ENG-2001 — Page 147

COMMERCE AND INDUSTRY

efforts to attract inward investment. Its Head Office in Hong Kong works closely with the Economic and Trade Offices in North America, Europe, Asia and Australia to offer solution-oriented investment promotion, facilitation and after-care services to ensure that foreign companies have the support required to establish or expand their operations in the HKSAR, the Mainland and the Asia-Pacific region. Invest Hong Kong also provides information to facilitate the making of informed investment decisions by investors in setting up regional headquarters and regional offices in Hong Kong.

Invest Hong Kong adopts a proactive investment promotion strategy by focusing on economic sectors where Hong Kong has an edge over other Asian cities. The targeted sectors are financial services, trade related services, transportation, telecommunications, media and multimedia, business and professional services, information technology, technology (especially electronics and biotechnology), and tourism and entertainment. In addition, Invest Hong Kong seeks to strengthen its after-care service with a view to retaining and expanding investments already made. From July 1, 2000 to December 31, 2001, Invest Hong Kong assisted foreign companies in completing 122 investment projects in Hong Kong. The total amount of investment generated exceeded $4 billion, and over 1 700 new jobs were created.

During the year, Invest Hong Kong took part in two major events to underline Hong Kong's advantages as an international financial and business centre, and to strengthen business links. It was the host sponsor of the 7th Fortune Global Forum held from May 8 to 10. Some 600 high-level delegates and government officials attended the forum. Forty-four of the Fortune Global 500 companies and 137 Hong Kong companies took part, along with 75 enterprises from the Mainland and 10 from Taiwan.

Invest Hong Kong also participated in the BT Global Challenge Yacht Race 2000-2001 as a sponsor of the Spirit of Hong Kong, a 72-foot racing yacht built in the Mainland by a Hong Kong company. The event not only helped build up positive public relations and publicity for Hong Kong and Invest Hong Kong, but also brought in new investment.

Hong Kong Economic and Trade Offices

The Hong Kong Economic and Trade Offices seek to promote economic and trade interests by enhancing understanding of the HKSAR among opinion-formers; closely monitoring developments that might affect the HKSAR's economic and trading interests, such as proposed legislation; and liaising closely with the business and commercial sectors, politicians and the news media. They also organise events to promote Hong Kong's image. In addition, most of these offices seek to attract direct investment into Hong Kong.

The offices are located in Brussels, Geneva, London, New York, San Francisco, Singapore, Sydney, Tokyo, Toronto and Washington.

The Brussels Office represents Hong Kong's economic and trade interests in dealings with the European Union (EU). It also monitors and promotes bilateral relations with the EU and its member states except the United Kingdom.

The Geneva Office represents Hong Kong, China, as a member of the WTO. It also represents Hong Kong as an observer on the OECD Trade Committee in Paris.

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