Hong Kong Forum Attracts Nearly 400 from 22 Countries

December 3, 2013, 1:47 am

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Event Spotlights Hong Kong as Asia's Central Business District

Hong Kong, Dec 3, 2013 - (ACN Newswire) - Close to 400 business leaders from 22 countries and regions are taking part in the 14th Hong Kong Forum, which opened this morning and continues through 4 December at the Hong Kong Convention and Exhibition Centre (HKCEC).

The two-day Forum is the annual gathering of the Federation of Hong Kong Business Associations Worldwide, which counts some 11,000 members in 35 associations around the world.

Hong Kong Trade Development Council (HKTDC) Chairman Jack So opened the Forum, noting that "Asia is the world's economic engine, led by mainland China and ASEAN, and their fast-expanding consumer markets." Hong Kong, he added, "has emerged as the region's central business district."

Promising Year

Mr So said that 2014 offered considerable opportunity for business. "Early next year, Hong Kong will begin negotiating a free-trade agreement with ASEAN, our second-largest trading partner." He said that there was also optimism globally, with the United States, the European Union and Japan poised to "see their first synchronised recovery since the global financial crisis," and the mainland focused on reform measures announced following the Third Plenum in November. "Together, they promise a less protectionist global trade landscape."

Special Status Attraction

BASF SE Vice Chairman, Board of Executive Directors, Martin Brudermuller also spoke this morning, at the "Hong Kong: Asia's Central Business District" plenary session. He said that BASF expects to double its sales, to 25 billion euros, by 2020, adding that by then "half of the global chemical market will be in Asia. But even more importantly: almost two-thirds of the Asian chemical market will be in China."

Mr Brudermuller added that Hong Kong was the company's Asia-Pacific headquarters because of its special status as much as its proximity to mainland China. "For me, the one country/two systems aspect is very important when dealing with customers or officials across Asia.

Speaking of Tomorrow

Today's luncheon dialogue, "Speaking of Tomorrow," presents three young Hong Kong businesspeople, including Oscar Chow, Executive Director of Chevalier International Holdings Ltd, and Brian Li, Deputy Executive Director, The Bank of East Asia Ltd.

China Today

This afternoon, the Forum features two "China Today" sessions. Speakers include Fang Fang, CEO China, JP Morgan Securities (Asia Pacific) Ltd, and Ji Defa, Chairman, Shanghai Step Electric Corporation.

Chief Executive to Speak

Tomorrow, Hong Kong SAR Chief Executive CY Leung will be the Forum's keynote luncheon speaker. While Mr Leung has participated before, this will be the first time he has addressed the Forum since taking office.

The Young Executive Programme will take place the day after the Forum. The half-day programme, 5 December, will offer Federation members under 40 the opportunity to gain a better appreciation of Hong Kong's business environment. A three-day side trip to Nanjing has been organised as well, leaving 5 December for the Jiangsu provincial capital.

IP and Design

Several major events are also taking place in Hong Kong this week. They include the Business of Intellectual Property Asia Forum, 5-6 December, HKTDC World SME Expo and HKTDC Inno Design Tech Expo, both running 5-7 December, and the Business of Design Week, 2-7 December. The HKCEC is the venue in each case.

- Forum Website: http://www.hkfederation.org.hk/forum/forum2013/
- Photo Download: http://filesharing.tdc.org.hk/hktdc/download.php?fid=_phpHrMaEB

About HKTDC

A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 12 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: http://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Contact :HKTDC
Corporate Communication Department
Joe Kainz
Tel: +852 2584 4216
Email: joe.kainz@hktdc.org
Copyright 2013 ACN Newswire. All rights reserved. www.acnnewswire.com Reported by ACN Newswire 2 days ago.

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The Hong Kong Institute of Directors Announces Winners of Directors Of The Year Awards 2013

December 3, 2013, 3:06 am

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Hong Kong, Dec 3, 2013 - (ACN Newswire) - The Hong Kong Institute of Directors ("HKIoD") announced and honoured winners of the Directors Of The Year Awards ("DYA") 2013 today at the 16th Anniversary Dinner of the Institute held at the Hong Kong Convention and Exhibition Centre. More than 600 guests from different industries and sectors were at the occasion to celebrate the winners' achievements in corporate governance excellence.

The evening was hosted by Dr Kelvin Wong, Chairman of The Hong Kong Institute of Directors, with Professor K C Chan, Secretary for Financial Services and the Treasury, as the Guest of Honour.

In its thirteenth year, the Awards carry the special theme of "Promoting ESG Policies - Adding Corporate Value by the Board" to recognise outstanding boards and directors committed to promoting environmental, social and governance ("ESG") policies that contribute to enhancing corporate governance standards and creating added value to their organization and to the society as a whole.

Professor K C Chan said, "As we shift towards an information and service-based economy, intangible assets represent an increasing weight in evaluating company value. Notably, there has been growing importance perceived in ESG performance and reporting globally. In order to stay competitive and uphold our status as an international financial centre, businesses in Hong Kong are encouraged to devise ESG policies of the highest standards which are also relevant and supportive to their core business development and sustainability. Boards and directors play an important role in driving these policies".

