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Companies from Nagoya and other parts of Aichi Prefecture, Japan, were briefed on how they can utilise Hong Kong in their bids to develop their business internationally at a seminar held in Nagoya City today (November 28) by the Hong Kong Economic and Trade Office in Tokyo.
Addressing some 110 local businesspeople who attended the seminar, the Acting Principal Hong Kong Economic and Trade Representative (Tokyo), Mrs Laura Aron, highlighted Hong Kong's competitive edge, including its low and simple tax regime, free market principles, strategic location and superb connectivity with the world.
She gave an overview of Hong Kong's advantages, which stem from the city's unique status as a Special Administrative Region of China enjoying a high degree of autonomy under the "One Country, Two Systems" principle.
One advantage that is especially relevant to Japanese businesses is the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA). Outlining the main features of this unique free trade pact, Mrs Aron emphasised that CEPA is nationality-neutral. "Foreign firms incorporated in Hong Kong, or those that partner with a Hong Kong firm, can enjoy the same benefits of CEPA as local companies do," she said.
Noting that there are some 7 450 business operations in Hong Kong with parent companies located outside the city, Mrs Aron pointed out that nearly 1 400 of them were set up by Japanese companies, making Japan the largest source country for these business operations in Hong Kong.
She also mentioned that Hong Kong is the major centre for offshore Renminbi business. "We welcome Japanese companies to make use of our Renminbi clearing and settlement platform and issue Renminbi bonds in Hong Kong," she said.
On Hong Kong's advantageous location and global connectivity, Mrs Aron said that Hong Kong, strategically located right on the doorstep of the Mainland, is the logistics hub of Asia. "You can easily reach all key markets in Asia within four hours' flight time. Half of the world's population is within five hours' flight time. This represents a huge and easily accessible consumer market for your business," she explained.
At the seminar, representatives from Invest Hong Kong, the Hong Kong Trade Development Council and the Hong Kong Tourism Board also spoke on the business opportunities that Hong Kong offers. A representative of UNY Co Ltd, an Aichi-based company operating general merchandise stores in Hong Kong, shared the firm's experience with the audience.
Ends/Thursday, November 28, 2013
Issued at HKT 14:25
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