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Invest Hong Kong encourages Sichuan enterprises to “go global” via Hong Kong

Invest Hong Kong (InvestHK) hosted a seminar in Chengdu, Sichuan Province, today (2 November 2017), introducing Hong Kong’s unique business advantages to local companies under the national Belt and Road Initiative and how they could leverage those advantages to access overseas markets through the city.

Invest Hong Kong encourages Sichuan enterprises to “go global” via Hong Kong

Director-General of Investment Promotion, Mr Stephen Phillips, speaks at the “Belt and Road, Together We Grow” seminar hosted in Chengdu, Sichuan province

The seminar, entitled “Belt and Road, Together We Grow”, was organised by InvestHK in partnership with the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region (HKSAR). It was also supported and co-organised by the Hong Kong Economic and Trade Office in Chengdu (CDETO) of the HKSAR Government, the Department of Commerce of Sichuan Province, the Department of Hong Kong and Macao Affairs of the Sichuan Provincial People’s Government, the Sichuan Federation of Industry and Commerce, and the China Council for the Promotion of International Trade, Sichuan Provincial Committee.

The Director-General of Investment Promotion, Mr Stephen Phillips; the Deputy Director of the Department of Commerce of Sichuan Province, Ms Zhang Ying; and the Director of the CDETO of the HKSAR Government, Ms Pamela Lam, delivered remarks at the event.

In his speech, Mr Phillips stated, “Hong Kong offers a wide range of benefits for Sichuan businesses. The city enjoys unique advantages under ‘one country, two systems’. Hong Kong has distinct competitive edges including our geographical location, a vibrant business environment, a robust legal system, intellectual property protection, and deep, world-class financial and professional services, amongst others.”

He continued, “More and more Mainland and overseas companies have already set up their presence in Hong Kong. According to the recent joint survey conducted by InvestHK and the Census and Statistics Department, the number of business operations in Hong Kong with parent companies overseas and in Mainland China climbed to 8 225 in 2017. The Government has announced new tax measures to benefit small and medium-sized enterprises in the 2017 Policy Address last month, with the profits tax rate for the first HK$2 million of profits set to be halved to 8.25 per cent. The Belt and Road Initiative and Guangdong-Hong Kong-Macao Bay Area policies will offer Sichuan companies more opportunities via Hong Kong. Hong Kong will continue to play a role as a gateway for multinational companies accessing the Mainland market and as a springboard for Mainland companies seeking to ‘go global’. I strongly encourage Sichuan companies to leverage on Hong Kong to embrace the new opportunities under these two national initiatives.”

The Head of Investment Promotion Unit of InvestHK in Wuhan, Ms Helen Zhang, also introduced Hong Kong’s business environment and ways to “go global” under the Belt and Road Initiative at the seminar. She highlighted the various types of free services and assistance InvestHK can offer to Sichuan companies that intend to set up in Hong Kong and “go global”.

Other speakers at the seminar included the Head of Enterprise, KPMG China, and Past President and Fellow of the Taxation Institute of Hong Kong, Mr Peter Kung; the Head of the Global Capital Financing Department, Industrial and Commercial Bank of China (Asia) Limited, Mr Yang Fan; former President and current Chairman of the Committee on Mainland Affairs of the Hong Kong Institution of Engineers, Professor Reuben Chu; and Chief Immigration Officer of the CDETO of the HKSAR Government, Mr Tsang Yu Fai. They talked about how Hong Kong’s advantages in taxation, diversified financing platform and engineering consultation services in Hong Kong benefit Mainland enterprises to “go global”, as well as visa arrangement for entry to Hong Kong from the Mainland. A representative from a Sichuan enterprise in Hong Kong, Partner of Tahota Law Firm, Mr Gan Jianming, also shared his experience to encourage Sichuan enterprises to make use of Hong Kong’s facilities and services to expand overseas.

About InvestHK

InvestHK is the department of the HKSAR Government established in 2000 to attract 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. For more information, please visit www.investhk.gov.hk.

For an event photo, please visit: www.flickr.com/photos/investhk/albums/72157690032832556.

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