Tan Yueheng, a Hong Kong member of the National Committee of the Chinese People's Political Consultative Conference, poses for a photo in front of the Great Hall of The People in Beijing, China, on March 3, 2024. (LIU YIFAN / CHINA DAILY)

Greater support is needed to attract Chinese mainland enterprises to establish branches in Hong Kong to take better advantage of the special administrative region’s unique role as a “superconnector” linking the mainland and the world, said Tan Yueheng, a Hong Kong member of the National Committee of the Chinese People’s Political Consultative Conference, the nation’s top political advisory body.

The proposal was put forward at the annual gathering of CPPCC National Committee, which kicked off in Beijing on Monday.

Some domestic and foreign companies are adopting a wait-and-see attitude on how to develop in Hong Kong in the face of changes in the global geopolitical landscape. Meanwhile, those who are interested in developing in the city lack knowledge of its industrial policies and support channels, he pointed out.

Citing the development of Pudong New Area in Shanghai as an example, Tan said Hong Kong could learn from Pudong’s experience.

He suggests that the central government, based on the Pudong’s development experience, supports State-owned and provincial enterprises and research institutions in the high-tech field to establish their international headquarters in Hong Kong.

At present, the total number of Chinese enterprises and their subsidiaries in Hong Kong exceeds 4,000, covering a wide range of business sectors including finance, construction, telecommunications, trading, logistics, technology and so forth

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“Enterprises are encouraged to take advantage of Hong Kong's universities, basic scientific research and internationalization to carry out innovative research and development, promote technological transformation and upgrading,” said Tan, who is also chairman of BOCOM International.

“At the same time, these enterprises can expand their international business, strengthen cross-border service management capabilities, enhance the integration of international industrial chain and supply chain functions, as well as optimize domestic and international market connectivity.”

To make it easier for Chinese mainland firms to operate in the SAR, Tan believes that setting up a sound communication and cooperation mechanism is vital. This can be achieved by organizing consulting meetings, seminars and field trips for enterprises and providing services to them such as for registration, license applications, policy interpretation and funding applications.

He also called on Chinese enterprises to do more in Hong Kong’s social services.

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Describing Chinese enterprises as the "main force" and "stabilizer" of Hong Kong's social and economic development, given their multiple advantages in terms of cross-regional resources and cross-system operation, Tan said they play an active role in promoting Hong Kong’s integration into the national development and ensuring the full and faithful implementation of the “one country, two systems” principle.

“More strategic, vigorous and in-depth participation of Chinese enterprises in Hong Kong's community affairs and promoting social and livelihood progress are conducive to their long-term development locally and to realizing a win-win situation in economic growth of enterprises and social development,” he said.

“It also helps to enhance the overall international image and influence of Chinese enterprises, convey Chinese values, and present a credible, lovely and honorable Chinese image to the world.”

Tan suggests that the management system of corporate social responsibility be improved as well as the feedback and supervision mechanism of its implementation.

“Enterprises’ performance in corporate social responsibility should be included in their KPI and incentives such as funds, taxes, preferential policy support in government procurement should be given to those who perform well in this field to prompt them to fulfill corporate social responsibility more actively,” he said.

Governments at all levels could initiate the establishment of venture philanthropy funds to guide Chinese enterprises to pour capital and human resources into carrying out various public welfare projects in poverty alleviation, medical care, child development, and more, he added.

At present, the total number of Chinese enterprises and their subsidiaries in Hong Kong exceeds 4,000, covering a wide range of business sectors including finance, construction, telecommunications, trading, logistics, technology and so forth.