Product Magazines: Product Trends

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1999/2000

AIRPORT TRANSPORT COMMUNICATIONS MAINLAND CONNECTION FINANCE BUSINESS SUPPORT HOTELS TRADE EVENTS

BUSINESS AMENITIES

The Plaza Business Centre, located on Departures Level 6 East Hall, provides a full range of secretarial services, as well as name card printing, courier services, instant photo taking, mobile phone rental, and assistance with limousine hire and travel arrangement. Tel: 2261-2668; fax: 2261-2600.

The Plaza Premium Lounge, located on Departures Level 7 West Hall in the airline CIP area, is for all passengers, irrespective of ticket class or airline. A single charge of HK$200 entitles travellers to refreshments, comfortable seating, hot showers and private toilets, as well as various business and entertainment facilities. Secretarial services are also available. Tel: 2261-2622; fax: 2261-2767.

Hongkong telecom has three outlets at the airport - at the Meeters & Greeters Hall at the Arrivals Level, Airside Departure Boarding Level and Landside Departure Check-in Level - where travellers can hire mobile phones and buy SIM cards.

Eight electronic teller machine locations can be found throughout the terminal. Banks can be found on both Arrivals and Departures levels. Hours of operation:

Opened in January 1999, the Regal Airport Hotel is connected to the airport via a passageway. Once fully completed by the end of 1999, it will be the largest hotel in Hong Kong with 1,100 guest rooms. It has a full-service business centre and furnished offices for rent, as well as secretarial, translation and interpretation services. It is also equipped with telephone, facsimile, data-line and video-link services for teleconference and audio-visual conference. The hotel's passenger lounge has check-in facilities. Tel: 2286-8888; fax: 2286-8686.

TRANSPORT LINK

Ground Transportation Centre

This is the hub for all surface transport to and from downtown. The centre is linked to the terminal via enclosed bridges. Platforms for the Airport Express train are located here. Stations for public buses are located at the southern end of the centre; taxi stands are located at the northern end of the centre; limousine services to hotels are located between the two.

Airport railway

The Airport Express train covers the 32km between the airport and Central district in about 23 minutes. Customer Service Centres for the Airport Express can be found in the Arrivals Hall and the Ground Transportation Centre. Tickets can be obtained from these centres and from automatic ticketing machines installed in the Buffer Hall and in the Arrivals Hall.

Airport Express operate from 6am to 1am daily, with trains leaving the Ground transportation Centre for Kowloon and Hong Kong every eight minutes. One-way adult fare is HK$60 for Kowloon Station and HK$70 for Hong Kong Station. For enquiries, call MTR's hotline: 2881-8888.

MTR also provides free Airport Express Hotel Shuttle Service to Airport Express passengers. There are four circular routes between 17 hotels and the Hong Kong and Kowloon stations. Services are provided daily from 6am-1am, at 15-minute intervals. (See transport map after page 128 for details.)

Taxis
Taxis travelling all over Hong Kong are readily available. The taxi staging comprises four ranks with six bays each for passenger pick-up. Red taxis serve Hong Kong Island and Kowloon, green taxis serve the New Territories, while blue taxis serve Lantau Island, where the airport is located. (See transport map after page 128 for estimated fares and distances to major areas in Hong Kong.)

Airbuses
Airbuses are dedicated to departing and arriving airline passengers. They have fewer stops, stop at all major hotels, are air-conditioned and provide luggage space to passengers. Tickets can be purchased at the Customer Service counter in the Arrivals Hall, or exact change can be dropped into the fare-collection coin box on board. Call Citybus (2873-0818) or KMB (2745-4466) for enquiries. (See transport map after page 128 for Airbus routes and fares.)

Airport-hotel transportation service
Hotel limousine pick-up service, private or shared, is provided by major hotels for set fees. If you have a hotel booking which includes airport transfer, identify yourself at the Hotel Reservation Centre inside the Buffer Hall after Customs. Or look for the Hong Kong Hotels Assn staff inside the Buffer Hall who will advise and direct you to the transportation of your choice.

SHOPPING & DINING
Hong Kong International Airport has one of the most exciting airport shopping malls in the world, with more than 140 outlets in Hong Kong SkyMart offering a range of quality retailing at downtown prices. There are five retail zones in the terminal.

Duty-free liquor and tobacco are available from 10 duty-free shops located at the restricted boarding level, with two pre-order shops on the non-restricted departure check-in level. Shops sell perfumes and cosmetics, designer labels, fine jewellery, pure gold, souvenirs, and other gifts and merchandise. Ten bookshops offer a wide selection of international magazines, books and newspapers.

