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China gateway role helps lure $162b in funds

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Foreign direct investment in Hong Kong reached HK$162.2 billion in the first nine months of last year, according to the Census and Statistics Department.

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Invest Hong Kong, the official investment promotion body, helped 99 foreign companies set up or expand local operations last year, generating an investment of HK$3.5 billion and creating more than 1,500 jobs.

Mike Rowse, director-general of investment promotion for Invest Hong Kong, said the figures indicated Hong Kong was still a preferred location for regional headquarters.

'More multinational corporations have been capitalising on our unique position as the gateway to China and establishing a business presence here. I think the interest will be sustained,' Mr Rowse said.

The number of regional headquarters rose 10.4 per cent to 944 in the 12 months to June, while that of regional offices climbed 6.8 per cent to 2,293, according to a survey by the census department released in November.

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Mr Rowse said there was a global trend among companies to streamline operations in light of the economic downturn.

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