The Professional Services GoGlobal Platform, initiated by the Department of Justice with support from the Commerce & Economic Development Bureau (CEDB), was officially launched today, marking a new stage of collaborative support from Hong Kong’s professional services sector for Mainland enterprises going global.
Under the steer of Deputy Secretary for Justice Cheung Kwok-kwan, the platform implements an initiative announced in the Chief Executive’s Policy Address. He will work to promote Hong Kong’s legal services and collaborate with other professional service sectors such as accounting and finance to support Mainland enterprises with ambitions to expand overseas.
Mr Cheung said at a launch ceremony that professional services firms in Hong Kong are renowned for their international outlook, uncompromising professional standards and nuanced understanding of both Chinese and global contexts, and can offer Mainland enterprises comprehensive support.
Since the establishment of the CEDB’s Task Force on Supporting Mainland Enterprises in Going Global (the GoGlobal Task Force), many Mainland enterprises have expressed a strong desire to use Hong Kong as a “launchpad” for global expansion, he added.
The goal of the Professional Services GoGlobal Platform is to collaborate with the Trade Development Council in building a deeper and broader cross-professional services platform, enabling enterprises to enjoy a customized experience.
It will provide useful reference material for Mainland enterprises by integrating information related to Hong Kong’s professional services, including their previous successes in supporting Mainland enterprises expanding overseas. It will also publish lists of professional services providers supporting overseas expansion, facilitating precise connections between Mainland enterprises and Hong Kong’s providers.
Mr Cheung added that to promote the platform’s work and provide a source of strategic advice, the Department of Justice will establish the Expert Committee on Professional Services for Going Global, consisting of Mainland and Hong Kong experts from the legal, financial, accounting and business sectors.
Highlighting that matching Mainland enterprises with Hong Kong professional service firms is a common goal of the GoGlobal Task Force and the platform, Mr Cheung said the latter will bring the city’s firm’s together to support enterprises going global while the task force will directly engage with Mainland enterprises, serving as a pivotal contact point for them to leverage Hong Kong as a launchpad.
Secretary for Commerce & Economic Development Algernon Yau said at the ceremony that as a “super connector” and “super value-adder” connecting the Chinese Mainland and the world, Hong Kong possesses unique advantages.
He said the city can assist Mainland enterprises in expanding their business overseas and addressing various challenges and difficulties they may encounter when going global, such as cross-border capital management, risk management, laws and regulations, cultural differences and talent recruitment.
At the launch ceremony, Dr Cheung released the inaugural edition of the Collection of Success Stories: Hong Kong’s Professional Services Supporting Chinese Mainland Enterprises Going Global, which includes case studies spanning various professional domains across different industries and investment locations.
