Press Release 2007

Mainland officials explain the latest policy on processing trade
Friday, September 28, 2007

The Department of Foreign Trade and Economic Co-operation of Guangdong Province, the Commerce and Economic Development Bureau and the Trade and Industry Department of the Hong Kong Special Administrative Region Government (HKSARG) today (September 28) held a seminar on the latest policy on processing trade to update the trade on the latest Mainland policy measures. The seminar was well received by the trade, with more than 400 people attending.    

Speaking at the seminar, the Deputy Director-General of Trade and Industry, Mr Ngai Wing-chit said that some 46,000 processing trade enterprises were currently operated by Hong Kong businessmen in the Pearl River Delta area, employing several million workers. These Hong Kong enterprises not only contributed to the growth of Hong Kong's re-export trade, but also fostered the development of the service industry. The recent changes in the processing trade policy have brought challenges to these enterprises but are conducive to the long-term development of the processing trade.   

Mr Ngai said the HKSARG appreciated and supported the direction of Mainland's processing trade policy changes. He further encouraged individual enterprises, in accordance with their own circumstances, to consider and prepare for adjustment and upgrading, and to use this opportunity to upgrade both operational and technological level, develop their own brands and exploit Mainland markets to reposition their long-term business development. 

The Deputy Director General of the Department of Foreign Trade and Economic Co-operation of Guangdong Province Mr Wu Jun delivered the keynote speech. The Director of the Department of Foreign Trade and Economic Co-operation of Guangdong Province Processing Trade Division, Mr Wang Tao, gave an update on the implementation of the latest policy on processing trade. The Deputy Director of Processing Trade Management Division of the Guangdong Sub-administration, General Administration of Customs, Mr Huang Zu Huo, introduced the customs' enforcement measures in relation to the processing trade. The Deputy General Manager of the International Settlement Department, Guangdong Branch of the Bank of China, Ms Xiao Ping briefed participants on the arrangements for the standing book deposits.

The Hong Kong Economic and Trade Office in Guangdong was the special supporting  organisation of the seminar while the Hong Kong Trade Development Council, the Chinese Manufacturer's Association of Hong Kong, the Federation of Hong Kong Industries, the Hong Kong General Chamber of Commerce, the Chinese General Chamber of Commerce, the Hong Kong Chinese Importers' and Exporters' Association and the Hong Kong Exporters' Association were co-organisers.       

Ends