FS begins visit to Hangzhou (17.4.2024)
17.4.2024

The Financial Secretary, Mr Paul Chan, began his visit to Hangzhou today (April 17). In Hangzhou, Mr Chan attended a seminar on Hong Kong serving as a multinational supply chain management centre for Mainland enterprises co-organised by Invest Hong Kong and the Hong Kong Economic and Trade Office in Shanghai of the Hong Kong Special Administrative Region (HKSAR) Government, as well as the Hong Kong Trade Development Council and the Hong Kong Export Credit Insurance Corporation. He briefed around 150 senior management staff of enterprises from different places of Zhejiang on the latest state of the Hong Kong economy and community. He also explained to them how Hong Kong could assist Mainland enterprises in developing their international businesses, particularly by serving as their centre for managing offshore trade and international supply chains. Mr Chan said that with changes in the international industry and supply chains, the continued advancement of the Belt and Road Initiative as well as deepening of trade partnerships among Regional Comprehensive Economic Partnership economies, and coupled with enterprises' own development needs, there will be a greater need for enterprises in Zhejiang and the Yangtze River Delta region to go global to grasp the enormous business opportunities. To prevail in this international game, and make contributions to the dual circulation development of the country, enterprises face both challenges and opportunities in logistics and transport, marketing and sales, investment and establishment of factories, overseas merchandising as well as compliance. Hong Kong's professional and high value-added services, and its broad commercial and people-to-people networks can help them achieve greater success. Mr Chan also pointed out that with the staunch support of the country, Hong Kong possesses a number of advantages: institutional advantages under the "one country, two systems" principle; smooth flow of international capital; convergence of talent with an open and inclusive attitude; great geographical location with convenient access to the world; robust professional services alignment with international standards; as well as a safe and vibrant metropolitan life. He added that Hong Kong people are familiar with international rules and practices, and could create much value for Mainland enterprises in opening up their international business. The HKSAR Government welcomes them to establish regional headquarters in Hong Kong for managing offshore trade, and will proactively provide one-stop services to them, such as supply chain management, trade financing, consulting, and talent and corporate training. Mr Chan also visited three innovation and technology enterprises mainly engaging in smart Internet of Things, artificial intelligence, big data; biomedical technology, new materials and smart manufacturing; and virtual reality equipment and products. Mr Chan exchanged with the representatives of these enterprises to understand their latest technology and products, solutions, and plans of development. Mr Chan introduced to them Hong Kong's latest policy initiatives in attracting businesses and talent. Mr Chan encouraged the three enterprises to make good use of Hong Kong's advantages, including its fund-raising platform and the free flow of factors production, convergence of talent and world-class professional services, and establish their foothold in Hong Kong for expanding their international business. In the afternoon, Mr Chan had lunch with Hong Kong people and representatives of Hong Kong enterprises in Zhejiang to learn about their business operations, work and daily lives. Mr Chan also had dinner with representatives of a group of Zhejiang enterprises in the evening to exchange the latest developments in Hong Kong and Zhejiang. He also shared about Hong Kong's business environment, and the outlook and potential for business development in Hong Kong. Mr Chan will continue his visit to Hangzhou tomorrow morning (April 18) and then proceed to Suzhou at around noon time. Ends/Wednesday, April 17, 2024 Issued at HKT 22:15 NNNN