Beijing–hong Kong Cooperation Symposium Opens
The 22nd Beijing-hong Kong Economic Cooperation Symposium was held from October 24 to 25, 2018 in Beijing.
The 22nd Beijing-hong Kong Economic Cooperation Symposium was held at the Beijing International Hotel from October 24th to 25th, 2018.
The symposium explored the principle of complementarity in respective advantages and common prosperity between the two cities and has been held 21 times since 1997. It was established by the governments and institutions of Beijing and Hong Kong and is an efficient, high-end platform for promoting investment. Fruitful outcomes have been achieved via pragmatic cooperation. The symposium is a bridge for exchange and communication between the two cities.
2018 is the first year in the implementation of the agenda and goals set by the 19th National Congress of the Communist Party of China and also the 40th anniversary of China's policies of reform and opening-up. It is a crucial year in the creation of a prosperous society and for implementing the 13th FiveYear Plan. Guided by President Xi Jinping's Thoughts on Socialism with Chinese Characteristics for a New Era, the symposium was held to deepen understanding of Xi's vision and to implement China's "One Country, Two Systems" principle. Beijing and Hong Kong are also implementing the Belt and Road Initiative, coordinating development strategies, and expanding and deepening high-quality cooperation in finance and service industry, scientific and technological innovation, cultural creativity, education, urban management and large-scale engineering construction in order to achieve mutual benefit and
win-win outcomes in a wider field, at greater depth and at a higher level.
The theme of the 22nd BeijingHong Kong Economic Cooperation Symposium was working together with the Belt and Road to write a new chapter in Beijing-hong Kong cooperation. The Beijing-hong Kong symposium was cosponsored by authorities from the two cities. The organisers in Beijing are the Municipal Commission of Commerce, the Municipal Development and Reform Commission, the Municipal Office of Hong Kong and Macao, the Beijing Investment Promotion Bureau, the Municipal Tourism Commission, the Municipal Federation of Industry and Commerce, the Municipal Science and Technology Commission, and the Municipal Finance Bureau. The organisers in Hong Kong are the Hong Kong Trade Development Council, the Hong Kong Chinese Enterprises Association, the Chinese Manufacturers Association of Hong Kong, the Chinese General Chamber of Commerce, the Hong Kong General Chamber of Commerce, the Federation of Hong Kong Industries, the Hong Kong China Chamber of Commerce, and the Hong Kong Chinese Importers' and Exporters' Association. The Jingtai Group, Beijing Enterprises Group, Zhongguancun Management Committee, and the Beijing Economic and Technological Development Zone Management Committee are co-organisers. The symposium was hosted by the Beijing Investment Promotion Bureau and supported by the Hong Kong Chamber of Commerce in China.
Diverse content was arranged for the symposium, which included 15 activities. The opening ceremony, followed by the Beijing Municipal People's Government reception banquet and the Beijing-hong Kong bilateral investment projects signing ceremony were three important activities at the event.
The symposium included 10 special events covering “opportunities, cooperation and development." The Belt and Road section and expansion of open cooperation sections featured three special activities. These covered the complementary advantages of Beijing and Hong Kong in the Belt and Road Initiative, financial cooperation between Beijing and Hong Kong, and the opening up and cooperation of service sectors in Beijing and Hong Kong. The science and cultural innovation section featured four special events. They covered BeijingHong Kong cooperation regarding scientific innovation, cooperation in high-end industry, cooperation in cultural entrepreneurship and creation, and educational cooperation between Beijing and Hong Kong universities. The section covering major construction projects featured a special event that unveiled new opportunities regarding the creation of the subsidiary administrative centre of Beijing. The urban governance cooperation sector featured two special activities covering cooperation in the food, drug safety and medical fields, and in urban management to improve governance and efficiency.
There were also exhibition and investment consultation events, including an exhibition on existing cooperation projects and an event covering project investment and consultation.
The symposium focused on the Belt and Road, opening up of the service sector, financial cooperation, technological innovation, cultural and creative industries, and high-tech industries.
