Published: 19:22, April 25, 2025 | Updated: 21:15, April 25, 2025
HK secures 12 investment deals with Ningbo-based companies
By Li Lei in Hong Kong
Hong Kong Chief Executive John Lee Ka-chiu (front row) speaks at the High-Level Meeting and the First Plenary Session of the Hong Kong/Zhejiang Co-operation Conference in Hangzhou on April 24, 2025. (PHOTO / HKSAR GOVERNMENT)

Hong Kong on Friday secured investment agreements with 12 Ningbo-based companies spanning aviation, technology, and supply chain management, as Chief Executive John Lee Ka-chiu wrapped up a four-day visit to Zhejiang province.

The deals, signed at a Hong Kong-organized investment conference in Ningbo, included partnerships with firms such as Lygend Resources — a Hong Kong-listed nickel producer crucial for electric vehicle (EV) batteries.

The agreements follow a broader pact signed Thursday to strengthen cooperation in key sectors between the Hong Kong Special Administrative Region and Zhejiang provincial governments.

READ MORE: HK inks landmark agreement with Zhejiang

Speaking at the conference, Lee highlighted the natural synergy between the two cities, noting Ningbo’s strength as a manufacturing and port hub complements Hong Kong’s role as a global financial and trade center.

Lee emphasized that Chinese mainland’s stable growth and vast domestic market — in contrast to the turbulence in global trade — provide strategic advantages for Hong Kong.

The city’s unique access to the mainland under the “one country, two systems” framework, he said, makes it an ideal gateway for investors diversifying away from US-related risks.

“China’s long-term growth trend remains unstoppable,” said Lee, who had been meeting with local tech heavyweight leaders and Hong Kong entrepreneurs since arriving in Hangzhou on Tuesday.

The Ningbo conference marks the third in a series, following similar events in Beijing and Shanghai last year, as part of Hong Kong’s push to position itself as a superconnector between the world and mainland, as well as a launchpad for mainland businesses expanding in emerging markets.

The event convened over 600 prominent business leaders from finance, supply chain, innovation and technology, and professional services.

In a social media post, Lee described Hong Kong as a two-way springboard — helping mainland enterprises “go global” while enabling overseas companies to enter the mainland market.

He added that Hong Kong’s extensive international trade experience, diverse talent pool, and world-class professional services empower companies to tap emerging markets and navigate US-led containment efforts targeting China.

Zhou Ji, a deputy director of the State Council’s Hong Kong and Macao Affairs Office, told the conference that despite US trade and tariff pressures, Hong Kong has upheld international law, multilateral trade rules, and its WTO-recognized separate customs territory status, earning global recognition.

He praised Hong Kong’s market-driven, rule-of-law-based business environment and its collaboration with Zhejiang, a powerhouse on China’s eastern coast with a vibrant private sector.

Citing successes like the “Hangzhou Six Tigers” tech startups — including AI innovator DeepSeek — Zhou highlighted the province’s dynamic economy.

Addressing delisting risks for US-listed Chinese firms, Hong Kong’s Deputy Financial Secretary Michael Wong Wai-lun said the city stands ready to welcome returning companies as a preferred listing destination.

He added that Hong Kong can leverage its global trade networks and professional services to help businesses — especially those based in the mainland — strategically reconfigure operations to markets in the Belt and Road Initiative (BRI).

READ MORE: Lee’s visit to Zhejiang highlights tech growth

Wong pointed to Hong Kong’s robust renminbi ecosystem and IPO performance as key strengths.

As the largest offshore renminbi hub, Hong Kong handles about 80 percent of global offshore renminbi payments and has announced plans to further enhance financial connectivity with the mainland.

Last year, Hong Kong ranked among the world’s top four IPO markets, with funds raised through initial public offerings exceeding HK$87 billion ($11.2 billion) — a year-on-year surge of nearly 90 percent. The Hong Kong Exchanges and Clearing Limited currently has over 100 listing applications in progress, underscoring strong corporate confidence in the city’s stock market, he noted.

 

Contact the writer at lilei@chinadailyhk.com