The first company relocation application in Hong Kong has been approved, and CNPC International Investment (Hong Kong) subsidiary has received the relocation certificate.

After the relocation system for Hong Kong companies took effect in May this year, the first approved company relocation application was completed today (October 22). PetroChina Investment (Hong Kong) Limited, a subsidiary of PetroChina International Investment (Hong Kong) Limited, received the relocation certificate issued by the Hong Kong Companies Registry. The company stated that relocating to Hong Kong not only helps to integrate the corporate structure and enhance operational efficiency, but also offers multiple benefits such as the simple tax system and high-quality professional services in Hong Kong. The Financial Secretary of Hong Kong, Paul Chan, expressed his gratitude to his colleagues at the Companies Registry for their efficient work. After collecting all the required documents and information from the applicants, the approval work was quickly completed within two weeks. The market's response to the relocation system has been very positive, with the Companies Registry receiving a growing number of company relocation applications and inquiries in recent months, reflecting the confidence of enterprises in Hong Kong's business environment. Paul Chan expects that there will be more successful cases in the future, and the Companies Registry will continue to actively assist companies interested in applying for relocation. Various relevant departments will also continue to promote the benefits of relocating to Hong Kong, including eliminating double taxation, in order to attract more companies registered outside of Hong Kong to relocate to the city.