NEWS Spring 2014 Issued by the Hong Kong Economic and Trade Office, Brussels Mr José Manuel Barroso signs the golden book at Government House during his visit to Hong Kong. (Page 2) HM Queen Mathilde of the Belgians officiates at Business of Design Week (Page 14). The President of the Legislative Council, Mr Jasper Tsang (fifth from left) with Mr Barroso (sixth from left) and members of the EU delegation. President of the European Commission José Manuel Barroso in Hong Kong The President of the European Commission, Mr José the way for deeper co-operation with Hong Kong and Manuel Barroso, visited Hong Kong and Macao on 22-23 the region for sustainable growth. Europe and Asia November 2013, following his first official visit there as represent half of the world population, 55% of world Commission President in 2005. trade and more than half of the world’s GDP. Mr Barroso met with Hong Kong’s Chief Executive, Mr CY “These are impressive figures, which show the centrality Leung and the President of the Legislative Council, Mr of Europe-Asia relations in today’s world. This relation Jasper Tsang. He also attended a ceremony to mark the is indeed key for the world’s prosperity and stability,” 20th anniversary of the establishment of the European Mr Barroso said. Union (EU)’s Office in Hong Kong. Mr Leung told Mr Barroso that since its establishment 20 years ago, the EU Mr Barroso also pointed out that one of the pillars of office in Hong Kong had made a significant contribution relationship between Europe and Asia and even global in fostering the bilateral relationship between Hong Kong growth is the EU-China relationship. and EU. “We now have dialogue in almost all areas relevant to Addressing the Hong Kong business community at an each other’s development. And at the very heart is our event organised by the European Chamber of Commerce, support for the “one country, two systems” principle and Mr Barroso noted that it was precisely 500 years after the our unique relations with the two Special Administrative firstE uropean contact with Hong Kong, when Portuguese Regions, Hong Kong and Macao. explorer Jorge Álvares, arrived in 1513. “Our relationship is based on shared interests, shared Mr Barroso said that Hong Kong was a thriving and prospects and a shared view on basic principles such as dynamic city, an important regional hub for trade and free trade, transparency and the rule of law. investment and the EU would remain a very close partner of the Special Administrative Region. “Our relations “Hong Kong hosts a vibrant civil society and it serves are strongly anchored in history but are continuously fundamental freedoms. The judiciary and legal projected into the future.” professions remain strong pillars upholding the rule of law and zealously guarding its status. Hong Kong was The EU and Hong Kong have benefited from a fruitful always at the forefront of establishment of rule of law in trade and investment relationship. Europe’s post-crisis this part of the world. That is also why the EU established reform has made its economy more competitive, paving a diplomatic mission in the city in November 1993.” 2 HONG KONG NEWS Spring 2014 Contents NEWS Spring 2014 COOPERATION WITH EUROPE President of the European Commission José Manuel Barroso in Hong Kong 2 Secretary for the Environment visits the Netherlands on waste management policy 4 Croatia’s First Deputy Prime Minister in Hong Kong 4 Romanian Chamber of Commerce opens in Hong Kong 5 FINANCE Financial Secretary sees opportunities for cooperation with Paris on Renminbi internationalisation 6 7th Asian Financial Forum focuses on Asian markets powering global growth 7 GOVERNMENT POLICY Strengthening Hong Kong’s competitiveness is the focus of annual Policy Chief Executive Mr CY Leung welcomes President of the European Address and of Budget 8 Commission Mr José Manuel Barroso to Hong Kong BUSINESS Hong Kong ranked world’s freest economy for the 20th consecutive year 9 Hong Kong named the Best City for Business Events three years in a row 9 Mr Barroso said that European companies are Mainland China and Hong Kong Customs sign Mutual Recognition playing a key role in Hong Kong’s economy: roughly Arrangement to facilitate goods clearance 10 2 000 European firms are based in Hong Kong, of Flemish SMEs told of Hong Kong business opportunities at seminar in Kortrijk 10 which 450 are in fact regional headquarters. Good response to Athens and Thessaloniki seminars on Hong Kong business opportunities 11 In addition, European products in the last two Winners announced in InvestHK’s 2013 global start-up contest 12 years have grown particularly on the back of Hong Kong, a reliable partner for the success of Bulgarian enterprises in Asia 12 robust demand for luxury goods, food, wine, cars Hong Kong International Wine & Spirits Fair attracts record numbers of and machinery. exhibitors and buyers 13 CREATIVE INDUSTRIES “Hong Kong is Europe’s 20th largest trading partner Belgian Spirit brings the best of Belgian creativity to Hong Kong at Business for