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Executive Report on Strategies in Hong Kong
ICON Group International, June 2007, Pages: 392
How to Strategically Evaluate Hong Kong
Perhaps the most efficient way of evaluating Hong Kong is to consider key dimensions which themselves are composites of multiple factors. Composite portfolio approaches have long been used by strategic planners. The biggest challenge in this approach is to choose the appropriate factors that are the most relevant to international planning. The two measures of greatest relevance are “latent demand” and “market accessibility”. The figure below summarizes the key dimensions and recommendations of such an approach. Using these two composites, one can prioritize all countries of the world. Countries of high latent demand and high relative accessibility (e.g. easier entry for one firm compared to other firms) are given highest priority. The figure below shows two different scenarios. Accessibility is defined as a firm’s ease of entering or supplying from or to a market (the “supply side”), and latent demand is an indicator of the potential in serving from or to the market (the “demand side”).
Framework for Prioritizing Countries
Demand/Market Potential Driven Firm
Relative Accessibility
Accessibility/Supply Averse Firm
Relative Accessibility
In the top figure, the firm is driven by market potential, whereas the bottom figure represents a firm that is driven by costs or by an aversion to difficult markets. This report treats the reader as coming from a “generic firm” approaching the global market - neither a market-driven nor a cost-driven company. Planners must therefore augment this report with their own company-specific factors that might change the priorities.
Latent Demand and Accessibility in Hong Kong
This report provides an extremely detailed overview of factors driving latent demand and accessibility in Hong Kong. Latent demand is largely driven by economic fundamentals. But, latent demand only represents half of the picture. A country may at first sight appear to be attractive due to a high latent demand, but it is often less attractive when one considers at the macro level how easy it might be to serve that entire potential and/or general business risks.
Chapter 2 deals with macro-accessibility. While accessibility will always vary from one company to another for a given country, the following domains are typically considered when evaluating macro-accessibility in Hong Kong:
Openness to Trade in Hong Kong
Openness to Direct Investment in Hong Kong
Local Marketing and Entry Strategy Alternatives
Local Human Resources
Local Risks
Across these domains, a number of not-so-obvious factors can affect accessibility and risk. These are also covered in Chapter 2, which is presented from the perspective of an American firm, though it is equally applicable to most firms entering Hong Kong. This chapter has been authored by local offices of the U.S. Government. I have included a number of edits to clarify the provided information as it relates to the general strategic framework.
In Chapter 3, I summarize the economic potential for Hong Kong over the next five years for hundreds of industries, categories, and products. The goal of this chapter is to report my findings on the real economic potential, or latent demand, represented by Hong Kong when defined as an area of dominant influence. The data presented are the result of various spatial econometric and time-series forecasting models which, for each category presented, are applied to forecast and allocate latent demand across all countries of the world and major distribution centers or centers of dominant influence within each country. This is accomplished knowing that economic fundamentals (e.g. income) generally vary from one country to another within a given country over time. In this chapter, I report the allocation for each category for Hong Kong as an area of dominant influence in Asia and, potentially, the world.
The report concludes with trade indicators for Hong Kong. Often, the amount of trade flowing into and out of a country is a strong indicator of trading partners, trade openness, and related latent demand. Trade indicators are purely statistical in nature. Although international trade is not a direct measure of latent demand, it does provide an indicator of general market conditions with respect to trade flows and trade openness in Hong Kong.
As a whole, this report presents a strategic assessment of Hong Kong by considering an extremely broad set of factors affecting both latent demand and accessibility, as outlined in the following chapters.
MACRO-ACCESSIBILITY IN HONG KONG
Government Intervention Risks
The Hong Kong government pursues a generally non-interventionist approach to economic policy that stresses the predominant role of the private sector. Prior to the high-tech downturn, the government became somewhat more proactive in support of high technology development. The Hong Kong government describes its economic policy as, 'big market, small government,' and says the government should act as a 'proactive market enabler.' This means reducing government expenditure, investing in human resources, providing infrastructure that the private sector will not invest in, and securing foreign market access for local exports. The government has also said it will facilitate the movement of Hong Kong firms up the value-added chain in the financial services, logistics, tourism, and producer and professional services sectors. In addition, it seeks to leverage Hong Kongs traditional ties to the mainland by encouraging greater flows of people, goods, information, and services.
