Replies to initial written questions raised by Finance Committee Members in examining the Estimates of Expenditure 2012-13 Director of Bureau : Secretary for Commerce and Economic Development Session No. 12 File name : cedb(cit)- doc
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- Examination of Estimates of Expenditure 2012-13
Question: Will specific projects be launched in 2012-13 to promote Hong Kong as the preferred listing platform for state and local enterprises in other countries so as to make Hong Kong stock market even more international. If so, what are the work plan and estimated expenditure for these projects? If not, what are the reasons? Asked by: Hon. CHAN Tanya Reply: Invest Hong Kong’s (InvestHK) mission is to encourage and assist overseas and Mainland companies in setting up or expanding their business operations in Hong Kong. InvestHK also collaborates with other Government departments and relevant organisations on promoting Hong Kong as a global financial centre. In 2012-13, InvestHK will continue to work closely with the Hong Kong Exchanges and Clearing Limited, which promotes Hong Kong as a preferred listing centre for multinational companies, to introduce the business advantages of Hong Kong to international business sectors. InvestHK will also work in partnership with the Financial Services and the Treasury Bureau, the Hong Kong Monetary Authority and the Securities and Futures Commission to organise seminars and investment promotion visits in key markets overseas. As activities promoting Hong Kong as a preferred listing centre form part of the promotion programmes of InvestHK, the expenses on these activities cannot be separately itemised.
Question : Will the Administration set any benchmark on the growth in total foreign investments in 2012-13 for assessing the performance of the Department? If so, what are the details? If not, what criteria will be used for evaluating the effectiveness of the promotion projects the Department pursued? Asked by : Hon. CHAN Tanya Reply Invest Hong Kong (InvestHK) provides one-to-one facilitation service to encourage and assist overseas and Mainland companies in different target sectors in setting up or expanding their business operations in Hong Kong. Over the years, the number of companies which InvestHK has assisted continued to increase. InvestHK adopts the number of completed investment projects (i.e. investment projects resulting in overseas or Mainland companies setting up or expanding their business operations in Hong Kong with the assistance of InvestHK) as a key indicator to measure performance. In 2011, InvestHK helped 303 overseas and Mainland companies establish or expand their business operations in Hong Kong, exceeding the target of 290 completed investment projects for that year. In 2012, InvestHK has further raised the target of completed investment projects to 310.
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