Hong Kong Financial Secretary hosted by Asia:NZ

Mr John Tsang, Financial Secretary of Hong Kong SAR, visited New Zealand in early December 2010 and was hosted to dinner by Asia:NZ Chairman, Hon Philip Burdon in Auckland.

This was an opportunity for the foundation’s private sector partners to exchange views and share information with a political leader of the Asian region.

Discussion was wide-ranging and included currency management, the new stamp duty just introduced to Hong Kong, Hong Kong’s successful management of the global financial crisis, free trade and regional economic issues.

Mr Tsang had just met with Trade Minister Tim Groser who announced that, with both Hong Kong and New Zealand having completed the necessary legislative measures, the New Zealand-Hong Kong Closer Economic Partnership Agreement (CEP) would enter into force on 1 January 2011.

The following morning Mr Tsang met Finance Minister Bill English to sign a double tax agreement between the two countries.

In the first half of 2010, Hong Kong’s GDP increased by a robust 7.2 percent, largely attributable to the return of domestic demand and strong exports to mainland China. 

Hong Kong is New Zealand’s ninth largest export market, worth $850 million in the year to September 2010.

Photos:

1. John Tsang; Trish Carter, Asia New Zealand Foundation Trustee; and Hon Philip Burdon, Chairman of Asia New Zealand Foundation.

2. Steve Barclay, Director of Hong Kong Economic and Trade Office, Sydney; David Figgins, New Zealand Country Manager, Cathay Pacific; and David Green, Managing Director – Institutional NZ, ANZ Bank.

3. David Gaston, Ministry of Foreign Affairs and Trade; Chris Wong, member of the Asia:NZ Young Leaders Network (ANZ Bank); and Kubé Jones-Neill, Director, Nightbird Communications