Fujian, HK to expand co-op

Fujian and Hong Kong reached an accord on Nov 28 to beef up bilateral pragmatic cooperation and exchanges in multiple fields.

According to the three agreements reached at a meeting in Fuzhou, capital city of Fujian, the two parties will team up in the construction of the Belt and Road Initiative, advance youth exchanges and expand collaboration in terms of innovation and technology.

Meanwhile, the two sides are also set to strengthen links in sectors including finance, creative culture, tourism and education.

Tang Dengjie, governor of Fujian, said that Fujian aspires to further strengthen ties with the economies involved in the 21st Century Maritime Silk Road, part of the BRI, include Hong Kong and ride the wave of the country's new round of reform and opening-up.

Hong Kong is an international metropolis, boasting prominent advantages in terms of financing, shipping and modern services, he noted, suggesting that the two sides promote bilateral cooperation in an all-round manner, joining hands in expanding oversea markets so as to bolster the BRI.

Echoing Tang, Matthew Cheung Kin-chung, chief secretary for Administration of the HKSAR government, said that Fujian and Hong Kong have formed close economic and social relations, revealing that roughly 1.2 million Hong Kong residents are of Fujian origin, accounting for over 17 percent of its total population.

Hong Kong has long been the main source of foreign investment in Fujian, as well as one of its arch exporting markets. More than 70 Fujian enterprises have been listed in the SAR, he added.

According to Guo Ningning, vice governor of Fujian, to date, 27,000-plus Hong Kong-funded companies have landed in Fujian, with contracted investment topping $140 billion. From January to October, Hong Kong sustained a robust investment momentum, with the volume of newly-established enterprises and investment in Fujian soaring by more than 40 percent and 30 percent respectively.

Fujian is the core area of the 21st Century Maritime Silk Road with Hong Kong being an important node supporting the national strategy. Both sides should further cooperation comprehensively and get involved in the BRI construction actively, Cheung added.