Secretary for Commerce & Economic Development Algernon Yau today promoted Hong Kong's distinctive advantages and favourable business environment under "one country, two systems" to Malaysian startups and investors in Kuala Lumpur, Malaysia.

He attended the China (Shenzhen, Hong Kong) - ASEAN (Kuala Lumpur) Emerging Industries Partnering Conference jointly organised by the Shenzhen Municipal People's Government, the Commerce & Economic Development Bureau and the Hong Kong Trade Development Council

Addressing the conference, Mr Yau said Hong Kong is well positioned for innovation and technology (I&T) development with the country’s unwavering support, the enormous opportunities brought about by the National 14th Five-Year Plan as well as the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

He said: "As the world's leading financial, trading and logistics hub, Hong Kong has developed a sophisticated financial system, a simple and low tax system, together with a mature legal system supported by a robust intellectual property protection regime.

“All these favourable factors, combined with the Government's strong commitment to I&T development, have positioned Hong Kong as the innovation hub in the region."

Mr Yau added that the "Development Plan for Shenzhen Park of Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone" will serve as the bridgehead for intensive I&T co-operation between Hong Kong and Shenzhen, and allow Hong Kong to give full play to its unique advantage of enjoying the motherland's strong support and being closely connected to the world.

He met Shenzhen Municipal People's Government Mayor Qin Weizhong this morning, to exchange views on further enhancing co-operation between Hong Kong and Shenzhen.

At a lunch meeting, Mr Yau updated Deputy Minister of Investment, Trade & Industry of Malaysia Liew Chin Tong and Deputy Minister of Agriculture & Food Security of Malaysia Chan Foong Hin on Hong Kong's latest developments and discussed issues of mutual interest.

The commerce chief also hosted a dinner for members of the Hong Kong - Malaysia Business Association to exchange views on trade and business co-operation, and the opportunities brought about by the bay area development.

He will return to Hong Kong tomorrow.