Secretary for Commerce and Economic Development Edward Yau: Hong Kong will continue to enhance its advantages in internal and external connectivity and promote Mainland enterprises to go global.

On November 6, John Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region, stated that in the process of mainland enterprises going global, they need a significant amount of capital and professional services support, as well as an international business platform that allows products and technologies to align with international standards and effectively meet the demands of overseas markets. In the future, Hong Kong will continue to strengthen its dual role as a "super connector" and a "super value-added partner," becoming the best platform and partner for mainland enterprises going global. John Lee Ka-chiu pointed out that globally, unprecedented changes are accelerating, geopolitical situations are unpredictable, and international supply chains are disrupted. The country is implementing a high-level strategy of opening up in both directions, encouraging mainland enterprises to "go global," utilizing mainland production capacity effectively while also supporting the economic and social development of the regions they enter. In 2024, China's outbound direct investment exceeded $190 billion, with an annual growth rate of over 8%, including a nearly 40% increase in investment in ASEAN and over 20% growth in investment in countries participating in the "Belt and Road Initiative." These figures reflect the accelerating trend of mainland enterprises going global. Establishing supply chains and industrial chains in these global southern markets is not only a general trend but also an inevitable choice for growth. The southern regions boast significant population dividends and, as their markets mature, consumer demand is eagerly awaiting to be unleashed. Their market demands align well with China's comprehensive supply chain capabilities, making them a new blue ocean for mainland enterprises going global. Under the principle of "one country, two systems," Hong Kong possesses the advantages of internal connection and external communication, serving as an international financial, shipping, and trade center. Hong Kong offers world-class professional services, aligns with the common law system of major global financial centers, features a simple and transparent tax system, no tariffs or capital gains tax, a well-connected logistics network, a highly international and marketized business environment, and attracts global funds and talent. John Lee Ka-chiu stated that Hong Kong is the world's freest economy, ranking first, continuously expanding its economic and trade networks. In addition to consolidating relationships with traditional economies, it also focuses on expanding into emerging markets such as ASEAN, the Middle East, and countries participating in the "Belt and Road Initiative," providing momentum for enterprises going global. Hong Kong has signed free trade agreements with 21 economies and investment promotion and protection agreements with 33 economies. It will expand the network of economic and trade offices overseas, with the latest office in Kuala Lumpur, Malaysia set to operate by the end of the year. The coverage of global economic and trade offices will be expanded to deepen localized economic and trade promotion efforts. Hong Kong will continue to promote multilateral trade, including striving to join the Regional Comprehensive Economic Partnership agreement as soon as possible. Last week, at the Asia-Pacific Economic Cooperation meeting in South Korea, leaders met with different economies and international organizations to enhance relations, drive free trade, and economic integration. The Hong Kong Special Administrative Region government will continue to visit different countries and regions to promote Hong Kong's advantages and opportunities. In May of this year, a delegation of Hong Kong and mainland business representatives visited Qatar and Kuwait to introduce the vast opportunities for national development in the Middle East region. This resulted in the signing of 59 cooperation memoranda and agreements covering various areas such as economy, finance, technology, law, aviation, and education. Some mainland enterprises in the delegation chose to establish in Hong Kong as their international headquarters, financial, and research centers to develop cross-border business. One mainland enterprise has successfully gone public in Hong Kong. In order to better serve mainland enterprises going global, the "Policy Address" released in September proposed the establishment of a one-stop platform specializing in assisting mainland enterprises going global, actively attracting companies interested in expanding their overseas business to use Hong Kong as a platform for international expansion. The platform was established earlier last month and has already begun operations. Hong Kong will continue to actively align with national strategies, working with the mainland to create a new chapter of cooperation and mutual benefit.