Northwest Shaanxi Province Eyes HK in Opening-Up

Northwest Shaanxi Province Holds Trade Fair in HK

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Hong Kong has been serving a pilot for Shaanxi Province in the opening-up drive and the development of the overseas-oriented economy, said Cheng Andong, governor of Shaanxi Province, Wednesday in Hong Kong.

Addressing the opening ceremony of the 2001 Shaanxi Investment and Trade Fair Hong Kong, Cheng highlighted the pilot role Hong Kong has been playing in the opening up drive of Shaanxi for years.

The first overseas invested enterprise of Shaanxi was set up by Hong Kong compatriots; the first equity transfer project of Shaanxi was invested by a Hong Kong company; and the first project concerning the transfer of management right of Shaanxi was also purchased by a Hong Kong company, Cheng said.

By the end of April 2001, the Shaanxi provincial government had given approval for 1,571 Hong Kong-funded enterprises, with a contractual investment volume totaling 3,351 million U.S. dollars, and of which, 1,608 million U.S. dollars was in place, he said, noting that the Hong Kong investment tops all overseas investment in the province.

Projects brought to the fair cover the fields of transportation, energy electricity, agriculture, water conservancy and tourism. Exhibition of Shaanxi's culture heritage and performance of traditional arts will be staged concurrently with the fair.