Firms: Mainland vital for growth

OVER 60% of business executives attending a Business Week forum in Hong Kong on Tuesday said the Chinese mainland’s economy contributed greatly to their companies’ growth.  

Among over 200 regional business executives who gathered to discuss latest trends, opportunities and challenges, only 16% said the mainland factor acts as a small attribution to their future growth.  

“Asia is becoming a more internal-related economy,” said Donald Hanna, managing director of Asia Emerging Markets of Citigroup Global Markets.  

The survey also showed that executives attached more importance to the mainland factor than a US factor in their companies’ future growth.  

“Undoubtedly our next growth platform is in the mainland,” said Ronald Chan, executive director of Towngas. 

He said the company invested 30 joint ventures in the past 10 years in the mainland, and all were running smoothly.  

“To achieve further development, we have to move forward outside Hong Kong, and the best place is the mainland,” he said.  

His view was shared by Mark Clifford, publisher and editor-in-chief of The Standard, a newspaper based in Hong Kong.  

Clifford said the English paper would take full advantage of the tremendous economy growth of the Chinese mainland.  

Business leaders predicted that interest in strategic alliances, joint ventures, mergers and acquisitions would be renewed in the region. – People's Daily  

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