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Chinese leader Xi Jinping joins Obama for summit

Xi Jinping and Obama

Chinese President Xi Jinping and US President Barack Obama have begun a two-day summit in California.

updated 8. juni 2013 - ©bbc london

The two leaders spoke of overcoming differences and forging a new relationship between their countries.

President Obama spoke of "areas of tension" and mentioned their rivalry in the Pacific, North Korea's nuclear ambitions, and cyber espionage.

The meeting is the first between the two since Mr Xi became president in March.

The informal setting is seen as a chance for the leaders of the world's largest economies to build a rapport amid a slew of high-stakes issues.

The two men - looking relaxed and informal - met and shook hands under a shaded walkway at the Sunnylands estate just outside Palm Springs.

"Our decision to meet so early (in Mr Xi's term) signifies the importance of the US-China relationship," Mr Obama said.

read more on BBC's website


China media: Francois Hollande visit

Francoise Holland

updated 26. April 2013 - ©bbc london

Media in China praise vows by Chinese and French leaders to build a "multipolar world", but note lingering differences on human rights, a high-tech export embargo and Syria.

Global Times and other state media are highlighting French and Chinese promises to promote a new international "multipolar" order, during French President Francois Hollande's first visit to Beijing.

"France sometimes has different ideas from the US. China may co-operate with France," Cui Hongjian, director of European Studies at the China Institute of International Studies, a foreign ministry think-tank, tells South China Morning Post.

China Daily says Beijing and Paris signed 18 deals on Thursday, including deals for 60 Airbus planes and a nuclear project.

But differences over some issues are likely to remain, notes Global Times.

"France may say what they expect from China on issues like Syria, but China will choose to stick to its own principles," Prof Shi Yinhong at Beijing's Renmin University of China, tells the newspaper.

A bilingual Global Times editorial hopes that Mr Hollande will not follow other European leaders in playing a "game" of seeking economic benefits from China, while still meeting with exiled Tibetan spiritual leader the Dalai Lama.

"Currently, European politicians look increasingly like the yes-men of Washington's policies. Maybe the decline of Europe has contributed to this," the newspaper comments.

read more on BBC's website


Chinese Year of Snake celebrations in Asia

updated 10. february 2013

Fireworks Shanghai skyline

fireworks over Shanghai ©bbc london

Millions of people are celebrating Lunar New Year, also known as Chinese New Year, the most important annual holiday in much of Asia.

The new year began in China at midnight, with firework displays and family gatherings.

It marked the opening of the year of the snake, taking over from the dragon.

In China, an estimated 200 million people have travelled to be with their families in what is considered the biggest mass human migration on Earth.

The holiday will continue throughout the week, with government offices and businesses shut down.

The snake has a mixed reputation in China. It is associated with wisdom, beauty and intelligence but also pride and anger.

read more on BBC's website

Chinese Astrology

  • Chinese new year falls on the first day of the first month of the lunar calendar
  • There are 12 animals in the Chinese zodiac: the rat, the ox, the tiger, the rabbit, the dragon, the snake, the horse, the ram, the monkey, the rooster, the dog and the pig
  • Exact origins of the Chinese zodiac are unknown, but common folklore has it that these are the 12 animals to reach Heaven in a race
  • Recent snake years are 1941, 1953, 1965, 1977, 1989 and 2001


HSBC sale of Ping An stake in jeopardy

updated 01. february 2013

HSBC hq in Hong Kong

HSBC hq in Hong Kong

GMT Help HSBC's proposed deal to sell its $9bn (£5.7bn) stake in Chinese insurer Ping An may be in jeopardy.

In December, the British lender agreed to sell its near 16% holding in the firm to one of Thailand's richest men.

But the pact has yet to be signed off by China's insurance regulator, and if the two sides don't agree to an extension by Friday, the terms of the deal expire.

Should the sale fall through, HSBC stands to lose a potential profit of more than $2.5bn.

