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Invest Hong Kong and the Guangzhou Municipal Government co-organised a seminar in Taipei, Taiwan, today (August 30) to jointly promote their combined business advantages and how these can benefit Taiwan companies in their expansion into Hong Kong and Mainland China.
The seminar, entitled "Reaching Mutual Success for Taiwan, Hong Kong and Guangzhou", began with welcome remarks by the Chairman of the Taiwan General Chamber of Commerce, Mr Chang Pen-tsao, and was followed by keynote addresses delivered by Hong Kong and Guangzhou representatives, case studies and other presentations.
In his keynote address to more than 250 senior business executives at the event, Director-General of Investment Promotion, Mr Simon Galpin, highlighted Hong Kong's strengths as Asia's business capital. He also emphasised the enduring advantages that make the city a strategic platform from which to access unlimited business opportunities in the Mainland and internationally.
He said, "Hong Kong has its own rule of law and independent judiciary, a high degree of autonomy, and separate customs, currency and immigration regimes. It is known for its light tax burden based on simple and predictable taxation. The city negotiates and signs its own economic and trade agreements and is a full and separate member of the World Trade Organization and Asia-Pacific Economic Cooperation. With these strengths, Hong Kong and Taiwan can continue to enjoy close economic and trade relations."
At the end of 2010, Taiwan was Hong Kong's fourth largest trading partner with a total trade value amounting to over HK$290 billion (US$37 billion). According to a survey conducted by the Hong Kong Special Administrative Region (HKSAR) Government, as at June 1, 2010, the number of regional headquarters, regional offices and local offices in Hong Kong representing parent companies located in Taiwan were 30, 184 and 238 respectively.
Some notable Taiwanese companies, including Foxconn, U-Presid China, Want Want, Tingyi, Fubon Bank and Tomson Group have been doing business in Hong Kong for decades, and many of them have publicly listed in the city. "Apart from these larger corporations, there are many other Taiwanese companies doing business in Hong Kong in various sectors such as financial services, logistics and food and beverage," Mr Galpin said.
Deputy Director General, Bureau of Foreign Trade and Economic Cooperation of Guangzhou Municipality, Ms Yuan Yue, said, "Guangzhou and Taiwan have established close and steady ties in economic exchange and trade cooperation.
In 2010, Guangzhou's exports to Taiwan reached US$658 million and imports amounted to about US$2.9 billion. Taiwanese foreign direct investment in Guangzhou reached US$140 million at the end of 2010, with 34 investment projects."
Other speakers at the seminar included General Manager and Director, Taiwan Concord Securities, Mr Ou Hung-chieh; Chairman, HealthBanks, Mr H K Chang; Honorary Citizen of Guangzhou, Chairman of the Association of Taiwan-funded enterprises in Guangzhou, Mr Cheng Feng-yuan; Principal Consultant (Taipei), Invest Hong Kong, Mr K W Lam; Representative of Guangzhou Municipal Science and Technology and Information Bureau, Dr Zhao Xiaoxi; and General Manager, Taiwan, Hong Kong Trade Development Council, Mr Perry Fung.
About Invest Hong Kong
Invest Hong Kong is the department of the HKSAR Government established in July 2000 to take responsibility for Foreign Direct Investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As it celebrates its 11th year of operation, Invest Hong Kong has completed over 2,300 investment projects creating more than 28,000 new jobs in the first year of operation or expansion and HK$60 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit www.flickr.com/photos/investhk/sets/72157627514197042/.
Ends/Tuesday, August 30, 2011
Issued at HKT 17:45
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