Dining choices range from restaurants and pubs to self-service food courts and fast-food outlets. Asian and Western cuisine are well represented, with restaurants offering anything from Chinese dim sum to steak dinners.

DEPARTURE
Airport departure tax is HK$50 for those aged 12 and above. The tax can be collected at check-in counters by the airlines with the receipt attached to passengers' tickets. Payment is accepted only in Hong Kong currency.

Always allow sufficient time (about two hours) for immigration and customs clearance. In-town check-in services are available at airline counters at the Airport Express railway's Hong Kong and Kowloon stations (for Airport Express passengers only) - travellers leaving on the same day can check in their luggage early, leaving them free to attend to business in town.

AIRLINES

TRANSPORT LINKS

Hong Kong's efficient and low-cost public transport system includes three railways, taxis, trams, ferries, buses and minibuses. There are three vehicle-only tunnels under the harbour.

For long-staying visitors, a stored-value Octopus card may be convenient. It can be used to travel on the MTR, KCR, LRT, some cross-harbour and city buses, some ferries and the Airport Express. Purchase at MTR, KCR and LRT stations. Enquiries: 2993-8880.

Railways
The Mass Transit Railway (MTR) (tel: 2881-8888), which also operates the Airport Express, runs along the north side of Hong Kong Island and travels beneath the harbour linking Kowloon peninsula and Hong Kong Island.

There are four MTR lines (see transport map after page 128): the Island Line which runs between Sheung Wan and Chai Wan; the Tsuen Wan Line from Tsuen Wan to Central; the Kwun Tong Line from Quarry Bay to Yau Ma Tei; and the Tung Chung Line from Tung Chung to Central.

Trains run from 6am-1am every few minutes (two minutes during peak hours and 4-5 minutes during off-peak hours). Fares range from HK$4 to HK$26 for an adult single journey.

MTR has fare discounts for passengers using Octopus cards.

The Kowloon-Canton Railway (KCR) East Rail (tel: 2602-7799) commuter train runs from Hung Hom in Kowloon to the border with mainland China at Lo Wu. KCR also operates daily train services to Dongguan, Guangzhou, Foshan and Zhaoqing, on the mainland. Trains to Shanghai and Beijing operate on alternate days. To travel to Lo Wu station and into Shenzhen, across the border, you need a visa and a special ticket. Visas and special tickets are also required for through trains to the other mainland destinations.

KCR trains between Hung Hom and Sheung Shui (the stop before Lo Wu) run every 3-10 minutes from 5.35am to 12.25am. Adult fares are HK$3.50-9 for local journeys, and HK$25.50-33 for journeys to Lo Wu.

Tickets for the Intercity Through Trains services to the mainland can be purchased at some KCR stations, appointed ticket agents or by telephone. Tele-ticketing and enquiry hotline for through train services: 2947-7888; fax hotline: 2690-3705.

The Light Rail Transit (LRT) system (tel: 2468-7788), which is operated by the Kowloon-Canton Railway Corpn, connects the towns of Tuen Mun and Yuen Long in the northwestern part of the New Territories. The LRT runs from 5:40am-12:30am daily. Adult fares range from HK$4 to HK$5.80.

Routes of MTR, KCR and LRT lines are shown on the transport map after page 128.

Taxis
There are three different-coloured taxis: red on Hong Kong Island and Kowloon; green in the New Territories; and blue on Lantau Island. All taxis go to the airport at Chek Lap Kok.

Taxi fares are charged by metered tariff. Flagfall and charges are displayed inside the taxis. Flagfall for urban taxis is HK$15 for the first two kilometres. There is an extra charge for each piece of luggage, which is also signposted in the taxi.

When crossing the harbour by any cross-harbour tunnel, the two-way tunnel toll is added to the fare unless the taxi is on the return leg of its journey to either Kowloon or Hong Kong Island. In this case, only a one-way tunnel toll will be added. With other tunnels, only the one-way toll is added.

Tipping is usually confined to small change. Many taxi drivers speak some English, but it is best to have your destination written down in Chinese characters. Also, many urban taxi drivers are often more familiar with the streets of either Hong Kong Island or Kowloon, the area in which they spend most of their time. A Kowloon taxi driver who has just crossed the harbour, for example, may be reluctant to pick up a subsequent fare on Hong Kong Island unless the passenger wants to go to the Kowloon side.

