Northern Metropolis offers growth base for mainland firms going global: Algernon Yau

The Northern Metropolis will provide new opportunities for mainland companies seeking to establish operations in Hong Kong and expand overseas, Secretary for Commerce and Economic Development Algernon Yau Ying-wah said at the Belt and Road Summit.

Yau said Hong Kong was positioning itself to support mainland enterprises going global as the city aligns its development with the National 15th Five-Year Plan.

The GoGlobal Task Force, established last October to provide one-stop support for mainland enterprises expanding overseas, has assisted more than 300 mainland companies in establishing or expanding their businesses in Hong Kong. The figure was also highlighted by Chief Executive John Lee Ka-chiu at the opening of the summit on Wednesday.

Yau pointed to Hong Kong’s free-market economy, international financial sector, professional services and global connections as advantages for companies seeking to expand beyond the mainland.

Under “one country, two systems,” he said the city could continue to serve as a “super-connector” and “super value-adder” between the mainland and international markets.

He also highlighted the Northern Metropolis, saying its development potential and supply of land for industrial use would create opportunities across a range of sectors.

These include innovation and technology, education, transport and logistics, advanced manufacturing and commodity trading.

Yau said the development could provide mainland companies with a base to establish and expand their operations, while allowing them to tap Hong Kong’s professional services as they venture into overseas markets.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