Hong Kong and the Pearl River Delta provide a 'total solution' for investors

Hong Kong and the Pearl River Delta together represent a 'total solution' for overseas companies wanting to enter the vast China market, the Secretary for Commerce, Industry and Technology, Mr Henry Tang, said today (November 27).

Hong Kong, he said, was the premier business and services centre, with well-developed clusters of bankers, lawyers, accountants, consultants and specialists; and the PRD had its strengths in terms of manufacturing power and the breadth and depth of its economic activities.

"In attracting foreign investment, we should look at Hong Kong and the PRD as a whole; and, indeed, we are moving in this direction," Mr Tang told the Hong Kong General Chamber of Commerce's 9th Annual Hong Kong Business Summit.

In September, Invest Hong Kong joined with the Bureau of Foreign Trade and Economic Co-operation of the Guangzhou Municipality to hold the first-ever joint promotional investment seminar in Tokyo. And earlier this month, a trade mission of Canadian business people included a visit to Hong Kong-owned factories in the PRD to showcase how the regions complemented each other's development.

Mr Tang said both events had received very positive response. InvestHK, the Hong Kong Trade Development Council, and the Hong Kong Economic and Trade Office (ETO) in Guangdong would continue to organise joint promotions with Guangdong authorities, he added. The aim is to promote the Hong Kong/PRD region as the preferred business platform for overseas investors, with Hong Kong as the specific services centre for investors.

"For local companies that have established their presence in the PRD, we need to provide timely and appropriate support to them. The Guangdong ETO has been actively liaising with Hong Kong businesses in the PRD to understand their concerns and reflect them to the relevant authorities, Mr Tang said.

"They have achieved some remarkable results in this area. For instance, the difficulties faced by Hong Kong manufacturers in the PRD regarding the new documentary requirement on the import of certain steel products were quickly resolved, through the joint efforts of the trade and the Guangdong ETO in reflecting the concerns to the relevant Mainland authorities and through effective and timely follow-up actions.

"We will not stop at the Pearl River Delta, but will continue to expand inland as well as strengthen our presence elsewhere in the Mainland through the efforts of the TDC and our own offices in Beijing and Guangdong," Mr Tang said.

End/Wednesday, November 27, 2002