The heads of several international chambers shared their key takeaway messages from meetings with Central Government officials during HKGCC’s business mission to Beijing last month.
Speaking at a press conference on 24 November, the heads of the Italian, Canadian, British, European and German chambers in Hong Kong said they were appreciative of the Central Government’s efforts to engage with Hong Kong and international businesses operating here.
HKGCC Chairman Betty Yuen, who led the mission, said one of the main messages of the mission was that the “one country, two systems” principle would remain unchanged, providing great confidence for the city’s business community.
In a broader perspective, President Xi Jinping’s and U.S. President Joe Biden’s meeting at the APEC Summit in San Francisco indicated that cooperation was in their best interests. “This signals a positive outlook for Hong Kong as a super-connector between the Mainland and the world,” said Yuen.
With geopolitics reshaping the business landscape, it was suggested that instead of countries focusing on decoupling or de-risking, perhaps taking a debugging approach to identify problems and see how those can be removed from the relationship would be more useful for all parties.
Speakers also said the Chamber’s recent Business Prospects Survey showed that some businesses in Hong Kong are cautiously optimistic about growth, with 37% of respondents expecting an increase in turnover in 2024 compared to 2023.
However, since the survey was conducted in early November, before the notable warming in U.S.-China relations after the APEC summit, the prevailing sentiment could have potentially improved since then.
The talks with the Central Government during the two-day trip ranged from macro topics such as current geopolitics to matters closer to Hong Kong and its business community.
The international chambers said they would continue to stress the advantages Hong Kong offers under “one country, two systems” to their stakeholders in Europe and boost international perception of Hong Kong.
The mission to Beijing was a unique experience for many delegates, who saw first-hand the willingness of the Central Government to listen to the Hong Kong business community. There is also a lot of support for international businesses in Hong Kong as well as those looking to enter the Mainland.
Xia Baolong, Director of the Hong Kong and Macao Affairs Office of CPC Central Committee, told delegates that Hong Kong’s contribution to the nation, through its international talent, investment and capital, was key to China’s high-level opening up.
During meetings, it was also stressed that Hong Kong plays an important role in the overall development of China, especially as a gateway to the Greater Bay Area, which offers opportunities to investors. The international chambers said they were eager to continue cooperating and looked forward to more such exchanges.