Friday October 18, 2019

 

USCPF HOSTS SEND-OFF DINNER FOR AUGUST 2012 CONGRESSIONAL POLICYMAKERS DELEGATION
Washington, D.C.

July 24, 2012

On July 24, 2012, the USCPF hosted a send-off dinner at the Hunan Dynasty Restaurant for this year’s senior Congressional staff delegation, before their departure on a ten-day program that will take them to Beijing, Guilin and Hong Kong. We were pleased to have Mr. Donald Tong, Hong Kong Commissioner for Economic and Trade Affairs in the United States, as our guest of honor. Senate and House staff who attended include Glen Downs (Jones, R-NC), Andi Fouberg (Thune, R-SD), Ed McDonald (Coble, R-NC), Jedd Moskowitz (Ackerman, D-NY), Stanley Watkins (Rush, D-IL), and Michael Zamore (Merkley, D-OR).

The staffers heard from Tong about how Hong Kong is currently the single largest source of investment in mainland China, even exceeding that from the United States. They were also offered many interesting facts and statistics on Hong Kong and on existing interactions between the United States and Hong Kong. Hoome to approximately seven million inhabitants, Hong Kong has one of the most highly educated work forces in the world and has frequently appealed to global companies wishing to establish operations in China. In recent years, Hong Kong has become a primary clearing house for offshore renminbi, in step with China’s efforts to eventually develop the yuan into a fully convertible international currency. Other financial services have also taken off, with Hong Kong increasingly becoming the choice place for initial public offerings by multinational companies. Mainland China’s economic development has also been a tremendous boon for the Hong Kong tourism industry, as the number of mainland Chinese tourists crossing into Hong Kong each day can sometimes reach upwards of half a million people.

Tong was accompanied by Mr. Bill Wong, Assistant Director-General of the Hong Kong Economic and Trade Office (HKETO), in Washington, D.C. The USCPF wishes to thank HKETO for their gracious support of the Hong Kong segment of this year’s policymakers trip. First established in 1987 and with offices also in New York and San Francisco, HKETO continues to maintain an active voice on issues being addressed by Congress that are likely to affect the Hong Kong Special Administrative Region.