Tuesday, February 9, 2010   


InvestHK buoyed by mainland

Bonnie Chen

Tuesday, July 15, 2008

Although Invest Hong Kong has assisted a record 148 companies from overseas and the mainland in the past six months, its director general Mike Rowse expressed concern yesterday over the global economic slowdown that may affect the business climate.

Among the 148 investors, 53 are from Europe and 28 come from the mainland. HKSAR Chief Executive Donald Tsang Yam-kuen noted that six years ago Invest Hong Kong did not have any mainland clients. He said it is encouraging that mainland firms accounted for almost 20 percent of its clients in the past six months.

Meanwhile, Hai Tong (HK) Financial Holdings general manager Yong Lin pointed out that many mainland investors wanted to invest overseas. He said setting up a branch in Hong Kong can help attract this kind of visitor.

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Hai Tong, which started business in Hong Kong last year, is a subsidiary of Hai Tong Securities in Shanghai that has over 300 million clients.

Another firm, British-based Single Market Events, set up a company in Hong Kong last year hoping to organize shows on art and lifestyle products. Managing director Charles Ross said there is no tax levy on any imported art piece coming to Hong Kong but there is a 34 percent tax in the mainland. He said Hong Kong can also attract overseas and mainland buyers, but he hoped more exhibition space can be available.

Maersk Shipping Hong Kong, a member of the Danish Moller-Maersk Group established in 2006, has seven vessels flying Hong Kong flags, according to general manager Halfdan Ross. "Vessels are very valuable assets, we have to find a place like Hong Kong that won't put us at risk."


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