Hong Kong Special Administrative Region of the People’s Republic of China Presented by: Derek Anderson Lisa Boland Koreen Hansen Janice Ng Cordell Rogers Laura Severson

Outline  Economic Growth and Challenges  Political Impact  Culture  Doing Business in Hong Kong  The Church of Jesus Christ of Latter-day Saints in Hong Kong

Hong Kong 4 Main Areas:  Hong Kong Island  Kowloon  New Territories  Outlying Islands

Economic Base  International finance and trade center –2 nd largest stock market in Asia –9 th largest banking center –7 th largest exchange market  Popular tourist destination  Regional base of over 3,000 multi-national corporations  World's freest market  8th most competitive economy in the world

Major Economic Activities

Disneyland: Where Hong Kong's Dreams Come True  Project will generate: –$148 billion boost to the economy over a 40 year period

Government's Financial Involvement Spending a total of $22.45 billion  $3.25 billion equity  $5.6 billion loan to the project company  Be repaid with interest over 25 years  $13.6 billion in land formation & infrastructure costs

Political Climate  HKSAR – one country, two systems –Chief Executive and Legislative Council  Falun Gong  “Tung Chee-hua, step down!”

Political Impact on Business  Government shifting from laissez-faire to interventionist  Bridge between China and the world  Future of Hong Kong as an international financial center

Culture  Business Hours –Mon – Fri. 9AM – 5PM –Saturday 9AM – 1PM  Greetings & gestures –English & Chinese –Shake Hands –Address with full name –Sit with hands in lap & feet on floor

Culture  Visiting –Often in restaurants but also in homes –Shoes off  Eating –Generally use chopsticks to help yourself to dishes placed in center of the table –Sometimes host or parent serves portions

Technology Transfer in Hong Kong  Little copyright protection in mainland China  Connections with manufacturing in mainland China

 Consumer electronics manufacturer  Headquartered in Hong Kong  Manufacturing in Mainland China  Oritron brand name in China and many brand names elsewhere  US$400 million company  Insights

Hong Kong Temple