China remains profitable for Hong Kong businesses

China still offers growth amidst adversity.

Hong Kong Chief Secretary Stephen Lam challenged Hong Kong businessmen to take fuller advantage of the benefits the Mainland provides in order to enhance the city's internal demand and promote Hong Kong as an offshore renminbi centre.

He said the government has a $1 billion fund to help Hong Kong's small and medium enterprises build their brands on the Mainland. Lam emphasized that the government will continue promoting Hong Kong as an offshore renminbi centre, enabling Mainland enterprises to be listed to raise funds.

There are encouraging opportunities for Hong Kong firms to take advantage of the Mainland's urbanisation process that will lead to further increases in internal demand, he added.

Mainland authorities have forecast the country's economic growth to cool to 7.5% from 8%.