STH's luncheon speech in Singapore *********************************
|
|
- Bernard Cook
- 7 years ago
- Views:
Transcription
1 STH's luncheon speech in Singapore ********************************* Following is a speech delivered by the Secretary for Transport and Housing, Ms Eva Cheng, at the luncheon co-organised by the Hong Kong Economic and Trade Office in Singapore and the Hong Kong-Singapore Business Association today (November 14) on "A Transportation and Logistics Hub - Investing in the Future". Friends, ladies and gentlemen, Good afternoon. It is a great pleasure to be back in Singapore meeting old friends and making new ones. I came here as the Commissioner for Tourism on my last official visit, and soon after the visit Hong Kong rapidly recovered from SARS. I am delighted to have the opportunity to return to Singapore this time as Hong Kong's Secretary for Transport and Housing, hopefully too we will be able to see an uptrend from the existing downturn soon after this visit. The past few months have been a difficult time for many economies around the world. The financial tsunami has spread from the US to Europe and other parts of the world, including Asia. Hong Kong is not immune from this global process. Although our financial markets are unavoidably affected by the financial turmoil, our banking sector overall remains healthy and robust, with local banks' capital adequacy ratio well above international requirements. Our property market has also remained calm, though we are seeing some orderly downward adjustment in housing prices which reflects the operation of market forces. That said, we understand that we must remain vigilant, and should take every opportunity to reinforce our strong fundamentals that underpin our success, with a view to riding out from the current storm and emerging even more competitive. Our Chief Executive in his Policy Address last month announced the establishment of a Task Force on Economic Challenges. The aim is to assess the impact of
2 the global financial crisis on Hong Kong's economy and its industries, and propose specific options for the Government and business community to address the challenges as well as to identify new business opportunities. In addition, our Financial Secretary has introduced a number of measures to reinforce our financial infrastructure. Two days ago we announced another HKD$10 billion package to provide additional guarantees for SME loans. We are fully confident that our strong fundamentals, which include our commitment to competition and free-market economy, sound regulatory framework and prudent risk management by financial institutions, will stand us in good stead in tackling the current crisis. Today I will share with you how our strong fundamentals have helped Hong Kong maintain her position as a transportation and logistics hub in the region during these turbulent times, and what we are doing to strengthen our competitiveness. Hong Kong - a Leading Transportation and Logistics Hub The trade and logistics sector is a pillar of Hong Kong's economy. The sector contributes towards 27% of our GDP and provide jobs for one-in-four of our workforce. We operate one of the busiest ports in the world handling an all-time high of 24 million TEUs last year. Our international airport has also been the world's busiest for international air cargo since 1996 and last year handled more than 3.7 million tonnes of air cargo. Each week there are about 5,800 flights to 155 destinations, and 450 container liner sailings between Hong Kong and more than 500 destinations worldwide. Last year, about a quarter of the Mainland's international trade routed through Hong Kong, worth some US$525 billion. I believe that a combination of key factors have made Hong Kong a leading transportation and logistics hub in the region. It is easy to forget the fundamentals that have brought us thus far. I was pleasantly reminded of how important it is to maintain
3 our competitive advantages when I read Professor Michael Porter (the Harvard competitiveness guru)'s cover story in Business Weeks's last issue. He wrote a critique on America's economic strategy and used three indicators to judge its long term competitiveness: openness to capital flows, low trade barriers and absence of distortions from taxes and subsidies. Of these three indicators, Hong Kong was top of the list. In addition, we also enjoy strategic location. We are at the heart of East and Southeast Asia, and right at the mouth of the Pearl River Delta. We are within four hours' flying time to all the major cities in Asia Pacific. We also have a customs regime that is highly efficient and user-friendly. It operates round the clock to provide the best possible service to the industry. Challenges Ahead The global financial crisis is undoubtedly the most imminent challenge to us. As a small and externally oriented economy, our transportation and logistics sector is particularly sensitive to the global market. Any drop in world demand or more cautiousness among exporters in accepting orders fuel uncertainty for the sector. We have already seen a decline in air cargo throughput in August and September this year. Fortunately we have been cushioned against the impact of the global financial crisis by our positioning vis-a-vis Mainland China and intra-asia trade. Given our strengths, 70% of passengers and 50% of air cargo flying to and from our airport are traffic between Hong Kong and Mainland China and other Asian destinations. This strong intra-asia network advantage, coupled with unconstrained air cargo access and much expanded passenger links to points on the Mainland, as well as liberal air services arrangements with most of our Asian neighbours, will continue to serve us well in the difficult times ahead.
