Invest Hong Kong (InvestHK) co-hosted a seminar entitled "Beijing and Hong Kong's cooperation in the Belt and Road Initiative" during the Beijing-Hong Kong Economic Cooperation Symposium in Beijing today (October 24), updating the business community on the opportunities Hong Kong has to offer, in particular in its professional services.
The Secretary for Commerce and Economic Development, Mr Edward Yau, also attended the seminar. Addressing the audience, the Director-General of Investment Promotion, Mr Stephen Phillips, said that the "one country, two systems" arrangement ensures that Hong Kong retains a series of enduring advantages, including a vibrant business environment, a robust legal system, world-class intellectual property protection and deep, world-class financial and professional services, plus the recently introduced two-tier tax system aimed at attracting businesses to set up in the city.
He added that Hong Kong also appeals to Mainland and foreign companies with a range of innovation and technology policy and support initiatives including a super tax deduction of up to 300 per cent for R&D expenditure and a new listing regime allowing pre-revenue biotechnology companies and innovative companies with weighted voting rights structures to list on the Hong Kong Stock Exchange.
Mr Phillips said Hong Kong's legal services and related infrastructure, as well as its branding, design and business consultancy services, are attracting Mainland Chinese and overseas companies.
In terms of the business opportunities Hong Kong has to offer amid the Belt and Road Initiative, he said, "You can leverage Hong Kong's world-class financial and professional services to structure and finance projects and mergers and acquisitions deals, and access the very best accounting and tax, legal, construction engineering design, management and project planning, and much more. And, of course, tap into Hong Kong's deep debt and equity capital markets. All underpinned by Hong Kong's common law system, which also makes Hong Kong a very suitable location for dispute resolution too."
Mr Phillips concluded, "I would strongly urge you to capture these exciting opportunities and make use of Hong Kong to realise your international ambitions."
About InvestHK
InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies enrolled as its clients. For more information, please visit www.investhk.gov.hk.
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