Replies to initial written questions raised by Finance Committee Members in examining the Estimates of Expenditure 2012-13 Director of Bureau : Secretary for Commerce and Economic Development Session No. 12 File name : cedb(cit)- doc

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  Hong Kong and Taiwan have all along been each other’s important trading partner. In 2011, Taiwan was Hong Kong’s fourth largest trading partner (after the Mainland, the United States and Japan); our third largest market for domestic exports; 6th largest market for re-exports; and 4th largest source of imports
  

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  Reciprocally, Hong Kong was Taiwan’s fourth largest trading partner (after the Mainland, Japan and the United States), second largest export market and 28^th largest source of imports in 2010 according to statistics from Taiwan.
  

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  The average annual growth rate in bilateral trade was 6% from 2007 to 2011. The bilateral trade decreased by 7% in 2009 due to the financial crisis, but rebounded by 27% in 2010. The bilateral trade further increased by 11% in 2011.
  

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  As at end of 2010, Taiwan was the 12^th major source of inward direct investment (IDI) into Hong Kong with an IDI stock of $58.1 billion, and the 18^th major destination of outward direct investment (ODI) from Hong Kong, with an ODI stock of $18.5 billion.
  

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  On tourism, Taiwan is Hong Kong’s second largest source market. According to data from the Hong Kong Tourism Board (HKTB), total visitor arrivals from Taiwan in 2011 were close to 2.15 million, and the total tourism expenditure associated to inbound Taiwanese visitors was projected at $5.432 billion. Among these, around 780 000 arrivals were overnight visitors with higher spending. Their per capita spending was estimated at $5,813.
  

(b) The Hong Kong Special Administrative Region Government has been actively promoting co-operation with Taiwan in the areas of trade, investment and tourism. Relevant work in 2012-13 would include –

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  On trade promotion, the Hong Kong Trade Development Council (HKTDC) Taipei Office will continue to promote Hong Kong’s services industries. HKTDC will encourage Taiwan brands to co-operate with Hong Kong companies, and to leverage on Hong Kong’s services platform to tap overseas and Mainland markets together. In 2012-13, HKTDC will continue to promote trade and business co-operation between Hong Kong and Taiwan by means of different programmes such as organising trade fairs, outbound missions, symposiums, seminars, roadshows and business matching activities, etc. The estimated budget of HKTDC for trade promotion in Taiwan in 2012-13 is about $6 million, which is comparable to the estimated expenditure in 2011-12.
  

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  On investment promotion, Invest Hong Kong (InvestHK) will continue to step up its promotional efforts in Taiwan, which include organising various programmes, to encourage and assist Taiwan companies to set up or expand their business in Hong Kong. In 2012-13, through its new investment promotion unit in the Hong Kong Economic, Trade and Cultural Office in Taiwan, InvestHK will reach out proactively to a wider spectrum of Taiwan companies and conduct investment promotion visits in different cities in Taiwan. InvestHK will also maintain close liaison with the Taiwan business community and representatives of Taiwan business associations in Hong Kong and provide them with the necessary support. The estimated budget of InvestHK for investment promotion in Taiwan in 2012-13 is about $1.1 million, while the estimated expenditure in 2011-12 is about $1 million.
  

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  On tourism, Taiwan is Hong Kong’s second largest source market. HKTB established an official office in Taipei in September 2011, which would further strengthen HKTB’s presence and its promotion work in Taiwan, and deepen the exchanges and collaboration between the travel trade of the two places. In 2012-13, HKTB will continue its efforts in carrying out active promotion work in the Taiwan market. It will target at family and young visitor segments to attract more overnight vacation visitors to Hong Kong, and will step up its promotion work in the second-tier cities in Taiwan (such as Taichung and Kaohsiung). The estimated marketing budget of HKTB for Taiwan in 2012-13 is about $11.7 million, while the estimated expenditure in 2011-12 is about $11 million.
  

Moreover, the Government will continue to, through the platform of “Hong Kong-Taiwan Economic and Cultural Co-operation and Promotion Council” and “Hong Kong – Taiwan Business Co-operation Committee” of Hong Kong, and the “Taiwan-Hong Kong Economic and Cultural Co-operation Council” and “Economic Co-operation Committee” of Taiwan, enhance multi-faceted and in-depth exchanges between Hong Kong and Taiwan and strengthen bilateral economic co-operation, with a view to promoting economic and trade development of the Mainland, Hong Kong and Taiwan.

Signature
Name in block letters	Andrew HY WONG
Post Title	Permanent Secretary for Commerce and Economic Development (Commerce, Industry and Tourism)
Date	29.2.2012

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