Description
On Thursday, March 16, the World Trade Center of Greater Philadelphia and Hong Kong Economic and Trade Office, New York will co-organize a symposium at the Wharton School of the University of Pennsylvania to highlight international business opportunities available in China which can be more easily managed through services in Hong Kong.
~ Dennis Yablonsky, Secretary of Commerce and Economic Development,
The Commonwealth of Pennsylvania; and
~ Ronald J. Daniels, Provost, The University of Pennsylvania.
will start the program moderated by:
~ Gary P. Biehn, Esq., White and Williams, LLP
Speakers:
- Jacqueline Ann Willis, JP, Hong Kong Commissioner, USA;
- Robert Allcock, Solicitor General, Department of Justice, Hong Kong;
- Clarence Kwan, National Managing Partner, Chinese Services Group, Deloitte Touche;
- Patrick Hurley, Managing Director, MidMarket Capital Advisors, LLC;
- and others.
With over 1.3 billion people, China has the largest population in the world and one of the fastest growing economies reported at almost 10% GDP in 2005. However, overseas companies wishing to do business in China are sometimes confronted with certain barriers in the legal system and corporate transparency that impact successful international trade.
There are many opportunities for growth in the Mainland, and one way to tap into this market is through Hong Kong. Hong Kong is the gateway to China and a trading, distribution and logistics hub in the Asia Pacific region. Major destinations in the Mainland and the region can be reached from Hong Kong within five hours’ flight time. Hong Kong’s legal system enforces intellectual property rights, and patent and trademark protection. It is also a key financial centre built on high standards of market transparency and supervision. Similarities in language and culture with the Mainland have enabled Hong Kong to assist U.S. firms, especially first-time exporters, to enter the China market. Companies from around the world have already set up about 3,800 regional headquarters or regional offices in Hong Kong. The Closer Economic Partnership Arrangement (CEPA), a free-trade arrangement between the Mainland and Hong Kong, covering trade in goods and 27 services sectors, will further strengthen Hong Kong’s position as the leading gateway to the China market.
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