China Committee
Guo Zhouming, Deputy Director of the Department of Commerce of Inner Mongolia Autonomous Region, led a delegation to the Chamber on 31 July, where they were received by Edmond Yew, Vice Chairman of the China Committee.
Guo said there were over 100 Hong Kong-based companies among the million-dollar enterprises in Inner Mongolia which mainly focus on the energy and hospitality industries. He added that Inner Mongolia will also host the fourth China-Mongolia Expo in Hohhot from 6-10 September to promote high-quality development, and invited the Chamber to attend the exhibition to explore business opportunities. In October, a delegation will visit Hong Kong to promote investment.
Edmond Yew, China Committee Vice Chairman, represented the Chamber at “2023 Xuzhou – Hong Kong Investment Promotion”, a seminar on 1 August hosted by Song Lewei, Secretary General of the Xuzhou Municipal Committee of the Communist Party of China in Hong Kong. The two economies enjoy cooperation in various areas including trade, culture and technology, with Hong Kong enterprises investing over US$15 billion in Xuzhou in the past two decades. During the seminar, 25 deals were signed with a total agreed investment of RMB 29.4 billion. The implementation of these major projects will serve to boost high-quality development in Xuzhou, is one of the core cities of the Huaihai Economic Zone.
A business symposium on the theme “unleashing the impetus for Hong Kong’s greater prosperity” threw plenty of light on the city’s future and plans to boost economic growth. The event, held on 2 August, was organized by the Hong Kong Trade Development Council with seven chambers of commerce including the HKGCC.
It was attended by Chief Executive John Lee, Finance Secretary Paul Chan, Zheng Yanxiong, the director of the central government’s liaison office, other top officials, as well as the Chamber’s Deputy Chairman Agnes Chan and CEO Patrick Yeung.
In his speech, the Chief Executive highlighted the 33 bilateral deals Hong Kong inked with Singapore, Indonesia and Malaysia recently, and revealed plans for more international missions in the future.
Speakers at the conference included the Chamber Vice Chairman Guy Bradley, who discussed the development of Hong Kong’s aviation industry, as well as how Swire is supporting the city’s growth. Other topics included the banking and financial industry’s efforts to tap the GBA market and HSBC’s plans to promote cross-border banking and green finance, on which General Committee member David Liao shared his expertise.
Cai Chaolin, Vice Mayor of Guizhou, hosted a symposium on Guizhou-Hong Kong Economic, Trade, Cultural and Tourism Cooperation in Hong Kong on 7 August. China Committee Vice Chairman Edmond Yew attended the conference, which focused on Guizhou’s economic development and policy opportunities, as well as the advantages of doing business with local enterprises.
China’s data privacy laws dictate that businesses must follow stringent mechanisms for outbound transfer of data, which can be challenging to implement. At a business luncheon on 8 August, Chiang Ling Li, Partner at Tiang & Partners, explained to members the latest regulations for transferring data out of China to their offices in Hong Kong or overseas. To keep from inadvertently breaking the law and to ensure compliance, companies must thoroughly evaluate their data export activities and act cautiously, as harsh penalties can be imposed for non-compliance. Marco Gander, APAC Data Privacy at LGT Bank, and Shawn Xiaosheng Li, Director Global Privacy GCA at Adidas, also shared their views on the topic.
China Committee Vice Chairman Felix Lee represented the Chamber at the Zhuhai Doumen District Hong Kong Tourism Promotion Investment Seminar on 10 August. The session was hosted by Su Hu, Party Secretary of Doumen District. Discussing Doumen’s tourism resources, Deputy District Chief Wang Yuchen said Hong Kong was the largest source of foreign investment, which was about US$754 million in 2022. He also said the “Self-Drive Scheme” initiative had provided new opportunities for exchange and cooperation between the two economies. In 2022, Doumen ranked first in terms of GDP growth rate, fixed asset investment, and average industrial investment growth rate in the entire city. In the first half of 2023, the district achieved a year-on-year growth rate of 6.9%, taking the crown for Zhuhai’s GDP growth rate.
Feng Yaqiang, Director of the United Front Work Department of Xingtai, Hebei Province, visited the Chamber on 11 August. The delegation, which included Wang Gencai, Secretary of CPC Xingtai Municipal Party Committee, Federation of Industry and Commerce, was met by CEO Patrick Yeung and Edmond Yue, General Committee member and Co-convenor of the Belt and Road Working Group.
At the meeting, the Chamber signed a Memorandum of Understanding with the Xingtai Municipal Federation of Industry and Commerce to promote cooperation and deepen ties between the two sides. With 17 provincial-level economic development zones, Hebei ranks 18th in terms of optimized business environment in China.
