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Hong Kong's role as the trade and business platform in the Asia-Pacific is set to grow enormously with the mainland's entry to the World Trade Organisation (WTO), according to chairman of the Federation of Hong Kong Business Associations Worldwide Maxwell Brotman. He was speaking at a global gathering of associations, held for the second year at the Hong Kong Convention and Exhibition Centre.
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Chinaˇ¦s accession to the World Trade Organisation (WTO) and the successful outcome of the Doha Ministerial Meeting will add new momentum to the further liberalisation of trade and services, promote closer economic interdependence among economies, and speed up the process of globalisation, said Chief Executive Tung Chee Hwa at the opening ceremony of the 14th General Meeting of the Pacific Economic Co-operation Council (PECC).
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The Netherlands is the second largest investor in Hong Kong as Dutch companies continue to use Hong Kong as their platform to the Asia-Pacific and the burgeoning mainland market, according to the Dutch Consul-General in Hong Kong, Jochum Haakma.
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Guangdong Governor Lu Ruihua welcomes brand name retailers from the SAR to establish their presence in the Pearl River Delta (PRD) adding that ˇ§Hong Kong is PRDˇ¦s best partner,ˇ¨ according to Chinese language newspaper The Hong Kong Commercial Daily. Mr Lu added that Hong Kong is a ˇ§front shopˇ¨ whereas Guangdong province is a ˇ§rear factory.ˇ¨
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The US based non-profit corporation The Internet Corporation for Assigned Names and Numbers (ICANN) has formed a joint-venture in Hong Kong to settle domain name disputes in Asia. ICANN which oversees allocation of web addresses globally, said the joint-venture formed by the Hong Kong International Arbitration Centre and the China International Economic and Trade Arbitration Commission makes dispute resolution easier for people and institutions from Asia. It will start accepting disputes on February 28.
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Hong Kong has the most hospitable policies for foreign investors in Asia, according to a regional survey by the Political and Economic Risk Consultancy. Reported by the South China Morning Post, findings were based on the opinions of 1,000 expatriate executives in 12 Asian economies surveyed during the September quarter to rate their places of residence in terms of hospitality to foreign direct investment (FDI). Hong Kong topped the survey with an average grade of 2.27, followed by Singapore with 2.29.
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