Hong Kong urged to be ‘super partner’ in businesses’ overseas expansion push Hong Kong should act as a “super partner” helping enterprises expand into Asean, Middle Eastern, Central Asian and European markets, as well as build an annual review into its first five-year plan, one of the city’s oldest and largest chambers of commerce has said. The suggestions are among 65 that the Chinese General Chamber of Commerce put forward to the government on Wednesday, covering Hong Kong’s maiden five-year plan and the city leader’s final policy address of his term. Jonathan Choi Koon-shum, chairman of the chamber, said that in addition to being a “superconnector” and “super value-adder”, the city should also take part in investment and operations. “Hong Kong runs over 10,000 enterprises in the Pearl River Delta, while our MTR and airport are very well run. There is also a lot of capital in Hong Kong with a lot of investments. We should look to upgrade ourselves to be a ‘super partner’,” he said. “When we go overseas, we’re not just connecting different parties and providing supporting services. We could also invest together and position ourselves that way.” The government launched a two-month public consultation on June 15 on its first five-year blueprint, which aims to align Hong Kong’s development with the national plan, to be released in the third quarter. Choi said the five-year plan was a road map for development, and since “a lot could happen” over that period, he suggested an annual review involving a committee that could course-correct if progress strayed off track, or accelerate it if development fell behind schedule. He added that there should be “hard indicators” focusing on public responsibilities and major tasks that must be completed within clear timelines, with designated departments held accountable and incorporated into the government’s accountability system. When asked whether there should be consequences for failing to meet the hard indicators, he stopped short of responding, saying he would leave that decision to the government. Hong Kong should also promote two-way recognition of professional service qualifications with the Greater Bay Area and facilitate international and mainland Chinese cooperation on Belt and Road Initiative projects in equity investment and operations management, the chamber proposed. It also said Hong Kong should establish an Islamic infrastructure fund to invest in projects across Southeast Asia and Central Asia, while aligning with halal product trade standards and attracting Islamic investment to the city. The chamber also said development of the Northern Metropolis – a megaproject near the city’s border with the mainland – should integrate industry and community, with simplified planning procedures to encourage enterprises to set up bases in the area. The chamber also suggested a community for international talent in the Northern Metropolis, equipped with international schools, high-end medical care and living amenities, along with tax arrangements and visa facilitation to retain talent in the long term. It added that some facilities within the Northern Metropolis should be reserved for small and medium-sized enterprises, with an industrial incubation base and shared production space complemented by tax and procurement incentives, promoting cooperation between them and leading enterprises. Other suggestions included establishing an artificial intelligence certification and litigation arbitration centre to make Hong Kong a hub for AI governance, as well as reviewing the stock stamp duty structure, simplifying compliance procedures and reducing listing costs for companies. The city’s five-year plan, covering areas including the economy, investment, industrial development, land, housing, transport and infrastructure, employment, healthcare, education and welfare, will align with the national five-year plan, which guides the country’s development from 2026 to 2030. Founded in 1900, the chamber is one of the largest and oldest in Hong Kong. According to its official website, it currently has a membership of 6,000, comprising companies, associations, individuals and affiliate members. https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3363088/hong-kong-urged-be-super-partner-businesses-overseas-expansion-push?pgtype=live (ICE HONG KONG)

Fonte notizia: South China Morning Post