4 On the sea cargo front, among the South China ports, Hong Kong Port has the most frequent intra-asia shipping schedule, and around two-thirds of the containers handled by our port are cargoes originated from or destined for the Mainland and other Asian economies. This should give us some cushion against the prevailing storm. In fact, hub ports like Singapore and Hong Kong may fare better in the short term during this crisis with consolidation of shipping schedules in face of global export decline. With the growth in the domestic demand of the Mainland China which is expected to contribute to a GDP growth of 8-9% in 2009 and with Asia relatively less hard hit by the financial tsunami, this would provide an important source of stability to the world economy and to Hong Kong. While strong intra-asia trade will provide some cushioning effect, we recognise that we are facing increasingly fierce competition from neighbouring ports and airports, particularly from those in the Pearl River Delta region. This is especially the case now that direct flights between Taiwan and the Mainland are due to increase from 36 flights per week to 108 flights per week, covering a total of 21 cities on the Mainland. Also, we need to watch closely the impact of the development that 63 Mainland ports are to be opened for direct sea links with Taiwan very shortly. While we strongly believe that closer economic cooperation between Mainland China and Taiwan will bring much benefit to the region, we are mindful of the need to strengthen our competitiveness in order to gain from the new landscape. So how do we embrace these challenges and at the same time remain competitive and alert to the opportunities that await? The answer in part, I believe, lies in investing in the future. Investing in the Future We are determined to make substantial investment in
5 transport infrastructure projects which are strategic to maintaining our hub status. The Central Government in Beijing has also pledged its full support towards Hong Kong including fast-tracking infrastructure projects that straddle the boundary between Hong Kong and the Mainland. These projects are already in the implementation stage. They will change the meaning of connectivity between Hong Kong and the Pearl River Delta Region. These projects include the massive Hong Kong-Zhuhai- Macao Bridge, whose main body is about 30 kilometres long, 6.7km of which is an immersed tunnel. This three-lane dual carriageway will run across the major navigation channels in the Pearl River Delta. The bridge will cost about RMB37.6 billion. Earlier this year, the governments involved agreed on the financing arrangement for the bridge. We expect that construction will begin no later than When it opens, it will take only about 20 minutes to get to Zhuhai from our airport. With the bridge, the Western Pearl River Delta will fall within a reachable three-hour commuting radius of Hong Kong, allowing us to tap even more efficiently into the 50 million customer base in the Pearl River Delta. We are also looking at ways to encourage the usage of the bridge through reform of the regulatory regime for cross boundary vehicles. Another exciting project is the Guangzhou-Shenzhen-Hong Kong Express Rail Link, which will connect Hong Kong with the Mainland's national high-speed railway network. It will enable travellers to go from Hong Kong to Guangzhou in less than 50 minutes, to Wuhan in five hours, and to Shanghai and Beijing in about eight and 10 hours respectively. We expect to start construction of the Hong Kong section of this 140-kilometre link next year and the project cost is about HK$39.5 billion. This high speed railway will enable Hong Kong to connect to all the key strategic railways in China. Both projects are expected to yield about 9% economic return, and will provide about 25,000 job opportunities during
6 their construction and operation. Their timely implementation will facilitate our economic co-operation with the Pearl River Delta, and reinforce Hong Kong's position as a premier gateway to the Mainland. In addition to cross-boundary infrastructure, we will also enhance the capacity of our airport and ports and strengthen our internal logistics network. In co-operation with the Airport Authority Hong Kong, we are actively pursuing the airport midfield expansion project and the third runway proposal. A new air cargo terminal project awarded earlier this year will increase the annual cargo handling capacity of the airport by 2.6 million tonnes. With regard to port expansion, we are looking for the right location for Container Terminal 10, which may be required as early as To fully leverage on the advantages to be brought about by such strategic infrastructure, we will begin other local transportation projects that will cut short the travelling time of goods and commuters within the territory. In parallel with hard infrastructure development, we will continue to develop the required software, particularly in the expansion of our aviation network, nurturing fresh talent and IT development. On aviation, we are encouraged by the progressive liberalisation in air services regime between Hong Kong and our aviation partners. We are determined to press ahead on this front. My aviation team will expedite the process through a structured programme of talks with our aviation partners. In meeting the demand for skilled labour in the industry, Hong Kong has an open and liberal regime towards the admission of talent. We welcome people from around the world who possess valuable skills, knowledge or experience to work and
7 live in Hong Kong. We have much to learn from Singapore. Hong Kong introduced the Quality Migrant Admission Scheme in 2006 to attract talented people to enter and settle in Hong Kong without first securing an offer of local employment. We also devote considerable resources in the education and training of transportation and logistics manpower. For example, we are developing a tailor-made training programme for frontline freight forwarding staff together with the industry. And on IT advancement, we are exploring areas to further improve and streamline services. We have participated in the E-freight Pilot Project of the International Air Transport Association in processing air cargo data electronically. We are also running a pilot study on the On-board Trucker Information System to improve fleet management. Concluding Remarks Ladies and gentlemen, I have just highlighted some of the challenges we are facing in Hong Kong and how we intend to overcome them. The Chief Executive's Policy Address 2008 has reaffirmed our commitment to pursuing strategic infrastructure. These projects will enhance our competitiveness, create jobs, and inject energy into our economy. Indeed, in the past two sessions, our Legislative Council has approved funding for almost 180 capital works projects worth nearly US$12 billion (HK$95 billion). We are confident that investing in infrastructure and strengthening our transportation and logistics capabilities will not only help us ride out the current financial storm, but also pave the way for sustainable development and an even brighter future. Thank you. Ends/Friday, November 14, 2008
Opening Remarks at Business Seminar Hong Kong: Seize Now Your Opportunities for Business in China and Beyond
Opening Remarks at Business Seminar Hong Kong: Seize Now Your Opportunities for Business in China and Beyond co-organised by HKETO(Sing) and THTA on 27 October 2009 at Conrad Hotel, Bangkok, Thailand Your
More informationThe Economic Outlook of Hong Kong. in the Context of China s 12th Five-Year Plan
The Economic Outlook of Hong Kong in the Context of China s 12th Five-Year Plan A Speech by Dr Victor Fung to the Students and Professionals at Savantas Liberal Arts Academy 匯 賢 智 庫 學 苑 on 21 May 2011
More informationTHE BRITISH CHAMBER OF COMMERCE POSITION PAPER ON THE AIR FREIGHT INDUSTRY IN HONG KONG
Executive Summary THE BRITISH CHAMBER OF COMMERCE POSITION PAPER This paper sets out the views of the British Chamber on Hong Kong s Air Freight sector - for consideration by the Hong Kong government.