Hong Kong has consistently supported an open multilateral trading system. The government is an active member of the World Trade Organization (WTO) and the Asia Pacific Economic Cooperation Forum (APEC). Hong Kong maintains no anti-dumping laws, countervailing duty laws, import quotas or tariffs. There are consumption taxes on a few items that apply equally to imports and local products. Hong Kong urges similar open trade policies for its trading partners. Hong Kong is a separate customs territory.
The tax system in Hong Kong is simple and tax rates are low. The business profits tax is payable only on net profits arising in Hong Kong or derived from business performed in Hong Kong. There are no taxes on capital gains, dividends, or interest. Other government revenue sources include a stamp duty on property and stock market transactions, betting duties, an estate duty and a hotel accommodation tax. Under the Sino-British Joint Declaration and Chinas Basic Law on Hong Kong, Beijing cannot tax Hong Kong or otherwise extract revenue from the Hong Kong government. Beijing also plays no role in formulating Hong Kongs budget and fiscal policies.
Infrastructure Situation
Hong Kongs modern and efficient infrastructure supports Hong Kongs role as a trade entrepot and regional financial and services center. Rapid growth has placed severe demands on that infrastructure, requiring major new investments, particularly for transportation and shipping facilities.
Airport
Sixty-five international airlines operated some 3,900 scheduled flights per week between Hong Kong and 130 cities around the world. Hong Kong is a major gateway to China. There are direct flights from Hong Kong to nearly 40 mainland cities. The demand for services to China is growing. The Hong Kong airport is in the worlds top ranks in terms of passenger and cargo throughput.
With 24-hour operations, two all-weather runways, an ability to cater to all types of commercial aircraft, and high-speed transport links from the terminal to the city, the airport is well positioned to meet Hong Kongs aviation needs in the coming decades.
The airport has a multi-modal marine cargo terminal that provides vessel services between 16 ports in the Pearl River Delta and the airport. The Airport Authority has awarded contracts for new logistics and air express cargo centers. It has plans for other commercial developments to boost revenues, including an international exhibition center, an office and retail complex and a cross-boundary passenger ferry terminal. The Hong Kong Civil Aviation Department is in the early stages of a complete upgrade of its air traffic control system.
Roads and Railroads
Hong Kongs roads have one of the highest vehicle densities in the world. High vehicle density, combined with difficult terrain and high density building development, poses a constant challenge to transport planning, road construction and maintenance.
Hong Kong is serviced by three major railway systems. The Mass Transit Railway Corporation (MTRC) operates a five-line metro system, including the 34km Airport Express. The Kowloon-Canton Railway Corporation (KCRC) operates a 34km line that services the new towns in the Northeastern New Territories and also provides border crossing and freight service into China. In addition, KCRC also operates a Light Rail Transit System in the Northwestern New Territories.
Environment
The Hong Kong government has been developing tighter vehicle emission standards as well as encouraging the use of cleaner fuel to improve the citys air quality. With the provision of government grants, more than 93 percent of all taxis have switched to liquefied petroleum gas (LPG). The Government is also working with the Guangdong Provincial Government in an attempt to combat regional air pollution.
The Waste Reduction Framework Plan (WRFP), sets out the various waste reduction and recycling initiatives the government has put in place. On a daily basis, Hong Kong generates more than 16,800 tons of municipal waste. At this rate, Hong Kongs three existing landfills will be full within the next 10 to 15 years. The Government is now embarking on an intensive program to provide recycling facilities, but Hong Kong will eventually need new waste treatment or disposal facilities.
