Hong Kong Circle
Hong Kong Economic and Trade Office in Washington D.C. Newsletter (Text Only Version)
January 2007
Hong Kong Remains World's Freest Economy for 13th Consecutive Year
Appointment of Hong Kong SAR Representative to World Trade Organization
Positive Results for Investment Promotion in Hong Kong During 2006
Hong Kong and Shenzhen Promote Investment Opportunities to U.S. Investors
U.S. Office Furniture Maker Targets China Market through Hong Kong Base
Momentum Builds at Asia's Top Trade Fair Hub
Luxury Brands' Window to Mainland China
Wine Enthusiast Establishes Presence in Hong Kong
Dear Friends,
The year 2007 began with welcome news as the Washington-based Heritage Foundation released the 2007 Index of Economic Freedom, the 13th edition of the annual study on the level of economic freedom around the globe.
The study, jointly published by The Wall Street Journal, ranked Hong Kong the world's freest economy for the 13th consecutive year.
The accolade is particularly noteworthy this year as we approach the milestone of the 10th anniversary of the establishment of the Hong Kong Special Administrative Region.
The study's findings, which elevate the city's profile as an international financial and business center, demonstrate that since the hand-over on July 1, 1997, Hong Kong remains resolutely committed to the free-market principles and the rule of law which grant it such notable distinction.
I recently shared the achievements of Hong Kong's free-market philosophy – which is part-and-parcel of the greater Hong Kong story – with investors, students and senior state government officials during a January visit to Texas.
Yours ever,
Margaret Fong
Hong Kong Commissioner, USA
Hong Kong Remains World's Freest Economy for 13th Consecutive Year
Hong Kong has been ranked as the world's freest economy by the Heritage Foundation and The Wall Street Journal for the 13th consecutive year in the 2007 Index of Economic Freedom.
According to the study, Hong Kong scores extremely well in almost all areas of economic freedom.
Among the 10 individual areas assessed, Hong Kong ranks first in four – trade freedom, investment freedom, financial freedom and property rights. Hong Kong also ranks in the top 10 in four other areas – fiscal freedom, freedom from government, monetary freedom and labor freedom.
The study notes that Hong Kong's income and corporate tax rates are extremely low, and overall taxation is relatively small as a percentage of GDP.
It also reports that Hong Kong's business regulation is simple, the labor market is highly flexible, and investment in Hong Kong is open, with virtually no restrictions on foreign capital.
The Heritage Foundation complimented Hong Kong on being one of the world's leading financial centers, with extensive banking and services industries which are transparent and regulated non-intrusively. In addition, the judiciary, independent of politics and virtually free of corruption, demonstrated an exemplary ability to protect property rights.
Welcoming the news, Hong Kong Financial Secretary, Henry Tang, commented, "We will study the report carefully and will strive to preserve fervently those strong aspects of our economic freedom, whilst enhancing those other aspects where there is room for further improvement."
The study measured the degree of economic freedom of 157 economies worldwide by assessing 10 factors.
Within the rankings, Hong Kong was followed by Singapore, Australia and the United States.
According to the Heritage Foundation, the methodology for this year's assessment had been revised to provide a more refined and clearer picture of economic freedom.
2007 Index of Economic Freedom: http://www.heritage.org/research/features/index/
Appointment of Hong Kong SAR Representative to World Trade Organization
On January 19, 2007, the Hong Kong Special Administrative Region Government announced that Deputy Secretary for Financial Services and the Treasury (Treasury), Martin Glass, would take up the post of Permanent Representative of the Hong Kong Special Administrative Region of China to the World Trade Organization.
Mr. Glass will succeed Tony Miller who will proceed on pre-retirement leave.
Secretary for the Civil Service, Denise Yue, said Mr. Glass was an experienced Administrative Officer with a strong record in public administration and proven leadership and management abilities. "I am confident that he will continue to serve the community with professionalism and dedication in his new capacity, and ably lead his office to meet the challenges ahead," she said.
Miss Yue said Mr. Miller had rendered 34 years of loyal and dedicated service to the community and had made exemplary contributions to the development of Hong Kong in various spheres, including the success of the sixth World Trade Organization Ministerial Conference held in Hong Kong in 2005.
Brief biographical notes on the two officers are set out below.
