"China Initiative" Launched in Ontario

An ambitious new collaboration between the Hong Kong Economic and Trade Office (HKETO) in Canada and the Ontario Chamber of Commerce (OCC) will enable Ontario businesses to better leverage the vast opportunities in the Asia-Pacific region. 

Described by the OCC, the largest provincial business organization in 
Canada, which represents over 57,000 businesses, as an alliance between 
the business people of Hong Kong and Ontario, the "China Initiative" is 
designed to allow Ontario's small and medium-sized businesses to utilize Hong Kong's position as the gateway to Mainland China. 

The “China Initiative” launches just as a new survey reveals that most 
Canadian manufacturers and exporters are unprepared to do business with 
China. The Asia Pacific Foundation of Canada and Canadian Manufacturers 
& Exporters (CME) survey found that only a little over one-third of the 
companies surveyed are already doing business with China, the majority 
of them with less than three years' experience. 

The study found that only 17% of companies have developed a formal 
strategy for responding to China’s economic rise. Thirty three percent 
see China as more of an opportunity, whereas 31% consider it more of a 
threat. Despite China’s strong demand for commodities, Canadian 
businesses are mainly focused on imports; only 13% of the sample 
currently exports to China.

Speaking to some 150 business leaders, senior government trade 
officials and media representatives, the Director of the HKETO, Mr. Bassanio So, emphasized Hong Kong’s potential significance in the China strategy of Canadian business people: "Historically, Hong Kong has been China's window to the world. Not only do foreign companies use Hong 
Kong as a stepping-stone to launch their products or services into Mainland China, Chinese companies also use Hong Kong as a launching pad for international expansion.”

Mr. So described Hong Kong as a potential beachhead in China. "Under 
the 'one country, two systems' principle, our economic and legal systems are preserved. These, combined with the economic freedom companies enjoy in Hong Kong, free flow of information, a level playing field and corruption-free civil service, have made Hong Kong most user-friendly for Canadian companies to do business in China."

Len Crispino, President and CEO of the OCC, said: "The China Initiative 
will enable Ontario businesses to bridge the gap in market intelligence 
and business culture in the Asia-Pacific region."

The HKETO will provide a stronger link between OCC and "Hong Kong 
family" members, including the Canadian offices of the Hong Kong Trade 
Development Council, Invest Hong Kong, and the Hong Kong Tourism Board, Chinese business associations across Canada and the Hong Kong-Canada Business Associations in eight major Canadian cities, as well as the Canadian Chamber of Commerce in Hong Kong. 

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