HSBC sells stake in Chinese Insurer Ping An for $9.4bn HSBC is exiting the Ping An investment after 10 years as it looks to sell non-core assets

HSBC, Europe's largest bank, says it will sell its 15.6% stake in China's Ping An Insurance for about $9.4bn (£5.8bn).

The buyer is Thailand's Charoen Pokphand Group (CP), linked to the country's richest man Dhanin Chearavanont.

Ping An is one of the world's largest insurers with 74 million clients and half a million agents.

The sale is part of HSBC's plan to improve profitability.

CP Group is better known for its agri-business than for insurance.

Its products include feed for chickens and pigs, ready meals, motorcycle manufacturing and property.

It was the first multinational to invest in agri-business in China 1979 and helped to modernise farming in the country.

It also runs the Lotus chain of supermarkets in Shanghai.

read more on BBC's website

Michael Hauge Sørensen

Michael Hauge Sørensen

opdateret d. 26. april 2013

Michael Hauge Sørensen har en solid teoretisk og praktisk uddannelse bag sig.

Den 33-årige Randers-dreng Michael Hauge Sørensen bevæger sig scenevant og med stort overblik rundt i den forvirrede, forvildede men dog samtidig også fortryllende tidligere engelske kronkoloni Hongkong. Trods sin unge alder har Hauge Sørensen et ganske stort pres hvilende på sine skuldre – Ecco’s totale salg i Asien.

Eccos ambitioner for de kommende år er ikke mindst knyttet op på markant vækst i de asiatiske lande. Han er oplært i Ecco, og kom til Hongkong for knap fem år siden, da kontoret i Hongkong blot havde et par medarbejdere. Nu er han hjemme i hovedkontoret igen, hvorfra han styrer Ecco’s aktiviteter i Asien.

I dag ser de flere end 25 ansatte på det asiatiske hovedkontor frem til at få udvidet faciliteterne. Samlet i hele Asien har Ecco flere hundrede medarbejdere.

Michael Hauge Sørensen og de efterhånden flere hundrede Ecco-folk i Asien inklusive Australien og New Zealand har fuld støtte, også finansielt, fra Ecco med domicil i det flade sønderjyske Bredebro.

I hjemlandet - måske især på de smarte københavnske cafeer - har Ecco fortsat et image som det fodformede, lidt kedelige og bedstemoragtige design. Et image som klart irriterer mange Ecco-folk og især viceadministrerende direktør Mikael Thinghuus, og derfor overvejer Ecco et decideret imagefremstød i Danmark. Ikke fordi det længere betyder så meget for Eccos omsætning, men fordi det er vigtigt, at imaget i hjemlandet følger udviklingen i udlandet.

I Hongkong og såmænd også alle andre steder i verden hører Ecco til i den dyre, lidt eksklusive ende af skalaen. Golfskoen »World Class« koster således 2.700 kr. i Hongkong, mens business-skoen til herrer »President« koster lige i underkanten af 2.000 kr. Det betyder, at Ecco især satser på købere i den øverste del af middelklassen. Den amerikanske præsident George W. Bush og Hollywood-skuespilleren Catherina Zeta-Jones og andre kendisser ses ofte i Ecco-sko.

Personligt har Michael Hauge Sørensen siden sin handelsskoleeksamen fra Randers handelsskole været igennem et stort uddannelsesforløb, der omfatter Stanford University Graduate School of Business, IMD Business School og INSEAD.

Michael Hauge Sørensen kom til Ecco Sko A/S i året 1998 og har fra en post som regional manager arbejdet sig op til at være Chief Operating Officer, med ansvar for Eccos salg i hele Asien.

