ENG-2005 — Page 147

Commerce and Industry 113

According to a survey conducted by the Census and Statistics Department, as at June 1, 2005, 3 798 companies outside Hong Kong had set up either their regional headquarters or regional offices in Hong Kong compared to 3 609 in 2004, an increase of 5.2 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 small and medium enterprises (SMEs), as well as the promotion of services industries. The branch is assisted by a number of departments, namely the Trade and Industry Department, 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 commercial relations of Hong Kong Special Administrative Region (HKSAR) with its trading partners, implementing trade policies and agreements, including issuing certificates of origin, export and import licences and certificates of Hong Kong service suppliers and providing general support services for the industrial sector and SMEs.

Invest Hong Kong

Invest Hong Kong is responsible for spearheading the Government's efforts to attract inward investment. Its head office in Hong Kong works closely with the Economic and Trade Offices and consultants engaged overseas 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, and on the Mainland and in the Asia-Pacific region through Hong Kong. Invest Hong Kong also provides information to help companies make informed investment decisions on setting up regional headquarters and regional offices in Hong Kong.

During the year, Invest Hong Kong assisted a record 232 foreign, Mainland and Taiwan companies to set up or expand operations in Hong Kong - an increase of 13.2 per cent over 2004. The total amount of investment generated exceeded $8.9 billion. A total of 2 517 new jobs were created in 2005, while these companies expect to create an additional 5 407 jobs in the next two years.

Invest Hong Kong has identified nine key business sectors in Hong Kong as particularly attractive to overseas investors: financial services; consumer, retail and sourcing; transportation; telecommunications; media and multimedia; business and professional services; information technology; technology (especially electronics and biotechnology); and tourism and entertainment.