Major event witnesses a dozen deals signed
Twelve major deals worth more than $ 3.88 billion in total were signed at the Beijing- Hong Kong Economic Cooperation Symposium earlier this month.
Consisting of three cooperation agreements and nine investment projects, they covered a variety of industries, including rail transport, finance, biopharmaceuticals and commercial properties.
Among them was a framework agreement on comprehensive cooperation among three companies — Beijing Infrastructure Investment, Beijing MTR and Hong Kong MTR.
The parties will conduct collaboration in renovating old subway routes, optimizing the operations of the two cities’ existing subway networks, researching intelligent subways, training and overseas projects.
The two companies headquartered in Beijing will found a joint venture dedicated to coordinated innovation in urban rail transportation, facilitating academia- industry cooperation, encouraging the industrialization of research and development achievements and promoting the upgrade in the industry, according to the agreement.
The Hong Kong branch of Huaxia Bank clinched a deal between property developer BCEGI ( Hong Kong) and financial technology company Futu Holdings to help the latter expand overseas.
Beijing Daily reported that ORG Technology, a packaging solution provider based in Beijing, is bidding 192 million yuan ($ 29.2 million) to take over the headquarters of a Hong Kong group company specializing in metallic packaging materials.
ORG will also strengthen technological exchanges with an R& D center in Taiwan affiliated with TSM Group, to enhance its own overall innovation capacities, according to the company.
Beijing’s construction of the Integrated National Demonstration Zone for Opening Up the Service Sector and the China ( Beijing) Pilot Free Trade Zone is attracting the eyes of Hong Kong businesspeople.
A Hong Kong- based pharmaceutical company has pledged to establish a research institution in Beijing Tongzhou district, creating an R& D system ranging from targeted therapies to clinical research and providing innovative services to the development of the city’s subcenter.
Fengtai district also saw deals involving 3.9 billion yuan in total investment value signed during the event.
One of them was a financial technology center project funded and operated by SDP ( HK) Holding.
The fintech center will be repurposed from a shopping mall. The HK company is investing 3.6 billion yuan to upgrade it into a 139,000- square- meter commercial complex integrating office buildings, cultural attractions and leisure facilities.
By the end of September, the accumulative paid- in investment from Hong Kong in Beijing reached $ 102.23 billion, mainly going to the sectors of real estate, leasing, business services, finance, software and information services.