Hong Kong Introduction Office: A new batch of key enterprises will be announced on October 22, and 10 to 20 companies are expected to settle

Zhitong Finance App learned that Ren Jingxin, director of the Hong Kong Key Enterprises Office (Introduction Office), revealed on a radio program that the Introduction Office will announce the list of a new batch of key enterprises and hold a signing ceremony on October 22. It is expected that 10 to 20 companies will settle in Hong Kong, with overseas and mainland companies each accounting for half. Many of them are leading companies with a market capitalization of over 100 billion yuan.

Ren Jingxin pointed out that many foreign visits and promotions by government officials, combined with established enterprises using their own successful experiences as publicity, have made “the snowball roll bigger and bigger,” and more overseas companies affirm Hong Kong's core strengths. Many key enterprises are also driving upstream and downstream of the industrial chain to Hong Kong when they settle in. For example, in addition to acquiring local supermarket chains and investment properties, large mainland e-commerce enterprises also cooperate with local developers to develop the Hung Shui Qiao area and bring other partners to Hong Kong, creating a win-win situation. It is expected that the ratio of overseas and mainland enterprises will continue to be 1 to 1 in the future.

He said that there are more than 100 companies currently being contacted, but stressed that it is not the intention to come to Hong Kong to settle down. When selecting enterprises, the Introduction Office does not simply decide on the size of the company, the amount of investment, or the amount of employment opportunities created. The most important thing is whether it can connect with Hong Kong's industrial policy, help the development of the industrial ecosystem, and drive upstream and downstream enterprises to come to Hong Kong. Some cases are discussed for almost a year before implementation. The authorities require settled enterprises to submit a 5-year plan, showing specific investments, jobs created and the first benchmark project, so as to closely follow up and match resources.

Asked whether enterprises will have a punishment mechanism if they fail to meet the standards, Ren Jingxin said that the introduction office has a normalized follow-up mechanism, but government funding schemes generally require enterprises to meet specified goals before issuing subsidies; there is no need to establish hard penalties.