Hong Kong promotes cooperation with Beijing

At the 2022 China International Fair for Trade in Services, which is underway in Beijing, Hong Kong is showcasing its financial expertise, technological achievements and friendly business environment.

The Hong Kong pavilion, set up in the China National Convention Center, is part of the fair's comprehensive exhibition. The pavilion features seven display sections including financial services, logistics services, intellectual property trade, the Belt and Road Initiative, and the development of the Guangdong-Hong Kong-Macao Greater Bay Area, according to the exhibitor, the Hong Kong Trade Development Council.

Exhibits are designed to display Hong Kong's remarkable advantages in finance, trade, technology and transport, along with its vital role for helping domestic enterprises enter overseas markets, the council said.

Visitors to the pavilion can play augmented reality-powered games to gain an understanding of Hong Kong.

In addition, four thematic seminars are being held in the pavilion from Thursday to Saturday, with the aim of promoting cooperation between Beijing and Hong Kong.

Official data showed that Hong Kong invested a total of $12.64 billion in the capital during the first seven months of 2022, up 40.6 percent year-on-year. Most of the investments were in information services and sci-tech services.

Hong Kong is also an important trading partner of Beijing, with a trade volume of 35.3 billion yuan ($5.11 billion) from January to July.

Beijing Vice-Mayor Yang Jinbai said the two cities have established extensive and effective cooperation in recent years with trade in services as a key field.

"We plan to combine more efforts in funding, talents and innovation in the future," Yang added.

During the seminar on Thursday, representatives from the Beijing-based Institute of Finance and Sustainability and globally leading consultancy PwC shared their opinions on the trends of green finance and ESG (environmental, social and governance) investment.

The seminar scheduled for Saturday afternoon will discuss new models of culture trade and explore the potential of cultural cooperation between the two cities, according to the council.

The Hong Kong Trade Development Council has participated in the annual CIFTIS since 2012 when the event was launched.

Jacky Chung, Chinese mainland director of the council, said that the fair is a favorable platform for Hong Kong, as its economic system is mainly dominated by the service industry.

"We hope to strengthen collaboration with the Chinese mainland via the event and better serve national development strategies," Chung said.

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