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Hong Kong has maintained a high degree of autonomy, and has a very considerable and prosperous future due to its close economic ties with the Chinese mainland, according to British Secretary of State for Foreign and Commonwealth Affairs, Mr Jack Straw.
“It is self-evident that there will be an ever closer economic association between Hong Kong and the Pearl River Delta and this has already begun very vigorously to develop. Hong Kong is important not only to the economy of Hong Kong but also to this great hinterland which it is serving, which gives it great new opportunities for the future,” said Mr Straw, speaking at a recent press conference in Hong Kong. (full story)
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The number of visitors from the US, Japan and the Chinese mainland, rose significantly at the recent Hong Kong Fashion Week for Spring/Summer 2003 indicating an encouraging turnaround for the garment industry from the negative impact of the September 11 terrorist attacks.
Hong Kong Fashion Week organised by the Trade Development Council (TDC) registered an overall 12 per cent rise in visitor attendance compared to last year, with 20 per cent increases from the US and Japan respectively, and eight per cent from the mainland.
(full story)
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Hong Kong and the Pearl River Delta (PRD) offer outstanding opportunities for overseas investors, on the basis of their complementary, competitive advantages, according to Chief Executive Tung Chee Hwa. Mr Tung, speaking at the “Pearl River Delta: Forging a New Force” conference in Hong Kong on 8 July, said that the two regions should work closely together to develop a dynamic regional economy. (full story)
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Hong Kong's tourism industry is showing signs of improvement as visitor numbers are growing, especially from the Chinese mainland, and the outlook is positive for the rest of the year. Visitor numbers rose 6 per cent in June from a year ago, and rose 12.8 per cent in the first half of this year to 7.5 million, according to the Hong Kong Tourism Board. The board has forecast visitor growth of 7.9 per cent this year.
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Hong Kong real estate developer Kerry Properties said it would invest in a HK$232 million (US$29.7 million) Shanghai joint venture to expand its logistics business in eastern China. The joint venture, called Shanghai Kerry CHJ Logistics Ltd or Kerry CHJ, will allow Kerry to provide trading, warehousing, container transport and trucking services to its Shanghai partner's existing customer pool, Reuters reported.
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The Airport Authority and the Hong Kong Government will invite expressions of interest from around the world next week for the development of an International Exhibition Centre at Hong Kong International Airport (HKIA). The AA and the Government will be seeking a joint venture partner with extensive experience in developing exhibition centres, for the first phase of the new 57- hectare SkyCity commercial complex.
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More than one-third of chief executives with Hong Kong-listed companies are confident that Hong Kong's economic performance will take a turn for the better in the next six months, according to a poll of the top management of 36 companies by The Chinese University of Hong Kong.
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