XN000022-1990-08-27 — Page 2

MONDAY, AUGUST 27, 1990

1

HK'S POSITION AS REGIONAL CENTRE FOR OVERSEAS COMPANIES

*

++

IMPORTANT

REGIONAL

HONG KONG IS BECOMING AN INCREASINGLY CENTRE FOR OVERSEAS COMPANIES, THE DIRECTOR OF INDUSTRY, MR T.H. BARMA, SAID TODAY (MONDAY).

MR BARMA WAS COMMENTING ON FIGURES RELEASED BY HIS WHICH SHOW THAT, OF THE 3,195 IDENTIFIED OVERSEAS COMPANIES KONG, 572 ARE REGIONAL HEADQUARTERS.

"BETWEEN 1985 AND 1989, AN AVERAGE OF 59 NEW HEADQUARTERS WERE SET UP IN HONG KONG BACH YEAR, HE SAID.

1+

DEPARTMENT

IN

HONG

REGIONAL

REGIONAL

"DESPITE THE IMPACT OF RECENT EVENTS IN CHINA, 22 NEW HEADQUARTERS WERE ESTABLISHED IN THE SECOND HALF OF 1989 AND, IN THE FIRST THREE MONTHS OF 1990, 18 WERE ESTABLISHED."

AS

AS

AS LITTLE INFORMATION WAS AVAILABLE ON HONG KONG'S POSITION A REGIONAL CENTRE FOR OVERSEAS COMPANIES, THE INDUSTRY DEPARTMENT

ΤΟ CARRIED OUT A FACT-FINDING SURVEY EARLIER THIS YEAR

IDENTIFY, FAR AS POSSIBLE, ALL OVERSEAS REGIONAL HEADQUARTERS IN HONG KONG, TO OBTAIN CERTAIN BASIC INFORMATION ABOUT THE COMPANIES CONCERNED,

AND

"THE NUMBER OF OVERSEAS COMPANIES SETTING UP REGIONAL HEADQUARTERS HERE IS EVIDENTLY GREATER THAN THE NUMBER REPATRIATING -

OPERATIONS TO THEIR REGIONAL

HEADQUARTERS OR

то RELOCATING CITIES IN THE REGION," MR BARMA SAID.

OTHER

WHICH EIGHT ARE

"THE SURVEY HAS IDENTIFIED ONLY 29 REGIONAL HEADQUARTERS HAVE BEEN MOVED FROM HONG KONG SINCE 1980 AND, OF THESE, NOW REPORTING DIRECTLY TO THEIR PARENT COMPANIES OVERSEAS.

COMPANIES HAVE INFORMED REGIONAL HEADQUARTERS IN

HE SAID.

OVERSEAS "ON THE OTHER HAND, 43

UP NEW THAT THEY HAVE PLANS TO SET KONG,

US HONG

OF

MR BARMA SAID THE MAIN COUNTRIES WHERE THE PARENT COMPANIES THE REGIONAL HEADQUARTERS WERE INCORPORATED INCLUDED THE USA (252 COMPANIES), THE UK (77 COMPANIES),

COMPANIES), NETHERLANDS (31 COMPANIES), AND FRANCE (29 COMPANIES).

SWITZERLAND

THE

(34

JAPAN (20

COMPANIES)

DID NOT NEED MANY OFFSHORE REGIONAL HEADQUARTERS WITHIN THE ASIAN REGION, HE SAID.

THE MAIN

ECONOMIC SECTORS

TRADING, FOLLOWED BY WHOLESALE FINANCE, AND SHIPPING.

AND

THESE COMPANIES

RETAIL. BANKING, MANUFACTURING,

FALL

UNDER

ARE

MR BARMA SAID THE SURVEY ALSO ASKED A COMPANY TO GEOGRAPHIC AREA FOR WHICH IT HAD INDEPENDENT OPERATION OF OTHER OFFICES IN THE REGION.

INDICATE THE

OVER CONTROL

THE

A TOTAL OF 251 COMPANIES HEADQUARTERS FOR THE ASIAN PACIFIC

ASIA; AND ASIA; 114 FOR SOUTHEAST REPUBLIC OF CHINA, TAIWAN AND HONG KONG.

SAID THAY WERE REGION: 160 COMPANIES

47 COMPANIES FOR THE

THE

FOR

REGIONAL EAST

PEOPLE'S

MR BARMA