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French investors attending a major investment promotion event, "Hong Kong and Guangdong Business Conference in Paris 2006", today (November 10, Paris time) were encouraged to invest in Hong Kong and Guangdong.
The seminar was hosted by the governments of the Hong Kong Special Administrative Region (SAR) and Guangdong Province.
The seminar received an overwhelming response from the French business community. More than 2,000 senior executives from 1,500 French companies attended. Participants demonstrated strong interest in the Greater Pearl River Delta (GPRD) region, consisting of Guangdong Province's Pearl River Delta Economic Development Zone and the Hong Kong and Macao SARs. The GPRD region is one of the fastest growing areas in China.
The Chief Executive, Mr Donald Tsang, and the Governor of Guangdong Province, Mr Huang Huahua, led the delegations and delivered keynote speeches at the forum.
The forum focused on updating investors on the latest business opportunities and business prospects in Hong Kong and Guangdong for companies in Europe.
Hong Kong and Guangdong have distinct advantages that complement each other. Guangdong Province is strong in manufacturing and provides a large and increasingly sophisticated market for a wide range of products and services. Hong Kong's major assets include world-class trade and logistics support, capital, legal and business services, and international expertise. By working together, the two places can leverage on each other’s strengths to develop the economies and business opportunities in the region.
The Ambassador of the People's Republic of China to France, Mr Zhao Jinjun, made remarks at the beginning of the seminar.
In his keynote speech, Mr Tsang presented the opportunities in China and Hong Kong's role in development a strategy for doing business in China.
Mr Tsang told the French investors, "Hong Kong is a starting point that offers a transparent and familiar business environment, and a legal system that is independent and impartial. A starting point that speaks English - with a good smattering of French as well. A starting point that has a communications and transport infrastructure second to none in Asia, a low and simple tax system, a corruption-free government, a business-friendly environment and no exchange controls."
"But perhaps most important, Hong Kong is a starting point full of companies that have the know-how, contacts and experience to give you a head start in China. As the President of the French Chamber of Commerce and Industry in Hong Kong said recently: 'Working with Hong Kong gives you a decade of China experience overnight'."
He also shared his views on future prospects, saying that a big part of Hong Kong's growth strategy was leveraging its closer relationship with Mainland China, while at the same time servicing the Mainland economic liberalisation.
"One way we are doing this is CEPA, which stands for Closer Economic Partnership Arrangement. It's a free trade pact under which all Hong Kong goods can be exported duty- free to the Mainland, and Hong Kong companies in 27 services sectors have early-bird access to the Mainland market, ahead of China's WTO obligations. European companies can take advantage of CEPA by setting up in Hong Kong or partnering with Hong Kong companies."
The investment promotion agencies for Hong Kong and Guangdong - Invest Hong Kong and the Department of Foreign Trade and Economic Co-operation of Guangdong Province - organised the forum.
On the same day, the "Hong Kong Business Seminar" also was held and was attended by about 300 business executives. The seminar, organised by Invest Hong Kong, the Hong Kong Economic and Trade Office in Brussels and the Hong Kong Trade Development Council, highlighted the advantages of Hong Kong as a platform from which to do business with Mainland China and the rest of Asia.
The Hong Kong Business Seminar began with welcome remarks by Senator of Paris and Member of the Senatorial Group of Friendship France-People's Republic of China, Mr Yves Pozzo di Borgo, and the Secretary for Commerce, Industry and Technology, Mr Joseph WP Wong.
Other speakers, including a panel of five executives from prominent French companies with business operations in Hong Kong, explained why Hong Kong was a low-risk starting point for foreign companies in their China strategies.
The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, said, "France has always been an important strategic partner for Hong Kong economically, with cumulative investment amounting to US$2.2 billion by the end of 2004. There are more than 570 French companies in Hong Kong, including over 170 regional headquarters and offices. We look forward to welcoming even more French businesses to enjoy the abundant business opportunities in Hong Kong."
Ends/Friday, November 10, 2006
Issued at HKT 23:58
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