Hong Kong to establish task force to support mainland enterprises overseas expansion

HONG KONG -- Hong Kong will set up a task force on supporting Chinese mainland enterprises in going global, John Lee, chief executive of China's Hong Kong Special Administrative Region (HKSAR), said while delivering his fourth policy address on Wednesday.

The HKSAR government will also establish a one-stop platform by mobilizing Hong Kong's overseas offices, as part of efforts to encourage mainland firms to use the city in expanding overseas business, Lee said.

Noting that mainland enterprises are accelerating their pace to "go global," the chief executive highlighted efforts to leverage Hong Kong's advantages as an export platform to unlock new areas for economic growth.

The HKSAR government will steer the task force and coordinate various bureaus, departments and agencies in formulating proposals for enterprises looking to go global, Lee said.

Measures to be introduced include encouraging banks to establish regional headquarters and attracting mainland enterprises to set up corporate treasury centers in the city, Lee said.

In 2024, Hong Kong was home to more than 1,400 regional headquarters of non-local enterprises, over 300 of which were from the mainland.