Streets marked with yellow lines are off-limits for pick-ups and drop-offs, so it is best to flag a taxi at marked taxi zones and queues. To radio a taxi, call: 2574-7311/2527-6324 (Hong Kong Island); 2760-0411/2670-0477 (Kowloon); and 2457-2266/2697-4333 (New Territories). A HK$5 surcharge will be added to the fare.

Receipts for taxi fares are available upon request. For lost property, call the Taxi Union Loss Report Service on 2385-8288. There is a service charge.

Trams
Trams ply the northern shore of Hong Kong Island at a fixed fare of HK$2 (adult) from 6am to 1am. Exact fare is required, paid when leaving the tram. For enquiries, call the Hong Kong Tramways Ltd on 2559-8918.

There is also the century-old Peak Tram, a funicular railway that runs from Central up to the Peak from 7am to midnight at about 15-minute intervals. One-way fare is HK$18 (adult); return fare is HK$28. A free shuttle bus runs from the Star Ferry Terminal in Central to the tram's lower terminus every 20 minutes from 10am-8pm Monday to Saturday, and from 10am-9pm Sundays and public holidays. Enquiries: 2522-0922.

Ferries
The Star Ferry Co (tel: 2366-2576) operates a cross-harbour ferry service between Hong Kong Island and Kowloon. Ferries between Central and Tsim Sha Tsui run every few minutes from 6.30am to 11.30pm (HK$2.20 for upper deck or HK$1.70 for lower deck).

Other Star Ferry boats connect Central with Hung Hom (7am-7.20pm) and Wan Chai with Tsim Sha Tsui (7.30am-11pm). Both routes cost HK$5. The Wan Chai Ferry Pier is within a few minutes' walk of the Hong Kong Trade Development Council offices and the Hong Kong Convention and Exhibition Centre.

The Hongkong & Yaumati Ferry Co (tel: 2542-3081) operates a network of cross-harbour and inter-island services, including regular and fast ferries to Lantau and Cheung Chau islands. Fares are HK$10-20 from Monday to Saturday and HK$15-30 on Sundays and public holidays. The company also operates jetcats to Macau and Shekou on the mainland.

The Hong Kong & Kowloon Ferry Ltd (tel: 2815-6063) operates regular and fast ferry services to Lamma Island (HK$10-20). The company also runs catamarans between Central and Tsuen Wan (HK$12).

Shun Tak Ferries Ltd (tel: 2859-3333) operates flying cats to Tuen Mun (HK$25) in the New Territories and to Tai O on Lantau Island (HK$36).

The Outlying Island Ferry Terminals are located in Central, a few minutes' walk from the Airport Express Hong Kong Station and Star Ferry Pier.

Discovery Bay on Lantau Island is a well-developed residential area which boasts a 27-hole golf course. High-speed ferries (HK$25) leave from the Star Ferry Pier in Central and take 25 minutes.

Buses
Double-decker buses and regular buses have their final destinations marked in English and Chinese on the front top panel, and maps of bus routes are signposted at some bus stops. Most buses run from 6am-midnight, and fares range from HK$1.20 to HK$45. Exact fare is required, though most buses accept Octopus cards. Drivers generally do not speak much English.

New World First Bus (tel: 2136-8888) and Citybus (tel: 2873-0818) operate on Hong Kong Island, Kowloon and the New Territories; and Kowloon Motor Bus (KMB) (tel: 2745-4466) operates in Kowloon. Major bus route maps are available from the Hong Kong Tourist Assn (HKTA). Information about a particular route can be obtained from the individual bus companies' hotlines so long as you know the bus number. Otherwise, it is best to call HKTA's multilingual hotline at 2508-1234.

Minibuses/Maxicabs
These 16-passenger, air-conditioned cream-coloured vans are differentiated by red or green stripes. Drivers of both tend to speak little English. Maxicabs (green stripes) travel specific routes. A sign on the front shows the destination with fixed fares. The exact fare must be paid when you board the maxicab. Fares range from HK$1.50 to HK$18.

Minibuses look similar but have a red stripe. Routes are not always fixed, and passengers may alight or disembark anywhere (except in restricted zones) by alerting the driver beforehand. Fares range from HK$2 to HK$20, and you pay as you get off. Minibus drivers can give small change.

Hiring cars and drivers
Chauffeur-driven cars are widely available, and can be hired by the hour or by the day from some car agencies. Hotels also provide hired car services for their guests. Rental cars are available from reputable car agencies. Visitors with a valid overseas driver's licence can drive here for up to 12 months without applying for a Hong Kong licence. A list of reputable car agencies can be obtained from the Hong Kong Tourist Assn.

