HK rolls out the welcome mat
By Wang Yanlin |
August 1, 2012, Wednesday
|
Print Edition
Print Edition
HONG Kong is trying to lure Shanghai consumer goods companies and retailers to set up or expand their businesses in the special administrative region to tap overseas markets.
Simon Galpin, director general of InvestHK, said yesterday at a seminar in Shanghai that the region has many strengths including a level playing field, low tax rates and less strident regulation.
"Hong Kong has a high level of freedoms in terms of capital and information flows and a business friendly environment," Galpin said.
"Its pool of diversified professionals, world-class infrastructure, independent legal system, plus its low and stable tax regime make it a favorable testing ground for companies in Shanghai and other parts of the mainland to expand their overseas markets and go global," Galpin added.
High-end consumer goods are more likely to be successful in Hong Kong, but Galpin suggested companies of different positioning can do well provided they have a niche market.
According to the Shanghai Municipal Commission of Commerce, 424 Shanghai companies have invested more than US$4 billion in Hong Kong as of the end of June.
Simon Galpin, director general of InvestHK, said yesterday at a seminar in Shanghai that the region has many strengths including a level playing field, low tax rates and less strident regulation.
"Hong Kong has a high level of freedoms in terms of capital and information flows and a business friendly environment," Galpin said.
"Its pool of diversified professionals, world-class infrastructure, independent legal system, plus its low and stable tax regime make it a favorable testing ground for companies in Shanghai and other parts of the mainland to expand their overseas markets and go global," Galpin added.
High-end consumer goods are more likely to be successful in Hong Kong, but Galpin suggested companies of different positioning can do well provided they have a niche market.
According to the Shanghai Municipal Commission of Commerce, 424 Shanghai companies have invested more than US$4 billion in Hong Kong as of the end of June.
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