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From the Chairman
Inside Legco
From the CEO
Cover Story
Hong Kong:
The Trilingual City?
Language Learning: An Investment in
Your Future
Bigger is Better
O'Rear's View
Fading Hope for Fiscal Responsibility
China Economic Update
China
Tax Reforms Underway
Business
Trends
PRD Patriot's Paradox
Goods & Services Tax
Made Simple
Goodway
Electrical onto a Good Thing
Chamber Programmes
Hong Kong's Silver Lining
First Zero Tariff Shipment Under CEPA
by HKGCC Member
Hong Kong Service
Suppliers Q&A
Chamber Visits MTR's
Nerve Centre
Chamber Programmes
Building a Career in the PRD
2003 Hong Kong Award for Services: Innovation
Chamber in Action
February 2004 Issue
Hong Kong:
The Trilingual City?
Language skills have never been as important for Hong Kong's development as today
Hong Kong needs to become a trilingual city where the majority of its citizens are fluent in English, Putonghua and Cantonese if it hopes to compete and integrate successfully with the emergent Chinese economy.
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Hong Kong's Silver
Lining
After weathering unprecedented economic storms, Hong Kong can now look forward to rebuilding its fortunes
As I looked at Hong Kong's economic performance over the last few years, and the forecasts for the period ahead, I was struck by two things, the unprecedented scale of the economic storms we have had just weathered, and the enormous opportunities that lie ahead to rebuild our fortunes. We have gone through great pain, but we have now laid the foundation for unprecedented gain.
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First Zero Tariff Shipment
Under CEPA by HKGCC Member
HKGCC member Wing Li Holdings Limited went into the history books on January 7, 2004, as the first company to export made-in-Hongkong goods to the Mainland tariff free under the Closer Economic Partnership Arrangement (CEPA).
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Fading Hope for Fiscal Responsibility
The government's formula for rebalancing the budget is a three-legged stool: increase revenue, help the economy and cut spending. In recent months, however, there seems to be an increased emphasis on economic growth as the main pillar of support, followed by increased revenues. The largely unspoken assumption is that this is now a two-legged stool -- that spending cuts are ill-advised at this time -- and that is dangerous.
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China Tax Reforms
Underway
Buffered by a surge in tax revenues, which jumped 20.3 percent last year, the Central Government in October issued a new plan to reform China's export tax rebate system. China generally overhauls its tax system every decade, with past reforms taking place in 1983 and 1994. This year, China is starting to review its tax system, but unlike previous changes, this round of tax reform will be implemented in stages to minimise the impact on businesses.
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PRD
Patriot's Paradox
Despite growing feelings of nationalism, fuelled, among many things, by China's recent success in space exploration and the upcoming Beijing Olympics, Chinese youths are not discerning when it comes to choosing local brands over foreign ones, a recent survey has found.
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Goods & Services
Tax Made Simple
The Chamber and other organizations have been calling for a broadening of the tax base for some time. One of the most common means of achieving this goal is through some sort of broad-based sales tax. Hong Kong is one of only a very small number of economies without such a tax, and as our other revenues decline -- but spending does not -- we need to think this one through.
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Goodway Electrical
onto a Good Thing
Only LW Choi may know with any certainty what emotions were surging through his veins when he first decided to switch the production of his 20-year-old business from radios to irons. That was more than 20 years ago, after then Hong Kong Governor Sir MacLehose urged businesses to diversify their production lines.
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Building a Career in
the PRD
An estimated 240,000 Hong Kong people live and work in the Mainland, a number that is expected to grow in tandem with the closer economic integration of Hong Kong and the PRD. The Closer Economic Partnership Arrangement (CEPA) is accelerating this shift, and creating more career opportunities for Hong Kong youths interested in looking north of the border.
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