FS continues visit to Hangzhou and Suzhou (18.4.2024)
18.4.2024

The Financial Secretary, Mr Paul Chan, today (April 18) continued his visit to Hangzhou and later proceeded to Suzhou. Mr Chan met with the Deputy Secretary of the Communist Party of China (CPC) Zhejiang Provincial Committee and Secretary of the CPC Hangzhou Municipal Committee, Mr Liu Jie, and exchanged views on deepening co-operation between the two places in areas such as technological innovation, financial services, building of airports, cultural exchanges and higher education, as well as jointly fostering the development of new quality productive forces to promote high-quality development. During the meeting, Mr Chan said given that Zhejiang is a province with a large number of private enterprises, and that Hangzhou enjoys robust development in industries including intelligent Internet of Things, biomedicine and new materials and new energy and has achieved remarkable results in digital economy development, there will be plenty of room for the synergistic development of innovation and technology industries between Hong Kong and Hangzhou. With the continuous high-level two-way opening-up of the Mainland, changes in the international value and supply chains and the needs of the enterprises' own development, there will be a greater need for Zhejiang enterprises to go global and develop international business. Hong Kong's highly efficient and quality financial, legal and other professional services can help them better access global capital, gather talent, align with international standards, and better manage their multinational financing and supply chain, thereby achieving greater international success. In the morning, Mr Chan also visited an innovation and technology enterprise engaging in biomedical technology in Hangzhou. The enterprise focuses on the research and development (R&D) of ribonucleic acid technology application in various cancer screenings, and has applied for listing in Hong Kong. Mr Chan said that the Hong Kong Special Administrative Region Government is actively developing the city into a health and medical innovation hub, including establishing a clinical trial facility and research platforms in the Loop, and strengthening co-operation with Mainland medical regulatory authorities. He welcomed enterprises to conduct their medical research activities and clinical trials in Hong Kong. Mr Chan proceeded to Suzhou in the afternoon and met with the Secretary of the CPC Suzhou Municipal Committee, Mr Liu Xiaotao. They exchanged views on the economy and development directions of the two cities. Mr Chan said Suzhou has a high concentration of high tech industries and a well developed manufacturing industry. There have been close and profound economic and cultural exchanges between Hong Kong and Suzhou; and there can be deeper and more comprehensive co-operation in technological innovation and the creative industries in the future. Hong Kong's financial and professional services as well as internationalised talent can assist enterprises in Suzhou in opening up a bigger international market. Thus the room for further co-operation between the two cities is enormous. Mr Chan also visited two enterprises in Suzhou, one engaging in the research and manufacturing of green optical fibre materials, and the other engaging in solar photovoltaic and green energy. He toured their production lines and exhibition, and exchanged views with their persons-in-charge. Both enterprises have a wide range of business operations in Hong Kong, as well as R&D or production bases around the world. Mr Chan encourages them to further leverage Hong Kong's strengths in various fields, including its R&D resources that are continuously being enhanced and strengthened and comprehensive and thriving financial markets, to enhance their global presence and promote further development. Mr Chan will continue his visit to Suzhou tomorrow morning (April 19) and depart for Hong Kong at around noon. Ends/Thursday, April 18, 2024 Issued at HKT 22:32 NNNN