The Government will expand Hong Kong's network of Economic & Trade Offices on the Mainland and overseas to promote Hong Kong’s strengths and advantages.
Delivering his 2017 Policy Address today, Chief Executive CY Leung said the Government will invite the Hong Kong Trade Development Council to strengthen overseas promotion of the city's financial services industry.
He said work to open an Economic & Trade Office (ETO) in Seoul is ongoing, with preliminary work underway to set up five new ETOs.
"We are commencing preliminary work to set up ETOs in five other countries, namely India, Mexico, Russia, South Africa, and the United Arab Emirates.
"The current-term Government has been taking forward the establishment of seven new ETOs, with the aim of taking the total number of ETOs from 11 to 18, an increase of over 60%.
"The Government is closely monitoring the impact of the UK's exit from the European Union. Invest Hong Kong and our ETOs in Europe will promote the strengths of Hong Kong to attract European businesses."
The Government has also been expanding its network of offices on the Mainland and enhancing their functions.
There is an office in each of the five Mainland regions; eastern, southern, western, northern and central.
"Over the past five years, we have established under these offices liaison units in Liaoning, Shandong, Hunan and Henan. By the middle of this year, we plan to set up liaison units in Tianjin, Zhejiang, Guangxi and Shaanxi, bringing the total number of liaison units to 11, compared with three before the current-term Government took office."
He said the National 13th Five-Year Plan gives clear support for Hong Kong to establish itself as a centre for international legal and dispute resolution services in the Asia Pacific region.
In this regard, the Government will create favourable conditions, improve supporting infrastructure and enhance co-ordination.
It will strengthen Hong Kong's status as an offshore renminbi business hub, taking advantage of the demand arising from the Belt & Road Initiative and the Mainland-Hong Kong Mutual Recognition of Funds Arrangement.
It will also strive to complete by mid-2017 the procedures for Hong Kong joining the Asian Infrastructure Investment Bank, he added.