TELEPHONES

Local telephone calls are free of charge on both residential and business lines. With public call boxes, a charge of HK$1 applies for each call of up to five minutes. Many public telephones are operated with stored-value phone cards. There are also credit card public phones.

Emergency services (police, fire, ambulance and medical services) can be reached free of charge from public phones (tel: 999). Free local telephone services include local directory enquiries (1081), time and temperature enquiries (18501), and international call enquiries (10013).

Nearly all hotels offer IDD services, including conference call and simultaneous interpreter services. Visitors can also use stored-value cards to make calls from any tone-dialling telephone in Hong Kong. These are offered by Hongkong Telecom as well as the other three fixed-lined service providers - New T&T, New World Telecom and Hutchison Telecom. Cards are available at the phone companies' own retail outlets, as well as shops and convenience stores.

Mobile phones can be rented from most hotels' business centres. Visitors can also plug into most of the SAR's mobile phone networks by using pre-paid SIM cards, available from network retail outlets as well as shops and convenience stores. Hongkong Telecom prepaid SIM cards can be bought immediately on arrival at Hongkong Telecom shops in the airport. Across Hong Kong there are more than 1,000 points of sale for the card and recharge vouchers.

NEWSPAPERS

The 743 locally published newspapers and magazines cover everything from business to gossip. The Hong Kong press includes 30 Chinese-language dailies, 10 English-language dailies, one bilingual daily, and four in other languages. The South China Morning Post and the Hong Kong Standard are the two main local English-language dailies. Daily newspapers from the world's capital cities are readily available, particularly in the Central business district.

About 150 international media organisations have offices in Hong Kong, which is also the base for a number of regional publications such as Asiaweek and the Far Eastern Economic Review. The Asian Wall Street Journal and the International Herald Tribune are also printed here.

TELEVISION & RADIO

There are two Chinese- and two English-language terrestrial television channels in Hong Kong. Cable and satellite television are also available in most areas. A video-on-demand service was launched in 1998, offering viewers a choice of interactive multimedia services in addition to the existing television channels.

There are 13 radio channels, including six broadcasting in Cantonese, four in English, one in Mandarin and two bilingual.

INTERNET

Web surfing is now one of the major pastimes in Hong Kong, which has 126 Internet service providers. More than half of all Hong Kong households have a PC and 25% of homes subscribe to an Internet account. The main user groups are professionals, managers, executives and businesspeople (which together have a usage rate of 44%) and students (34%).

The Hong Kong Government home page (http://www.info.gov.hk) provides a comprehensive range of information on Hong Kong. All bureaux and departments have their own home pages on the Internet. The Hong Kong Trade Development Council's home page (http://www.tdc.org.hk) is another useful business and trade information site.

Catching up on e-mail or accessing the Internet is easy. All hotel business centres are wired and more and more hotels are making Internet access a standard feature in rooms.

POSTAL SERVICES

Hong Kong has efficient postal services. Hongkong Post provides two deliveries of letter mail each weekday to commercial and industrial areas and one delivery to residential areas. Parcels are delivered to all addresses in Hong Kong.

Full details of postal services can be found in the Postage Rates and Services leaflet obtainable at any post office. The General Post Office is in the Central district (2 Connaught Place), near the Star Ferry Pier. Enquiries: 2921-2222. Most post offices are open from 9.30am to 5pm from Monday to Friday, and from 9.30am to 1pm on Saturdays.

COURIER SERVICES

Although there are more than 80 local and international courier companies, the courier industry is dominated by a few multinational players like DHL and Federal Express.

The General Post Office's Speedpost has an extensive network covering 82 countries and territories, including all Hong Kong's major trading partners. For enquiries, call:

Mainland Connection

TRANSPORT

Air
There are regularly scheduled flights from Hong Kong to cities throughout the mainland. Dragonair Hong Kong Airlines, Hong Kong's regional airline, flies to 15 mainland cities. It operates daily flights to Beijing (2-3 flights per day), Shanghai (four flights per day), Guilin, Haikou and Hangzhou. Dragonair reservations: 2590-1188.

Other major carriers operating to mainland destinations include Air China, China Southern and China Eastern Airlines.

