events

Receptions celebrate Year of the Rat

Welcoming the Year of the Rat at the Spring Reception in New York are (from left): Monica Chen, Director of Hong Kong Economic and Trade Office in New York; Ambassador Peng Keyu, Consul General of The Consulate General of the People's Republic of China in New York; Mrs. Peng; Mrs. Wang; Margaret Fong, Hong Kong Commissioner to the USA; Ambassador Wang Guangya, Ambassador Extraordinary and Plenipotentiary and Permanent Representative of the People's Republic of China to the United Nations; Stephen Wong, Regional Director-Americas, Hong Kong Trade Development Council; Henry Cheng, Representative of Hong Kong Monetary Authority; D. Kelly Jones, Head of Investment Promotion at Hong Kong Economic and Trade Office in New York and Linda Ho, Senior Executive of Hong Kong Tourism Board.

Approximately 350 guests attended the February 11 Spring Reception hosted by the Hong Kong Economic and Trade Office in New York (HKETONY) at the Waldorf = Astoria Hotel in New York.

Celebrating the Year of the Rat, Hong Kong Commissioner for Economic and Trade Affairs, USA Margaret Fong noted Hong Kong recently had been ranked the world’s freest economy for the 14th consecutive year by The Heritage Foundation and The Wall Street Journal.

“The findings of the 2008 Index of Economic Freedom acknowledge Hong Kong’s observance of free-market principles, the rule of law and Hong Kong people's entrepreneurial zeal,” she said.

Miss Fong pointed out that in 2007, Hong Kong attracted US$42.9 billion in foreign direct investment, placing the city seventh in the world. Hong Kong also has the world’s seventh-largest stock market, raising more than US$37 billion in initial public offerings last year. 

“We are currently home to 6,440 overseas firms, and our exports of goods and services rose by 10 and 15%, respectively, in 2007. As we move forward, Hong Kong will work to further entrench its positions as an international financial and trading center, a convention and exhibition hub and a tourist destination,” she said.

Vice Chairman of the Chinese People’s Political Consultative Conference Tung Chee Hwa (right) attends the Hong Kong Economic and Trade Office in New York’s Chinese New Year reception in Boston on February 21.

Miss Fong also noted the strong vote of confidence U.S. companies have given for Hong Kong’s business outlook. The American Chamber of Commerce, in Hong Kong’s December 2007 Business Outlook Survey, revealed that 97% of its member companies find the city’s business environment very satisfactory, with many preparing for growth and further investment in the city. The companies cited Hong Kong's competitiveness, business-friendly environment, geographic location, infrastructure and free flow of capital as the bases for this positive sentiment.

In her remarks, Miss Fong pointed out that as part of the 29th Olympiad, Hong Kong will co-host the Equestrian Events. “It will be a proud and historic moment for Hong Kong people as the Olympic Torch passes through the territory on its way to Beijing,” she said.

Hong Kong will co-host the 13th Paralympic Equestrian Events in September.

On February 21, more than 80 guests joined the Director of HKETONY Monica Chen at the Chinese New Year reception held at the Downtown Harvard Club in Boston. Vice Chairman of the Chinese People’s Political Consultative Conference and former Chief Executive of the Hong Kong Special Administrative Region Tung Chee Hwa was among the distinguished guests attending the event.

Speaking at the reception, Mr. Tung said Hong Kong has been doing extremely well in the 11 years since China resumed sovereignty in 1997, with the city’s economy remaining strong and its people happy, proud and looking confidently to the future. He also pointed out that a recent Time magazine article had made reference to Hong Kong, New York and London as three international financial centers.

In her remarks, Miss Chen said Hong Kong is proud to be a 2008 Olympic Games co-host city for the equestrian events. “We are geared up and looking forward to welcoming equestrian teams and spectators all over the world to come and experience the excitement in Hong Kong,” she said.

A mini-exhibition showcasing the upcoming equestrian events was on display at both receptions.

The HKETONY also planned spring receptions in Chicago on February 28 and in Atlanta on February 29.