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Mainland enterprises were encouraged to leverage on the comparative advantages of Hong Kong and the Mainland to develop the international market for infrastructure projects at an Invest Hong Kong Forum on "Join Hands with Hong Kong in Going Global" held today (January 20).
Officiating at the Forum were Secretary for Commerce and Economic Development of the Hong Kong SAR Government, Mrs Rita Lau, and Vice Minister of Commerce of the People's Republic of China (PRC), Mr Chen Jian. In their welcome remarks to more than 250 participants from Hong Kong and Mainland enterprises, they highlighted the comparative advantages of HK offering a mature financial platform and efficient professional support service with an international perspective, while the Mainland corporations offer solid construction skills and cost advantages.
The forum was organised by Invest Hong Kong, in collaboration with the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce of the PRC, and the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People's Government in the HKSAR. Over 150 participants from Mainland corporations of various provinces have come to Hong Kong for the Forum. Other participants include companies in the construction related industry in Hong Kong and those in the professional services of banking, accounting and legal sectors.
In her opening remarks, Mrs Lau highlighted the importance of Hong Kong as a hub for outward investment, project outsourcing and labour cooperation for Mainland enterprises. She said, "Hong Kong has a solid financial infrastructure and rich international marketing experience, which allow the city to serve as an ideal platform for Mainland enterprises to 'Go Global'. This role will only grow in importance in the coming years. First of all, Hong Kong has an efficient financial market and free flow of information and capital that support the fund raising activities of Mainland enterprises for their expansion plans. Hong Kong is also a mature services economy that offers access to global talent with international perspectives and business networks, while also being familiar with the Mainland. This will help Mainland enterprises to enhance their corporate governance capabilities to meet international standards."
"Over the years, the many business advantages of Hong Kong have attracted a considerable number of overseas and Mainland enterprises to set up here. Many of these companies were set up with the assistance of Invest Hong Kong. Once here, Mainland enterprises can leverage on our advantages as a testing ground for them to gather market information and management expertise. At the same time, they can enrich their experience and enhance their competitiveness before launching their overseas expansion plans," Mrs Lau added.
A series of thematic discussions were held at today's Forum. Deputy Director-General of the Department of Outward Investment and Economic Cooperation of the Ministry of Commerce, Ms Liu Ying-jun; Associate Director-General of Investment Promotion at Invest Hong Kong, Miss Victoria Tang; and President of China International Contractors Association, Mr Diao Chun-he; made keynote presentations, elaborating on the advantages and opportunities for Mainland and Hong Kong companies to cooperate and achieve success jointly in "Going Global".
Permanent Secretary for Development (Works) at Development Bureau of HKSAR, Mr Wai Chi-sing, introduced Hong Kong's advantages and outlined the many opportunities for the construction-related companies in the building and project management sector as well as international trends in the industry. Other speakers included Past Chairman of the Civil Division of the Hong Kong Institution of Engineers, Mr Joseph K H Choi; Partner of Tax and China Business Advisory Services of PricewaterhouseCoopers Ltd, Ms Cathy Jiang; and Deputy General Manager of Corporate Banking and Financial Institutions of Bank of China (Hong Kong) Limited, Mr Stephen Chan, who presented the experience of Hong Kong companies in international project management and opportunities for international cooperation, setting up business in Hong Kong and the diverse corporate finance services in Hong Kong, respectively.
Mr Liu Hong, Vice President of the China Road and Bridge Corporation, and Mr Zhang Zhe-sun, Executive Director of China State Construction International Holdings Limited, were also guest speakers at the Forum, sharing their respective market experience in the construction field in the Hong Kong and Mainland markets, respectively.
The Forum concluded with a networking reception hosted by Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, and comprising guests from the overseas chambers of commerce and consulates.
On January 21, participants from Mainland enterprises will pay visit to a number of infrastructure projects involving Mainland-Hong Kong joint ventures, which include the Wan Chai Development Phase Two "the Trunk Road", and meet member companies of the Hong Kong Construction Association.
Supporting organisations of the Forum included China International Contractors Association, China International Economic Cooperation Society, Hong Kong Construction Association, Hong Kong Institution of Engineers, Chinese General Chamber of Commerce, Hong Kong General Chamber of Commerce, Chinese Manufacturers' Association in Hong Kong, Federation of Hong Kong Industries and the Hong Kong Chinese Enterprises Association.
About Invest Hong Kong
Invest Hong Kong is the department of the Hong Kong Special Administrative Region (HKSAR) Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As it celebrates its 10th anniversary, Invest Hong Kong has completed over 2,100 investment projects creating over 26,000 new jobs in the first year of operation or expansion and HK$57 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit www.flickr.com/photos/investhk/sets/72157625851214254 .
Ends/Thursday, January 20, 2011
Issued at HKT 17:32
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