The 36th Hong Kong-Japan and Japan-Hong Kong Committees Plenary Meeting was held in Hong Kong on 24 March 2017 with focus on potential collaboration in financial technology and smart cities. 
(From left to right)Ms Margaret Fong, Executive Director, HKTDC; Mr Victor Cha, Chairman of Hong Kong Committee; Mr Bob Chong, Managing Director of Chungnam Corporation Limited and the Hon Jeffrey Lam, Managing Director of Forward Winsome Industries Ltd
More than 40 business leaders from Hong Kong and Japan took part in the 36th Hong Kong-Japan and Japan-Hong Kong Committees Plenary Meeting. They were joined by The Hon Matthew Cheung Kin-chung, Chief Secretary for Administration of the Hong Kong SAR for the Keynote Luncheon.
Front row, from left: Ms Iris Wong, Director, International and Mainland Relations of HKTDC; Ms Margaret Fong, Executive Director of HKTDC; Mr Victor Cha, Chairman of Hong Kong Committee; The Hon Matthew Cheung Kin-chung, Chief Secretary for Administration of the Hong Kong Special Administrative Region; Mr Katsunori Nagayasu, Chairman of Japan Committee; Ambassador Kuninori Matsuda, Consul-General, Consulate General of Japan in Hong Kong, Mr Daniel Shao, Managing Director of Van Yu Group of Companies and Mr Tadashi Fujita, Representative Director, Executive Vice President of Japan Airlines Co Ltd.
The Hon Matthew Cheung Kin-chung, Chief Secretary for Administration attended the Keynote Luncheon and delivered a speech.27 April 2017 – Innovation and globalisation were key topics at the 36th Plenary session of the Japan-Hong Kong and Hong Kong-Japan Business Co-operation Committees, held on 24 March.
More than 40 business leaders from Hong Kong and Japan attended the Plenary Session at the Hong Kong Convention and Exhibition Centre. The meeting was co-chaired by Victor Cha, Chairman of the Hong Kong-Japan Business Co-operation Committee and Deputy Chairman and Managing Director of HKR International Ltd; and Katsunori Nagayasu, Chairman of the Japan-Hong Kong Business Co-operation Committee, and Senior Advisor of the Bank of Tokyo-Mitsubishi UFJ, Ltd.
Hong Kong-Japan Collaboration
In his opening address, Mr Cha highlighted the strong links between the two economies, noting that more than 1,300 Japanese companies have set up in Hong Kong, overtaking United States’ in having the largest business presence in the city.
Members were briefed on the latest economic and trade developments in Hong Kong, Japan and the Chinese mainland. Several sessions explored ways that Japanese and Hong Kong companies can collaborate, including in the areas of financial technology (Fintech) and smart cities.
“FinTech is an area where both Japan and Hong Kong are in a position to lead the rest of the world,” said Mr Nagayasu. “There is potential for leadership of both Japan and Hong Kong in this area, and Japan has world’s leading-edge environment technology and energy-saving technology, and smart city initiatives that harness technology as well as ICT. There is a lot of potential for cooperation in a third country, for example in China as well as Southeast Asia, not only limited to Japan and Hong Kong alone,” he added.
Experts in the fields of Fintech and smart cities briefed members on the latest developments in those fast-growing sectors. Among them was Egidio Zarrella, Head of Clients and Innovation, KPMG in China, who discussed opportunities arising from the Fintech revolution. “The best place to do innovation now is in Fintech,” said Mr Zarrella. “China’s economic transformation is spurring the creation of new drivers of growth, new industries, new institutions, and new opportunities in the technology and innovation space.”
Patrick Leung, Technical Director of Aviation and Transport Team of AECOM Asia Co Ltd, highlighted potential for collaboration between Hong Kong and Japanese companies to develop smart cities. “Hong Kong is an early adopter of IoT technology in municipal management, transport and logistics, trade and e-commerce,” said Mr Leung. “To make Hong Kong smarter, the government has been actively pioneering innovative applications of IoT, big data, cloud and mobile technologies.”
Hong Kong Advantage
Soichi Nishimura, Chairman and Managing Director of Mitsui & Co (Hong Kong) Ltd, underscored Hong Kong’s advantages as the preferred financial platform for international business. Mr Nishimura cited the city’s potential to become a corporate treasury and debt-financing centre to support projects arising from China’s Belt and Road Initiative, noting that Asia alone will need about US$750 billion annually to cover infrastructure projects until 2020.
He also pointed out business potential arising from greater integration with neighbouring mainland economies with the near completion of the Hong Kong-Zhuhai-Macao Bridge.
The HKTDC serves as the secretariat for the Hong Kong-Japan Business Co-operation Committee, while Keidanren is the secretariat for the Japan-Hong Kong Business Co-operation Committee. The 37th Plenary Session of the two committees will take place next year in Japan.