Business promoter: Chief Executive Donald Tsang says Hong Kong's status as an international financial, trade, logistics, information and service hub can help promote central China's growth.

Hong Kong's status as an international financial, trade, logistics, information and service hub can help promote Central China's growth, Chief Executive Donald Tsang says.

Speaking at the Central China Business Summit 2007 in Zhengzhou, Henan today, Mr Tsang said Hong Kong has invested about US$300 billion in the Mainland's economic development so far, and set up more than 130,000 enterprises.

Hong Kong's role

He pointed out Hong Kong, as a highly open and international city, can play a role in investment promotion. The city's expertise in financial services can also help Mainland enterprises boost their corporate governance and raise funds.

"As we speak the same language, this can facilitate business exchanges. As we are within the same time zone, the risk caused by time differences is also lowered," Mr Tsang added.

More than 370 Mainland companies have listed in Hong Kong - accounting for more than 30% of the listed companies - with US$193 billion raised.

Multi-functional centre

Noting Hong Kong is a multi-functional international service centre with the service industry as the economy's main pillar, Mr Tsang said expanding Hong Kong-Mainland co-operation in professional services can effectively bring central China into global trade and tourism markets.

"We should first fully implement the Mainland and Hong Kong Closer Economic Partnership Arrangement in the Pan-Pearl River Delta Region. This will be conducive to aiding Hong Kong service providers to enter central China," he added.

Mr Tsang encouraged enterprises in central China to make full use of Hong Kong's strengths and facilities to expand their businesses and investments. They can also use Hong Kong as a platform to develop international businesses.