Business Profile Economy: The mainstays of Hong Kong`s economy are light manufacturing, shipping and financial services. The last of these is now the most important as Hong Kong has developed into a major international financial centre. Manufacturing is concentrated in textiles, consumer electronics and other consumer goods (Hong Kong is the world`s largest producer of children`s toys). The shipping industry is assisted by Hong Kong`s natural deep-water harbour, probably the best in the region. Much regional trade is still conducted through Hong Kong. Within months of the handover of the territory to China in July 1997, the financial crisis which affected the whole region started to take hold. With a more mature and stable banking system than most of the rest of the region, Hong Kong showed few immediate ill effects. However, the severe impact on many of the territory`s major trading partners and the depression of the regional economy was sure to cause some damage, and did so in the form of a 7 per cent drop in output during 1999. However, the economy recovered during 2000 and is set to continue its steady 2 per cent growth into, and throughout, 2001. The USA, Japan, Taiwan, Singapore and Germany are Hong Kong`s main trading partners. Business Business people are generally expected to dress smartly. Local business people are usually extremely hospitable. Appointments should be made in advance and punctuality is appreciated. Business cards are widely used with a Chinese translation on the reverse. Most top hotels provide business centres for visiting business people, with typing, duplication, translation and other services. Office hours: 0900-1300 and 1400-1700 Monday to Friday, 0900-1300 Saturday. Some Chinese offices open earlier than 0900 and close later than 1700. Commercial Information The following organisations can offer advice: Hong Kong Trade Development Council
16 Upper Grosvenor Street
London W1K 7PL
(tel: (020) 7616 9500
fax: (020) 7616 9510
e-mail: london.office@tdc.org.hk
website: www.tdctrade.com Hong Kong General Chamber of Commerce
22nd Floor, United Centre
95 Queensway
tel: 2529 9229
fax: 2527 9843
email: chamber@chamber.org.hk
website: www.hkgcc.org.hk Immigration Department of the Hong Kong Government
Immigration Tower
7 Gloucester Road
tel: 2824 6111
fax: 2877 7711
e-mail: enquiry@immd.gov.hk
website: www.info.gov.hk/immd Conferences/Conventions The Hong Kong Convention and Incentive Travel Bureau is a division of the Hong Kong Tourist Association, which specialises in promoting Hong Kong as a leading venue with a special East/West position; it publishes lavish and detailed brochures showcasing the region for conference and incentive planners, together with a glossy catalogue of promotional material and a directory of associations and societies in Hong Kong. There are venues with seating for up to 12,500 persons. Leading hotels are offering substantial room and function space savings (up to 50%) for conference, convention and incentive travel organisers until the end of the year 2000. For further information, contact: the Hong Kong Convention and Exhibition Centre
12th Floor
One Inernational Finance Centre
1 Harbour View Street, Central
tel: 2522 1122
Fax: 2295 3106
e-mail: info@hkex.com.hk
web
|