trade in goods and our surplus is increasing, of Design Week 14 with a record of EUR 23 billion out of a total trade Admission of talented people, professionals and investors to Hong Kong 15 in goods of EUR 44 billion. Film pioneer and philanthropist Sir Run Run Shaw dies 16 CULTURAL EVENTS “European investments keep coming in. European HKETO, Brussels hosts Chinese New Year receptions in 12 European cities 17 products are in demand and European citizens Hong Kong Film Panorama in Lisbon and Porto 20 want to come here, too. This all shows we are Hong Kong Film Panorama celebrates 10th Anniversary at the EYE in excited about Hong Kong’s potential in the years Amsterdam 20 to come”. INFRASTRUCTURE Cathay Pacific Cargo Terminal increases airport’s cargo handling capacity by 50% 21 Mr Barroso said that Hong Kong also contributes CREATIVE INDUSTRIES greatly to the European economy, ranking as the Tsui Hark honoured with the Maverick Director Award at 8th Rome Film 8th largest investor in the EU in 2011 in terms of Festival 21 stock and 6th in terms of flows. He noted that Hong LIAISON WITH HONG KONG COMMUNITIES IN EUROPE Kong was often the starting point for European Financial Secretary meets with Hong Kong citizens in Paris 22 companies for their activities in the rest of Asia. NEWS IN BRIEF Forthcoming events 22 “With 176 European companies registered as Hong Kong to destroy ivory stockpile 22 “Hong Kong Service Suppliers”, the EU is also the Government prepares for introduction of universal suffrage 23 leading source of foreign companies using Hong Ireland to open Consulate-General in Hong Kong 23 Kong as the hub to Mainland China, enjoying the Hong Kong Government bans shark fin at official functions 23 provisions of the Closer Economic Partnership Top Hong Kong Chef in Paris 23 Arrangement (CEPA),” Mr Barroso said, adding SPORT that 17% of all European investment in the Hong Kong opens international-standard Velodrome 24 Mainland flows through Hong Kong. HONG KONG NEWS Spring 2014 3 Secretary for the Environment visits the Netherlands on waste management policy Mr Wong then attended a luncheon meeting with the Vice Mayor of Amsterdam, Ms Carolien Gehrels, and other officials during which both sides exchanged views on environmental issues of mutual concern. In the afternoon, Mr Wong proceeded to the Hague to meet with the Secretary General of the Ministry of Infrastructure and the Environment, Mr Siebe Riedstra, and local environmental experts to learn about the waste The Secretary for the Environment, Mr Wong Kam-sing (front row, centre), is management policy in the Netherlands and exchange briefed by a representative of the Afval Energie Bedrijf Waste Fired Power Plant views on various environmental issues, including waste in Amsterdam on the operation of the world’s largest waste-to-energy plant. treatment infrastructure. Hong Kong’s Secretary for the Environment, Mr Wong Hong Kong and the Netherlands signed a Statement of Intent Kam-sing, visited the Netherlands on 5 March 2014 on waste management collaboration on 6 May 2013. as part of a European tour to learn about the overall waste management policies in the United Kingdom, the Netherlands, Denmark and Sweden. He exchanged views with local officials and environmental experts on waste reduction and recycling, social mobilisation and waste- related infrastructure. He also took the opportunity to visit various waste-to-energy facilities. In Amsterdam, Mr Wong first visited the Afval Energie Bedrijf Waste Fired Power Plant, the world’s largest waste-to-energy plant, which treats 4 400 tonnes of waste per day using the moving grate technology. Hong Kong is planning a waste-to-energy facility in Shek Kwu Chau using the moving grate technology, to treat 3 000 tonnes of waste per day. During his tour of the facility, Mr Wong learned about how the plant generates energy and heat for the city, Mr Wong shakes hands with the Vice Mayor of Amsterdam, Ms Carolien Gehrels, and extracts metals for recycling after waste treatment. at the luncheon meeting. Croatia’s First Deputy Prime Minister in Hong Kong Croatia’s First Deputy Prime Minister included business opportunities in and Minister of Foreign and European Hong Kong and using the city as a Affairs, Dr Vesna Pusić, visited Hong stepping stone to Mainland and Kong as part of an official visit to China Asian markets. Sectors of particular from 4 to 8 November 2013 which also interest to Croatia are wine, tourism covered Beijing and Shanghai. and port development. In Hong Kong, Dr Pusić and delegation Dr Pusić also met with the community members met with Chief Secretary for in Hong Kong, and gave a lecture Administration, Mrs Carrie Lam and on “Models of Political Transitions Permanent Secretary for Commerce in Europe” at the Sociology and Dr Pusić, who holds a doctorate in Sociology, gave a and Economic Development International Cooperation Department lecture to students at the Lingnan University in Hong (Commerce, Industry and Tourism), of the Lingnan University on 8 Kong during her visit.