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Guangdong and Hong Kong held the 2009 Business Fair for Hong Kong-Guangdong Economic, Technology and Trade Cooperation yesterday, on which the two sides signed contracts to launch 25 cooperation projects, with an investment of 1.25 billion USD.
Guangdong and Hong Kong鈥檚 cooperation was deepened after the breakout of global financial crisis. In 2008, Hong Kong鈥檚 direct investment contract valued at 23.9 billion USD, up 10.3 percent, while the investment in Guangdong鈥檚 service sector went up by 57.9 percent to 4.41 billion USD. Meanwhile, Guangdong鈥檚 investment in Hong Kong expanded to 5.57 billion USD. In financial cooperation, Hong Kong based banks had set up 83 business units in Guangdong in the first season, with a total capital of 101.1 billion RMB. That is more than half of the total asset of foreign banks in Guangdong. And 66 Guangdong enterprises had listed in Hong Kong stock market. The trade between the two neighbours was 408.28 billion USD, and Hong Kong鈥檚 goods entering mainland via Guangdong customs enjoyed a tax cut of 54.38 million RMB.
Editor: Olivia
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