Hong Kong, as a gateway in and out of the Chinese mainland, will play an increasingly important role as Chinese enterprises seek opportunities overseas in the years to come, a theme that will be highlighted at the first China Overseas Investment Summit in the city next month.

The summit, hosted by the Hong Kong China Chamber of Commerce, will be held on November 15-16. Guests will discuss exciting topics such as "The role of Hong Kong in China's overseas investment" and "Chinese mainland and enterprises in Hong Kong to make joint overseas investment", etc.

Chan King-wai, president of the Hong Kong China Chamber of Commerce, said that "in its 12th Five-year Plan, China has highlighted the acceleration of the 'go global' strategy in its development. The holding of this summit is a response to this trend. It is important for Hong Kong firms to remain relevant and become an indispensable part of this process."

Chan noted that in the first three decades after mainland embarked on its opening-up policy, Hong Kong enterprises played an important role by investing on the mainland and introducing foreign firms to this vast market. Even up to the present day, about 65 percent of Chinese overseas investments have been completed in and routed through Hong Kong.

In the following decades, against the backdrop of global economic growth moving towards the East, Hong Kong enterprises, especially those in the service sectors such as legal, accounting and valuation, should be proactive in joining hands with mainland companies to "go global," said Chan.

In August, Vice-Premier Li Keqiang visited Hong Kong and unveiled a series of measures to boost the city's competitiveness. According to Li, the central government will further encourage cooperation between mainland and Hong Kong enterprises to tap opportunities in international markets.

Policy support will cover areas including project pitching, investment, information exchanges and talent training. The pledge aims at "actively directing mainland enterprises and Hong Kong enterprises when working together to explore the international market and establish global marketing and sales networks," said Li.

The vice-premier added that "efforts like joint investment, joint bidding and joint contracting when pitching for investment and infrastructure projects will be encouraged".

joyli@chinadailyhk.com

China Daily

(HK Edition 10/28/2011 page2)