Chen Zhichang, mayor of Nanjing Municipal People's Government, speaks at the Nanjing Promotion Conference on High Quality Development & Wider Opening up of Service Sector (Hong Kong and Macao ) in Hung Hom on Feb 8, 2023. (CALVIN NG / CHINA DAILY)
The Hong Kong Special Administrative Region and Nanjing -- the capital city of eastern Jiangsu province -- can leverage their complementary advantages to propel innovation and technology development and strengthen trade and investment cooperation, officials said on Wednesday.
They made their remarks at the three-day Nanjing Promotion Conference in High Quality Development and Wider Opening up of Service Sector (Hong Kong and Macao) at Kerry Hotel in Hung Hom.
Jonathan Choi Koon-shum, chairman of the Chinese General Chamber of Commerce of Hong Kong, said Nanjing has rich resources in innovation and education, and it is an ideal place for entrepreneurs to start businesses
The financial hub has welcomed the first trade delegation from the Chinese mainland since full resumption of quarantine-free cross-border travel on Monday. The 300-representative group from Nanjing, including government officials, entrepreneurs and financial heavyweights, started a three-day visit on Tuesday.
Innovation and technology development needs a high-quality capital market, said former chief executive of Hong Kong SAR Carrie Lam Cheng Yuet-ngor, who is also the honorary president of Jiangsu Hong Kong Chamber of Commerce. “Hong Kong, as an international financial hub, can provide such a platform for Nanjing with its sophisticated financial infrastructure and service.”
Talking about Hong Kong’s financial connectivity programs with the Chinese mainland, such as Bond Connect and Stock Connect, she said she hopes Nanjing can issue green bonds in Hong Kong in the future.
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“Hong Kong enjoys the unique advantages of ‘one country, two systems’. Its development is tightly interwoven with overseas markets,” and Nanjing can approach the international market via the “superconnector”, Lam noted.
Jonathan Choi Koon-shum, chairman of the Chinese General Chamber of Commerce of Hong Kong, said Nanjing has rich resources in innovation and education, and it is an ideal place for entrepreneurs to start businesses.
Former Hong Kong chief executive Carrie Lam Cheng Yuet-ngor, President of Jiangsu Hong Kong Chamber of Commerce, speaks at the Nanjing Promotion Conference on High Quality Development & Wider Opening up of Service Sector (Hong Kong and Macao ) in Hung Hom on Feb 8, 2023. (CALVIN NG / CHINA DAILY)
He said at present, a total of 33 companies from Nanjing have listed on the Hong Kong Stock Exchange, and there is space for cooperation with Hong Kong and the city.
Nanjing is ramping up efforts to grasp opportunities from the border reopening between the Chinese mainland and Hong Kong to drive its economic recovery.
It recorded a 2 percent GDP growth in 2022, compared with 7.5 percent a year earlier. The mega city with a population of over 9 million is located in the Yangtze River Delta -- an economic powerhouse for the country. The service sector last year accounted for 62.2 percent of the city's GDP.
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Chen Zhichang, mayor of Nanjing Municipal People’s Government, said Nanjing and Hong Kong have developed a strong bond. “Hong Kong’s investment in Nanjing has reached $38.85 billion with 5,725 projects. Hong Kong has become the largest investment source and the largest logistics base in Nanjing,” he said.
The event aims to deepen cooperation between Nanjiang and the Guangdong-Hong Kong-Macao Greater Bay Area, as well as to expand the overseas market for Nanjing’s enterprises.
