Hong Kong investment officials on Sunday urged mainland companies to make use of the special administrative region's advantages as they prepare to go abroad and explore the international market.
"Our city is an excellent testing ground for mainland companies to 'go global' and access the world market," said Victoria Tang, associate director-general of Invest Hong Kong, a body under the SAR government charged with promoting investment.
She added that the Hong Kong SAR Government is committed to offering a business-friendly environment, an open economy, world-class infrastructure, a low and stable tax regime, and professionals equipped with an international perspective and knowledge of the Chinese mainland market.
"On the back of the country's economic growth and the national policy of encouraging enterprises to go global as stipulated in the 12th Five-Year Plan (2011-15), many mainland enterprises have plans to expand overseas," Tang said.
She said that Hong Kong has many resources to help mainland companies globalize, including international marketing networks, world-class financial markets, and free flows of capital and information.
"It offers a wide range of quality professional services in financing, law, accounting, insurance, brand marketing and so on, which highlight the strengths of Hong Kong in assisting mainland investors to expand their businesses overseas," Tang said.
Yang Yi, head of the Hong Kong commerce office, said that Hong Kong will be "an important platform for mainland enterprises to join hands with HK counterparts and explore international markets, which will significantly enhance the competitiveness of mainland companies".
In late August, the mainland and Hong Kong signed the 10th supplement to the Closer Economic Partnership Arrangement, or the CEPA. Established 10 years ago, it was most recently enlarged to include more sectors, Yang said.
He added that the CEPA plays a very important role in maintaining the city's prosperity and encouraging mainland enterprises to invest.
"More than half of the mainland's outward investment in overseas markets was through Hong Kong," Yang said.
By the end of June, Hong Kong accounted for 46.9 percent of the stocked non-financial foreign direct investment in the mainland, while 59.7 percent of the mainland's total outbound direct investment was destined for Hong Kong, Yang said.
