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Boosting domestic demand andaccelerating China’s economicshift will spearhead the CentralGovernment’s efforts to keep its economygrowing in the coming year.The Mainland aims to stimulate consumerconfidence through various socialsecurity schemes, speeding up the paceof “going out” and the development ofservices industries, according to officialsin Beijing. They also urge Hong Kongcompanies to proactively participate inthese developments to seize new businessopportunities.Speaking to members during theChamber’s China Committee missionto Beijing on April 27, senior officials inthe capital said many Mainland enterpriseslack international expertise, andHong Kong can play a role in pluggingthis shortcoming.Emil Yu, China Committee Chairmanand mission leader, said the visit was tremendouslyuseful in helping delegatesgain a sound understanding of macroeconomictrends following policy directionsunveiled in the NPC and CPPCCsessions earlier this year.“Officials discussed Hong Kong’s rolein the country’s future economic reforms.More importantly, through personalexchanges with local officials, businessesand professionals, members picked upsome ideas about how their companiesshould take advantage of the opportunitiesarising from the state’s efforts toexpand domestic demand,” he said.Zhou Liujun, Director of Departmentof Trade in Services and CommercialServices, Ministry of Commerce,pointed out that further liberalizingtrade in services, accelerating the goingout of service enterprises and encouraginginnovation in service industries arecentral to the Framework for Developmentof Trade in Services under the 12thFive-Year Plan, announced by the Ministryof Commerce last September. It isalso stepping up support for businessesto go global. He expressed his hopethat Hong Kong businesses, with theirinternational expertise, will partner withMainland enterprises to reduce their riskwhen engaging in overseas mergers andacquisitions.Li Lu, Vice Chairman of the All-ChinaFederation of Industry and Commerce,also emphasized that Chinese companiesexpanding overseas will require supportfrom different service sectors, and HongKong enterprises are perfectly positionedto capitalize on these developments.Chamber CEO Shirley Yuen said thatHong Kong has a long history of actingas a bridge between international andMainland companies.“In assisting Mainland companiesgo global, Hong Kong has been playingan important role in strategic planning,market research, intellectual propertyprotection, management, and financialand legal services,” she said. “Whilegoing global has now become a nationalstrategy, we believe cooperation betweenHong Kong and Mainland enterpriseswill deepen accordingly. The Chamberwill continue to provide an effectiveplatform for these enterprises.”Zhang Zhiyong, Chief Economist ofState Administration of Taxation introducedthe future direction of the state’sfuture tax reforms. He highlighted thatmore tax incentives will be provided formicro and small businesses, such as raisingthe value-added tax and business taxthresholds; and extending the schemeto cut corporate income tax by half formicro and small enterprises through2015, among others.Delegates also called on Pei Changhong,Director of Institute of Economicsof Chinese Academy of Social Science,and He Xiaofeng, Director of Financial& Industrial Development Institute ofPeking University, who provided an overviewof the Mainland’s macroeconomicand monetary developments. Theybelieve the economy will maintain steadygrowth this year, and future policies willfocus on protecting people’s livelihoodsand stimulation of domestic demand.LangfangThe delegation also visited Langfang,Hebei Province, to gain a deeper understandingof this famous city, which liesbetween Beijing and Tianjin, adjacentto the planned second airport for thecapital. Besides its strategic location,the city’s information technology, newenergy and food processing industriesare undergoing rapid development.Zhang Jinbo, Secretary of MunicipalCommittee of the CPC, Sanhe City andGu Zhengmei, Mayor of Sanhe City, tolddelegates that an airport for businessjets is under planning. They believe theproject will be significant to the area’sfuture development of aviation andservices industries.Members visit Langfang Project Centre.代 表 團 參 觀 廊 坊 項 目 中 心 。Delegates of HKGCC’s Mission to Beijing and Langfang posefor a group photo with Chief Economist, State Administrationof Taxation People’s Republic of China, Zhang Zhi Yong.總 商 會 北 京 及 廊 坊 訪 問 團 與 國 家 稅 務 總 局 總 經 濟 師 張 志 勇 合 照 。The Bulletin 工 商 月 刊 June 2012 67