Monday, July 4, 2011
Hong Kong’s Chief Executive Donald Tsang has hosted a cocktail reception, attended by about 350 top executives at an annual event of Invest Hong Kong, to thank the overseas and Chinese investors that have set up or expanded in the city during the past year.
The investors’ presence in Hong Kong was said to be a testimony, not only to its accumulative business potential, but also to the strengths that underpin Hong Kong's development as Asia's world city. Addressing the audience, Tsang said: "Over the past decade, the value of our trade in goods and services has grown by 104%. Air cargo is up 153%. Port cargo by 36%. The capitalization of our stock market has increased more than four-fold."
He pointed to Hong Kong’s other key aspects. "These include our common law legal system underpinned by an independent judiciary, zero tolerance of corruption, freely convertible currency, low tax regime, free flow of information and liberal immigration policies. We are committed to maintaining these business-friendly advantages.”
"I am delighted that the number of overseas and Mainland-owned regional operations here continues to grow,” Tsang added. “I am also proud of our record of attracting foreign direct investment (FDI). A staggering HKD535bn (USD69bn) of FDI was invested here last year. It represents a 32% increase over 2009."
Invest Hong Kong’s Director-General of Investment Promotion, Simon Galpin, maintained that "it is very encouraging to see that we have already assisted 198 overseas and Mainland companies to set up or expand their business operations in the city in the first half of 2011, which is an all-time high since the establishment of the department in July 2000.”
"Geographically, in the first half of 2011 the number of completed investment projects from Asia Pacific, Europe and North America, respectively, accounted for 44%, 33% and 19%. Mainland China is the single largest market by source of these completed projects, followed by the US, Japan and the UK."