More informationThird Runway is Key to Hong Kong s Competitiveness. Professor Anthony Cheung Bing-leung Secretary for Transport and Housing
Third Runway is Key to Hong Kong s Competitiveness Professor Anthony Cheung Bing-leung Secretary for Transport and Housing Over the past decade, passenger number and cargo tonnage at the Hong Kong International
More informationHong Kong: the premier gateway for doing business in China and Asia
Hong Kong: the premier gateway for doing business in China and Asia Miss Gloria Lo Director of Hong Kong Economic and Trade Office 23 May 2012 Hong Kong Economic and Trade Office (Toronto) 1 Hong Kong
More informationHong Kong: Gateway to China for Estonian Businesses
Hong Kong: Gateway to China for Estonian Businesses Mrs Agnes ALLCOCK, Director-General Hong Kong Economic and Trade Office (London) 2 June 2011 1 Hong Kong: The Latest Economic Situation Real GDP Growth:
More informationLegislative Council Panel on Commerce and Industry. The 15 th Working Meeting of the Hong Kong/Guangdong Co-operation Joint Conference
LC Paper No. CB(1)2737/09-10(01) For Information Legislative Council Panel on Commerce and Industry The 15 th Working Meeting of the Hong Kong/Guangdong Co-operation Joint Conference Purpose This paper
More informationThink Asia Think Hong Kong, Paris Hong Kong: Asia s Premier Asset and Wealth Management Centre 28 October 2014
Think Asia Think Hong Kong, Paris Hong Kong: Asia s Premier Asset and Wealth Management Centre 28 October 2014 Keynote Address by the Hon Mrs Laura Cha Chairman of Financial Services Development Council,
More informationECONOMIC CONTRIBUTION
ECONOMIC CONTRIBUTION HKIA works around the clock to support Hong Kong s role as a financial, logistics and transportation hub by connecting the city, the PRD and Southeast Asia through its large network
More informationHong Kong: The Gateway to China InvestHK; Strengthening Hong Kong s Leading Position in Asia Cambridge, Thursday May 3 rd 2012
Welcome to Hong Kong Hong Kong: The Gateway to China InvestHK; Strengthening Hong Kong s Leading Position in Asia Cambridge, Thursday May 3 rd 2012 David Parker, Head of Investment Promotion About InvestHK
More informationDevelopment of Shanghai Integrated Transport (2010-2015) XIAO Hui and GU Yu
Development of Shanghai Integrated Transport (2010-2015) XIAO Hui and GU Yu Abstract This article summarises the general situation of Shanghai s integrated transport system and then determines the trends
More informationADVANTAGES OF INCORPORATING A TRADING COMPANY IN HONG KONG AND STRUCTURING CHINA INVESTMENTS VIA HONG KONG
ADVANTAGES OF INCORPORATING A TRADING COMPANY IN AND STRUCTURING INVESTMENTS VIA Map of Guangdong province, China, and Hong Kong, SAR INCORPORATING A TRADING COMPANY IN & AT A SNAPSHOT CATEGORY Incorporating
More informationMaritime and Civil Aviation
inserts in December 2010 and December 2011 respectively, the regulatory regime of Chinese medicines has been fully implemented. In recent years, Chinese medicine has been developing along the direction
More informationAir China Limited Announces 2013 Annual Results
Air China Limited Announces 2013 Annual Results Hong Kong March 26, 2014 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;
More informationLatest Developments in Logistics in Hong Kong and Related Matters
Latest Developments in Logistics in Hong Kong and Related Matters CB(1)1952/08-09(02) Introduction This paper provides information requested by the Legislative Council Panel on Economic Development on
More informationSpeech by Mr Rimsky Yuen, SC, Secretary for Justice of the Hong Kong SAR at the Seminar on Legal and Dispute Resolution: Key for International Trade
Speech by Mr Rimsky Yuen, SC, Secretary for Justice of the Hong Kong SAR at the Seminar on Legal and Dispute Resolution: Key for International Trade on 17 September 2015 in Jakarta, Indonesia Dr. (Cita)
More informationAsset Management Industry Development in Hong Kong, Singapore and China
Asset Management Industry Development in Hong Kong, Singapore and China by Terence Chong Vivian Wong Working Paper No. 7 March 2012 Institute of Global Economics and Finance The Chinese University of Hong
More informationRecommendations of the Board of Trade of Metropolitan Montreal to the Government of Canada for the 2016 federal budget
Recommendations of the Board of Trade of Metropolitan Montreal to the Government of Canada for the 2016 federal budget July 2015 1 Preamble The Board of Trade of Metropolitan Montreal (the Board of Trade)
More informationS I N G A P O R E C U S T O M S
EMBARGOED UNTIL DELIVERY PLEASE CHECK AGAINST DELIVERY S I N G A P O R E C U S T O M S SPEECH BY MRS LIM HWEE HUA, MINISTER OF STATE FOR FINANCE AND TRANSPORT, AT THE LAUNCH OF SECURE TRADE PARTNERSHIP
