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More than 50 Hong Kong investors and professionals participated in a seminar in Shanghai today (January 13) to share work experiences in the city.

The seminar was the first of its kind hosted by the Ministry of Commerce and the Government of the Hong Kong Special Administrative Region (HKSAR) in Shanghai. It was co-organised by the Office of the Government of HKSAR in Beijing (Beijng Office), the Trade and Industry Department, the Shanghai Foreign Economic Relations and Trade Commission, the Hong Kong Trade Development Council and the Hong Kong Chamber of Commerce in China, Shanghai.

As the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) has been in place since January 1 last year, the seminar enabled Mainland officials, and entrepreneurs and professionals from Hong Kong to discuss the investment advantages and official policies in Shanghai, exchange experiences and explore further business opportunities.

Speaking at the opening of the seminar, the Director of the Beijing Office, Mr Bowen Leung, said: "The implementation of CEPA is a major milestone of economic co-operation and development between Hong Kong and the Mainland.

"Hong Kong enterprises are renowned for their business acumen. With the support of the Central Government and provincial authorities, as well as the active promotion by the HKSARG and other organisations, such as the China Council for the Promotion of International Trade, the Hong Kong Trade Development Council and other Hong Kong organisations, CEPA has become a major issue to Hong Kong businessmen and entrepreneurs, and brought about increased investment between Hong Kong and the Mainland, contributing to further economic development to both places. Since the signing of CEPA, many Mainland provinces have also enthusiastically studied ways to further strengthen their economic co-operation with Hong Kong," Mr Leung said.

Also speaking at the seminar, the Director-General of Trade and Industry, Mr Raymond Young, explained the role of his department under CEPA. The department's services include the provision of information, certification of Hong Kong Service Supplier, and relaying businessmen's views to Mainland authorities.

Mr Young pointed out that the operation of CEPA in its first year had been smooth. "CEPA is a trading platform. As the content of CEPA has been continually enriched, not all of its economic benefits could be apparent in the first year. It takes time for enterprises to draw up investment plans, understand the markets, and complete various application and approval procedures.

"The growing openness of the Mainland market, in terms of goods and services trades, means enormous business opportunities to Hong Kong investors. However, enterprises have to work harder and spend more time to gather market information in order to make the best investment decisions," he added.

Other speakers at the seminar were Director-General of Foreign Investment Administration, Ministry of Commerce, Mr Hu Jinyan; Deputy Director-General of the Department of Taiwan, Hong Kong and Macao Affairs, Ms Chen Xin; Chairman of the Shanghai Foreign Economic Relations and Trade Commission, Mr Pan Longqing; President of the Hong Kong Chamber of Commerce in China, Shanghai, Mr Mike Yeung; and Regional Director of the Eastern and Central China, Hong Kong Trade Development Council, Mr Colin Deng. It was attended by Shanghai government officials; and representatives from Hong Kong's catering, legal, banking, advertising and financial sectors.

Ends/Thursday, January 13, 2005

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