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Smoother Economic Cooperation between Beijing and HK Expected
The administrations of Beijing and Hong Kong recently decided to set up a coordinating body to develop long-term and more stable economic cooperation.
Chen Gang, vice director of the Beijing Foreign Trade and Economic Cooperation Commission, said that the establishment of such a coordinating body would improve cooperation existing between enterprises of the two cities and make possible sharing of information and joint efforts to prevent and overcome any problems that may pop up.
The future priority of Beijing's cooperation with Hong Kong will be shifted from just attraction of investment to the introduction of advanced technology, modern management and talented professionals, according to Chen.
Beijing would also strive to standardize its management and market operation by borrowing from Hong Kong's successful experience in following international practices, he said.
Qiu Dahong, vice president of the Hong Kong Trade Development Council, said that Hong Kong, being the biggest investor in Beijing, would use this new cooperation platform to provide as many trade and investment services as possible for overseas multinationals and companies of the mainland to enter each other's markets.
Both the two officials agreed that the economic cooperation between the two cities has been taken to a higher level.
Chen referred to the two cities as a couple falling in love who have passed the flirting and guessing stage, and have now got serious enough to talk about "marriage".
To show its sincerity, Beijing for the first time made public, at the recently closed fifth Beijing-Hong Kong Business Cooperation Seminar, its construction projects for both the 2008 Olympic Games and the city's urbanization which involve an investment of 13.9 billion US dollars.
During the two-day seminar, some 30 project contracts have been inked by 600 representatives from both Hong Kong and Beijing with the contractual investment totaling 1.32 billion US dollars.
Liu Qi, mayor of Beijing, also promised at the seminar that Beijing would gradually open up to Hong Kong in all fields the central government of China has approved for opening, and Hong Kong enterprises that invest in Beijing will be regarded as local companies, whatever proprietorship they may be under and whatever administrative organs they may subordinate to.
Wang Weicheng, executive president of a Hong Kong-based company specializing in material circulation, said, "this is a treatment dished up only for the dearest kinfolk."
Wang's company has been reported as having joining hands with the Beijing Jingtai Group to co-develop the city's first material distribution port which involves an investment of 11 billion yuan (about 1.33 billion US dollars).
The first seminar of this kind was held in 1997.
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