Hong Kong Commerce and Economic Development Bureau: The"Going Global" Special Team uses a three-step strategy to accurately assist mainland companies in going global.

On July 22, the Secretary for Commerce and Economic Development of Hong Kong, Edward Yau, pointed out in his speech at the "Global Connection of General workers: New Journey Health Technology Group, Creating Opportunities" forum that under the principle of "one country, two systems", Hong Kong has the unique advantage of being backed by the motherland and connected to the world. As one of the most free and competitive economies, the only place in the country where common law is implemented, the largest offshore RMB business and cross-border wealth management center, Hong Kong has a highly open business environment, connects to the international financial system, provides first-class professional services, and has a large number of high-end talents. It has the ability to assist mainland companies in setting sail through Hong Kong. Yau mentioned that the rapid changes in the global trade landscape, the restructuring of global supply chains, continuous geopolitical changes, and the variable world economic outlook have forced companies at home and abroad to find more stable and reliable business platforms to deal with changes. Hence, mainland companies often say "if you don't go global, you will be out of the game." For Hong Kong, the new changes in the global economic and trade landscape are both challenges and golden opportunities to demonstrate the value of Hong Kong as a "super connector" and a "super value-added person". To better support mainland companies in going global, a special task force for mainland companies to go global led by Yau was established at the end of last year. Operating in a cross-bureau, cross-department, cross-institution model, it assists companies in using Hong Kong as an important platform to expand international markets and builds Hong Kong's ecosystem for going global. The task force is adopting a three-step strategy to accurately assist companies. The first step is to actively attract high-potential mainland companies to Hong Kong. Since its establishment, the task force has held more than a dozen events in Hong Kong and mainland provinces and cities, reaching out to over 4,000 business representatives, introducing the advantages of going global through Hong Kong, and successfully assisting over 200 mainland enterprises in setting up or expanding their businesses in Hong Kong. The second step is to assist companies already established in Hong Kong in preparing to go global, setting up businesses including regional headquarters and financial centers in Hong Kong, and constructing the necessary business frameworks and financing arrangements for going global. In addition, in April of this year, the task force set up a cross-disciplinary professional service electronic platform, selecting over 200 Hong Kong professional service providers with experience in serving mainland companies and international networks, providing eight categories of professional advice including legal, financial, accounting, testing and certification, and marketing. The third step is to leverage Hong Kong's international network to help companies expand their businesses abroad. The task force is utilizing the synergies of the SAR government's overseas economic and trade offices, InvestHK, and the Hong Kong Trade Development Council's overseas offices to assist companies in opening up overseas markets. The task force also organizes outbound inspection tours to help mainland companies explore new business opportunities in overseas markets. In the future, senior officials of the SAR government will continue to lead mainland companies to visit different markets and expand into emerging markets in the global south and the "Belt and Road" initiative. Yau emphasized that promoting the "going global" economy not only helps Hong Kong integrate and serve the national development agenda but also injects new vigour into Hong Kong's different professional and business services, as well as the overall economy. It is an important strategy for nurturing new growth points in Hong Kong and enhancing long-term competitiveness. Faced with new circumstances and opportunities, it is crucial to actively leverage Hong Kong's advantages and work together with the business community to support more companies in establishing a foothold in Hong Kong, expanding globally, creating new opportunities in challenges, and creating new opportunities amidst changes.