Martin McKenzie Glass, JP
Mr. Glass joined the Administrative Service in June 1984, and rose to his present rank of Administrative Officer Staff Grade B1 in January 2001.
Mr. Glass has served in various bureaus and departments, including the former Economic Services Branch, the former Finance Branch and the former Finance Bureau. He was on secondment to United Kingdom Department of Transport from October 1990 to March 1993. He has been Deputy Secretary for the Treasury, later re-titled as Deputy Secretary for Financial Services and the Treasury (Treasury), since January 1997.
John Anthony Miller, JP
Mr. Miller joined the Administrative Service in September 1972, and rose to his present rank of Administrative Officer Staff Grade A in January 1993.
Mr. Miller has served in various bureaus and departments, including the former Urban Services Department, Home Affairs Department, the former Housing Branch, the former Government House, Housing Department, the former Councils and Administration Branch, the former Administrative Services and Information Branch and the former Trade Department.
He was the Information Coordinator from April 1989 to October 1991; Director of Marine from October 1991 to March 1993; Director-General of Trade from March 1993 to July 1996; Director of Housing from July 1996 to June 2002, and Permanent Secretary for Financial Services and the Treasury (Financial Services) from July 2002 to July 2004.
He has been Permanent Representative of the Hong Kong Special Administrative Region of China to the World Trade Organization since August 2004.
Positive Results for Investment Promotion in Hong Kong During 2006
Investment promotion in Hong Kong achieved positive results in 2006. At a year-end press conference held on January 9, 2007, the Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, announced that the department assisted 246 overseas, Mainland China and Taiwan companies to set up or expand operations in Hong Kong during 2006 – representing a healthy growth of 6 percent over 2005, itself a record year.
The investing companies expect these 246 projects to lead to the creation of over 7,835 jobs. This includes more than 3,092 jobs initially, and an additional 4,743 jobs in the next two years as these companies expand.
Year of Steady Growth
Mr. Rowse welcomed the results, stating that they suggest Hong Kong remained a highly attractive location for overseas and regional companies to do business in the region.
While encouraged by the positive results, Mr. Rowse cautioned that Hong Kong must not be complacent as competition in the region was keen. He said the Hong Kong government was committed to understanding and addressing the needs of the international business community in Hong Kong.
"We recognize the importance of continuing to improve our investment environment so that investors will continue to find Hong Kong an attractive place from which to do business in Asia," said Mr. Rowse. "And we at Invest Hong Kong will strengthen our effort to assist foreign, Mainland and Taiwan companies with the establishment and expansion of their businesses in our city."
Hong Kong's Role as Regional and Global FDI Destination
Hong Kong also has maintained its leading position as the preferred destination for foreign direct investment (FDI). According to the "World Investment Report 2006" released by the United Nations Conference on Trade and Development (UNCTAD), Hong Kong remained the second largest FDI recipient in Asia, after Mainland China. FDI inflows to Hong Kong in 2005 reached US$33.5 billion. On a global scale, Hong Kong ranked 6th in FDI inflows in 2005.
Overall foreign direct investment (FDI) into Hong Kong continues to be strong. Hong Kong's Census and Statistics Department reported FDI inflows of US$29.6 billion during the first three quarters of 2006, some $40.29 billion higher than the same period of 2005.
Moreover, the number of regional operations in Hong Kong reached new highs in 2006, demonstrating that Hong Kong remains the preferred base in Asia for foreign companies to oversee their regional operations.
As at June 1, 2006, there were 3,845 companies that were regional headquarters and regional offices, 2,509 companies that were local offices in Hong Kong of companies incorporated outside Hong Kong, according to results of the "2006 Annual Survey of Companies in Hong Kong Representing Parent Companies Located outside Hong Kong" conducted by the Census and Statistics Department.
Highlights of 2006
Hong Kong's unique positioning as the gateway to Mainland China and the business hub of Asia has attracted companies from different industries to set up operations to access clients in the region. For example, the Chicago Mercantile Exchange opened its Asia Pacific regional headquarters in Hong Kong to increase the level of services to its Asian-based customers; Bayer MaterialScience opened its Asia Pacific headquarters in Hong Kong to oversee the regional management functions of its business and service units; and Methanex, the world's largest producer and marketer of methanol, relocated its Asia Pacific marketing and logistics operation to Hong Kong.
