Betty Yuen, Chamber Chairman, led a 30-member high-level delegation to Beijing on 8-10 November, where delegates exchanged views with Xia Baolong, Director, Hong Kong and Macao Affairs Office of the State Council. During the two-day trip, the delegation called on leaders of various government ministries and departments. Members also visited the Exhibition Center of the Zhongguancun National Innovation Demonstration Zone in Beijing and met with enterprises in the zone. They exchanged ideas with representatives from Hong Kong Professionals (Beijing) Association and the Hong Kong Association of China Business in Beijing.
A delegation from CCPIT Fuzhou led by Chairman Pan Wei called on the Chamber on 24 October. They were received by Felix Lee, Vice Chairman of the China Committee. Fuzhou, the capital of Fujian Province, recorded economic growth of about 5% in the first half of 2023, and actively provides various preferential policies for enterprises looking to start a business there, said Pan.
He also invited members to participate in the Seventh 21st Century Maritime Silk Road Exposition and the 26th Cross-Straits Fair for Economy and Trade in Fujian, which will be held from 18-22 May 2024.
Zheng Yi, Vice Chairman of CCPIT Liaoning, led a delegation to the Chamber on 24 October, where they were received by Felix Lee, Vice Chairman of the China Committee. Located at the heart of the Northeast Asian Economic Circle, Liaoning is an important industrial base in China. Zheng said the economic development of the three northeastern provinces, including Liaoning, was closely linked to Russia due to geographical reasons.
It was a pleasure to welcome António Lei, Director of the Economic Development Bureau of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, on 13 October. Lei and his delegation were received by Chairman Betty Yuen, CEO Patrick Yeung, Vice-Chairman of China Committee Edmond Yew and members.
Lei briefly introduced the features of the Cooperation Zone, especially the “tier-specific” management policy, which fosters talent and capital flow between Macao and Hengqin. The two sides also discussed the business development of Hong Kong enterprises in the Cooperation Zone, in areas such as research and innovation, medical industry, data centres, etc.
The Cooperation Zone is committed to establishing and improving a new system for joint consultation, joint construction, joint management, and common use between Guangdong and Macao.
China's real estate market is facing new challenges, with concerns arising over the potential breaks in the capital chain and insolvencies of real estate giants, such as Country Garden and Evergrande Group. While China's overall economy is improving as normal travel resumes, the escalating real estate debt crisis is dragging down China's economic growth and prospects. At a business luncheon on 27 September, Le Xia, Chief Economist for Asia, BBVA Research, shared his views on China's economic outlook and the future opportunities and challenges for China's real estate development going forward.
A delegation from Commerce and Investment Promotion Bureau of Haitang District of Sanya led by the Head Ji Zhe visited the Chamber on 26 September, where they are received by Petrina Tam, GBA Working Group Convenor.
Hainan is scheduled to completely “closed customs” on 31 Dec 2025. By then, the Hainan Free Trade Port is expected to offer import tariff exemptions for most goods. In order to promote the development of the free trade port, Haitang District has vigorously constructed over the past few years and introduced multiple projects with a total investment value of 200 billion yuan. For example, a total of 35 international-quality hotels are coming up in Haitang District, of which 21 have been built.
Petrina Tam, GBA Working Group Convenor, Edmond Yue, Committee member, Belt & Road Working Group Co-convenor and Edmond Yew, China Committee Vice Chairman led a delegation of 19 members to Zengcheng and Conghua, Guangzhou to study modernization and rural revitalization, as well as to explore opportunities for cooperation in the GBA’s rural areas.
The trip was packed with visits to various sites and places of interest, including Zengcheng Development District Exhibition Hall, Stone House in Paitan Town, Ecology Design Town, Shunchangyuan Wine&Spirit, Jinglipei and celebrating Chinese Farmers' Harvest Festival etc.
Jia Sun, Economist, Hong Kong Financial Research Institute of Bank of China (Hong Kong), discussed China’s economic development and the impact on Hong Kong at the China Committee Meeting on 20 September.
The 2023 Hong Kong-Mainland Joint Business Liaison Committee Meeting on 15 September was attended by around 65 representatives from the CCPIT, HKGCC, CMA, CGCC and FHKI, as well as trade promotion organizations and chambers from Hong Kong and the Mainland. Topics of discussion included further collaboration between committee members, ASEAN and Belt and Road opportunities, and Hong Kong’s integration into the development of the Greater Bay Area.
Ke Biru, Chairman of the CCPIT, Xiamen, led a delegation to the Chamber on 11 September, where they met Chamber CEO Patrick Yeung.
The two sides discussed opportunities in supply chain management, air cargo services, talent admission and business consultation, as well as promoting cooperation and deepening ties between the two sides. Ke invited the Chamber to attend the China International Fair for Investment and Trade (CIFIT) next year. The annual fair, approved by the State Council of the People's Republic of China, is held every September in Xiamen.