Hong Kong, as the largest source of foreign investment and the largest overseas trading partner for Hunan province, plays a pivotal role in connecting Hunan with global markets, officials said.

On Wednesday, about 200 political and business heavyweights from Hunan and Hong Kong gathered at the 2025 Hunan and Hong Kong investment and financing matchmaking conference to explore new development opportunities. Several trade and business agreements were signed during the event, further strengthening ties between the two regions.

The province brought more than 200 projects to the conference and about 60 percent are high-tech related, covering the green and low-carbon industry, health projects, new energy projects, new materials projects, artificial intelligence (AI), and satellite communication technologies.

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“Hong Kong’s international financial industry has been playing a unique role for the Chinese mainland, and the city will continue to maintain its status as an international financial center,” said Leung Chun-ying, vice-chairman of the National Committee of the Chinese People’s Political Consultative Conference.

According to the Commerce and Economic Development Bureau, Hong Kong is one of the world’s top destinations for foreign direct investment. The number of companies in Hong Kong with overseas or Chinese mainland parent companies in 2024 reached a record high of 9,960, leveraging Hong Kong as a base to grow their businesses across the Asia-Pacific region and beyond.

Leung also said that the global network of the city’s universities is one of Hong Kong’s most valuable resources as a major economic and trade center.

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Officials from Hunan province said they recognize Hong Kong’s status as a financial center, adding that Hong Kong is Hunan's largest offshore trading partner, the first choice for foreign financing, and the largest source of overseas tourists.

Mao Weiming, governor of Hunan province, said, “We visited the Hong Kong University of Science and Technology (HKUST) during our visit, and were amazed that it took only 30 years for the school to become the cradle of Asia's technological talent.”

Mao added that he expects Hong Kong to assist Hunan in enforcing high-quality science and industry integration and in building Changsha, capital of Hunan, as a global research and development center.

Contact the writer at thor_wu@chinadailyhk.com