By South China Morning Post | Created at 2025-01-10 14:51:47 | Updated at 2025-01-10 18:52:39
4 hours ago
Hong Kong’s leader has called on entrepreneurs to set up more businesses in mainland China, take advantage of their “superconnector” role and embrace innovation to better seize opportunities over the border while contributing to the nation’s development.
Speaking at a business summit in Shenzhen organised by the Federation of Hong Kong Industries on Friday night, Chief Executive John Lee Ka-chiu stressed that opportunities in the innovation and technology (I&T) sector arising from collaboration between the two cities were waiting to be further tapped.
“Actively innovate and set up businesses on the mainland with a view to contributing to the country,” Lee told the audience, noting the expanded Closer Economic Partnership Arrangement (Cepa) would take effect on March 1.
“I encourage Hong Kong and global enterprises to make good use of these new concessions to tap the endless opportunities in the mainland market, serving the country by attracting funds and talent while helping mainland firms to go global.”
Hong Kong expanded the free-trade deal with the mainland last October, a move finance chief Paul Chan Mo-po said would allow more local companies to gain a foothold across the border, in turn bolstering the city’s economy.
The expansion gives companies registered in the city easier and quicker access to the Greater Bay Area, Beijing’s plan to link Hong Kong, Macau and nine cities in Guangdong province.
The amendment relaxes qualification requirements for Hong Kong professionals working on the mainland and removes some barriers on shareholding and business scope across the border.