As part of continued efforts to promote the city's unique position as a base for foreign companies to expand into the Pearl River Delta, Invest Hong Kong published the fourth edition of a study, "The Pearl River Delta - the Facts and Figures", written by Professor Michael Enright of the University of Hong Kong and Edith Scott.
Since the first edition in 2003, the booklet has become one of the most important sources of credible facts and figures about the Greater Pearl River Delta, which includes Hong Kong and Macau. Data provided by the booklet is often referred to by investors in their business development plans for Hong Kong and the PRD.
CEPA Effect
Since the implementation of the Closer Economic Partnership Arrangement (CEPA) in 2004, Invest Hong Kong has been actively organizing and participating in seminars in North America, Europe and Asia Pacific to promote the benefits of setting up operations in Hong Kong under CEPA to potential investors.
The department also measures CEPA's impact on companies' investment decisions. The department found that out of the 246 investment projects completed in 2006, 61 companies (25 percent) indicated that CEPA was one of the factors considered in making the investment. Some 22 companies invested because of CEPA, while some of the 61 companies accelerated their investment plans, and/or invested more capital or employed more staff as a result of CEPA. Similar levels of CEPA's effect on investment have been recorded since it took effect in early 2004.
Looking Forward
In 2006, Invest Hong Kong had successfully attracted investments from different sectors including consumer products, retail, sourcing, financial services, tourism, catering, IT, technology, telecommunications, media and multimedia, professional services, transportation and manufacturing.
Invest Hong Kong's Mr. Rowse said that to help retain existing investors and to encourage their expansion in Hong Kong, Invest Hong Kong would reinforce its after-care services, which include, among other things, assistance with regulatory issues and identifying international schools for the children of ex-pats.
The department also remains committed to its targeted investment promotion activities in both traditional investment source markets and emerging markets.
Mr. Rowse is optimistic about the investment promotion outlook for 2007 and Invest Hong Kong's efforts to retain and attract more companies of strategic importance; companies which not only offer employment opportunities, but also new skills and technologies.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating investment into the city by providing the support needed to establish or expand a business presence.
Invest Hong Kong: www.investhk.gov.hk
Hong Kong and Shenzhen Promote Investment Opportunities to U.S. Investors
On January 17, 2007, U.S. investors attended the investment promotion event, "Hong Kong and Shenzhen: Your Winning Formula in China," held at The Ronald Reagan Building and International Trade Center in Washington, D.C.
The response from the U.S. business community was significant, with more than 170 senior executives from U.S. companies in attendance.
The seminar was the seventh collaboration between Invest Hong Kong and Shenzhen Bureau of Trade and Industry (BTI). Attendees at the seminar were updated on the latest business opportunities in the Greater Pearl River Delta, as well as instructed on how U.S. companies could leverage the unique advantages of Hong Kong and Shenzhen to invest in Mainland China.
The Hong Kong and Shenzhen delegations were led by the Director-General of Investment Promotion, Mike Rowse, and the Deputy Director-General of Shenzhen BTI, Wang Xiaochun. Mr. Rowse and Mr. Wang delivered keynote speeches at the seminar.
Mr. Rowse commented that the U.S. had always been an important strategic partner for companies in Hong Kong, noting that the U.S. had the largest international business community in Hong Kong with over 1,100 companies, including some 890 regional headquarters and offices. The companies are engaged in a variety of businesses, including financial services, information technology (IT), professional services, tourism and entertainment, transportation and logistics, retail and sourcing.
Mr. Wang reported that with over 20 years of development, Shenzhen had achieved a leading position in many sectors in Mainland China, including high-technology, financial services and logistics.
He reported that Shenzhen was now the third most competitive city in China.
"At present, there are 1,070 investment projects by U.S. companies in Shenzhen involving an investment of US$2.58 billion," reported Mr. Wang. "These companies are involved in a variety of business sectors, such as mechanical engineering, IT, bio-engineering, computer and software and chemical engineering."
Among the speakers at the seminar were Scott Hallford, Senior Consultant for International Affairs of FedEx; Wendy Cai-Lee, Director of the Chinese Services Group of Deloitte & Touche; and Xinyue Jasmine Geffner, Regional Head, Americas, China International Business Development of HSBC.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating investment into the city by providing the support needed to establish or expand a business presence.
