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Hong Kong's Strategic Push to Attract Shanghai Business at Import Expo

2024-11-05 00:52:39.220000

Chief Executive John Lee Ka-chiu is leading a delegation to the China International Import Expo in Shanghai from November 5 to November 10, 2024. This initiative aims to attract Shanghai enterprises to invest in Hong Kong, reflecting the city's ongoing efforts to bolster its economic ties with mainland China [b57dd2fe].

The delegation includes notable figures such as Financial Secretary Paul Chan Mo-po and commerce chief Algernon Yau Ying-wah. The expo is expected to attract significant participation, with 300 Hong Kong companies showcasing their offerings across two dedicated pavilions covering 1,500 square meters [b57dd2fe]. Chinese Premier Li Qiang is set to open the event, which will also feature 152 countries and 297 Fortune Global 500 companies [b57dd2fe].

This push for investment comes on the heels of the Hong Kong-Shanghai Cooperation Conference, which signed 20 pacts in April, enhancing collaboration between the two regions [b57dd2fe]. The backdrop of this expo is significant, as mainland China's economy reported a third-quarter growth of 4.6%, the slowest pace in over a year, prompting Hong Kong to seek new avenues for economic stimulation [b57dd2fe].

In a related context, Financial Secretary Paul Chan Mo-po recently visited Australia to promote trade diversification, emphasizing sectors such as biomedical technologies and green energies, while also highlighting Hong Kong's strategic position as a gateway for mainland companies [a5d3aa6e].

As Hong Kong navigates its economic landscape, the dual efforts of attracting Shanghai businesses and diversifying trade with Australia illustrate a comprehensive strategy aimed at sustainable growth and enhanced international collaboration [b57dd2fe][a5d3aa6e].

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