Invest Hong Kong encourages Shaanxi enterprises to "go global" (with photo)
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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 Shaanxi Provincial Department of Commerce, the Hong Kong and Macao Affairs Office of People's Government of Shaanxi Province, the Shaanxi Federation of Industry and Commerce and the China Council for the Promotion of International Trade, Shaanxi Sub-Council.
Associate Director-General of Investment Promotion, Mr Francis Ho; Deputy Director-General of the Economic Affairs Department and Head of the Commerce Office of the CPGLO in the HKSAR, Mr Yang Yi; Vice Director General, Shaanxi Provincial Department of Commerce, Mr Jing Guiquan; and the Director of CDETO, Mr Danny Lau, delivered welcome remarks at the event.
Commenting on Hong Kong's business advantages and the opportunities it has to offer Shaanxi companies, Mr Ho said, "Hong Kong has been an important economy and trade partner and a key conduit of foreign investment of Shaanxi for many years. The city has also been the largest source of investment in Shaanxi. As the significant hub connecting the eastern and western parts of the Mainland, Shaanxi has a unique geographic location with plenty of mineral resources. Its development in science and technology is also growing very fast. Under the Belt and Road Initiative, Shaanxi as the starting point of the new 'Silk Road' economic belt will enhance economic and trade co-operation with the countries and regions along the route. Hong Kong as a 'super-connector' between Mainland China and the rest of the world can provide a dynamic business environment for Mainland enterprises, helping Shaanxi companies to embrace the new opportunities offered by the Belt and Road Initiative.
"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 multinational and Mainland companies. It is also an ideal location for companies to establish their corporate treasury centres (CTCs). In order to attract more companies to set up their CTCs in Hong Kong, the HKSAR Government recently announced a concessionary tax rate, which is half of the ordinary profits tax rate, for qualifying CTCs. It provides an attractive environment for multinational and Mainland corporations to centralise their treasury functions in Hong Kong. In fact, more and more Mainland companies have already set up a presence in Hong Kong, using it as their platform to 'go global' and for fund-raising. According to the Ministry of Commerce of the People's Republic of China, there were nearly 3 500 Mainland companies investing in Hong Kong in 2015, a more than 12 times increase compared to the 282 companies 10 years ago. According to the International Institute for Management Development World Competitiveness Yearbook 2016, Hong Kong has regained its position as the world's most competitive economy. Together with 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 can strengthen the co-operation with the provinces and cities along the routes and jointly organise investment promotion activities to encourage companies in the regions to use Hong Kong as the platform to 'go global' and promote Hong Kong as an important hub as part of this initiative."
The Head of Central and West China Investment Promotion of InvestHK, Ms Helen Zhang, 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 InvestHK can offer to Shaanxi companies that intend to set up in Hong Kong and "go global".
Other speakers at the seminar included the Director (China Tax and Business Advisory Services) of PricewaterhouseCoopers Consultants (Shenzhen) Limited, Xi'an Branch, Ms Jackie Zhao; representative of Hong Kong Exchanges and Clearing Limited, Beijing Representative Office, Ms Sarah Zhang; the Director of Hong Kong Trade Development Council (HKTDC) Xi'an Office, Mr Zhou Peng, and Immigration Officer of CDETO, Miss Lam Ka-yu. They talked about how Hong Kong's taxation regime benefits Mainland enterprises, Mainland enterprises listing in Hong Kong, the latest development of Shanghai-Hong Kong Stock Connect, the services and information from HKTDC providing for Mainland companies in overseas development, and the visa arrangements for entry to Hong Kong from the Mainland, and encouraged local enterprises to make use of Hong Kong's facilities and services to expand overseas.
About Invest Hong Kong
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 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/72157669941311020.
Ends/Wednesday, July 13, 2016
Issued at HKT 15:02
Issued at HKT 15:02
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