CEPA lures investment into HK: official

Twenty percent of companies assisted by Invest HK in setting up business in Hong Kong have indicated that the Closer Economic Partnership Arrangement (CEPA) was one of the reasons leading to their decision to invest in the city, a Hong Kong government official said Wednesday.

"We consider the implementation of CEPA brings to Hong Kong companies more business opportunities in the mainland market, thereby increasing the attractiveness of Hong Kong to overseas investors," Secretary for Commerce, Industry and Technology John Tsang told legislators.

A Census and Statistics Survey found that as at June 1 last year, the city had 1,098 regional headquarters and 2,511 regional offices of companies incorporated outside Hong Kong, representing increases of 13.7 percent and 12 percent from a year earlier, and the largest percentage increases since 2001.

Tsang said the government will continue to work to improve the business environment and publicize and uphold all existing favorable factors.

InvestHK was set up by the Hong Kong Special Administrative Region government to assist corporations looking for direct investment opportunities in Hong Kong.

Source: Xinhua