Invest Hong Kong, the Special Administrative Region’s investment promotion agency, has inaugurated a new promotion team and an investment service centre based in the HKSAR Government’s Beijing Office.
It is intended that the three-member team will assist Mainland companies to take advantage of Hong Kong’s attractive business environment and opportunities.
InvestHK Director-General Mike Rowse said at the Beijing opening that the move has come in response to "rapidly growing demand" for the agency's services from mainland investors.
“This extension of our presence will allow us to provide more assistance to and foster a closer relationship with the growing number of ambitious and dynamic Chinese firms wishing to use Hong Kong to raise equity, tap into our international business network and expand overseas," Mr Rowse explained.
InvestHK’s Beijing-based experts will advise investors on Hong Kong’s regulatory and corporate environments, sector-specific consultations and provide detailed guidance on how to set up a business. They will also facilitate contacts with other government departments in the HKSAR, and provide introductions to prospective business partners.
Hong Kong's highly-skilled workforce, simple, low-cost tax regime, world class financial system and independent judiciary helped the territory attract the second-highest level of foreign direct investment in Asia last year, securing US$35.9 billion in FDI.
During the past three years, InvestHK has assisted 90 Mainland companies to establish or expand operations in the SAR. In 2005 alone, the department helped 38 companies. These projects included the opening of an Asia-Pacific headquarters by software company UFIDA, the establishment of a global strategy unit by electronics giant Haier, and a listing on the Hong Kong Stock Exchange by a leading Mainland wine producer, Dynasty Fine Wines.
Mainland firms have raised some US$144 billion through the HKSE since 1993.
The inauguration of InvestHK’s investment promotion team in Beijing is part of a broader campaign to woo Mainland firms. It will be followed later this year by the opening of similar facilities in Shanghai and Chengdu, and the expansion of an existing operation in Guangdong.
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