Brad Horn/Nevada Appeal
Donald Tong, Hong Kong commissioner for Economic and Trade Affairs in the United States, came to Carson City Wednesday to spread the word that the former British colony is an important business gateway to Mainland China.
Tong wants to dispel the notion that Hong Kong is just like China when it comes to business. Although Hong Kong officially became a part of the China in 1997, it still retains a large amount of autonomy over all of its affairs outside of national defense and foreign affairs.
"We have a mini constitution that sets out the way of doing things in Hong Kong," Tong said, referring to the agreement that reunified it with the mainland. "Eleven years down the road, people have more confidence in the one country/two system concept."
That confidence was not as prevalent in the late '80s and early '90s, as the some of the best and brightest fled Hong Kong in advance of the handover, Tong recalled. But since then, Hong Kong has proved the critics wrong, as it has flourished under its new status.
Tong cited how this small area with seven million residents has become an economic powerhouse, with 68 of the world's top 100 banks, is the 12th largest trading economy in the world, and has the seventh largest stock market. It's also ranked as the freest economy in the world. The message Tong had for local businesses that are thinking of doing business in China is to look at Hong Kong first.
"For those who may not be that familiar with the China market, Hong Kong would be a good starting point," Tong said.
Tong cited Hong Kong's independent legal system and respect for the rule of law, freedom and civil liberties as an asset to those wishing to do business in China. Hong Kong companies, even those owed by foreigners, can also enjoy special trade rules with Mainland China.
"We've been doing business with China for 40 years, and we know the culture," Tong said. "Networking is very important on the mainland. The Hong Kong businessmen, because of their decades of networking on the mainland, they know the administering officials, they know the business network. This is an asset that makes it easier for American companies."
The Hong Kong Economic & Trade Office in San Francisco offers free help for companies wishing to do business there. They can put companies in touch with a huge network of business professionals, and will help them find the contacts they need to get started.
- Contact Kirk Caraway at kcaraway@nevadaappeal.com.
"Hong Kong people know international business protocol, and they also know the Chinese way of doing things," Tong told a luncheon audience at the Gold Dust West, co-sponsored by the Carson City Chamber of Commerce. "This is very important, and we did not learn this through lectures. We learned this through 40 years of experience. Our entrepreneurs, since the opening of China, have established a major presence in the mainland."