Carrie Lam eyes more Hong Kong-Tianjin cooperation during new five-year plan period

HONG KONG, April 27 (Xinhua) -- Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Carrie Lam expects Hong Kong and Tianjin will expand cooperation and open up broader space for exchanges during the 14th Five-Year Plan period (2021-2025).

In a video speech addressing the inauguration of an event held in the Tianjin Municipality on cooperation between the two sides on Tuesday, Lam said the two sides have been working to improve economic ties, exchanges between young people, and collaboration in the technological and engineering sectors since the HKSAR government set up its liaison unit in Tianjin in 2017.

Hong Kong is Tianjin's largest source of investment from outside of the mainland and the best platform for Tianjin businesses to go abroad, she said.

In 2020, Tianjin's foreign investment contracts totaled over 36 billion U.S. dollars, of which Hong Kong accounted for nearly 90 percent, and 365 Tianjin companies invested more than 8 billion U.S. dollars in Hong Kong.

With the central authorities' support for Hong Kong to integrate into national development, Hong Kong and Tianjin will be able to expand cooperation and learn from each other in more areas, Lam said.