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Published: 17:15, November 29, 2023 | Updated: 10:49, November 30, 2023
Beijing, Hong Kong poised for deeper cooperation
By Liu Yifan in Hong Kong
Published:17:15, November 29, 2023 Updated:10:49, November 30, 2023 By Liu Yifan in Hong Kong

In this screengrab taken from a video from the official website of the Information Services Department, Chief Executive John Lee Ka-chiu speaks during the 5th Plenary Session of Hong Kong/Beijing Co-operation Conference in Hong Kong on Nov 29, 2023.

Hong Kong and Beijing will deepen ties in finance, education and youth development, with broad room for complementary advantages creating opportunities for win-win cooperation, Chief Executive John Lee Ka-chiu said on Wednesday. 

Beijing, the nation’s capital and political center, and the special administrative region - an open, diverse metropolis that blends Eastern and Western cultures - have distinctive positions and play important roles in promoting high-quality development in the new era, Lee told an annual flagship conference seeking closer cooperation between the two cities. 

The SAR has been the prime offshore fundraising hub for Beijing-based businesses. As of the end of September this year, there were 260 Beijing enterprises listed in Hong Kong, with a market capitalization of nearly HK$9.4 trillion ($1.2 trillion) and total funds raised exceeding HK$3.1 trillion, according to Lee. 

In a sign of the financial exchanges gaining pace, the China Beijing Green Exchange and the Hong Kong Stock Exchange on Tuesday signed a memorandum of understanding to enhance collaboration in the green finance and carbon markets

“I’m delighted that both regions will strengthen their complementary advantages and reciprocal resource sharing in the financial services and innovation fields, including cooperation in green finance and financial technology,” he said.

In a sign of the financial exchanges gaining pace, the China Beijing Green Exchange and the Hong Kong Stock Exchange on Tuesday signed a memorandum of understanding to enhance collaboration in the green finance and carbon markets.

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In education, Beijing and Hong Kong have been actively promoting educational exchanges and cooperation. These include encouraging collaboration among tertiary institutions, vocational training cooperation, establishing sister schools, facilitating teacher and student exchanges, and organizing various study tours.

“The HKSAR government will continue to support the Beijing-Hong Kong Universities Alliance in strengthening collaboration. We hope that universities in both regions will continue to leverage the alliance platform to promote exchanges and cooperation in areas like technological innovation, talent development and technology transfer,” Lee told the conference. 

Hong Kong Chief Executive John Lee Ka-chiu (center, back row); Zheng Yanxiong (right, back row), director of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region; and Yin Yong, mayor of Beijing; witness the signing of the Co-operation Memorandum of the Fifth Plenary Session of the Hong Kong/Beijing Co-operation Conference on Nov 29, 2023. (PHOTO PROVIDED TO CHINA DAILY)

Youth development will also be a key focus in deepening Beijing-Hong Kong collaboration. Both sides will further strengthen youth development efforts, support internship programs for Hong Kong youth in Beijing, and provide support services for young Hong Kong people in entrepreneurship in the capital.

READ MORE: HK launches scheme to fund youth exchange in mainland

“Through these efforts, we aim to cultivate a new generation of Hong Kong youth who are patriotic, have a global perspective, possess aspirations, and demonstrate positive thinking. We will fully support the active integration of youth from both regions into the overall national development,” Lee said.

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