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The Japan Times
WORLD EYE REPORTS
HONG KONG |
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©THE JAPAN TIMES
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Wednesday, June 26, 2002
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The place of choice in 21st century Asia
What does the name "Hong Kong" bring to mind? Shopping and exotic dining, perhaps. But from a business perspective, all thoughts lead to the burgeoning economic giant that is China. With China's accession to the World Trade Organization (WTO), the issue at hand is the changing role of Hong Kong in this new world order.
Hong Kong's inhabitants are growing anxious about the SAR's place in Asia. Some are fearful that the city may lose its edge as mainland cities like Shanghai continue to grow and more companies enter the Chinese market directly, bypassing its traditional entrepot. Amidst these changes, Hong Kong is striving redefine its role and maintain its importance within the region.
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Invest Hong Kong is a government department that acts as your one-stop-shop for investment support services in the region. Its primary focus is to link business partners, provide sector-specific expert advice, and help foreign companies to establish businesses in Hong Kong. The site is perfect for companies planning to relocate to this dynamic economy. www.investhk.gov.hk
With 28 flights per week to Hong Kong, Japan Airlines is committed to this market. Visit the company's Web site and enjoy the wide array of services from discounted fares to weather information, special hotel rates and travel tips. This site also explains how to enroll and take advantage of the JAL Mileage Program, which has links with American Airlines, Air France, Cathay Pacific and Dragonair. Log on and find out about new routes for 2002, which include more flights to China and Korea. www.jal.co.jp
eBox
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 Hong Kong's magnificent harbor still glitters as Asia's premier business location. |
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Hong Kong has undergone a remarkable transformation over the last two decades, from a manufacturing center to a diversified services center. When China decided to begin opening up its economy to the outside world in 1978, Hong Kong's manufacturing sector accounted for over 25 percent of GDP. FULL STORY
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World class business and the rule of law beckon investors
The Chief Executive of HKSAR - the Hong Kong Special Administrative Region of the People's Republic of China (PRC) - Tung Chee Hwa, was first elected on December 11, 1996. He assumed the post on July 7, 1997 after the historic handover of the former British colony to China.
Charged with maintaining Hong Kong's special economic position within the PRC, he has had to steer the region through some challenging years as recession shook Asia. Now, he has to lead it through changing times to the regional economic rebound in which Hong Kong is expected to play a major part. FULL STORY
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 Hong Kong Chief Executive Tung Chee Hwa |
 Adrian Ma, Grande Group managing director and group executive officer (left) with Mike Binney , executive director and chief financial officer
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The power of a top-end name
Hong Kong group's acquisition of the legendary Nakamichi brand marks its move into 'own brand' manufacturing.
A natural evolution is taking place within traditional manufacturing and production companies in Hong Kong. A growing number of these have honed their manufacturing and marketing expertise and found that the time is right to move into selling under their own brands as well as for other retailers. Its is a growing trend for companies based in the SAR and it is happening across the board in all consumer goods markets, including toy manufacturing, apparel, food and beverage products and electronics. FULL STORY
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Hong Kong
Total GDP; $181 billion
GDP growth rate 10 percent
GDP per capita; $25,400
Inflation rate; 3.7 percent
Unemployment rate; 4.5 percent
Total exports $204 billion
Total imports $215 billion
Top five exports; Clothing, accessories, and apparel; Electrical machinery, appliances, and parts; Textile yarn, fabrics, and related products; Jewelry; Office and data |
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processing machine parts and accessories
Top five imports; Food stuff; Consumer goods; Raw materials and semi-manufactured goods; Fuels; Capital goods
Main export markets; Mainland China, US, Britain, Germany, Taiwan
Main import markets; Mainland China, Japan, Taiwan, US, Singapore
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 Sources: Census and Statistics Department, CIA Factbook
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