The International Gemological Institute (IGI), one of the world's foremost authorities independent certification and valuation of gemstones and fine jewelry, will open an identification and grading laboratory in Hong Kong in November.

Marc Brauner, IGI's worldwide chief laboratory officer, said, "Hong Kong is not only the most important trading center in the region, but also a model city for the mainland and the major diamond and jewelry trading platform in the Asia Pacific region. That is why we strongly believe everything has to start from Hong Kong."

The latest survey conducted by the Census and Statistics Department of the Hong Kong Special Administrative Region government shows the number of regional headquarters and regional offices in Hong Kong reached all-time highs this year, a clear sign that transnational companies see Hong Kong as the ideal base to oversee their regional operations.

According to the survey, as of June 1, Hong Kong had housed 1,098 regional headquarters and 2,511 regional offices of companies incorporated outside Hong Kong. The corresponding numbers at the same period of 2003 were 966 and 2,241, respectively.

Macquarie Bank Limited, Australia's largest independent investment bank, recently expanded its Hong Kong operations with the launch of Macquarie Securities, following the acquisition of acompetitor's cash equity business.

The launch enables Macquarie Group to tap Asian investors, as well as to support key corporate clients. Head of Investment Banking, Nicholas Moore, said the expansion would give the group critical mass in institutional broking in the region.

"The focus for Macquarie Securities is to strengthen the existing Asian equities platform, add more facets to the business and bring clients an even wider range of innovative products," said Moore.

"Hong Kong is a regional base for our operations in the Asian market," explained Steven Lu, director of Macquarie's Corporate Communications for Asia.

"Hong Kong offers us a world standard of infrastructure for thefinancial sector in communications, availability of related professions, media and multiculturalism. It also has an accommodating corporate taxation regime, a stable currency and regulatory regime, and a mature legal system," Lu said.

"Its proximity to the Chinese mainland and the ability to reachany Asian destination within a 5 hour flight are added advantages," added Lu.

Invest Hong Kong's Director-General of Investment Promotion Mike Rowse said Hong Kong's traditional advantages, including a simple and low tax regime, absence of exchange controls and free flow of information, keep Hong Kong competitive among neighboring markets in Asia.

He said "we notice a trend of mainland enterprises setting up operations in Hong Kong as a springboard to expand business overseas. The new investment facilitation policy announced by the Ministry of Commerce will encourage more mainland enterprises to invest in Hong Kong."

China's largest shipbuilding company, China Shipbuilding Industry Corporation (CSIC), recently set up its regional office in Hong Kong to oversee the South East Asian markets. Registered as China Shipbuilding and Offshore International (HK) Co. Ltd., the new Hong Kong operation is wholly-owned by CSIC's subsidiary China Shipbuilding and Offshore International Co. Ltd. (CSOC).

The chairman and president of China Shipbuilding and Offshore International (HK) Co. Ltd., Xu Ziqui, said that Hong Kong's shipping sector has played a very important role in the development of shipbuilding industries in China.

With the closer economic relationship between Hong Kong and themainland in recent years, shipping-related businesses between the two places have intensified. In particular, the number of shipbuilding and repair contracts for mainland shipbuilders from Hong Kong vessel owners has increased substantially, said Xu.

According to Xu, the new regional office in Hong Kong will playa key role in providing responsive and timely services to customers in Hong Kong and South East Asia. The office will also be responsible for providing detailed market analysis, to allow the management to plan strategies for future business expansion.

"Hong Kong is one of the world's largest trading and shipping centers. With its strategic location in the heart of Asia, the Hong Kong office will play a key role in connecting the company's network in the region. The new office will also enable us to operate more closely with the Hong Kong shipping sector to tap thehuge business opportunities brought along by the rapid economic growth in the mainland," he noted.

"We are very excited about our expansion in Hong Kong. We believe that advantages of Hong Kong combined with the solid foundation of our company will strengthen our competitiveness in the global arena," he added.

Source: Xinhua