HK to create better environment for business

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Last updated at: (Beijing Time) Friday, November 28, 2003

HK to create better environment for business

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The Hong Kong Special Administrative Region (HKSAR) government is making efforts to improve government service and reduce unnecessary regulations on business and trade to create a better and more convenient environment for business in the region.

Secretary for Commerce, Industry and Technology John Tsang Chun-wah made the remarks at a symposium on opportunities to be broughtabout by Chinese Mainland/Hong Kong Closer Economic Partnership Arrangement (CEPA).

He said the measures are to be taken to maintain a steady growth of Hong Kong economy.

Tsang said the HKSAR government will try to obtain more preferential conditions for Hong Kong businessmen and urged businessmen to utilize the rare opportunities and make timely decisions on investment in trade.

He called on Hong Kong businessmen with rich international trade and businesses experience and business links with the Chinese mainland to seek the opportunities to be brought about by CEPA.

He said CEPA is just a beginning, the HKSAR government and the central government would discuss further opening of trade and service sectors later.

Many Chinese mainland companies have established offices in Hong Kong, taking Hong Kong as a bridge for entering into the international market, the official said.

He stressed that the signing of CEPA will help strengthen Hong Kong's status as international financial, information, logistics center.

He expected that more famous Chinese mainland companies would settle down in Hong Kong with ventures producing high value added products or products with intellectual property rights.

He added that the establishment of more high-value added products factories can help restructure Hong Kong's industry.

Tsang also welcomed foreign companies to tap the CEPA opportunities. He said foreign investors and businessmen can choose different ways of cooperation or investment with their HongKong partners, in a bid to expand their business in the Chinese mainland.

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