More informationFurther Developments of Hong Kong s Offshore RMB Market: Opportunities and Challenges
Further Developments of Hong Kong s Offshore RMB Market: Opportunities and Challenges Zhang Ying, Senior Economist In recent years, as the internationalization of the RMB has been steadily carrying out,
More informationHong Kong as an international financial centre
Hong Kong as Asia s World City The Basic Law also provides for Hong Kong to continue its independent currency system, under which designated banks are authorised to issue local banknotes. Hong Kong as
More informationLegislative Council Panel on Economic Services
For discussion on 25 January 1999 Legislative Council Panel on Economic Services PROMOTION OF HONG KONG AS AN INTERNATIONAL SHIPPING CENTRE Purpose This paper aims to inform members of a series of new
More informationHang Seng Bank 2008 Results Announcement Speech by Mr Raymond C F Or Vice-Chairman and Chief Executive 2 March 2009
Hang Seng Bank 2008 Results Announcement Speech by Mr Raymond C F Or Vice-Chairman and Chief Executive 2 March 2009 Good afternoon, ladies and gentlemen. Welcome to Hang Seng s 2008 results announcement.
More informationEUROPEAN AIRPORTS AND TOURISM ORGANISATIONS TOGETHER ON OPEN SKIES
EUROPEAN AIRPORTS AND TOURISM ORGANISATIONS TOGETHER ON OPEN SKIES 1 Over the past months, the expansion of Gulf airlines in particular Emirates, Etihad Airways and Qatar Airways into the North American
More informationTHE MAINLAND 21.9 % +45.7 % BUSINESS ON
DIRECTION EXPANDING HORIZONS 58 HANG SENG BANK ANNUAL REPORT 2011 MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS ON THE MAINLAND Our mainland China business recorded encouraging growth in 2011 as we successfully
More informationBuilding a Logistics/Supply Chain Hub The Singapore Experience. Hum SinHoon NUS Business School National University of Singapore
Building a Logistics/Supply Chain Hub The Singapore Experience Hum SinHoon NUS Business School National University of Singapore BACKGROUND Singapore Rankings World Business Environment Rank Country Total
More informationSpeech Speech by SFST at Hong Kong Investment Funds Association 9th Annual Conference (English only) Friday, October 30, 2015
Speech Speech by SFST at Hong Kong Investment Funds Association 9th Annual Conference (English only) Friday, October 30, 2015 Following is the speech by the Secretary for Financial Services and the Treasury,
More informationINFORMATIONTECHNOLOGYSERVICESINDUSTRYINHONGKONG
INFORMATIONTECHNOLOGYSERVICESINDUSTRYINHONGKONG Overview The information technology(it) sector of Hong Kong is among the most advanced in the world. According to the World Economic Forum's Networked Readiness
More informationBusiness Confidence Survey
Business Confidence Survey German Business in China 2014 Press Release ABOUT THE SURVEY The German Chamber Business Confidence Survey has been conducted annually since 2011. It is a key gauge measuring
More informationAn offshore RMB market The Hong Kong story Keynote speech 4th Offshore RMB Markets Conference
Speech An offshore RMB market The Hong Kong story Keynote speech 4th Offshore RMB Markets Conference Alexa Lam Deputy Chief Executive Officer Securities and Futures Commission 13 March 2014 Ladies and
More informationSpeech. Speech by SFST at Alternative Investment Management Association in Asia 2016 (English only) Thursday, January 21, 2016
Speech Speech by SFST at Alternative Investment Management Association in Asia 2016 (English only) Thursday, January 21, 2016 Following is the speech by the Secretary for Financial Services and the Treasury,
More informationInternal Audit and supervisory expectations building on progress
1 Internal Audit and supervisory expectations building on progress Speech given by Sasha Mills, Director, Cross Cutting Policy, Bank of England Ernst & Young, London 3 February 2016 2 Introductions Hello,
More informationLegislative Council Panel on Commerce and Industry. Hong Kong/Shanghai Economic and Trade Cooperation Conference
For Information Legislative Council Panel on Commerce and Industry Hong Kong/Shanghai Economic and Trade Cooperation Conference Purpose This paper briefs Members on the major outcome of the Hong Kong/Shanghai
More informationFocus on China Market and Pursue Sustainable Value Growth
Focus on China Market and Pursue Sustainable Value Growth (Beginning) Distinguished guests, ladies and gentlemen: Good morning. I 'm Wu Zongmin, from China Pacific Property Insurance Company Limited (CPIC
More informationUnleash Hong Kong s potential Think Asia, Think Hong Kong
