University of Southern California

Forging New Links Between USC and Hong Kong
Marshall hosts Hong Kong Financial Secretary John C. Tsang
November 28, 2011 • by News at Marshall

Though separated by an ocean, Los Angeles and Hong Kong share a close bond: each serves as a center of business and innovation of the Pacific Rim. In an event hosted by the USC Marshall School of Business, Financial Secretary of Hong Kong, John C. Tsang spoke on the burgeoning opportunities created by this relationship.

“I hope to deepen the understanding between the Marshall School of Business and my home city of Hong Kong. This connectivity will become increasingly pronounced in the coming years—the best way to do that is to better understand the business world,” Tsang said.

Hong Kong currently serves as a base for more than 7,000 Mainland China and overseas companies, including some 800 U.S. firms. Hong Kong strives to maintain open business practices and attract foreign investment by its distinct edges, according to Tsang.

“As a city in China but outside the mainland, Hong Kong enjoys the best of both worlds,” said Tsang. “We have our own unique style of capitalism and the Hong Kong dollar which is pegged to the U.S. dollar.”

Hong Kong also follows the common law system, which is based on the English system and underpinned by an independent judiciary. “By aligning our rules and regulations to international standards and codes of best practice and maintaining a level playing field for business, Hong Kong has become the premier international gateway into and out of Mainland China. We are also a reliable and efficient platform to do business throughout Asia,” said Tsang.

A frequent topic of discussion was the opportunities for students seeking employment post-graduation. Tsang was optimistic and enthusiastic about the benefits of living and working in Hong Kong, citing low income tax and ease of conducting business. He did offer a word of caution for those seeking to engage in the world of global business.

“The world is changing so quickly what you are learning today you cannot do in 10 years time,” said Tsang. “You have to create a capacity in school learning to learn, you need to continue learning new things to continue adapting to the world we live in.”

About the USC Marshall School of Business
Consistently ranked among the nation's premier schools, USC Marshall is internationally recognized for its emphasis on entrepreneurship and innovation, social responsibility and path-breaking research. Located in the heart of Los Angeles, one of the world's leading business centers and the U.S. gateway to the Pacific Rim, Marshall offers its 5,700-plus undergraduate and graduate students a unique world view and impressive global experiential opportunities. With an alumni community spanning 123 countries, USC Marshall students join a worldwide community of thought leaders who are redefining the way business works.