Dr Kelvin Wong said, "HKIoD wishes to honour boards and directors who have demonstrated outstanding performance and corporate social responsibility by integrating ESG practices into their operations. In our response to the consultation paper published by the Hong Kong Exchanges and Clearing Limited which sought comments to the proposed Environmental, Social and Governance Reporting Guide for issuers, HKIoD had expressed our support to improving corporations' awareness of the importance of ESG reporting. We believe a dedicated effort in implementing ESG policies contributes to achieving a high standard of corporate governance and creating sustainable value to the organization and beyond. In addition, we have introduced a new commendation this year to recognise a board awardee that demonstrates excellence in board diversity".

Mr Liu Tingan, Chairman of the Awards Organising Committee of DYA 2013 said, "Congratulations to all winners of the Awards who have undergone our rigorous selection process and proven themselves to be exemplars in leading organizations to accomplish a higher corporate governance standard through ESG initiatives. We are delighted to see more and more corporations putting in efforts in the pursuit of excellence in ESG policies in addition to existing corporate governance requirements. We hope that they will serve as role models to other organizations and continue to promote the importance of ESG policies to create greater value for their stakeholders and society at large".

Dr Carlye Tsui, CEO of HKIoD said, "HKIoD continues to advocate the importance of strengthening corporate governance standards and we believe promoting ESG policies is an important step forward. We strongly believe that the Board should formulate ESG policies, set suitable performance indicators for measurement, and use ESG reporting as a tool to better communicate strategies and performance."

The winners of the DYA 2013 in the various award categories are listed below.

Listed Companies (SEHK - Hang Seng Indexes Constituents)
-- Executive Director: Mr Gao Guofu
Chairman, China Pacific Insurance (Group) Company Limited
-- Board: Board of Directors, China Pacific Insurance (Group) Company Limited

Listed Companies (SEHK - Non Hang Seng Indexes Constituents)
-- Executive Director: Mr Liang Xinjun
Vice Chairman and Chief Executive Officer, Fosun International Limited
-- Executive Director: Mr Robert Xu
Chairman of the Board and Chief Executive Officer, Kingdee International Software Group Company Limited
-- Non-Executive Director: Mr SETO, John Gin Chung
Independent Non-Executive Director, China Everbright Limited

Private Companies
-- Executive Director: Dr Cheung Kwong Ming
Managing Director, Tsuen Lee Group (Holdings) Ltd

Statutory/Non-profit-distributing Organisations
-- Board: Construction Industry Council
-- Board: Board of Directors, Hong Kong Cyberport Management Company Limited
-- Board: Board of Directors, Hong Kong Education City Limited

Recognition of Excellence in Board Diversity
-- Board of Directors, Hong Kong Cyberport Management Company Limited

Directors of the Year Awards 2013 is organised by HKIoD and co-organised by Financial Services and the Treasury Bureau of HKSAR Government, the Securities and Futures Commission and the Stock Exchange of Hong Kong Limited. China Taiping Insurance Group Ltd. is the Lead Sponsor of the event. The awards project also enjoys the support from Joint Sponsors including China Merchants Finance Holdings Company Limited, China Resources (Holdings) Co., Ltd., Wing Lung Bank Limited and Guotai Junan International Holdings Limited and from Co-sponsors consisting a host of other renowned companies. Supporting Organisations include Government bureaus, the media, service organizations, professional institutes and Chambers of Commerce.

Mr Anthony Yeung, Chairman of the Awards Organising Committee of DYA 2014 said: "Apart from announcing this year's awardees, we are delighted to announce the theme of the Directors Of The Year Awards 2014 as 'Effective Leadership: Key to Corporate Success'."

About Directors Of The Year Awards
First launched in 2001, Directors Of The Year Awards were the first ever such Awards organised in Asia. The project has now become an annual project of impact in the community. The objectives are to recognise directors and board of directors for outstanding director practices and corporate governance, to publicise the significance of good corporate governance and to promote awareness of good corporate governance and director professionalism in Hong Kong. Nominations are open to the public. As good corporate governance is vital to all types of organisations, and professional director practices are encouraged from directors in all board roles, the Awards recognise excellence in categories by company types, including listed companies, private companies and statutory/non-profit-distributing organisations, and categories by roles, including Executive Directors, Non-Executive Directors and Boards. For more details on the previous years' Awards, please visit: http://www.hkiod.com/dya-awardees.html

About The Hong Kong Institute of Directors

The Hong Kong Institute of Directors is Hong Kong's premier body representing directors to foster the long-term success of companies through advocacy and standards-setting in corporate governance and professional development for directors. A non-profit-distributing organisation with membership consisting of directors from listed and non-listed companies, HKIoD is committed to providing directors with educational programmes and information service and establishing an influential voice in representing directors. With international perspectives and a multi-cultural environment, HKIoD conducts business in biliteracy and trilingualism. Website: http://www.hkiod.com.

