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Invest Hong Kong and the Hong Kong Chinese Enterprises Association (HKCEA) co-hosted the annual spring reception for business leaders of Hong Kong-based Chinese enterprises today (February 16).
The Secretary for Commerce and Industry, 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 Head of Economic Affairs Department of the Liaison Office, Mr Wang Bingxin and Mr Wang Hui, at the reception as guests of honour.
The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, said, "On behalf of Invest Hong Kong, I would like to express our sincere gratitude to the Chinese companies for their continued support and long-term commitment to Hong Kong by their continued investment in the city."
"We would also like to take the opportunity to thank the Ministry of Commerce and the Liaison Office for their generous co-operation and assistance."
The Chairman of the HKCEA, Mr Qin Xiao spoke at the reception. "In the development of the Chinese economy, Hong Kong has been playing an important role in introducing overseas capital, technology and management skills into the Mainland, and serving as the springboard for Mainland enterprises to expand into the international market," he said. "The steady growth in Hong Kong's economy has brought many opportunities for Mainland enterprises. And the implementation of CEPA in recent years has strengthened Hong Kong's attractiveness to Mainland enterprises. We believe that with the rapid development of the Chinese economy and the excellent business environment in Hong Kong, more Mainland enterprises will invest here to set up or expand their operations.
"Chinese enterprises in Hong Kong have become an important force in contributing to the strength of the local economy. According to statistics released by the Hong Kong Exchange, some 211 Mainland enterprises have listed on the Hong Kong stock market. Their total market value of $3.36 trillion represents about 38% of the total overall market value in Hong Kong."
"The successful development of Chinese enterprises in Hong Kong is a result of the open policy in China, the ideal business environment in Hong Kong and strong backing from the Hong Kong SAR Government and the local business community. On behalf of the HKCEA, I would like to express our sincere gratitude to our friends in Hong Kong and to Invest Hong Kong for their unfailing support and co-operation," he said.
Hong Kong as preferred destination of Mainland investment
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Mr Rowse pointed out that the growing number of investments from the Mainland shows Hong Kong's increasingly important role as the springboard for companies to expand out of China.
As reported by the Census and Statistics Department, the Mainland was the one of the largest contributors to Hong Kong's direct investment inflow in 2004, amounting to $62 billion. This represents a 63% increase in the investment inflow from the Mainland compared with 2003.
According to the Ministry of Commerce, 253 Mainland enterprises were granted approval to invest in Hong Kong in 2005, representing a significant growth of 58% from 160 approved cases in 2004.
Strengthened investment promotion efforts
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To provide more comprehensive coverage in the Mainland, Invest Hong Kong will devote more resources to that market. In the second quarter of this year, Invest Hong Kong will strengthen its presence in the Beijing Office and the Hong Kong Economic and Trade Office (HKETO) in Guangdong by designating locally-based investment promotion staff to serve the local and neighbouring areas. Moreover, when two new HKETOs open in Chengdu and Shanghai later this year, Invest Hong Kong will set up investment promotion units in those offices. These locally-based investment promotion teams will work closely with the teams in the Hong Kong head office to attract and assist Mainland investors.
In addition to designating more manpower to address the needs of Mainland investors, an investment service centre will be set up in each of these four offices. These centres will provide potential Mainland investors with the latest information on doing business in Hong Kong and give them the opportunity to meet our investment promotion staff.
Mr Rowse said, "The strengthened presence and service in key Mainland cities will allow us to reach out to more potential investors in the Mainland. It will also enable Invest Hong Kong to provide direct assistance and face-to-face consultation with Mainland enterprises with interest in investing in Hong Kong."
With the opening of the new investment promotion units, the department will roll out a series of large-scale promotional programmes in these markets. These programmes will include full-day seminars and activities targeting the local business community and media.
Invest Hong Kong also has strengthened its marketing efforts targeting Mainland investors. These include:
* An updated edition of the "Investment Guide Book", with comprehensive and detailed information on various aspects of setting up businesses in Hong Kong.
* A second edition of the "Step-by-step guide" for Mainland enterprises, which includes information on the approval procedures for foreign exchange.
* A revamped, simplified Chinese website designed for the Mainland market.
"We will continue to work closely with the Mainland business community and our counterparts in Mainland governments to encourage more enterprises to use Hong Kong as their springboard to the international market. We at Invest Hong Kong wish all our Mainland friends great success in the year of dog and in the years to come," Mr Rowse concluded.
Ends/Thursday, February 16, 2006
Issued at HKT 18:32
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