ENG-2003 — Page 152

COMMERCE AND INDUSTRY

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According to the survey conducted by the Census and Statistics Department, on June 2, 2003, there was a total of 3 207 regional headquarters and regional offices in Hong Kong of companies incorporated outside Hong Kong. Compared with the corresponding figure of 3 119 recorded for 2002, there was an increase of 2.8 per cent.

The Institutional Framework

Commerce and Industry Branch

The Commerce and Industry Branch of the Commerce, Industry and Technology Bureau is responsible for the formulation and coordination of policies and strategies in relation to Hong Kong's external commercial relations, inward investment promotion and intellectual property protection. It also oversees the development of policies and programmes for the industrial and trade sectors, including SMEs, as well as the business and services promotion. The branch is assisted in its work by a number of departments, namely the Trade and Industry Department, the Invest Hong Kong, the Customs and Excise Department and the Intellectual Property Department. It is also supported by a network of Economic and Trade Offices outside Hong Kong.

Trade and Industry Department

The Trade and Industry Department is responsible for handling the HKSAR's commercial relations with its trading partners, implementing trade policies and agreements, including the issue of certificates of origin and export and import licences, as well as providing general support services for the industrial sector and SMEs.

Invest Hong Kong

Invest Hong Kong is the government department established on July 1, 2000 to spearhead Hong Kong's efforts to attract inward investment. Its Head Office in Hong Kong works closely with the Economic and Trade Offices and consultants in North America, Europe, Asia, Middle East, 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 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 January 1, 2003 to December 31, 2003, Invest Hong Kong assisted 142 foreign companies in completing 142 investment projects in Hong Kong, an increase of 21 per cent compared with 2002. The total amount of investment generated exceeded $2.49 billion, and over 2 400 new jobs were created.

Investment promotion activities included sponsoring and participating in several major international conferences. Business Week's CEO Forum in November featured