Invest Hong Kong: www.investhk.gov.hk
U.S. Office Furniture Maker Targets China Market through Hong Kong Base
After the acquisition of Hong Kong-based Lamex in March 2006, U.S.-based office furniture manufacturer HNI Corporation announced on January 16, 2007, the grand opening of its Lamex flagship showroom in North Point, Hong Kong.
The Lamex acquisition assists HNI Corporation in driving its business development of the Mainland China and Hong Kong markets.
Commenting on the inclusion of Lamex in its group of companies, Chairman, President and CEO of HNI Corporation, Stan Askren, said that Lamex's strong brand, significant customer base and manufacturing capabilities, offered HNI Corporation the opportunity to drive aggressive growth in Mainland China, one of the largest and fastest growing office furniture markets in the world.
Commenting on the advantages of Hong Kong as part of the company's growth strategy, Mr. Askren said the uniqueness of the city – with its "independent legal system, excellent financial environment, vibrant culture and central location" – made it an ideal place for overseas investors to expand their operations.
Lamex is an established and recognized market leader in the design, manufacturing and marketing of office furniture sold in Mainland China and Hong Kong. Its acquisition will allow HNI Corporation to tap Lamex's strong regional presence, which includes showrooms and sales offices in Hong Kong, Shanghai and Beijing, as well as a network of franchisees throughout Mainland China.
Branded under Lamex, the new flagship showroom showcases international award-winning office furniture, including chairs designed by the well-known U.S. brand Allsteel. The showroom aims to provide a one-stop service for clients - offering expert advice and a wide variety of office furniture options under one roof.
Founded in 1944, the New York Stock Exchange-traded HNI Corporation provides products and solutions for home and workplace environments. The company's 2005 sales reached US$2.45 billion.
The company was recognized for the eighth consecutive year as one of the 400 "Best Big Companies in U.S." by Forbes magazine, and was named one of "America's Most Admired Companies" by Fortune magazine.
HNI Corporation: www.hnicorp.com
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating investment into the city by providing the support needed to establish or expand a business presence.
Invest Hong Kong: www.investhk.gov.hk
An environmentally and socially responsible food company has opened its first store in Hong Kong.
ThreeSixty, located in the prestigious shopping center, The Landmark in Central, provides Hong Kong's largest range of natural and organic fresh produce, packaged groceries and "green" household goods, sourced from traditional artisans and producers from around the world.
A division of Hong Kong's Dairy Farm, the store opened in late November 2006, instantly making it the city's largest retailer of natural and organic foods.
Spanning two floors, ThreeSixty is divided into fresh and cooked food halls, positioning itself as "Central's ultimate meeting point and lifestyle destination."
Bruce Simon, Store General Manager, said ThreeSixty was "leading the food revolution" by educating and inspiring customers to live healthier and better lives with a greater sense of well-being.
ThreeSixty encourages individuals to make an impact on global challenges – such as climate change, renewable resources, child nutrition, sustainable consumption and fair trade practices – through small, everyday decisions.
"We believe that every choice affects another and that by our own attitude, behavior, approach and care for the environment, we can each make a real and lasting difference in our life, our world and our future," said Mr. Simon.
In addition to fresh and cooked food, ThreeSixty provides dedicated information and products focused on special dietary considerations such as children's nutrition and gluten-free. It also runs an in-store wellness center staffed by experts in naturopathic and homeopathic medicine providing pure, natural and organic health supplements and beauty products.
Special events – the first featuring cooking demonstrations of world-class spa cuisine by celebrity chef Felix Schoener of The Farm at San Benito, Philippines – will also be part of ThreeSixty's healthy living experience.
The store uses environmentally friendly and recycled materials, and energy efficient systems and processes. It counts non-profit organizations Oxfam, WWF and Changing Young Lives Foundation as "community partners," offering volunteer support and product sponsorship.
Ed Chan, Regional Director for North Asia, Dairy Farm group, said ThreeSixty tapped into the growing consumer demand for organic, natural and environmentally friendly products.
"In Hong Kong, we aim to open a small number of high-profile locations for ThreeSixty in the next few years starting with our next store in Union Square in the next 18 months," he said. "Once the ThreeSixty brand is established in Hong Kong, the group may look at further expansion elsewhere in the region."
