Algernon Yau Ying-wah, Secretary for Commerce and Economic Development of the Hong Kong Special Admistrative Region government, delivers a speech during the ''Hello Shenyang'' Global Promotional Campaign (Hong Kong ) at Renaissance Harbour View Hotel Hong Kong in Wan Chai on Oct 9, 2023. (CALVIN NG / CHINA DAILY)

Cooperation between Hong Kong and Shenyang has bore fruit over the past decades, officials said on Monday, adding that deeper economic and business ties will bring win-win opportunities for both places.

“Despite being thousands of kilometers apart, Hong Kong and Shenyang maintain close ties in economic, trade, cultural, and youth exchanges,” Secretary for Commerce and Economic Development Algernon Yau Ying-wah said at a promotional conference, adding that Hong Kong SAR has always been a major source of foreign investment for Shenyang.

As the capital of Liaoning province and an important city in northeast China, Shenyang is turning into an advanced equipment manufacturing base by developing civil aviation, auto, robots and intelligent manufacturing

Since the establishment of the first Hong Kong-funded enterprise in Shenyang in 1984, the cumulative investment from Hong Kong has exceeded US$30 billion, according to Yau. At the same time, Hong Kong also serves as a preferred platform for Shenyang enterprises to expand overseas and explore international markets.

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“According to colleagues based in Shenyang, the city is characterized by its charm, profound cultural heritage, hospitable people, rich cultural and historical resources, and strong industrial foundation,” Yau said.

As the capital of Liaoning province and an important city in northeast China, Shenyang is turning into an advanced equipment manufacturing base by developing civil aviation, auto, robots and intelligent manufacturing. With a population of 9.147 million, its GDP grew 6.6 percent year-on-year in the first half of this year, hitting 372.58 billion yuan.

In 2014, the Hong Kong Special Administrative Region government established a liaison office in Shenyang to strengthen comprehensive exchanges and cooperation between Hong Kong and the northeastern region.

Yau said Hong Kong is willing to leverage its expertise to meet Shenyang’s needs. “In areas such as international trade, intellectual property trading, and creating a business-friendly environment, Hong Kong and Shenyang can exchange experiences, learn from each other, and collaborate,” he said.

“Hong Kong is ready to assist Shenyang and the northeastern region in jointly building the Belt and Road Initiative, fully integrating with the development of the Guangdong-Hong Kong-Macao Greater Bay Area, promoting the vigorous development of Shenyang, and contributing to the comprehensive revitalization of the northeastern region, thereby making a contribution to the high-quality development of the country,” Yau added.

Lyu Zhicheng, mayor of Shenyang, said Shenyang and Hong Kong have maintained deep and extensive exchanges and cooperation over the years, jointly creating an important chapter of mutually beneficial development.

Chen Shuang Wei, Head of Hong Kong and Macao Affairs Office of the People’s Government of Shenyang Municipality, delivers a speech at the ''Hello Shenyang'' Global Promotional Campaign (Hong Kong ) at Renaissance Harbour View Hotel Hong Kong in Wan Chai on Oct 9, 2023.  (CALVIN NG / CHINA DAILY)

Algernon Yau Ying-wah, Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region government (left) and Lu Zhi Cheng (right), Mayor of Shenyang, attend the ''Hello Shenyang'' Global Promotional Campaign (Hong Kong ) at Renaissance Harbour View Hotel Hong Kong in Wan Chai on Oct 9, 2023. (CALVIN NG / CHINA DAILY)

“Over the years, Hong Kong enterprises have achieved good performance in Shenyang, contributing significantly to their own development as well as the revitalization and development of Shenyang,” Lyu said.

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Highlighting Shenyang’s growth potential and advantage in its international connections and business environment, Lyu expressed his hope to deepen economic and business ties with Hong Kong in finance, commerce and trade, and advanced manufacturing as well as innovation and technology.

He also pledged to intensify efforts to attract foreign investment by providing incentives for those who establish headquarters, or set up research and development centers in Shenyang.

“We will provide support and customized solutions for significant foreign investment projects through a case-by-case approach. We will establish a mechanism for direct communication between foreign enterprises and government departments, and spare no effort in coordinating and addressing the development needs and concerns of businesses,” Lyu said.