Hong Kong’s Chief Executive, John Lee, affirmed on Thursday that Hong Kong stands ready to provide the necessary advantages for European Union (EU) companies to thrive within its borders and extend their reach into the expansive markets of the Chinese mainland and the broader Asian region.
Lee highlighted Hong Kong’s conducive business ecosystem, attractive taxation policies, unrestricted capital movement, diverse multicultural talent pool, and globally acclaimed professional services in a statement shared on social media.
Detailing a recent luncheon meeting with the EU office head in Hong Kong and 13 EU consuls general and representatives, Lee emphasized that he conveyed the Hong Kong Special Administrative Region (HKSAR) government’s perspectives on various pertinent matters.
The Significance of EU-Hong Kong Relations
Lee acknowledged the pivotal role the EU has played as a vital trading partner for Hong Kong. The EU ranks as the third-largest merchandise trading partner for Hong Kong, with trade volume amounting to 524 billion Hong Kong dollars (approximately 67 billion U.S. dollars) in 2022. Presently, Hong Kong hosts 1,600 EU companies, underscoring the strong economic ties between the two entities.
Strengthening Collaborative Efforts
Lee reiterated the HKSAR government’s commitment to fostering the trade and investment rapport with the EU. He affirmed the administration’s intent to enhance dialogue and partnership with both the EU office in Hong Kong and the consuls general representing EU nations. This multifaceted collaboration aims to bolster existing ties and cultivate new avenues of cooperation.
The economic synergy between Hong Kong, the EU, and the broader Asian market remains a testament to the city’s pivotal role as a bridge linking global businesses to the vast opportunities offered by the region.