HONG KONG - Jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Ministry of Commerce of the People's Republic of China (MOFCOM), the China Investment Policy Seminar 2016 was held today (18 March) at the Hong Kong Convention and Exhibition Centre. During the seminar, Liu Haiquan, Assistant Minister of Commerce, of the People's Republic of China, together with other officials from MOFCOM and a representative from the People's Bank of China updated the local business community on the mainland's latest investment policies. They also fielded questions from Hong Kong businesspeople on the problems they encounter when investing on the mainland. Gregory So, Secretary for Commerce and Economic Development of the HKSAR Government and Margaret Fong, Executive Director of the HKTDC also spoke at the event.
Huge growth potential
In his keynote speech, Assistant Minister Liu said: "The mainland economy absolutely has the basis and conditions of realising a medium-to-high growth rate of 6.5 per cent or above. As the mainland is still undergoing industrialisation and urbanisation, resources are being continuously diverted from low-efficiency sectors to high-efficiency ones, so the potential for economic growth is still huge. Given also that consumer spending on the mainland is entering an upward trend and industries are entering a transformation stage, new hotspots in consumption and investment are turning up continuously."
He pointed out that the Central Government's policies for utilising foreign capital not only have to be based on its own needs to achieve transformation and liberalisation, but also on adapting to new trends in transnational investments. China, he said, will have to coordinate closely its use of foreign capital with the transformation of its economic development model and the adjustment of its economic structure. On top of that, the country will have to pay more attention to bringing in advanced technologies, management experience and high-calibre personnel. In order to remain an attractive destination for foreign investment, the mainland will create an open and transparent legal environment, an efficient administrative environment and a level market environment, Mr Liu added.
Important role for Hong Kong services
In her opening remarks, Ms Fong said: "While Hong Kong is the mainland's largest source of foreign direct investment, it also acts as a "super-connector" in helping to bring in foreign capital to the mainland. One of the key focuses of the 13th Five-Year Plan is to facilitate the growth of new industries by driving development under the Belt and Road Initiative; stepping up infrastructure construction and fostering technological innovations. In doing so, Hong Kong's services in finance, construction, urban greening, property management, logistics and e-commerce can play an important role and participate in various investment areas."
Key Hong Kong-mainland topics analysed
A number of important themes were discussed during the China Investment Policy Seminar, including: "Mainland-Hong Kong Collaboration under the Belt and Road Initiative", "Developments Related to the Mainland's Free Trade Zones", "Updates on Measures Related to Trade in Services under CEPA" and "Developments in the Mainland's Financial Liberalisation". Guest speakers included Gao Shangde, Director General of the Department of Foreign Investment Administration, Ministry of Commerce; Li Jigang, Deputy Director-General of the Comprehensive Department, Ministry of Commerce; Kang Wen, Deputy Director-General of the Department of Taiwan, Hong Kong & Macao Affairs, Ministry of Commerce; and Dr Ding Kang, International Department of the People's Bank of China.
The China Investment Policy Seminar has been jointly organised by the HKTDC and MOFCOM since 1994. Since its authoritative content is useful in helping Hong Kong companies understand the rationale behind the mainland's economic development as well as the latest investment policies and direction, the event is keenly followed by Hong Kong's business sector. Co-organisers of the seminar this year include the Chinese Manufacturers' Association of Hong Kong, the Hong Kong Chinese Enterprises Association, the Federation of Hong Kong Industries, the Hong Kong General Chamber of Commerce and the Chinese General Chamber of Commerce.
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A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and services providers. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in overseas markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.
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