Invest Hong Kong (InvestHK) held an investment promotion seminar in Hohhot, Inner Mongolia Autonomous Region, today (August 13) to update local enterprises on Hong Kong’s business environment, tax and financing advantages and encourage them to expand their business globally via the city.
The seminar, entitled “Belt & Road, Together We Grow”, was jointly organised by InvestHK and the China Council for the Promotion of International Trade Inner Mongolia Autonomous Region Committee .
Associate Director General of Investment Promotion Mr Vincent Tang and the Vice Chairman of the People’s Government of Inner Mongolia Autonomous Region, Ms Ai Lihua, delivered welcome remarks at the event.
Mr Tang told the seminar about how Inner Mongolia Autonomous Region enterprises leverage Hong Kong’s business advantages to “go global”.
He said, “The economic development of the Inner Mongolia Autonomous Region has grown rapidly. Many local enterprises have already set up their business in Hong Kong, using the city as their international platform to ‘go global’.
Hong Kong plays an important role in the Belt & Road Initiative. Inner Mongolia Autonomous Region enterprises can leverage the city’s international financial platform and professional services to expand overseas and structure finance projects. Hong Kong has well-developed and mature financial infrastructure, free flow of capital and diverse finance channels.
The city is the world’s largest offshore Renminbi centre as well as the leading asset management hub in Asia. Inner Mongolia Autonomous Region enterprises can make use of the diversified professional services to access the very best accounting and tax, legal, product design, engineering management and project planning services and much more, expanding their business along the Belt & Road development.
” He also told the audience that the Hong Kong Government has introduced various policies and measures to boost innovation and technology development. It has also introduced tax incentives to promote local research and development (R&D), encouraging private enterprises to undertake more R&D activities. The Senior Manager of the Northern China Unit of InvestHK, Mr William Ren, further elaborated on Hong Kong’s advantages and how Mainland enterprises can capitalise on the city’s business services to “go global”.
The Partner, Tax and China Business Advisory Service of PwC Ltd, Ms Cathy Jiang, and the Assistant Vice President of Global Issuer Services, Hong Kong Exchanges and Clearing Limited, Ms Wang Xiaofang, talked about how to make use of Hong Kong’s taxation advantages to capture opportunities amid Belt & Road Initiatives, as well as the reasons to list in the city and the latest developments of the Hong Kong securities market.
The Immigration Officer of the Office of the Government of the Hong Kong Special Administrative Region (HKSAR) in Beijing, Mr Jim Chin, explained to the audience the work visa arrangements for Mainland enterprises.
The Hong Kong Business Manager, Overseas Sales Region, Sales System of Inner Mongolia Mongniu Dairy (Group) Co Ltd, Mr Bai Huaifu, also spoke on his company’s experience on how to tap the opportunities arising from the Belt & Road Initiative for internationalisation via Hong Kong.
InvestHK is the department of the HKSAR 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.