Proximity to Hong Kong key to local progress
East China’s Jiangxi province’s ties with Hong Kong are on a fast track, with the special administrative region becoming the province’s major source of direct investment.
Statistics indicate that by the end of 2016 Hong Kong had set up 11,457 companies in the province, bringing in a combined investment of $49.6 billion and accounting for 64 percent of the province’s total overseas investment.
In 2016 alone, Jiangxi approved 433 Hong Kong companies to launch businesses in the province, with a combined actual investment of $8.6 billion, accounting for 80 percent of the province’s total.
In only the first four months of this year, the province has approved the new arrivals of 80 Hong Kong companies, luring an actual investment of $2.5 billion.
Hong Kong’s proximity to Jiangxi is closer than many other provinces and the strong kinship between the two has enjoyed a long history.
Since Hong Kong’s return to China in 1997, the SAR and the province have made widespread and in-depth cooperation and exchanges.
Since 2002, a total of 16 trade cooperation event series have taken place, with far-reaching impact.
Agriculture’s key role
During the 12 th Five-Year Plan period (2011-15), the province lured a combined overseas investment of up to $2.5 billion, half of which originated from Hong Kong and Macao.
Last year, the province attracted 37 agricultural projects from Hong Kong with actual investment of up to $250 million, accounting for 79.4 percent of the total overseas investment in the sector.
Currently, Hong Kong’s capital investment in the province is expanding into wider fields, ranging from planting and breeding to high-tech agricultural product deep processing and comprehensive development.
Currently, 80 percent of the investment has been injected into hightech production.
Jiangxi’s agricultural products sold to Hong Kong have become more diversified.
The province has hundreds of products across 20 categories including pork, bread, roasted eel, bird and egg products, vegetables, tea and oranges.
L a s t y e a r, t h e p r o v i n c e s o l d 300,000 live pigs, valued at $77.3 million, making it second-largest live pig sellers to Hong Kong.
Vegetable sold to Hong Kong comprised half of the province’s total vegetable sold overseas last year.
To date, 18 vegetable-planting centers in Yongxiu and Ruijin have seen their planting area reach 1,600 hectares, with annual provision of up to 518,000 metric tons.
The sector created a sales value of 415 million yuan ($60.9 million) and 2,910 job opportunities.
Tourism cooperation
On May 15, Jiangxi’s tourism agencies signed cooperation agreements with their counterpar ts in Hong Kong, aiming to attract more than 10,000 Hong Kong residents to tour in the province, a historic revolutionary base.
A promotion center and Hong Kong-Jiangxi tourism alliance have been set up.
Last year, the province attracted 400 Hong Kong middle school students to experience the Red Revolutionary Tour in the province.
The province and the SAR’s tour exchange is on an upward swing. Last year, 618,300 Hong Kong tourists visited Jiangxi, up 2.69 percent year-on-year. Related revenues hit $191 million last year, up 3.83 percent year-on-year.
Zhu Yuanfa, deputy head of the Jiangxi Commerce Department, visited the Hong Kong Trade Development Council and Liaison Office of the Central People’s Government in Hong Kong in March.
HKTDC organized meetings with famous Chinese companies in Hong Kong such as China Resources and China Merchants Group.
China Resources said that it will deepen cooperation and communication with Jiangxi in the healthcare and pensions sectors.
The Chinese General Chamber of Commerce, the American Chamber of Commerce in Hong Kong, the International Ningbo Merchants Association, Hong Kong Convention and Exhibition, and Hong Kong Cyberport Management Co have all shown their suppor t in boosting Hong Kong-Jiangxi trade ties.