ENG-2018 — Page 131

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Commerce and Industry

Participation in Belt and Road Initiative

The government adopts a whole-government approach and a five-pronged key strategy in the pursuit of the B&R Initiative, to establish Hong Kong as both a key link and the prime B&R service platform. The strategy comprises enhancing policy coordination, fully leveraging Hong Kong's unique advantages, making the best use of Hong Kong's position as a professional services hub, promoting project participation, and establishing partnership and collaboration.

In 2017-18, the government set up a joint conference mechanism with Mainland authorities in accordance with the Arrangement between the National Development and Reform Commission and the Government of the Hong Kong Special Administrative Region for Advancing Hong Kong's Full Participation in and Contribution to the Belt and Road Initiative, signed in end-2017, to follow up on the implementation of measures set out in the arrangement.

Enterprises and professional services are encouraged to form strategic partnerships to go global en bloc. During the year, the government organised a seminar, Strategies and Opportunities under the Belt and Road Initiative - Leveraging Hong Kong's Advantages, in conjunction with the Belt and Road General Chamber of Commerce at the Great Hall of the People in Beijing; co-organised with the Hong Kong Trade Development Council (HKTDC) the 3rd Belt and Road Summit; and held sharing sessions with the State-owned Assets Supervision and Administration Commission of the State Council and the Ministry of Commerce.

From time to time, the government and the HKTDC organise joint business and professional missions to B&R-related countries and regions. In March, the Secretary for Commerce and Economic Development led a 48-strong delegation to visit Cambodia and Vietnam.

The government equips the professional services sector to capitalise on opportunities and meet challenges brought by the B&R Initiative. In December, the Belt and Road Cross- Professional Advancement Programme was launched, spearheaded by the Hong Kong Polytechnic University with the support of professional associations and the Hong Kong Chinese Enterprises Association. The bureau held the Belt and Road: Hong Kong - IN forum on the same day.

Investment Promotion and Protection Agreements

Hong Kong has 20 investment promotion and protection agreements with 29 foreign economies to assure overseas investors that their investments in Hong Kong are protected and to enable Hong Kong investors to enjoy similar protection overseas. In 2018, Hong Kong concluded negotiations with Australia and the Maldives, continued negotiations with the Russian Federation and began negotiations with Turkey.

Trade in Goods

In 2018, the Customs and Excise Department carried out 28,808 factory and consignment inspections and concluded 141 investigations to ensure compliance with factory registration conditions and import and export licensing requirements. The department also conducted 42 blitz operations on consignments of goods at various import and export control points. It prosecuted 25 companies and eight offenders successfully, leading to fines totalling $290,000.

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