The 2019 Guangdong-Hong Kong-Macao Economic Technology and Trade Cooperation Conference was held in Hong Kong on May 7th.
The conference was co-hosted by the People's Government of Guangdong Province, and both Hong Kong and Macao’s Special Administrative Region Governments.
Some 500 representatives from political and business fields in Guangdong, Hong Kong and Macao attended the conference and contributed to the discussion on economic and trade cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
Among attendees at the opening ceremony were Lin Ji, vice secretary-general of the People's Government of Guangdong Province; Paul Chan Mo-po, financial secretary of the Hong Kong SAR Government; Leong Vai Tac, Secretary for Economy and Finance of the Macao SAR Government.
Cooperation in the Greater Bay Area to be enhanced
In his speech, Lin Ji said that Guangdong, has joined hands with Hong Kong and Macao in building the GBA with high standards. He also explained that Guangdong will strive to create a better system and mechanism to improve the business environment across the 9 cities of the Pearl River Delta.
Lin suggested that in the future, Guangdong, Hong Kong and Macao must take full advantage of existing agreements and preferential policies such as the CEPA (Closer Economic Partnership Arrangement), and strengthen cooperation in service sectors and in scientific and technological innovation.
Paul Chan Mo-po pointed out that the Greater Bay Area provides Hong Kong’s economy with new directions, new markets and new growth drivers. Hong Kong will work to link up the flow of production factors with market rules within the Greater Bay Area.
It will also draw on its own strength as an open business environment while working with Guangdong and Macao to attract foreign investment, and develop international markets in a bid to push its economy towards a more diversified track, creating more opportunities for companies in the future.
Leong Vai Tac said Macao will adhere to its strategic positioning as a world-class tourist and leisure center as well as a service platform for business cooperation between China and Portuguese-speaking countries, so as to contribute to the construction of the GBA.
Macao will make use of its advantages in tourism, conventions and exhibitions, finance, and traditional Chinese medicine, to become a driving force for the Greater Bay Area and strengthen ties with Portuguese-speaking countries.
Trade data between Guangdong, Hong Kong and Macao
According to statistics, Guangdong's imports and exports to Hong Kong and Macao in 2018 totalled 176.38 billion and 2.03 billion US dollars respectively.
By the end of March 2019, investment by Hong Kong and Macao in Guangdong amounted to 291.93 billion and 10.45 billion US dollars respectively, accounting for 2/3 of the total foreign investment actually utilized.
In 2018, the trade volume in the service sector between Guangdong and Hong Kong and between Guangdong and Macao was reported at 688.58 billion and 31.77 billion yuan respectively.
By March 2019, Guangdong's actual investment in Hong Kong and Macao had reached 96.42 billion USD and 470 million USD respectively, accounting for nearly 60 percent of Guangdong's total outbound investment.
Reported by Will, Wang Xiaochun
Edited by Simon