HKSAR to Strengthen Service Center Role in Regional Trade

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Last updated at: (Beijing Time) Tuesday, August 20, 2002

HKSAR to Strengthen Service Center Role in Regional Trade

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The Hong Kong Trade Development Council (TDC) said the Hong Kong Special Administrative Region (HKSAR) will concentrate on playing the role of a service center in the swelling Guangdong-Hong Kong-Taiwan trade.

Frederick Lam, deputy executive director of the TDC made the remarks Tuesday at a news conference to announce details of the Guangdong-Hong Kong-Taiwan Economic Cooperation Forum to be held on Aug. 27.

"In the wake of China's entry into the World Trade Organization (WTO), Taiwan investors are bent on targeting high-tech and capital-intensive industries in Guangdong. In the midst, Hong Kongcan supply the necessary financial, logistical and commercial support services to Taiwan. By so doing, Hong Kong will also serveto reinforce its role as a platform in Guangdong-Taiwan trade," he said.

According to a latest survey conducted by the TDC, most of the current Taiwan investors in Guangdong have been making frequent use of Hong Kong SAR's services to manage their finances, foreign exchange remittances, purchasing and distribution. Some have even set up their warehouses in the Hong Kong SAR to conveniently supply raw materials to their factories on the mainland.

Lam predicted that the number of such investors is expected to swell in the time to come.

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