Ventures Dialogue

Mike Rowse, Director-General of Invest HK speaking about getting Canadians excited about in Hong Kong

What does a former English tutor have to do with growing and sustaining your business in these turbulent economic times? Well quite a lot, if that person is Mike Rowse, Director-General of Investment Promotion in Hong Kong – Invest HK. Speaking at an event called, Establishing Business in Asia, a luncheon hosted by the Hong Kong Economic Trade Office and the Ontario Chamber of Commerce, Rowse discussed what businesses must do when looking towards Hong Kong as a market for expansion. He kicked off the discussion by saying that anyone can do business in Hong Kong and Mainland China. To make your business into a profitable one takes a bit more effort and involves a well thought out process. Rowse outlined three main keys to achieving this goal.

Today, in the first of a three part series, we’ll look at the first key to success.

First, Hong Kong has its own domestic market that mustn’t be overlooked. It’s not just the seven million people who live there that must be considered, but also the 28 million tourists that visit Hong Kong every year – many of whom visit Hong Kong to shop. It should also be seen as a conduit into the Asian market. With no value added tax (VAT), GST, and an excellent intellectual property rights enforcement regime, it’s not just cheaper, but also easier to protect your goods and services in Hong Kong than in Mainland China. This is why the world’s biggest luxury brands like Louis Vuitton and Armani have set up shop in Hong Kong.

Hong Kong is also a perfect coordination centre, not just for South China and China as a whole, but also all of Asia. Its legal system, English as an official language, low crime, low taxes, and its strategic location make it a prime spot for accessing the region. In other words, Hong Kong wants you to do business with them and it’s up to you to take advantage of what they have to offer.

Tomorrow on VENTURES, we’ll have Rowse’s second key to success in the Hong Kong Market.

With the launch of VENTURES, your Ontario Hong Kong China business dialogue, a collaborative initiative between the Ontario Chamber of Commerce (OCC) and China focused business associations in Ontario, has taken shape.

VENTURES is an online publication, designed to stimulate more business exchange between Ontario – Canada and Hong Kong – China, and comes as a result of the China Initiative, a partnership announced in November, 2006 by the OCC and the Hong Kong Economic & Trade Office (HKETO).  The China Initiative was borne from HKETO’s mandate to reach out to businesses in Ontario, and the OCC’s desire to help its members bridge the cultural and geographic gap to the Asia Pacific region. 中文版請按這裡

“The importance of the Chinese market to Canadian companies is often underestimated,” explains the Hong Kong Economic and Trade Office.

 ”With an average growth rate of 9.6% since the late 1970s, China presents unparalleled opportunities and challenges.  Ontario companies need a China strategyin order to tap inot this lucrative market, as well as to fend off increasingly fierce competition in a global market.  The Chinese market is not just for big corporations.  Canadian SMEs can always share the pie if they have the right tools.”

HKETO has been providing outreach to SME’s, largely in the GTA, to help them learn more about opportunities in China, and to demonstrate the advantages of using Hong Kong as their launching point into the Chinese market.

“The primary mission of HKCBA, very much a national Canadian business association, continues to be to encourage Canadian business – particularly the small and medium business enterprises – to be take the opportunity and initiative to expand their activities, now, and increasingly in future, in the rapidly growing China marketplace,” says Robert Brown, an HKCBA Founding Director.  “We assist by providing advice and examples as to how they may do this, in confidence and safety, by using Hong Kong as their business platform to other parts of China and South East Asia.  VENTURES is a practical extension of our ongoing activities.”

“I suppose you could say we’re the new kids on the block here,” says Len Crispino, President & CEO of the Ontario Chamber of Commerce.  ”But many of our members see the enormous potential offered by the robust economy in Hong Kong and China, only they don’t know where to start.  VENTURES will help us provide valuable insight and information, while also positioning Ontario as an ideal location for investors from China.”

As a platform for dialogue about Sino-Canadian business exchange, VENTURES is just the beginning of the conversation.  Over time this publication will become more interactive and provide an unparalleled platform for discussing and promoting two-way trade.   Future activities are also planned to build on the momentum created by this initiative.

Letter of Congratulations from Consul General of the People’s Republic of China in Toronto