West Coast New Area

Qingdao, Hong Kong to deepen cooperation

( | 2024-05-30


Qingdao signs a total of 16 project agreements with a planned total investment of $1.66 billion at the Hong Kong-Macao-Shandong Week. [Photo/Bandao News]

Qingdao in Shandong province will deepen cooperation with Hong Kong, joining hands with the city as they strive to bring about a mutually beneficial future, according to news released at the Qingdao-Hong Kong Economic and Trade Cooperation Conference, which was held in Hong Kong on May 28.

During the conference, Wang Bo, deputy mayor of Qingdao, introduced Qingdao's strong industrial foundation, abundant marine resources, geographical advantages, and efforts to increase its level of openness.

Wang added that to date, Hong Kong has cumulatively invested in and operated 6,444 projects in Qingdao, with a total investment exceeding $50 billion, making it the largest source of foreign investment for the city. Currently, Qingdao is vigorously revitalizing its real economy, accelerating the cultivation of new quality productive forces, and promoting green, low-carbon, and high-quality development.

Qingdao is expected to strengthen cooperation with Hong Kong in five major areas - technological innovation, international shipping, international trade, modern finance, and cultural tourism consumption, according to Wang.

Dr Jimmy Chiang, acting director-general of Investment in Hong Kong, stated that Hong Kong and Qingdao are important windows for China's opening-up to the outside world, and the two sides maintain close cooperation. Hong Kong is not only Qingdao's largest source of foreign investment but also an important economic and trade partner.

Chiang expressed hope that both parties will enhance cooperation in areas such as technological innovation, modern finance, and emerging industries. Qingdao will utilize Hong Kong's high degree of openness and internationalization, along with its business-friendly environment and high-quality professional services, to deepen cooperation and jointly explore international markets.

During the Hong Kong-Macao-Shandong Week, Qingdao signed a total of 16 project agreements with a planned total investment of $1.66 billion. Among them were multiple projects focusing on key industries such as smart manufacturing, new energy and materials, modern finance, and cultural tourism.