Speaking at a Hong Kong-Fujian investment promotion seminar in Philadelphia on Thursday, Hong Kong's Director-General of Investment Promotion, Mike Rowse explained that American companies can enter the Mainland market through Hong Kong under the Closer Economic Partnership Arrangement.
Mr Rowse stated that US firms can set up an office in Hong Kong and form a joint venture with local companies, observing that:
"Hong Kong is the preferred business location for foreign companies to manage their regional operations. Our city is home to 3,845 regional headquarters and offices operated by foreign and Mainland companies, nearly 900 of which are from the US."
"US enterprises form what is the largest international business community in Hong Kong, with approximately 1,200 firms in a wide range of sectors."
He concluded:
"While US companies continue to expand in Hong Kong, we welcome more companies to establish a base in our city to invest in the Mainland, particularly in Fujian. They can capitalise on the complementary strengths of the two places to tap the huge Pan-Pearl River Delta, or even the Mainland market."
The US is the fifth largest source of foreign direct investment (FDI) in Hong Kong, with a total stock of FDI amounting to US$31.2 billion at the end of 2004.
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