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Interview: "Hong Kong Will Become More Important With China's Entry Into WTO" by Ou Sa
"Hong Kong will become more important with China's entry into WTO," said U.S. Chief Commercial Consul in Hong Kong Barry I Friedman.
In an exclusive interview with Xinhua recently, the consul disagreed with the view that foreign investors will not need Hong Kong, once China is further integrated into the international community, saying Hong Kong has always played as a bridge between Chinese mainland and the outside world.
"China's entry into WTO will draw more overseas investment. Many companies which have never run business in China will intend to snap a chip of the huge Chinese market. But many of them may not be strong enough. They want to seek business partners. Hong Kong businessmen, who are familiar with the mainland situation and have rich international trade experience, are their ideal choice," Friedman said.
He does not believe that Hong Kong's status would be replaced by other mainland cities.
"The mainland cities, like Beijing, Shanghai, Tianjin, Guangzhou, would be developed greatly, but their development does not depend on Hong Kong's failure."
"Every city has its own specialty and advantage over another city. Hong Kong has many advantages that the mainland cities do not have, such as a spectacular deep port, clear laws, regulations and perfect location as a center of travelling," he said.
Friedman, a graduate of Hong Kong's Chinese University, feels satisfied with his current job, which provides many opportunities to apply his knowledge in Chinese study and business. "Americans like doing business in Hong Kong," he added.
"They feel convenient and comfortable here. They have had a history of 150 years of doing business here."
According to statistics, an estimated 50,000 Americans are living and working in Hong Kong. About 1,100 U.S. companies operate here, creating job opportunities for 250,000 Hong Kong people, nearly one-tenth of Hong Kong's labor force.
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