Related stories

Official: Bridge Linking Beijing and Foreign Business Communities Oriental Baby Eyes Hong Kong Strong Growth Marks Beijing and Hong Kong Tourism Cooperation Hand-in-Hand for Mutual Prosperity Ten Years' Cooperation between Beijing, Hong Kong Boundless Potential: Beijing–Hong Kong Cooperation Progresses

HKCCC Connects Hong Kong, Beijing

When Justin Ting Kwok Leung took over the Hong Kong Chamber of Commerce in China (HKCCC) in 2004, there were no more than 300 members. In just two years the number has grown to 896. Such progress in so short a time stems from HKCCC’s improving function as a bridge between the Hong Kong Special Administrative Region and the Chinese mainland.

Founded on April 21, 1993, in Beijing, the HKCCC has been playing a bridge role between Hong Kong and Beijing, driven by its tenet as to improve economic cooperation and cultural exchanges between Hong Kong and the mainland, to strengthen communication with local institutions and enterprises and to communicate with other countries’ chambers of commerce in China. Director Ting is confident that the HKCCC will become a powerful and fulfil its role.

As a bridge, HKCCC negotiates with government branches representing Hong Kong enterprises in Beijing. HKCCC maintains close contact with the Ministry of Civil Affairs of the People’s Republic of China, the China Council for the Promotion of International Trade (CCPIT), the Beijing Municipal Government. It strives to address its members’ needs and concerns, as in a recent case when lots of members raised questions about a regulation that required Hong Kong people working in Beijing to pay their own social insurance fees. The HKCCC immediately contacted the Ministry of Labour and Social Security and drew relevant departments’ attention to this issue.

Ting is presently occupied with concerns about the Ninth Beijing-Hong Kong Symposium on Economic Cooperation to be held in Beijing in November.

“It is a very important event, in which the HKCCC has been actively involved since the first symposium in 1997. All members in business circles have been invited, and HKCCC will spare no efforts in publicizing the symposium.”

A main topic of the Beijing-HK Symposium on Economic Cooperation is CEPA (Closer Economic Partnership Arrangement), which in Ting’s eyes has played an important role in the prosperity of both Beijing and Hong Kong.

“Actually many terms of CEPA excel the WTO greatly.”

In saying so, he gave an example of foreign investment banks. A foreign investment bank with assets of US$20 billion is permitted entry onto the mainland, while a lower limit for Hong Kong-registered banks is US$6 billion, which gives them access and, perhaps, a competitive advantage.

CEPA and the increasingly frequent cooperation between Hong Kong and Beijing, has helped revive Hong Kong’s economy.

“The situation in Hong Kong in 1997 was really frustrating. People with a strong sense of crisis wouldn’t even go to restaurants or shopping centres. They had cash but no confidence. Nobody bought real estate or stocks, making the whole market dead water. Now, Hong Kong has overcome the financial crisis, with all sectors of the market developing rapidly.”

Meanwhile, Beijing has also become more properous.

“I can feel great changes have taken place in Beijing myself. When I first travelled to Beijing in 1996, the traffic situation and living standards there were far worse than at the present. I could never have imagined that things would turn so much to the better. Every change is too fast to imagine.”

The increasing economic and cultural communication between Beijing and Hong Kong, and the healthy development of these two cities have brought HKCCC opportunities and challenges. Ting said Hong Kong businessmen should seize this good opportunity to consolidate and develop HKCCC’s function as a bridge connecting Beijing and Hong Kong. To this end, plans have been made to improve the communication between members and mainland enterprises and institutions.