Invest Hong Kong (InvestHK) today (September 8) took part in a forum at the 19th China International Fair for Investment & Trade (CIFIT) in Xiamen, Fujian Province, encouraging local companies to leverage Hong Kong’s business advantages to access overseas markets through Hong Kong under the national Belt and Road Initiative.
 
     Entitled "Belt and Road, Together We Grow", the forum was jointly organised by InvestHK, the Trade Office of the Economic Affairs Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR), and the Hong Kong Economic and Trade Office in Guangdong. Supporting organisations included the Hong Kong and Macao Affairs Office of the Xiamen Municipal People’s Government, the Xiamen Municipal Bureau of Commerce, the China Council for the Promotion of International Trade Xiamen Committee, the Xiamen General Chamber of Commerce, and the China Council for the Promotion of International Trade Quanzhou Branch. It was also supported by the Department of Outward Investment and Economic Cooperation and the Ministry of Commerce. The forum began with remarks from the Acting Director-General of Investment Promotion, Mr Francis Ho.
 
     Highlighting the business advantages of Hong Kong, he said, "Hong Kong is an economy that participates actively in international investment and trade. In 2015, Hong Kong continued to rank second in global foreign direct investment (FDI) inflows. According to the Ministry of Commerce, there were nearly 3,500 Mainland companies investing in Hong Kong in 2015, an increase of more than 12 times compared to 282 companies 10 years ago. As an international financial centre, as well as the biggest asset management centre in Asia and a global offshore Renminbi centre, Hong Kong’s diversified financial infrastructure and services and free flow of capital offer companies a reliable platform for fund-raising. It is also an ideal location for them to establish 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."
 
     He continued, “Hong Kong has been an important economy and trade partner as well as a key conduit of foreign investment of Fujian Province over many years. The city has also been the key fund-raising market for Fujian companies. Under the Belt and Road Initiative, Fujian is the core region of the Maritime Silk Road economic belt. Fujian companies can leverage Hong Kong’s role as a ’super-connector’ between Mainland China and the rest of the world to 'go global'. At the same time, foreign investors can make use of Hong Kong’s advantages to enter the Mainland and other Asian markets. Hong Kong as the ideal platform for fund-raising will also benefit Fujian companies who plan to manage their global merger and acquisitions activities and foreign investment via Hong Kong."
 
     In today’s forum, a panel discussion named “Hong Kong: Ideal Financing Platform in Exploring ‘Belt and Road Route’ for Mainland Entrepreneurs” was attended by speakers including the Head of InvestHK’s Guangdong Investment Promotion Unit, Mrs Mabel Yu; Deputy Chief Executive Office of China Huarong International Holdings Ltd, Ms Amy Cheng; the Vice Chairman, KPMG China, Mr Peter Kung; and Representative of Southern China, Mainland Division, Hong Kong Exchanges and Clearing Limited, Ms Angela Liu. They provided details on Hong Kong’s financing environment, how the city’s taxation regime can help Mainland companies in overseas business; the latest developments in the Hong Kong Stock Market and up-to-date information for Mainland companies listing in Hong Kong; and how InvestHK can assist Mainland companies to set up in Hong Kong and "go global" under the Belt and Road Initiative. The key messages were to encourage Fujian companies to make use of Hong Kong’s well-equipped facilities and services for its ideal financing platform and services to expand overseas.
 
     This is the 15th consecutive year that InvestHK has exhibited in the Hong Kong Pavilion at CIFIT. The exhibition showcases a wide spectrum of Hong Kong services and how the city can assist Mainland companies in expanding their overseas operations through its business and trade platform.
 
About Invest Hong Kong
 
     InvestHK is the department of the HKSAR Government established in July 2000 to attract FDI 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. For more information, please visit www.investhk.gov.hk.
 
     For an event photo, please visit www.flickr.com/photos/investhk/albums/72157672373484960.
 

Ends/Thursday, September 8, 2016
Issued at HKT 17:55

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