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Senior representatives from Hebei enterprises took part in a Hong Kong Investment Environment Seminar in Shijiazhuang today (23 June).  The seminar was jointly organised by the Hong Kong SAR Government and the Hebei Provincial Government; Invest Hong Kong and the Development and Reform Commission of Hebei Province are the co-organisers.  It was also supported by the Beijing Office of the HKSAR Government and the Hong Kong Trade Development Council.

The seminar received overwhelming response, with 350 senior executives from over 200 Hebei enterprises attending.

As one of the first events to launch the Hebei-Hong Kong Week (22-28 June), the seminar aims to promote Hong Kong?s advantages as an international business and financial centre with strong fundraising capability and a free market economy.  Hebei investors will be encouraged to use Hong Kong as the springboard to ?go global?.  

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse; and the Vice-Governor of Hebei Province, Mr Cai Li Min spoke at the seminar.

Mr Rowse pointed out that Hebei and Hong Kong have always maintained a close trading and investment relationship.  In fact, Hong Kong is the largest investor in Hebei, representing over 32% of total foreign direct investment in Hebei in 2004. He hoped that Hebei enterprises would deepen their understanding of Hong Kong?s various strengths, such as advanced infrastructure, world-class business services, rule of law and low tax regime - essential components of a business-friendly environment.

Mr Rowse said, ?Our knowledgeable and experienced consultants at Invest Hong Kong can offer Hebei enterprises free and one-stop service so as to assist and guide you through the investment process in Hong Kong.  We welcome you to establish your presence in Hong Kong and assure you our full support as your partner in venturing overseas.?

Other sessions at the seminar included a briefing by the Hebei Province Development and Reform Commission on the ?Going Out? policy and regulations.  Representatives from the Hong Kong Immigration Department and a law firm respectively gave presentations on visa issues and setting up a company in Hong Kong.  An accounting firm partner briefed participating enterprises on Hong Kong?s accounting and tax systems, while the Hong Kong Trade Development Council introduced its functions and services.  

China Shineway Pharmaceutical Group Limited, Great Wall Automobile Holding Company Limited, Xinao Gas Holdings Limited and Triple Well International Limited are examples of prominent Hebei enterprises that have established operations or listed in Hong Kong.

Mainland investment in Hong Kong has been on the rise this year. According to the Ministry of Commerce, a total of 55 Mainland enterprises have been granted approval to invest some US$280 million in Hong Kong just during the first three months of 2005.  In comparison, for all of 2004, 160 Mainland companies were granted approval to invest US$957 million in Hong Kong.  

Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing all the support needed to establish a business presence here.

Ends/Thursday, June 23, 2005
Issued at HKT 15:22

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