Hong Kong logistics firms welcome China’s opening
The Hong Kong Logistics Development Council, a public/private body in Hong Kong, has welcomed the signing of the Closer Economic Partnership Arrangement between Hong Kong and mainland China on June 29.
The council said that the agreement will bring “enormous business opportunities” to Hong Kong.
Under the partnership agreement, from Jan. 1, 2004, Hong Kong companies providing logistics, storage and warehousing, freight forwarding, road freight transport and maritime transport services will be allowed to set up wholly-owned enterprises to operate business in these sectors in the mainland.
“These offers will allow Hong Kong companies greater flexibility and business opportunities in the mainland,” the Hong Kong Logistics Development Council said.
Stephen Ip, Secretary for Economic Development and Labor of the government of Hong Kong and chairman of the Hong Kong Logistics Development Council, said that a seminar will be held on July 23 to brief logistics small and medium enterprises on the Closer Economic Partnership Arrangement and obtain their views.