US Satellite Company Sets up Asian HQ in Hong Kong

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Last updated at: (Beijing Time) Tuesday, July 23, 2002

US Satellite Company Sets up Asian HQ in Hong Kong

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A US-based satellite tracking company Tuesday announced it opened its Asian headquarters in HongKong, endorsing the city's strategic location for regional operations, especially for the rapidly growing market in China's mainland.

The new Asian headquarters in Hong Kong was set up by Aprize Asia Ltd, a Sino-US joint venture. It leverages on the Hong Kong partner's business experience in China's mainland and contacts to explore the market more speedily, effectively and with lower risk.

Aprize provides highly reliable and low cost systems for monitoring and tracking fixed and mobile assets through the deployment of next generation low-Earth orbit satellites.

Chief Executive Officer of Aprize Satellite Ltd Dr Dino Lorenzini said, "China's accession to the WTO and Western Region development present huge potential business opportunities. Hong Kong is an ideal operations base for the mainland market and a good platform for us to market our services in the region."

"With its well-developed and liberalized telecommunications andIT infrastructure, and an efficient and international business environment, Hong Kong provides excellent support for satellite communication business here," Lorenzini added.

On locating the company's regional headquarters in Hong Kong, President of Aprize Asia Ltd Chen Xing-wei explained, "Ideally situated next to our biggest user market, Hong Kong offers enormous flexibility in terms of business operation and financing.Hong Kong is therefore the natural choice for expanding Aprize's presence in Asia."

The acting Associate Director-General of Investment Promotion at Invest Hong Kong said at Tuesday's opening ceremony that this is another example of an international firm making good use of Hong Kong's advantages of being a central hub for coordinating business activities in the Asia Pacific and raising capital.

He said: "Aprize will bring in a different mode of satellite operation in Hong Kong, which is an impetus to our satellite industry."

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