Perspective of ASEAN Opportunities/Hong Kong Financial Center Firmly Welcomes Cambodian Enterprises' Financing

Photo: China's Ambassador Extraordinary and Plenipotentiary to the Kingdom of Cambodia, Wang Wenbin (right), met with Chief Executive Lee Ka Chiu John who visited Cambodia yesterday.

The Chief Executive led a delegation to Cambodia yesterday to continue the ASEAN visit. Lee Ka Chiu John met with Wang Wenbin, Ambassador Extraordinary and Plenipotentiary of China to the Kingdom of Cambodia, and later attended business activities, saying that Hong Kong is committed to working with Cambodia to make use of the unique economic advantages of the two places to promote common prosperity. At the same time, we will promote the advantages of international finance centre and welcome Cambodian enterprises to go public in Hong Kong to raise funds. Wang Wenbin believes that mutually beneficial cooperation between Cambodia and Hongkong will further promote Sino-Cambodian relations.

The Chief Executive's delegation ended its visit to Laos and left Vientiane, the capital of Laos, for Phnom Penh, the capital of Cambodia yesterday. Ambassador Wang Wenbin and Deputy Secretary-General of the General Secretariat of the Cambodian Development Council HOEURN Somnieng met them at the airport. Lee Ka Chiu John expressed his gratitude to the Embassy for its support for the exchanges between Hong Kong and Cambodia and its assistance to the local people. He looked forward to working closely with Ambassador Wang to further strengthen and promote the economic and trade relations between China, China, Hongkong and Cambodia.

Cambodia's strong economy attracts global investors.

Wang Wenbin revealed that an hour before Li Jiachao arrived in Bo, he met with the delegation of the Sharing Foundation led by Leung Chun-ying, Vice Chairman of the National Committee of CPPCC, describing Li Jiachao's visit to Cambodia with Leung Chun-ying at the same time, which showed that Hong Kong attached great importance to developing friendly cooperation with Cambodia and promoting Sino-Cambodian relations. Li Jiachao said that he led more than 30 representatives from different fields to visit this time, including industry and commerce, transportation and professionals, hoping to allow enterprises and companies to establish relations and explore business opportunities in Cambodia.

In addition, when attending the business dinner, Li Jiachao said that Cambodia's strong economic growth, providing a friendly investment environment for foreign investors and increasing investment in infrastructure are becoming an important participant in the regional economy. It is predicted that the manufacturing industry and the growing skilled labor force are very attractive investment destinations for global investors.

Faced with the broken supply chain and the regionalization of industry and trade, all localities should strengthen cooperation and jointly promote economic development. Hong Kong is committed to working with Cambodia to make use of the unique advantages of the two economies to promote common prosperity. Lee Ka Chiu John pointed out that under "one country, two systems", Hong Kong enjoys the unique advantage of relying on the motherland and connecting with the world. At the same time, Hong Kong maintains the rule of law and common law system, freedom of information, low tax rate and simple tax system, and is in line with international standards, providing a quality business environment for the business community.

In terms of financial services, Hong Kong is a testing ground for the gradual opening of China's financial market and the internationalization of RMB. 80% of offshore RMB transactions are conducted in Hong Kong, and products and risk management tools are diversified and liquid. Lee Ka Chiu John said that international finance centre's position remains stable, and Cambodian enterprises are welcome to make good use of Hong Kong's financial services, such as listing in Hong Kong to raise funds and issue bonds.

TDC plans to set up an advisory office in Phnom Penh.

Lin Jianyue, Chairman of the Hong Kong Trade Development Council, said that Hong Kong, as an international financial center, has a sound legal system and free flow of funds and goods, making it the first choice platform for Cambodian enterprises to enter the huge China market and Asian market. In order to strengthen exchanges between the two places, the TDC will set up an advisory office in Phnom Penh to promote economic and trade exchanges.

The Chief Executive's delegation will continue its visit to Cambodia today, meet with local political and business leaders and leave for Vietnam in the afternoon.