Chen Baili: Hong Kong completed more than 850 projects in the first nine months of this year, and the China Merchants Special Administrative Region Government continued to host events to turn people into wealth

The Zhitong Finance App learned that the Hong Kong Deputy Secretary for Commerce and Economic Development, Chen Baili, said that the current administration attaches great importance to investment promotion. In the period from 2023 to the first nine months of this year, the Investment Promotion Department completed more than 850 projects, which have proportionately surpassed the KPI (performance indicators) proposed in the 2022 “Policy Address” to attract investment, and believes that the relevant work has achieved ideal results.

He said that the Investment Promotion Department is making efforts to attract overseas companies to enter Hong Kong. In the first nine months of this year, it has attracted 37 consumer goods industries to Hong Kong, an increase of 32% over the previous year; it has attracted 50 companies in the catering, tourism and hospitality industry, an increase of 85% over the previous year.

He also pointed out that the authorities will continue to conduct roadshows in different cities in the mainland, and the Investment Promotion Agency's Turkish office is expected to commence operations in the first quarter of next year.

At the meeting, some members of parliament paid attention to the recent closure of Chinese supermarkets, large fitness centers, etc., and how the government can improve the local investment environment. Chen Baili pointed out that Hong Kong's recovery after the epidemic was less than ideal. Facing cyclical factors such as the high exchange rate of the Hong Kong dollar and structural factors such as changes in consumption patterns, the government will continue to host events to attract people and cooperate with the industry to turn the flow of people into wealth.