Hong Kong-Beijing Co-operation Mechanism Established

Exchanges and co-operation between Hong Kong and Beijing, particularly in the trade and economic sectors, will be enhanced with a new co-operation mechanism.

The Hong Kong Chief Executive, Mr Tung Chee Hwa, and Mr Liu Qi, Member of the Political Bureau of the Communist Party of China (CPC) Central Committee and Secretary of the Beijing Municipal CPC Committee, presided over the high-level meeting cum the First Plenary of the Hong Kong-Beijing Economic and Trade Co-operation Conference in Hong Kong on September 2 to discuss setting up the mechanism and the establishment of the co-operation conference.

The two sides agreed that the opportunities created by CEPA and the 2008 Beijing Olympic Games would benefit both places, and further boost their mutual development and prosperity.

Speaking at the opening of the conference, Mr Tung said that Beijing and Hong Kong had their own strengths to complement and help each other. “Beijing,” he said, “is the political, economic and cultural nexus of the country, and technological base of strategic importance. As an international financial, business and trade, logistics, tourism, information and professional services hub, Hong Kong possesses world-class infrastructure, robust legal institutions, good corporate governance, a pool of experienced professionals and competent marketing and sales promotion staff.”

Wide co-operation in the service sectors will, said Mr Tung, produce the best synergy of the economic strengths of both places. In the area of financial services, he encouraged Beijing enterprises to use Hong Kong as a launch pad to “go abroad” to join and compete more effectively in the global market. 

At the same time, Hong Kong’s logistics strengths are unparalleled, and with foreign trade growing fast in Beijing, there is great potential for co-operation in that industry.

He said that closer co-operation between Beijing and Hong Kong will have far-reaching impact, boosting economic growth and prosperity in the Greater Pearl River Delta Region and the Beijing-Tianjin-Heibei Region in the north. 

The two governments agreed to set up a three-tier co-operation mechanism entitled the “Hong Kong-Beijing Economic and Trade Co-operation Conference.” The first tier will be the plenary session jointly led by the executive heads of both governments; the second tier will be a working meeting jointly presided over by the Beijing Vice Mayor and the Financial Secretary of the HKSAR; the third tier will be the respective liaison offices to take charge of preparatory and daily co-ordination work.

Seven immediate areas of co-operation have been agreed: economic and trade, professional exchanges, education, culture, tourism, environmental protection and Olympics economy.


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