Hong Kong and Shaanxi province can deepen cooperation in areas like innovation, research and development, commercialization of research outcomes, cultivation of innovative enterprises, financing for listings, talent exchanges and higher education.
This would better connect the northwestern Chinese mainland province’s research and industrial strengths with the special administrative region’s financial and internationalization advantages to achieve resource sharing and mutual empowerment, said Financial Secretary Paul Chan Mo-po.
Deeper collaboration will also promote each other’s success, and propel new quality productive forces and high-quality development, he said during a meeting in the provincial capital Xi’an on Friday with Zhao Yide, secretary of the Communist Party of China’s Shaanxi Provincial Committee.
They held in-depth discussions on further boosting cooperation between Shaanxi and the SAR.
Citing Shaanxi’s innovative resources and thriving industrial chains in fields like national hard technology research and development, aerospace and aviation and major equipment manufacturing, Chan said Hong Kong, with its advantages as a global financial center, and in high-end professional services, a common law system and free port status, is an important hub linking the mainland and international markets.
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The finance chief invited representatives of Xi’an enterprises to visit the SAR to discuss teaming up with the city’s enterprises and investment community to explore further cooperation.
Chan toured Xi’an’s Northwestern Polytechnical University and met with the university’s president, Song Baowei. He also held talks with executives of innovation and technology enterprises, and spoke to more than 200 teachers, students and alumni.
Chan said globalization is shifting from an “efficiency first” model to one that places equal emphasis on “efficiency and resilience”, with supply chain security, self-reliance in core technologies, and cross-boundary regulation becoming key considerations.
Hong Kong’s capital, talent and professional services can help to connect Xi’an’s technological achievements with world markets, he said, describing such a model as “Xi’an research and development, Hong Kong empowerment and global application”.
Urging youth to be professionally strong and actively enter the intersection of “finance + technology”, Chan encouraged them to base themselves in the country and look to the world, seize opportunities amid changes, enhance their sustainable competitiveness and grasp the broad opportunities brought about by technological development.
While visiting the Xi’an High-tech Industries Development Zone, he discussed with representatives of 25 enterprises ways of promoting hard technology innovation, facilitating deeper integration among industry, academia, research and application, and expanding Hong Kong-Shaanxi cooperation in technology and innovation, finance and professional services.
Various enterprises expressed strong interest and willingness to access international capital through Hong Kong and further expand into overseas markets.
Chan said they’re welcomed to visit Hong Kong for fundraising and financing, global expansion, as well as technology research and development and advanced manufacturing.
