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Hong Kong, Beijing boost innovation


Two cities harness complementary strengths to developing new productive forces.


The Hong Kong Special Administrative Region Government is boosting its development of novel productive forces, deploying the city's basic research and development capabilities and the advantages brought by its global status, and actively taking on the national development strategy.

The Hong Kong Trade Development Council (HKTDC) is also striving to promote the transformation of Hong Kong’s innovation and technology sector through initiatives and activities to contribute to China’s high-quality development.

Business and political leaders from Beijing and Hong Kong attended the Developing New Productivity - Unlimited Opportunities for Hong Kong-funded Enterprises business seminar, where they learned about opportunities these initiatives bring. The Hong Kong SAR Government office in Beijing, the Beijing Municipal Commerce Bureau and the Hong Kong Chamber of Commerce in China, supported by the HKTDC, hosted the roundtable.

The event invited experts to analyse foreign investment policies and opportunities to develop productive forces. They also analysed investment opportunities and challenges for Hong Kong-funded enterprises in the mainland. The event drew nearly 200 delegates.

Delegates included mainland and Hong Kong government officials and representatives of chambers of commerce. Key delegates included Rex Chang, Director of Hong Kong's Beijing Office, Guo Wenjie, Member of the Party Leadership Group and Deputy Director of the Beijing Municipal Commerce Bureau, Judith Yu, President of the Hong Kong (Region) Chamber of Commerce in China, Amy Yuen, Deputy Director of the Hong Kong Office in Beijing, Hong Kong and Kevin Chan, North China and Northeast China Director for the HKTDC, as well as Vinci Chan, Assistant Director of the Hong Kong Liaison Office in Beijing.

Mr Chang said that as the country vigorously builds a modern industrial system and accelerates development of new productive forces, Beijing-Hong Kong cooperation will bring in a host of new opportunities.

Beijing has a superior modern industrial system foundation while Hong Kong has international competitive advantages in finance, innovative technology, trade, professional services and other fields, creating highly complementary industries. By strengthening the research and development and application of new productive forces, Beijing and Hong Kong can jointly promote industrial upgrading and innovative development and enhance the overall competitiveness of the economy.

Mr Guo said the complementary nature of the two cities brought great potential for cooperation. He suggested that both sides should seize investment opportunities, cultivate productive forces, benchmark against high international standards, promote cooperation in capital, industry and institutions, and work together to write a new chapter of win-win cooperation between Beijing and Hong Kong.

Mr Chan said Hong Kong can help the country develop productive forces in talent, capital, markets and vision. Hong Kong has advantages in attracting high-end talents, introducing and cultivating first-class scientific and technological innovation enterprises, and can serve the transformation of scientific and technological achievements and the application of scientific research capabilities of enterprises.

As an international financial centre, Hong Kong has unique advantages and rich experience, helping enterprises extend overseas while providing investment and financial services. Hong Kong has the advantage of being backed by Mainland China and connecting to the world. Hong Kong is a global superconnector and one of the world’s largest global trade centres; in terms of global perspective, Hong Kong can make enterprises more competitive.

Innovation is a key growth engine and Hong Kong has integrated relevant elements into different work areas to consolidate the city’s position as an international innovation and technology centre. Hong Kong is a platform to reach the global innovation and technology ecosystem to promote knowledge exchange, business matching and promote the commercialisation of scientific research results.

The HKTDC has also launched the Mainland Enterprise Internationalisation Service Plan to encourage firms to use the Hong Kong platform to go global, make good use of global talents, funds and markets and allocate global resources. Enhance international competitiveness.

Improving innovation capabilities has become a common goal for Beijing and Hong Kong. The 14th Five-Year Plan also defined Beijing and Hong Kong's positions in the field of technological innovation. The HKTDC has jointly organised the Beijing-Hong Kong Cooperation Fair with Beijing every year since 1997, and it has become an important platform for cooperation between Beijing and Hong Kong.

Among them, the Beijing Municipal Science and Technology Commission, the Zhongguancun Administrative Committee and the HKTDC jointly launched the Beijing-Hong Kong Science and Technology Collaborative Innovation Platform cooperation mechanism, creating service systems such as scientific research cooperation and technology finance to promote science and technology in the two places.

The Beijing Municipal Science and Technology Commission and Zhongguancun technology hub in Beijing organised a delegation to the HKTDC's InnoEX earlier this year to showcase scientific and technological cooperation capabilities and exchange views with their global peers.

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