Press Releases in Hong Kong

HK taking advantage of strengths in services

Hong Kong, with its services-based economy, wants to use its advantages to help push forward the country's development, a representative from the Hong Kong Trade Development Council said at the ongoing 2021 China International Fair for Trade in Services.

Jacky Chung, the council's director on the Chinese mainland, said that the service sector accounts for more than 90 percent of Hong Kong's GDP and the special administrative region boasts unique strengths in service trade development included in the national 14th Five-Year Plan (2021-25).

The development refers to innovating service trade, promoting the establishment of pilot platforms for the innovation and digitizing service trade. He said he hopes Hong Kong will further utilize its strengths, also one of the priorities in preparing the Hong Kong pavilion at the 2021 fair.

The Hong Kong Trade Development Council launched the GoGBA one-stop service platform in June in Shenzhen, Beijing-based China News Service reported. It offers information, training, consultation, activities and supporting platforms to help Hong Kong and foreign businesspeople seize the opportunities of the Bay Area and expand markets

The pavilion introduces Hong Kong's orientation in the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area and the professional services it can offer.

The Bay Area is a priority for Hong Kong's development. The council has set up a service center for the area in Shenzhen, Guangdong province and service sites for Hong Kong businesspeople in the province's Nansha, Zhongshan and Dongguan.

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The council launched the GoGBA one-stop service platform in June in Shenzhen, Beijing-based China News Service reported. It offers information, training, consultation, activities and supporting platforms to help Hong Kong and foreign businesspeople seize the opportunities of the Bay Area and expand markets.

The platform will also provide Shenzhen's companies with internationalized service plans and help to satisfy their needs for listing, financing and building factories overseas.

The Hong Kong pavilion is displaying 20 creative products and services that have won design awards, showcasing the city's strengths in commercial platforms and design.

The council plans further cooperation with provinces and cities in expanding the market for trade services and products in the Chinese mainland at this year's fair.

It wants to discuss with Beijing cross-border service trade cooperation as the latter develops the Integrated National Demonstration Zone for Opening up the Services Sector, which covers the whole city, and the China (Beijing) Pilot Free Trade Zone, covering an area of 119.68 square kilometers.

READ MORE: Beijing steps up efforts in service trade, FTZ

The council plans to sign a memorandum enhancing economic and trade cooperation between Tianjin and Hong Kong with the Tianjin Commission of Commerce and a framework agreement for furthering cooperation between Hong Kong and Heilongjiang province.

songmengxing@chinadaily.com.cn