Tsang Showcases Pearl River Delta Investment Opportunities To German Audience

by Mary Swire, Tax-News.com, Hong Kong

01 November 2004

Hong Kong's Chief Secretary for Administration, Mr Donald Tsang, told a German business audience last week that the new Pan-Pearl River Delta co-operation initiative would open up many new opportunities in Hong Kong for overseas investors.

Delivering the keynote speech at a luncheon in Berlin co-organised by the Hong Kong Trade Development Council and the Hong Kong Economic and Trade Office Brussels, Mr Tsang said the Pan-PRD, or '9+2' economic grouping - which brings together China's nine southern provinces, Hong Kong and Macau - would create a market with the population of the European Union.

Mr Tsang told the audience:

"With 9+2, Hong Kong's economic catchment area expands more than five-fold, from the PRD to cities like Fuzhou in Fujian Province, Changsha in Hunan, and Chengdu in Sichuan. These cities will become increasingly important manufacturing and consumer centres as the PRD moves up the value chain."

“Hong Kong is already the biggest investor in this region, and the preferred place for Mainland companies to raise funds. Undoubtedly, Hong Kong will be the leading financial and services hub for this huge and rapidly developing region of 9+2.”

“All of this activity in our part of the world creates a new era of opportunity for German companies. You can take advantage of CEPA to enter the Mainland market. You can use Hong Kong as your base for doing business in the Pan-PRD, or indeed anywhere in the Asia-Pacific region.”

A record 3,600 overseas firms had set up regional headquarters or regional offices in Hong Kong as of June 2004, a figure which included 202 German companies, Mr Tsang noted.

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