Macau Economic Scene
Macau is a thirteen square mile territory of approximately 450,000 persons. It became a Special Administrative Region of the Peoples Republic of China on December 20, 1999.
U.S. business interests in Macau are modest but growing significantly. There are approximately 600 Americans residing in Macau, engaged in business, academic and missionary work. The United States is Macaus most important foreign market, taking nearly 46.2 percent of Macaus total exports. Imports from the United States amount to 4.1 percent of Macaus total imports.
Macaus most important industries are textiles, gaming, and tourism. The Macau government awarded gambling concessions to two companies with U.S. interests in February 2002, thereby ending a 40-year gambling monopoly held by a local Macau company. This opening of the gaming sector is expected to lead to significant new investment in casinos, hotels, and related facilities. It should dramatically raise the U.S. business profile in Macau and is the centerpiece of the governments efforts to transform Macau into a Las Vegas-style gaming, convention, and family-oriented holiday destination. Macau also hopes to leverage its well-developed infrastructure, relatively low rents, and warehouse capacity to become a gateway to China.
Pearl River Delta - Hong Kongs Hinterland
Located in the southern part of Guangdong Province, the Pearl River Delta (PRD) covers an area of 42,821 sq. km and is home to 47.8 million people. The PRD is Chinas largest export base, especially in consumer goods. To many foreign companies, setting up production bases in the PRD is part of their strategy for penetrating the domestic market of China. For the past decade, the eight mainland cities that form the core of the PRD have absorbed Chinas largest share of FDI. What is unusual about this region versus other economically vibrant regions in the mainland is that its growth has been fueled mainly by the private sector, not government expenditures.
Hong Kong has been a big part of this boom. Since the early 1980s, much of Hong Kongs manufacturing base has moved to the PRD in search of lower-cost land and labor. As a result, 63,000 Hong Kong enterprises now own and manage a far-reaching network of activities in the area employing nearly 11 million people (58 times the size of Hong Kongs own manufacturing workforce). Most of these companies are SMEs that are able to adapt quickly to market changes but do not command the access or leverage larger entities have with local authorities. The majority of Hong Kong investment that flows into China continues to be directed at the PRD. The relationship is a win-win situation. The assembly of goods takes place in the PRD but the high value-added elements, such as management, design, quality control, and finance, remain in Hong Kong. Shifting its manufacturing base has also allowed Hong Kongs economy to focus on the service sector, which brings with it higher paying jobs. Products formerly known around the world as 'Made in Hong Kong' could now rightly be marked 'Made by Hong Kong.'
The PRDs Cantonese speaking population is heavily influenced in forming its tastes and fashions by Hong Kongs Cantonese language media. According to Hong Kong public relations agencies, at least 20 percent of Hong Kong broadcast advertising is directed towards mainland consumers. This trend in targeting the mainland customer shows that Hong Kong-based companies look to the PRD not only as a low cost manufacturing base, but also more and more as a market in and of itself. For example, the Hong Kong office of the convenience store 7-11 has finalized plans to open 300 outlets throughout Guangdong Province. Other leading Hong Kong restaurants and clothing chains are also looking at opening up branches.
The PRDs infrastructure is constantly changing. At the top of the list of priorities is infrastructure that will better integrate Hong Kong and the region including: the construction of the Shenzhen Western Corridor; a 5.1 km bridge from Tuen Mun to Dongjiaotou; a new logistic center for the Shenzhen airport; and a light rail to run from Shenzhen to Guangzhou. In addition, Guangdong provinces telecom infrastructure is the pride of the nation with more than 24 million mobile subscribers, 16 percent of Chinas total and over 10 percent of Chinas 34 million Internet users. All of this rapid development provides opportunities for U.S. companies.
The synergy between the PRD and Hong Kong will substantially benefit the economic development of the region. The signing of the Closer Economic Partnership Agreement (CEPA) on June 29, 2003 between Hong Kong and the mainland will spur this development. On the one hand, Hong Kong and the PRD will together further develop into a production base in the global supply chain. On the other hand, Hong Kong and the PRD can well serve as the operational center for foreign companies targeting Chinas domestic market.
