Paul Chan: Hong Kong enjoys the advantage of an internationalized platform, which can help enterprises go global and promote the integration of innovation and technology with industry.

On October 13, at the "Companion Flight for Mainland Enterprises Going Global" promotion conference in Nanjing, Hong Kong Financial Secretary Paul Chan Mo-po said that Jiangsu and Hong Kong have a deep foundation for cooperation in many areas, and there is broad room for development. As a springboard to the international stage and a platform that can support enterprises' long-term development, Hong Kong can work hand in hand with enterprises to help them go global. He said that Hong Kong is both Jiangsu's largest source of foreign investment and its largest destination for outbound investment. As of the end of September this year, 129 Jiangsu enterprises had listed in Hong Kong, with a market capitalization of about HK$1.44 trillion. Hong Kong can provide enterprises with an important platform connecting them to international capital. But Hong Kong's value goes beyond listing; it also lies in the high concentration of financial institutions, investors, and professional talent. Of the world's 100 largest banks, more than 70 have operations in Hong Kong. When enterprises come to Hong Kong, they can connect with international financial networks and seek funding and partners for business development at different stages. At the same time, Hong Kong's internationalized environment helps attract research personnel, engineers, and management talent from home and abroad to build globally oriented teams. To further connect talent, research, and industry, the SAR government is advancing the construction of the Northern Metropolis, including developing a university town, to promote the convergence of high-quality education and research resources from Hong Kong, the mainland, and overseas, and to drive coordinated development of education, technology, talent, and industry. He said that, taking healthcare and biotechnology as an example, the hope is to leverage Hong Kong's close ties with mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area to promote research collaboration, clinical studies, and industry matching, help enterprises connect more effectively with both the mainland and international markets, and shorten the distance from laboratory to product and from research to application. Paul Chan Mo-po also pointed out that for enterprises going global, they must both expand overseas markets and consolidate their mainland foundation. Hong Kong's unique value is precisely its ability to connect these two aspects. Hong Kong International Airport handles about 1,000 flight movements a day, connecting to places around the world. From Hong Kong, a flight range of about five hours can cover regions home to about half the world's population. This geographical and transportation advantage helps enterprises use Hong Kong as a base to connect with customers and partners in different markets. In addition, Hong Kong is also advancing a package of preferential policies to promote industry and investment, covering land arrangements, financial support, and tax incentives, among others, to create conditions for enterprises to establish operations. Hong Kong has always followed a simple low-tax regime. The general profits tax rates for corporations and unincorporated businesses are 16.5% and 15%, respectively. On this basis, the Hong Kong government has proposed that, through the preferential policy package, eligible enterprises be offered a half-rate or 5% concessionary tax rate to support the development of key industries. He said he hopes enterprises will bring technology, talent, and ideas, while Hong Kong provides capital, international networks, and a development platform. Together, the two sides can turn innovation into industry and opportunities into results.