Leading Insurance Group Expresses Confidence in HKWith China's accession to the World Trade Organization, Hong Kong's position as the regional gateway will become increasingly important, Chief Executive of Standard Life Investments Sandy Crombie said Wednesday.During a courtesy call on the Secretary for Financial Services Stephen Ip, Crombie said, "our continued investment in our Hong Kong operations is the best evidence of our confidence in and commitment to the region and local community." Ip said, "Hong Kong is one of the most open insurance centers in the world and the regional center for portfolio management activity. The presence of prominent insurance groups like the Standard Life here will help reinforce Hong Kong's reputation as a leading financial center." Standard Life, a leading insurance company based in England, has selected Hong Kong for its regional headquarters in the Asia Pacific after a location analysis of Hong Kong and Singapore. It is amongst the multinational companies flocking to Hong Kong to tap the tremendous business opportunities ahead of China's accession to WTO. More than 150 multinational corporations had set up regional headquarters in Hong Kong during the first half of year 2001. |
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