(Policy Address 2025) New GoGlobal Task Force to propel mainland firms overseas; media expansion to tell HK’s good stories

Chief Executive John Lee has unveiled a new "GoGlobal Task Force" as the centerpiece of his strategy to solidify Hong Kong’s role as a vital springboard for mainland and international enterprises. In a related move to bolster the city's global narrative, the government will also assist local media in expanding their networks beyond Hong Kong to tell the city's success stories to the world.

These initiatives are designed to use Hong Kong’s unique advantages to contribute to national development and deepen global economic ties.

The newly announced Task Force on Supporting Mainland Enterprises in Going Global will serve as a dedicated one-stop platform, mobilizing the extensive networks of Hong Kong's overseas Economic and Trade Offices, Invest Hong Kong, the Hong Kong Trade Development Council (HKTDC), and the city's offices in the Mainland.

Steered by the Secretary for Commerce and Economic Development, the task force will coordinate across various government bureaux and agencies to formulate tailored proposals for mainland companies looking to expand internationally.

The multi-faceted plan includes several concrete measures.

The Hong Kong Monetary Authority (HKMA) will encourage the banking sector, particularly mainland banks, to establish regional headquarters in Hong Kong. This move is designed to utilize the city's financial strengths to help these banks expand into high-growth markets like Southeast Asia and the Middle East, thereby offering more comprehensive cross-boundary financial solutions.

In a significant step to attract mainland corporations, the government will complete a study in the first half of 2026 on enhancing tax concessionary measures for corporate treasury centres (CTCs) established in Hong Kong.

The strategy also features key international partnerships.

The HKMA has signed a memorandum of understanding with Saudi Arabia's Public Investment Fund to establish a new US$1 billion investment fund. This fund will specifically cater to enterprises from Hong Kong and other Greater Bay Area cities seeking to expand into the Saudi market.

Furthermore, the HKMA will collaborate with major industry bodies to lead delegations of bankers and SMEs to explore opportunities in Southeast Asian markets like Vietnam.

Meanwhile, the government will leverage Hong Kong's strengths as a world-class exhibition hub to consolidate its position as the ideal platform for mainland brands to "go global" and for international brands to be "brought in." Support will be given to the trade to organize more events focused on brand development.

Separately, in a key supporting measure, the government will assist local media organisations to expand their international network, empowering them to tell good stories of Hong Kong's business environment and opportunities to a global audience.

Recognizing the growing importance of environmental standards, the plan includes promoting the development of carbon audit services. This will assist enterprises in meeting international requirements and standards on green trade and carbon emission reduction as they expand overseas.