(From left) CSIC president Li Chang Yin; chairman of Hong Kong Shipowners Association and IMC Group of Companies W.K. Tsao; Investhk's Mike Rowse and deputy director, Liaison Office, Central People's Government in HKSAR, Guo Li at the opening of CSIC's Hong Kong office

Registered as China Shipbuilding & Offshore International (HK) Co. Ltd., the new Hong Kong operation is wholly-owned by CSIC's subsidiary China Shipbuilding & Offshore International Co. Ltd. (CSOC).

The chairman and president of China Shipbuilding & Offshore International (H.K.) Co. Ltd., Xu Ziqui, said that Hong Kong's shipping sector has played a very important role in the development of shipbuilding industries in China. With the closer economic relationship between Hong Kong and the mainland in recent years, shipping-related businesses between the two places have intensified. In particular, the number of shipbuilding and repair contracts for mainland shipbuilders from Hong Kong vessel owners has increased substantially.

According to Mr Xu, the new regional office in Hong Kong will play a key role in providing responsive and timely services to customers in Hong Kong and South East Asia. The office will also be responsible for providing detailed market analysis, to allow the management to plan strategies for future business expansion.

"Hong Kong is one of the world's largest trading and shipping centres. With its strategic location in the heart of Asia, the Hong Kong office will play a key role in connecting the company's network in the region. The new office will also enable us to operate more closely with the Hong Kong shipping sector to tap the huge business opportunities brought along by the rapid economic growth in the mainland," he noted.

"We are very excited about our expansion into Hong Kong. We believe that advantages of Hong Kong combined with the solid foundation of our company will strengthen our competitiveness in the global arena," said Mr Xu.

The Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse, said China Shipbuilding's choice of Hong Kong for its regional office confirms the leading position of Hong Kong as an international shipping centre. "Hong Kong's extensive and efficient port facilities are backed by top-quality trade, financial and other services," said Mr Rowse at the opening ceremony.

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