Relations between Fujian and Hong Kong get stronger

A delegation from Fujian and entrepreneurs from Hong Kong pose for a photo at a meeting in Hong Kong on June 28. [Photo/WeChat ID: fjswwxgzh]

Economic, trade and financial cooperation between China's Fujian province and Hong Kong has been deepening in recent years due to regular high-level meetings between government officials, delegation visits and business matchmaking and promotion activities.

Today, Hong Kong is the largest source of foreign investment for Fujian and where many Fujian enterprises choose to be listed.

Located near one another, the two sides have for many years enjoyed close ties because of their similarities in culture. Among Hong Kong residents, more than 1.2 million - about one-sixth of the city's total population - are Fujianese.

According to official data, 786 new Hong Kong-funded enterprises were established in Fujian province, a year-on-year increase of 3.8 percent, in 2022. These enterprises had a combined capital of $5.09 billion, with the actual utilization of capital totaling $3.47 billion, accounting for 69.4 percent of the actual utilization of foreign capital in the province that year.

As of the end of April, nearly 70 Fujian-based enterprises with equity financing totaling HK$130 billion ($16.6 billion) were listed in Hong Kong.  

Fujian and Hong Kong, which have joined hands to launch various cultural tourism programs encouraging residents to visit each other, are currently exploring new ways to cooperate in cultural tourism.

People-to-people exchanges, especially interactions between the young people of both sides, have also been getting stronger. For example, Hong Kong teenagers have been provided many opportunities to go on study trips to Fujian, and a series of measures have been implemented to attract college graduates from Hong Kong to work and start businesses in Fujian.