Wuxi, Hong Kong firms ink 43 projects worth $7b

Enterprises from Wuxi in East China's Jiangsu province and Hong Kong signed cooperation agreements for 43 projects worth more than 48.48 billion yuan ($7.05 billion) at an industrial exchange meeting held in Hong Kong on Feb 21.

Ten Wuxi-based enterprises, including Jiangsu ProteLight Pharmaceutical & Biotechnology Co Ltd and Heilan Group, expect to go global from Hong Kong.

Since 2021, Hong Kong has been Wuxi's largest source of overseas investment and its outbound investment destination, said Du Xiaogang, Party secretary of Wuxi, at the meeting.

Du noted that Wuxi will cooperate with Hong Kong in scientific innovation and enhance people-to-people exchanges with the city. He also expects more Hong Kong residents to visit Wuxi, people from business circles to invest in the city, and Hong Kong's young people to start businesses here.

Chairman of Friends of Hong Kong Association Ltd introduced his hometown Wuxi at the meeting, saying that with a strong economy, livable environment, and rich culture, Wuxi plays an important role in the Yangtze River Delta.

He expressed hope that Hong Kong and Wuxi will achieve common prosperity and that Hong Kong enterprises will seize the opportunity to seek further development.

On the same day, the Wuxi Hong Kong Collaborative Innovation Center at Hong Kong University of Science and Technology and the Wuxi Hong Kong Science and Technology Innovation Center at the City University of Hong Kong were unveiled.