Mr. Chan added that as an international city, Hong Kong was at the forefront of Asian countries in regards to healthy living and social responsibility.
ThreeSixty is part of the Dairy Farm group, a leading pan-Asian retailer which operates 2,902 outlets including supermarkets, hypermarkets, health and beauty stores, convenience stores, home furnishing stores and restaurants, as well as employing some 60,000 people in the region.
In 2005, total sales reached US$5.5 billion.
ThreeSixty: www.threesixtyhk.com/
Momentum Builds at Asia's Top Trade Fair Hub
Hong Kong's dynamic exhibition and trade fair sector looks set for another strong year in 2007, industry insiders say.
The opening of the city's second major venue, AsiaWorld-Expo, removed an infrastructure bottleneck and brought about 20 new events to Hong Kong in 2006, commented Paul Woodward, Regional Manager of UFI, the global association for the exhibition industry.
"When you add it all up - the existing events and the new ones at the AsiaWorld-Expo - we've had a good year," said Mr. Woodward.
He reported that the industry recorded substantial growth of about 25 percent in 2006 in terms of exhibition space sold.
AsiaWorld-Expo, adjacent to the Hong Kong International Airport, adds a new dimension to an industry already well-served by the city's signature downtown venue, the Hong Kong Convention and Exhibition Centre (HKCEC).
One of the year's highlights was the staging of the ITU Telecom World, which was held in Hong Kong for the first time. The event, which drew 62,000 visitors from 141 countries, was the biggest trade exhibition ever held in Hong Kong.
"This success proves Hong Kong is capable of holding such a large-scale international event," said Allan Ha, Deputy Chief Executive of Asia World-Expo, the host venue.
Mr. Ha expects the industry's rapid expansion to continue in 2007, underpinned by Mainland China's surging growth and increasing links to international trade. He said most events held at AsiaWorld-Expo will return in 2007, such as the China Sourcing Fairs.
A highlight of 2007 will be the annual Asian Aerospace International Expo and Congress in September, which is moving permanently to Hong Kong from Singapore.
According to 2005 data, the latest data available, Hong Kong continues to be the leading venue for exhibitions in Asia, excluding Japan.
A record 41,599 companies took part in Hong Kong shows in 2005, up 59 percent from the 26,097 in 2000, according to Hong Kong Exhibition and Convention Industry Association (HKECIA) figures.
Shows from Mainland China are on the rise, up from just 2,000 in the year 2000 to 7,266 in 2005.
The Hong Kong Trade Development Council (TDC), which organizes some of the city's biggest trade fairs, reports a 15 percent rise of exhibitors at its shows, and a 23 percent rise in visitors (totaling 25,217 exhibitors and 538,000 visitors).
Benjamin Chau, TDC's Assistant Executive Director, said its exhibitions had grown larger in scale and breadth, with new fairs covering industries such as printing and packaging, auto parts, furniture and construction.
Among TDC's initiatives to keep growth rolling are a US$180 million extension to HKCEC, due to be completed in 2009, and a new global promotion campaign to raise the profile of TDC's trade shows.
Among the visitors, trade fair organizers report strong growth in buyers from Mainland China. Hong Kong's quality image is also attracting buyers looking to source the best possible goods for their needs.
Hong Kong's trade shows are playing an increasingly important role in facilitating business ties between low-cost Chinese producers and Western buyers looking to outsource the manufacture of their product lines.
The exhibitions industry plays an important role in Hong Kong's economy. A KPMG survey found that in 2004 the industry added US$2.4 billion to Hong Kong's economy that year – about half directly through spending by exhibitors, organizers and visitors. The other half comes indirectly via suppliers to the industry of goods and services.
The industry is estimated to have contributed about 1.5 percent of Hong Kong's gross domestic product (as against 1 percent in Germany and 0.8 percent in the UK); created 47,000 jobs; and generated US$91 million in tax revenues for the Hong Kong government.
Hong Kong's prominence on the trade fair world stage should be further enhanced by the appointment of Cliff Wallace, Managing Director of HKCEC, as Global President of UFI.
"Cliff Wallace's election as incoming president is a clear indication the UFI well understands the leading role that Hong Kong plays in the rapidly expanding Asia-Pacific exhibition industry," said Fred Lam, Executive Director of the TDC.
