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Hong Kong Chief Executive John Lee Ka-chiu said on Friday that 12 Zhejiang-based companies have signed agreements with Invest Hong Kong to establish a presence in the city.

The companies span a range of sectors including financial services, trade, innovation and technology, aviation, logistics and retail, according to a statement posted on Lee’s official social media account following his attendance at an event in Zhejiang earlier in the day.

Lee added that the SAR government and the city’s Trade Development Council, has put in place a support mechanism to help mainland companies establish offshore trade and regional headquarters in the city.

Lee said international financial institutions and regional investors increasingly view Hong Kong as a strategic springboard to tap the vast mainland market and hedge against potential risks tied to the US market.

"Hong Kong’s deep expertise in international trade, diverse talent pool and top-tier professional services make it well-positioned to support mainland firms in reorganizing supply chains and expanding into emerging markets," Lee said.

STAFF REPORTER

12 Zhejiang-based companies to establish presence in Hong Kong in strategic move