Better access for German companies into China

German companies can benefit from Hong Kong's accumulated expertise in financial services, logistics, infrastructure and its special relationship with mainland China to access the growing Chinese economy.

The Special Representative for Hong Kong Economic and Trade Affairs to the European Communities, Mr Chris Jackson, today (November 27) explained to German business executives in Munich the opportunities offered by the Closer Economic Partnership Arrangement (CEPA) signed between the Mainland and Hong Kong.

Speaking at a luncheon organised by the Hong Kong Trade Development Council and the Hong Kong Economic and Trade Office, Mr Jackson said that under CEPA, Hong Kong companies get a head start over the rest of the world when it comes to entering the Chinese market.

From January 1, 2004, a range of goods manufactured in Hong Kong will enjoy duty free access to the Mainland and 18 service industries will be able to enter the Mainland market ahead of China's market opening timetable under the WTO.

Hong Kong has also recently signed agreements on closer collaboration with Guangdong and Shanghai.

Transportation links between Hong Kong and the Pearl River Delta, one of the world's fastest-growing manufacturing regions, are being enhanced. Major infrastructure projects are underway, including the construction of a three-way bridge between Hong Kong, Zhuhai and Macau.

Mr Jackson said the cost of doing business in Hong Kong had come down steadily during the past six years of economic restructuring and business confidence had greatly improved since the signing of CEPA.

Hong Kong's economic strategy was to leverage its proximity and special relationship with the Chinese economy and its expertise and efficiency as a business platform.

"Tremendous opportunities are open to German companies who use the Hong Kong route", said Mr Jackson.

End/Thursday, November 27, 2003