Hong Kong Economic and Trade Office, New York
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Hong Kong Commissioner delivers keynote speech in Michigan

Delivering the keynote speech “Five Trends to Watch in Asia – How Hong Kong is Taking on the Challenges”, at the 26th Asia Business Conference at the University of Michigan Ross School of Business on Jan 20, Hong Kong Commissioner to the United States Clement Leung highlighted strong US-Hong Kong bilateral ties, and the latest developments in Hong Kong, including the city’s role in the "Belt and Road" initiative as well as the government's support for innovation and technology.

Mr Leung said that Hong Kong is developing into one of the most popular hubs for start-ups in the region due to its proximity to the China market and its strong legal framework to protect intellectual property rights. For example, Massachusetts Institute of Technology chose Hong Kong for its first Innovation Node in the world to bring new technologies “from lab to market” and Swedish medical university Karolinska Institute located its first overseas R&D center in Hong Kong with a focus on stem cell research and reparative medicine.

 Hong Kong is investing US$2 billion to expand the Science Park, to strengthen infrastructure for data centers, and for smart manufacturing. In collaboration with authorities in Shenzhen, Hong Kong will also develop a 200 acre innovation and technology Park. The city is giving focus on the development and application of Fintech, creating a dedicated working space to support 150 Fintech start-ups over the next few years to drive development of various technologies, from cybersecurity to blockchain.

The US is Hong Kong’s second largest trading partner, buying US$37 billion dollars of American goods in 2015. With an open market for US goods and services, the US has a sizeable trade surplus with Hong Kong. Hong Kong is also the US’s fifth largest market for beef and number 6 for agricultural products.

During his visit to Michigan, the Commissioner also met with Steve Arwood, CEO of Michigan Economic Development Corporation, and gave an update on Hong Kong's developments and opportunities for Michigan businesses. He also met with members of the Hong Kong Student Association at the University of Michigan.

 


Hong Kong Commissioner to the United States Clement Leung delivered the keynote address at the 26th Asia Business Conference at the University of Michigan Ross School of Business.
Hong Kong Commissioner to the United States Clement Leung delivered the keynote address at the 26th Asia Business Conference at the University of Michigan Ross School of Business.
 
Commissioner Leung (second left) met with President and CEO of Michigan Economic Development Corporation (MEDC) Steve Arwood (second right). Also present at the meeting are International Trade Development Manager of MEDC Jeanne Broad (far left) and Executive Director of Michigan-China Innovation Center Brian Connors.
Commissioner Leung (second left) met with President and CEO of Michigan Economic Development Corporation (MEDC) Steve Arwood (second right). Also present at the meeting are International Trade Development Manager of  MEDC Jeanne Broad (far left) and Executive Director of Michigan-China Innovation Center Brian Connors.

 

 

 

 

 

 

 

 

 

 

 


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