Photo Caption: (From left to right)Standing Upper Row: Mr. Sunny LEE, Chairman, Hong Kong Education City Limited,Mr Paul CHOW, Chairman, Hong Kong Cyberport Management Company Limited,Ir LEE Shing See, Chairman, Construction Industry Council,Dr Cheung Kwong Ming, Managing Director, Tsuen Lee Group (Holdings) Ltd,Mr Robert Xu, Chairman and Chief Executive Officer, Kingdee International Software Group Company Limited Standing Front Row: Mr FANG Lin, representative of China Pacific Insurance (Group) Company Limited,Mr Liu Tingan, Chairman of the Awards Organising Committee,Dr Kelvin WONG, Chairman of The Hong Kong Institute of Directors,Dr Carlye TSUI, CEO of The Hong Kong Institute of Directors,Mr LIANG Xinjun, Vice Chairman and Chief Executive Officer, Fosun International Limited

Contact :Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Cornia Chui +852 2864 4853 cornia.chui@sprg.com.hk
Denise Siu +852 2114 4913 denise.siu@sprg.com.hk
Fax: +852 2527 1196

Directors Of The Year Awards 2013 Enquiries:
The Hong Kong Institute of Directors
Christine Wong +852 2889 4988 christine.wong@hkiod.com
Susan Ling +852 2889 9986 susan.ling@hkiod.com
Fax: +852 2889 9982Copyright 2013 ACN Newswire. All rights reserved. www.acnnewswire.com Reported by ACN Newswire 2 days ago.

Hong Kong 2013 Wealth Book - Hong Kong Wealth Management Market Reviewed in New Research Report Available at ReportsnReports.com

December 3, 2013, 3:49 am

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ReportsnReports.com adds “Hong Kong 2013 Wealth Book” report to its research database.The report focuses on Hong Kong HNWI performance between the end of 2007 (the peak before the global financial crisis) and the end of 2012.

Dallas, Texas (PRWEB) December 03, 2013

Hong Kong 2013 Wealth Book market research report says there were 233,220 HNWIs and 3,308 UHNWIs in Hong Kong in 2012. This report reviews the performance and asset allocations of HNWIs and Ultra HNWIs in Hong Kong. It also includes an evaluation of the local wealth management market.

Key highlights
There were approximately 233,220 HNWIs in Hong Kong in 2012. These HNWIs held US$1.1 billion in wealth. The wealth per capita in the country in 2012 was approximately US$119,453. Hong Kong HNWI numbers rose by 26.2%, following a marginal increase of 4.0% in 2011. Equities, real estate and alternative products recorded the strongest growth during the review period. There were 3,308 UHNWIs in Hong Kong in 2012, with an average wealth of US$104 million per person, making them the prime target group for wealth sector professionals. Of this total, there were 42 billionaires, 747 centimillionaires and 2,519 affluent millionaires. In 2012, Hong Kong HNWIs held 39.8% (US$452 billion) of their wealth outside their home country, which is above the worldwide norm of 20–30%.

Request a free sample of the report at http://www.reportsnreports.com/contacts/RequestSample.aspx?name=271301 to help evaluate the information in it and make a purchase decision.

Scope of complete report (http://www.reportsnreports.com/reports/271301-hong-kong-2013-wealth-book.html)·     Independent market sizing of Hong Kong HNWIs across five wealth bands
·     HNWI volume, wealth and allocation trends from 2008 to 2012
·     HNWI volume, wealth and allocation forecasts to 2017
·     HNWI and UHNWI asset allocations across 13 asset classes
·     Geographical breakdown of all foreign assets
·     Alternative breakdown of liquid vs. investable assets
·     Number of UHNWIs in major cities
·     Number of wealth managers in each city
·     City wise ratings of wealth management saturation and potential
·     Details of the development, challenges and opportunities of the Wealth Management and Private Banking sector in Hong Kong
·     Size of the Hong Kong wealth management industry
·     Largest domestic private banks by AuM
·     Detailed wealth management and family office information
·     Insights into the drivers of HNWI wealth

Table of Contents
1 Introduction
1.1 Details of this Report
1.2 Definitions
2 Executive Summary
3 Wealth Sector Fundamentals
3.1 Political Background
3.2 Economic Background
3.3 Social Background
3.4 Benchmarking Hong Kong Wealth in Context
3.4.1 Distribution of wealth in Hong Kong
3.5 HNWI Volume and Wealth Trends
4 Findings from the WealthInsight HNWI Database
4.1.1 Trends in HNWI Wealth to 2017
4.1.2 HNWI trend analysis
4.1.3 Trends of the wealth bands
4.1.4 Demographic breakdown of HNWIs
4.1.5 HNWIs – job titles
4.1.6 HNWIs – industry breakdown
4.1.7 HNWIs – industry performance
4.1.8 HNWIs – breakdown by city or town
4.1.9 HNWIs – town or city performance
4.1.10 HNWIs – town and city population densities
4.2 UHNWIs
4.2.1 UHNWI volume trend analysis
4.2.2 UHNWI wealth trend analysis
4.2.3 Demographic breakdown of UHNWIs
4.2.4 UHNWIs – industry breakdown
4.2.5 UHNWIs – town and city breakdown and performance
4.3 UHNWIs – Billionaires
4.3.4 List of billionaires
4.4 UHNWIs – Centimillionaires
4.5 UHNWIs – Affluent Millionaires
4.6 Core HNWIs
4.6.1 Core HNWI volume trend analysis
4.7 Core HNWIs – Mid-Tier Millionnaires
4.8 Core HNWIs – Lower-Tier Millionaires
5 Analysis of Hong Kong HNWI Investments
5.1 Analysis by Asset Classes
5.2 Analysis of Foreign Investments
5.2.1 Investments in Europe
5.2.2 Investments in North America (Including the US, Mexico and the Caribbean)
5.2.3 Investments in Asia Pacific
5.2.4 Investments in Latin and South America
5.2.5 Investments in the Middle East
5.2.6 Investments in Africa
5.3 Alternative Breakdown: Liquid vs. Investable Assets
5.4 Analysis of Hong Kong UHNWI Investments
6 Competitive Landscape of the Wealth Sector
6.1 Competitive Landscape
6.2 Developments in the Hong Kong Private Banking Industry
6.3 Offshore Wealth Management and Private Banking Industry
6.4 Hong Kong Wealth Management Industry – Clientele Model and Maturity
6.5 Behavioral Mapping of Wealth Management and Private Banking in Hong Kong
6.6 Porter’s Five Force Analysis – the Wealth Management Industry
7 Appendix
7.1 Additional Components of the Wealth Sector in Hong Kong
7.1.1 Philanthropy
7.1.2 Demand for intergenerational wealth transfer
7.1.3 Human resource availability for the wealth management industry
7.2 Regulations on Taxes
7.3 Regulations Related to Immigration, Investment and Employment
7.4 Key Drivers
List of Tables

