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Hong Kong is the best starting point in China for overseas businesses, the Chief Executive, Mr Donald Tsang, has told France's top business leaders today (November 10, Paris time) in Paris.
Speaking to corporate chiefs at a breakfast meeting, and delivering a keynote speech to more than 4,000 people at the Hong Kong - Guangdong Business Conference, the Chief Executive highlighted Hong Kong's importance as a platform for both large and small companies exploring opportunities in China, and Asia as a whole.
Mr Tsang stressed that Hong Kong firmly believed that the quality of its business environment was the best incentive to attract companies to 'Asia's world city'.
"Attracting trade and investment is a major part of what governments do today. And it's a common practice to offer tax, land or financial incentives. But not in Hong Kong," he said.
"Hong Kong offers a wholesome venue, second to none. Hong Kong is a starting point that offers a transparent and familiar business environment, and a legal system that is independent and impartial.
"A starting point that has a communications and transport infrastructure second to none in Asia, a low and simple tax system, a corruption-free government, a business-friendly environment, and no exchange controls.
"But perhaps most important, Hong Kong is a starting point full of companies that have the know-how, contacts and experience to give you a head start in China.
"At the other end of the spectrum, for multinational corporations, Hong Kong is a clear leader in Asia as an international financial and professional services centre. In terms of project financing, corporate governance and the free flow of information, Hong Kong has few rivals."
Mr Tsang urged French companies considering a move to China to seriously consider the combined strengths of Hong Kong and Guangdong.
While Guangdong offered the industrial and manufacturing might, Hong Kong offered unparalleled services needed for international finance and trade to flourish.
"You won't be lonely in Hong Kong. There are 6,000 French people living in Hong Kong. There are hundreds of French companies," he said.
"We provide you with the backup services you need, in terms of legal services, financial services, transport services with flights every day to Paris.
"We have the expertise not available in other parts of China. We have the pool of knowledge to help you in your ventures. That's our recipe for success."
The Chief Executive also provided an update on Hong Kong's development since Reunification at a lunch meeting with the French Institute for International Relations.
Mr Tsang said the 'One Country, Two Systems' principle was working well and that Hong Kong would continue to play to its strengths as an international centre for finance, trade and business services.
Mr Tsang left Paris last night and is due to arrive in Hong Kong later today (November 11).
Ends/Saturday, November 11, 2006
Issued at HKT 01:15
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