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AmCham Raises Tax & Competitiveness Issues with High-level U.S. Officials PDF Print E-mail
Attn: News / Business Editors

AmCham Raises Tax & Competitiveness Issues

with High-level U.S. Officials


A delegation of seven senior AmCham executives has just completed a five-day schedule of 30 meetings with senior U.S. government officials, Members of Congress, Capitol Hill committee staffers, business organizations, and think tanks in Washington D.C. during the Chamber’s 2009 Doorknock advocacy trip.

The group met with Demetrios Marantis, the Deputy U.S. Trade Representative; Kurt Campbell, Assistant Secretary of State-designate for Asia & Pacific; Bud Philbrook, Deputy Under Secretary for Farm & Foreign Agriculture Services; and Michelle O'Neillm Acting Under Secretary of the International Trade Administration, Department of Commerce. The delegation had discussions as well with other Commerce, State, Agriculture, and Trade officials.

"I was impressed with the willingness of senior officials to take time to meet with us for in-depth conversations on our issues," says AmCham Chairman David Cunningham, the delegation's leader. "I believe we have helped keep Hong Kong on the map in Washington, and certainly we have given increased visibility to our member's business and economic concerns."

AmCham's priority issues in Washington focused on competitiveness and tax issues -- including concerns that the double taxation of Americans overseas was proving detrimental for U.S. competitiveness abroad, and worries that Hong Kong might be designated a "tax haven" by the U.S. Congress, an action that would have severe investment and related business repercussions.

Tax, competitiveness, and overall trade issues were raised in nearly every meeting, including those with senior staff in the Senate Finance Committee, the House Ways and Means Committee, the Senate and House Foreign Relations Committees, at the Congressional Research Service, and during Roundtables with scholars at the Brookings and Heritage Foundations.

On Capitol Hill, delegation members participated in a U.S.-China Business Council session with Congressmen Rick Larsen and Mark Kirk, who serve as co-chairs of the U.S.-China Working Group in the House of Representatives. They had just returned from an intensive China trip that included an AmCham Hong Kong business briefing.

The delegation, led by AmCham Chairman David Cunningham (FedEx Express), included Vice Chairman Michael Brown (JP Morgan Chase), Mark Michelson (APCO Worldwide), Hugh Stephens (Time Warner), Alan Turley (FedEx Express), Frank Lavin (Edelman Asia Pacific) and AmCham President Richard Vuylsteke.

The annual Doorknock is an essential part of AmCham’s continuing mission to advocate and seek action on important issues facing its members. The topics highlighted in Washington (see below) are part of continuing meetings held year-round in Hong Kong with local and visiting government officials.

v Arguing against the ‘Stop Tax Haven Abuse Act’, which lists Hong Kong as an offshore tax haven;

v Reducing the double-taxation burden on Americans living aboard (the Section 911 issue);

v Urging increased funding for the US Commercial and Agricultural Services in order to promote more US exports, which in turn creates jobs.

v Addressing the complications and implications of the new US consumer product safety reforms on businesses based in Hong Kong.

"Advocacy on behalf of our members is the backbone of our many activities and programs during the year," says AmCham President Richard Vuylsteke. "The annual Doorknock is a signature event that alerts our government interlocutors in Hong Kong and the United States about some of our most pressing issues."


For inquiries, please contact AmCham’s Public Affairs Manager, Mr. Mark Wong, on 2530-6917, or by email: This email address is being protected from spam bots, you need Javascript enabled to view it .


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2008 Business Outlook Survey: Results & Analysis PDF Print E-mail

Attn: News / Business Editors

January 16, 2009 – At a press conference today, the American Chamber of Commerce in Hong Kong released the results of the 2008 Business Outlook Survey, conducted by The Nielsen Company on behalf of AmCham, between November 27 and December 19, 2008.

AmCham Chairman Mr. David L. Cunningham and President Mr. Richard R. Vuylsteke was joined by Mr. Justin Garrett, Director of The Nielsen Company, in highlighting some of the key findings on Hong Kong and Mainland China’s economic and business environment outlook, and more importantly how the global financial crisis affected member companies’ operations and investment forecast for the near term future.

In the forecast for 2009, a significant majority (74%) of AmCham member companies expect to experience a sharp adverse effect on their businesses because of the global financial crisis.

“The current financial crisis far outweighs any of those previously hitting the territory. It’s clear we are heading into unchartered waters,” said Mr. Garrett. “As expected, the 2008 forecasts paint a rather bleak outlook – it appears this economic crisis is expected to hit harder than we have seen before,” he added.

In response to the current business environment, AmCham Chairman Cunningham encouraged the business community and the government to take advantage of Hong Kong’s unique gateway role.

“It is time that we change our mindsets and go beyond focusing on Hong Kong’s pillar industries. The results also show that the business forecast for Mainland China remains relatively strong and Hong Kong should seize those opportunities.”