Despite this complementary economic relationship, Chinas cumbersome and non-transparent regulatory system continues to hamper some areas of cooperation. With several competing jurisdictions, resource allocation is often not as efficient as it could be. This is one of the main reasons U.S. companies, particularly SMEs, have been successful in the region by linking up with Hong Kong SMEs to market their products and services to this dynamic PRD region.
Political Risks
Nature of Political Relationship with the United States
The United States and Hong Kong maintain close and cooperative relations. Hong Kong is our fifteenth largest trading partner overall. The United States maintains a wide number of cultural and educational exchanges with Hong Kong, and enjoys excellent cooperation in the international effort against global terrorism and in law enforcement matters. As many as 50,000 American citizens reside in Hong Kong and about 1,100 U.S. companies have offices there. U.S. Navy ships make regular port calls to Hong Kong.
Major Political Issues Affecting the Business Climate
Hong Kong became a 'Special Administrative Region' (HKSAR) of the Peoples Republic of China on July 1, 1997. The Sino-British Joint Declaration, signed in 1984, and the Basic Law of the HKSAR, passed by Chinas National Peoples Congress in 1990, form the legal basis for Chinas 'One Country, Two Systems' guarantees for Hong Kong. The HKSAR has a high degree of autonomy, and enjoys independent executive, legislative and judicial power. The HKSAR Government negotiates its own bilateral agreements and makes major economic decisions. The central government in Beijing is responsible for the foreign affairs and defense of the HKSAR.
Since reversion, the HKSAR has maintained its capitalist system, retained the status of a free port and international financial center and continued a free trade policy with free movement of goods and capital. It formulates its own monetary and financial policies and safeguards the free operation of business and financial markets. The Basic Law states that the HKSAR will maintain its own currency and use revenues exclusively for its own purposes. The Hong Kong Dollar continues to be freely convertible and foreign exchange, gold and securities markets operate as before. Hong Kongs 1997 reversion did not change Hong Kongs economic regulatory and supervisory framework. Hong Kong has separate membership in international organizations such as the World Trade Organization, APEC and the World Customs Organization.
The Political System
When Hong Kong became a Special Administrative Region of China in July 1997, the Basic Law guaranteed for 50 years the continuation of the rights and freedoms that Hong Kong residents already enjoyed: in essence, the continued rule of law and the life-style of the Hong Kong people. Hong Kongs legal system, including the independence of the judiciary and the obligation of the executive authorities to abide by the law, has also continued.
Hong Kong is a free society with legally protected rights. Hong Kongs human rights record is excellent. The police force is under civilian control. A Chinese Peoples Liberation Army garrison remains a largely unseen and symbolic pressure in Hong Kong. The Hong Kong government has a layer of politically-appointed 'ministers' between the Chief Executive and the Civil Service. Its Executive Council, which is similar to the U.S. Cabinet, includes all the Secretaries of policy bureaus. The judiciary is an independent body, which operates according to the precepts of the Common Law, with certain variations. The Basic Law (Article 8) stipulates that the laws in force in Hong Kong before reversion, except for any which contravene the Basic Law, remain in force. The Court of Final Appeal (CFA) is the final adjudicator of cases brought in Hong Kong courts. Under the Basic Law, the power of interpretation of the Basic Law is vested in Chinas National Peoples Congress Standing Committee, but Hong Kong courts are authorized to interpret, on their own, provisions of the Basic Law that are within the limits of the autonomy of the HKSAR.
Macau Political Scene
Under the principle of 'one country, two systems' specified in the 1987 Sino-Portuguese Joint Declaration, the Macau Special Administrative Region (SAR) enjoys a high degree of autonomy except in foreign affairs and defense. The Joint Declaration and Basic Law (the Special Administrative Regions mini-constitution) specify that Macaus economy and way of life will remain unchanged for 50 years. After the 1999 handover, laws in force continued to apply. New laws were passed to provide for a new judicial system, including the establishment of a Court of Final Appeal. Macaus judiciary is independent.
