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| Invest Hong Kong joined with
the Bureau of Foreign Trade and Economic Co-operation of Guangzhou Municipality
to hold an investment seminar for Japanese businessmen today (September 20) in
Tokyo. The purpose of the seminar was to introduce the advantages Hong Kong and Guangzhou - separately and jointly - can offer to Japanese companies as an investment destination following China's accession to the World Trade Organisation. Named the "Hong Kong - Guangzhou Investment Environment Seminar", it was the first overseas investment promotion event jointly organised by the Hong Kong Special Administrative Region Government and a Government body of the Mainland. It was co-organised by the Hong Kong Economic and Trade Office in Tokyo. The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr John Wan, led the Hong Kong team to Tokyo.He explained: "The event was part of Invest Hong Kong's efforts to promote closer co-operation between Mainland and Hong Kong in publicising the business opportunities in the Pearl River Delta." He pointed out that Hong Kong, as an international financial centre with a clustering of professional services, is a springboard for Mainland enterprises to "go overseas". He said: "We are also the Gateway to China, providing all the necessary expertise and partnership to foreign firms for exploiting the opportunities in the growing Mainland market. "Mr Wan said: "Japan has a large manufacturing sector and industry experts estimate that a significant portion will move overseas in the next five to 10 years. China has already attracted a substantial number of Japanese manufacturing companies. This trend is expected to increase in the future." "Hong Kong and Guangzhou aim to encourage and facilitate Japanese enterprises to set up manufacturing facilities in Guangzhou, and regional headquarters or 'beachheads' in Hong Kong to control or manage their China operations," he added. The seminar was attended by 160 representatives from over 100 Japanese companies, mainly from the IT, automotive components manufacturing and trade, technology, tourism, entertainment, financial services and transportation sectors. The Director-General of the Bureau of Foreign Trade and Economic Co-operation of Guangzhou Municipality, Mr Chen Mingde, briefed participants about the latest developments and investment environment in Guangzhou.Mr Chen said: "Foreign investment in Guangzhou has been active since the beginning of this year. Investors have focused on automobiles and components, mechanical equipment, textiles and fashion, petrochemicals, electronic telecommunications and plastics in the manufacturing sector. The British Virgin Islands and Hong Kong are the leading investment countries/territories in China, and Japan ranks third. In the first half of 2002, Japan invested a net total of US$81.27 million in 11 projects in Guangzhou, mainly in automotive components and commercial logistics." Mr Chen listed seven main reasons why Guangzhou is attractive to Japanese investors: * Solid industrial fundamentals, * Strong technological research and development capability and abundant human resources, * Position as the communications centre of land, sea and air transport in southern China, * Attractive city for living and developing new businesses, * Improving soft infrastructure in investment environment, * Has formulated objectives for long term economic development in a scientific way, and * Good prospect for the Guangzhou market, and stronger purchasing power. Mr Chen continued, "The Pearl River Delta is now one of the most economically vibrant regions in China. It is China's largest manufacturing base and merchandise collecting and distributing centre. As the city of Guangzhou is located in the centre of the Pearl River Delta, her locational advantages as well as radiation and focal effects are becoming increasingly apparent." Also speaking at the seminar, the Principal Hong Kong Economic and Trade Representative in Tokyo, Mr Alex Fong, said that following China's accession to the WTO, Hong Kong saw a second wave of Japanese companies setting up operations in China, making use of Hong Kong as the platform and hub to integrate their business activities in China and the region. Mr Fong noted that the first wave started following the opening up of China in 1978 and involved the big companies. The companies involved in the second wave were small and medium sized companies and they were following the big companies into the China and Hong Kong markets, he said. "The Invest Hong Kong Japan Unit, which is located in the Hong Kong Economic and Trade Office in Tokyo, provides support services to companies interested in making a success out of their business ventures through the Japan-Hong Kong-China partnership," Mr Fong added. The seminar also included presentations by the Deputy General Manager of Marubeni Hong Kong & South China Ltd, Mr Masumi Mizuno, who shared Marubeni's experience in investing in Hong Kong and Guangzhou, and by the Senior Manager of Tohmatsu & Co, Mr Tomoyasu Maruyama, on the procedures for setting up an operation in Hong Kong and Guangzhou. Invest Hong Kong is a one-stop shop for foreign investors who are interested in doing business in Hong Kong. This HKSARG department gives specific advice to overseas companies that are considering expanding their operations into Asia, and explains to them the advantages Hong Kong has to offer. The Bureau of Foreign Trade and Economic Co-operation of Guangzhou Municipality provides professional services for enterprises outside Mainland China which are investing in the city. End/Friday, September 20, 2002 |
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