Inner Mongolia hosts promotion fair in Hong Kong

(chinadaily.com.cn)

Updated: 2016-11-21

The Inner Mongolia-Hong Kong Business Cooperation Symposium began in the Special Administrative Region (SAR) on Nov 16, with the aim of seeking bilateral cooperation as both regions are strategically located along the Belt and Road trade route.

Officials from Inner Mongolia and the SAR attend the Inner Mongolia-Hong Kong Business Cooperation Symposium held in the Special Administrative Region (SAR) on Nov 16. [Photo/nmgswt.gov.cn]

During the two-day event, agreements on 74 large projects were signed, representing total value of $22.3 billion. Among these projects, 30 agreements were reached representing a sum of $12.8 billion, and 44 contracts were signed involving foreign capital worth $9.4 billion. Most projects involved sectors such as finance, new energy, organic products, e-commerce, tourism, logistics, and entry-exit trade.

At the promotion conference, Bu Xiaolin –– the region’s chairwoman –– said that led by the Belt and Road Initiative, the two regions are expecting significant collaborations in multiple fields. Bu expressed her view that as one of the world’s most open economies, Hong Kong houses a lot of potential for investment and trade with Inner Mongolia.

Bu Xiaolin, the region’s chairwoman, gives a speech during the Inner Mongolia-Hong Kong Business Cooperation Symposium held in the Special Administrative Region (SAR) on Nov 16. [Photo/nmgswt.gov.cn]

Francis Ho, associate director-general of the InvestHK, an investment and promotion department of the SAR government, also expressed his view on the potential for bilateral trade. Ho mentioned that as a core part of the China-Russia-Mongolia Economic Corridor, Inner Mongolia has various advantages and resources that can help build a long-standing partnership with Hong Kong. He claimed that with a liberal business environment and easy access to funding, Hong Kong can take an active role in building Inner Mongolia’s regional and global brands and markets.

Bao Manda, head of the Development and Reform Commission of Inner Mongolia; Sun Weidong, director of the Commerce Bureau of Inner Mongolia; Wang Bingjun, chief of the Economy and Information Technology Commission of Inner Mongolia; Guo Jian, head of the Department of Agriculture and Husbandry of Inner Mongolia; and Bai Wei, an official from the Inner Mongolia Tourism Bureau, introduced the region’s investment environment and advantageous industries.

Officials and businessmen sign contracts after the Inner Mongolia-Hong Kong Business Cooperation Symposium held in the Special Administrative Region (SAR) on Nov 16. [Photo/nmgswt.gov.cn]

The region’s 12 cities and leagues separately held economy and trade promotion fairs, and an exhibition presenting Inner Mongolia’s natural scenery and cultural customs was also hosted by the regional tourism bureau.

The event was sponsored by the People’s Government of Inner Mongolia, the Commerce Bureau of Inner Mongolia, the Development and Reform Commission of Inner Mongolia, the Overseas Friendship Association of Inner Mongolia, the Economy and Information Technology Commission of Inner Mongolia, the Hong Kong Trade Development Council, the Chinese General Chamber of Commerce, Ta Kung Pao, Wen Wei Po, and Phoenix TV.