Director of the Hong Kong Trade Development Council, Nicholas Kwan: Hong Kong government establishes special team to help mainland enterprises expand overseas and build a one-stop "Going Global" support platform.

On November 6, the Director of the Hong Kong Trade and Economic Development Bureau, Edward Yau, attended the "Hong Kong: the preferred platform for Mainland enterprises to go global" promotion conference in Shanghai and delivered a speech. Yau stated that under the principle of "one country, two systems", Hong Kong has unique advantages to provide systematic solutions for enterprises, serving as a base for Mainland enterprises to expand and manage their global business operations. In line with the national policy to encourage Mainland enterprises to go global, the Hong Kong SAR government established a special task force this year to coordinate and facilitate the internationalization of Mainland enterprises. Yau emphasized that there is a significant shift in the internationalization process of Chinese companies, with new production forces rapidly developing and Chinese companies moving towards brand building, ecological construction, and internationalization. Globalization helps these companies expand their customer base and enhance their competitiveness by overcoming geographical limitations and promoting products and services in different parts of the world. Yau pointed out several challenges that Mainland enterprises face when going global, such as difficulties in cross-border financial management, foreign laws and compliance requirements, cultural differences in overseas markets, and the acquisition of international talents. Addressing these challenges is crucial for the internationalization process of Mainland enterprises. Hong Kong, under the principle of "one country, two systems", can offer comprehensive solutions to Mainland enterprises as they go global. Hong Kong's advantages lie in its alignment with international markets, strong legal system, top professional service providers, and a pool of research talents, which can support Mainland companies in their product development and global expansion. To support the national policy of encouraging Mainland enterprises to go global and help them expand their international businesses through Hong Kong, the Hong Kong SAR government established the Mainland Enterprise Internationalization Task Force this year. The task force aims to provide a one-stop solution platform by coordinating resources across different government departments and agencies. The task force will focus on expanding networks, promoting cooperation, and providing practical support to Mainland enterprises, including services in taxation, law, financing, testing and verification, ESG (environment, social and governance), and intellectual property protection. Yau mentioned that this promotion conference is just the beginning and the task force will continue to organize events in different provinces of Mainland China to actively engage with Mainland enterprises and support their internationalization efforts. Yau concluded by expressing Hong Kong's commitment to assisting Mainland enterprises in going global with its unique advantages, strong legal system, open economic environment, and experienced team. Hong Kong is ready to work closely with Mainland enterprises to create a new chapter in globalization.