Li Jiachao: Vigorously leverage Hong Kong's internal and external connectivity to promote domestic and foreign enterprises to seize opportunities in the Greater Bay Area
The Chief Executive of the Hong Kong Special Administrative Region, John Lee, stated at the New Year’s reception that Hong Kong's economy demonstrates strong resilience, with an expected GDP growth of 2.5% year-on-year. The government will continue to reform and innovate, consolidate stable development, and attract domestic and foreign enterprises to seize opportunities in the Greater Bay Area. Last year, the number of companies based in Hong Kong reached a record high, with mainland enterprises accounting for over 26%. Hong Kong's startup companies are also continuing to grow, reflecting the confidence of domestic and foreign enterprises in Hong Kong. The total economic output of the Greater Bay Area has surpassed 14 trillion yuan, and the government will make every effort to promote coordinated development
According to the Zhitong Finance APP, on February 14th, Hong Kong Chief Executive John Lee attended a New Year reception and stated that over the past year, Hong Kong's economy has demonstrated strong resilience, with the local GDP expected to increase by 2.5% year-on-year. Service exports continue to rise, overall goods exports have resumed growth, and the achievements in attracting investment have broken multiple records, with significant contributions from Chinese-funded enterprises. He stated that the Hong Kong SAR government will continue to be bold in reform and innovate to break new ground, further consolidating the positive trend of stable development in Hong Kong and leading various sectors of business and society to seize development opportunities. Hong Kong will also vigorously leverage its internal and external connections to expand its global economic and trade network, strengthening ties with traditional markets while cooperating with more emerging economies.
John Lee stated that the current Hong Kong SAR government is always thinking innovatively, welcoming outstanding enterprises and talents from the mainland and internationally, and the achievements in attracting investment have broken multiple records. Surveys by the Invest Hong Kong and the Census and Statistics Department show that last year, the number of overseas and mainland companies based in Hong Kong reached 9,960, a historical high. Among them, 2,620 companies are from the mainland, accounting for over 26%, making it the largest source of foreign companies in Hong Kong, which not only demonstrates the strength of Chinese-funded enterprises but also highlights their positive role in Hong Kong's economic development.
Last year, the Hong Kong Invest Hong Kong assisted 539 mainland and overseas enterprises in establishing or expanding their businesses in Hong Kong, an increase of over 40%. These enterprises brought more than HKD 67.7 billion in investment to Hong Kong, a year-on-year increase of 10%, also setting a historical high. At the same time, Hong Kong's startup enterprises continue to thrive, gathering nearly 4,700 startups, a year-on-year increase of 10%, also a historical high. These positive results fully demonstrate the confidence of domestic and foreign enterprises in Hong Kong, choosing it as an important base for expanding regional business.
He stated that the Guangdong-Hong Kong-Macao Greater Bay Area is a strategic pivot for the new development pattern, a demonstration area for high-quality development, and a leading area for Chinese-style modernization. The total economic output of the Greater Bay Area has surpassed RMB 14 trillion in 2023, with a population of 87 million, gathering innovative elements and possessing strong development potential. The Hong Kong SAR government will fully invest in the coordinated development of the Greater Bay Area, promoting domestic and foreign enterprises to seize opportunities in the Greater Bay Area and effectively utilize the global network to tell the true good stories of the Greater Bay Area and the country to the international community.
The Northern Metropolis is adjacent to the mainland and is a new engine for Hong Kong's development, while the Hong Kong Park of the He Tao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone located in the Northern Metropolis is an important cooperation platform for the construction of the Greater Bay Area. The government will promote the development of the Northern Metropolis, including the He Tao Hong Kong Park, with innovative thinking combined with market forces, to expedite the entry of the first batch of industries into the park.
This year marks the 25th anniversary of the establishment of Invest Hong Kong. Invest Hong Kong will fully promote Hong Kong's unique advantages under "one country, two systems," assist domestic and foreign enterprises in seizing development opportunities in China and the Hong Kong SAR, and promote more enterprises to establish regional headquarters and multinational supply chain management centers in Hong Kong