Hong Kong chief executive to pay first visit to Russia.

27/8 Tass 237

HONG KONG, August 27 (Itar-Tass) - Hong Kong Chief Executive Donald
Tsang urged Russian businessmen to take advantage of Hong Kong's
capabilities as an international financial center and for the entry on the
market of the Chinese mainland. He will pay the first visit to Moscow from
August 31 to September 2.
During Tsang's meetings with Russian officials and businessmen he
intends to discuss a broad range of issues of cooperation from finances to
trade and scientific and cultural exchanges and tourism.
The Hong Kong delegation includes 30 businesspeople, prominent bankers
and financiers. Chairman of the Hong Kong Stock Exchange Ronald Arculli is
a member of the delegation. Several business seminars are scheduled.
Tsang will bring people, who are interested in the entry on the
Russian market, including the chief executives of the major funds, which
are seeking new investment opportunities. He believes that there is a
plenty of such opportunities in Russia.
Hong Kong is an international financial center. Last year our stock
market has taken the leading position in the world with the IPO volume
exceeding 31 billion dollars. At the beginning of this year the first
Russian company RUSAL has made the listing in Hong Kong, Tsang pointed out.
Hong Kong welcomes if Russian businessmen will use the services and
capabilities of Hong Kong as 'the gateway' for the entry to the market of
the Chinese mainland, Tsang said. He added that this small, but highly
developed territory is the top investor in Chinese economy.
The Hong Kong-Russian trade has made 1.5 billion dollars in the
previous year. This is a scarce figure. Hong Kong has a higher trade even
with Myanmar. This absolutely does not match the capabilities of the
economies of Hong Kong and Russia. The countries can do much more, he
believes.
According to Tsang, the countries have broad prospects for cooperation
in science and education, culture and tourism. This summer right two Hong
Kong air companies launched direct flights to Moscow that favored the
bilateral visa-free regime. Hong Kong is building a gigantic cultural
center and wants to study the experience of other countries, including
Russia with its great museums and the rich arts, the Hong Kong leader
added.
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