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Commerce and Industry

Local companies that satisfy the department's security standards may be accredited under the Hong Kong Authorised Economic Operator Programme and enjoy customs facilitation, including reduced inspection and prioritised clearance of their goods in Hong Kong and in economies with mutual recognition arrangements with Hong Kong. As at December, these economies included the Mainland, Australia, Canada, India, Israel, Japan, Korea, Malaysia, Mexico, New Zealand, Singapore and Thailand.

The department shares intelligence and enforcement experience with other law enforcement agencies. It also maintains bilateral cooperation arrangements with a number of customs administrations.

Participation in Belt and Road Initiative

The government adopts a whole-government approach and a five-pronged key strategy in pursuit of the Belt and Road (B&R) Initiative, to further consolidate Hong Kong's position as both a key link and the prime B&R 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 June, the government launched the Innovation and Technology Inventions Experience Sharing and Business Promotion Platform to share with overseas partners Hong Kong's innovation and technology products, relevant experience and related professional services in combating the pandemic and addressing livelihood needs. Webinars were jointly organised with the governments of Indonesia, Malaysia and Thailand to explore new opportunities and challenges.

In August, the third joint conference was held virtually between the HKSAR Government and the Mainland authorities to follow up on the implementation of measures set out in 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 2017.

At the fifth B&R Summit on 30 November and 1 December, jointly organised by the government and the Hong Kong Trade Development Council, over 6,000 government officials, entrepreneurs and professionals from around 80 countries and regions signed up to participate online, and some 700 one-on-one business matching sessions were arranged for over 240 projects at the summit.

Inward Investment Promotion

In 2020, InvestHK helped 317 overseas and Mainland companies set up or expand operations in Hong Kong, involving direct investment of more than $18.1 billion and the creation of about 8,000 new jobs within the first year of their operation or expansion3.

3

As reported by some of the companies assisted by InvestHK. Not all the companies disclosed their data.

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