Rail
The Kowloon-Canton Railway (KCR) is the fastest and most convenient way of travelling from Hong Kong to the mainland without flying. Passengers board trains at Hung Hom Station, located in Kowloon a short distance from Victoria Harbour. KCR operates daily Intercity Through Trains to Guangzhou, Dongguan, Foshan and Zhaoqing. It also operates trains to Shanghai and Beijing on alternate days.

Four trains leave for Guangzhou each day (8.50am, 12:05pm, 1:23pm and 4:08pm) from Hung Hom Station. The first two trains stop in Dongguan, taking about two hours to reach Guangzhou. The other two trains travel non-stop to Guangzhou in 102 minutes for the Ktt train, and about 95 minutes for the Xinshisu train. Adult fares are HK$190-230.

Tickets for the Intercity Through Trains services can be purchased at some KCR stations, appointed ticket agents or by telephone. Tele-ticketing and enquiry hotline for the daily through train services: 2947-7888; fax hotline: 2690-3705.

Shenzhen is also accessible by travelling on the KCR to Lo Wu and crossing the border on foot. Contact KCR (tel: 2602-7799).

Ferries
Seven ferry companies operate a fleet of jetfoils, hovercraft and catamarans on 25 routes to the mainland and Macau. Destinations include many towns and cities in the Pearl River Delta in Guangdong Province and coastal ports in southern China such as Xiamen.

The Hongkong & Yaumati Ferry Co Ltd (HYF) operates hoverferries four times daily to Shekou in Shenzhen. The fare is HK$103 and the trip takes one hour. (HYF enquiry: 2542-3081). Ferry tickets to many southern China destinations can be purchased at the China Ferry Terminal (tickets to Macau can also be purchased at the Hong Kong-Macau Ferry Terminal) or through the China Travel Service (enquiry hotline: 2851-1700).

Bus
Citybus runs regular services to Guangzhou, Dongguan, Shenzhen, Shenzhen Airport and Zhang Mu Tou. Four buses leave daily for Guangzhou. The journey takes 3-1/2 hours and the adult fare is HK$80.

Guangzhou-bound buses depart from Admiralty on Hong Kong Island (7.10am, 7.55am, 8.40am, 9.25 am), picking up passengers also from China Hong Kong City in Tsim Sha Tsui (7.30am, 8.15am, 9am, 9.45am).

Buses leave eight times daily to Dongguan from China Hong Kong City (departing between 7.30am and 2.10pm) with additional pick-up points. Fare is HK$120 and the journey takes 2-1/2 hours.

There are also five buses leaving daily for Shenzhen from China Hong Kong City (departing between 7am and 1pm) with additional pick-up points. The fare is HK$60-85 and the journey takes 1-1/2 hours.

Citybus also leaves seven times daily for Shenzhen Airport from China Hong Kong City (departing between 7.30am and 4pm) with additional pick-up points. The journey takes two hours and fare is HK$120. Contact Citybus (tel: 2736-3888).

Hired car
It is possible to hire a car or limousine and driver to travel to cities in southern Guangdong Province. Prices vary considerably, depending on the length of the trip and size of the car.

VISAS

All travellers to the mainland, except Hong Kong Chinese residents, must have visas. Mainland China issues single-entry (valid for three months), double-entry and multiple-entry (three-month, six-month or one-year unlimited entry) visas, the latter designed for frequent travellers who have long-term business establishments, such as joint ventures, on the mainland.

Visas obtained from the Visa Office of the Ministry of Foreign Affairs of the PRC cost HK$100 for single entry (normally issued on the following day), HK$250 for single entry (express one-hour service), HK$150 for double entry, HK$200 for multiple entry (valid for three months), HK$400 for multiple entry (valid for six months), and HK$600 for multiple entry (valid for one year). Some nationals may need to pay more for their visas. If applying for a business visa, a letter of invitation from a business host is required.

Single-entry visas obtained from the China Travel Service cost HK$160-380, with delivery ranging from three working days to a half-day express service. Most travellers, with the exception of people travelling on British passports, can also obtain visas at the entry to China's Special Economic Zones (SEZs), for travel within the SEZs only.

Visas can be obtained from:

• Visa Office of the Ministry of Foreign Affairs of the PRC
  5/F, Lower Block, China Resources Building
  26 Harbour Rd, Wan Chai
  Tel: 2827-1881
  Monday to Friday: 9.30am-12.20pm and 2pm-5.30pm;

• China Travel Service, at various locations (tel: 2853-3888);

• and selected travel agencies specialising in mainland China travel.

