Li Jiachao: There are three key directions for further strengthening cooperation between Beijing and Hong Kong in the future

The Zhitong Finance App learned that on November 4, the Chief Executive of the Hong Kong Special Administrative Region, Li Jiachao, said in his speech at the opening ceremony of the 29th Beijing-Hong Kong Economic Cooperation Conference that the Beijing-Hong Kong Fair has been held in 1997, and that the past 30 years have been full of fruit. Political and business leaders, entrepreneurs, and professional elites from the two regions gathered together to promote the complementary advantages, mutual benefit and win-win situation between Beijing and Hong Kong, and work in the same direction as the country's overall high-quality development. Over the years, the areas of cooperation at the fair have gradually expanded from early commerce and infrastructure to high-end fields such as financial services, technological innovation, green and low-carbon, intellectual property rights, and professional services, introducing Hong Kong's international resources to serve Beijing's high-quality development, opening up channels for Beijing's innovative industry to go global, achieving two-way investment and joint development, and played an important role in deepening the collaborative development of Beijing and Hong Kong.

Based on a new starting point and facing a new future. I would like to suggest three key directions for further strengthening cooperation and seeking common development between Beijing and Hong Kong in the future.

First, promote two-way financial openness to inject vigorous momentum into economic transformation. Finance is a traditional area of strength for Beijing-Hong Kong cooperation. It is also the core of serving the real economy and empowering industrial upgrading. Last month, the Asia-Pacific Economic Cooperation (APEC) Finance Ministers Meeting was held in Hong Kong for the first time. It brought together financial officials from the economy and representatives of various international organizations to discuss cooperation, and issued a joint statement of finance ministers, reaffirming their commitment to building an open, dynamic, strong and peaceful Asia-Pacific community to achieve common prosperity for the people of the Asia-Pacific region and future generations. The successful holding of the Finance Ministers Meeting in Hong Kong is of far-reaching significance, fully reflecting the country's trust and support for Hong Kong and its recognition of Hong Kong's status as an international financial center.

The 2026 Financial Street Forum Annual Meeting held in Beijing last month connected Beijing, Hong Kong and London for the first time, gathering strength to brainstorm ideas. Hong Kong is an international financial center, actively connecting the mainland market with global capital. It is the most convenient international financing platform for Beijing enterprises. It serves enterprises to expand their business needs through cross-border capital management, wealth management, and a network connecting global investors.

I believe that Beijing and Hong Kong will continue to work together to optimize capital market arrangements, serve two-way financing for enterprises; join forces to expand green and sustainable finance; expand offshore RMB business, wealth management, family offices and corporate treasury center cooperation, etc., to jointly create a financial openness situation.

Second, deepen the Beijing-Hong Kong innovation and technology linkage, and jointly build a highland for international high-end talents. Currently, the country is making every effort to develop new quality productivity and accelerate breakthroughs in scientific and technological revolution and industrial transformation. Beijing's universities gather, which are the country's science and technology innovation center, and the country's core hub for basic research and talent training; Hong Kong has outstanding internationalization of higher education, five universities rank among the world's top 100, and are making every effort to build an international innovation and technology center. Universities and scientific research institutions in Beijing and Hong Kong have been cooperating for a long time. In the future, they can jointly explore cutting-edge technology, nurture outstanding international talents, and help build a strong nation in education and science and technology.

Under the 15th Plan, Hong Kong is making every effort to build an international university city in the northern metropolitan area, which accounts for one-third of Hong Kong's area, promote collaborative development of industry, education and research, and achieve integrated development of education, science and technology, and talents.

Xintian University City and Hung Shui Kiu University City have gone from a blueprint to a field project. The HKSAR Government encourages participating institutions to take the initiative to cooperate with well-known universities and leading enterprises in mainland China and overseas to develop shared facilities. I believe that University City will write a new chapter in cooperation between universities in Beijing and Hong Kong to jointly cultivate high-end talents and nurture new quality productivity.

The Shenzhen-Hong Kong-Hetao, also located in the northern metropolitan area, is a major cooperation platform for the Guangdong-Hong Kong-Macao Greater Bay Area. The Hong Kong-Shenzhen Innovation and Technology Park in Hetao developed with the concept of one river, two parks in one zone, promoting the flow of innovative elements in Shenzhen and Hong Kong. The Hong Kong-Shenzhen Innovation and Technology Park Corporation will promote cooperative projects with units in Zhongguancun, Beijing, which is a demonstration zone for independent innovation, focusing on the fields of life and health technology, artificial intelligence and robotics, and promoting the connection of scientific research resources and talent exchange. At this year's Zhongguancun Forum, Beijing-Hong Kong-Macao Science and Technology Innovation Forum, representatives from Beijing and Hong Kong jointly discussed artificial intelligence as the core to jointly promote self-reliance and high-quality industrial development. This is a model for innovation and technology cooperation between the two places.

The Beijing-Hong Kong Fair featured a number of special events on scientific and technological innovation, including the finals of the Beijing-Hong Kong Youth Innovation Cup Entrepreneurship Competition. Youth are the future of innovation, and we hope that more young people from Beijing and Hong Kong will work together to create and stand out on the new track.

Third, make good use of Hong Kong's role as a super contact person and super value-added person to empower enterprises to go overseas in all aspects. Faced with the complex and changing international political and business environment in recent years, it is no longer an option for many mainland enterprises to go overseas. Since the establishment of the Hong Kong Special Administrative Region Government's special overseas business class last year, it has efficiently integrated high-level professional services such as finance, law, accounting, and consulting, giving full play to Hong Kong's function as a multinational supply chain management center and protecting enterprises going global.

The special course has assisted more than 340 mainland enterprises, including more than 60 Beijing enterprises to finance in Hong Kong, meet overseas standards, obtain industry certifications and compliance arrangements, etc. The HKSAR Government will continue to promote the work of special classes to serve mainland enterprises to expand overseas business.

Li Jiachao added that the country is rich in wealth, and the ability to go overseas includes not only technology and industry, but also culture and soft power. Beijing is the country's national cultural center, and Hong Kong can become a broad window for Beijing culture to the world.

The Beijing Municipal Administration of Cultural Heritage and the Hong Kong Trade Development Council are teaming up to promote the intellectual property rights and high-precision digital technology of Beijing's high-quality cultural expo, connect with Hong Kong's international licensing platform, and help expand the global market through commercialization models. I am confident that Beijing and Hong Kong will continue their long-standing Chinese culture and tell the Chinese story well on the world stage.

Although Beijing and Hong Kong are thousands of miles apart, the people of the two places are closely linked, and cooperation is deeply rooted. Hong Kong will continue to actively serve the country's needs, work hand in hand with Beijing to transform the fruitful results of Beijing-Hong Kong cooperation into a new impetus for high-quality development, and jointly make new and greater contributions to the country's high-level opening-up to the outside world!