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Invest Hong Kong (InvestHK) hosted a seminar in Chongqing today (March 30), encouraging local companies to leverage Hong Kong's business advantages to access overseas markets under the national Belt and Road Initiative through Hong Kong.
The seminar, entitled "Belt and Road, Together We Grow", was organised by InvestHK in partnership with the Trade Office of the Economic Affairs Department of the Liaison Office of the Central People's Government (CPGLO) in the Hong Kong Special Administrative Region (HKSAR). It was also supported by co-organisers including the Hong Kong Economic and Trade Office in Chengdu (CDETO) of the HKSAR Government, the Chongqing Foreign Trade and Economic Relations Commission, the Chongqing Federation of Industry and Commerce (Chongqing General Chamber of Commerce) and the China Council for the Promotion of International Trade Chongqing Sub-Council.
The Acting Director-General of Investment Promotion, Mr Francis Ho; the Deputy Director-General of the Economic Affairs Department and Head of the Commerce Office of the CPGLO in the HKSAR, Mr Yang Yi; the Deputy Director of the Chongqing Foreign Trade and Economic Relations Commission, Mr Xiong Lin; and the Director of the CDETO, Mr Danny Lau, delivered welcome remarks at the event.
Commenting on Hong Kong's business advantages and the opportunities it has to offer Chongqing companies, Mr Ho said, "Hong Kong has been an important economic and trade partner to Chongqing for many years. It is a key conduit of foreign investment of Chongqing and also a major capital raising market for local enterprises. Under the Belt and Road Initiative, Chongqing plays a significant role in connecting the western part of the Mainland to Europe, enhancing the economic and trade co-operation with the countries and regions along the routes. Hong Kong as a 'super-connector' between Mainland China and the rest of the world could provide a dynamic business environment for Mainland enterprises, helping Chongqing companies to embrace the new opportunities offered by the 'Belt and Road' Initiative."
He continued, "As an international city in Asia, Hong Kong offers effective financial, insurance, accounting and legal services, all of which work together to create a comprehensive and modern service industry platform to assist Mainland and multinational companies. It is also an ideal location for companies to establish their corporate treasury centres. In fact, more and more Mainland companies have already set up their presence in Hong Kong and used it as the platform to 'go global' and for investing. According to the Ministry of Commerce of the People's Republic of China, nearly 3,500 Mainland companies invested in Hong Kong in 2015, an increase of more than 12 times compared to 282 companies 10 years ago. In 2014, Hong Kong ranked second in global foreign direct investment inflows for the first time. Under the Belt and Road Initiative, Hong Kong could provide professional services to Mainland enterprises such as financing, logistics and transportation, as well as legal services. InvestHK will strengthen the co-operation with the provinces and cities along the routes and jointly organise investment promotion activities with relevant government departments and industrial and trade organisations to encourage companies in the regions to use Hong Kong as the platform to 'go global' and promote Hong Kong as the important hub as part of this initiative."
The Investment Promotion Manager in Chengdu of InvestHK, Miss Connie Yu, also gave a presentation during the seminar, introducing Hong Kong's business environment and ways to go global under the Belt and Road Initiative. She also highlighted the various types of free services and assistance that InvestHK can offer to Chongqing companies that intend to set up in Hong Kong and "go global".
Other speakers at the seminar included Partner, International Tax Services, Deloitte & Touche Financial Advisory Services (China) Limited, Ms Shanice Siu; Representative of Southern China, Mainland Division, Hong Kong Exchanges and Clearing Limited, Ms Angela Liu; Partner and Deputy Director of Hong Kong Office, Zhonghao Law Firm, Mr Ben Ke; Director, Hong Kong Trade Development Council (HKTDC) Chongqing Office, Mr Alan Zhou; and Immigration Officer, CDETO, Mr Chen Chi-hong. They talked about how Hong Kong's taxation regime benefits Mainland enterprises, Mainland enterprises listing in Hong Kong, the latest developments of the Shanghai-Hong Kong Stock Connect, case study sharing from Chongqing enterprises that had set up a business in Hong Kong, the services and information from the HKTDC provided for Mainland companies in overseas development, and visa arrangements for entry to Hong Kong from the Mainland.
About InvestHK
InvestHK is the department of the HKSAR Government established in July 2000 to take responsibility for foreign direct investment and support overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services to help businesses succeed in Hong Kong's vibrant economy. As at December of 2015, Invest Hong Kong had completed over 3 820 investment projects creating more than 41 200 new jobs in the first year of operation or expansion and over HK$101 billion of investment. For more information, please visit www.investhk.gov.hk.
For event photos, please visit: www.flickr.com/photos/investhk/albums/72157664210693514.
Ends/Wednesday, March 30, 2016
Issued at HKT 15:48
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