Hong Kong – InvestHK organises hybrid symposium and business executive dinner in Shanghai to promote Hong Kong’s financial advantages and business opportunities (with photos)

Mar 25, 2021 | International

     Invest Hong Kong (InvestHK) co-hosted a hybrid symposium and East China executive dinner in Shanghai with the Hong Kong Economic and Trade Office in Shanghai of the Hong Kong Special Administrative Region (HKSAR) Government today (March 25) to encourage Shanghai enterprises to leverage Hong Kong’s financial and business advantages to accelerate their expansion in overseas markets.
                     
     The event, entitled “Hong Kong – Unparalleled Opportunities to Expand Your Global Business”, was jointly organised by the Hong Kong Economic and Trade Office in Shanghai and InvestHK. It was also co-organised by the China Council for the Promotion of International Trade Shanghai Branch, the Shanghai Federation of Industry and Commerce and the Hong Kong Exchanges and Clearing Limited.
                     
     The event began with welcoming remarks delivered via video by the Financial Secretary, Mr Paul Chan, and InvestHK’s Director-General of Investment Promotion, Mr Stephen Phillips. The Director of the Hong Kong Economic and Trade Office in Shanghai, Mrs Laura Aron, delivered a keynote speech at the symposium.

     Mr Chan pointed out that with the backing of the country, Hong Kong has continued to be a good partner for Mainland enterprises that look to expand in overseas markets. Over the past two years, the city’s financial markets remained stable and orderly, ranking first and second in terms of the total amount of funds raised in initial public offerings in 2019 and 2020 respectively. Over the past two years, the banking system also remains resilient, with the total amount of deposits rising 2.9 per cent in 2019 and 5.4 per cent in 2020. By mid-2020, there were over 9 000 Mainland and foreign companies operating in Hong Kong, of which 1 500 had their regional headquarters in the city, reflecting the companies’ confidence in Hong Kong.

     Mr Chan said, “Despite the challenges, Hong Kong’s status as an international financial centre remains very solid and our city continues to be competitive. We welcome companies to come to Hong Kong and use our financial and professional services, and to capitalise on our role as a springboard to expand business abroad.”
      
     Mr Phillips, speaking via video, told the event about the various business advantages of Hong Kong as an international financial centre. He said, “Hong Kong offers Mainland enterprises an internationalised and diversified, vibrant business environment. From Hong Kong Mainland enterprises can tap into a wide range of opportunities in the city, the Greater Bay Area, the Association of Southeast Asian Nations region and further afield. Mainland enterprises can leverage Hong Kong for brand building, upgrading and further business expansion.”
      
     He added, “The comprehensive range of world-class legal, financial and professional services, as well as intellectual property protection, can help expand business, whilst mitigating risks effectively. At the same time, a pool of well-qualified talent can bring insights and expertise to help enterprises develop outside markets.”
      
     The Head of Investment Promotion Units of InvestHK in Shanghai, Mr Phillip Kung, and InvestHK’s Head of Financial Services, Mr Dixon Wong, also spoke about how Mainland enterprises can leverage Hong Kong’s business advantages to explore business opportunities in overseas markets and introduced the diverse services InvestHK offers clients in the financial sector at the event. Other speakers included the Managing Director and Head of Mainland Client Development, Market Development, Hong Kong Exchanges and Clearing Limited, Ms Elena Lin; Partner of Tax and Business Advisory Services, PricewaterhouseCoopers Consultants (Shenzhen) Limited, Shanghai Branch, Ms Stella Fu; and Senior Partner of AllBright Law Offices Mr Yu Bingguang. They discussed Hong Kong’s financial market, tax advantages and legal support. Finally, two representatives from local companies, the Chairman of Shanxi Securities International Financial Holdings Limited, Mr Qiao Junfeng, and the General Manager of Shandong Gold Group Co Ltd and President of Shandong Gold Mining Co Ltd, Mr Li Guohong, presented case studies of Mainland companies leveraging the city’s international platform to expand their business.
      
     In conclusion, speakers at the event said that Hong Kong, as an international financial centre, has advantages including comprehensive and sophisticated financial infrastructure, a free flow of capital and diverse fundraising channels. The city is also the biggest offshore Renminbi centre and Asia’s largest asset management hub. With these factors, Hong Kong can meet the increasing fundraising and asset management needs of Mainland and overseas companies with an array of support services for offshore Renminbi business and reliable and highly efficient Renminbi transaction services to facilitate overseas financing.
          
