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Mme. Ma Xiuhong's portfolio covers the Department of Treaty and Law, Department of American and Oceanian Affairs, Department of Foreign Investment Administration, Investment Promotion Agency, China Association of Enterprises with Foreign Investment and China Council for International Investment Promotion.
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Chinese mainland's investment in HK reaches US$400 mln in first half
2004-09-28 10:59
Chinese mainland's direct investment in Hong Kong reached 400 million US dollars in the first half of this year, said Ma Xiuhong, vice minister of Commerce Friday.

She made the remarks here at an investment strategy forum. She said by the end of 2003, the total amount of Chinese mainland's investment in Hong Kong has reached 24.63 billion US dollars.

By the end of August, a total of 105 Chinese mainland enterprises have been listed or issuing shares in Hong Kong stock market, collecting a total of 32.86 billion US dollars.

Ma said all the facts proved that Hong Kong has been acting as both a platform for Chinese mainland's enterprises going to the international market and a platform for absorbing the Chinese mainland's capital.

Invest HK's Director-General of Investment Promotion Mike Rowsesaid Thursday that accumulated figures in the past years indicatedthat Chinese mainland is the biggest investor for Hong Kong.

A UN report released Thursday indicated that Hong Kong ranked second in terms of receiving foreign direct investment in the AsiaPacific region, next to the Chinese mainland.

She said, CEPA (Closer Economic Partnership Arrangement), whichopens 18 service and trade fields to Hong Kong investors, has beenimplemented smoothly in the first eight months this year. CEPA II,which was inked on Aug. 27, granted the opening of another eight fields to Hong Kong investors, including airport service, culture and entertainment sectors, she added.

Ma said her ministry is speeding up the drafting of relevant regulations for creating a better investment environment for Hong Kong investors. She said 450 of the world top 500 transitional corporations have invested in the Chinese mainland and 30 have established regional headquarters.

(Source: People's Daily)

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