Belt and Street Initiative facilitates Beijing-HK cooperation

BEIJING — Cooperation and funding tasks value about 8.Eight billion U.S. {dollars} had been signed on the 24th Beijing-Hong Kong Financial Cooperation Symposium that closed Tuesday in Beijing.

The tasks below the framework of the Belt and Street Initiative (BRI) are anticipated to inject new impetus for high-quality financial growth in fields together with organic medication, synthetic intelligence and new power.

Wang Wenjie, deputy secretary-general of the Beijing municipal authorities, stated that within the face of the COVID-19 pandemic, Beijing and Hong Kong have been dedicated to working collectively to include the virus whereas striving for financial restoration.

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Within the first three quarters of 2021, Hong Kong’s direct funding in Beijing hit 10.6 billion U.S. {dollars}. In the meantime, from January to October, Beijing’s direct funding in Hong Kong chalked up 2.7 billion U.S. {dollars}, a year-on-year improve of 1.13 occasions, in accordance with information from the Beijing municipal fee of growth and reform.

Based mostly on Beijing’s 14th 5-Yr Plan (2021-2025) on the high-quality BRI growth, cooperation tasks prioritize science and expertise, commerce and funding, and repair trade.

For the reason that first Beijing-Hong Kong Financial Cooperation Symposium was held in 1997, the platform has helped clinch greater than 500 tasks within the fields of science and expertise, finance, commerce, tourism, city administration and environmental safety.

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