Hong Kong commerce chief to lead joint local and mainland delegation to Malaysia
Algernon Yau says about 200 mainland enterprises have already set up offices in the city since last year to expand globally
Hong Kong’s commerce chief is set to lead a delegation of mainland Chinese and local firms to Malaysia next week, noting that about 200 enterprises from across the border have already set up offices in the city since last year, using it as a stepping stone to go global.
Secretary for Commerce and Economic Development Algernon Yau Ying-wah also said on Saturday that the city was eyeing emerging markets in Africa after exploring the Middle East and Central Asia amid geopolitical tensions.
Yau said the coming Malaysia trip would involve exploring business opportunities and signing agreements to confirm bilateral investments.
“The trip is not just to help mainland and Hong Kong enterprises go overseas, but also to potentially attract businesses from other places to Hong Kong … which could help develop the city’s economy,” the minister said.
He said the move could in turn help strengthen the industry chain, which could support the mainland “dual circulation” economic strategy, involving a greater focus on the domestic market without abandoning the external one.
Yau said the mainland was very open to foreign investment and that he hoped Hong Kong could play the roles of a “superconnector” and a “super value-adder” in bringing more overseas companies to the Greater Bay Area through the city.