Thursday, November 26, 2015   

Incentives urged to lure investors

Kenneth Foo

Wednesday, February 22, 2012

Gates are open but doors remain closed for business exchanges between Hong Kong and the mainland.

So says leading think-tank the Bauhinia Foundation Research Centre, which released a report containing recommendations to dismantle existing cross-border barriers to the services sector.

Even though the new Closer Economic Partnership Arrangement will provide a platform for professionals to gain preferential market access to the mainland, several issues remain that put a damper on business exchanges, it said.

"As China is a big market, there are still many problems in implementing policy decisions at the municipal level that need to be ironed out by local authorities," center chairman Anthony Wu Ting-yuk said yesterday.


He hopes the recommendations will prompt the creation of a favorable business environment that will further facilitate the penetration of Hong Kong's services sector into the Pearl River Delta region.

Service industries in the mainland often encounter obstacles such as complicated business registration processes, weak legal protection and irregular tax arrangements.

To remedy these problems, the center put forth a set of recommendations to open "doors" by providing more incentives for SAR entrepreneurs to invest in the region.

The report was drawn up with information obtained from in-depth interviews with 24 representatives from nine service industries, and peer-reviewed by mainland specialists.

A key recommendation calls on the Guangdong government to do away with time-consuming business registration processes by enacting a one-stop service for SAR enterprises.

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.