Trade And Investment

MAINLAND China is Hong Kong's single biggest trading partner, with imports and total exports (including re-exports) totalling HK$1.04 trillion (US$134.98bn) in 1998, according to the Hong Kong Census & Statistics Dept. The US is second, with trade totalling HK$421.2bn and Japan at HK$244.1bn, although the EU, as a group of countries, accounts for HK$363.6bn of total trade.

Hong Kong is also the mainland's biggest source of foreign direct investment. By end-July 1998, 174,880 out of 314,533 foreign-funded projects on the mainland were tied to Hong Kong investors. Contracted and utilised capital inflows from Hong Kong were US$289bn and US$135bn, respectively.

Hong Kong's trade and service statistics are prepared by the Government's Census & Statistics Dept. Printed copies are available at the Government Publications Centre, G/F, Low Block, Queensway Government Offices, 66 Queensway, Hong Kong. Tel: 2537-1910/1914; fax: 2523-7195. For overseas mail-order services, please contact: Publications Sales Office, Room 402, Murray Bldg, Garden Rd, Hong Kong. Tel: 2842-8844/8845; fax: 2598-7482. Or access the department's Web page (http://www.info.gov.hk/censtatd).

Investment in Hong Kong
Companies around the world invest in Hong Kong. It has Asia's second-largest and the world's 11th-largest stock market; it is the eighth-largest banking centre in the world in terms of external banking transactions; and is the seventh-largest foreign exchange market in terms of turnover.

Hong Kong remains the region's leading co-ordination centre for multinationals, with 819 foreign multinationals basing their regional headquarters in the SAR as of mid-1998. The mainland is also one of Hong Kong's leading investors. According to official Chinese government estimates, there were more than 1,856 mainland-backed enterprises registered in Hong Kong by December 1996, with an estimated gross asset value of US$185bn.

For overseas investors in the manufacturing sectors, the Industry Dept operates a One-Stop Unit staffed by specialist officers with industrial backgrounds. Contact: Industry Dept, 14/F Ocean Centre, 5 Canton Rd, Kowloon, Hong Kong. Tel: 2737-2434; fax: 2730-8712; e-mail: industry@id.gcn.gov.hk.

There are no regulations concerning the minimum capital requirement of a company, except for full-service banks, insurance companies and trust companies, nor any regulations concerning the relative degree of local/overseas participation in the ownership or capital structure of the company. Joint ventures with local businesses are welcome, but a company may be kept entirely in the hands of overseas owners or shareholders. There are no regulations concerning the relative proportion of local to overseas staff.

As Hong Kong is a free-money market, funds from profits or capital accounts may be transferred at will.

Setting up business
All information regarding establishing a company in Hong Kong can be obtained from the Registrar of Companies, Companies Registry, 15/F Queensway Government Offices, 66 Queensway, Hong Kong. Tel: 2867-4570; fax: 2869-6817; e-mail: crenq@cr.gcn.gov.hk.

All businesses, whether limited liability companies, sole proprietorships or partnerships, must register with the Business Registration Office, Inland Revenue Department, 4/F Revenue Tower, 5 Gloucester Rd, Wan Chai, Hong Kong. Tel: 187-8088; e-mail: taxinfo@ird.gcn.gov.hk. The fee for registering a new company is HK$2,250, and must be renewed annually.

Solicitors and accountants can provide incorporation and registration services, as well as acting as the registered office. Many international accounting firms are located in the SAR. It costs upwards of HK$10,000 to set up a limited company.

To obtain information, assistance or advice on matters relating to trade, contact the Trade Dept, 700 Nathan Rd, Mong Kok, Kowloon. Tel: 2398-5595 or Interactive Hotline 2392-2922; fax: 2789-2491.

Taxation
There is no total income concept in Hong Kong. Tax is computed on income arising in, or derived from, Hong Kong under the following headings:

• Profits tax - 16% in respect of income sourced in Hong Kong through trade, profession or business. Unincorporated businesses are taxed at a rate of 15%, whether wholly or foreign-owned or controlled. Tel: 187-8088.
• Salaries tax - Maximum rate of 15% on income earned in Hong Kong from employment. Tel: 187-8088.
• Property tax - standard rate of 15% on rental income from land and buildings in Hong Kong. Tel: 187-8088.

  An individual whose visits in Hong Kong total no more than 60 days in any year of assessment is not subject to tax. Corporations carrying out business in Hong Kong do not have to pay profits tax on income that has a non-Hong Kong source. Contact the Inland Revenue Dept, Revenue Tower, 5 Gloucester Rd, Wan Chai, Hong Kong. Tel: 187-8088; fax: 2519-6714.

