Hong Kong is a gateway between Middle East and China, says official

Inayat-ur-Rahman, Business Editor

Speaking at a forum titled “Hong Kong - The Common Law Gateway for UAE Businesses to China and Beyond” held in Dubai to promote the Special Administrative Region’s legal and dispute resolution services.  Paul Lam stated that Hong Kong has been assigned to be the international legal and dispute resolution services centre under various important national development plans of China.

The forum organised by the Department of Justice, the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Economic and Trade Office in Dubai, and co-organised by the Dubai Chambers, attracted more than 300 participants from the legal, business and other sectors of the UAE. The Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the UAE, Zhang Yiming; and the President and CEO of the Dubai Chambers, Mohammad Ali Rashed Lootah, delivered their speeches at the forum.

Paul Lam also held a meeting with Abdullah Bin Sultan Bin Awad Al Nuaimi, the Minister of Justice of the UAE, and discussed issues of mutual interests and explored opportunities to foster legal collaboration between the two places during the event.

“The UAE and China have a very strong history of friendship, dating back to the days of the ancient Silk Road. The modern Silk Road is under construction between the two countries. And in this very important construction work, Hong Kong plays a very significant role. Under the principle of “one country, two systems”, Hong Kong enjoys many unique advantages and characteristics, one of which is our common law system. Hong Kong is the only common law jurisdiction in China,” he said.

Paul Lam and his delegation is currently on a Middle East visit covering Riyadh in Saudi Arabia, and Abu Dhabi and Dubai in the UAE aimed to promote Hong Kong’s legal and dispute resolution services and enhance co-operation and exchanges between the two places. The 30-member delegation is comprised of representatives from the Law Society of Hong Kong, the Hong Kong Bar Association, the Hong Kong Exchanges and Clearing Limited, Invest Hong Kong and related sectors.

“We are here today to accomplish a very important mission. The mission is to promote and to establish a better and closer relationship between UAE and Hong Kong, in particular in the area of legal co-operation. This very important mission has to be considered in the context of Hong Kong being a special administrative region of China,”  Paul Lam added.

“Hong Kong is a gateway, which serves as a platform that can take you from your country to China. We can ensure that you will have fast, convenient and safe access to China. our legal system and our legal services can provide or act as a one-stop shop. We are ready, willing and able to provide top-quality, user-friendly and reliable legal services to enable you to explore business and investment opportunities, not just in Hong Kong, but in China as a whole,” he elaborated.

“Starting from the point you consider to set up a business venture in Hong Kong, using it as a platform for investing in China for example, to the point of time where you wish to expand your business by IPOs, and to the moment when, unfortunately, some disputes arise and you have to resolve your dispute, and to the point you decided to reap the profit or fruits of your investment by leaving or terminating the relationship. These are the sort of one-stop shop services that Hong Kong’s common law system can offer, which cannot be found elsewhere,”  Paul Lam further said.

At a plenary session titled “Hong Kong as an International Legal and Dispute Resolution Hub: A One-Stop-Shop for your Business Expedition”, the President of the Law Society of Hong Kong, Chan Chak-ming, discussed the ease of setting up a company and re-domiciliation of foreign companies in Hong Kong, featuring the city’s high quality legal services.

The Head of Listing of the Hong Kong Exchanges and Clearing Limited, Ms Katherine Ng, talked about the growth and maturity of a company including topics on raising capital and the opportunities in the mainland.

The Chairperson of the Hong Kong Mediation Council, Dr Christopher To, spoke on resolving legal disputes in Hong Kong through a wide spectrum of legal and alternative dispute resolution services the city provides. Lastly, the Chairman of the Hong Kong Bar Association,  Victor Dawes, SC, discussed the corporate restructuring means available for a company in Hong Kong and related issues.