The provincial government of Guangdong and the government of the Hong Kong
Special Administrative Region will jointly sponsor an economic, technology and
trade fair in Hong Kong early next month.
It will be the first time the
Hong Kong SAR government has joined hands with its counterpart in the
neighbouring province of Guangdong to hold such an event in Hong
Kong.
The July 5 fair will become a platform not only for the Guangdong
delegation to secure capital from Hong Kong, but also for Hong Kong to further
promote its investment advantages for Guangdong businesspeople, noted Liang
Yaowen, head of the provincial foreign trade and economic co-operation
department.
The province will promote 160 key projects as well as rich
product categories of trade opportunities for businesspeople in Hong Kong,
particularly those related to service outsourcing, he said.
Liang said
that the Guangdong businesspeople invited to the event would be exposed to
investment opportunities in Hong Kong.
"The time has come for Guangdong
businesspeople to have a stronger presence in Hong Kong," he said. "The
potential for Guangdong's investment in Hong Kong will be
substantial."
He said Guangdong businesspeople set up or expanded
investment for 21 projects in the January-May period, with capital inputs worth
US$167 million.
Guangdong-invested projects totalled 714 in Hong Kong by
the end of 2005, involving investments of US$2.82 billion. And the projects
numbered 54 in 2005 alone, with investment reaching US$235 million.
The
official said that Hong Kong has long been the most important capital source for
Guangdong Province.
Hong Kong businesspeople had set up 89,177
enterprises in the province by May, accounting for 72.58 per cent of the total
overseas-invested enterprises in the province.
Their contractual
investment was worth US$173.35 billion, making up 63.41 per cent of the total in
the province; while committed investment of US$107.83 billion made up 64.21 per
cent, according to official statistics.
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