Macaus human rights record is good. The police force is under civilian control. A Chinese Peoples Liberation Army garrison in Macau serves primarily as a symbolic presence to underscore Chinese sovereignty. The government has made dealing with crime and corruption a priority, and its efforts, coupled with a clampdown on organized-crime activity on the Chinese side of the border, have resulted in a sharp decrease in organized-crime violence.
Marketing Products and Services
For many American products and services, initial market penetration in Hong Kong does not require an expensive investment. Given that Hong Kong is a 'free port' with virtually no duties or tariffs and that it has a wide-ranging network of agents and distributors, a well-managed market penetration program with a moderate investment in market development is generally all that is required initially. Due to its open nature, however, Hong Kong is among the most competitive and price sensitive markets in the world. Companies considering entering this market should be aware that the Hong Kong business climate is extremely fast-paced. Decisions are made quickly, and companies need to be able to respond to inquiries immediately or they risk losing the market to faster moving suppliers.
Numerous American products and services can be found in Hong Kong, and throughout China. Many excellent agents and distributors for China are located in Hong Kong, although given Chinas size and diversity, it is sometimes advisable to work with different agents for different regions of China. Hong Kong companies are eager to talk to potential exporters and have a strong interest in representing good quality, competitively-priced U.S. products from companies committed to the market. Commitment to the market is demonstrated in various ways but should include: quoting in metric, providing Chinese language material, responding quickly to inquiries, meeting relevant standards, and visiting the market for first-hand understanding and relationship building.
Distribution and Sales Channels
One of the best ways to sell products in Hong Kong is through the use of agents or distributors. It is also an excellent way of minimizing the initial investment in the market. There is a wide range of companies that can serve as agents or distributors for U.S. firms. Other options for pursuing Hong Kongs market are establishing an office or partnering. Companies that are looking to sell equipment needing long-term maintenance, technical support or installation, or are seeking to become involved in infrastructure projects, frequently seek to partner with local companies.
Use of Agents and Distributors/Finding a Partner
Working with agents and distributors in Hong Kong is very much like working with an agent in the United States. An agent takes orders in the suppliers name. Distributors act in their own name and may stock products purchased from the manufacturer for resale. The choice depends on the relationship with which the manufacturer/supplier is most comfortable and the nature of the business.
Hong Kong has no special legislation regarding agents and distributors. Virtually anything which both sides can agree to and put into a written contract is acceptable and enforceable, including restrictions on territory and a grace period for termination of the agreement. While not required by Hong Kong law, the more complex the contract, the more helpful legal counsel can be in drafting the text. Items that are often in the contract include:
Discussion of exclusivity and sales territories (always a sensitive issue; business people should be careful about granting an exclusive agency too soon or in too large a territory if the agent is to have coverage beyond Hong Kong.)
Discussion of proprietary information (local law prohibits theft of intellectual property, but prevention of piracy is always less expensive and more effective than post-facto legal action.)
Levels of sales activity - set specific targets and goals to qualify for maintaining or renewing the agreement
Duration
Payment terms
Quality control - inspection - verification
Rule of law - jurisdiction in the United States vs. Hong Kong (it is generally Hong Kong, but another location may be specified - usually for arbitration.)
Covenants restricting activity following cancellation of the contract.
There are many types of agents and distributors in Hong Kong, ranging from those who simply stock retail stores with standard items to agents who provide sales, engineering and technical support for complex systems. It is common for a single company to deal in a wide variety of products in a particular sector. Agents and trading companies may be less specialized than companies in a large economy like the United States, but the best ones are focused and have contacts in a general line of business.
Franchising
The concept of franchising has been catching on in Hong Kong for the past decade, in line with Hong Kong consumers becoming more affluent. Nearly 80 percent of the franchise operations in Hong Kong are of U.S. origin. Home-grown franchises have also developed, especially in catering and fashion wear. Many have expanded their franchises to southeast Asia and China.
