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International trade

Hong Kong and Hunan Strengthen Economic and Trade Ties

Strategic Insights

— 1 min read

Hong Kong and Hunan, a province in south-central China, are deepening their economic and trade ties, with Hong Kong serving as a significant source of external investment and a major trading partner for Hunan. The Acting Chief Executive of Hong Kong, Mr Chan Kwok-ki, met with the Governor of Hunan Province, Mr Mao Weiming, to discuss ways to strengthen cooperation between the two places. Hong Kong and Hunan have a long history of economic and trade relations, with Hong Kong establishing 208 foreign-invested enterprises in Hunan in the past year, with a total value of imports and exports reaching about RMB56.3 billion. The two places are also strengthening their cooperation in areas such as trade, culture, tourism, and youth exchanges.

Key Takeaways:

  • Hong Kong and Hunan have maintained close economic and trade relations, with Hong Kong being a significant source of external investment and an important trading partner for Hunan.
  • In the past year, Hong Kong established 208 foreign-invested enterprises in Hunan, with a total value of imports and exports reaching about RMB56.3 billion.
  • Many Hong Kong enterprises have investment projects in Hunan, and under the "one country, two systems" principle, Hong Kong is leveraging its strengths as a "super connector" and "super value-adder" to assist Hunan in expanding into international markets.
  • Hong Kong and Hunan are strengthening exchanges and co-operation in the field of low-altitude economy, with Hunan being the first province in the country to pilot the opening of an entire low-altitude area.
  • With the commissioning of Express Rail Link service between Hong Kong and Changsha, the shortest travelling time between the two places was reduced to within three hours.

Statistics:

  • 208 foreign-invested enterprises were established in Hunan, Hong Kong, in the past year.
  • Total value of imports and exports between Hong Kong and Hunan reached about RMB56.3 billion in the past year.
  • Hong Kong has been a significant source of external investment for Hunan.
  • Express Rail Link service reduced travelling time between Hong Kong and Changsha to within three hours.

Sources:

  • Hong Kong SAR Government
  • Contify.com (Copyright 2017)

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