Govt Backs HK Business Expansion

Secretary for Commerce & Economic Development Edward Yau today said the Government strives to support Hong Kong enterprises in developing the domestic sales market and meeting the Mainland market's needs.

Answering lawmakers’ questions at the Legislative Council, Mr Yau said he expects the demand of and imports to the Mainland market will grow continuously driven by the country's dual circulation development strategy.

He noted that the Government has provided the Hong Kong Trade Development Council (HKTDC) with an additional subvention of $375 million for developing virtual platforms to enhance its ability to organise online events and for digitalisation.

Mr Yau also pointed out that the Guangdong-Hong Kong-Macao Greater Bay Area is an ideal entry point to tap into the Mainland market.

In June, the HKTDC launched one-stop digital platform GoGBA and established the HKTDC GBA Centre in Shenzhen to provide Hong Kong enterprises with market information on the Greater Bay Area, as well as business promotion and matching services.

It also plans to organise a major promotional event both online and offline in Shenzhen in the coming months to help Hong Kong enterprises promote local specialty products.

The Government will continue to encourage Hong Kong enterprises to actively participate in large-scale promotional activities on the Mainland, such as the fourth China International Import Expo to be held in Shanghai early next month.

Asked if Hong Kong should seek from the country duty-free policies similar to that of Hainan, Mr Yau said apart from national consideration based on the prevailing economic policies of different areas, Hong Kong should also carefully consider the proposal's impact on the city’s overall economy as well as people's livelihood and whether its implementation would bring any actual benefits.