Hong Kong’s role as a superconnector and “super value-adder” for mainland businesses expanding overseas was highlighted during visits to Anhui province this week, as foreign officials and business leaders voiced confidence in Hong Kong’s potential to facilitate deeper international cooperation.
Organized by the Office of the Commissioner of the Ministry of Foreign Affairs of China in the Hong Kong Special Administrative Region, the visit brought together officials from foreign consulates general in Hong Kong and representatives of overseas chambers of commerce and businesses based in the city.
“Hong Kong is Wuhu’s largest source of overseas investment and an important trading partner,” said Bernard Chan Pak-li, under secretary for commerce and economic development of the Hong Kong SAR government.
Chan described Hong Kong as the preferred platform for mainland companies expanding overseas, citing its status as an international financial, shipping and trade center, and its world-class professional services.
The SAR government launched the GoGlobal Task Force last year as a one-stop platform for mainland companies seeking to expand overseas via Hong Kong.
The task force helps mainland companies set up regional headquarters in Hong Kong to manage overseas operations, while offering support in areas including capital and risk management, testing and certification, and international business development, Chan said.
“Wuhu has 11 companies listed on the Hong Kong stock exchange, with a combined market capitalization of more than 350 billion yuan ($52.3 billion), forming an influential ‘Wuhu sector’ in Hong Kong’s stock market,” said Ding Baijing, vice-mayor of Wuhu, a city in Anhui and a major automobile export hub.
During the visit, the delegation toured the super factory of Chery Automobile, a Hong Kong-listed automaker headquartered in Wuhu. On its automated assembly line, robotic arms fitted tires to vehicles without human intervention.
At a local robotics company, the delegation interacted with humanoid robots designed for applications ranging from smart healthcare and traffic management to cultural entertainment.
“China stands today at the frontier of intelligent manufacturing and new energy vehicles, competing and succeeding on the world stage,” said Johannes Hack, chairman of the European Chamber of Commerce in Hong Kong, adding that he was optimistic about opportunities for further cooperation.
Hack said Hong Kong could also help mainland companies expand into Europe through the expertise of European banks and services firms established in the city, which could assist them in navigating European regulations, structuring investments and accessing capital.
Ma’anshan, a traditional steelmaking city, has also strengthened its economic links with Hong Kong. “Ma’anshan now has 128 Hong Kong-invested enterprises. Direct investment from Hong Kong reached $80.95 million last year, accounting for 63.5 percent of the city’s total utilized overseas investment,” said Que Fangjun, acting mayor of Ma’anshan.
Que said the city had also set up a Ma’anshan fellowship association and an enterprise services company in Hong Kong as part of efforts to deepen ties with the SAR.
The delegation also visited Xuejiawa Ecological Park, a former industrial and port area along the Yangtze River that has been restored and transformed into a public recreational space.
Citing Ma’anshan’s push into low-carbon steel and high-value-added products, Ng Cheng Cheng, vice-chairman of the Malaysian Chamber of Commerce in Hong Kong, said these developments could align with Malaysia’s need for technological upgrades in its steel industry.
“I foresee immense potential for collaboration between Ma’anshan Iron and Steel Co Ltd and Malaysian industry partners,” Ng said, adding that the chamber was ready to connect key government officials and business leaders.
Contact the writer at charlottezhou@chinadailyhk.com