Hong Kong Convention and Exhibition Centre: http://www.hkcec.com/
AsiaWorld-Expo: http://www.asiaworld-expo.com/
Luxury Brands' Window to Mainland China
Hong Kong is increasingly the place to showcase international luxury brands.
The line-up of prestigious brand names positioning themselves in Hong Kong reads like a who's who of style, with Hong Kong now boasting more stores per luxury brand than London, New York or Paris.
The city also has the largest stores of luxury brands outside Japan. In upmarket mega-malls across Central, the Hong Kong flagships of Giorgio Armani, Louis Vuitton, Chanel, Gucci, Dior and Prada rank amongst the six largest in the world.
Luxury "in abundance" is attracting both brand names and shoppers alike to Hong Kong, said Paul Husband, Managing Director of Husband Retail Consulting Ltd.
"The city offers luxury in every type of setting, from the streetscape of Central - one of the great shopping districts of the world - to world-class hotels such as The Peninsula, and mega malls such as Harbour City and Pacific Place."
Mr. Husband commented that shoppers are drawn by the huge number of brands, both established brands and new market entrants like Valextra from Milan, Asprey from London, Brioni from Italy and H&M from Sweden.
Hong Kong's retail prestige was also the reason Asprey - billed as "the ultimate authentic British lifestyle house" - opened a store in The Peninsula Hotel shopping arcade as part of the brand's international expansion.
Mainland China Showcase
Brands also use their Hong Kong presence as a showcase to Mainland China.
According to KPMG, in 1999 a "relatively low" US$6 million was needed to rank among Forbes Magazine's "50 Richest People in China." In 2005, however, the figure shot up to US$140 million to gain a place in the top 100.
A newly released KPMG report on luxury brands in Mainland China shows that consumer demand for luxury is spreading.
"Interestingly, the appetite for luxury brands is not restricted to the more established cities such as Beijing, Shanghai and Guangzhou," said Mark Larson, KPMG's Global Head of Retail. "The survey findings show that brand awareness and desire for luxury brands in the second-tier cities is similar to the primary cities."
Paul Husband, author of new book, "The Cult of the Luxury Brand," said the sheer number of visitors to Hong Kong makes the city the ideal showcase for brands.
"With China now responsible for over 15 million visitors to Hong Kong annually, it is a true test market and marketing opportunity for luxury brands entering or expanding in the Mainland."
Husband Retail Consulting Ltd: www.husband-retail.com/
KPMG: www.kpmg.com/
Film entrepreneurs and movie fans around the world are in for an early spring treat with an upcoming film mega event to be held in Hong Kong.
Three events – Hong Kong International Film Festival (HKIFF), International Film & TV Market (FILMART) and the Hong Kong-Asia Film Financing Forum (HAF) - will, for the first time, open simultaneously in the city.
The triple header will kick off March 20, 2007 featuring the latest films from around the world, along with a who's who of the international movie industry.
Peter Tsi, Executive Director of the Hong Kong International Film Festival Society and organizer of HAF, said this year's event would be a global affair.
"Heavyweight titles that will appeal to international audiences will make their debut here, boosting Hong Kong's status as a film trade and film financing platform."
About 450 exhibitors from 30 countries and some 4,000 international industry players are expected at the three mega events.
"With HKIFF, FILMART and HAF kicking off at the same time, visitors can view and source a wider variety of distribution," said Raymond Yip, Assistant Executive Director of the Hong Kong Trade Development Council (HKTDC), the organizer of FILMART.
"At the same time, they can also consider investing or participating in the film projects on offer."
Industry Platform
FILMART, held March 20 – 23, 2007, is Asia's largest cross-media entertainment market for film, TV, animation, digital entertainment, post-production services and filming locations. "It is also an ideal platform for industry players to promote themselves, network with others and strike deals," added Mr. Yip.
HKIFF, held March 20 - April 11, 2007, will focus on world film premieres and planned activities for the press, while Hong Kong Asia screenings will promote some of the entries from Asian film directors and companies.
HAF, held March 20 – 22, 2007, is a film project market that helps promising Asian film makers to find partners to produce their films. It also provides a unique opportunity for film makers to discuss their projects in private with film financiers, producers, distributors, buyers and other film-related businesses.
All three events - HKIFF, FILMART and HAF - will be held under the banner of Entertainment Expo which will showcase film, digital entertainment, music and TV under one roof.
