Companies and organizations from Shandong province inked 27 agreements of trade cooperation and a memorandum of cooperation with the Hong Kong Trade Development Council (HKTDC) at the opening ceremony of the 2025 Hong Kong-Macao-Shandong Week on Tuesday.
These projects cover investment, finance, professional services, trade, technological innovation, cultural innovation, marine economy, and shipping logistics.
Hong Kong Chief Executive John Lee Ka-chiu applauded the cooperation and said in a video speech that Shandong and Hong Kong have a solid basis for investment and trade activities.
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“Hong Kong is the first choice for Shandong enterprises to go overseas. By the end of 2024, 56 Shandong companies were listed in Hong Kong with a total market value approaching HK$560 billion ($71.56 billion),” Lee said.
Wang Yuyan, deputy Party secretary of Shandong, said, “We are willing to create a win-win relationship between Shandong and Hong Kong.”
Wang emphasized the importance of fortifying mutual learning with Hong Kong in areas such as investment, market development, financial services, technological innovation, and cultural exchanges.
According to the Shandong provincial government, in 2024, 6,335 Hong Kong-funded enterprises were operating in Shandong province, using Hong Kong capital of $95.15 billion. This accounted for 65.2 percent of the total foreign investment, ranking first among non-Chinese mainland regions investing in Shandong.
In addition, the total trade between Shandong and Hong Kong was 88.5 billion yuan ($12.26 billion) in 2024, with a year-on-year increase of 35.1 percent.
The Shandong Provincial Development and Reform Commission promoted the province’s green, low-carbon development plan at the meeting, with many Shandong cities also promoting their advantages in trade and low-carbon development.
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Patrick Lau Hui-ping, deputy executive director of the HKTDC, welcomed the upcoming collaboration and provided three pieces of advice for Shandong’s business sectors: suggesting that they make full use of Hong Kong as a platform for entering the global market, that they strengthen cooperation in transformation of research and development to cultivate new quality productivity, and that they improve collaboration in the cultural and creative industries.
Contact the writer at thor_wu@chinadailyhk.com
