$10.4b deals signed at Kunming-HK investment conference

The 2023 Kunming-Hong Kong Investment Cooperation Promotion Conference was successfully held in Hong Kong on Friday, with 33 projects worth 71.865 billion yuan (about $10.47 billion) signed.

The conference at the Grand Hyatt in Wan Chai showcased the promising development prospects of Kunming, the capital city of Yunnan province, and highlighted the cooperation between enterprises in the city and Hong Kong.

Officials, business representatives, and experts in the investment and trade industry attended the event.

The 33 projects signed included 27 that were investment agreements. The projects covered various fields such as green food, green energy, intelligent manufacturing, trade services, and digital economy.

During the conference, Liu Hongjian, a member of the Standing Committee of the Yunnan Provincial Party Committee and Secretary of the Kunming Municipal Party Committee, thanked the guests for showing their support for Kunming’s development.

Liu said Kunming and Hong Kong share a deep friendship and close economic ties. The two cities are tourist destinations that have a history of exchanges and cooperation in finance, education, medical care, and culture.

With the steady advance of the Belt and Road Initiative and the entry into force of the RCEP trade deal, Kunming's development opportunities are immeasurable, Liu stressed.

“Our visit this time aims to allow friends in Hong Kong to know more about Kunming and to promote the deep integration of outstanding enterprises here and Kunming's potentials to achieve mutual benefit and a win-win situation.”

Peter Lam Kin-ngok, Chairman of the Hong Kong Trade Development Council, said there is significant room for cooperation between enterprises in the two places, and Kunming can make good use of Hong Kong's advantages.

Lam stressed that Hong Kong, as an international financial center and the world's largest offshore renminbi center, has diversified financing channels, and enterprises can obtain financing here at a reduced cost.

Hong Kong is also home to many premier professional service providers, which can serve as the comprehensive service platform in the Belt and Road Initiative and the powerhouse for the development of enterprises, Lam added.