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In the Bulletin
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CHAMBER IN ACTION
May 2002 Issue

China
Chamber Director Dr Eden Woon represented the Chamber at the Hebei (Hong
Kong) Investment & Trade Fair 2002, which was held in Hong Kong on March 20-23. The
Chamber is planning to organise a study mission to Hebei sometime next year.
Wang Rongbing, deputy governor, Jiangsu Province, led a delegation to visit
the Chamber on March 27 and was met by Chamber China Committee Chairman Stanley Hui.
During the meeting, delegates discussed Jiangsu Province's Investment & Trade Fair,
which will be held in Hong Kong in June, and Mr Hui pledged that as a co-organiser of the
fair, the Chamber would put its full support behind the event.
Wang Guoyao, deputy secretary-general of Hubei Province, called on the
Chamber on April 8 to discuss preparation work for the Hubei & Hong Kong Economic
cooperation Conference, of which the Chamber is a co-organiser. The conference will be
held in Hong Kong on May 8.
Thomas Lee (left) and PY Ng, respective partner and senior manager of
the Tax & Trust Advisory Department of Moores Rowland, spoke at the Chamber's April 15
roundtable luncheon entitled, "Transfer Pricing in China." The speakers
explained the details of "Guoshuifa No. 59," a comprehensive PRC tax circular
enforcing strict control over transfer pricing issues between related parties.
Listen
>> 
Slide
Presentation >>
Asia/Africa
Paul Kam, head of Treasury Sales
Department, Bank of Tokyo-Mitsubishi, spoke at the Chamber's March 18 round-table luncheon
on "The Outlook of the Japanese Economy and Yen Exchange Rate." Mr Kam briefed
members on the Japanese economy, its weak currency and the impact on the Asian region from
a Japanese banker's point of view.
Listen >> 
Slide Presentation >>
Sir Gil Simpson, CEO of Aoraki Corporation Ltd, from New Zealand, met
Chamber Assistant Director Dr YS Cheung and e-Committee members at the Chamber on March
26. During the meeting, opportunities for cooperation in the area of information
technology between Hong Kong and New Zealand were discussed.
Europe
A 17-member Swedish business delegation visited the Chamber for a
business-matching meeting with members on March 19. Eva Chow, chief of International
Business, welcomed the delegates and briefed them on the role of the Chamber. Members then
discussed with the visitors possible business cooperation opportunities.
State Secretary of the Danish Ministry of Foreign Affairs Ambassador
Birger Riis-Jorgensen, and Danish Trade Council Head Linda Jakobsen, Danish Ministry of
Foreign Affairs, together with Danish Consul General in Hong Kong Jens Peder Jensen,
visited the Chamber on April 12. David Rimmer, chairman of the Chamber_s Europe Committee,
and Eva Chow, chief, International Business, received the guests and updated them on
China_s WTO accession and its implications for business in the HKSAR. The Mainland / Hong
Kong Closer Economic Partnership Arrangement (CEPA) was also discussed.
Americas
Dr Robert A Kapp, president, US-China Business Council, spoke on the
development of US-China business relations after US President Bush's visit to China and
its implications at the Chamber's March 22 roundtable luncheon. Dr Kapp also discussed the
growing significance of the Chinese market in the U.S. with China's accession to the WTO.
Listen >> 
Patience Singleton, Majority Counsel, Senate Committee on Banking, led a
seven-member delegation from the US-Asia Institute 49th Congress to the Chamber on April
4. Chamber Director Dr Eden Woon met with the delegates. The group had just visited
Shanghai prior to their Hong Kong trip, which was sponsored by the Better Hong Kong
Foundation.
The Americas Committee organised a joint-committee boat trip on April 12
to Lamma Island for a casual networking evening over a big seafood dinner. Members who
attended included: Hungarian Consul General Laszlo Vizi, Europe Committee Chairman David
Rimmer, and Americas Committee Vice-Chairman Steve Wong. A special thanks must go to the
Chamber's Chairman Christopher Cheng for making the evening possible by generously giving
members use of his boat.
PBEC
CLP
and MTR, the two PBEC Hong Kong nominees of the 4th PBEC Environmental Award, were invited
to a PBEC breakfast meeting on March 27 to talk about their projects nominated for the
award. Representing CLP were Edward Kwong, Shared Services manager, and K M Yung, manager
- Engineering Projects. MTR was represented by Russell Black, Project director and Dr
Glenn Frommer, Environmental manager. The meeting was chaired by Chairman of PBEC Hong
Kong David Eldon. In addition to PBEC Hong Kong members, members of the Chamber's
Environment Committee were also invited to attend.
Environment
James Graham was elected Vice Chairman of the Chamber's Environment
Committee during its meeting on March 27. Following the meeting, committee members
listened to Donald Tong of the Environment and Food Bureau, talk about integrated waste
treatment facilities.
Small and
Medium Enterprises
SME Committee Chairman KK Yeung and leaders of the seven "SME
industry groups" called on Trade and Industry Director General Joshua Law on April 12
to explain some of the problems SMEs are facing in Hong Kong. On April 15, the Chamber
sent a letter to the Hong Kong Society of Accountants suggesting that a simplified
accounting standard be developed for SMEs.
HKCSI
The Real Estate Services Committee met with Ava Ng of the Planning
Department on March 20 to discuss the subject of Hong Kong residents purchasing properties
in the Mainland.
Michael Stone of the Information Technology and Broadcasting Bureau
introduced the progress that the "e-government" project was making to HKCSI
Information Services Committee members during their April 9 meeting. On 15 April some
members of the committee met with John Lipp to discuss 3G community services.
Hu Jingyan launches Chamber's CBS
Hu Jingyan,
director-general of the Foreign Investment Department of MOFTEC, launched the Chamber's
China Business Speakers' Series (CBS) at a luncheon on March 26. The series is planned to
become a regular event at which working level officials from China will be invited to
brief members on
China-related topics.
At the private
luncheon, Mr Hu explained in great detail the new developments affecting foreign
investment policies now that China is in the WTO, and provided practical answers to
questions raised by members. He also visited the Chamber the following day to meet with
Stanley Ko, chairman of the Hong Kong Coalition of Service Industries. Mr Hu said China
can learn from Hong Kong's experiences in developing its service industries and he
strongly encouraged cooperation between Hong Kong and China's service industries. |
¡@
| Mainland logistics bubble looms
Ding Junfa, vice executive chairman of
the China Federation of Logistics & Purchasing, told members at the Chamber's March 26
roundtable luncheon that he hopes the Central Government will devise an integrated plan to
develop the Mainland's logistics industry and avoid any overlapping of investments.
Mr Ding said Beijing is trying to
prevent the logistics sector from ballooning into a bubble, similar to that of the dot-com
bubble, which is being created through rapid investment in the sector.
The State Planning and Development
Commission and other Mainland authorities were in the process of drafting a framework to
regulate the sector's growth to stop it running off the rails.
Part of the problem is that many
Mainland cities are now rushing to develop a logistics industry without really
understanding what is involved. A shortage of trained personnel is also forcing them to
import overseas talent, which is driving their costs up, he said.
But he pointed out that it is not
just big investments that are running the risk of creating an over supply of services,
many companies are using their own purchasing departments as logistics departments which
could add to the oversupply of services, he said.
Listen >>
(In Mandarin) |
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