HKETO San Francisco Celebrates Chinese New Year
The Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) hosted Spring Receptions in San Francisco, Los Angeles, Seattle and Houston between February 27 and March 6, ringing in the Year of the Dragon.
Director of HKETO San Francisco, Ms Jacko Tsang spoke at the receptions, providing updates on Hong Kong to around 500 guests.
"Hong Kong has fully entered a post-pandemic economy. The economy continued to revive in the fourth quarter, with GDP growing by an estimated 4.3 per cent. For 2023 as a whole, GDP resumed growth of 3.2 per cent," she said.
She pointed out that Hong Kong's trade relationship with the United States remains robust. In 2023, US goods exports to Hong Kong totaled nearly US$28 billion. The US enjoys one of its highest trade surpluses with Hong Kong, valued at over US$23 billion. Nearly 1 300 American companies operate in the city which is home to approximately 90 000 Americans. The American Chamber of Commerce in Hong Kong released in January its business sentiment report which reveals that some 75 per cent of respondents regarded Hong Kong as a competitive global business hub thanks to its international connectivity, free flow of capital, low and simple tax regime and legal and regulatory systems.
She also noted that Hong Kong's life expectancy has reached 85.5 years, among the highest in the world, and good living standard is one important factor contributing to longevity. “Hong Kong ranks fourth out of 191 places in the quality of life standing in the United Nations' Human Development Index. The index assesses long-term progress in basic dimensions of human development," she said.
"That explains why Hong Kong remains a magnet for talent. Various programs such as the Top Talent Pass Scheme are in place to bring in high-income talent or graduates of the world's top 100 universities to Hong Kong," she continued.
She said that Hong Kong is making strides to spur the city's economic development across different sectors.
"On financial services, Hong Kong is an engaged stakeholder in support of climate action. Last year, Hong Kong had great success issuing the world's first tokenized green bond issued by a government. Riding on the success, the Government made a second offering in February, selling US$750 million of two-year tokenized green bonds. The successful sales of digital green bonds boost Hong Kong's status as a digital asset hub," she said.
"On innovation and technology, Hong Kong continues to stand out as an emerging tech hub in the world. The number of start-ups in Hong Kong has reached a record high of over 4 250, up more than 60 per cent compared to five years ago. The city's research and development investment continues to grow with 30 strategic enterprises set to invest a total of more than US$3.85 billion in their operations in Hong Kong, and create about 10 000 jobs, the majority of which are scientific research and management positions," she continued.
“On tourism, from leading regional and international trade fairs to world-class arts, culture and sports competitions and shows, we will create and attract a continuing flow of new and inviting experiences to Hong Kong,” she said.
“The year 2024 kicked off with the 17th Asian Financial Forum. In the coming months, we will welcome LIV Golf Hong Kong, Art Basel, Hong Kong Rugby Sevens and the finale of the electric motorsport E1 World Championship. These events are going to bring visitors, business, and vibrancy to Hong Kong. I hope that you may have an opportunity to experience one of these events – or many others – this year,” she added.
The receptions in San Francsico and Los Angeles were supported by the Hong Kong Tourism Board (HKTB). Director, Americas of HKTB, Mr. Michael Lim gave a presentation on the transformative developments taking place recently in Hong Kong. He shared clips from two new shows filmed in Hong Kong: Field Trip with Curtis Stone and Canvasing the World. The HKTB also lucky draws giving away paintings inspired by the Tai Hang fire dragon dance.
The celebrated harmonica ensemble RedBricks from Hong Kong performed at the receptions. All five members of the group are from King's College in Hong Kong, and the group's name is a tribute to the beautiful architecture of their alma mater. They performed eastern and western melodies and the remarkable performance was lauded with a big rounds of applause.
