Hong Kong: a Key Link for the Belt and Road
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INVESTHK_BRIBooklet_EN_Jan19_Cover_OP.ai 1 2/1/2019 上午9:58 C M Y CM MY CY CMY K CONTENTS 3 ABOUT INVEST 4-5 HONG KONG BELT AND ROAD 6-7 OVERVIEW 8-11HONG KONG ADVANTAGES HONG KONG AND THE NATIONAL DEVELOPMENT 12-13 AND REFORM COMMISSION 14-17 INDUSTRY OPPORTUNITIES REGIONAL 18-21 OPPORTUNITIES 4 5 ABOUT INVEST HONG KONG Invest Hong Kong (InvestHK) is the Hong Kong Special Administrative Region Government’s department responsible for attracting foreign direct investment. Our goal is to help Mainland and overseas Introduction to business contacts: companies to set up and develop their - Lawyers, accountants, human resource businesses in Hong Kong. For those foreign specialists, consultancies, designers, companies that are already established interior specialists and real estate here, we extend our services to help them companies expand in our city. Arranging visit programmes: All of our services are free, confidential - Meetings with service providers, and tailored to clients’ needs. professional associations, and Our comprehensive range of government officials and departments services includes: Business support facilitation: Latest information on Hong Kong’s - Support and assistance with business business environment: licences, visa applications, trade mark - Sector-specific advice and registration, IP and trade regulations opportunities - Marketing and public relations services - Business incorporation procedures during the launch and expansion of - Tax and business regulations your company - Cost-of-business models - Advice on living and working in - Employment legislation Hong Kong — housing, healthcare, - Immigration requirements schooling and networking - Business networking opportunities InvestHK has offices in major cities around the world and industry experts across a range of business sectors. Contact us for free advice on setting up in Hong Kong or for details on how we can support your expansion in our city. 6 Combining two related development schemes: “Silk Road Economic Belt” and “21st Century Maritime Silk Road”, the Belt and Road Initiative (BRI) connects Asia, the Middle East, Eastern Africa, and Eastern Europe. It is a monumental undertaking that BELT AND ROAD will transform lives and trading patterns. To ensure the Initiative’s success, Belt and Road countries are keen to promote market integration and forge new ties among different economies. Existing bilateral and multilateral cooperation mechanisms will be used to accelerate the economic OVERVIEW integration of countries along the route and support growth in trade. The Belt and Road promises a wide array of benefits to billions of people — these are the principal objectives of this enterprise: Policy Coordination - Promote cooperation among all participating BRI governments - Construct an enduring platform for multilateral policy coordination Facilities Connectivity - Strengthen infrastructure planning and construction to achieve facilities connectivity Unimpeded Trade - Reduce and eliminate trade barriers - Foster the growth of Free Trade Agreements (FTAs) Financial Integration - Streamline multinational financing and investment links - Coordinate monetary policy to lower macroeconomic risks People-to-People Bonding - Promote academic and cultural exchange between Belt and Road nations - Foster cooperation and unity throughout participating countries 7 The Belt and Road promises a wide array of benefits to billions of people. 8 HONG KONG ADVantaGES 9 10 The international nature of the city’s legal profession makes Hong Kong an indispensable partner in the BRI “One Country, Two Systems” Robust Legal System International Financial Centre Under the “one country, two systems” Hong Kong has an independent and robust Hong Kong’s financial markets are principle, Hong Kong enjoys a double legal system. Practising the common law characterised by a high degree of liquidity advantage. Thanks to the “one country” system, a strong contingent of qualified without foreign exchange controls. Trading advantage, goods and services of Hong lawyers is on hand to facilitate all kinds is brisk on its stock, futures, gold and Kong can enter the Mainland market with of business transactions and resolve foreign exchange markets. Aligned with preferential treatment under the Mainland any disputes. According to the “2015 international standards, Hong Kong’s and Hong Kong Closer Economic International Arbitration Survey” published financial regulatory regime is effective Partnership Arrangement (CEPA) and other by Queen Mary University of London, and transparent. For decades, banks and preferential policies, whereas the the Hong Kong International Arbitration asset managers have been the lynchpin of “two systems” advantage enables Centre was rated the most preferred seat Hong Kong’s success as it ascended to its Hong Kong to maintain its internationally of arbitration outside Europe. Arbitration current status as a premier global financial compatible social, economic, legal and awards made in Hong Kong are enforceable powerhouse. 