HK, Guangdong to deepen ties to ‘facilitate integration’
Hong Kong and Guangdong are deepening cooperation to further integrate the economies of the Greater Bay Area, with the two jurisdictions unveiling a week of events and business activities to achieve high-quality growth in the post-pandemic era.
Chief Executive John Lee Ka-chiu said he would undertake more visits and hold discussions with Guangdong officials as normality had returned following the border reopening with the mainland after Covid-19 restrictions were lifted.
“We will enhance mutual cooperation [with Guangdong and pursue] high-quality growth to facilitate Hong Kong’s integration with the nation’s development,” Lee said at the SmartHK Forum in Guangzhou yesterday.
His comments underscore deepening ties among governments in the Greater Bay Area in the post-pandemic era, as China spares no efforts to revive its economy. The quest for high-quality growth in the bay area is a nod to Beijing’s call to tackle bottlenecks in the economy to drive recovery.
The world’s second-largest economy saw its post-Covid rebound moderate in April, as the youth jobless rate jumped to a record high and consumer prices registered almost no growth.
Last week, Premier Li Qiang said after a two-day visit to Shandong province that efforts would be undertaken to boost household spending and export orders, without specifying details.
“Guangdong’s pursuit of high-quality development provides unlimited business opportunities for domestic and overseas companies, including Hong Kong enterprises,” said Wang Weizhong, governor of the southern province.
“We hope that Hong Kong companies will bring capital, technologies and management to strengthen cooperation.”
To achieve that goal, Wang said the province was focusing on hi-tech industries, such as digital information, new materials and renewable energy, while at the same time maintaining the key role of its manufacturing sector.
Hong Kong businesses have set up 210,000 entities in Guangdong, accounting for 70 per cent of the overseas companies in the province, while those from Guangdong have established some 9,000 companies in the financial hub, according to Lee.
The forum has been organised and supported by a number of Hong Kong government departments, including the Trade Development Council.