Career outside ECCO
Past Vice-Chairman of Danish Chamber of Commerce in Hong Kong, Member of Hong Kong General Chamber of Commerce, Retail Committee, Member of the EU/HK Business Co-operation Committee. ECCO Sko A/S er en dansk koncern, der producerer sko. Virksomheden blev grundlagt af Karl Toosbuy i 1963 i Bredebro, og i dag ejes koncernen af grundlæggerens datter, Hanni Toosbuy Kasprzak. I oktober 2011 åbnede Ecco butik nummer 1.000 i Minneapolis i USA, og samlet set har koncernen en salgskapacitet på mere end 4.000 salgssteder globalt set. Omsætningen var i 2010 på 6,11 mia. kr. Koncernen beskæftigede 19.537 personer i mere end 94 lande med udgangen af året 2012


Amy Yuan Zhuang

Amy Yuan Zhuang

opdateret d. 26. april 2013

Amy Yuan Zhuang – taler Dansk, Engelsk og mandarin flydende.

Amy Yuan Zhuang er senior analytiker hos Nordea Markets, Global Macro & Strategy, hvor arbejdsområdet er analyser af økonomier i Asien med særlig fokus på Kina.

Responsible for covering Asian economies, primarily China. This includes:

- Monitoring and analyzing macroeconomic trends and political developments.
- Making forecasts on key macroeconomic and financial indicators.
- Applying the analyses and forecasts in relation to financial products and advising corporate clients.
- Press appearances, presentations and client meetings

Nordea Markets is the leading international capital markets operator and investment banking partner in the Nordic and Baltic Sea regions. We are market leaders in the region, located next door to you, connecting you to the global markets. We combine local expertise with global strength to provide you with a complete portfolio of financial services and solutions. We have one of the strongest, most diversified product range in the Nordics and offer outstanding liquidity in local currencies. But more significantly, we offer you access to an unequalled team of experts, in all facets of capital markets, dedicated to serving you in the best possible manner.

Amy Yuan Zhuang er født og opvokset i Norsøst Kina, taler flydende mandarin, dansk og engelsk. Kom til Danmark i 1996. Tog en kandidatuddannelse i økonomi fra Københavns Universitet med speciale i makroøkonomi, økonomi og finansiering. Amy Yuan Zhuang er efterfølgende udnævnt til CFA charterholder (A candidate who successfully completes the program and meets other professional requirements is awarded a "CFA charter" and becomes a "CFA charterholder.)

Amy Yuan Zhuang kom til Nordeas hovedkontor i 2012 fra en stilling som strateg i Nykredit Danmark.

Tidligere beskæftigelser omfatter: - Gas Analyst hos DONG Energy, Energy Markets, Gas & Oil Trading Desk, - Strategist hos Nykredit Realkredit A/S, Group Treasury, - Teaching Assistant hos University of Copenhagen, Department of Economics, - Assistant Analyst hos Danske Markets, Danske Research.


China unveils plan for new strategic industries

Updated: 2012-07-21

BEIJING - China has released a plan for the development of its new strategic industries from now to the end of 2015, according to a latest statement released by the State Council.

The seven new strategic industries include energy conservation and environment protection, new information technology, biology, high-end equipment manufacturing, new materials, new energy and new-energy cars, according to the plan.

The seven industries will maintain an average growth rate of more than 20 percent during the 2011-2015 period, the plan said.

The total value-added output of the industries will account for around 8 percent in China's gross domestic product by 2015, it said.

The plan aims to boost the innovation capability of those industries, improve the environment for innovation and starting businesses and strengthen their positions in global labor division.

The plan also aims at enhancing the role of the seven industries in serving the upgrading of industrial structure, energy saving and emission reduction, raising people's living standards and adding jobs.

China's 12th Five-Year Program (2011-2015) on National Economic and Social Development has said that China will support the seven new strategic industries in the five-year period.

©2012 China Daily


HKTDC - Hong Kong Trade Development Council

A statutory body established in 1966 under the HKTDC Ordinance (Chapter 1114), the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers.

Our mission is to create opportunities for Hong Kong companies. With our network of more than 40 offices worldwide, and the city’s natural business advantages, we provide a range of services to help global trade and promote Hong Kong as a platform for doing business with China and throughout Asia.

