Tang Bingquan, Executive Vice Governor of Guangdong Province

The highest-level Delegation of Guangzhou, including 200 businessman led by Tang Bingquan, Executive Vice Governor of Guangdong Province, visits Hong Kong.

Hong Kong SAR Chief Executive Tung Chee-hua meets Guangzhou's Mayor Zhang Guangning

The highest-level Delegation of Guangzhou, including 200 businessman led by Tang Bingquan, Executive Vice Governor of Guangdong Province, visits Hong Kong this week signing 50 GZ-HK cooperation projects valued at 13.1 billion Hong Kong Dollars and seeking business opportunities to invest in Hong Kong.

Tang Bingquan shakes hands with Donald Tsang Yam-kuen HK SAR Chief Secretary for Administration

To encourage private ventures to invest abroad, Guangdong government will improve the related systems for private ventures 'going outward'. Tang Bingquan says.

Hong Kong is the biggest trade partner of Guangzhou. More than 8000 Hong Kong enterprises invested in Guangzhou. However, Statistics show that only 84 Guangzhou companies have invested in Hong Kong with total contracted investment of US$220 million. Hong Kong welcomes Guangzhou's enterprises to establish high value-added manufacturing, trade and service ventures in Hong Kong.

We are to further introduce Guangzhou to Hong Kong people and seek closer economic cooperation with Hong Kong ventures, says Zhang Guangning, Mayor of Guangzhou.

Zhang speaks of the construction of the Nansha Economic Development Zone in Guangzhou, where Hong Kong ventures have invested heavily with high value.

It is high time to develop Nansha's tertiary industry. Auto making, shipbuilding and steel production projects are already proceeding smoothly. Zhang said Guangzhou's Metro would link Nansha in 2007 and the shipbuilding base would be finished by 2008.

Trade opportunities brought by 2010 Asian Games

Guangzhou's successful bids for 2010 Asian Games will bring vast business opportunities on infrastructure construction involving some 220 billion yuan.

To Hong Kong, the business opportunities brought by 2010 Asian Games in Guangzhou is far more than that brought by 2008 Olympic Games in Beijing, says Henry Tang Ying-yen, Financial Secretary of the Government of the Hong Kong Special Administrative Region.

Further financial cooperation

As an economic center of South China, Guangzhou's financial industry does not keep up with its economic development. The foreign capital attracted mainly comes from Hong Kong's financial market and service industry.

At present, Hong Kong Exchanges and Clearing Limited has applied to China Securities Regularly Commission for establishing offices in Guangzhou. And Guangzhou government steps to communicate with Hong Kong securities service agencies to promote financial cooperation.

Complementary cooperation

Guangzhou's logistic policy and environment is in continuous improvement. Guangzhou's logistic companies will benefit from Hong Kong's management experience, capital, and human resources. Hong Kong strengthens service industry chain and improves its international competitiveness through cooperation with Guangdong.

Jointly developing manufacturing industry

In the next 10 and 20 years, Hong Kong aims to maintain its role as an important international financial, and logistics center, Guangdong is to further develop its manufacturing sector. The two regions are to urge shop-factory collaboration.

Guangzhou, center of the manufacturing base, will attract more investment from Hong Kong to increase production. Meanwhile, Guangzhou will establish research center to create regional brand names.

Editor: Donald