Int'l expo brings business opportunity for HK

Preparation and running of the World Expo in 2010 affords unprecedented opportunities for Hong Kong to boost its business in the host city of Shanghai, said Hong Kong Financial Secretary Henry Tang at the round-table meeting held here yesterday.

Senior executives with the Bureau of Shanghai World Expo Co-ordination and Hong Kong-based representatives in the fields of infrastructure, construction, marketing and law, attended the meeting, China Daily reported Wednesday.

The Hong Kong Trade Development Council promoted the holding of the meeting, to help more Hong Kong businesses extend a presence in the city and promote communication and co-operation between the two.

"Hong Kong, as part of China, shares the feelings of excitement and is proud of our success in winning the bid for the grand event," said Tang.

Adding: "The good relationship between Shanghai and Hong Kong will also help the latter to grasp the great business potential of the event."

As the total investment in the expo will reach 30 billion yuan (US$3.63 billion), a wide variety of businesses will be involved and stand to benefit from the event, said Dai Liu, deputy director of the co-ordination bureau and chairman of the Shanghai World Expo (Group) Co Ltd.

The development of the 5.28-square-kilometre expo site will cost an estimated 20 billion yuan (US$2.42 billion). Construction and operation of the venues from 2008 to early 2010 is expected to cost 10 billion yuan (US$1.21 billion).

"The success of the event calls for ample investment and effective capital utilization," said Dai.

Hong Kong enterprises are welcome to participate in the construction and operation of exhibition halls and supplementary facilities whose total area will extend to approximately 1.2 million square metres.

A complete world expo brand system comprising three layers of partners, senior sponsors and sponsors is to be set up, the aim of which will be raise its profile internationally and business value of those parties involved.

Franchised operation of logos and brands of the expo will be launched at the appropriate time, Dai added.

With the aim of attracting 200 participating countries and regions and 70 million visitors to the 180-day event, Shanghai has vowed to host the most successful expo ever.

"To ensure its smooth running, the city is taking major steps to comprehensively improve its environment, facilities and infrastructure," said Dai. Remarking: "There is huge business potential here."

Many Hong Kong representatives expressed considerable interest in participating in the preparatory work of the event.

(China Daily)