ENG-2014 — Page 127

5

Commerce and Industry

Under the Hong Kong Authorised Economic Operator (AEO) Programme, local companies that satisfy pre-determined security standards may be accredited by the department as AEOs and can enjoy customs facilitation, including less inspection and prioritised clearance of their goods. To provide AEOS with similar benefits outside Hong Kong, the department concluded mutual recognition arrangements (MRAs) on schemes similar to the AEO Programme with the customs administrations of the Mainland, India, Korea and Singapore. Bilateral MRA discussions with the customs administrations of Hong Kong's other principal trading partners are under way.

The department co-operates with other customs administrations and law enforcement agencies and regular bilateral meetings are held with the Mainland and other customs authorities to exchange intelligence and experience on enforcement. The department has also concluded bilateral co-operation arrangements with a number of customs administrations.

Inward Investment Promotion

In 2014, despite the ongoing challenges in the global economy, Invest Hong Kong assisted a record 355 overseas, Mainland and Taiwan companies in setting up or expanding operations in Hong Kong involving direct investment of some $8.9 billion and the creation of over 2,600 new jobs within the first year of their operation/expansion3.

Invest Hong Kong organised or sponsored a range of activities in 2014, including the Asian Financial Forum, Art Basel, 'Think Global, Think Hong Kong' promotion in Paris and Milan, Asian Venture Capital Journal Private Equity and Venture Forum, Super Return Asia, and the Cable and Satellite Broadcasting Association of Asia Convention. In addition, Invest Hong Kong organised joint investment promotions with Guangdong Province, Guangzhou, Jiangmen, Macao, Zhaoqing and Zhuhai in Barcelona, Lyon, Mexico City, San Francisco, Vancouver and Taipei to promote the advantages offered by the economic integration of Hong Kong and the Mainland.

Invest Hong Kong has also organised a series of promotional programmes in high-growth Mainland cities including Chongqing, Guiyang, Hangzhou, Hefei, Nanjing, Quanzhou, Shijiazhuang, Tianjin, Wuxi, Xian and Yinchuan so as to promote Hong Kong as the ideal platform for Mainland companies to go global and to identify Mainland companies with potential to invest in Hong Kong. Invest Hong Kong completed 75 projects from the Mainland in 2014, representing 21 per cent of the total number of Invest Hong Kong's completed projects.

In addition, Invest Hong Kong organised the second StartmeupHK Venture Programme in 2014 to promote Hong Kong as a leading hub for entrepreneurship, and to encourage innovative and scalable global startups to use Hong Kong as a launch pad to grow their businesses.

Industrial Policy

With the global centre of economic gravity shifting to Asia, and the implementation of the National 12th Five-year Plan ushering in a new wave of development for the Mainland

3

These represent the investment amount and job opportunities reported by the companies assisted by Invest Hong Kong. Not all of these companies disclosed the data.

91