Unleash Hong Kong s potential Think Asia, Think Hong Kong Hong Kong-Canada bilateral trade relations Hong Kong - one of the priority markets of Canada announced by the federal government in 2013 Hong Kong
More informationHow To Strengthen The Relationship Between Hong Kong And The Mainland
Legislative Council Panel on Commerce and Industry 2013 Policy Address Policy initiatives of Constitutional and Mainland Affairs Bureau in relation to Mainland and Taiwan co-operation This paper briefs
More informationGoing local and engaging with the world. Finnair. Maarit Keränen
Going local and engaging with the world Finnair Maarit Keränen Finnair Who we are More than 8.7 million passengers and 2.4 billion EUR in revenue in 2012 Modern, fuel efficient and streamlined fleet Member
More informationChina: Trade Facilitation Reform and Economic Development
China: Trade Facilitation Reform and Economic Development Zhang Yansheng Institute for International Economic Research National Development and Reform Commission Development of China s international trade
More informationWhy infrastructure is so important
Maersk in Brazil Brazil is a key growth market for Maersk. We share a common interest with Brazil in promoting economic development, national competitiveness and prosperity for Brazil s population. Since
More informationHong Kong Information Technology Federation
HKITF Response to the Consultation on Mainland / Hong Kong Closer Economic Partnership Arrangement 1. The Hong Kong Information Technology Federation (HKITF) strongly supports the effort of the Hong Kong
More informationEddie Yue: Renminbi a new era and the role of Hong Kong
Eddie Yue: Renminbi a new era and the role of Hong Kong Keynote address by Mr Eddie Yue, Deputy Chief Executive of the Hong Kong Monetary Authority, at the Global Offshore RMB Funding Forum 2012, Hong
More informationProject Management International Conference 2003 4 December 2003. K K Yeung, Vice Chairman Hong Kong General Chamber of Commerce
Project Management International Conference 2003 4 December 2003 K K Yeung, Vice Chairman Hong Kong General Chamber of Commerce The Knowledge Economy and the CEPA Master Project Mr. Alan Wong, Miss Patty
More informationGood afternoon, Dr Khoo Kah Siang, President of the Life Insurance Association, distinguished
"A Safe, Vibrant and Purposeful Life Insurance Industry" - Keynote Address by Guest of Honour Ms Loo Siew Yee, Executive Director, Monetary Authority of Singapore at the Life Insurance Association Singapore
More informationChina Railways Development, Financing and Challenges
China Railways Development, Financing and Challenges Zhang, Jianping Depart. of Development & Planning Ministry of Railway, P. R. China March 31, 2006 Transport Forum, World Bank 1. Current Situation of
More informationTrends and Challenges in the Logistics Industry. Karl Gernandt Chairman, Kuehne + Nagel International AG January 17, 2013
Trends and Challenges in the Logistics Industry Karl Gernandt Chairman, Kuehne + Nagel International AG January 17, 2013 2012 Global Economy Impact on logistics Shipping crisis via rate decline and capital
More informationHead 79 INVEST HONG KONG
Controlling officer: the Director-General of Investment Promotion will account for expenditure under this Head. 2016 17... $128.2m Establishment ceiling 2016 17 (notional annual mid-point salary value)
More informationSpeech by the Taoiseach, Mr. Enda Kenny T.D. Ireland: Economic Recovery and the EU Presidency Stability, Jobs & Growth
Speech by the Taoiseach, Mr. Enda Kenny T.D. Ireland: Economic Recovery and the EU Presidency Stability, Jobs & Growth at the London School of Economics Check against delivery Good afternoon, Ladies and
More informationHong Kong: - The Food & Wine Trading Centre in Asia - The Logistics Hub in Asia. Bonnie Shek Director, Australia / New Zealand
Hong Kong: - The Food & Wine Trading Centre in Asia - The Logistics Hub in Asia Bonnie Shek Director, Australia / New Zealand 1 Hong Kong as a Food Trading Hub of Asia Overtaken the U.S. as the largest
More informationLegislative Council Panel on Economic Services. Training to Meet the Manpower Need in the Maritime Industry
CB(1)1383/06-07(03) For discussion on 23 April 2007 Legislative Council Panel on Economic Services Training to Meet the Manpower Need in the Maritime Industry Purpose This paper briefs Members on the measures
More informationSpeech by Mr Frank Poon, JP Solicitor General of the Hong Kong Special Administrative Region. Hong Kong to India Road Show February 2013
Speech by Mr Frank Poon, JP Solicitor General of the Hong Kong Special Administrative Region Hong Kong to India Road Show February 2013 Distinguished guests, ladies and gentlemen, It is a great pleasure
More informationThe Australian Capital Territory in the Asian Century
