Business ties: Secretary for Financial Services and the Treasury Frederick Ma calls on Canadian Federal Minister of Finance Jim Flaherty in Toronto.

Hong Kong is the supreme choice for setting up offices for investing on the Mainland, and to use as a channel for foreign businesses to invest in Mainland enterprises that are listed in the city.

This was the message from Secretary for Financial Services & the Treasury Frederick Ma, kicking off his North American visit yesterday by addressing a business forum at the Metro Toronto Convention Centre.

'Win-win-win' scenario

Mr Ma told the gathering that Hong Kong is a base for Canadian financial institutions to offer investment products and services to Chinese investors, and a channel through which investors worldwide can buy renminbi-denominated financial bonds when they become available later.

"The opportunities ahead for Canadian businessmen and investors are abundant and wide-ranging if you make use of Hong Kong as your base for expanding into the Mainland Chinese market. The outcome will certainly be a 'win-win-win' situation for you, China and Hong Kong," Mr Ma said.

The forum was aimed at helping Canadian companies, particularly small and medium enterprises, to expand business into China, and was organised by Invest Hong Kong, the Fujian Provincial Department of Foreign Trade & Economic Co-operation and the Hong Kong-Canada Business Association. It was the first Hong Kong-Fujian joint initiative in Canada.

Greater opportunity

In his keynote address, Invest Hong Kong Director-General of Investment Promotion Mike Rowse said the growing strength of the Pan-Pearl River Delta region, with its population of 450 million and GDP equivalent at 40% of China's total, is bringing even greater opportunity to Hong Kong-based companies.

"This enlarged market on our doorstep creates massive demand for world-class business and professional services, a sound and sophisticated financial system and strong international sales and marketing experience."

Deputy General-Director of Fujian Provincial Department of Foreign Trade & Economic Co-operation Zhang Qiu said there are 273 investment projects by Canadian companies in Fujian, involving an investment of US$283 million. As the economy continues to grow in China, business ties between Fujian and Canada will be closer, he added.