Home » Key Enterprises Settle and Expand Business in Hong Kong: Introduction Office Holds Signing Ceremony

Key Enterprises Settle and Expand Business in Hong Kong: Introduction Office Holds Signing Ceremony

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Key Enterprises Settle and Expand Business in Hong Kong: Introduction Office Holds Signing Ceremony

Hong Kong Government Holds Signing Ceremony for Key Enterprise Partners

The Hong Kong government recently held a signing ceremony with the first batch of key enterprises that have settled or expanded their business in the city. The ceremony, organized by the Office of Key Enterprise Introduction (Introduction Office), was attended by Chief Executive Lee Ka-chiu and Financial Secretary Paul Chan Mo-po.

According to Chan Mo-po, about 80% of the companies are from mainland China. However, the Hong Kong government welcomes companies from all over the world to start businesses and invest in Hong Kong. This signifies the city’s effort to attract global companies to stimulate economic growth and promote innovation and technology.

The government announced that 20 companies from both mainland China and overseas have become the first batch of key corporate partners. These companies operate in strategic industries such as life and health technology, artificial intelligence and data science, financial technology, and advanced manufacturing and new energy technology. Some of these companies will establish their presence in Hong Kong soon, while others are already operating in the city but plan to expand their business. Most of them are expected to set up research and development centers or regional business headquarters in Hong Kong.

The Hong Kong government predicts that these key companies will invest more than HK$30 billion in the city and create about 10,000 jobs in the next few years. These jobs will primarily be in scientific research and management positions, contributing to the development of the city’s innovation and technology ecosystem.

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During his speech at the ceremony, Financial Secretary Paul Chan Mo-po highlighted Hong Kong’s unique advantages, including its “one country, two systems” framework, common law system, rule of law, free flow of funds and goods, and a flourishing financial ecosystem. He emphasized that Hong Kong is the ideal springboard and platform for key enterprises to develop both mainland and international markets, particularly in Asia. He also mentioned the government’s efforts in promoting the development of the northern metropolitan area, which offers additional opportunities for key enterprises to thrive in Hong Kong.

Chief Executive Li Ka-chiu, in his speech, mentioned the establishment of the Introduction Office in his first Policy Address, which aims to attract representative and high-potential key enterprises from around the globe to Hong Kong. He expressed the government’s commitment to working with these companies to promote high-quality development and help Hong Kong become an international innovation and technology center under the “14th Five-Year Plan Outline”.

The signing ceremony was attended by more than 200 representatives from key enterprises, local and foreign chambers of commerce, scientific research institutions, relevant government bureaus/departments, and public institutions. It showcases the collaborative efforts of various stakeholders in bolstering Hong Kong’s economy and fostering innovation and technology.

Despite the positive reception, some netizens expressed skepticism about the contribution of these key enterprises to Hong Kong’s economy. Concerns were raised about the impact on the city’s international financial center status and the majority of companies being from mainland China. However, the government remains optimistic and is determined to harness the potential of these companies to drive economic growth and development in Hong Kong.

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Overall, the signing ceremony marks a significant step in the government’s efforts to attract global companies and promote innovation and technology in Hong Kong. With the support of these key corporate partners, the city aims to enhance its position as a leading international business hub and innovation center in the region.

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