Jinan woos SAR for a ‘win-win’ era

By Sun Feier| (HK Edition)| Updated : 2018-12-04

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Li Zijun, vice-mayor of Jinan city, said the Shandong provincial capital and Hong Kong have great potential for opening a new era of cooperation at the “Transformation of Growth Drivers Promotion Meeting” on Dec 3, 2018. (Roy Liu/China Daily)

HONG KONG - Jinan — capital city of the northeastern coastal province of Shandong — is teaming up with Hong Kong to strengthen business cooperation opportunities and achieve a win-win situation for the private sector in both cities.

Jinan touted its centuries-old history, natural beauty, business environment and resources at the “Transformation of Growth Drivers Promotion Meeting” in Hong Kong on Dec 3 in a bid to attract talents, resources and capital from the special administrative region.

Li Zijun, vice-mayor of Jinan city, vowed to strengthen bilateral trade and financial ties with the SAR, saying Hong Kong’s superiority, backed by the Chinese mainland and facing the world, gives it an edge in connecting mainland cities with the global market.

“Jinan and Hong Kong have great potential for opening a new era of cooperation in every field, thanks to their deep rooted ties and complementarity, given the series of forums and activities that have been held so far this year,” he said.

Li used a poem to describe the timing of Jinan teaming up with Hong Kong — with the golden opportunities and bright prospects presented by this era, it’s the right time to accelerate development with strong momentum.

Official statistics show that 1,049 enterprises incorporated in Jinan were funded by Hong Kong investors as of October this year — 64 of them being newly added, a 140-percent year-on-year increase.

Located in the region where the ancient Longshan culture (around 3000-1900 BC) originated, Jinan is an active player on the global stage in modern times.

The city’s newly signed contracts involving foreign capital reached 12.52 billion yuan in the first 10 months of this year — up 199.6 percent from a year earlier. It also saw its status upgraded to “Beta level” in a ranking compiled by the Globalization and World Cities Research Network.

Qilu Expressway and Shandong Gold Mining — one of the mainland’s largest miners — completed their initial public offerings on the Hong Kong Stock Exchange this year, raising $159.3 million and $768 million, respectively.

A pioneering city in the Europe-Asia freight train service, Jinan plays an irreplaceable role in the development of the China-led Belt and Road Initiative, said Loretta Wan Shuk-ching, director of publications and e-commerce at the Hong Kong Trade Development Council.

She believed that Jinan, with its unique advantages, and Hong Kong, as a city that excels at financial services, can deepen collaboration in the BRI development and take their relationship to new heights.

Five selected “gazelle” companies — high-growth enterprises in terms of revenue — from Jinan introduced their projects at the forum, showcasing the city’s achievements in key industries, such as big data, a new generation of information technology, intelligent manufacturing and high-end equipment, quantum technology, biomedicine, advanced materials, industrial finance and modern logistics, healthcare, cultural tourism, as well as science and technology services.