HKTDC Enterprise Yearbook 2013 (Preview version)

Hong Kong Exports Outlook

Markets to Watch

Services and Support

Design Focus

2012/2013 Events Calendar

HKTDC Enterprise (September 2012)

Editorial features

Apparel & accessories

Camping & sporting goods

Electrical & electronic appliances

Gifts & premiums

Household products

Lighting

Stationery & office equipment

Trade services

General

HKTDC Small-Order Zone (September 2012)

Editorial Features

Gifts

Watch & Clock

Electronics

Houseware

Double Taxation Agreement (DTA) mellem Danmark og Hong Kong

26 March 2012

Click to read moreThe Danish Chamber of Commerce Hong Kong letter to the Danish Taxation Minister


CY Leung elected Hong Kong's new chief executive

copyright BBC News - 25 March 2012 Last updated at 05:07 GMT

A group of electors in Hong Kong has chosen CY Leung as the city's new chief executive, results show

Mr Leung is a former government adviser and property consultant

The self-made businessman defeated the early front-runner, Henry Tang, and pro-democracy leader Albert Ho.

Mr Leung had consistently led in opinion polls, prompting the Chinese government to switch its support from Mr Tang late in the campaign.

Mr Leung will replace Donald Tsang, who served two terms and could not run for the post again.

Mr Leung received 689 votes in Sunday's vote - enough to win outright.

The 1,200 electors - who are mostly loyal to Beijing - in the past rubber-stamped the Chinese government's choice for the post.

But the vote this time was thrown wide open by media allegations about Mr Leung and Mr Tang.

Newspapers have accused Mr Leung of having ties to organised crime, a charge he denies.

Mr Tang has confessed to cheating on his wife and building an illegal underground basement. The revelations have swayed public opinion against him.

Beijing has said it wants a relatively popular candidate.

But because of Mr Ho's outspoken pro-democracy stance, he was widely seen as being unacceptable to Beijing.

Hong Kong, a British colony until 1997, has been enjoying high degree of autonomy from Beijing.

But Communist leaders in Beijing have resisted public pressure for full democracy in Hong Kong.

Chinese New Year presentation 2012


 

Download the above presentation as a Powerpoint file


Hong Kong 2011-2012 Policy Address - From Strength to Strength (12th October 2011)

Dear Friends,

The Chief Executive of the Hong Kong Special Administrative Region (CE) Mr Donald Tsang delivered his annual Policy Address yesterday (October 12) his last policy address before relinquishing his post in June 2012. In it he laid out strategies to tackle some of the city's most pressing concerns: enhancing competitiveness; improving living standards; dealing with an ageing population; and providing affordable housing.

He said that the Hong Kong economy started to recover in the second quarter of 2009 and has since remained strong. Last year Hong Kong achieved growth of 7% and he said that he expected the economy to grow by 5-6% this year.

On economic development, Mr Tsang said it was important to maintain Hong Kong's competitiveness by seizing opportunities both in the Mainland and globally. He said that in the National 12th Five-Year Plan, our country has expressed her support for Hong Kong to reinforce and enhance our status as an international centre for financial services, trade and shipping, and to develop industries where we enjoy competitive advantages: the pillar industries of Financial Services, Tourism, Logistics, and Professional Services, and the six new industries of Medical Services; Environmental Industries; Testing and Certification; Education Services; Innovation and Technology; and Cultural and Creative Industries.

He added that Hong Kong would strengthen investment co-operation with emerging markets overseas including the BRICS countries BRICS (Brazil, Russia, India, China and South Africa), especially Russia, with which Hong Kong hopes to soon negotiate an agreement on investment promotion and protection. Closer to home Mr Tsang also said Hong Kong would continue to boost co-operation with Taiwan, Fujian and Chongqing.

In financial services, Mr Tsang committed to reinforcing Hong Kong's role as an offshore Renminbi (RMB) business platform, establishing strong and extensive links with the Mainland's onshore RMB market by three "bridges", namely trade settlement, direct investment and equity investment. These links received a further boost earlier in the year when the Central Government announced the third issue of Renminbi Sovereign Bonds through Hong Kong, amounting to RMB15 billion.