Direct Sales
Hong Kong has a well-developed network of retail outlets. Supermarkets, department stores, convenience stores and modern shopping malls have become increasingly popular, because of their easy access, convenient location and seven-day availability. Consumers prefer buying products from retail outlets to buying products sales through mail order and person-to-person selling, as they consider retail shopping a leisure activity. Direct sales account for less than one percent of total retail sales though it has increased in popularity following the economic slowdown in 1998. Many who lost their jobs turned to direct selling while others who suffered pay cuts joined direct selling companies to augment their incomes. Direct sales surged between five percent and 10 percent over the past few years. Many local companies, particularly Chinese herbal supplement distributors, have adopted direct sales.
Joint Ventures/Licensing
Joint ventures or strategic alliances can be very helpful in entering the market, and are particularly important in competing for major projects.
Licensing is increasingly common in the field of brand-name product manufacturing and marketing.
Steps to Establishing an Office
Foreign companies are allowed to incorporate their operations freely in Hong Kong, to register branches, or to set up representative offices. There is no restriction on the ownership of such operations. Company directors need not be citizens of, or reside in, Hong Kong. Reporting requirements are straightforward and not onerous. There is no distinction in law or practice between investment by foreign-controlled companies and those controlled by local interests. There are no disincentives to foreign investment such as limitations on the use or transfer of foreign currency, or any system of quotas, performance requirements, bonds, deposits, or other similar regulations. High labor and rental costs are the major disincentives to establishing a presence in Hong Kong.
To incorporate or register an overseas company, the company should first file statutory declarations with the Registrar of Companies. It should then submit necessary documents to the Administration Section of the Companies Registry. Specific information on establishing an office in Hong Kong is available at:
Overseas Companies Section
Companies Registry
29/F, Queensway Government Offices
66 Queensway
Hong Kong
Tel: (852) 2867-4655
Fax: (852) 2523-5629
E-mail: crenq@cr.gov.hk
Web site: http://www.info.gov.hk/cr
Another reference publication is 'Establishing an Office in Hong Kong' an annual 'how to' handbook with reviews of business services as varied as freight forwarding, law, and consulting, published by The American Chamber of Commerce in Hong Kong.
Selling Factors/Techniques
The major selling factors are the same as in the United States: price, quality, timeliness in delivery, and service. Initial sales require more face-to-face contact as Asians generally place a premium on developing personal connections.
Advertising and Trade Promotion
U.S. companies can use a variety of promotional vehicles to introduce and raise the visibility of their products and services in the Hong Kong market. These include:
Special trade fairs and exhibitions
Advertising in the media and other public relations activities
Seminars
In-store promotions
Joint promotions with wholesale and retail outlets
Hong Kong is a major conference and exhibition center. Hundreds of international exhibitions are held annually. The Hong Kong Convention and Exhibition Centre (operated by the quasi-governmental Hong Kong Trade Development Council), has approximately 500,000 square feet of exhibition space, including 300,000 square feet added in a major expansion completed in the summer of 1997. For more information please contact:
Hong Kong Convention & Exhibition Centre
No. 1 Expo Drive
Wan Chai, Hong Kong
Venue Booking Hotline
(852) 2582-1111
Tel: (852) 2582-8888
Fax: (852) 2802-7284
E-mail: info@hkcec.com
Web site: www.hkcec.com
Television is a widely used medium with an estimated daily audience of 2.25 million households out of a population of nearly 6.8 million people. Hong Kong Television also reaches much of neighboring Guangdong Province in China, where it is very popular.
As one of the largest centers in the world for Chinese language publications, the territory produces more than 760 publications, including 53 newspapers (25 are Chinese, 10 English, five bilingual, five in other languages and other news agency bulletins), a number of electronic newspapers, and 709 periodicals. Advertising agencies, including many of international standing, offer a full range of services in Hong Kong.