“Looking ahead, strengthening the SAR’s gateway is becoming increasingly important and the Chamber looks forward to working with our members and the government in taking concrete steps to better link China with international markets,” said Mr. Cunningham.

For inquiries, please contact AmCham’s Public Affairs Manager, Mr Mark Wong, on 2530-6917, or by email: This email address is being protected from spam bots, you need Javascript enabled to view it .

The full report and the charts used at the press conference is available at:

http://www.amcham.org.hk/content/view/5216/501/

Photos taken at the press conference are available at:

http://www.amcham.org.hk/images/pressCenter/2008_BOS/for%20press%20bos%20press%20release.jpg


http://www.amcham.org.hk/images/pressCenter/2008_BOS/for%20bos%20press%20release%202.jpg



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AmCham Aims to Strengthen Hong Kong's Competitiveness PDF Print E-mail
ATTN: NEWS / BUSINESS EDITORS


January 9, 2009 - As Hong Kong faces the current economic challenges from the impact of the financial tsunami, the American Chamber of Commerce in Hong Kong is committed to enhancing the chamber’s position to better service its membership and to work closely with the government in strengthening the SAR’s overall competitiveness, as announced by AmCham’s new 2009 Chairman, Mr. David L. Cunningham, in his inaugural speech today.

Mr. Cunningham, President – Asia Pacific Division of FedEx Express, succeeds Mr. Steven J. DeKrey to lead the largest foreign chamber of commerce in Hong Kong.

In his speech, Mr Cunningham emphasized that maintaining Hong Kong’s competitiveness in the long run will require further improvements on all the key advantages the SAR holds.

“We must strengthen the fundamentals that have always made Hong Kong a great place to do business – a welcoming business environment, supported by an effective legal system, a low and simple tax structure, and its excellent geographical location,” said Mr. Cunningham.

This year, AmCham will continue building on its tradition of bringing effective change by taking positive action in the following key priority areas that will better service its members and enhance Hong Kong’s reputation as a world city:

  • Change people’s mindsets so that Hong Kong is seen not only as the world’s best gateway into China, but also as the very best gateway out of China for the nation’s increasingly sophisticated companies.

  • Address the challenges the SME sector faces and to ensure these businesses remain vibrant.

  • By increasing Hong Kong’s competitiveness by addressing cross-border trade issues that hinder the connectivity of markets within the region.

  • Strengthen Hong Kong’s ability to attract and retain the best talent by improving its education options, especially its English-language instruction and programs.

  • Continue to work with the government on the complex issues to improve the environment.

For inquiries, please contact AmCham’s Public Affairs Manager, Mr Mark Wong, on 2530-6917, or by email: This email address is being protected from spam bots, you need Javascript enabled to view it

Photos of AmCham’s Chairman David L. Cunningham and President Richard Vuylsteke taken at this afternoon’s press conference are available at:


http://www.amcham.org.hk/images/pressCenter/2009_Inaugural/2009inaugural_rv-dc.jpg

http://www.amcham.org.hk/images/pressCenter/2009_Inaugural/2009inaugural_dc.jpg



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Leading Women and Company Earn Women of Influence Awards PDF Print E-mail
Attn: News / Business Editors
For Immediate Release
 
October 28, 2008, Hong Kong – Three outstanding businesswomen and an exceptional company have earned the “Women of Influence” Awards in recognition of their career excellence and amazing achievements.
Organized by the American Chamber of Commerce in Hong Kong in association with the South China Morning Post, the awards seek to recognize and honor the accomplishments and success of these leaders in our community as they provide great inspiration for many other women to excel in their professions and for companies to support women in work life balance.
“We wanted to recognize individual initiative and also give younger women who are working a chance to see some really great role models. We wanted them to see that here are some women who have lived and are living big, widely successful lives and that they can live a big life too,” said Ms. Maura Fallon, who chairs the AmCham Women of Influence Committee.
At a formal awards ceremony today, the following outstanding women for the three award categories were announced:
Ms. Uhi MC Hui, Executive Director – Greater China of PR People Consultancy, a professional who is under 40 and has achieved inspirational business success, received the Young Achiever of the Year award;
Ms. Elizabeth L. Thomson, Founder and President of ICS Trust (Asia) Ltd., who demonstrated outstanding success in running her own business, received the Entrepreneur of the Year award;
Ms. Julia Charlton, Founder and Partner of Charltons, who has successfully become an influential and leading practitioner in her chosen professional field, received the Professional of the Year award.
“The caliber of entries was just incredible,” remarked Ms. Janet De Silva, Chief Executive of Retail China Limited and Chair of the AmCham judging committee for the WOI Awards. “We had exceptionally competent candidates across the board and the competition is so strong. Many of the judges remarked on how humbling it was to see how amazing these women are across so many aspects of their lives and how they were able to juggle so many things,” Ms. De Silva said.
The Best Company for Women Award went to Goldman Sachs, for having exhibited exceptional achievement in supporting the development of women in business and in providing innovative work life programs aimed at allowing women to pursue business careers and personal development.
This is the third year that AmCham has partnered with the South China Morning Post to identify and spotlight Hong Kong’s Women of Influence and is the fifth year since AmCham founded and spearheaded this much-anticipated annual event.
This year’s WOI Conference & Awards are generously sponsored by Morgan Stanley, Citi, ESGI, Tiffany & Co., Watson Wyatt Worldwide, FedEx and Marriott.
"We believe it is important to develop and recognize female role models," remarked Mr. Eddie Ahmed, Managing Director and Chief Administrative Officer, Asia for Morgan Stanley who also oversees the Firm's Talent Management Committee for the region. "This is why we find this program so attractive and have supported it since its inception. Through our support, we want to help showcase best practices for companies and help women make an even greater impact in their organizations and in their communities."
Nominations to the awards were received from July to September this year. More than 50 entries were submitted for the Awards.
A panel of twelve judges reviewed this year’s nominations; they include:
Judges for “Young Achiever of the Year”
1.           Ms. Christina Ellerker
Executive Director, Asia Securities Industry & Financial Markets Association Ltd.
2.           Ms. Michele Felder
Senior Director of Marketing, AP, Juniper Networks
3.           Ms. Anita Leung
Partner & AmCham Governor, Jones Day
 
