managed to ride out of the global financial crisis fairly well,” she said. “With the growing interests of the Canadians in Asia markets and the mission of Hong Kong to go global together with Mainland enterprises under the national 12^th Five Year Plan, we see the scope of further enhancing the economic and trade relations between Hong Kong and Canada.”

The HKETO director also shared with the guests the latest news that Mainland China and Hong Kong have signed a new deal under the Closer Economic Partnership Arrangement (CEPA) to further liberalize the service sectors and strengthen cooperation between Hong Kong and the mainland in areas of finance, tourism, innovation and technology, etc.

She said, “With this Supplement VIII to CEPA, Hong Kong service suppliers would be able to enjoy preferential treatment in a total of 47 service sectors in the Mainland market. This also applies to foreign-owned service suppliers operating in Hong Kong.”

“These two achievements are very pleasant Christmas gifts for Hong Kong and would certainly further boost our trade promotion efforts in the coming year,” Miss Lo added.

Miss Gloria Lo, the Director of the Hong Kong Economic and Trade Office speaking at the annual Hong Kong Family Christmas reception in Toronto.

The annual Hong Kong Family Christmas reception in Toronto is jointly hosted by the Hong Kong Economic and Trade Office (HKETO), Toronto section of the Hong Kong-Canada Business Association (HKCBA), Hong Kong Trade Development Council (HKTDC), and Hong Kong Tourism Board (HKTB). Picture shows HKETO Director Miss Gloria Lo joining representatives of the Hong Kong Family in a toast. From left: HKTB Director (Canada, Central & South Americas) Michael Lim, HKTDC Director (Canada) Andrew Yui, Miss Gloria Lo, HKCBA National Chair Robert Armstrong, HKCBA (Toronto Section) Executive Director Bob Brown and HKCBA (Toronto Section) President Peter Lawler.

Chinese version on next page.

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