Our last major venue in China was Hong Kong. I had heard a lot about this city as a great place to buy electronics. The shopping district in Kowloon did not disappoint. The first thing I noticed was that a different dialect of Chinese (Cantonese) is spoken in Hong Kong versus the balance of China (Mandarin). That got me wondering about the history of this city. Embarrassingly, I knew very little.
1841 – China cedes Hong Kong Island to Britain in perpetuity.
1860 – China cedes the tip of Kowloon Peninsula and Stonecutters Island to Britain.
1898 – China leases the New Territories to Britain for 99 years.
1937 – Japan invades China.
1941 – British surrender and Japan occupies Hong Kong.
1946 – The British Governor returns.
1984 – Sino-British Joint Declaration establishes one country, two systems governance model.
1997 – Lease expires and China takes over.
I was surprised at how much of a positive emotional impact the Flying Tigers defense of China has had on local citizens. China is a country that remembers and it struck me that WWII continues to provide a shared experience that can be leveraged as a basis for strengthened collaboration if desired. This was a piece of our nation’s history I was woefully under informed about and would suggest any economic development professional interested in capital attraction from China become familiar with.
Hong Kong Disneyland is an amazing Ambassador for the U.S. I found a new appreciation for the role of business in representing America’s culture. For many Chinese a visit to Disneyland greatly influences their perception of our nation. Similarly, companies like McDonalds, Burger King, and Pizza Hut with high brand visibility in virtually every major city in China also act as Brand America Ambassadors. I think it would be very interesting for a national organization like Select USA or BrandUSA to conduct research and determine the perception being created collectively by these iconic corporations.
Commerce in Hong Kong is impressive. Victoria Harbor is one of the world’s busiest. Roughly 400,000 ships visit the harbor annually. The 9 container terminals were doing a very brisk business. It has been reported that 400 container liners serve Hong Kong weekly. According to the Census and Statistics Department, Hong Kong has a GDP of roughly $466 (HK$ billion) and a per capita GDP of $268,213 (HK$). It has a labor force of nearly 4 million people and a population of about 7 million people. Based on a PricewaterhouseCoopers 2008 estimate indicates Hong Kong is ranked 16th globally based on GDP. And, Hong Kong is the world’s 3rd largest recipient of foreign direct investment. There is no question Hong Kong is a center of commerce, and a gateway to Asia.
Hong Kong people are stylish and very brand aware. This city felt the most western of all we visited in China. In many respects, the people experience in Hong Kong reminded me of my experience in Vancouver’s China Town and Toronto’s suburb of Scarborough. MP3 players, Chuck Taylor styled sneakers, blue jeans, and haute couture fashion was everywhere. Like every major metropolitan city in the world, the restaurants were outstanding.
The transportation infrastructure in Hong Kong is exceptionally impressive. There are plans to enhance it with the creation of a high-speed rail line that will connect Hong Kong with Guangzhou; and, to dramatically expand the size of the airport.
While I didn’t visit Macau, no assessment of Hong Kong can be complete without at least mentioning it. This is a district with a history back to the Qin Dynasty (221 – 206 BC). Now it is a major tourist destination with a gambling industry larger than Las Vegas. For perspective, Macu is reported to have had 25 million visitors in 2010. According to one report I found, roughly 50% of those visitors were from mainland China. I can only imagine how many visitors Macau will get when the high-speed rail line is complete. Like Las Vegas, Macau is a city that never sleeps
Images of Hong Kong
Here are a few pictures I took while in Hong Kong that I thought you might find interesting.
This is the last post on my China experience. My goal is to stimulate a discussion about China given the importance of this nation as both a collaborator with and competitor of Brand America. If you have knowledge of China, I am hoping you will share your perspective by writing a comment on at least one of the blog posts. The dialogue will serve as a great source for understanding the culture of the country and serve as a basis for better understanding the role China might play in our local economic development capital attraction or export plans. I am convinced China represents a source of growing importance for FDI inflow and the more we, as economic development professionals, understand this fascinating country, the better prepared we will be to take full advantage of the opportunity. Please take a moment and leave a comment.
Here are links to the other blog posts I authored about my China adventure –
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