Hong Kong strengthens economic ties with Zhejiang at major forum

On April 28, 2025, the Hong Kong Investment Promotion Conference, which included the Zhejiang Ningbo Forum and Ningbo-Hong Kong Economic Co-operation Forum, was held at the Shangri-La Hotel in Ningbo, China. The event was co-organized by the Hong Kong Trade Development Council, the HKSAR Government, and the Ningbo Municipal People’s Government, drawing over 600 government and business leaders from both locations. The primary goal was to foster collaboration opportunities between Zhejiang, Ningbo, and Hong Kong, highlighting Hong Kong's advantages in various sectors such as finance, supply chain, innovation and technology, and professional services. Attendees engaged in three comprehensive roundtable sessions focused on business networking, allowing Zhejiang and Ningbo enterprises to explore growth opportunities through Hong Kong's vast market access. During the opening ceremony, significant speeches were delivered by key officials, including John Lee, Chief Executive of the HKSAR, highlighting Hong Kong's role as a critical link in global trade. Additional remarks emphasized the importance of leveraging Hong Kong's platform to enhance global market presence for Zhejiang enterprises. The Deputy Financial Secretary of the HKSAR Government, Michael Wong, highlighted that since 2022, more than 80 key enterprises have established or expanded operations in Hong Kong, notably in sectors like AI, robotics, and clean energy, with many coming from Mainland China. The event also featured the signing of Memoranda of Understanding (MOUs) between Invest Hong Kong and twelve Zhejiang enterprise representatives, signifying a commitment to advance key collaboration projects between the regions. The establishment of the Zhejiang/Hong Kong cooperation mechanism during this conference marks a significant step towards enhancing comprehensive exchanges between the two regions, emphasizing new areas for trade collaboration to support high-quality development. The forum served as a significant platform for deepening collaboration between Zhejiang and Hong Kong, promoting the unique advantages of each region, and underscoring the potential for mutual economic benefit. Looking ahead, representatives from both regions expressed a strong intention to nurture this burgeoning relationship, with future discussions expected to focus on areas such as cross-border supply chain management and opportunities for innovation and technology companies. Key stakeholders acknowledged the synergistic potential of Ningbo's pragmatic approach combined with Hong Kong's expertise, which could lead to greater economic breakthroughs. The overall atmosphere suggested a high level of optimism regarding the collaborative prospects they could unlock through sustained partnership and shared goals.