Shaanxi-Hong Kong enterprises discuss deepening cooperation

The Shaanxi-Hong Kong Seminar on Cross-border Investment Cooperation was held on Thursday in Xi'an, Shaanxi province in Northwest China, aiming to deepen economic and trade exchanges and cooperation between Shaanxi and Hong Kong through dialogue and exchanges.

Sponsored by Hong Kong Trade Development Council, Shaanxi Provincial Commerce Department, Shaanxi Provincial (State-owned Assets Supervision and Administration Commission and Shaanxi Provincial Federation of Industry and Commerce, the seminar attracted more than 20 representatives of 10 Hong Kong companies including Price water house Coopers, Citibank, Establishment International and Vistra Group.

On business negotiation activities, the representatives from both sides said that the Belt and Road Initiative has brought great benefits to overseas investment of Shaanxi enterprises. They hoped that the two sides can jointly play the advantage of "going out" and grasp the development opportunities of the Belt and Road and Big Bay construction, so as to share dividends from overseas development of Chinese enterprises.

The representatives from Shaanxi and Hong Kong enterprises discuss further cooperation at the seminar. [Photo provided to chinadaily.com.cn]

Hong Kong has been the top source of overseas investment in Shaanxi for many years. By the end of 2018, Hong Kong had set up 2,838 Hong Kong-funded enterprises in Shaanxi, accounting for 43.4 percent of the total number of foreign-funded enterprises in Shaanxi.

The total actual investment reached 18.47 billion US dollars, accounting for 38.7 percent of the total foreign investment in the province. The types of investment mainly concentrated in the fields of commerce, real estate, finance and modern service industries.

In 2018, Shaanxi enterprises actually invested 380 million US dollars in Hong Kong, accounting for 58 percent of the province's total foreign investment.

Yuan Chenglin, commercial director of Hong Kong environmental resources management consultant, said that Hong Kong has always been a window for the country to go abroad. Especially since the Belt and Road Initiative was put forward, Hong Kong and mainland enterprises have achieved a more perfect combination of financing and consulting.