The Australian Capital Territory in the Asian Century August 2013 SUMMARY The Australian Government s Australia in the Asian Century White Paper has given added impetus to action the ACT government is
More informationSTH heads maritime delegation to Europe STH responds to 2014 Xinhua-Baltic Exchange International Shipping Centre Development Index Report
STH heads maritime delegation to Europe The Secretary for Transport and Housing, Professor Anthony Cheung Bing-leung, led a Hong Kong Maritime Industry Council delegation to Europe on June 1 to promote
More informationOPENING UP OF THE AIR TRANSPORT MARKET IN GREECE UNDER LIBERALIZATION. (Submitted by Greece)
February 2003 English and French only OPENING UP OF THE AIR TRANSPORT MARKET IN GREECE UNDER LIBERALIZATION (Submitted by Greece) 1. INTRODUCTION 1.1 Until 1991, Greek air transport had developed within
More informationHong Kong Companies. Their benefits for international investments, asset protection and market entry to China
Hong Kong Companies Their benefits for international investments, asset protection and market entry to China Presentation at the TaxPro 2013 Conference February 12, 2013 Kiev, Ukraine By Henning Schwarzkopf,
More informationSOUTH EAST EUROPE TRANSNATIONAL CO-OPERATION PROGRAMME. Terms of reference
SOUTH EAST EUROPE TRANSNATIONAL CO-OPERATION PROGRAMME 3 rd Call for Proposals Terms of reference Efficient access to a SEE coordinated multimodal freight network between ports and landlocked countries
More informationNorwegian UK set to takeoff as airline is granted UK Air Operating License
Norwegian UK set to takeoff as airline is granted UK Air Operating License New Norwegian UK subsidiary will open the door for further UK expansion and potential new routes to Asia, South America and South
More informationTRENDS IN IRISH TOURISM. A report for Dublin Port Company Limited
TRENDS IN IRISH TOURISM A report for Dublin Port Company Limited February 2011 SECTION 1 RECENT TRENDS IN IRISH TOURISM Economic Significance of Tourism Since 2007 the growth dynamic of the Irish economy
More informationAir China Limited Announces 2014 Annual Results
Air China Limited Announces 2014 Annual Results Hong Kong March 26, 2015 Air China Limited ( Air China or the Company, together with its subsidiaries, collectively the Group ) (HKEX: 00753; LSE: AIRC;
More informationCHINA LIFE INSURANCE COMPANY LIMITED ANNOUNCES 2014 ANNUAL RESULTS (H SHARE)
For Immediate Release CHINA LIFE INSURANCE COMPANY LIMITED ANNOUNCES 2014 ANNUAL RESULTS (H SHARE) HONG KONG, 24 March 2015 China Life Insurance Company Limited (SSE: 601628, SEHK: 2628, NYSE: LFC) today
More informationLNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39
LNG Poised to Significantly Increase its Share of Global Gas Market David Wood February 2004 Petroleum Review p.38-39 For the past few years LNG has experienced high levels of activity and investment in
More informationFLIGHT PATH TO GROWTH THE CASE FOR INCREASING LONDON S AIR CAPACITY
FLIGHT PATH TO GROWTH THE CASE FOR INCREASING LONDON S AIR CAPACITY THE PROBLEM WHY DO WE NEED TO FLY? The UK is the world s second-largest exporter of services and the sixth-largest exporter of goods.
More informationPress release. Wednesday, October 26, 2011
Press release LCQ6: Central Government's measures to implement the RQFII scheme and support Hong Kong's insurance companies to enter the Mainland market Wednesday, October 26, 2011 Following is a question
More informationInternational Civil Aviation Organization WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING. Montréal, 18 to 22 March 2013
International Civil Aviation Organization WORKING PAPER ATConf/6-WP/88 4/3/13 English only WORLDWIDE AIR TRANSPORT CONFERENCE (ATCONF) SIXTH MEETING Montréal, 18 to 22 March 2013 Agenda Item 2: Examination
More informationLEGISLATIVE COUNCIL PANEL ON ENVIRONMENTAL AFFAIRS. Promoting Green Economy. 2. Follow-up questions raised by Members are as follows:
CB(1) 2860/10-11(01) For information Introduction LEGISLATIVE COUNCIL PANEL ON ENVIRONMENTAL AFFAIRS Promoting Green Economy The Administration issued an information paper on 23 May 2011 highlighting our
More informationChina (Shanghai) Pilot Free Trade Zone
China (Shanghai) Pilot Free Trade Zone A New Era of Opening up and Reform in China www.pwccn.com What is the China (Shanghai) Pilot Free Trade Zone? On 29 September, 2013, the Chinese government formally
More information+20. Outsourcing feature STEPHEN MALLON/GETTY IMAGES
+20 Outsourcing feature STEPHEN MALLON/GETTY IMAGES [ 20 ] A Plus + September 2007 Outsourcing to Asia Business outsourcing to Asia is a fast growing trend what does this mean for Hong Kong accountants?