To further boost Hong Kong's competitiveness in innovation and technology, Mr Tsang proposed injecting HK$5 billion into the Research Endowment Fund.

He proposed to address the growing demand for high quality office space by encouraging the development of East Kowloon into a core business district, by enhancing connectivity both within Hong Kong and externally. Since there is increasing global demand for data services, the Government has also reserved about two hectares of land in Tseung Kwan O for data centre use. The first such site is expected to be put up for open auction in 2013 at the earliest. All this would help make Hong Kong a more attractive place for international businesses.

This attractiveness would also be boosted by further developments in the education sector as four new international schools come on stream offering more than 5,000 new places over the next few years, and as the Queen's Hill site is put up next year for applications to establish higher education campuses.

To promote the skills needed in the development of tourism, catering, retail and wine trading, Mr Tsang announced plans to establish an International Cuisine College. This will provide training facilities and progression pathways for people aspiring to become professional chefs proficient in international cuisines.

Mr Tsang also proposed setting up a dedicated fund of HK$1 billion to support Hong Kong enterprises to promote domestic sales in the Mainland and encourage them to develop high value-added products and build brands by leveraging Hong Kong's strengths in design.

And the creative sector in Hong Kong will also receive due recognition as Mr Tsang announced that next year (2012) will be designated as "Hong Kong Design Year", which will encompass a number of mega events on design to consolidate Hong Kong's position as Asia's creative hub.

On quality of life, Mr Tsang proposed policies to help address the shortage of affordable housing and to support elderly people. Mr Tsang also said the Government was exploring ways to further raise living standards including the feasibility of introducing standard working hours and providing paid paternity leave to promote family-friendly working practices.

To boost environmental industries, the Chief Executive said the Government would introduce additional requirements and incentives for bus companies to switch to zero emission buses or the most environment-friendly buses when replacing old diesel vehicles. This would include funding of HK$180 million to enable bus companies to purchase 36 electric buses for trial runs on a number of routes to assess their performance.

In recognition of the life and achievements of one of Hong Kong's best known international film artists, Mr Tsang also announced Government plans to establish a Bruce Lee Gallery in the Hong Kong Heritage Museum, to celebrate the life and work of the Hong Kong raised Chinese American martial arts actor who turned Kung Fu into mainstream entertainment.

Finally Mr Tsang urged Hong Kong people to believe in their own ability to take the city's economic and social development to the next level.

The complete text of the Policy Address can be found at www.policyaddress.gov.hk

Agnes Allcock
Director-General
Hong Kong Economic & Trade Office
6 Grafton Street
London W1S 4EQ
Tel.: +44 (0) 20 7499 9821
Fax: +44 (0) 20 7495 5033
Email: general@hketolondon.gov.hk
Website: www.hketolondon.gov.hk


CY Leung

opdateret d. 26. april 2013

Mr C Y Leung graduated from King's College, Hong Kong Polytechnic and Bristol Polytechnic. He has been awarded Honorary Doctorate degrees by four universities in the United Kingdom, Hong Kong and Shandong.

He was Chairman of the Royal Institution of Chartered Surveyors Hong Kong, President of the Institute of Surveyors in Hong Kong and Asia Pacific Chairman of DTZ.

Since late 1970s, Mr Leung had participated in the land and housing reforms in the Mainland. After the constitution was amended in 1988, he assisted Mainland cities in land leasing matters on a voluntary basis.

Between 1984 and 1997, Mr Leung was involved in the preparatory work for the establishment of the Hong Kong Special Administrative Region.

Between 1997 and 2011, Mr Leung was a member of the Executive Council of Hong Kong and was the Convenor of the non-official members between 1999 and 2011.

In March, 2012, Mr Leung was elected the fourth term Chief Executive of the Hong Kong Special Administrative Region.

Read article

 

Hong-Kong foreshore ...
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