Return of multi-entry visas looms

Wallis Wang

Multiple-entry visas for Shenzhen residents are on the cards and "one trip per week" visas will be expanded to cover more mainland cities, Chief Executive John Lee Ka-chiu announced.

During a Greater Bay Area development forum, Lee thanked the central government for "proactively studying and expediting the process" for resuming the arrangements.

"I believe we will get news [from our mainland counterparts] very soon," Lee said. "The SAR government will do their best to complement the implementation, facilitate travelers' border crossing and inject a new impetus to the tourism, catering and retail industries."

Lee also proposed to expand data flow to more industries between Hong Kong and other GBA cities in last month's policy address as well as strengthening medical collaborations and promoting the exchange of legal information and training.

"The government will continue cooperating with Greater Bay Area cities to integrate the region's strengths, promoting policy innovation, breakthroughs and building a high level of interconnectivity within the area," Lee said.

In a separate international business summit, Lee said that "Hong Kong remains among the most liberal and easiest places in the world to do business."

"These advantages make Hong Kong a natural bridge for Association of Southeast Asian Nations and Middle East businesses and investors looking to mainland markets and opportunities," he said.

Lee said Hong Kong is fully prepared to join the Regional Comprehensive Economic Partnership free trade agreement, the world's largest free trade agreement that includes all 10 Asean member states.

"I continue to count on business leaders like your good selves - people who know Hong Kong well and appreciate the value the city can add to RCEP - to speak up in support of our accession bid," Lee said.

Meanwhile, Financial Secretary Paul Chan Mo-po said the risk is growing after US President-elect Donald Trump made clear that he intends to impose tariffs on China, Canada and Mexico.

"Traditional markets, including the US, remain important sources of capital and investment for Hong Kong," Chan said.

It is not all doom and gloom though, according to Chan, as he saw some encouraging signs in his earlier European and US visits.

The UK is eager to establish ties with China, while the US financial and commercial sectors still show strong interest in investing in Hong Kong and doing business with China despite heightened political tensions.

wallis.wang@singtaonewscorp.com