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September-October 2008 <Text Only Version> Chief Executive Delivers 2008-09 Policy Address Delivering his 2008-09 Policy Address, "Embracing New Challenges," to the Legislative Council, Chief Executive Donald Tsang unveiled a number of measures to address the global financial crisis, protect the public interest and upgrade Hong Kong's quality of life. Cato Institute Releases Report Ranking Hong Kong World's Freest Economy Hong Kong remains the world's freest economy according to the findings of the "Economic Freedom of the World: 2008 Annual Report" released by the Cato Institute. This marks the 12th consecutive year Hong Kong has topped the ranking. U.N. Reaffirms Hong Kong's Status as Asia's Leading City for International Business Hong Kong's status as one of the world's leading destinations for foreign direct investment (FDI) and sources of outward FDI has been reaffirmed by the World Investment Report 2008, released by the United Nations Conference on Trade and Development. Hong Kong Remains Leading Business Hub for Overseas Companies Hong Kong continues to be the top choice of location for overseas and Mainland of China companies to manage their regional businesses, according to annual survey jointly released by Invest Hong Kong and the Census and Statistics Department (C&SD). Wal-Mart Sets Up Asia Regional Headquarters in Hong Kong Wal-Mart Stores, Inc. announced the establishment of its new Asia regional headquarters. President and Chief Executive Officer for Wal-Mart Asia, Vicente Trius, said the Hong Kong regional headquarters will have strategic responsibilities for managing the company's current operations in Asia and for business development. Leading U.S. Hosting Provider Sets Up Asia Headquarters and Data Center Rackspace Hosting, a leading provider of IT hosting, announced the launch of its Asia headquarters and data center in Hong Kong to meet global customer demand. U.S. Software Firm Opens New Hong Kong Office With an eye to expanding its business in the Greater China region and to being closer to its existing clients, leading software firm Diskeeper Corporation has opened new offices in Hong Kong. American Jim Thompson on Living and Working in Hong Kong Jim Thompson, Chairman and Chief Executive of the Hong Kong-based Crown Worldwide Group of Companies, used his entire savings of US$500 to set up a moving company that has since become a leading global logistics firm. Mr. Thompson shares his experiences in the city he has called home for the past 30 years. New Colleagues at Hong Kong Economic and Trade Office, Washington, D.C. The office welcomes new colleagues Christine Au and Agnes Kwan. Playing a Round in Hong Kong's Spectacular Environs Hong Kong is becoming a golf lover's paradise with more options than ever to play a round. From a golf course right at the airport to the spectacular and challenging Kau Sai Chau Island course, golf in Hong Kong is accessible to all. Government Supports Developing Radio Frequency Identification Technology Secretary for Commerce and Economic Development, Rita Lau, said that with the clear objective of making Hong Kong a regional hub of innovation and technology, the Hong Kong Special Administrative Region government had been working consistently to promote the development of technology in areas where Hong Kong had a competitive edge. HONG KONG ECONOMIC AND TRADE OFFICE IN WASHINGTON D.C. 1520 18th Street, N.W., Washington, DC 20036 Tel: (202)331-8947 Fax: (202)331-8958
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