Guangxi promotes investment and cooperation in HK

The Presentation on Guangxi Integrating the Guangdong-Hong Kong-Macao Greater Bay Area -- Hong Kong 2019 event kicked off in Hong Kong on May 15, and Guangxi and Hong Kong reached an agreement on setting up a cooperative mechanism to expand cooperation in various fields.

Sponsored by the People's Government of Guangxi Zhuang autonomous region, the presentation is a chance for both regions to promote communication and exchanges, while speeding up the integration of Guangxi into the Greater Bay Area.

Guangxi, which neighbors the Greater Bay Area, is a key economic hinterland. It is a supplier of raw materials and farm products, as well as a bridge for enterprises in the Greater Bay Area to expand into the ASEAN market. Facing a new round of development opportunities, both regions will work together to implement the outline development plan for the Guangdong-Hong Kong-Macao Greater Bay Area, as well as seek cooperation in major development programs and construction projects to achieve coordinated development, according to Lu Xinshe, the region's Party secretary.

Lu suggested that Guangxi and the Greater Bay Area should participate in the Belt and Road Initiative together, put emphasis on the construction of the New International Land-Sea Trade Corridor, and promote the development of major projects, including infrastructure connectivity and launching international routes.

Chief Executive Carrie Lam Cheng Yuet-ngor of the Hong Kong Special Administrative Region said that the presentation will offer a great chance for Guangxi to further deepen the economic interaction and cooperation between the region and 11 cities from the Greater Bay Area. Guangxi is expected to take advantages of the open and free platform provided by Hong Kong to explore more business opportunities, in order to achieve mutually beneficial results for both regions.

Statistics show that Guangxi attracted available funds of 338 billion yuan ($49.15 billion) from the Greater Bay Area in 2018, accounting for about 40 percent of the region's total number. By the end of this March, more than 6,900 Hong Kong enterprises have settled in Guangxi with a contract amount of $28.1 billion, ranking first in using overseas capital in Guangxi.

At the presentation, a total of more than 20 contracts were signed, covering 14 prefecture-level cities in Guangxi.