Latest Development of Hong Kong Under the New Term Government

1. 1
Ms Erica Ng
Director-General, Hong Kong Economic and Trade Office, London
Latest Development of Hong Kong
under the New-term Government
21 August 2013

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Basic FactsBasic Facts
Location: At the southern tip
of China
Population: 7.1 million
Size: 1,100 sq. km
Three quarters is countryside
Returned to China in 1997
“One Country Two Systems”

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4. Chief Executive of the Hong KongChief Executive of the Hong Kong
Special Administrative RegionSpecial Administrative Region – Mr C Y Leung– Mr C Y Leung

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Core Strengths of Hong KongCore Strengths of Hong Kong
under “One Country Two Systems”under “One Country Two Systems”
Rule of law –
Common law jurisdiction
Simple and low taxes -
Profits tax: 16.5%
No VAT
No capital gains tax
Level-playing field for all
businesses
Separate immigration regime –
No visa requirements for
Swedish visitors
Freedom of speech
Clean government
Excellent connections with
China and Asia

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8. Hong Kong’s AchievementsHong Kong’s Achievements
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 Freest economy for 19 consecutive years
 Third largest recipient of FDI in the world
 GDP growth in 2012: 1.4%
 GDP growth in first half of 2013: 3.1%
 GDP growth forecast for 2013: 2.5% - 3.5%
 Per capita GDP in 2012: USD 36,550
 Unemployment rate in 2012: 3.3%
 Major international financial, trading, business and logistics
centre
 Ideal gateway to enter China and Asia

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TradeTrade
Value of Hong Kong’s
imports in 2012:
USD 501 billion, or 1.9 times
of Hong Kong’s GDP
Imports from Sweden in
2012:
USD 479 million, mainly
measuring and checking
instruments, chemical
products, and
telecommunications
equipment

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Closer Economic Partnership Arrangement (CEPA)Closer Economic Partnership Arrangement (CEPA)
with Mainland Chinawith Mainland China
Free trade agreement with
Mainland China
Tariff-free access to
Chinese market for Swedish
companies established in
Hong Kong
Entry to services sectors in
Mainland China
New Hong Kong Economic
and Trade Office in Wuhan

11. Financial ServicesFinancial Services
11
Largest Renminbi offshore
business centre –
Over 90% of China’s RMB trade
settlement handled by banks in
Hong Kong
2nd
largest asset management
centre in Asia
6th
largest stock exchange in the
world, 2nd
largest in Asia
70 out of top 100 global banks
present in Hong Kong

12. International Maritime CentreInternational Maritime Centre
12
International maritime
centre
Leading hub port in East
Asia
Third largest container port
in the world (23 million TEUs
in 2012)
Superb airport and
efficient land boundary
crossings and transport
facilities

13. Environmental ProtectionEnvironmental Protection
13
SEK 8.4 billion in subsidies to
phase out more than 80,000
old, polluting diesel
commercial vehicles in Hong
Kong
SEK 420 million to build
electrical and electronic
recycling facilities as well as
five community recycling
centres
Organic waste treatment
facility

14. Infrastructure ProjectsInfrastructure Projects
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15. Kai Tak Cruise Terminal
15
West Kowloon Cultural District
Hong Kong – Zhuhai – Macao Bridge
SEK 59 billion each year
on infrastructure projects
in Hong Kong

16. West Kowloon Cultural DistrictWest Kowloon Cultural District
16

17. Sweden and Hong KongSweden and Hong Kong
17
Bilateral trade in 2012:
SEK 9.6 billion
Swedish companies in Hong Kong: IKEA,
H&M, Volvo, Scania, SEB, Electrolux etc
Stockholm’s underground train system
run by a Hong Kong company, MTR
High-level visits between Hong Kong
and Sweden
Sustainability Charter between Hong
Kong and Malmö in 2011

18. Support from Hong KongSupport from Hong Kong
18
 Official representative:
Hong Kong Economic and Trade Office, London
www.hketolondon.gov.hk
Ms Erica Ng, erica_ng@hketolondon.gov.hk
Mr Dennis Ching, dennis_ching@hketolondon.gov.hk
 Trade support, business matching:
Hong Kong Trade Development Council
www.hkdc.com
Ms Madelene Kornfehl, madelene.kornfehl@hk-sweden.org
 Setting up business in Hong Kong:
Invest Hong Kong
www.investhk.gov.hk
Mr Mats Gerlam, mgerlam@investhk.com.hk

19. Support from Hong KongSupport from Hong Kong
19
For technology and start-up companies:
Hong Kong Science and Technology Park
www.hkstp.org
Mr Björn Segerblom, bjorn@segerblom.net
For visitors:
Hong Kong Tourism Board
www.discoverhongkong.com
Ms Dawn Page, dawn.page@hktb.com

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Royal Sweden Hong Kong Business Council
www.hongkong.se
Mr Björn Segerblom, bjorn@segerblom.net
Swedish Chamber of Commerce in Hong Kong
www.swedcham.com.hk
Ms Eva Karlberg, chamber@swedcham.com.hk
Support from Hong KongSupport from Hong Kong

21. Quality of LifeQuality of Life

22. Green Hong KongGreen Hong Kong

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Thank you and see you in Hong Kong!Thank you and see you in Hong Kong!

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Ms Erica Ng
Director-General, Hong Kong Economic and Trade Office, London
Latest Development of Hong Kong
under the New-term Government
21 August 2013