The Legislative Council passed the non-binding legislator motion "giving full play to the role of Chinese-funded enterprises and promoting Hong Kong's integration into the overall development of the country" proposed by business (third) member Yan Gang this morning (7th). A number of legislators praised the tremendous contributions made by Chinese-funded enterprises to Hong Kong before the handover, and Hong Kong should better cooperate with Chinese-funded enterprises. The MP for Architecture, Surveying, Town Planning and Landscape, Mr Tse Wai-chuen, also pointed out that the development of Chinese enterprises in Hong Kong has been hampered by some outdated systems left over from the colonial era and the political bias of some people.


A number of Members pointed out that Chinese enterprises have made significant contributions to Hong Kong's development

Xie Weiquan advocated that national standards can be introduced for approval

Councillor Tse Wai-chuen, Councillor for Architecture, Surveying, Town Planning and Landscape, said that Chinese enterprises had extensive operations in Hong Kong long before the handover, but due to some outdated systems left over from the colonial era and political bias among some people, the development of Chinese enterprises in Hong Kong has been constrained. He pointed out that in order to give full play to the role of Chinese-funded enterprises, the government must review outdated and unreasonable systems and procedures, and should not only refer to whether they have obtained certification from European and American countries in terms of new technologies, designs, and even building materials, but also ignore the national standards and application experience formulated by the country, so as to make better use of the technological and production capacity advantages of Chinese-funded enterprises.

According to the latest statistics released by the Ministry of Commerce, China's direct investment flow to Hong Kong reached US$4 billion last year, exceeding that of all other countries and regions.

DAB Councillor Chan Hak-kan said that with the process of the country's reform and opening up, more and more Chinese-funded enterprises have come to Hong Kong for development, injecting strong impetus into Hong Kong's economy, and the importance of Chinese-funded enterprises is self-evident. He also pointed out that during the epidemic, Chinese enterprises have sent a lot of supplies and medicines from the mainland, and 4,000 Chinese enterprises have responded to the action of fighting the epidemic together without laying off employees, injecting important strength into Hong Kong's social stability at that time. He believes that at an important historical juncture when Hong Kong is moving towards governance and prosperity, it is more necessary to work together with Chinese enterprises to find a new direction for the transformation of Hong Kong's structural industries and the improvement of people's livelihood and well-being.

Moody's downgrades the rating outlook of more than 40 Chinese companies, three barrels of oil and Alibaba and Tencent are on the list, Hong Kong's Chinese banks visit the Greater Bay Area, strengthen cross-border financial cooperation, Yu Weiwen, Xu Zhengyu led 40 senior executives of Chinese banks to visit the Bay Area, Hebei business, expand wealth management and data circulation, etc., the Hong Kong president of China Development Bank advocated that Chinese banks attract mainland enterprises, launched the Beidu innovation and technology project to lay the foundation, and the Hong Kong president of China Development Bank advocated that the government "control" the power company can appropriately use Chinese forces, nearly 8000 million shares of the Hong Kong Stock Exchange can be transferred from the United States to China, and the number of shares is similar to that held by the Hong Kong government