Canadians: “Open The Door to New Opportunities”

Canadians should benefit from the strong connections that link Hong Kong, China and Canada and open the door to new opportunities, said Janet De Silva, President of the Canadian Chamber of Commerce in Hong Kong.

Ms De Silva who flew in from Hong Kong for the conference, was speaking at the opening luncheon of the Chinese Business Conference “Your Road Map to China”, at the Toronto Metro Convention Centre on June 21. 

She shared her experiences and provided numerous tips on how best to approach China trade and enter the China market through Hong Kong. She pointed out that the time for Canadians to partner with Hong Kong is now: “Since September of last year, there has been an incredible influx of new businesses into Hong Kong, which is among the highest level of activity since before the financial crisis in 1997,” she said. 

Ms De Silva provided conference participants with insights into the Mainland market. “China is not a single economy, nor is it a single market,” she said. “China has, in fact, over 31 different provincial and city markets that are highly self-contained, and some of them are huge. Forming relationships at city and provincial levels is, thus, vital.”

She described the Pearl River Delta (PRD) as “the fastest growing part of the fastest growing province in the fastest growing large economy in the world.” She said Canadians should look at the PRD as a source of manufacturing advantage, as a natural market and as a base for China business. 

Using the real-life experience of three Canadian companies – Securac, White Spot and Royal Bank Capital Markets – that have recently set up or expanded their operations in Hong Kong, Ms De Silva offered practical reasons for their choice of location. These include Hong Kong’s proximity to other major Asian centres, its well-developed legal system, access to a talented labour pool and capital markets, Hong Kong’s beneficial CEPA status and Hong Kong’s strong links to Canada, which present highly beneficial networking opportunities.

In addition, Ms De Silva said, “Canadian business people have a large, active, credible base of connections to draw upon when considering business in Hong Kong and China.” These include:

• The Canadian Chamber of Commerce in Hong Kong, the largest Canadian business association outside Canada
• Hong Kong Economic and Trade Office / Invest HK /Hong Kong Trade Development Council
• Canada’s Department of Foreign Affairs and International Trade 
• Canadian university alumni groups

Ms De Silva offered helpful advice on finding a Hong Kong partner and emphasized the importance of cross-cultural training for all staff.

She concluded by expressing her hope that Canadians will take advantage of the tremendous opportunities available to them in Hong Kong. “Give some thought to the potential fit of Hong Kong as an entry point for your China business,” Ms De Silva counselled.

For full text of Ms De Silva’s speech, please visit: http://www.hketo.ca/news/pages/June-21-2004-speech.html.

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