Suppliers should provide technical catalogs in English, and preferably in Chinese as well, for distribution to agents and firms. Company brochures are particularly useful when visiting Hong Kong for the first time. English-Chinese business cards are also helpful.
Newspapers
South China Morning Post
South China Morning Post Publishers Limited
29/F, Dorset House, Taikoo Place
979 Kings Road
Quarry Bay, Hong Kong
Tel: (852) 2565-2333
Fax: (852) 2833-0067
E-mail: info@scmp.com
Web site: www.scmp.com
The Standard
Sing Tao Holdings Ltd.
3/F, Sing Tao Building
1 Wang Kwong Road
Kowloon Bay
Kowloon, Hong Kong
Tel: (852) 2798-2798
Fax: (852) 2795-3009
Web site: www.thestandard.com.hk
Chinese Newspapers
Apple Daily
8, Chun Ying Street
Tseung Kwan O Industrial Estate West
Tseung Kwan O, N.T.
Hong Kong
Tel: (852) 2990-8388
Fax: (852) 2741-0830
Web site: www.appledaily.atnext.com
Hong Kong Economic Journal
4/F, North Point Industrial Building
499 Kings Road, North Point
Hong Kong
Tel: (852) 2856-7502
Fax: (852) 2597-5822
Hong Kong Economic Times
6-7/F, Kodak House II
321 Java Road, North Point
Hong Kong
Tel: (852) 2565-4288
Fax: (852) 2811-1926
Ming Pao Daily News
Ming Pao Newspapers Limited
15/F, Block A, Ming Pao Industrial Centre
18 Ka Yip Street, Chai Wan
Hong Kong
Tel: (852) 2595-3111
Fax: (852) 2898-3783
Web site: www.mingpao.com
Oriental Daily News
Oriental Press Centre
Wang Tai Road
Kowloon Bay, Kowloon
Hong Kong
Tel: (852) 2795-1111
Fax: (852) 2795-2299
E-mail: odninfo@oriental.com.hk
Web site: www.orientaldaily.com.hk
Sing Tao Daily
Sing Tao Limited
3/F, Tower B, Sing Tao Building
1 Wang Kwong Road
Kowloon Bay, Kowloon
Hong Kong
Tel: (852) 2798-2323
Fax: (852) 2795-3022
E-mail: info@singtao.com
Web site: www.singtao.com
Trade Journals
AmCham (Monthly)
American Chamber of Commerce in Hong Kong
1904 Bank of America Tower
Central, Hong Kong
Tel: (852) 2526-0165
Fax: (852) 2537-1682
E-mail: amcham@amcham.org.hk
Web site: www.amcham.org.hk
Asia Computer Weekly (ACW)
CMP Asia Ltd.
17/F, China Resources Building
26 Harbour Road
Wanchai, Hong Kong
Tel: (852) 2827-6211
Fax: (852) 2805-5696
Web site: www.asiacomputerweekly.com
Building Journal
Construction & Contract News (Monthly)
China Trend Building Press Ltd.
Room 901, C.C. Wu Building
302 Hennessy Road
Wan Chai, Hong Kong
Tel: (852) 2802-6299
Fax: (852) 2802-6458
E-mail: trend@building.com.hk
Web site: www.building.com.hk
Far Eastern Economic Review (Weekly)
Review Publishing Company Limited
25/F, Citicorp Center
18 Whitfield Road
Causeway Bay, Hong Kong
Tel: (852) 2508-4300
Fax: (852) 2503-1537
E-mail: review@feer.com
Web site: www.feer.com
Fortune
CCI Asia-Pacific Ltd.
23/F, Tianjin Building
167 Connaught Road West
Hong Kong
Tel: (852) 2858-0789
Fax: (852) 2857-6309
E-mail: marketing@cci.com.hk
Web site: www.cci.com.hk
Hong Kong Entrepreneur (monthly)
The Chinese Manufacturers Association of Hong Kong
PR & Publications Division
3/F, CMA Building
64 Connaught Road Central
Hong Kong
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