NEW YORK, Nov. 14, 2011 — A seminar detailing the benefits of using Hong Kong as a platform for financial services in Asia will be held on December 2 at the Mandarin Oriental Hotel. The seminar focuses on how Hong Kong is uniquely qualified to assist American business in Asia, due to its market's liquidity, global investment reach, and its international-standard regulatory regime.
Ronald Arculli, Chairman of the Hong Kong Exchanges and Clearing Limited, the world's leader in terms of IPO funds raised (US$57 billion in 2010), gives the keynote address outlining Hong Kong as an international financial center. Hong Kong IPO examples include AIA Group Ltd, Wynn Resorts, Samsonite, Glencore International, and Prada.
Fred Lam, Executive Director of the Hong Kong Trade Development Council (HKTDC), which is organizing the event, delivers opening remarks. Mr. Lam discusses the success of the Pacific Bridge Initiative (PBI), a cooperative venture between the U.S. and Hong Kong that positions Hong Kong as a bridge to Asia for American companies.
Jason Yeung, Deputy Chief Executive, Bank of China (HK), addresses Hong Kong's development as the offshore renminbi trading center for China. American companies can now settle cross-border transactions in renminbi through Hong Kong with enterprises in 20 Mainland provinces and cities. Renminbi trade settlements can help U.S. companies offset some exchange rate fluctuation risks and provide more certainty to their business.
Kok-Chi Tsim, Managing Director, Commercial Banking International, JPMorgan Chase Bank, N.A., describes Hong Kong's growing role as a renminbi business hub from a U.S. bank's perspective. In the first seven months of 2011, there were issuances of Rmb50 billion by 43 issuers, more than the total in the full year of 2010. Moreover, the range of issuers in the renminbi bond market in Hong Kong has diversified to include multinational companies such as Hopewell, McDonald's, and Volkswagen.
Executives also address the benefits of utilizing Hong Kong as Asia's technology marketplace and regional IP trading hub. Speakers are Jeff Beck, President, Home Robots, iRobot Corporation; Dr. C.T. Tang, Capture Manager, International Air Traffic Management, Raytheon; and Michael Bellacosa, Managing Director, Treasury Services, The Bank of New York Mellon.
Assisted by the PBI, 3,626 U.S. companies have participated in Asian-related business activities such as conferences and trade fairs from November 2010 to October 2011, up from 2,285 in the previous year. A record number of U.S. companies participated in Hong Kong's 2011 Filmart trade fair, registering 107 sales worth more than US$5.1 million. The city's 2011 Eco Expo also realized sales by 28 U.S. vendors worth nearly US$2 million.
For seminar reservations, call HKTDC at 212-838-8688. To schedule an interview with Mr. Arculli or Mr. Lam, please contact Elaine Mancini at Email.
CONTACTS:
Elaine Mancini, 914-948-4264, Email
Byron Lee, Director, NY office, 212-838-8688, Email
Parker Robinson, Head, Corporate Communication, Hong Kong, 852-2584-4341, Email
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