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Hong Kong, supported by the Closer Economic Partnership Arrangement implemented since 2003, is in the best position to benefit from the opportunities in the huge market of Mainland China.
This was stated by the Principal Economic and Trade Representative (Tokyo) of the Hong Kong Special Administrative Region Government, Mrs Jennie Chok, during a business seminar at Kanazawa, Ishikawa Prefecture, today (December 1).
Mrs Chok explained that under CEPA, all Hong Kong products enjoyed zero import tariffs into the Mainland, and service suppliers in 42 sectors could receive preferential treatment in the form of lower barriers to entry for their services on the Mainland.
She said over 6,400 foreign companies, including 1,100 Japanese companies, had already set up subsidiaries in Hong Kong.
"In addition to being an ideal platform from which to access to the Mainland market, Hong Kong is also a most popular regional centre for international trade fairs and conventions," she said.
She encouraged Ishikawa businesses to take advantage of the many different kinds of trade exhibitions and food fairs in Hong Kong to showcase their products, not just to buyers from Hong Kong, but also to buyers from all over the world including China.
At the seminar, Mrs Chok took the opportunity to update the audience on the strong fundamentals of Hong Kong's economy.
These include low taxes, free trade, a level playing field for businesses, efficient communications, free flow of capital, a convertible currency, stable government, the rule of law upheld by an independent judiciary, great infrastructure and a prime location at the mouth of the Pearl River Delta.
Attended by about 70 government officials and local economic and business leaders, including the Vice Governor of Ishikawa, Mr Taketoshi Sugimoto, the seminar was organised by the HKETO to enhance bilateral trade and investment ties between Hong Kong and Japan.
Ends/Tuesday, December 1, 2009
Issued at HKT 15:20
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