New Opportunities for Cooperation: Beijing Opening Up Services Sector
HONG KONG, Nov 27, 2015 - (ACN Newswire) - The 19th session of the Beijing-Hong Kong Economic Cooperation Symposium opened today at the Hong Kong Convention and Exhibition Centre (HKCEC). Under the themes of "Sharing Resources", "Two-way Investment", "Sharing Opportunities", and "Promoting Mutual Prosperity", the two-day symposium is centered around six areas related to Beijing's opening up of its services sector. These areas include science and technology, Internet and information services, culture and education, business and travel, financial services, and healthcare. Government officials, experts and entrepreneurs from both Beijing and Hong Kong are exploring new business opportunities arising from the pilot policy of opening up Beijing's services sector.
The guests of honour include Beijing Municipal People's Government Executive Vice Mayor Li Shixiang, Hong Kong Chief Executive CY Leung, and the Hong Kong Trade Development Council (HKTDC) Chairman Vincent HS Lo.
"As the Chinese mainland continues to push forward the Belt and Road development plan, I believe this will not only help the Chinese mainland companies to extend their business abroad, it will also give rise to new opportunities for the development of related Hong Kong services," said HKTDC Chairman Vincent HS Lo. "Hong Kong can contribute to the development of the Belt and Road Initiative as a local hub and super-connector, linking up services companies on the Chinese mainland, including those in Beijing, and overseas companies, leading to a win-win situation for everyone involved."
Mr Lo also mentioned that the Hong Kong government's new Innovation and Technology Bureau will formulate policies to promote the development of local IT industries and nurture talents. He believes the establishment of the Innovation and Technology Bureau will help the IT industries grow exponentially and foster cooperation between Beijing and Hong Kong.
Technology cooperation between Beijing and Hong Kong is already well-established. In 2013, the total revenue of Zhongguancun industrial area reached Rmb30 trillion. The 450 or so Hong Kong companies in Zhongguancun, with their total revenue exceeding Rmb200 billion, constituted about eight per cent of the total revenue in the zone, and about 30 per cent of that of all non-mainland companies. Hong Kong's capital market has also provided strong support to the whole of Zhongguancun, enabling the listing of companies such as Lenovo, Founder, Kingsoft, and Sinocom Soft on the Hong Kong stock exchange.
Jointly organised by Beijing Municipal People's Government, HKTDC, the Chinese General Chamber of Commerce, the Hong Kong General Chamber of Commerce, Federation of Hong Kong Industries, the Hong Kong Chinese Enterprises Association, and the Chinese Manufacturers' Association of Hong Kong, the main events of the symposium include seminars featuring business opportunities as well as thematic seminars on financial services, creative industries, cultural exchange and the development of the food and pharmaceutical industries.
Since 1997, the symposium has become an important annual platform to foster business cooperation between Hong Kong and Beijing. By September this year, a total of 13,946 Hong Kong companies had been set up in Beijing, with actual investment of US$43.27 billion, accounting for 43.3 per cent of the city's total foreign investment in use. Hong Kong ranks first among all countries and regions investing in Beijing. On the other hand, Beijing companies have been actively investing in Hong Kong. By September this year, Beijing's direct investment in Hong Kong reached US$8.6 billion, making up 45.5 per cent of the city's total overseas investment.
Another thematic event - Seminar on Business Opportunities Arising from the Liberalisation of Beijing's Service Industries and Briefing Session of the 4th China Beijing International Fair for Trade in Services will be held tomorrow morning. Beijing Vice Mayor Cheng Hong, Hong Kong SAR Financial Secretary John Tsang, HKTDC Executive Director Margaret Fong, and the Hong Kong General Chamber of Commerce Chairman YK Pang will attend the event and give speeches.
Representatives from the Beijing Municipal Commission of Commerce will introduce the latest pilot measures for the opening up of Beijing's services sector and major events of the 4th China Beijing International Fair for Trade in Services, while representatives from legal, logistics, supply chain management and cross-border e-commerce sectors from both Beijing and Hong Kong will explore the prospects of the cooperation between Beijing and Hong Kong under the new policy of opening up Beijing's services sector.
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About HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and services providers. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in overseas markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+, Twitter @hktdc, LinkedIn.
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Source: HKTDC
Contact:
HKTDC Communication and Public Affairs Department Joe Kainz Tel: +852 2584 4216 Email: joe.kainz@hktdc.org
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