I guessed the start ,but i did't guess the end.
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Invest Hong Kong opened a service center in Shanghai yesterday to promote Hong Kong as a business location and to support mainland firms wanting to set up operations in the city.
Established by the Hong Kong Special Administrative Region government, Invest Hong Kong also has offices in Guangzhou and Beijing, and plans to open a Chengdu office on March 28, according to Mike Rowse, its director-general of inward investment.
The Shanghai office will provide a range of free services to companies in Shanghai and four provinces Zhejiang, Jiangsu, Anhui and Hubei.
"A large presence in Shanghai is a logical response to the rapid growth in demand for our services from companies in the Yangtze River Delta region," Rowse said yesterday at the opening ceremony of the Shanghai center.
"We want to promote Hong Kong's advantages to the local business community, and attract companies that have competitive advantages and economic value to invest in Hong Kong," he added.
The Shanghai center will be staffed by four inward investment professionals, and will provide services, including market research, advice on office rentals, staff hiring, visa issues and networking opportunities.
A total of 282 mainland companies invested a combined US$2 billion in Hong Kong in 2006. Mainland accounted for 17 percent of Invest Hong Kong's completed projects for 2006.
About 367 mainland companies have already listed on the Hong Kong stock exchange main board and Growth Enterprise Markets. These companies raised US$49.3 billion in 2006, up 94 percent from 2005.
"Mainland companies are attracted by Hong Kong's international business environment, attractive tax rates and fundraising capabilities," said Rowse.
"Over the past three years, we've helped more than 110 mainland companies and the trend is for this to increase substantially over the next five years," said Rowse.
The inflow of investment to Hong Kong from January to September in 2006 amounted to around US$29.6 billion yuan, up 21 percent from 2005. As mainland companies' interest in Hong Kong continues to rise, the city is also becoming the largest investor on the mainland.
(China Daily March 15, 2007)
