Shandong strengthens collaborative ties with HK, Macao

(| Updated : 2023-05-30

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Shandong province has made significant strides in enhancing cooperation with Hong Kong and Macao in recent years, with the aim of establishing a new pinnacle for high-level opening-up and creating an internationally first-class business environment.

As of 2022, Shandong boasts an impressive count of 5,881 Hong Kong-invested enterprises, with the actual capital utilization from Hong Kong reaching a remarkable $80.45 billion. This constitutes a significant portion of the province's total overseas capital, accounting for 64.7 percent. January to April saw a surge in this trend, with Shandong attracting 274 new Hong Kong-invested enterprises, representing a notable year-on-year increase of 42.7 percent. The actual capital utilization during this period amounted to $5.14 billion.


Shandong advances the "vegetable basket" standard system for the Guangdong-Hong Kong-Macao Greater Bay Area's entire industrial chain. [Photo/Dazhong Daily]

Among the noteworthy projects contributing to this cooperation is the Yihai Kerry (Qingdao) Food Industrial Park, established by Kerry Group Holdings Ltd. The first phase of this venture commenced operations in April, marking it as Qingdao's largest production and manufacturing project utilizing overseas capital. Upon completion, the annual output value is expected to reach 45 billion yuan ($6.36 billion), generating tax revenue of 910 million yuan and creating 1,500 job opportunities.

Recently, Shandong Humon Smelting Co Ltd exported 10 tons of silver ingots to Hong Kong after customs clearance at Yantai Customs. Wang Jun, manager of the company's international trade department, reported a year-on-year increase of 14.7 percent in silver exports to Hong Kong, amounting to nearly 1 billion yuan from January to April.

The total import and export value between Shandong and Hong Kong and Macao from January to April amounted to 19.07 billion yuan, indicating a substantial year-on-year increase of 53.9 percent.


Shandong promotes humanistic exchanges and cooperation with Hong Kong and Macao. [Photo/Dazhong Daily]

In a recent development, the first batch of six cold-chain logistics trucks loaded with high-quality agricultural products, including spinach, cucumbers, tomatoes, silk gourds, and zucchini, were directly supplied to markets in the Guangdong-Hong Kong-Macao Greater Bay Area after 48 hours.

These products originated from Gaoqing county in Zibo city and marked a significant achievement under the strategic cooperation agreement signed between Shandong and Guangdong provinces in 2019 to construct the Greater Bay Area Vegetable Basket. Over the past five years, the project has identified 248 vegetable production bases and enterprises, solidifying its positive impact on regional agriculture.

Zhang Hongqi, head of the Shandong Provincial Department of Agriculture and Rural Affairs, has announced provincial plans for a series of promotional activities to raise awareness of local agricultural products. These activities will be held in Shenzhen, Hong Kong, and Macao throughout the year, aiming to strengthen the brand awareness of Shandong's agricultural offerings.