Xu Zhengyu: Hong Kong continues to deepen professional services to empower mainland enterprises to go global and build an international financing platform.

On June 15th, Eddie Yue, the Commissioner for Financial Services and the Treasury in Hong Kong, met with the media at the "Hong Kong Financial Industry Supporting Mainland Enterprises to Go Global" luncheon and expressed that Hong Kong has always wanted to empower mainland enterprises to go global through professional and financial services. In addition to financing and financial services, Hong Kong actively expands its professional services, risk management services, and other services to better meet the needs of mainland enterprises going global. He mentioned that Hong Kong is the most internationalized financing platform in the country, an international financial center, and provides very comprehensive professional services to fully support enterprises. Firstly, in terms of financing, Hong Kong's capital market, especially in recent years, has become the world's leading IPO center. Mainland enterprises, including those from Zhejiang, are welcomed to list in Hong Kong. Currently, there are more than 140 Zhejiang enterprises listed in Hong Kong. The authorities will continue to promote more enterprises to utilize the advantages of Hong Kong's financing platform. Secondly, financing is not just about equity financing, but also includes bond financing. Hong Kong has been the top issuer of green bonds in Asia for several years, so mainland enterprises, including those from Zhejiang, are welcomed to issue not only conventional bonds but also green bonds in Hong Kong. Especially since Hong Kong is the largest offshore RMB hub in the country, they are welcome to issue RMB bonds in Hong Kong as well. Thirdly, besides financing, other professional services such as accounting, legal, etc., are also important. Hong Kong is a very comprehensive service center with many professional services leading globally. Organizations like the Hong Kong Institute of Certified Public Accountants, Hong Kong Venture Capital Association, Hong Kong Federation of Insurers, and Hong Kong Federation of Insurers can introduce mainland enterprises to a full range of professional services in Hong Kong so they can find the service providers they need when going global. Furthermore, Eddie Yue pointed out that for mainland enterprises going global, it is not only about planning well to earn more money but also about maintaining a bottom line. Hong Kong has very comprehensive risk management tools. For example, the government is now promoting the establishment of self-insurance companies in Hong Kong for enterprises to manage their risks through their own setup. This is meaningful for them as many mainland enterprises are already at the forefront in terms of productivity and risk control. By setting up their own insurance company, they can better manage their risks. In addition, mainland enterprises expanding their business globally need to manage increasing funds. The government is also promoting the establishment of financial centers in Hong Kong for these enterprises, basically an internal bank for the company to centrally manage and allocate their funds more efficiently. Hong Kong is the top choice for many enterprises as it is safe, stable, and provides excellent professional services for managing their funds. Eddie Yue also mentioned that the recent Central Asia Go Global delegation led by the Chief Executive has achieved substantial results. Nearly 100 agreements have been signed, and the total investment amount has exceeded HK$1.6 billion.