An investment promotion seminar entitled "Hong Kong and Foshan: Your Ideal Partnership in China" was held in Osaka, Japan Wednesday, a government press release said.

Jointly organized by Invest Hong Kong of the Hong Kong Special Administrative Region (HKSAR) government and Foshan government, about 200 senior Japanese business executives received the latest update on the business environment and opportunities in Hong Kong and Foshan at the event.

According to the press release from the Information Services Department of HKSAR government, the seminar aimed to provide the Japanese business community with practical tips on how to make the best use of Hong Kong as the most effective gateway to the Chinese mainland.

Hong Kong Director-General of Investment Promotion Simon Galpin emphasized the synergy between Hong Kong and Foshan. "The Hong Kong - Pearl River Delta (PRD) integration has greatly contributed to the prosperity on both sides. Many foreign companies have found it very effective to perform their management functions in Hong Kong while placing their manufacturing facilities in the PRD including Foshan, one of the fastest growing cities in the Chinese mainland," he said.

"Hong Kong and Foshan together present a winning formula for Japanese companies to take advantage of the numerous business opportunities in the Chinese mainland China," Galpin added.

Over the years, Hong Kong has established close trade and economic ties with Japan. Between 2004 and 2008, the average annual growth rate in bilateral trade was 3.6 percent. In 2008, Hong Kong re-exported 37.1 billion U.S. dollars worth of goods from the Chinese mainland to Japan, representing 13.9 percent of the total trade between Japan and the Chinese mainland.

"Since our establishment in 2000, Invest Hong Kong has assisted over 200 Japanese companies in setting up or expanding their business presence in the city. Japan is one of our key target markets. We shall continue to encourage Japanese companies to use Hong Kong as a springboard for entry into the mainland market," Galpin concluded.

During the seminar, top management and professional specialists presented case studies and provided free advice on a wide range of business issues in the Chinese mainland including taxation, procedures in setting up a company and protection of intellectual property.

Source: Xinhua