STAND. COM. REP. NO.  392

Honolulu, Hawaii

                , 2015

RE:   H.B. No. 648

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2015

State of Hawaii

Sir:

     Your Committee on Economic Development & Business, to which was referred H.B. No. 648 entitled:

"A BILL FOR AN ACT RELATING TO ECONOMIC DEVELOPMENT,"

begs leave to report as follows:

The purpose of this measure is to further economic relations between China and Hawaii by establishing the China-Hawaii Economic Council and appropriating funds for the Council.

The Department of Business, Economic Development, and Tourism testified in support of the intent of this measure.

     As an island state in the middle of the Pacific Ocean, Hawaii often serves as the Asian gateway to the United States.  Hawaii's geographical proximity and past associations with its Asian neighbors create a unique opportunity to encourage stronger cultural and business connections between Hawaii and Asian countries.  Your Committee finds that establishing stronger relations with China through a China-Hawaii Economic Council would be an effective way to promote, support, and increase investment and trade with China, similar to what was realized through the establishment of a Japan-Hawaii Economic Council.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 648 and recommends that it be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,

____________________________

DEREK S.K. KAWAKAMI, Chair