Strengthening ties and leveraging new business opportunities were the objectives of the Chamber’s high-level mission to Shanghai and Hangzhou, Zhejiang from 21-22 November. The delegation, led by Chamber Chairman Agnes Chan, included HKGCC leadership and representatives from various international chambers in Hong Kong.
The journey began in Shanghai, a city with a population of nearly 240 million and GDP of RMB 4.72 trillion in 2023. The delegation met with prominent leaders such as Chen Tong, Standing Committee Member of the Shanghai Municipal Committee and Minister of the Shanghai United Front Work Department, who shared insights into the city’s latest developments.
Shanghai is being positioned as an international hub across “five centres” of growth – economy, finance, trade, shipping and technological innovation – making it a crucial player in the Yangtze River Delta’s economic landscape. Chen emphasized the importance of building stronger ties between Shanghai and Hong Kong, highlighting the latter’s role as a gateway for foreign investment.
Hong Kong has been a pivotal player in Shanghai’s growth, contributing over 60% of the city’s foreign investment. This substantial involvement has been instrumental in shaping Shanghai into a global powerhouse across five key areas: economy, finance, trade, shipping, and technological innovation. The hope is that by fostering closer exchanges, both cities can further enhance their cooperation, unlocking even greater opportunities for mutual growth and development.
Zhu Min, Party Secretary and Director of the Shanghai Municipal Commission of Commerce, reiterated the Central Government’s strategic vision for developing the “five centres” in Shanghai. He also highlighted the significant progress made since the Shanghai-Hong Kong Cooperation Conference in 2003, which has fostered increasingly close economic and trade exchanges between the two cities.
While Shanghai serves as a vital bridge for enterprises looking to expand globally, Hong Kong possesses unique advantages in finance and professional services, making it an ideal gateway for Mainland firms aiming to enter overseas markets.
He expressed hope that the Chamber and its member companies would continue to act as “super connectors,” leveraging the “Hong Kong channel” to enhance investment, commerce, and trade – collaboration that is crucial for deepening economic ties and promoting mutual growth between Shanghai and Hong Kong.
Shou Ziqi, Vice Chairman of the Shanghai Municipal Committee of the CPPCC and Chairman of the Shanghai Federation of Industry and Commerce, shared data on the latest economic and social developments in Shanghai. He also thanked the Chamber for its longstanding support, which has contributed to Shanghai’s growth and robust ties with Hong Kong.
Visiting the Shanghai Urban Planning Exhibition Center provided valuable insights into the city’s evolving landscape. Additionally, discussions with representatives from the Hong Kong Economic and Trade Office (Shanghai) and the Hong Kong Chamber of Commerce focused on identifying business opportunities and enhancing cooperation. The goal is to support more Mainland companies in their global ventures, including exploring markets in Hong Kong.
During a meeting with Lu Shan, Deputy Governor of Zhejiang Province, he highlighted Zhejiang’s commitment to leveraging its strengths to create a broader platform for deepening cooperation. Both regions can achieve a win-win scenario by complementing each other’s strengths. The meeting included key officials such as Xu Xu, Deputy Director of the CPC Zhejiang Province Committee’s United Front Work Department, Lu Yong, Deputy Director-General of the Zhejiang Provincial Department of Commerce, and Wu Haiyu, President of the Zhejiang Provincial Federation of Industry and Commerce.
Reflecting on the mission, Chan said Hong Kong and Shanghai have maintained a close relationship, especially in finance and trade. She explained that international cooperation has always been a mainstay of the Chamber’s work to strengthen ties and enhance economic and trade collaboration.
The outreach initiative will also help the international community to better understand development and market opportunities in Shanghai and Zhejiang. By acting as a super-connector, the Chamber will promote connections between the Mainland and the world through our extensive network, boosting two-way investment and assisting Mainland firms in accessing overseas markets.
The mission also included visits to several local businesses, including Timeaxis Digital Studios Co. Ltd and Huaguoshan Funtek in ArtInno Town, Dahua Technology and LianLian DigiTech at Hangzhou High-tech Zone (Binjiang), and Loong Air, Zhejiang.
"Participating in the high-level business mission was truly a privilege. The tour organized by the Chamber secretariat was exceptional, providing valuable opportunities to engage with key stakeholders from the business and political leadership of Shanghai and Zhejiang. I found it inspiring to learn about their visionary development plans. I was particularly impressed by their technological advancements and dynamic growth."
Dewan Saiful Alam, Chairman, Asia, Africa and Middle East Committee
"Shanghai officials are very familiar with Hong Kong and shared their willingness to work closely with us. While Shanghai is well connected to the Mainland, Hong Kong is well connected with the rest of the world. We should find a way to connect and complete the global business network.
Hangzhou boasts impressive technology. I believe Hong Kong has to move fast in fields like the digital economy. Hong Kong can also act as a hub, helping Hangzhou export relevant technologies worldwide."
Anthony Ng, Vice Chairman, Financial & Treasury Services Committee
"I want to thank HKGCC for organizing this mission. I was particularly impressed by the vibrant cultural exchange between Hong Kong, Shanghai and Hangzhou. The enthusiasm and creativity of the young people we met were contagious. It’s truly inspiring to see how we can collectively shape our futures and foster a vibrant business ecosystem that benefits both regions."
Kingsley Fong, Vice Chairman, Young Executives Club