More informationHow To Address The 53Rd Assembly Of Presidents Of The Association Of Pan-East Asian Airlines
1 OPENING SPEECH OF MR. ANDREW HERDMAN, DIRECTOR GENERAL OF THE ASSOCIATION OF ASIA PACIFIC AIRLINES Mrs Lim Hwee Hua, Minister (Prime Minister s Office) & Second Minister for Finance & Transport, Singapore
More informationHow To Make Money From The Hong Kong To Turkstan
Hong Kong s Advantages as a Business Platform, Helping Turkish Companies Tap the Chinese Mainland Keynote speech at the Four Seasons Bosphorus Hotel Dr Victor Fung Istanbul, 25 June 2011 Mr Rona Yircali,
More informationMr Zhao (Dacheng), distinguished guests, ladies and gentlemen,
Speech by SJ at opening ceremony of Hong Kong Legal Services Forum in Shanghai (with photos) *************************************************************************** Following is the translation of
More informationGlobal Marine Trends 2030
Global Marine Trends 2030 Global Marine Trends 2030 A Positive Marine World in 2030 Optimism is a strategy for making a better future. Because unless you believe that the future can be better, you are
More informationMinistry of Small Business,Technology and Economic Development
Ministry of Small Business,Technology and Economic Development 2 BRITISH COLUMBIA S TRADE AND INVESTMENT STRATEGY FOR CHINA Why China is Important to British Columbia China is the world s fourth largest
More informationChina's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers
China's Aviation Sector - Overview, Current Trends & Opportunities for European Suppliers China Civil Aviation Report Uniworld, LLC/Francis Chao September 6, 2005. Dublin, Ireland Before 1978, It was a
More informationPaN asia LOgiStiCS. Pan Asia Logistics targets. AsIA. growth. 48 WWW.AsIAOuTLOOkMAg.COM
PaN asia LOgiStiCS Pan Asia Logistics targets AsIA growth 48 WWW.AsIAOuTLOOkMAg.COM s u p p l y c h a i n Asia Outlook profiles Pan Asia Logistics, a preferred air and ocean freight forwarder and logistics
More informationBahrain-at the heart of the Gulf. Centrally Located and Regionally Connected Business Friendly Environment Economic Advantages Cosmopolitan Lifestyle
Bahrain-at the heart of the Gulf Centrally Located and Regionally Connected Business Friendly Environment Economic Advantages Cosmopolitan Lifestyle Centrally Located An island similar in size to Singapore
More informationThe Importance of Corporate Governance for an International Financial Centre
The Importance of Corporate Governance for an International Financial Centre Eddy Fong Chairman 9 September 2008 Good morning ladies and gentlemen. I would like to start by congratulating the Chamber of
More informationHong Kong Economic Update MAY 2014
Hong Kong Economic Update MAY 2014 Summary Economy Hong Kong s economy grew 2.5 per cent (year-on-year) in the first quarter. This is the slowest quarterly growth in 18 months and is lower than the market
More informationHead 79 INVEST HONG KONG
Controlling officer: the Director-General of Investment Promotion will account for expenditure under this Head. 2014 15... $115.0m Establishment ceiling 2014 15 (notional annual mid-point salary value)
More informationChallenge Melbourne ISSUES IN METROPOLITAN PLANNING FOR THE 21ST CENTURY
Challenge Melbourne ISSUES IN METROPOLITAN PLANNING FOR THE 21ST CENTURY MINISTERS FOREWORD The planning of Melbourne s future presents many challenges and opportunities. We could let matters take their
More informationLegislative Council Panel on Commerce and Industry. Trade Relations between Hong Kong and Taiwan
LC Paper No. CB(1)57/12-13(04) For information Legislative Council Panel on Commerce and Industry Trade Relations between Hong Kong and Taiwan This paper briefs Members on the latest developments of the
More informationLegislative Council Panel on Financial Affairs. Establishment of Shanghai-Hong Kong Stock Connect
CB(1)1543/13-14(04) For discussion on 9 June 2014 Legislative Council Panel on Financial Affairs Establishment of Shanghai-Hong Kong Stock Connect Purpose This paper briefs Members on the establishment
More informationAviation Demand Forecasting
Airports Commission Discussion Paper 01 Aviation Demand Forecasting The Mayor of London s response March 2013 1. Purpose of paper 1.1. In February 2013, the Airports Commission issued a Discussion Paper
More informationPRESIDENT S YEAR-END REPORT - 2014
PRESIDENT S YEAR-END REPORT - 2014 As 2014 comes to an end, I want to report to you on the work ATAC has been doing in the past year for its members, about our membership, our finances, and our organization.
