Press Release - June 8, 2006

Hong Kong’s role as a centre for technological cooperation and integration in Asia and the opportunities it offers to Canadian technology companies in light of the robust demand from the mainland market in China is the theme of a business presentation held in Vancouver today (Thursday).

At the luncheon presentation, entitled “Hong Kong – Technology Marketplace in Asia” organized by the Vancouver Section of the Hong Kong Canada Business Association, the Director of the Hong Kong Economic & Trade Office in Canada, Mr Bassanio So, briefed the participants Hong Kong’s role as a trading hub and a technology marketplace in Asia and the conducive business environment the city provides for Canadian companies.

Mr So said: “Hong Kong industries excel at certain technological areas like innovation, commercialization, application and industrial engineering, which are backed by a technology cluster composed of local as well as foreign enterprises in the territory.

“This is due to the fact that Hong Kong has a sizable cluster of companies engaged in different technology-related industries, such as electronics and parts and components, auto parts, information, communications and telecommunications, environmental protection, etc.,”

Citing Hong Kong’s R&D; and innovation activities, Mr So said about 3,860 companies were engaged in R&D; activities in 2004, representing a 1.4% of all the companies in the business community, and 15,685 companies were engaged in innovation activities, accounting for 5.6% of all companies.

In 2004, there were 1,600 and 3,525 companies operating with external partners on R&D; and innovation activities respectively. About 51% of the 1,600 and 36% of the 3,525 companies were cooperating with local partners over R&D; and innovation activities, respectively, which may include local firms and foreign companies.

Mr So told the participants that the congregation of various technological activities in Hong Kong is due to a number of Hong Kong advantages that serve as facilitators for undertaking R&D; and innovation activities in the city. They include: conducive business environment (world-class transportation network, stringent IPR protection and enforcement, availability of professional services, advanced communications infrastructure, proximity to Mainland China, in particular the Pearl River Delta and simple and low tax regime), industry-specific advantages (presence of clusters of tech-related industries, clusters of foreign firms, availability of a pool of engineering and technical professionals, proximity to huge industrial market), and technology hardware advantages (access to sensitive technology and high-tech equipment, advanced digital telecommunications and satellite infrastructure, and availability of state-of-the-art hardware infrastructure such as the Science and Technology Parks and Cyberport). Such factors have a positive impact on activities related to technology undertaken by the business community.

As far as opportunities for cooperation, Mr So said a large number of manufacturers and services providers are already engaged in activities like innovation, application and commercialization, which include technology transfer and cooperation, with Mainland China and foreign companies.

“Along with the relocation of manufacturing activities across the border, Hong Kong has engaged in the transfer of technology to the Mainland via direct investment in manufacturing there.

“Moreover, a substantial number of Hong Kong companies have also set up distribution network in the Mainland, shifting to intermediary sourcing technology for the Mainland from the international market,” Mr So said.

“On this, Hong Kong can act as an agent for commercializing the Mainland’s technology in marketing to overseas companies,” he concluded.
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For more information, please contact: Stephen Siu, Assistant Director (Public Relations) of the Hong Kong Economic and Trade Office at: (416)924-5544 (Ext. 224) or email: [email protected] or Elison Chu, Senior Information Officer at (416)924-5544 (Ext. 283),or email: [email protected]

Photo shows the Director of the Hong Kong Economic & Trade Office in Canada, Mr Bassanio So, today (Thursday) briefing the participants on Hong Kong’s role as a trading hub and a technology marketplace in Asia, and the conducive business environment the city provides for Canadian companies at a luncheon presentation entitled “Hong Kong – Technology Marketplace in Asia” organized by the Vancouver Section of the Hong Kong Canada Business Association.

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