Place a direct purchase order at http://www.reportsnreports.com/purchase.aspx?name=271301.

Browse other new report:
Ultra HNWIs in the US to 2013 at http://www.reportsnreports.com/reports/270900-ultra-hnwis-in-the-us-to-2013.html.

HNWI Asset Allocation in the US to 2013 at http://www.reportsnreports.com/reports/270901-hnwi-asset-allocation-in-the-us-to-2013.html.

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ReportsnReports.com is an online market research reports library of 350,000+ in-depth studies of over 5000 micro markets. We provide 24/7 online and offline support service to our customers. Reported by PRWeb 2 days ago.

'Hong Kong ideal entry point for Indian business into China'

December 3, 2013, 10:12 am

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*A top trade official of Asia's leading business hub Hong Kong on Tuesday said that the special administrative region of China offers Indian businesses the best entry point into mainland China.*

"Hong Kong is the ideal platform for Indian companies to enter the Chinese market and connect with customers there. Hong Kong currently generates more than 90 per cent of its GDP from the services sector. This area holds huge potential for Indian companies in this sector," said Benjamin Chau, Deputy Executive Director, HKTDC (Hong Kong Trade Development Council) at joint program organised with the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) in Bangalore.

Elaborating on the advantages for Indian businesses in operating out of Hong Kong, Chau said that the city has been ranked as the world's top business hub ahead of locations like Singapore, Tokyo, London and New York by real estate consultancy CB Richard Ellis in 2011.

Noting that Hong Kong has become the world's most free economy, Chau pointed out that the free flow of information, people, goods and capital had contributed to the increased participation of investors from developed countries as well as emerging and developed Asian economies. "In 2013, we have seen our state fairs organised to attract investors to Hong Kong roping in 56.9 per cent of total buyers from emerging Asia and 13.5 per cent from developed Asia. The proportion of Indian buyers at our trade fairs have been on the rise as well," Chau said.

Cumulative trade between India and Hong Kong touched $20 billion in 2012, increasing 52 per cent from 2009.

Top export items from India to Hong Kong down the years have been pearls, precious and semi-precious stones, jewellery and leather products.

Hong Kong too has led in exports of pearls and precious stones to India, followed by telecom equipment and parts and jewellery, not to mention a range of silver and platinum products.
FKCCI President R Shivakumar said that the Indian community has contributed immensely to developing Hong Kong as a trade hub.
DH News Service Reported by Deccan Herald 1 day ago.

Hong Kong Exchanges and Clearing Limited's New CCP, OTC Clear, Clears First OTC Derivatives Trade Using Calypso Technology

December 3, 2013, 5:21 pm

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· Central Counterparty, OTC Clear, now live on Calypso OTC Derivatives Clearing, Risk Management & Collateral Management

HONG KONG, Dec. 4, 2013 /PRNewswire/ -- Calypso Technology Inc., the leading integrated financial markets platform provider, today announced that OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), cleared its first OTC derivatives transaction using Calypso's CCP OTC clearing solution when it commenced business on 25th November 2013.

OTC Clear, whose 12 founding shareholders include five mainland Chinese banks, selected Calypso as the system to provide end-to-end OTC clearing, processing and risk management of interest rate swaps and FX non-deliverable currency forwards. OTC Clear is also the first clearing house to employ Calypso's collateral management module to handle and process collateral with its clearing members.

The success of the recent go-live, where the first trade cleared was a non-deliverable Renminbi 7-day repo swap, highlights the evolving market structure of Hong Kong as a key financial center and will further leverage Hong Kong's position as the premier offshore Renminbi center.

OTC Clear's selection validates Calypso's experience and strong global track record delivering and implementing CCP clearing solutions.

"In looking for a partner, we wanted a provider who had deep experience in implementing OTC clearing technology and who fully understood our business and our position as a financial hub for the Renminbi-denominated products in the OTC marketplace," said Gerald Greiner, Global Head of Clearing at HKEx.

"We are thrilled to be working with such an important organization in the Chinese and APAC marketplace," said Charles Marston, Chairman and CEO of Calypso. "Our work with HKEx reinforces our position as a leading technology provider for the global OTC markets. We look forward to the continued success of the partnership with HKEx and further establishing Calypso as the world's trusted clearing solutions provider." Reported by PR Newswire Asia 1 day ago.

