Hong Kong, July 14 (China News Service) -- On the 14th, the Federation of Hong Kong Industries (HKIE) released a research report entitled "Made in Hong Kong: Hong Kong's Industrial Innovation Chapter". According to the report, there are about 40,000 Hong Kong-funded manufacturing enterprises on the mainland, and the total profit in the mainland in 2019 is about HK$680 billion.
According to the report, Hong Kong, as the headquarters of 90% of Hong Kong-funded manufacturing enterprises, can also accelerate the development of local production and service industries, such as scientific research, design, sales, etc., and its proportion of GDP has been rising, from 28.7% in 1980 to 42.2% in 2019.
The report also argues that Hong Kong's industrial policy should not be limited to "re-industrialisation" in the region, but must face up to the uniqueness of Hong Kong's industrial ecology and allocate resources strategically.
The Financial Secretary of the Hong Kong Special Administrative Region Government, Paul Chan, delivered a speech at the press conference in video form on the same day. He pointed out that the mainland became the only major economy in the world with positive economic growth last year, and the market estimates that growth this year will be much higher than 6%. The future growth driver of Hong Kong's industry is naturally the mainland market.
Chen Maobo said that the "14th Five-Year Plan" outline released by the state in March this year proposes to accelerate the construction of a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles promoting each other. Therefore, it is expected that the state will significantly expand consumption and investment in the mainland. Under this general trend, in recent years, some Hong Kong companies have shifted from focusing on the traditional overseas export market to expanding domestic sales, and are committed to grasping the huge business opportunities in the mainland market.
He mentioned that this year's Budget provides additional allocations to the Trade Development Council to introduce a series of measures to support Hong Kong companies in expanding their domestic sales. Among them, the HKTDC launched the one-stop GoGBA digital platform last month and set up the HKTDC Greater Bay Area Service Centre in Shenzhen to provide support to Hong Kong companies. The HKTDC will also organise flagship events such as the Guangdong-Hong Kong Co-operation Week at the end of this year to showcase Hong Kong's outstanding brands, distinctive products, designs and technologies to consumers in the Greater Bay Area, and to assist Hong Kong companies to use the Greater Bay Area as an entry point to expand the Mainland market. The Government will continue to strengthen its support to Hong Kong companies and help them actively participate in the construction of the domestic large-scale cycle.
Chan also said that the study mentioned the opportunities that the Overseas Economic and Trade Cooperation Zones and the Regional Comprehensive Economic Partnership Agreement under the Belt and Road Initiative can bring to Hong Kong's industry. In terms of the development of overseas cooperation zones, the Government has assisted Hong Kong companies in developing their business in various directions, including cooperating with the Ministry of Commerce of the People's Republic of China to assist Hong Kong companies to settle in. As for the Agreement, the HKSAR Government will continue to strive to become a member of the Agreement as soon as possible, and will use different platforms to introduce the opportunities of the Agreement to the industry in a timely manner and provide support measures in a timely manner to help Hong Kong companies explore new business opportunities. (End)
Source: China News Network