Liu Aijun, Director of Neiqiu Investment Promotion Service Center, also shared the latest developments in the traditional Chinese medicine (TCM) industry. The province, which has 16 provincial-level manufacturing bases that produce medicinal materials, is widely regarded as the birthplace of Chinese medicine.
To mark the 20th anniversary of CEPA (Mainland and Hong Kong Closer Economic Partnership Arrangement), the Chamber jointly organized a roundtable luncheon with five other chambers of commerce on 14 August. The event was attended by Algernon Yau, Secretary for Commerce and Economic Development, and Anson Lai, Deputy Director-General of Trade and Industry Department. Deputy Chairman Agnes Chan, HKGCC Legislative Council Representative Jeffrey Lam, CEO Patrick Yeung, and Felix Lee, Vice Chairman of the China Committee, represented the Chamber. Topics of discussion included Hong Kong’s development, economic cooperation with the ASEAN region, strengthening CEPA, and promoting the development of the Greater Bay Area and the Belt and Road initiative.
Beijing Fazheng Industry Group Vice President & CEO Pan Jun and Director of International Affairs Lin Yao, visited the Chamber on 16 August, where they were welcomed by Felix Lee, Vice Chairman of the China Committee.
Sharing updates on the development of the education sector in the Mainland, Pan said the Fazheng Group was striving to provide pupils with international quality education, such as organizing satellite classrooms that give students the opportunity to learn English from foreign teachers. Fazheng is working to attract and nurture more international talent to its shores to help boost the China’s development.
The Hong Kong-Tibet Linzhi Investment Promotion and Economic and Trade Matchmaking Conference was held in Hong Kong on 17 August. Qin Songmao, Deputy Mayor of Linzhi City, gave an informative presentation on the area’s natural resources, population and ethnic groups, as well as prospects for economic development.
Linzhi’s rich and diverse agricultural resources include over 100 specialty products, such as matsutake king mushrooms, honey, apples, tea and saffron. Qin said enterprises in Linzhi would fully utilize the connections with Hong Kong to explore markets, build brands and expand business opportunities. Chamber members joined the conference, which was organized by the Linzhi Municipal People’s Government.
Yao Gang, Vice Inspector, Department of Commerce of Heilongjiang Province, led a delegation to the Chamber on 18 August, where they were received by Edmond Yue, General Committee Member and Belt & Road Working Group Co-convenor.
Heilongjiang is focusing on high-quality development via the growth of its digital economy, bioeconomy, the snow and ice industry, as well as its creative design sectors. A delegation also participated in the HKTDC Food Expo in Hong Kong (17-21 August) to promote the province’s specialty foods, such as Wuchang rice, through companies including Qiaofu Daoyuan and Shiyue Daotian Group.
Yan Dewen, Vice Inspector, Department of Commerce of Jilin Province, visited the Chamber on 18 August to share updates on the development of Jilin’s snow and ice economy, which is centred on tourism, sports, and culture. The province ranks second in China in terms of fiscal revenues, which increased by 41.2% in the first half of 2023. In a meeting with Edmond Yue, General Committee Member and Belt & Road Working Group Co-convenor, Yan said Jilin had many ski resorts and tracks, and would make full use of its excellent natural conditions and resources to promote the industry.
Chamber CEO Patrick Yeung received a delegation from Yunnan Province on 18 August. Sun Ying, Research Associate, Department of Circulation Development and Business Service Industry, Department of Commerce of Yunnan, said many enterprises from the province, which is known for its specialty agricultural products such as tea and fruit, took part in the HKTDC Food Expo in August. He hoped that the exhibition would act as a platform for Yunnan companies to explore new markets and business opportunities. The two sides also discussed opportunities in tourism, transportation, green energy and other industries.
Zhang Leiming, Standing Committee Member of the Henan Provincial Committee and Minister of the United Front Work Department of Henan, led a delegation to the Chamber on 23 August, where they were welcomed by Agnes Chan, Chamber Deputy Chairman, and Chamber CEO Patrick Yeung.
Henan is an agricultural province with a household population of hundreds of millions. Its wheat output accounts for a quarter of the country’s total production. With a GDP of RMB 6 trillion in 2022, Henan is China’s fifth-largest provincial economy. Zhang said he hoped to leverage Hong Kong’s resources and regional advantages to develop the Belt and Road market for Henan enterprises, as well as strengthen cooperation in terms of technological innovation, capital market and logistics.
Chamber Deputy Chairman Agnes Chan welcomed Chen Xiaofeng, President of CCPIT Guangdong Committee, to the Chamber on 23 August. Chen said Hong Kong capital accounted for 85% of the enterprises investing in Guangdong, as Hong Kong and Guangdong are closely connected. The two sides explored the possibility of setting up a mechanism to strengthen cooperation and promote the high-quality development of the Greater Bay Area.