Press Release - February 18, 2005

The Director of the Hong Kong Economic and Trade Office (Canada) (HKETO) today (Friday) urged the Canadian companies, who plan to explore the lucrative China market, to leverage on Hong Kong�s solid advantages, especially its business expertise, financial infrastructure, and business network with China, to gain faster and better access to the immense Mainland market.

Speaking at the opening ceremony of the �Hong Kong-Calgary: Smart Link to Prosperity� promotion jointly organized by the HKETO and Fairchild Media Group at Calgary�s Chinook Centre, Mr So encouraged interested Calgary companies to take advantage to the benefits Hong Kong enjoys under the Closer Economic Partnership Arrangement (CEPA), a free-trade agreement between Hong Kong and China, by partnering with Hong Kong companies or going through Hong Kong to China.

�Under CEPA, Canadian companies and other overseas companies will benefit by either setting up their business in Hong Kong, partnering with a Hong Kong company, or even acquiring a company in Hong Kong,� he said.

�In terms of economic benefits, while CEPA provides good potential for Hong Kong to open up many new business opportunities in the Mainland, its zero import tariff preference might also attract overseas brand name products, and manufacturing processes with high-value added contents and substantial intellectual input to Hong Kong.

�CEPA�s benefits only apply to Hong Kong companies. Hence, I strongly encourage Canadian companies to leverage on this free-trade pact to gain greater access to the Mainland market,� Mr. So added.

The Hong Kong promotion includes an exhibit on �Hong Kong � Your Gateway to China�, and a Chinese Spring Lantern Festival. While the exhibit is on display at the Chinook Centre from today to the 21st, the Lantern Festival which served as an opening function of the promotion was held at the same venue today, featuring some beautifully decorated Chinese spring lanterns and traditional Chinese cultural performances.

The event was officially opened this evening by Mr Wayne Cao, Member of Legislative Assembly of Aberta, and other VIPs.

The opening also unveiled a series of celebration activities, including a Spring Lantern Festival riddle quiz at which handsome gifts were given out to those who demonstrated a good understanding on Hong Kong. A Calgary-Hong Kong return air ticket, with hotel accommodations and a local tour would be awarded to the grand-prize winner.

The �Hong Kong-Calgary: Smart Link to Prosperity� promotion is sponsored by Air Canada, Jade Tour and Treasure of China Seafood House, and are supported by the Hong Kong Tourism Board, and the Hong Kong-Canada Business Association (Calgary Chapter), with Chinook Center as the venue sponsor. Media sponsors are the Calgary Sun, Sing Tao Daily, Trend Weekly and the Calgary Chinese Journal.


For more information, please call: Stephen Siu, Assistant Director (Public Relations) of Hong Kong Economic and Trade Office at: (416)924-5544, email: [email protected], or Elison Chu, Senior Information Officer at [email protected]

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