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Economy

Symposium focuses on deepening cooperation between Beijing, Hong Kong

November 20, 2020


Abstract : The 23rd Beijing-Hong Kong Economic Cooperation Symposium opened online on Thursday in Beijing and Hong Kong simultaneously, attracting more than 300 professionals in the two cities to discuss deepening the high-quality cooperation between the two cities.

BEIJING, Nov. 19 (Xinhua) -- The 23rd Beijing-Hong Kong Economic Cooperation Symposium opened online on Thursday in Beijing and Hong Kong simultaneously, attracting more than 300 professionals in the two cities to discuss deepening the high-quality cooperation between the two cities.

The COVID-19 epidemic, while obstructing regular travel between Beijing and Hong Kong, cannot prevent the two places from deepening cooperation, Chief Executive of the Hong Kong Special Administrative Region Carrie Lam said. She added that expanded Beijing-Hong Kong cooperation would bring new opportunities and mutual benefits.

As both cities boast developed service sectors, Lam expressed optimism about cooperation in services. "Hong Kong professionals can make full use of their advantages during Beijing's service opening-up, helping Beijing and the entire Beijing-Tianjin-Hebei Region develop high-end services and attract more high-quality businesses."

Beijing and Hong Kong can also strengthen exchanges of technological talent to boost technological innovation, Lam said. More efforts can go into expanding cooperation in finance, law, and risk management and jointly exploring the Belt and Road markets, she added.

Beijing mayor Chen Jining said that despite COVID-19, hosting the symposium online fully demonstrated Beijing and Hong Kong's determination and confidence in deepening cooperation.

Chen said that the symposium has played an important role in broadening and deepening the economic and trade cooperation between Beijing and Hong Kong.

"Beijing and Hong Kong have their own advantages and are complementary," Chen said, adding that by building Beijing into a national comprehensive demonstration zone for expanding opening-up in the service sector and a free trade demonstration zone, authorities have created precious opportunities for deepening cooperation between Beijing and Hong Kong.

Chen added that Beijing will join hands with Hong Kong to bring their cooperation to the next level and better benefit the people of the two cities.

As of September, Hong Kong had set up 17,077 foreign-invested companies in Beijing, accounting for 36 percent of Beijing's total. Hong Kong's total paid-in foreign investment in Beijing exceeded 102 billion U.S. dollars or 52 percent of Beijing's actualized use of foreign capital. Meanwhile, Beijing's direct investment in Hong Kong amounted to more than 36.4 billion U.S. dollars or 47.32 percent of Beijing's total outbound direct investment. Enditem

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Keyword: Beijing Hong Kong

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