Hong Kong Forum Seeks Effective Responses to Organ Harvesting in China

December 3, 2013, 11:27 pm

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HONG KONG—Doctors, lawyers, and politicians gathered to discuss effective responses to the practice of forced, live organ harvesting in China at a forum in the Hong Kong Legislative Council (LegCo) building on Nov. 28.

The forum on “Medical Safety and …

The post Hong Kong Forum Seeks Effective Responses to Organ Harvesting in China appeared first on The Epoch Times. Reported by Epoch Times 21 hours ago.

Hong Kong to quarantine 17 people over bird flu case

December 3, 2013, 11:39 pm

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Hong Kong (AFP) Dec 03, 2013

Hong Kong will quarantine 17 people after the city confirmed its first human case of the deadly H7N9 bird flu, officials said Tuesday. The 17 are mostly relatives of the employer of a 36-year-old Indonesian domestic helper, who is in critical condition in a Hong Kong hospital after a visit to mainland China. They were all taken to hospital for observation. "If those who had been in c Reported by Terra Daily 21 hours ago.

H7N9 Bird Flu Infects First Human In Hong Kong, Alerts Raised

December 4, 2013, 7:26 am

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*Lawrence LeBlond for redOrbit.com - Your Universe Online*

The deadly H7N9 bird flu strain that has so far sickened 139 people in eastern China and Taiwan since April, has now been confirmed in the southeastern island city of Hong Kong.

H7N9, which has killed 45 people so far, was discovered in a 36-year-old Indonesian domestic helper, said Ko Wing-man, Hong Kong’s health secretary.

According to Ko, the woman had occasionally traveled to the neighboring mainland city of Shenzhen, where she bought, slaughtered and ate chickens. The woman was admitted to Queen Mary Hospital on November 27 and remains in critical condition. Her close contacts have also been isolated in the hospital until further notice.

Ko said that Hong Kong has now raised its level of preparedness for an influenza pandemic to “serious.”

Human infection of H7N9 was first reported in China in March and rose through mid-April before authorities moved to close down live poultry markets and cull millions of potentially infected birds. That process limited human exposure and infections began to subside.

Hong Kong had instated a moratorium on live poultry markets 16 years ago to prevent bird flu from spreading throughout the city. But it now appears that the virus may be circulating less than 30 miles from downtown Hong Kong, based on the latest infection.

And despite the efforts to stave off mass infection, officials are worried that the virus will rear its ugly head this winter, furthering the fears of a widespread pandemic.

Ko said Hong Kong has now suspended the import of live chickens from three farms in Shenzhen to further curb the spread of the virus and plans to inspect Hong Kong chicken farms and poultry markets. Shanghai had also noted it will suspend live poultry trading from January 31 to April 30 to prevent a recurrence of the H7N9 bird flu outbreak, according to state-owned Xinhua news agency.

Hong Kong takes the threat of a new disease very seriously after the SARS outbreak in 2003 killed 299 of its citizens, as well as a total of 744 worldwide.

While health officials remain on high alert following the most recent infection, experts say it is actually rare for avian flu strains to infect humans. They have been around for a very long time in birds and only occasionally do they mutate to the point that they can make the leap to humans.

A report published in The Lancet journal in October maintained that closure of live poultry markets would go a long way in curbing H7N9 outbreaks. Reported by redOrbit 13 hours ago.

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British model of governance is nothing for Hong Kong to boast about

December 4, 2013, 2:15 pm

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Once in a while, this column has been known to criticise the Hong Kong government. Whenever it does, someone always objects. "But Hong Kong's system was put in place by the British," he inevitably complain. Alas, although Hong Kong's machinery of government is indeed largely inherited from the British, that is hardly much of a recommendation. Reported by S.China Morning Post 6 hours ago.

Hong Kong Open 2013 - live blog

December 4, 2013, 6:20 pm

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Good morning and welcome to our live blog from the first day of the Hong Kong Open at Fanling. 

The early news is that Chinese wonderkid Guan Tianlang, just 15 years old, is tearing up the course.  Reported by S.China Morning Post 2 hours ago.

Check Out the Full Map to BLOHK PARTY Which Kicks Off This Weekend in Hong Kong

December 4, 2013, 7:51 pm

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With the highly anticipated BLOHK PARTY set to kick off in Hong Kong this Saturday, we’ve got a peek at the West Kowloon Promenade harbour-view …

Check Out the Full Map to BLOHK PARTY Which Kicks Off This Weekend in Hong Kong appeared first on Emag.co.uk Reported by Musicrooms.net 21 minutes ago.

Hong Kong confirms first human case of H7N9 bird flu: report

December 2, 2013, 5:27 pm

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Hong Kong (AFP) Dec 02, 2013

Hong Kong on Monday confirmed its first human case of the deadly H7N9 bird flu, according to a report, in the latest sign of the virus spreading beyond mainland China. A 36-year-old Indonesian domestic helper with a history of travelling to the mainland city of Shenzhen and coming into contact with live poultry has been infected and is in critical condition, Health Secretary Ko Wing-man said Reported by Terra Daily 3 days ago.

Hong Kong records bird flu infection

December 2, 2013, 6:13 pm

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HONG KONG - Hong Kong reported the territory's first confirmed human infection of the H7N9 strain of bird flu, health service chief Ko Wing-man said late Monday. Reported by Bangkok Post 3 days ago.

