Press Release - October 24, 2006

The Director of the Hong Kong Economic and Trade Office in Canada, Mr Bassanio So, today (Tuesday) encouraged Canadian companies to use Hong Kong as their sourcing platform and make use of its unique advantages.

Addressing a business workshop on "Hong Kong: Your Gateway to China" organized by the Canadian Association of Importers and Exporters (IE Canada), Mr So said: "Hong Kong has some of the best merchandising specialists in the world who have solid knowledge on China’s manufacturing environment as well as western business practices and standards."

"Our sourcing expertise and professionals have made Hong Kong, Asia's world city, the world’s 11th largest trading entity with a total merchandise trade amounted to US$586 billion in 2005," he said, adding that Hong Kong is also home to many leading traders in the world – 16 of 17 Fortune 500 trading companies are present there.

Mr So pointed out that as the window to sourcing in Mainland China, Hong Kong handles about 19 per cent of China’s imports and 22 per cent of its exports, and more than 75 per cent of international buyers of consumer products source Chinese goods via Hong Kong. The city is also the largest investor in each and every province in Mainland China, accounting for 46 per cent of China’s total foreign direct investment.

In addition to being a regional business hub, Mr So said Hong Kong is also the eyes and ears for regional sourcing opportunities in the Greater China area and the Asia Pacific region "because it provides capital, management, world-class infrastructure, transport and communications, connections to the international business community and technology to foreign companies."

"Canadian companies should make use of our competitive edge as their sourcing platform. The trading community in Hong Kong offers unparalleled knowledge of and access to factories in the Mainland, which gives overseas firms direct access to some of the most experienced and reliable production facilities in the Pearl River Delta and across Mainland China," he said.

"As some of the foreign companies who sourced from Hong Kong rightly pointed out, Hong Kong offers high working efficiency, latest market information and extensive links to all major business destinations. Our proximity to the Mainland China, and an ever increasing, and sophisticated supply base, give the Asia’s world city another distinctive edge," Mr So added.

Hong Kong's gateway role as the preferred sourcing platform for foreign companies is further enhanced by its supporting infrastructure, which includes logistics and transportation, financial services, insurance services, communication infrastructure and its common law legal system.

Also speaking at today’s session was the Director of the Hong Kong Trade Development Council (HKTDC) in Canada, Mr Andrew Yui. The topic of his presentation was "TDC’s Services – Your Sourcing and Marketing Platform".

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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 or email: [email protected] or
Elison Chu, Senior Information Officer, [email protected]

Photo shows the Director of the Hong Kong Economic and Trade Office, Mr Bassanio So, presenting his speech on "China sourcing done right: Are you missing the boat in the Pearl River" at the IE Canada’s 75th Annual Conference.

Click here to download a Chinese version of this press release in PDF format.