More informationTransport Infrastructure Development in China October 2013. Fung Business Intelligence Centre
Transport Infrastructure Development in China October 213 Fung Business Intelligence Centre In this issue: Overview Four Transportation Modes Government Initiatives 2 Overview 3 Passenger traffic at a
More informationWhere Business Goes to Grow
Where Business Goes to Grow Investment Opportunities in Hong Kong for European Tourism Companies Jimmy Chiang Head of Tourism & Hospitality Presentation Outline I. Introduction of InvestHK II. Overview
More informationCHINA MOBILE LIMITED ANNUAL REPORT 2011. Business Review
20 CHINA MOBILE LIMITED ANNUAL REPORT CHINA MOBILE LIMITED ANNUAL REPORT 21 In, the Group faced increasing penetration and intensifying competition in the traditional telecommunications market. Challenges
More informationRussell Group response to the Home Office consultation on regulating migrant access to health services in the UK
Russell Group response to the Home Office consultation on regulating migrant access to health services in the UK 1. Summary We urge the Government not to introduce charges for temporary migrants for access
More informationSetting up a banking institution in Luxembourg
Setting up a banking institution in Luxembourg Marco Lichtfous Partner Advisory & Consulting Governance, Risk & Compliance Deloitte Said Qaceme Senior Manager Advisory & Consulting Strategy, Regulatory
More informationBusiness Environment in Chengdu
Business Environment in Chengdu Lingyun Wang Matti Muhos Miika Kreivi Pekka Kess Department of Industrial Engineering and Management Chengdu-Chongqing Economic Circle Leading cities - Chengdu - Chongqing
More informationHong Kong Stockbrokers Association. Luncheon Speech. 2 August 2005. By Andrew Sheng Chairman of the Securities and Futures Commission
Hong Kong Stockbrokers Association Luncheon Speech 2 August 2005 By Andrew Sheng Chairman of the Securities and Futures Commission 1. I shall be stepping down as Chairman of the SFC in less than two months.
More informationLC Paper No. CB(1)1866/08-09(03) For discussion on 16 June 2009. Legislative Council Panel on Commerce and Industry
LC Paper No. CB(1)1866/08-09(03) For discussion on 16 June 2009 Legislative Council Panel on Commerce and Industry Mainland-Hong Kong Technology Co-operation Purpose This paper briefs Members on collaboration
More informationFor discussion on 17 January 2005 LC paper No. CB(1)684/04-05(04) LEGISLATIVE COUNCIL PANEL ON PUBLIC SERVICE
For discussion on 17 January 2005 LC paper No. CB(1)684/04-05(04) LEGISLATIVE COUNCIL PANEL ON PUBLIC SERVICE Civil service training: an up-dated overview Purpose This paper presents an up-dated overview
More informationDr. Simon Chee, Professor Michael Hor, Distinguished Guests, Ladies and. 2. Hong Kong has never been short of infrastructure and construction
Speech by the Hon Rimsky Yuen, SC, JP, Secretary for Justice Hong Kong Construction Arbitration Centre & University of Hong Kong Joint Conference on Construction Dispute Resolution 2015 Resolution of Construction
More informationAir Arabia. Investor Presentation FY 2015
Air Arabia Investor Presentation FY 2015 Disclaimer Information contained in this presentation is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information
More informationHong Kong The Gateway to China. Steve Barclay Director, HKETO May 2012
Hong Kong The Gateway to China Steve Barclay Director, HKETO May 2012 Hong Kong Economic & Trade Office (HKETO) Representative office of the Government of the HKSAR Assists companies to expand and explore
More informationTERMINAL 2 ANNUAL REPORT 2006/07
TERMINAL 2 To meet future increases in passenger throughput, in 2006/07 we began the phased opening of a new passenger terminal. A few minutes walk from the existing passenger terminal, Terminal 2 (T2)
More informationUnleashing Qianhai s Full Potentials
Unleashing Qianhai s Full Potentials The Qianhai Shenzhen Hong Kong Modern Service Industry Cooperation Zone has been developing very rapidly in recent months. What are the unique business opportunities
More information(WHIBI) Belgium Welcome Office
(WHIBI) Belgium Welcome Office 1. Introduction of the investment environment of Wuhan 1) Brief Introduction Located in central China, Wuhan, the capital of Hubei Province, serves as the political, economic
More informationDecember 2010 2008 Interim Results 6 August 2008
Cathay Pacific Airways 2010 Analyst & Investor Briefing Cathay Pacific Airways December 2010 2008 Interim Results 6 August 2008 1 Airline Strategy Grow our international network, expand frequencies and
More informationComparative Analysis of Shanghai and Hong Kong s Financial Service Trade Competitiveness
Comparative Analysis of Shanghai and Hong Kong s Financial Service Trade Competitiveness Ying Li Longfei Liu Lijun Liang Management School Shanghai University of Engineering and Science China Abstract
More information