Duties & licensing
There is no customs tariff in Hong Kong and goods imported or exported require minimal customs formalities. Excise duties are levied only on tobacco, liquor, methyl alcohol and hydrocarbon oil, whether imported or locally manufactured.

Import and export licences (quotas), and Certificates of Origin are only required to enable Hong Kong to fulfil its international obligations and for health, safety or security reasons. Goods considered dangerous to public health or safety may require a special permit. Detailed information regarding licensing arrangements can be obtained from the Trade Licensing Section of the Trade Dept, 700 Nathan Rd, Mong Kok, Kowloon. Tel: 2392-2922 for all textile and non-textile enquiries; fax: 2789-2491.

Patents, trademarks & copyrights
For information on intellectual property rights in Hong Kong, contact the Intellectual Property Dept, 24/F Wu Chung House, 213 Queen's Rd East, Wan Chai, Hong Kong. Tel: 2803-5860 (hotline) or e-mail: hkgipd@hk.super.net. The Customs and Excise Department is the sole agency for enforcement of the copyright ordinance concerning the manufacture and distribution of unauthorised copies of literary, dramatic and musical works, and computer software. Customs & Excise Dept, 8/F Harbour Bldg, 38 Pier Rd, Central, Hong Kong. Hotline tel: 2815-7711; fax: 2542-3334.

FINANCE

Money

There is no foreign exchange control in Hong Kong and the Hong Kong dollar is freely convertible. In Hong Kong any currency, including mainland China's renminbi (Rmb), may be bought and sold on the open market.

Visitors can exchange foreign currency at any bank or exchange shop or at the cashier counters of hotels. Daily exchange rates are available through any bank, but the Hong Kong dollar is pegged at HK$7.8 to US$1 with minimal variations.

The government issues coins in denominations of 10c, 20c, 50c, HK$1, HK$2, HK$5 and HK$10. There are also notes in denominations of HK$10, HK$20, HK$50, HK$100, HK$500 and HK$1,000.

The Banking System

Hong Kong is one of the world's leading international banking centres. As of 30 April 1999, there were 136 foreign banks and 31 local banks.

Hong Kong maintains a three-tier system of deposit-taking institutions - licensed banks, restricted licensed banks and deposit-taking companies. They are collectively known as authorised institutions (AIs) under the Banking Ordinance.

Only licensed banks may operate current and savings accounts, and accept deposits of any size and maturity. Restricted licensed banks are principally engaged in merchant banking and capital market activities. They may take deposits of any maturity of HK$500,000 (US$64,103) and above.

Deposit-taking companies are mostly owned by or otherwise associated with banks and engaged in a range of specialised activities, including consumer finance and securities business. These companies may take deposits of HK$100,000 (US$12,821) or above with an original term to maturity of at least three months.

The Hong Kong Monetary Authority (HKMA) assumes most of the central banking functions in Hong Kong, with the exception of issue of bank notes. Bank notes are issued by the Hongkong and Shanghai Banking Corpn Ltd, the Standard Chartered Bank and the Bank of China. The Hong Kong Association of Banks sets the maximum rates of interest payable on deposits of original maturities of less than seven days.

Banks in Hong Kong are very much geared to serving business, with foreign currency accounts, savings and current accounts, letters of credit, over drafts and loans all easy to open and manage.

Money can be quickly and easily transferred both within Hong Kong and overseas.

Hong Kong follows the British system whereby cheques may be cashed by the bearer unless the words "or bearer" are crossed out and unless two parallel lines are drawn on the face of the cheque, in which case they can only be deposited into the named account.

Local cheques generally clear overnight. Foreign cheque clearing times depend on your relationship with your banker: sometimes banks will buy a foreign currency cheque immediately, other times overseas cheques take three weeks to clear.

Many banks now charge a small fee for depositing foreign currency cheques into a foreign currency account.

The larger banks, both local and foreign, have China and Hong Kong research departments set up to help business people. Additionally, the banks are good sources of credit information on potential business partners.

Banks

The Legal System

Hong Kong law is based on English Common Law but has its own ordinances and case law. The official languages of the law are English and Chinese, with all ordinances now being translated into Chinese. The official languages of the courts are English and Chinese, with Chinese being used in certain circumstances.

Hong Kong follows the British practice of splitting the profession between solicitors, who deal with the client, and barristers, who argue in court. Some solicitors appear as advocates in the lower courts, and the issue of solicitors' rights of audience in the higher courts is currently under review by the Government.

