The contract signing ceremony of the 20th Beijing-Hong Kong Economic Cooperation Symposium was held in Beijing on Nov 4.

Zhou Maofei, director of State-owned Assets Supervision and Administration Commission, delivers a speech at the contract signing ceremony of the 20th Beijing- Hong Kong Economic Cooperation Symposium.[photo/bjwzb.gov.cn]

Fourteen major projects, worth of 4.74 billion dollars, were signed at the event. Twelve projects were Hong Kong invested projects in Beijing, with a total amount of 4.72 billion dollars; 2 were Beijing-invested projects in Hong Kong, worth of 20 million dollars.

Iris Wong, director of Belt & Road and External Relations of the Hong Kong Trade Development Council (HKTDC), delivers a speech.[photo/bjwzb.gov.cn]

The projects signed this year range from high-tech industry, high-end productive service industry, high-level lifestyle service industry, and high-value cultural creative projects.

Guests discuss at the forum.[photo/bjwzb.gov.cn]

This is the first time that Beijing’s direct investment in Hong Kong exceeded Hong Kong’s direct investment in Beijing. From January to August in 2016, Hong Kong set up 318 enterprises in Beijing, using 5.14 billion dollars of foreign capital, 41.5 percent of Beijing’s total foreign capital usage; Beijing invested 7.56 billion dollars in Hong Kong, increasing 127.4 percent, accounting for 58.7 percent of Beijing’s total foreign direct investment. About half of Beijing’s foreign investment was went through Hong Kong.

Beijing- Hong Kong Economic Cooperation Symposium has promoted 152 enterprises in Beijing to go listed in Hong Kong.