Finance chief reflects on recent trip to Shanghai and Nanjing, saying mainland firms increasingly view Hong Kong as platform for global expansion
Mainland Chinese firms at the cutting edge of technology are increasingly using Hong Kong as a “strategic adaptation ground” to transform themselves into multinational enterprises, the city’s finance chief has said.
“By bringing in international capital and talent, and by building brands and sales networks, they are turning overseas operations into a new engine of growth,” Chan wrote in his weekly blog.
“Executives in the technology sector further noted that their goal is to develop into multinational enterprises – meaning they aim to connect globally in terms of markets, capital structure, corporate governance, talent, as well as research and development alongside production and supply chains.”
Chan added that many mainland firms no longer picked Hong Kong solely for fundraising but as a “strategic adaptation ground” for international expansion.
Such moves reflected their trust in the city’s international investor network and recognition of its role as a platform connecting Chinese technological innovation with global capital.