HKETO San Francisco celebrates Chinese New Year in Los Angeles
Los Angles, Ca (March 7, 2024/LAPost) – The Hong Kong Economic and Trade Office in San Francisco (HKETO San Francisco) celebrated Chinese New Year along with the Hong Kong Tourism Board (HKTB) at a spring reception held on March 6 in Los Angeles.
Ms Jacko Tsang, Director, Hong Kong Economic and Trade Office in San Francisco (Photo from HKETO -SFO)
Addressing nearly 200 guests at the Petersen Automotive Museum, Director of the HKETO San Francisco, Ms Jacko Tsang said, “Hong Kong has fully entered a post-pandemic economy. The economy continued to revive in the fourth quarter, with GDP (Gross Domestic Product) growing by an estimated 4.3 per cent. For 2023 as a whole, GDP resumed growth of 3.2 per cent.”
She pointed out that Hong Kong’s trade relationship with the United States (US) remains robust. In 2023, US goods exports to Hong Kong totalled 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 quality 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 programmes 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 tokenised 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 tokenised 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.
Mr Michael Lim, Director, Americas, Hong Kong Tourism Board (Photo from HKETO -SFO)
Director, Americas of the HKTB, Mr. Michael Lim, also spoke at the event on the transformative developments taking place recently in Hong Kong. In his presentation, he reflected how Hong Kong, like the mythical dragon, is dynamic, culturally rich, and relentlessly progressive; confident, charismatic, and resilient. This was showcased with events taking place in Hong Kong, and in clips from two shows recently filmed in Hong Kong: Field Trip with Curtis Stone and Canvasing the World. One winner from the lucky draw was awarded an art piece by renowned painter Sean Diediker featured in Canvasing the World, inspired by the Tai Hang fire dragon dance.
Ms Peng Jing (Right), Commercial Counselor of Consulate General of The People’s Republic of China in Los Angeles (Photo from HKETO -SFO)
Mr John Wu (Right) , Vice Mayor, City of San Gabriel and Dr Allen Wu (Left), Mayor, City of Walnut (Photo from HKETO -SFO)
The reception concluded on a high note with renowned harmonica ensemble RedBricks from Hong Kong giving a special festive performance. 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.
