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Invest Hong Kong and the Hong Kong Chinese Enterprises Association (HKCEA) celebrated with business leaders of Hong Kong-based Chinese enterprises today (March 22) at their co-hosted annual spring reception.
The Secretary for Commerce, Industry and Technology, Mr Joseph WP Wong, was joined by the Deputy Director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR), Ms Guo Li, and the Director-General and the Deputy Director-General of Economic Affairs Department of the Liaison Office, Mr Wang Bingxin and Mr Wang Hui as guests of honour.
The annual event celebrates the role of Mainland companies in Hong Kong. In 2006, 282 Mainland companies invested in Hong Kong, injecting more than US$2 billion into Hong Kong economy, China’s Ministry of Commerce (MOFCOM) reported recently. Mainland companies are attracted by Hong Kong’s international business environment, attractive tax rates and fund-raising capabilities.
368 Mainland―related companies are currently listed on the Hong Kong Stock Exchange Main Board and GEM markets. Last year alone, the mainland-related companies raised HK$384.9 billion, a 94 percent increase on 2005.
The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, thanked the business leaders of the Chinese companies for their continued support and long-term commitment to Hong Kong, “The strong confidence showed by the Mainland entrepreneurial leaders in Hong Kong has been the most encouraging reward to Invest Hong Kong.”
Mr Rowse added that the strong level of cooperation with the the Ministry of Commerce and the Liaison Office had been an essential driver in allowing them to better serve the needs of Mainland companies interested in Hong Kong.
Speaking at the reception, Chairman of the HKCEA, Mr Qin Xiao said, “Hong Kong has been an excellent partner for Mainland companies seeking outward investment opportunities. Hong Kong’s advantageous position as an international business market fully integrated into the world’s economy has made this city the number one incubator in the Asia Pacific region for Mainland companies looking to expand their business around the world.”
Invest Hong Kong enlarges Mainland offices to cater for demand
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Commenting on Invest Hong Kong’s role, Mr Rowse said, “We have a solid track record of helping ambitious, internationally-minded, Mainland companies to move outside their domestic market. Over the past three years we have helped more than 110 Mainland companies and the trend is for this to increase substantially over the next five years.”
Invest Hong Kong has opened more service centres in the Mainland recently to cater for increased demand. In mid-March a new facility was opened in Shanghai while another will be opened in Chengdu next week. In late 2006 Invest Hong Kong’s Guangzhou office was almost doubled in size.
“The establishment of the Invest Hong Kong Service Centre is part of our long-term China strategy. As interest from Shanghai and its neighbouring provinces continues to rise, Hong Kong will provide a natural business environment and springboard to international markets for the companies from this region.”
Staffed by four inward investment professionals, the Shanghai Investment Promotion Unit provides a range of free services including market research, advice on office rental, staff hiring, visa issues and networking opportunities.
Mr Rowse also thanked the Central Government for its support. “With this strong growth trend we are fortunate that the Central Government, not least the Ministry of Commerce, is so supportive of our efforts to promote the advantages, opportunities and services Hong Kong has to offer.”
Invest Hong Kong’s Chengdu service centre will open on 28 March to better serve the mainland enterprises in the south-west region. Mr Rowse said the Chengdu team planned to build networks with the local business community to pave way for a greater level of cooperation between Hong Kong and the region.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish or expand a business presence here. For more information: www.investhk.gov.hk
Ends/Thursday, March 22, 2007
Issued at HKT 18:05
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