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Li Guoqiang, chief consultant of the Hong Kong Productivity Council, recently stated at the Guangzhou-Hong Kong-Macao Science and Technology Industry Development Forum held in Guangzhou that with the development of civilian cars in China, the space for development of auto parts and components will expand, creating great business opportunities for Hong Kong businessmen. The Bureau will organize Hong Kong businessmen in the second half of this year to look for business opportunities in China.
At the forum, one hundred and twenty experts from Guangzhou, Hong Kong, Macao and other places attended the event. Among them, Hong Kong experts had nearly 20 people to jointly discuss the development of automobiles and other industries. Li Guoqiang believes that according to China’s WTO accession agreement, the import quotas for automobiles will be abolished this year. Auto import tariffs will be substantially reduced to 25% next year, auto parts tariffs will be reduced to 10%, and China’s entire auto industry and parts industry will compete internationally. Seeking extensive global cooperation has become an unavoidable trend for the Chinese auto industry. When talking about domestic auto development opportunities in Hong Kong, Li Guoqiang believes that the spare parts will continue to rise in the auto repair and accessories market, bringing business opportunities to Hong Kong companies.