Secretary for Commerce and Economic Development Algernon Yau Ying-wah (center); Vice-Chairman of the People’s Government of Xinjiang Uygur autonomous region Liu Sushe (third right); Deputy Commander of the Xinjiang Production and Construction Corps Li Yonghong (third left); Deputy Director of the Office of the Government of the HKSAR of the People’s Republic of China in Beijing Amy Yuen (second right); Director of the Department of Commerce of Xinjiang Uygur autonomous region of China Xing Tao (first right), Director of the Bureau of Commerce of the Xinjiang Production and Construction Corps Lu Yuedong (second left); and Head of Mainland and GBA Business Development of InvestHK Loretta Lee (first left), pose for a group photo during "the Unparalleled Opportunities to Expand Your Global Business - Xinjiang to Hong Kong" investment promotion seminar in Urumqi, the Xinjiang Uygur autonomous region, on Aug 18, 2023. (PHOTO / HKSAR GOVERNMENT)

Hong Kong's advantages in trade, talent and information can complement Xinjiang Uygur autonomous region’s resources and its geographic position in propelling further synergy going forward, panelists said at a business seminar held in Urumqi on Friday.

Themed “Unparalleled Opportunities to Expand Your Global Business – Xinjiang to Hong Kong”, the investment promotion seminar was organized by InvestHK, the Department of Commerce of the Xinjiang Uygur autonomous region, the Bureau of Commerce of the Xinjiang Production and Construction Corps and the Office of the Government of the Hong Kong Special Administrative Region in Beijing.

"Hong Kong is not only Asia's business and services hub, but also an international financial center. Xinjiang enterprises can leverage the city's advantages in professional services to ‘go global’,” Secretary for Commerce and Economic Development Algernon Yau Ying-wah said.

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Secretary for Commerce and Economic Development Algernon Yau Ying-wah delivers welcome remarks during "the Unparalleled Opportunities to Expand Your Global Business - Xinjiang to Hong Kong" investment promotion seminar in Urumqi, Xinjiang, on Aug 18, 2023. (PHOTO / HKSAR GOVERNMENT)

Yau added that this year is the 10th anniversary of the Belt and Road Initiative, and Hong Kong can capitalize on its role as the prime platform for the Belt and Road Initiative, and continue to proactively contribute to the country's development.

Liu Sushe, vice-chairman of the People's Government of Xinjiang Uygur autonomous region, added, “Hong Kong demonstrates unique strengths in terms of participating in and assisting with the development of the Belt and Road Initiative. Many enterprises from the province have made investments or have listed in Hong Kong, and still more spread their footprint via the city around the globe.”

Vice-Chairman of the People’s Government of Xinjiang Uygur autonomous region of China Liu Sushe delivers welcome remarks during "the Unparalleled Opportunities to Expand Your Global Business - Xinjiang to Hong Kong" investment promotion seminar in Urumqi, Xinjiang, on Aug 18, 2023. (PHOTO / HKSAR GOVERNMENT)

Liu noted that Xinjiang will fully utilize the two platforms of Xinjiang-Hong Kong Belt and Road core area, and the Guangdong-Hong Kong-Macao Greater Bay Area to further enhance exchanges with Hong Kong on different frontiers, “thereby reinforcing the joint development of the Silk Road Economic Belt and the Greater Bay Area for the mutual benefit of both places."

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During the forum, other speakers from the financial services industry discussed the role of Hong Kong as a preferred international platform for listing and financing for Xinjiang enterprises, and the issue of financial compliance management in Hong Kong.