This undated photo shows a view of the Victoria Harbor in Hong Kong. (PHOTO / CHINA DAILY)
Economic and trade cooperation between Guangdong province and Hong Kong Special Administrative Region has strengthened this year as businesses and people from the two sides have stepped up interaction since the border’s reopening.
A total of 2,099 Hong Kong-funded enterprises were set up in Guangdong province in the first quarter, according to official statistics. Guangdong’s actual use of capital from Hong Kong grew 5.3 percent year-on-year to 35.9 billion yuan ($5.2 billion) in the first three months, accounting for 67.8 percent of the total use of foreign capital in the province.
As of the end of last year, Guangdong’s cumulative number of enterprises with direct investment from Hong Kong reached 210,000, taking up 70 percent of its total foreign direct investment
As of the end of last year, Guangdong’s cumulative number of enterprises with direct investment from Hong Kong reached 210,000, taking up 70 percent of its total foreign direct investment.
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“Guangdong-Hong Kong-Macao Greater Bay Area stands in an important and strategic position in the country’s new development paradigm. For a long time, Guangdong and Hong Kong have maintained sound exchanges and cooperation in various fields, including capital, finance, talent and technology,” Stephen Liang, assistant executive director of Hong Kong Trade Development Council, said.
He made the remarks on Thursday at the press conference of SmartHK, an annual event organized by HKTDC that aims to enhance exchanges and promote economic and trade development between Hong Kong and Chinese mainland cities. This year’s event is scheduled to be held in Guangdong’s provincial capital Guangzhou on May 24.
Since the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area was promulgated over four years ago, the three parties have been making efforts to promote the efficient flow of capital, products and talent by improving the investment system, and to unleash the innovation vitality of the region, said Chen Yuehua, a high-level inspector of the Department of Commerce of Guangdong province.
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The department plans to organize 23 offline exhibitions in Hong Kong this year to offer more opportunities for businesses and people from the two sides, he said.