Hong Kong Chief Executive John Lee Ka-chiu on Wednesday encouraged Russian entrepreneurs to invest in Hong Kong’s burgeoning Northern Metropolis development hub to help nurture an international innovation and technology center.

“The Northern Metropolis is open for business and attracting international interest from a wide variety of companies and industries, including high-tech, artificial intelligence, and the environment,” Lee said at a Russia National Day reception hosted by the Consulate General of Russia in the Hong Kong Special Administrative Region.

The Northern Metropolis, a mega-project spanning about 30,000 hectares in a strategic development area bordering Shenzhen, has been mapped out as a new growth engine for Hong Kong, providing integrated facilities for housing and industrial development.

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Among the key goals is fostering a world-class innovation and technology sector, with strong linkages to other parts of the Guangdong-Hong Kong-Macao Greater Bay Area, and economies worldwide.

“I welcome Russian entrepreneurs, businesses and investors to join us in the Northern Metropolis, where the future will be built,” Lee said.

This year marks the 30th anniversary of the China-Russia strategic partnership of coordination, and the 25th anniversary of the signing of the Treaty of Good‑Neighborliness and Friendly Cooperation Between China and Russia.

Lee said the recent visit by Russian President Vladimir Putin to China, his 25th trip to the country, speaks volumes about the unique ties that define the relationship between the two economies.

Hong Kong, an international financial center that enjoys unique advantages under the “one country, two systems” principle, serves as a two-way springboard for business expansion, Lee said.

“We can help Russian companies access the Chinese mainland and international markets while helping many Chinese mainland enterprises expand globally, including Russia,” he said.

Regarding city-to-city ties, Lee highlighted a significant surge in Russian visitors traveling to Hong Kong, alongside rich cultural exchanges in Russian dance, art, film, and cuisine.

According to official data, more than 160,000 Russian travelers visited Hong Kong in 2025, making Russian tourists one of the largest groups from Eastern Europe.

“In the first four months of this year alone, we welcomed over 90,000 visitor arrivals from Russia, up a whopping 56 percent compared to the same period last year,” Lee said.

Anatoly Kargapolov, Russian consul general in the Hong Kong SAR, said Russian entrepreneurs are ready to explore joint investment projects in the Greater Bay Area and the Northern Metropolis to cultivate mutually beneficial partnerships with Hong Kong.

Despite global challenges and unprecedented sanctions, Kargapolov said the Russian economy has remained stable, with cumulative GDP growth of more than 10 percent over the past three years.

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He added that Russia’s trade with the Chinese mainland exceeded $200 billion in 2025, and its trade with the Hong Kong SAR also demonstrated resilience, reaching $4.3 billion that year.

“We are witnessing a significant and sustained rise in interest in Russian products across the SAR,” said Kargapolov. “The city remains an attractive and predictable jurisdiction for Russian business.”

He said he expects to see closer people-to-people exchanges in 2026, with the launch of direct flights and favorable visa policies, which will help unlock new prospects for deepening ties across all sectors.

Contact the writers at kelly@chinadailyapac.com