The China-Britain Business Council (CBBC) and Hong Kong Trade Development Council (HKTDC) have begun an exciting new era of cooperation by signing a Memorandum of Understanding (MoU) on 19 May 2016. The signing comes after the successful Belt and Road Summit on May 18 in Hong Kong, organised by HKTDC, in which CBBC participated.
The partnership has been made with the hope that Hong Kong’s strategic regional position to significantly increase the number of British Companies that CBBC helps to make business connections and inroads into Hong Kong, mainland China and other Asia-Pacific markets. The MoU will incorporate high-value infrastructure projects, as well as prioritising a number of key sectors including creative and design, education and training, green and environmental technology, financial and professional services, food and drink, logistics and maritime services, life science, and retail and luxury.
Stephen Phillips, chief executive at CBBC said, ‘Hong Kong’s location, familiar administrative and legal environment, access to financing, navigable tax regime, and strong record on intellectual property make it a perfect first stop for UK companies exploring the wider Asian market.’
Clare Wong, assistant executive director at HKTDC said, ‘HKTDC and CBBC have complementary skills, expertise and experience. This MoU recognises the many ways in which we can work together to mutual benefit, and we now look forward to taking this partnership to a new level.”
Both sides will work on promotional programmes and outreach events, such as leverageing each others flagship events, trade missions, road shows, webinars, and seminars, to update British companies on business opportunities under the “Belt and Road Initiative” on the Chinese mainland, and other Asia-Pacific markets, and to promote Hong Kong as a commercial hub for British companies that wish to expand their business in Hong Kong, on the Chinese mainland, and in the broader Asia-Pacific Region.
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