**********************************************************
Special Representative for Hong Kong Economic and Trade Affairs to the European Union, Miss Mary Chow, today (November 16 Turkish time) encouraged Turkish companies to make use of Hong Kong to do business with the Mainland of China and the Pearl River Delta.
Addressing 80 members of the Aegean Exporters Association (Egebirlik) at a seminar in Izmir, Turkey, co-organised by the Hong Kong Economic and Trade Office in Brussels and the Hong Kong Trade Development Council, Miss Chow explained to the Turkish audience the "One Country, Two Systems" principle and the provisions of the Basic Law, which guarantee the Special Administrative Region a high degree of autonomy and the preservation of all its freedoms.
She noted that since Hong Kong's reunification with China in 1997, the international business community has remained unswervingly confident in Hong Kong's business environment. Hong Kong has maintained its Heritage Foundation and Fraser Institute rankings as the world's freest economy and was also ranked the world's most competitive economy by the International Institute of Management Development in May this year.
Hong Kong enjoys an unrivalled position as the gateway to the mainland of China and to the Pearl River Delta. As the largest investor in the Mainland, experienced in its culture and procedures, it is benefitting from the new market opportunities arising from the Mainland, including through the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA). Since Hong Kong practises a level playing field, foreign companies established in Hong Kong can enjoy the same CEPA advantages as Hong Kong companies.
IPO funds raised in Hong Kong's stock market reached EUR 40 billion last year, with an increasing number of listings by foreign companies wanting to raise capital to develop their businesses in the Mainland. Hong Kong is also China's global financial centre to attract capital and talents, and is serving as a testing ground for the wider use of the Renminbi in international trade and investment.
With a world-class regulatory framework, Hong Kong provides legal protection for contracts and has a stringent intellectual property protection regime. Its arbitral awards are enforceable in 140 countries as well as in the Mainland. Added to these strengths are its strong anti-corruption culture, well-educated workforce and low and simple tax regime.
"It is therefore not surprising that according to figures released last month, a record 6,948 overseas and Mainland China companies have chosen to set up regional offices or headquarters in Hong Kong," Miss Chow said.
Investors continue to flock to Hong Kong, which was the third largest recipient of foreign direct investment in the world in 2010.
Tomorrow (November 17, Turkish time), Miss Chow will address some 50 members of the Aegean Chamber of Industry (EBSO) at another seminar in Izmir co-organised with the Hong Kong Trade Development Council.
Ends/Thursday, November 17, 2011
Issued at HKT 02:29
NNNN