The Hong Kong ‘idea’ is stronger than ever and the Hong Kong – US business relationship is better than ever before. That is the view of the new chairman of The American Chamber of Commerce in Hong Kong (AmCham), Jim Thompson. He was speaking at his inaugural luncheon in Hong Kong on 16 January 2002.

“In my opinion, the United States is on the threshold of the most productive relationship it has ever experienced with Hong Kong and China,” said Mr Thompson, also founder and chairman of the Crown Worldwide Group. “We are all very major trading partners with each other and despite the current economic downturn, this relationship is destined to become much stronger throughout this decade,” he added.

Mr Thompson said that Hong Kong is a unique place due to its free economy, low and simple tax regime, fair system of justice and free press.

“But it is not only a place, it is an idea. It is a very unique idea even by capitalist standards. This idea has resulted from all its positive factors coming together in one place and being well managed by good people. The natural evolution of the Hong Kong ‘idea’ continues to take place as it expands into Southern China,” he added. “Hong Kong and the Pearl River Delta are rapidly becoming “One Country, One Economy. All the elements are in place to make this region one huge and continuously growing economy for many years to come.”

Foreign direct investment by American companies into Hong Kong has continued to grow at an impressive pace. The number of regional offices set up by US companies in Hong Kong has grown by 17 per cent in the past year and inquiries from American small to medium sized businesses about doing business in Hong Kong has grown by 30 per cent in the past year. There are some 50,000 American passport holders living in Hong Kong.

“2002 will be a very positive year and economic recovery will kick in fairly quickly,” said Mr Thompson.