HK to open up trade ties with Africa: commerce chief
Commerce secretary Algernon Yau on Wednesday said foreign businesses remain confident in Hong Kong's business environment, with the number of non-local companies setting up in the city reaching a record high. Speaking on an RTHK programme, Yau said the total number of parent companies based outside Hong Kong that have established operations here has been on the rise and has exceeded 10,000. The…
Hong Kong's commerce chief, Algernon Yau, announced plans to expand trade ties with African countries following successful connections with the Middle East and Central Asia. Speaking on an RTHK programme, Yau highlighted that the number of non-local companies operating in Hong Kong has reached a record high, with over 10,000 parent companies based outside the city.
Despite geopolitical challenges, Yau emphasized Hong Kong's continued appeal to foreign investors. He outlined intentions to establish economic and trade routes with Türkiye and Egypt in January of the following year, hoping to connect with African countries thereafter. Yau stated that authorities would evaluate business opportunities and risks in these new markets to facilitate smooth overseas operations for enterprises.
Additionally, promoting mainland firms to go global would generate more job opportunities in Hong Kong and boost the city's trade, finance, and legal services. Yau also noted Hongkong Post's ongoing losses due to the rise of e-commerce and shifts in consumer habits, and pledged to review the organization's operation to restore its financial stability.
Written by urgent.news from RTHK News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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