Hong Kong reports 1st case of H7N9 bird flu

December 2, 2013, 7:33 pm

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HONG KONG (AP) — Hong Kong has reported its first case of the H7N9 bird flu strain, in a possible sign the virus is spreading beyond mainland China since it first emerged there earlier this year. The southern Chinese financial hub's health secretary said late Monday that a 36-year-old Indonesian maid is in hospital in critical condition. Reported by SeattlePI.com 3 days ago.

Hong Kong’s Chan Narrowly Misses Reaching World Champion of Champions Playoffs

December 4, 2013, 10:03 pm

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Hong Kong top bowler Ken Chan proved that Hong Kong, while competitive, still has to take further steps to be a major force in the world’s lawn bowls arena. After narrowly missing out on the chance of progressing to the …

The post Hong Kong’s Chan Narrowly Misses Reaching World Champion of Champions Playoffs appeared first on The Epoch Times. Reported by Epoch Times 23 hours ago.

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Enthusiasm For High Quality Hockey in Hong Kong Continues

December 4, 2013, 10:59 pm

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Hong Kong field hockey is continuing to gather momentum and is attracting ever larger crowds eager to see international stars competing against local stars each week. On the weekend the Punjab-A team with four Olympians played the Hong Kong Hockey …

The post Enthusiasm For High Quality Hockey in Hong Kong Continues appeared first on The Epoch Times. Reported by Epoch Times 22 hours ago.

Third Intellectual Property Forum Opens in Hong Kong

December 5, 2013, 4:11 am

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Two-Day Business of IP Asia Forum Attracts Over 1,600 Players

Hong Kong, Dec 5, 2013 - (ACN Newswire) - More than 1,600 intellectual property buyers and sellers, R&D professionals, finance and legal intermediaries and design and technology practitioners from 25 countries and regions are taking part in the Business of IP Asia Forum, which opens today and continues through tomorrow at the Hong Kong Convention and Exhibition Centre.

Under the theme "IP: Driving the New Economy," the event has attracted nearly three times more than attended the Forum's debut, two years ago.

Hong Kong SAR Chief Executive CY Leung delivered the Forum's opening remarks, emphasising Hong Kong's fast-emerging role as the Asian region's IP trading centre.

Asia's IP Trading Hub

Hong Kong Trade Development Council (HKTDC) Executive Director Fred Lam, who also spoke at the opening session, said that "Hong Kong has long been one of the world's key trading economies and a global financial centre. Now, with mainland China taking off as an important IP supplier and user, Hong Kong is poised to become the Asian region's IP trading hub."

Expanding Forum

That growing role is reflected in the Forum itself, which has expanded to two days. And, for the first time, the Hong Kong SAR Government joins the HKTDC and the Hong Kong Design Centre as an organiser of the Forum.

This year, more than 60 prominent speakers are participating in the event's panel discussions and sessions. The timely topics range from disputes in the design and creative industries to technology transfer and licensing, IP monetisation and intellectual capital management, software patenting and IP bullying.

Aside from Mr Leung and Mr Lam, speakers at the Forum's opening session were: China's State Intellectual Property Office Commissioner Tian Lipu, and World Intellectual Property Organization Deputy Director General Wang Binying.

High-Profile Panel Discussions

Two panel discussions took place this morning. The first, "Rethinking Corporate IP Strategies," featured Lenovo Vice President of Intellectual Property Ira Blumberg, Palo Alto Research Center Vice President and Chief Intellectual Property Officer Damon Matteo, and Sanofi Global Head, Regional Patent Support, Roberto Ribeiro. Donald Merino, Managing Director and founder of Transpacific Advisors Ltd, was Panel Chair.

That was followed by the "IP of the Future" session. Speakers included Dr Bernard Meyerson, IBM Fellow & Vice President of Innovation, IBM. David Llewelyn, Professor of Intellectual Property Law at King's College London, was Panel Chair.

Asia IP Exchange

Following this morning's opening addresses, the Asia IP Exchange was relaunched, with Mr Leung and Mr Lam among the officiating guests. The Exchange, established at last year's Forum as an IP information site, was launched today as a business site.

The Exchange now includes more than 20 partners from Asia, Europe and North America, and lists over 20,000 tradable IP assets from nearly 20 countries and regions. As Mr Lam told the Forum gathering this morning: "The Asia IP Exchange is designed to put IP owners and prospective buyers together. Business should follow."

International IP Week

BIP Asia is the flagship event of International Intellectual Property Week, a series of IP sector conferences, exhibitions, seminars and networking events taking place, 2-7 December, in Hong Kong.

BIP is being held alongside HKTDC Inno Design Tech Expo (IDT Expo) and HKTDC World SME Expo, which opened today and continue through 7 December at the HKCEC. IDT Expo's "IP Trading and R&D Zone" features more than 90 exhibitors.

Forum Website: http://www.bipasiaforum.com

About HKTDC

A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 global offices, including 12 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com. Follow us on Google+, Twitter @hktdc, LinkedIn.

Google+: http://plus.google.com/+hktdc
Twitter: http://www.twitter.com/hktdc
LinkedIn: http://www.linkedin.com/company/hong-kong-trade-development-council

Contact :HKTDC
Corporate Communication Department
Joe Kainz
Tel: +852 2584 4216
Email: joe.kainz@hktdc.org
Copyright 2013 ACN Newswire. All rights reserved. www.acnnewswire.com Reported by ACN Newswire 16 hours ago.

