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Central government to help HK expand mainland market

(Xinhua)
Updated: 2009-03-10 15:19

BEIJING -- The central government is taking measures to help Hong Kong businesses tap mainland market as external demand weakening amid global financial crisis, China's Commerce Minister Chen Deming said Tuesday.

The central government would enable Hong Kong-funded companies engaged in processing trade to sell their export-oriented products on the mainland, he said at a press conference on the sidelines of the annual session of the National People's Congress, China's legislative body.

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As many such companies were registered in Hong Kong or other regions outside the mainland, they should take time to go through certain procedures, according to Chen.

These companies should also pay back customs rebates on imported equipments and materials before they could sell their products on the mainland, he said.

Chen, however, said the Ministry of Commerce has asked local bureaus to simplify and speed up the process.

To boost sale of Hong Kong goods on the mainland, the two sides would each send trade promotion teams to conduct negotiation at an appropriate time, he said.

The ministry would organize a procurement delegation to the Guangzhou trade fair in April, he said, calling on Hong Kong companies to seize the opportunity to bring their goods.

"Closer economic and trade ties between the mainland and Hong Kong will withstand the test of financial crisis," he said.

The mainland market, people and the central government would act as "solid supporters" for Hong Kong economy, he said.

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Central government to help HK expand mainland market