Shaanxi encourages firms go global with Invest HK

Shaanxi, inland province in Northwest China, encourages its enterprises to "go global" with help from Invest Hong Kong, a business promotion of the government of the Hong Kong Special Administrative Region.

According to Yao Chaoying, director of Shaanxi provincial department of commerce, the provincial government has made effort to promote the local companies to use Hong Kong's business advantages and opportunities to expand into overseas market.

"By the end of June, the department of commerce approved local companies to established 25 enterprises in Hong Kong, with investment of about $5.63 billion, and the province also attracted 2,496 projects with $16.3 billion of the investment from Hong Kong, which was 48.7 percent of the total overseas investment into the province," Yao said.

The Hong Kong investment to Shaanxi mainly focused on real estate, wholesale and retail business, the commerce director said.

In order to further promote the cooperation between Shaanxi and Hong Kong, Invest Hong Kong recently hosted a "Hong Kong – Your Platform to Going Global" seminar and CEO luncheon in Xi'an, the capital of Shaanxi province, to encourage companies in West China to further use Hong Kong's business advantages and the opportunities it offers under the national policy of "going global" to expand into overseas markets.

The seminar showcased Hong Kong's business advantages and the latest developments in its modern service industry, updating Shaanxi enterprise representatives on how their companies could expand overseas via Hong Kong.

InvestHK is the department of the HKSAR Government established in July 2000 to take responsibility for foreign direct investment and support overseas and Mainland business to set up or expand in Hong Kong. It provides free advice and customized service to help business succeed in Hong Kong's vibrant economy.