Outgoing US Consul-General James Keith said the best way for Hong Kong to compete in the 21st century is to take full advantage of all its population resources
AmCham president Jack Maisano says Hong Kong is very accommodating and helpful to people wanting to do business in the city

The outgoing United States Consul-General James Keith said he remained as confident in Hong Kong's rule of law as he was when he assumed the appointment three years ago.

At his farewell luncheon organised by the American Chamber of Commerce (AmCham), Mr Keith said the Chinese mainland, the international community and the Hong Kong Government had a shared interest in preserving the city's success.

"It's reasonable to conclude that rational actors, acting on their own interests, will take steps to ensure stability and prosperity in Hong Kong. This will lead to an appropriate emphasis on the priority of law."

Optimism all round

Mr Keith said he was very positive about Hong Kong's future.

"Looking to the future, one can't help but share the Hong Kong people's current positive frame of mind. Today, after significant fluctuation, the economic numbers are all moving in the right direction. GDP is growing, unemployment is falling, and citizens are expressing confidence about Hong Kong's ability to be reborn - again - as a new, dynamic leader in southern China, in the region, and globally."
 
A similarly optimistic view of Hong Kong was expressed by the new AmCham president, Jack Maisano.

Mr Maisano said Hong Kong has an important role to play as a conduit between the US and the mainland. Hong Kong, he stressed, is an important base especially for Americans who live in the city and work in the Pearl River Delta (PRD), southern China, where most of the manufacturing facilities are located.

"Hong Kong is an independent economy with its own possibilities and is important to us on a bilateral level," he said. "In the PRD, Hong Kong is clearly the lead player at the moment and a major headquarters for US companies in the region. Certainly, the Cepa free trade pact is an attraction for business people who may want to manufacture in Hong Kong and still have access to southern China."

Mr Maisano added that Hong Kong is in a "very fluid and dynamic situation" right now. Border trade with the mainland is on the rise and with the Chinese currency reminbi being fully traded, Hong Kong is now an important RMB centre, he said.

Level playing field

Mr Maisano, who had previously lived and worked in Hong Kong for 25 years before returning to take up his current position, said the city is always moving and adapting. "I believe in the dynamics of Hong Kong: its level playing field, low taxes, ability to get things done, access to IT, the free flow of information, and its sound legal and financial structures. I see Hong Kong people and the press speaking up and recognising that these are real benefits and pluses."

He said that five years ago when he joined the New York-based China Institute (which fosters appreciation of Chinese culture in the US), there were about 1,000 US companies in Hong Kong.

"Now, there are about 1,100 companies with 55,000 Americans living and working here. The DNA of doing business is still the same. Hong Kong is very accommodating and helpful to people wanting to do business here. These are positive trends which are crucial to Hong Kong and crucial to the American participation in the Hong Kong experience."

Related links
AmCham
Cepa