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PRC tourist spending in HK overtaking HK tourist spending in PRC in 2002 once “quota” was lifted

HK$ m. 45,000. 40,000. 35,000. 30,000. 25,000. 20,000. 15,000. 10,000. 5,000. 0. 2000. 2001. 2002E. 2003E. PRC tourist spending in HK overtaking HK tourist spending in PRC in 2002 once “quota” was lifted. “In-filling” surplus. “Hollow-out” deficit. PRC tourist spending in HK.

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PRC tourist spending in HK overtaking HK tourist spending in PRC in 2002 once “quota” was lifted

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  1. HK$ m 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2000 2001 2002E 2003E PRC tourist spending in HK overtaking HK tourist spending in PRC in 2002 once “quota” was lifted “In-filling” surplus “Hollow-out” deficit PRC tourist spending in HK HK tourist spending in PRC Source: HK Govt

  2. CEPA Summary (1) Trade in Goods: Import Tariffs; Rules of Origin (2) Trade in Services: Liberalization in market access in 17 sectors HK company definition; reduction in investment threshold (3) Trade and Investment Facilitation: transparency and simplification

  3. CEPA & gate-opening measures for HK - calendar 30 Jun CEPA signed between HK and China 15 Jul Mainland work permit scheme (easing entry requirement for mainlanders) 28 Jul Individual Travel from Dongguan, Zhongshan, Foshan, Jiangmen starts 20 Aug Individual Travel from Guangzhou, Shenzhen, Zhuhai starts 22 Aug Central government task force comes to HK to study/discuss offshore RMB deposit taking details with HKMA, etc. end Aug Western Corridor work starts (connecting Yuen Long and Shenzhen) 30 Aug HK-Zhuhai-Macau bridge liaison group meets ?? Sep Investment Immigration Scheme implementation details (HK$6.5m investment for residency in HK) 01 Sep Individual Travel from Beijing and Shanghai starts ?? Sep all CEPA implementation details to be finalised (by end-Sep), e.g. definition of origin of goods, what is a 'Hong Kong company', etc. 1-7 Oct National Day Golden Week holiday H2 03 more announcement on QDII 1May04 Individual Travel extends to whole of Guangdong Source: UBS

  4. Region Strategic focus International financial centre Logistics centre Hong Kong Service industry centre Window for fund raising and goods import/export Regional financial centre, providing banking and insurance services Shenzhen Manufacturing base, focus on high technology Ports and airport to supplement Hong Kong Manufacturing base Dongguan Regional financial centre, providing banking and insurance services Guangzhou Heavy petro chemical base, supplying raw material for industries Ports mainly for supplementing Hong Kong Including Zhuhai, Zhongshan, Jiangmen, etc. West PRD Hinterland for developming industry and commerce GPRD – divide (the roles) and rule (together) New strategic economic positioning of GPRD cities: Source: HKET

  5. Opportunities • HK as bridgehead to China, one more time (HK companies – CEPA) • Long term supply of tourists • 80’s Taiwan • 90’s Japanese and SEA • Tourism and support industries • Logistics center (with PRD cooperation) • Financial center (on our own strength) • China markets for HK entrepreneurs (wealth creation)

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