[Concurrent] Yau Tenghua, Director of the Bureau of Commerce and Economic Development of the Hong Kong Special Administrative Region Government

  Sometimes I talk to foreign media that if you read the headline on the newspaper, it is the headline, which may affect the daily trading (trade).

But the biggest influence on whether a company can continue (development) in one place is not the headline (news headline), but the baseline (basic conditions).

Whether Hong Kong is a stable society, whether business can be fair, open, and competitive, what is the rule of law, etc.

I think this is the baseline. This basic line is also the reason that attracts them (companies) to stay in Hong Kong or attract more companies to Hong Kong.

  [Explanation] Recently, foreign media claimed that some multinational companies are withdrawing from Hong Kong. Recently, the Hong Kong Special Administrative Region Government's Bureau of Commerce and Economic Development Qiu Tenghua accepted an exclusive interview with a reporter from China News Agency. He used two English words to make a clever comment on this remark.

Qiu Tenghua pointed out that the main factors that attract a company to take root in a region for a long time include a stable social environment and a fair and open business environment.

In response to the survey results of 42% of companies considering leaving Hong Kong released by the American Chamber of Commerce in Hong Kong, Qiu Tenghua responded with data.

  [Concurrent] Yau Tenghua, Director of the Bureau of Commerce and Economic Development of the Hong Kong Special Administrative Region Government

  Hong Kong is a very free place, especially for business people, who come and go freely.

This figure in 2020 is basically the same as in 2019, with more than 9,000 (selected by international companies) in Hong Kong (setting up regional headquarters).

It has not been affected by social events in 2019, nor has it been affected by the recent (new crown pneumonia) epidemic, so it is basically stable.

  [Explanation] Qiu Tenghua said that in order to comprehensively and accurately examine the situation of foreign-funded enterprises in Hong Kong, in addition to observing the number of international enterprises that have established their regional headquarters in Hong Kong, the exchange rate of the Hong Kong dollar is also an important reference standard.

  [Concurrent] Yau Tenghua, Director of the Bureau of Commerce and Economic Development of the Hong Kong Special Administrative Region Government

  Because if funds leave Hong Kong, we can often reflect it in the exchange rate of the Hong Kong dollar, but from the middle of last year (2020) to the present, the net inflow of funds to Hong Kong is actually increasing. In the past year, we have more than The US$50 billion is to come to Hong Kong from outside to increase investment in Hong Kong.

Especially in the first quarter of this year (2021), there are more than 17 billion U.S. dollars in capital, which is through listing and raising funds in Hong Kong. Therefore, whether it is an international company using (using) Hong Kong as a regional headquarters, whether it is capital inflows, There are also listings and fund-raising, which all reflect that Hong Kong is still a very popular place for international companies.

  [Explanation] Qiu Tenghua said that in recent years, the SAR government has done a lot of work in creating a good business environment for international companies, including signing free trade agreements with surrounding areas, maintaining exchanges with foreign chambers of commerce, enterprises, etc. Answering questions, explaining the specific provisions of the Hong Kong National Security Law, etc. These measures have given international companies operating in Hong Kong more confidence.

  [Concurrent] Yau Tenghua, Director of the Bureau of Commerce and Economic Development of the Hong Kong Special Administrative Region Government

  So we also attach great importance to contact with these international chambers of commerce, just to see what they worry about.

Indeed, in 2019, when Hong Kong was in a lot of social riots, foreign businessmen were indeed worried about the stability of Hong Kong at that time.

But by 2020, they will be more steadfast about social stability.

I have also come across an international organization with a French background that is one of the top 500 in the world. It chose Hong Kong as its global headquarters, so its co-chairman lives in Hong Kong.

He said that he spent a period of time last year (2020) to explain to their board of directors whether the promulgation of the Hong Kong National Security Law would affect Hong Kong or its business operations. He finally decided to stay.

  [Explanation] When asked how to look forward to Hong Kong’s future business and economic development, and how to make multinational companies and international investors more confident in Hong Kong, Qiu Tenghua said that as mentioned in the "14th Five-Year Plan", Hong Kong should continue to play " The role of "one specialization, multiple abilities" will consolidate advantages in finance, trade, professional services, etc., and strengthen the construction of innovation and technology, regional intellectual property trading centers, etc. It is believed that Hong Kong's economy can be regained as the epidemic slows down. Growth momentum.

  [Concurrent] Yau Tenghua, Director of the Bureau of Commerce and Economic Development of the Hong Kong Special Administrative Region Government

  In the first three months of this year (2021), not only is the GDP growth of 7.9%, but also if we look at it, especially the growth driven by trade, it is the highest in the past ten years, because we are in this year (2021). ) In the first quarter, there were four months, and we surpassed the total trade volume of 800 billion Hong Kong dollars every month.

This basically increases our growth in the overall GDP, and also reflects that Hong Kong, as the most open economy in the world, has also played a role in promoting our economic recovery.

When the epidemic has stabilized, Hong Kong actually has some conditions to regain the momentum of growth.

  Reporter Fan Siyi reports from Hong Kong

Editor in charge: [Li Ji]