The 21st Beijing-Hong Kong Symposium on Economic Cooperation (Beijing-Hong Kong Symposium) will be held in Hong Kong on Nov. 28-29. The symposium will include a series of economic, cultural, and technological exchanges between Beijing and Hong Kong, while over 300 programs are expected to be announced to promote the development of the two cities.
During a news conference held on Nov. 8, Su Hong, deputy director of the Beijing Investment Promotion Bureau, said that, since 1997, the Beijing-Hong Kong Symposium has successfully facilitated a significant number of programs that are in line with the strategic positioning and industrial development of the two cities. From the eighth symposium in 2004 to the 20th in 2016, Beijing had launched over 7,000 two-way investment programs; from the 12th symposium in 2008 to the 20th in 2016, 208 programs had been contracted with US$62.2 billion worth of investment, Su added.
The upcoming 21st Beijing-Hong Kong Symposium will be centered around programs of high-tech and cutting-edge advancement. The symposium will consist of 15 events, including the opening ceremony, high-level exchange activities, a technological cooperation fair, and a promotion roadshow of key investment opportunities such as the construction of Beijing’s subsidiary administrative center.
Wu Ziheng, chief representative of the Hong Kong Trade Development Council, said that with the symposium as a bridge, the past 20 years have witnessed an expansion of exchange from key economic area to talents, housing, healthcare, infrastructure, and cultural and creative industries between Beijing and Hong Kong. This year, the symposium will highlight the success of Beijing’s innovation and pilot programs in the service industry and discuss Hong Kong’s role in promoting trade in services with countries and regions along the Belt and Road. In addition, Beijing will share its experience on the construction and financing of Zhongguancun Science City, Huairou Science City, and Future Science City. The symposium will also feature entrepreneurs of innovative enterprises from Beijing and Hong Kong to talk about their experience in starting businesses.
Xu Zhijun, deputy secretary general of the Beijing Municipal Government, said that over 2,100 enterprises and institutions from Hong Kong have already expressed their intention in attending the symposium. During the preparation of the upcoming symposium, the Beijing Investment Promotion Bureau has facilitated 107 Hong Kong-invested programs each worth US$10 million or more, totaling US$5.65 billion.
By the end of this September, Hong Kong had set up 14,964 foreign-invested enterprises in Beijing, accumulating a total investment of US$59.13 billion, which accounted for 44.9 percent of Beijing’s foreign investment in actual use. At the same time, Beijing had invested US$26.34 billion in Hong Kong, accounting for 44.3 percent of Beijing’s outbound direct investment.