Background on Hong Kong and Huizhou

About Hong Kong

Hong Kong plays a remarkable role as a place for multinational firms to access the strengths of the Greater-Pearl River Delta (PRD), China and the Asia Pacific region as a whole. In particular, its banking system, legal set-up, infrastructure and logistics are the top league by any standard. These advantages produce complementary strengths of Hong Kong and the rest of Greater PRD by inputting professional knowledge, management skills and international experiences.

In 2008, Hong Kong’s GDP grew by 2.5% and reached USD 215.2 billion. The total value of trade in goods was USD 752.3 billion in 2008 and direct investment inflow was USD 55.9 billion in 2007. It has consistently retained its position as Asia’s second-largest destination for FDI after the Mainland.

Hong Kong is the preferred location in Asia for regional headquarters and offices. As of June 2008, a total of 3,882 overseas companies had regional operations in Hong Kong. This breaks down to 1,298 regional headquarters and 2,584 regional offices.

The implementation of the Closer Economic Partnership Arrangement (CEPA) between the Hong Kong Special Administrative Region and the Central People’s Government further opens up new and exciting opportunities in the Mainland for both local and international companies and individual investors based in Hong Kong in the areas of trade in goods, trade in services, and trade and investment facilitation. It now provides preferential and accelerated market access to 40 key service sectors in the Mainland, as well as offering zero import tariffs on Hong Kong-made goods that meet the rules of origin.

About Huizhou

Located inside the PRD region, Huizhou is one of the fastest growing cities in China. According to the “Reform of the Pearl River Delta Region Development Plan” (2008-2020), Huizhou is formally incorporate into the Pearl River Delta Region and plays an important role in electronic components and petrochemicals. Its total industrial output value and GNP have been growing at an average rate of 30% and 16% respectively.  It has a diversified manufacturing economy that includes audio-visual equipment, electronic components and petrochemicals.  Huizhou is one of the world’s largest producers of laser diodes and is a world leader in the manufacture of DVD and VCD players.  A large number of leading international companies have established their production and R&D facilities in Huizhou.

From 1988 to 2008, the contractual and actual accumulative foreign direct investments in Huizhou have reached USD 23.6 billion and USD 15.7 billion respectively. Noteworthy, Huizhou has recently awarded as the “National Civilized City” which was a great compliment on Huizhou’s living and investment environment.

Huizhou Investment Guidebook(2009)