About InvestHK
              
     InvestHK is the department of the HKSAR Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.
              

InvestHK of the HKSAR encourages Australian companies to leverage Hong Kong’s business advantages in the Guangdong-Hong Kong-Macao Greater Bay Area

Mar 2, 2021 | Business

Invest Hong Kong (InvestHK), a department of the Hong Kong Special Administrative Region Government (HKSAR), hosted a hybrid symposium entitled “Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business” in Sydney on March 1, attracting over 400 participants from Hong Kong and Australia.
The Secretary for Commerce and Economic Development, Mr Edward Yau, speaks via video on the huge potential of the Guangdong-Hong Kong-Macao Greater Bay Area and encourages Australian enterprises to seize the abundant opportunities in his keynote speech during the symposium “Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business” hosted by Invest Hong Kong in Sydney (March 1).

The Director-General of Investment Promotion at Invest Hong Kong (InvestHK), Mr Stephen Phillips, delivers welcoming remarks via video during the symposium “Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business” in Sydney (March 1), revealing the vast business potential and the composite advantages of Hong Kong in the emerging market of the Guangdong-Hong Kong-Macao Greater Bay Area.

The Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Mr Tommy Yuen, gives a keynote speech via video during the symposium “Hong Kong: Your Greater Bay Area Partner in Expanding Your Global Business” in Sydney (March 1).

The symposium focused on the attractiveness of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as well as the strategic role of Hong Kong in the overall development of the GBA. It brought together the Director of the Australian Chamber Business Leaders Council, Mr Paul Nicolaou, and other speakers renowned in their respective fields to share insights.

The Secretary for Commerce and Economic Development, Mr Edward Yau, talked in his online keynote speech about the huge potential of the GBA and encouraged Australian enterprises to seize the abundant opportunities. He said that, as quoted in studies, while the GBA constitutes only 1 per cent of land in the entirety of China and has 5 per cent of the country’s population, it produces 12 per cent of the nation’s GDP, and exports 37 per cent of national trade.

“Connectivity through extensive efficient railway systems plus world-class airports and container ports and telecom networks within the GBA provides a solid foundation for it to thrive as a major economic engine of the country. While the 11 cities pursue a common goal of building the GBA into the best bay area in the world, they play different functions as a holistic cluster. Green and sustainable development will be another driver of the GBA in attracting international businesses. By various estimates, the GBA’s GDP will grow to top US$4.7 trillion by 2030, presenting growth potential that Australian companies should not be missing,” Mr Yau said.

Another keynote speaker, the Commissioner for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area, Mr Tommy Yuen, said via video, “Hong Kong, under ‘one country, two systems’ and armed with the GBA development plan is ideally placed to contribute to and benefit from both. Hong Kong will focus on better integration into the country’s domestic market, taking the GBA development as an entry point, and will proactively strengthen our role as a facilitator to link up the domestic circulation and the international circulation. Playing the dual role well will bring continuous impetus to Hong Kong’s economy. Businesses that operate in Hong Kong will hence be able to take full advantage of not just what Hong Kong has to offer but what the GBA market can offer.”

The Director of the Hong Kong Economic and Trade Office in Sydney, Ms Winnie Chan, and the Director-General of Investment Promotion at InvestHK, Mr Stephen Phillips, delivered welcoming remarks. Mr Phillips, speaking via video, revealed the vast business potential and the composite advantages of Hong Kong in the emerging market of the GBA. “The GBA in my opinion is the most exciting economic development plan in this planet. It is home to 72 million consumers and many of the country’s most innovative companies, and backed by the leading international financial centre status of Hong Kongas well as all other dynamic economic clusters. The intra-regional trade and investment flows, especially between the GBA and ASEAN, present many new opportunities ahead,” he said.

Other speakers at the symposium included the Managing Director and Group CEO of the University of Wollongong Global Enterprises, Ms Marisa Mastroianni, who discussed her experience on how to leverage Hong Kong to extend the university’s global network of higher education institutions. The CEO and Founder of AirTrunk, Mr Robin Khuda; Partner in Tax of KPMG Hong Kong and Head of Alternative Investments of KPMG China Mr Darren Bowdern; the National President of Australia China Business Council, Mr David Olsson; and the Director of Philanthropy and Government Relations of the Fred Hollows Foundation, Mr Michael Allen, also talked about the unparalleled opportunities in Hong Kong during the panel discussion moderated by the Chairman, Global Engagement of the Business Council of Australia, Mr Warwick Smith.

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.