In addition to local law firms practising Hong Kong law, the SAR has a large contingent of registered foreign lawyers, many of whom practice in the Hong Kong branch offices of US law firms, which are registered as foreign law firms in Hong Kong. (See list of registered foreign law firms.)

The Law Society of Hong Kong will refer clients to individual firms. Contact 3/F Wing On House, 71 Des Voeux Road Central, Hong Kong. Tel: 2846-0500; Fax: 2845-0387.

Foreign Law Firms In Hong Kong

The Accountancy System

The Hong Kong Companies Ordinance requires registered companies to keep proper books of account.

The Hong Kong Society of Accountants (HKSA) issues accounting and auditing standards and registers and regulates professional accountants. The professional standards issued by the HKSA have historically been based on the UK system, but in recent years the HKSA has developed new pronouncements based on international standards.

The accounting community in Hong Kong includes many big international firms and numerous local experts. Many accounting firms also specialise in providing advice on doing business in mainland China, a crucial consideration for many establishments in Hong Kong.

Lists of professional accountants and accounting firms can be found at the Hong Kong Society of Accountants, 4/F Tower 2, Lippo Centre, 89 Queensway, Hong Kong. Tel: 2529-9271; Fax: 2865-6603.

BUSINESS SUPPORT

Business Centres

LOOKING FOR BUSINESS INFORMATION

WITH Hong Kong's vast number of companies covering just about every manufacturing and service industry imaginable, trying to find a supplier or contact can seem a little daunting. A closer look, however, reveals a well-developed information network which is both far-reaching and comprehensive. Made up of local trade associations, government agencies, chambers of commerce and foreign trade commissions, the network can provide information on almost anything you need to successfully complete your business.

This information can be accessed in a number of ways. Hong Kong is increasingly on the net, and many Web sites offer not only useful contacts and information, but practical links to make your search a lot faster. The Hong Kong Trade Development Council or TDC (www.tdc.org.hk), the Hong Kong Productivity Council (www.hkpc.org) and the Federation of Hong Kong Industries (www.fhki.org.hk) all offer user-friendly sites detailing their functions and services, as well as links for further information on doing business in Hong Kong.

The Hong Kong General Chamber of Commerce has more than 4,000 corporate members comprising multinationals, local companies and those from the mainland. It covers the entire scope of trade, services and industry in Hong Kong and welcomes trade enquiries for supply of products and services via its Web site (www.hkgcc.org.hk). The Hong Kong Coalition of Service Industries represents the service sector, from banking to shipping, and from tourism to law. It undertakes a wide range of activities to promote the services sector both locally and overseas.

Governments from all over the world have trade representatives of varying sizes. The high profile American Chamber of Commerce maintains a very useful Web site (www.amcham.org.hk). It also publishes a range of how-to books on setting up and doing business in Hong Kong, as well as the monthly AmCham magazine. The Canadian Chamber of Commerce and Australian Chamber of Commerce also have substantial membership and are very active in promoting business.

Europe is well represented by trade commissions which organise many different activities promoting business with Hong Kong, and can provide all kinds of essential information. Alternatively, the Office of the European Commission in Hong Kong facilitates contacts between business communities in Hong Kong and in the EU. It maintains a Web site (www.ust.hk/~webeu), and for specific enquiries, the office recommends faxing them first with your enquiries.

Another useful source of information is the HKSAR Government Information Centre (www.info.gov.hk). Again the Web site is very comprehensive, with an effective search engine giving you access to every government department, from the Business and Services Promotion Unit to the Hong Kong Tourist Assn.

MAJOR LOCAL TRADE ASSOCIATIONS

General

Apparel & Textiles

Chemical, Pharmaceutical & Petroleum Products

Electronics, Electrical Apparatus & Appliances

Footwear

Furniture & Fixtures

Jewellery

Leather Hides & Leather Products

Optical Goods & Photographic Equipment

Plastic Products

Toys

Watches & Clocks

Others

INTERNATIONAL TRADE ASSOCIATIONS

CONSULATES & OFFICIALLY RECOGNISED REPRESENTATIVES

Hong Kong Island

Kowloon

New Territories/Outlying Islands

HOSTELS & GUESTHOUSES

Venues

Most hotels have conference and meeting facilities (see Hotels section for listing). Some business centres also have conference facilities (see Business Support section).

Hong Kong Subscription Form

Overseas Buyers Request Form

More Publications

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