Entertainment Expo: http://www.eexpohk.com/
FILMART: www.hkfilmart.com/hkfilmart/
HKIFF: www.hkiff.org.hk/
HAF: www.haf.org.hk/
Wine Enthusiast Establishes Presence in Hong Kong
Growing up in California's Sonoma region, Debra Meiburg, a chartered public accountant by profession, never thought she would have a grape career based in Hong Kong.
Now she gives wine lectures, writes a weekly newspaper wine column and is currently working on her dissertation for the prestigious Master of Wine title.
The former wine professor at the Rochester Institute of Technology in upstate New York, says "work hard, play hard" Hong Kong is the best place for an oenophile like her.
"I grew up in Sonoma wine country surrounded by vineyards but unfortunately my family was never in the wine business. I became a CPA but my true love was languages.
In my earlier years, I was an exchange student in El Salvador, Central America and traveled a great deal in Germany when I was young. Somebody suggested I tried working in this part of the world so I joined PricewaterhouseCoopers in Hong Kong for three years and after that, ran a non-profit exchange program, AFS Intercultural Programs.
In the 1990's, I took wine courses from the Wine Institute of Hong Kong as it seemed the fun thing to do. My fascination with wine became a 'hobby gone wild' and years later, I found myself seeking the highest title in the wine world: Master of Wine.
There are only 243 Masters of Wine in the world, but none in Asia, yet. For the Master of Wine title, there is no set curriculum, so we have to rely upon past exam questions and other Masters of Wine for guidance. I met two very good friends in Hong Kong who study with me.
To get more experience, I worked at several wineries in Chile, as a cellar hand in New York, pruned vines at a top winery in Bordeaux and spent all my free time attending wine conferences around the world.
Homeward Bound
I met my husband, Patrick, in Hong Kong and in 1997, when he was transferred to Rochester, New York, I became a wine professor at the School of Hospitality at the Rochester Institute of Technology where I taught wine appreciation and started a hospitality program targeted at international business and dining.
Three years later, we came back to live in Hong Kong and I have regarded it as my home since then. All that time, I was still studying and tasting wines from the classics to New World, writing a column for wine and also for a lifestyle magazine.
Two things launched my wine speaking career in Hong Kong. First, a friend asked me to donate a wine course for a charity function, which resulted in my conducting a wine tasting event in the auction winner's home. Attendees included pregnant women and some other tipsy guests and I was rather worried how the whole evening went.
As it turned out, it launched my career as some of the guests hired me to do wine appreciation classes for their corporate clients. Hong Kong is such a word-of-mouth village. If Hong Kong people like and trust you, you can achieve anything here.
Companies value client relationships, so they are willing to invest in my programs. I don't think I could be nearly as successful as a 'corporate edutainer' anywhere else in the world; at least, I would not be able to command the fees I have been given.
Hong Kong is an affluent city; it's a 'work hard, play hard' kind of place where people have the financial means and are willing to spend on pleasures and pay for education.
Most of my engagements are for Hong Kong Chinese attendees but the level of English is very good which makes my job easier. I speak a bit of Cantonese, so I often make comments in Cantonese to liven up my lectures.
There is a vibrant international community here which is comforting to me as an expatriate. There is such a thirst for knowledge in Hong Kong which is good for me as I love teaching in a classroom setting and watching people's eyes light up.
Hong Kong is seen as an important wine market and the gateway to China which is the fourth largest wine bottler in the world. We have top level wines here and top wine producers and distributors come to Hong Kong. The city's proximity to the world's largest and fastest growing market is a distinct advantage and the consumption level is very high.
Recently, I gave a lecture on the Hong Kong and China markets in the Master of Wine Symposium in Napa Valley. It generated huge interest. My presentation was very well attended by over 600 people in the global wine industry as all eyes are on China. I pointed out the unique characteristics of these markets – for example, the bulk of wines drunk are red wine which is perceived as healthier and luckier and wine labels are often in red or gold or a combination of both.
I am so lucky to be in Hong Kong as it is a very international city and has access to a wide range of wines which you can't get anywhere else. The city has a great lifestyle. Where else in the world can you hike in the hills in the morning, go to a wet market in the afternoon and then attend a glamorous Gucci party in the evening?
You can only do it in Hong Kong."
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