The Hong Kong leg of Guangzhou 2017 Fortune Global Forum roadshow was started on February 27. In recent years, the tie between Guangzhou and Hong Kong is closer due to more frequent economic and trade exchanges. By the end of 2016, the number of Hong Kong’s FDI(foreign direct investment) enterprises in Guangzhou had reached 19,215, and Guangzhou’s investors had established 572 enterprises(institutions) in Hong Kong.

 

The Guangzhou 2017 Fortune Global Forum roadshow in Hong Kong held on Feb. 27 will see the presence of executives of Fortune 500 enterprises from Guangzhou and Hong Kong who will have dialogues on Free Trade Zones and Open-up Innovation.

 

In recent years, the tie between Guangzhou and Hong Kong tends to be closer. Hong Kong is an important trade partner, investment source and destination of Guangzhou. In 2016, the total foreign trade of Guangzhou and Hong Kong reached 99.68 billion yuan, up 6.1% year on year and accounting for 11.6% of the city’s total. Meanwhile, Guangzhou attracted contracted foreign investment of 8.37 billion USD from Hong Kong, up 25% year on year and accounting for 84.6% of the city’s total. Guangzhou enterprises’ contracted investment to Hong Kong hit 2.94 billion USD, up 11.8% year on year and accounting for 55.6% of the city’s total contracted foreign investment by the Chinese side.

 

By the end of 2016, the number of Hong Kong’s FDI(foreign direct investment) enterprises in Guangzhou had reached 19,215 with accumulated contracted foreign investment of 86.8 billion USD and accumulated actual-paid foreign investment of 49.39 billion USD, and Guangzhou’s investors had established 572 enterprises(institutions) in Hong Kong with accumulated contracted investment of 9.93 billion by the Chinese side.

 

In terms of service trade liberalization, Guangzhou, Hong Kong and Macao have made continuously breakthroughs in cooperation. From January to October last year, Guangzhou’s service trade total reached 29.78 billion USD, up 27.54% year on year, including the service trade with Hong Kong amounting to 8.13 billion USD, up 3.98% year on year and accounting for 27.3% of the city’s total accordingly, and the service trade with Macao amounting to 162 million USD, up 17.9% year on year. According to the statistics in the 2016 Catalog of Guangdong-based Service Trade Enterprises from Hong Kong, there are 466 Guangzhou-based service trade enterprises from Hong Kong, accounting for 42% Guangdong-based service trade enterprises from Hong Kong.

As a high-levelportal hub for open-up forged by Guangdong, Nansha Pilot Free Trade Zone(Nansha FTZ) has made successive new achievements in the cooperation with Hong Kong and Macao. By December 2016, a total of 952 Hong Kong- and Macao-funded enterprises had settled down in Nansha with total investment of 14.824 billion USD. The Fok Ying Tung Research Institute of Hong Kong University of Science and Technology(HKUST) has undertaken 407 research projects with accumulated amount of about 174 million RMB. Meanwhile Nansha FTZ teamed up with HKUST to hold Guangzhou Million Yuan-Award International Innovation Contest. In addition, Guangdong’s nine pilot projects on “1 Trial 3 Certificates” have settled down in Nansha, consisting of 6 pilot projects on work types with Hong Kong and 3 with Macao.

 

Source: Translated from Invest Guangzhou, Feb. 27, 2017