Commerce minister Algernon Yau has pledged to make Hong Kong a multinational supply chain management centre to attract more mainland firms to set up shop in the SAR.

Speaking at a ceremony on Monday, the secretary for commerce and economic development said his bureau was coordinating with relevant authorities to provide one-stop services for companies to come to the city.

"To facilitate the country's accelerated development of new quality productive forces, the SAR government is committed to building Hong Kong into a multinational supply chain management centre, attracting more mainland manufacturers to set up here, managing their offshore trade headquarters, providing comprehensive and complete professional services, and assisting firms to upgrade their supply chain and expanding overseas business," he said.

Yau said more than 700 firms have opened or expanded their business in Hong Kong since last year, bringing huge investment and employment opportunities.