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Published: 19:32, June 23, 2022 | Updated: 14:50, June 24, 2022
HKSAR, Shenzhen govts sign investment promotion deal
By Wang Zhan
Published:19:32, June 23, 2022 Updated:14:50, June 24, 2022 By Wang Zhan

Associate Director-General of Investment Promotion (Business Development) Jimmy Chiang (second left) and Deputy Director General of the Commerce Bureau of Shenzhen Municipality Jian Zheng (second right) sign the memorandum of understanding on strengthening mutual cooperation on investment promotion to enhance the long-term development of the Guangdong-Hong Kong-Macao Greater Bay Area on June 23, 2022. (PHOTO / HKSAR GOVERNMENT)

HONG KONG - The Hong Kong Special Administration government announced on Thursday the signing of a memorandum of understanding with the Shenzhen Municipal People's Government to strengthen mutual cooperation on overseas investment promotion and enhance the long-term development of the Guangdong-Hong Kong-Macao Greater Bay Area

In a statement, the HKSAR government said the two sides will collaborate under the MOU on overseas promotional work, fully capitalizing their advantages to enhance work efficiency and cement their core roles in the development of the GBA.

The deal was signed by InvestHK Associate Director-General of Investment Promotion (Business Development) Jimmy Chiang and Deputy Director General of the Commerce Bureau of Shenzhen Municipality Jian Zheng

"Hong Kong and Shenzhen have their own advantages and favorable features in the business environment,” said Stephen Phillips, InvestHK's Director-General of Investment Promotion.

“Hong Kong is a leading international financial centre hosting the largest offshore Renminbi service hub, as well as playing the role of an international asset management centre and a risk management centre.”

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He said Shenzhen has been transformed into a modern city with rapid economic growth in recent years, particularly in the financial technology area. 

“As dual engines in the GBA, both places can leverage the complementary advantages of each other through collaboration to take forward the development within the region," Phillips added.

The deal was signed by InvestHK Associate Director-General of Investment Promotion (Business Development) Jimmy Chiang and Deputy Director General of the Commerce Bureau of Shenzhen Municipality Jian Zheng during an investment forum on Thursday.

The forum, which attracted more than 100 participants, aimed at promoting the business advantages and synergies of Hong Kong and Shenzhen, particularly in the areas of financial and business and professional services. 

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It was coorganized by InvestHK, the Commerce Bureau of Shenzhen Municipality and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen (Qianhai Authority), with the support of the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People's Government in the HKSAR. 

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