The Hong Kong Trade Development Council and the Beijing Municipal Development and Reform Commission ointly hosted seminars on the Belt and Road. Beijing's three-year Belt and Road action plan was explained. The central government's plan to integrate Hong Kong in supporting and participating in the Belt and Road Initiative will be implemented. Hong Kong's unparalleled advantages in international legal, accounting, consulting, arbitration, insurance and other professional services were explored, and financial support between the two cities was discussed. Intermediary services will be brought in to help Beijing's financial services and technological start-ups seek global development through Hong Kong and further participate in the Belt and Road Initiative.
Special activities were also organised to promote policies regarding the opening up of the service sector to
advance the current pilot schemes in Beijing's service industry. Professional services in Hong Kong shall be explored to augment policy effects already seen in Beijing's opening-up drive.
The Hong Kong Trade Development Council has ushered in more than 30 financial technology companies to participate in the symposium and sign cooperative agreements with Beijingbased companies regarding financial innovation, interconnectivity, project implementation and the providing of effective and convenient services for the residents of the two cities.
Activities pertaining to Beijing-Hong Kong cooperation regarding scientific and technological innovation focused on how Beijing is becoming the national centre for science and technology and the integration of government, industry, universities and research institutes in Hong Kong. Representatives from Beijing and Hong Kong shared insights on research and application of highend scientific and technological achievements, technological transfer and venture capital investment. The transfer of technology between enterprises and universities in the two cities was promoted.
A forum on licensing and accreditation in the cultural and creative industries was organised during the symposium as well. Participants met with international experts on patent licensing, Olympic intellectual property (IP) and animation IP. Over 100 unique cultural and creative exhibits were exhibited. A special event covering Zhongguancun featured a competition covering entrepreneurship among young people, a road show and expert rating. Start-up projects with potential solicited investment at the event.
The 22nd symposium sought common prosperity by effectively utilising complementary resources and had four main characteristics:
The first is joint development of the Belt and Road Initiative. The Beijing-hong Kong symposium is a faithful implementation of the central government's agenda, focusing on the national strategy and economic and social development requirements. It gives full play to the advantages of Hong Kong's professional services and international businesses to integrate Beijing and Hong Kong in exploring new markets in countries and regions along the Belt and Road.
The second is to grasp the opportunity to expand opening-up. The Beijing-hong Kong symposium consolidated achievements made in the pilot projects of Beijing's service industry in opening-up; seized opportunities in opening-up; promoted cooperation in financial, professional services and scientific and technological innovation between the two cities; and promoted quality development, agglomeration and integration of the service sector.
The symposium fostered pragmatic cooperation between the two cities in the fields of science and technology, culture, education, talents, urban management and major engineering projects. Cooperation in niche fields were cemented to promote interconnectivity, mutual learning and sharing of benefits.
The Beijing-hong Kong symposium highlighted the status of various companies and featured publicity and promotion activities, policy interpretation, investment opportunities and project negotiations to create cooperative platforms for State-owned enterprises, private companies and multinationals to achieve an organic flow of capital, technology and talent.
The Hong Kong Trade Development Council joined hands with the Beijing Municipal Development and Reform Commission to hold a special event covering the Belt and Road Initiative. The council values opportunities brought about by the initiative. It has carried out work along the Belt and Road area for many years and commits itself to consolidating Hong Kong's status as a hub for professional services and information along the Belt and Road. It seeks to work with enterprises all over China and explore opportunities related to the Belt and Road.
The Hong Kong Trade Development Council has established a Belt and Road committee to gather business leaders from different industries in Hong Kong and asked them to contribute to the council's promotion plan and guidelines. The council established a Belt and Road website to provide enterprises with information on market conditions in countries and regions along the Belt and Road, a list of Hong Kong service companies and a database covering Belt and Road investment projects. The council organises a Belt and Road summit every year and invites decision-makers and investors in China and countries along the Belt and Road, as well as service providers. In 2018, more than 5,000 entrepreneurs and other individuals from around the world participated in the forum. It facilitated information exchange and investment. The council organised trips to countries and regions along the Belt and Road for companies from around China. An international alliance of groups along the Belt and Road has been forged. It is composed of trade associations, federations, think tanks and interested organisations. There are currently 116 members. The council's 50 international offices can also assist Chinese companies in exploring overseas markets. The council integrates Belt and Road elements into major occasions and flagship events in Hong Kong and overseas, such as the Asian Financial Forum and the Asian Logistics and Maritime Conference.
