Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
HK attains growing roles in global finance
Adjust font size:

Hong Kong is attaining growing roles as a springboard for Chinese mainland companies to expand globally and as a global financial center for the Asian time zone, the city's Chief Executive Donald Tsang said Monday.

Speaking at a reception of investors, Tsang said investment promotion officials of the Hong Kong Special Administrative Region (HKSAR) government have traditionally marketed Hong Kong as a place to do business in four levels: a market in its own right, a co-ordination center for south China, a base for the whole of China, and a base for the region.

But an emerging trend is that mainland companies have increasingly recognized Hong Kong's strategic role as the springboard to expand regionally and globally, Tsang said.

"Just six years ago, Invest HK did not have any mainland clients. In the first months of this year, mainland companies accounted for 20 percent of our completed investment projects," Tsang said, referring to the work of the invest arm.

Hong Kong has been actively promoting itself as an investment platform.

Tsang said a second emerging trend is Hong Kong's growing role as one of the leading international financial centers, citing NyLonKong, a firm coined by the Time magazine earlier this year toincorporating the names of New York, London and Hong Kong.

Financial giants, including Deutsche Bank, JPMorgan, and CreditSuisse, have planned for major expansion locally and some companies are relocating key personnel with global responsibilities to Hong Kong from New York and London, he said.

(Xinhua News Agency July 15, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Hong Kong's new commerce bureau chief appointed
- Hong Kong service firms set to receive more help
- Hong Kong's Q1 economy grows 7.1 pct in real terms
Most Viewed >>
- More Chinese brands among world's top 500
- Government working to raise stocks
- China's forex reserves reach US$1.809 trillion
- Trade deficit of farm produce rockets
- Car models at Auto China 2008
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?