Hong Kong Private Equity Finance Association Calls for Actions to drive the Transformation of Hong Kong into an Asset Management Hub

December 5, 2013, 5:48 am

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Hong Kong, Dec 5, 2013 - (ACN Newswire) - The Hong Kong Private Equity Finance Association ("HKPEFA"), a self-governing non-profit organization, principally serving finance, legal and other practitioners in the private equity ("PE") and venture capital ("VC") industry, held its inauguration ceremony today.

In respect to the inauguration of HKPEFA, the Honorable John C Tsang, GBM, JP, Financial Secretary of the Hong Kong SAR said "The field of PE and VC is dynamic and challenging. With the continued economic reform in China and other parts of Asia, HKPEFA and its members are well placed to seize the opportunities in this region and beyond."

"While Hong Kong has come a long way in developing its PE and VC industries, HKPEFA strongly believes that the city has much potential in transforming into an even greater asset management hub for the region; HKPEFA is established to take on the mission to drive the necessary changes to foster industry development," said Simon Ho, Chairman of HKPEFA.

To mark the inauguration of HKPEFA, the Association released findings from two survey reports, one conducted by HKPEFA and one by PricewaterhouseCoopers ("PWC"), with analysis of the current position of Hong Kong in the global asset management industry and recommendations for transforming the city into a major asset management hub.

"As shown in our latest survey, a majority of industry practitioners do believe we are losing our competitive advantage while our competitors are raising their game. It is time the government and professionals in the industry work hand-in-hand to improve the operating environment and attract more fund managers to select Hong Kong as their operations platform. The primary objective is to realize the many opportunities presented by Mainland China and the Asian region."

A summary of the HKPEFA survey findings is as follows:
-- 79 percent of respondents indicated, with outbound investments from Mainland China growing, they believe Hong Kong is the most suitable place for PE or VC firms to build their presence if they are going for outbound investments, followed by the choices of a special economic zone or free trade zone in Mainland China (13 percent), Shanghai (6 percent) and Singapore (2 percent)
-- 65 percent think Hong Kong has not done enough in promoting its importance for China outbound investments and is facing strong competition from other regions or cities
-- Facing competitions from foreign markets such as Ireland and Singapore which are upgrading their human capital in fund administration and research capabilities to attract funds to domicile locally, 71 percent of respondents think Hong Kong is losing its competitive edge and the government can work more closely with the industry to develop human capital
-- "Favourable tax regime" is ranked first as the most important credential for making a fund hub successful, followed closely by "friendliness and clarity of regulatory frame-work", then "cost of doing business" and "availability of financial intermediaries", while "availability of service providers" and "geographic location" equally ranked as the least important among these key factors
-- "Tax favourable environment" is ranked first as the most important factors in attracting international funds and/or China domestic funds to launch in Hong Kong, followed by "clear regulations and guidelines", "the availability of professionals with strong technicality", "support of financial intermediaries" and "professional service support" in descending order
-- Half of the group of respondents think Hong Kong's government could be better in providing the necessary level of policies support for the PE and VC industry
-- In response to the government's announcement in its 2013/14 budget to provide profits tax exemption for offshore funds, 61percent of the group think the budget announcement is encouraging to their firms, but the rules are unclear and no further guidance has been given

Another survey conducted by PwC studied the current standing of Hong Kong in the global asset management industry and gave recommendations on enhancing its status. Currently, out of over 65,000 global funds, only 300 are domiciled in Hong Kong. Such statistics do not cover private equity funds and other unregulated funds . So far no private equity funds are set up domiciled in Hong Kong . In order to transform Hong Kong into a leading asset management hub, the following directions are recommended by the PwC survey report:
-- Encourage Hong Kong managers to use Hong Kong products
-- Incentivise global managers to domicile funds and manage assets in Hong Kong
-- Leverage on political, geographic and cultural proximity with Mainland China

In particular, the industry is advised to take the following specific measures to bring forth changes:
-- Establish more efficient vehicles and structures
-- Maintain regulatory distinction between regulated and non-regulated funds
-- Bring tax certainty and consistency across all fund types

Florence Yip, Partner, Greater China PE Tax Leader of PwC said, "Hong Kong's asset management industry currently ranks fourth globally*. Our talent pool, operational platform, fund distribution channel are relatively developed and may be considered as our competitive advantages. Nevertheless, in order to further enhance Hong Kong's competitiveness, actions are required, in particular in our existing regulatory environment and taxation policies, for us to break through the status quo and thrive."

*Source: Global Financial Centers Index 12, LongFinance

About HKPEFA

Hong Kong Private Equity Finance Association ("HKPEFA) is a self-governing non-profit organization, principally serving finance, legal and other practitioners in the PE/VC industry. Its mission is to foster professionalism and provide education and training opportunities for finance and legal professionals in the industry, for sharing information and networking. The group consists of CFOs, COOs, controllers, fund accountants, administrators and legal counsels from within the industry. For more information about HKPEFA, please go to: http://hkpefa.org/home.html.

Contact :Strategic Financial Relations Limited
Heidi So, +852 2864 4826, heidi.so@sprg.com.hk
Cindy Lung, +852 2864 4867, cindy.lung@sprg.com.hk
Denise Siu, +852 2114 4913, denise.siu@sprg.com.hk
Copyright 2013 ACN Newswire. All rights reserved. www.acnnewswire.com Reported by ACN Newswire 15 hours ago.

