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Invest Hong Kong signs MOU to promote investment cooperation in Shenzhen

Invest Hong Kong (InvestHK) co-hosted a hybrid investment forum on 23 June 2022 entitled "Hong Kong - Shenzhen Investment Forum - Financial and Professional Services" and signed its first memorandum of understanding (MOU) with the Commerce Bureau of Shenzhen Municipality, pledging to continually strengthen mutual co-operation on investment promotion in order to enhance the long-term development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

The forum was co-organised 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 (LOCPG) in the Hong Kong Special Administrative Region (HKSAR). It aimed at promoting the business advantages and synergies of Hong Kong and Shenzhen, particularly in the areas of financial and business and professional services. It was held in a hybrid format with physical events in both Hong Kong and Shenzhen, attracting over 100 participants on-site.



InvestHK's Director-General of Investment Promotion, Mr Stephen Phillips; the Director General of the Commerce Bureau of Shenzhen Municipality, Ms Zhang Feimeng; and the First Deputy Director-General of the Qianhai Authority, Mr Huang Xiaopeng, delivered welcome remarks in Hong Kong and Shenzhen, followed by keynote speeches on Hong Kong and Qianhai's business environments and investment advantages by the Associate Director-General of Investment Promotion (Business Development), Dr Jimmy Chiang, and the Deputy Director-General of the Qianhai Authority, Mr Yuan Fuyong.

The MOU was signed by Dr Chiang and the Deputy Director General of the Commerce Bureau of Shenzhen Municipality, Mr Jian Zheng, and witnessed by Mr Phillips, Second-level Inspector of the Commercial Office of Economic Affairs Department of the LOCPG in HKSAR Mr Guo Jinyou, Ms Zhang and Mr Huang, after the keynote speeches. The purpose of the MOU is to implement the overseas investment promotion work under a work plan Hong Kong/Shenzhen co-operation. The two sides will collaborate on the overseas promotional work together, fully capitalising the advantages of both places to enhance work efficiency and cement their respective core roles in the GBA development.

Mr Phillips said, "Hong Kong and Shenzhen have their own advantages and favourable features in the business environment. 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. 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."

Other speakers at the forum included the International Director and Chief Executive of Greater China of Cushman & Wakefield, Mr K K Chiu; the Executive Vice President of Strategy Development and Government Affairs, GBA of Ant Group, Ms Jennifer Tan; Financial Services Leader of Ernst & Young Greater Bay Area Center of Excellence Ms Jasmine Lee; the Vice-President of Shenzhen Capital Group Co Ltd, Mr Pollitt Zhang; and Partner and Managing Director for Hong Kong of Boston Consulting Group Mr Guo Yi. They shared practical experience in financial and modern service industries of the two places.


Source: Invest Hong Kong