Judges for “Entrepreneur of the Year”
4.           Ms. Jenny Bowen
Founder & Executive Director, Half the Sky Foundation
5.           Ms. Camille Tang
Chief Financial Officer, ConvenientPower Group
6.           Ms. Sabrina Fung
Executive  Director, LiFung Trinity Limited & AmCham WOI Committee Member
 
Judges for “Professional of the Year”
7.           Ms. Ingrun Alsleben
Chief Financial Officer, Bayer Group Companies in HK
8.           Ms. Sheng-Ching Ho
Managing Director and Chief Operations Officer, Asia Pacific Fixed Income Division, Morgan Stanley
9.           Ms. Jennifer Van Dale
Senior Counsel, Employment Law Group, Baker & McKenzie
 
Judges for “Best Company for Women”
10.        Mr. David L. Cunningham Jr.
President, AP, FedEx Express & Vice-chair of AmCham Board of Governors
11.        Ms. Miriam Lau, GBS, JP
Consultant, Arculli, Fong & Ng & Legislator
12.        Mr. Shengman Zhang
President, Asia Pacific, Citi Country Officer, Citi
 
Below are photos for download:
(Ms. Maura Fallon, the chair of AmCham Women of Influence Committee, gave opening remarks at today’s WOI conference)
(Winners of 2008 Women of Influence awards from the right: Ms. Uhi MC Hui, Young Achiever of the Year, Ms. Elizabeth L. Thomson, Entrepreneur of the Year, Ms. Julia Charlton, Professional of the Year, and Mr. Paul Bernard, Chairman of Diversity and Head of Asian Investment Research, Goldman Sachs, Best Company for Women)
 
Bio of winners for the three individual categories can be found at:
 
For inquiries, please contact Ms. Toni Lau, AmCham Press Affairs Manager, on 2530-6915 or This email address is being protected from spam bots, you need Javascript enabled to view it
 
About the Women of Influence Awards
Organized by the American Chamber of Commerce in Hong Kong in association with the South China Morning Post, the awards seek to recognize and honor the best that Hong Kong has produced and to provide inspiration to other women. Past winners of individual categories awards in 2007 and 2006 include Ms. Barbara Wong, Ms. Jenny Bowen, Ms. Miriam Lau, Ms. Jing Ulrich, Ms. Fredy Bush and Ms. Viveca Chan. More details about the past WOI Awards recipients can be found at: http://www.amcham.org.hk/content/view/5789/554/
All individuals connected with AmCham, South China Morning Post, Women of Influence Committee, as well as all sponsoring companies of the event and the employees of those companies, were not eligible for entry to the Awards.
About AmCham Hong Kong
AmCham Hong Kong is the largest and most active international business association in the Special Administrative Region, with about 2,000 members, representing almost 800 American, Hong Kong, Chinese and other international companies from over 40 nationalities. U.S. companies are Hong Kong's largest investors in insurance and second largest in financial institutions and the wholesale, retail and import/export trades. The SAR represents the regional headquarters for about 250 U.S. companies. For more information about AmCham Hong Kong, please visit www.amcham.org.hk
About The South China Morning Post
First published in 1903, The South China Morning Post is the flagship publication of the SCMP Group Limited, a leading newspaper and magazine publisher listed on The Stock Exchange of Hong Kong (SEHK: 583).  The paper has the city’s most affluent and influential readership.  Striving to maintain the highest standards among the world’s quality newspapers, the South China Morning Post receives constant international recognition.  It has won 32 awards in 2006 for excellence in editorial, marketing and technical capability. 
 
 
 
 
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