70 of the world’s 100 biggest judicial systems. in more than 150 jurisdictions under the banks have offices in Hong Kong, joining New York Convention (including a total of 150 foreign and local banks Competitive Free Economy Hong Kong’s major trading partners like licensed to operate here. During 2017, Hong Kong’s economic power and the United States, Japan, Singapore and corporates raised over US$16.5 billion in freedom represents the incredible potential South Korea) and in Mainland China Initial Public Offerings (IPOs), a figure that of human enterprise. Hong Kong has been in accordance with the “Arrangement vaulted Hong Kong to the fourth place of ranked for the 24th consecutive year as Concerning Mutual Enforcement of Arbitral the global IPO rankings2. the world’s freest economy by the Heritage Awards Between the Mainland and the Foundation1. Equally, the city welcomes HKSAR”. Furthermore, Hong Kong will Prime Location at the Heart of Asia businesses from every corner of the world- implement the Madrid Protocol in 2019, Strategically situated at the southern from establishing regional headquarters to enabling local trademark and patent coast of Mainland China, Hong Kong facilitating the trade of goods from Asia to applicants to enjoy IP protection in any is the perfect nexus to connect billions Africa, Europe to America, and as Madrid Protocol signatory nation with of people living in Mainland China and a gateway to the Mainland. a single registration. The international nature Southeast Asia. For over 150 years, traders, of the city’s legal profession makes Hong Kong merchants, and professionals of every an indispensable partner in the BRI. stripe have crossed paths in Hong Kong. Beijing, Shanghai, Bangkok, Singapore, Jakarta, Kuala Lumpur, Tokyo, Seoul, Taipei, Mumbai, Delhi are all accessible within five hours or less flying. 1 Hong Kong ranked world's freest economy for 24 consecutive years http://www.info.gov.hk/gia/general/201802/02/P2018020200484.htm 2 Source: Dealogic 11 Exemplary Infrastructure Hong Kong’s advantageous location is bolstered by a highly developed infrastructure that efficiently links both people and data. Hong Kong International Airport (HKIA) frequently earns “Best Airport in the World” awards. An established pioneer in mobile telecommunications, 5G mobile network standard is expected to blitz Hong Kong by 2020. World-Class Education Twenty institutes of higher education support Hong Kong’s position as a regional leader in learning and research. Hong Kong’s unique blend of East and West, rigorous academic standards, and proximity to Mainland China attracts students and scholars from all over the world. Three universities in particular are routinely ranked in the top fifty globally. Business schools in Hong Kong are renowned all over the world. 12 HONG KONG AND THE NATIONAL DEVELOPMENT AND REFORM COMMISSION 13 Hong Kong has an instrumental role in boosting the BRI. At the behest of President Xi Jinping, - Infrastructure and Maritime Services Hong Kong has an instrumental role in Assist Mainland entities “Go Global” boosting the BRI. The HKSAR’s robust in tandem with Hong Kong businesses, commitment to the rule of law, its experience and utilise Hong Kong’s insurance and in maritime trade and superb infrastructure — environmental control capabilities to all make the city an indispensable ally assist Mainland enterprises’ Belt and to the BRI. The relevant measures help Road projects. reinforce and elevate Hong Kong's position as international financial, transportation and - Economic and Trade Facilitation trade centres, promote partnership between Encourage Mainland businesses to the Mainland and Hong Kong enterprises, set up their regional headquarters in spawn the demand for Hong Kong's Hong Kong and exploit the city’s professional services, and present local experience in multinational operations talent with exciting opportunities. to maximise their contribution to the BRI. The agreement, signed in 2017 between the - People-to-People Bonds HKSAR and the National Development and Launch exhibitions and forums Reform Commission, encompasses every pertaining to the Belt and Road; push facet of the BRI and how Hong Kong forward with student exchange and deploys its capabilities to realise the working holiday programmes that “Vision and Actions on Jointly Building will help the young people of Silk Road Economic Belt and 21st Century Hong Kong understand the culture and Maritime Silk Road3.” There are six key business environment