Date: November 27 - December 1, 2006
Organiser: The Fraser Institute
Event: Greater South China Excursion
Topic:
Synopsis
The Pearl River Delta region has grown at 16 percent annually on average for the past quarter century, 70 percent faster than the national economy. Just over one-third of China’s trade takes place there, in and around 9 major cities that have a regional population of 40 million.
Next door are two autonomous cities: Hong Kong and Macao.
Hong Kong houses China’s largest urban economy and its freest economic and political space. It provides the international connections that facilitate trade and generates capital investment that fuels Chinese businesses. In one direction, hundreds of large Chinese firms are lined up to list their shares on Hong Kong markets. In the other, there are thousands of foreign businesses with an interest in producing and selling in China. The city is ground zero for servicing both groups.
Macao is fast becoming the gambling capital of the world. Through a combination of gaming, tourism and property development, the city is expected to overtake Las Vegas gaming revenues this year. Further growth is anticipated with the construction of a bridge to Hong Kong and the opening of the western portion of the Delta to expanded trade.
The Greater Pearl River Delta is increasingly integrated, through investment, trade and common interests. It is one of the keys to China’s future prosperity and, therefore, to the evolution of the world economy. As a role model for opening markets and unleashing entrepreneurship, it has important lessons to teach Canadian business people and policy makers alike.
The Delegation
The Fraser Institute has brought over 15 companies from Canada to visit Greater South China, starting with Hong Kong, followed by a trip to Shenzhen then Macao and concluding back in Hong Kong.
Elizabeth L. Thomson, President of ICS TRUST, was invited to speak at the opening session about the legal and financial framework in Hong Kong and offered practical advice on corporate structuring in Hong Kong for businesses entering the China market. The breakfast session was kicked-off by Yun-Wing Sung, Professor & Chairman, Department of Economics, Chinese University of Hong Kong, who shared his views on the development of the Pearl River Delta and the Yangzi Delta Regions, and the implications for Hong Kong.
Another high profile speaker include The Honorable Henry Tang, Financial Secretary of HKSAR, who spoke on Hong Kong’s competitiveness and the role of Government.