Zheng Shanjie, Party chief of the CPC Ningbo Municipal Committee, addresses the 2018 Ningbo-Hong Kong Economic Cooperation Forum held in Ningbo, East China's Zhejiang province on Nov 15. [Photo by Xiang Wenjian/chinadaily.com.cn]

Ningbo and Hong Kong should tap into their respective advantages and potential in economic complementarity to bring about mutual benefits and win-win results, noted a local senior official. 

Addressing the 2018 Ningbo-Hong Kong Economic Cooperation Forum on Thursday, Zheng Shanjie, secretary of the CPC Ningbo Municipal Committee, urged that both sides further expand connectivity and cooperation in sectors such as manufacturing, modern services, shipping, foreign trade and education. 

"Opening-up and collaboration are significant engines for economic and social development," he said, expressing the hope that Hong Kong compatriots sustain efforts in cementing links and promoting a common economic prosperity between the two sides. 

"We warmly welcome Hong Kong businessmen to invest in Ningbo, sharing the dividends of the city's high-quality development," he added, pledging that the government will provide them premium services as well as a favorable business environment which is fair and efficient. 

Hong Kong is the largest source of overseas capital for Ningbo and a primary investment destination for the city's businesses. 

Official statistics show that as of September, a total of 6,834 Hong Kong-funded businesses had landed in Ningbo while the figure for the companies and institutions established by Ningbo in the special administrative region were 683, 12 of which have gone listed. 

According to Zhou Qiliang, vice president of the Hong Kong Trade Development Council, Hong Kong and Ningbo could strengthen bilateral ties by utilizing opportunities generated by the Belt and Road Initiative. 

Hong Kong is an international financial center, a hub for trade and shipping, and a key focal point in the BRI, he said, while Ningbo, which has the busiest port in the world by cargo tonnage, is endeavoring to build itself into a hub underpinning the initiative and a magnet for global capital. 

He added that Ningbo is able to go out and promote more companies to the world by leveraging the SAR's strength in terms of finance, information, services and global trade networks.

"Despite the challenges caused by the US-China trade frictions, I still believe that, with the pioneering spirit, Ningbo and Hong Kong will embrace new development opportunities and march into the new era in a concerted effort as the forum theme indicates," he added. 

The Ningbo-Hong Kong Economic Cooperation Forum has promoted the signing of 258 deals worth $25.5 billion between the two sides to date since 2002, when the event was first held.

Zhou Qiliang, vice president of the Hong Kong Trade Development Council, delivers a speech at the 2018 Ningbo-Hong Kong Economic Cooperation Forum held in Ningbo, East China's Zhejiang province on Nov 15. [Photo by Xiang Wenjian/chinadaily.com.cn]