Hong Kong's Posh 'Peak' Gets Steep

December 5, 2013, 7:05 pm

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The sale of two homes in Hong Kong's prestigious Peak neighborhood is sending real-estate prices to new heights—despite government efforts to dampen the market. Reported by Wall Street Journal 2 hours ago.

Spread the Love – glomp! Debuts in Singapore and Hong Kong

December 5, 2013, 6:24 pm

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*Singapore--Media OutReach--November 26, 2013 -- *Riding on the shift in the media landscape toward social media and digital communications, *glomp!*, a revolutionary new digital platform that enables tangible treating between friends, has officially launched in Singapore and Hong Kong.

Primed to become the next digital connectivity phenomenon in the region and beyond, *glomp!* enhances the quality of touch between individuals by enabling a greater and more personal online, and offline experience. Catching up with friends in person has increasingly become a challenge in our fast-paced society. So while sending a message, sharing a video or to 'Like' and comment on friends' posts may be a nice gesture, treating them to something they can physically enjoy is even more gratifying.

"We're really excited to bring to 'social' and digital media to that next level of connectivity. *glomp!* actualises into the digital space, that age-old friendly interchange of treating one another. And since digital media is revolutionising the process of connectivity on a global level, *glomp!* aims to extend this progression by covering the world," shared Zachary Lai, creator of *glomp!*.

In a fun and convenient manner, *glomp!* bridges the digital connectivity gap by enabling friends and acquaintances to real world treating of enjoyable products ranging from a coffee, smoothie or beer to an ice-cream. Whether it's to say thanks, extending congratulations, cheering someone up or touching base with a client, with just a few clicks *glomp!* allows you to express your gestures of appreciation as frequently as you wish through a casual treat. And with Christmas and New Year just around the corner, what better way is there to share the festive joy?

The *glomp!* platform partners with quality retail and service outlets that offer a tantalising variety of enjoyable products to select from. Cafés, bars and anywhere a treat can be enjoyed are likely places where people can expect to be *glomp!*ed at. Quality partner brands include the likes of Le Noir, Berrylite and Cedele, alongside other exciting brands to come. The spread of outlets will extend both far and wide, which makes redeeming treats exceptionally convenient.

Following its official debut in Singapore and Hong Kong simultaneously, *glomp!* will be establishing its presence as the pre-eminent treating platform worldwide. In no time at all, giving and receiving treats across the globe will be possible in the most convenient and exciting manner.

*Great Channel for Merchants*

Marketing choices for merchants such as cafés, bars, confectionary stores and spas that are constantly looking for better ways to reach out to consumers by bringing products closer to them have just been expanded. To add value to their business, *glomp! *invites quality merchants to join this new phenomenon and be a part of this new world of stronger connectivity for their customers.

 

*How Does glomp! Work?

*

1.    Simply register for a free *glomp! *account and connect the friends you would like to treat (and be treated by) on the *glomp!* network or by inviting them via email or Facebook. 

 

2.    Select a treat from a menu of products available and pay with your credit card or the pre-purchased credit in your *glomp!* account.

 

3.    Your friend will be notified by email or on Facebook.

 

4.    At their convenience, your friend goes to their nearest or preferred* glomp!* partner outlet that you have selected and presents the* glomp!* voucher on their Smartphone app to redeem and enjoy!

 

5.    It's that simple!

 

*When's A Good Time To glomp!?

*

As the saying goes, "an act of kindness goes a long way", and *glomp!* not only lets you put a smile on a friend's face but also a treat into their hands!

 

Here are some examples:

Amy posts: "Just landed my dream job!" So her girlfriend Jane *glomp!*s her a strawberry smoothie to congratulate her.

Jack responds to David's question: "Where to find the best Thai food in town?" David *glomp!*s Jack a beer to thank him.

Sam receives a text from his girlfriend Susie: "What a mad day it's been at work!" To instantly cheer Susie up, Sam *glomp!*s her a blueberry muffin.

It is Jasmine's birthday. Her old college roommate from London *glomp!*s her a glass of champagne.

Daniel has been quietly admiring Bella. He *glomp!*s her a Strawberry Daiquiri with the message: "Fancy some company while enjoying this drink???".

Didi hasn't caught up with her client Max for a while. She *glomp!*s him a latte to touch base and see how business is.

It feels great to treat a friend but it's just as nice to receive a treat! So invite more friends, get started and *glomp!* away!

 

Company Logo

http://release.media-outreach.com/release.php/Images/1366
About glomp! glomp! is an online and mobile social platform launched first in Singapore and Hong Kong in November 2013, and operated and owned by glomp! Pte Ltd. Founded by Zachary Lai, the glomp! platform partners with quality retail and service outlets to offer a selection of enjoyable treats for users to treat and receive from each other. Aside from the basic function of enabling treating of products, the platform comprises of a number of smart and engaging features for enhanced user enjoyment. Targeting to expand the platform across the globe, glomp! is expected to hit other parts of Asia, the United Kingdom and United States of America by early 2014. glomp! is all about positivity, with the aim to deepen digital connectivity between people. Visit glomp! at www.glomp.it
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  Reported by Media OutReach 2 hours ago.