The7th WCIFIT | Focusing on Modern Services Sector: Chongqing and Hong Kong Sign Seven Cooperation Projects

On May 22, a key event of the 7^th Western China International Fair for Investment and Trade (WCIFIT) - titled "Channeling Global Business Through Hong Kong" Chongqing-Hong Kong Modern Services Industry Cooperation Forum - was officially convened. The event witnessed the signing of seven cooperation projects between Chongqing and Hong Kong.

The agreements specify that Yuzhong District, Jiangbei District and Nan'an District will leverage Hong Kong's strategic advantages to deepen collaboration in three key areas: facilitating mainland enterprises' listings on Hong Kong exchanges, enhancing cross-border financial connectivity, and accelerating green finance innovation. These initiatives aim to bolster the development of Chongqing as the Western Financial Center. Notably, four major institutions - Ming De Group, YouLiang Science & Technology, Zeyuan Energy, and the Western Green Finance Research Institute - will respectively collaborate with prominent Hong Kong organizations including the Securities Board of The Guangdong-Hong Kong-Macao Greater Bay Area Listed Companies Federation, the Greater Bay Area Human Resources and Management Executives Association, and Federation of Hong Kong Entrepreneurs in Chongqing to advance cooperation in the financial sector.

At the event, Jacky Chung, director of the Chinese mainland of Hong Kong Trade Development Council (HKTDC), emphasized that modern services represent the core focus of Chongqing-Hong Kong economic and trade cooperation. Over the past two years, Hong Kong has facilitated the participation of 2,405 enterprises in various business matching initiatives to address diverse development needs. Concurrently, Chongqing has organized 29 inspection tours, exchange programs, and business matching activities specifically tailored for Hong Kong businesses.

A notable example at this year's WCIFIT Hong Kong exhibition hall is the cleaning robot developed by a Chongqing-based enterprise. This company not only completed its financing and listing through Hong Kong but has also successfully distributed its products to markets including Germany and France via Hong Kong's commercial networks.

Furthermore, Hong Kong and Chongqing have strengthened collaboration in developing the Open Logistics Corridor. In August last year, through the joint efforts of the Chongqing Municipal Commerce Commission, HKTDC, and other relevant parties, Chongqing officially launched the Chongqing-Shenzhen-Hong Kong Scheduled Freight Train service connecting the Greater Bay Area. Utilizing this rail link, goods from Chongqing can reach Shenzhen within two days and Hong Kong within three days, thereafter accessing global markets through Hong Kong's international shipping routes.

Jacky Chung stated that Chongqing and Hong Kong possess tremendous potential for cooperation in producer services and other fields. In the future, the two regions will join hands to further deepen collaboration, promote high-quality economic development, jointly explore global markets, and achieve mutual benefits.

At the event, multiple guests also shared their insights on the theme of "Leveraging Hong Kong's Financial Markets to Facilitate Chongqing Enterprises' Global Expansion". For instance, one guest noted that Hong Kong can provide enterprises with diversified financing channels and abundant funding sources. This approach will enable Chongqing to achieve deeper openness and cooperation with Hong Kong across finance, technology, talent, and other sectors, ushering in a new chapter of Hong Kong-Chongqing collaboration.

"We are delighted that Chongqing has invited Hong Kong to serve as this year's WCIFIT Guest City of Honor", said Jacky Chung. He added that Hong Kong will participate in this year's WCIFIT under a "1+1+7" model, comprising one thematic event, one exhibition, and seven specialized sharing sessions to showcase the scope and achievements of Chongqing-Hong Kong cooperation.

Additionally, during this year's WCIFIT, Hong Kong will host seven thematic sharing sessions at the Hong Kong exhibition hall, focusing on finance, healthcare innovation, technology, and other key areas. These activities fully demonstrate Hong Kong's commitment to integrating into the national development strategy while leveraging its unique advantages on the global economic stage.

Source: New Chongqing - Chongqing Daily