The 22nd symposium had several new features compared with previous Beijing-hong Kong symposiums.
The symposium highlighted the special Belt and Road theme through various activities and consultations. Organisers took into consideration the respective advantages of Beijing and Hong Kong. Enterprises in Beijing
and neighbouring areas were given opportunities to connect with resources from Hong Kong. The symposium highlighted the expanded opening-up of the service industry and featured special modules for the service sectors as part of the push for a new round in the openingup of Beijing's service sector. Hong Kong shared its experience in service industry and familiarity with international rules. It explored how Beijing can continue to connect with the international service industry, open-up and improve regulations. Beijing's technological innovation resources were tapped to integrate with resources in Hong Kong. Companies could explore listing themselves on the Hong Kong Stock Exchange, and emphasis was given to unicorns.
The symposium is a platform for inter-company exchanges and consultations. It invites State-owned enterprises, private enterprises and multinational corporations to participate in the opening ceremony and various engaging events. Enterprises from Beijing and Hong Kong were given priority in the symposium through policy promotion, interpretation and project negotiation, to promote organic flow of capital, projects, technologies and talent.
The Beijing-hong Kong symposium is an important bridge for communication and cooperation between the two cities to promote economic cooperation.
From January to August of 2018, Beijing used US$7.52 billion of Hong Kong capital, bringing the region to number one regarding investment from other regions and countries. By the end of August 2018, Hong Kong had established 15,626 overseas-invested enterprises in Beijing, accounting for 36.2 percent of the city's total. The accumulated investment was US$78.27 billion, accounting for 52.3 percent of all actual foreign investment in Beijing, which again ranks Hong Kong first. Investment areas include the real estate industry, leasing and business services, finance and information transmission, computer services and software industry. As of the end of August 2018, Beijing's cumulative direct investment in Hong Kong was US$29.33 billion, accounting for 45.44 percent of all overseas direct investment in Beijing. Investment areas include information transmission; software and information technology services; culture, sports and entertainment; leasing and business services; and real estate.
Participants in the symposium included senior leaders from the Hong Kong Special Administrative Region and key government officials, the heads of the organisers, renowned businessmen in Hong Kong, presidents of international commerce entities in Hong Kong, trade officials from foreign embassies, representatives of commerce associations in Beijing, Hong Kong enterprises, centrally-administered enterprises, multinationals and private enterprises. Invitation and registration were carried out both online and offline. The registration process was well received in Hong Kong. More than 150 enterprises and institutions from the region participated.
The Beijing Municipal Investment Promotion Bureau realised 48 largescale Hong Kong-funded projects during the preparation for the Beijing-hong Kong symposium, with a contractual foreign investment of US$3.47 billion. A total of 206 bilateral investment projects were announced.
The preparatory committee invited radio and television stations, newspapers, magazines and online media outlets from Beijing and Hong Kong to conduct comprehensive and special reports on the Beijing-hong Kong symposium to increase media exposure. The event featured high quality standards and efficiency, which the media reported on.
The ultimate goal of the symposium was to promote the realisation of more intra-chinese and international projects. The symposium has witnessed the signing of more than 240 cooperation documents worth more than US$73 billion. The signing of these documents has effectively promoted the transformation of Beijing's economic structure. Many of the 200 proposed cooperation projects that are currently pending before the symposium have now been signed.
The 21th Beijing Hong Kong Economic Cooperation Symposium Opening Ceremony
Two companies from Beijing listed on the Hong Kong Stock Exchange
An exhibition on Hong Kong in Beijing