Zhang Guosheng, deputy director-general, Department of Service Trade and Commerce Services, Ministry of Commerce the People’s Republic of China, delivers a keynote speech at the Mainland-Hong Kong Trade Services Symposium: Chinese Services for the Global Market in Belt and Road Summit 2023 at Hong Kong Convention and Exhibition Centre in Wan Chai, Sep 13, 2023. (ANDY CHONG / CHINA DAILY)
Hong Kong, with its developed service industry and robust global links, could play an active role in helping the Chinese mainland further open up its service trade and promoting Chinese services in the global market, officials and experts said on Wednesday.
They made the remarks at the Mainland-Hong Kong Trade Services Symposium: Chinese Services for the Global Market, which is part of the eighth Belt and Road Summit being held in Hong Kong on Wednesday and Thursday.
In 2021, the total value of service trade between Hong Kong and the mainland reached HK$300 billion ($38.34 billion), representing growth of approximately 15 percent compared to the previous year
Hong Kong has consistently been the mainland’s largest service trade partner for many years, and has much experience in areas such as law, finance, accounting, marketing and brand development, Zhang Guosheng, deputy director-general of the Department of Service Trade and Commerce Services at the Ministry of Commerce, said.
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The mainland should make the most of Hong Kong’s advanced experience in the field to further open up its service trade industry, with the aim of steadily advancing institutional opening and propelling the liberalization of service trade to new heights, he said.
He expressed the hope that the mainland and Hong Kong could work together to promote high-quality development in service trade, providing excellent Chinese services to the global market.
The service industry is a crucial driving force behind Hong Kong’s economy, contributing to over 90 percent of its GDP, Bernard Chan Pak-li, undersecretary for commerce and economic development of the Hong Kong Special Administrative Region, said.
In 2021, the total value of service trade between Hong Kong and the mainland reached HK$300 billion ($38.34 billion), representing growth of approximately 15 percent compared to the previous year. Chan expressed his commitment to continue striving for the sustained development of Hong Kong’s service industry.
Patrick Lau, deputy executive director of the Hong Kong Trade Development Council, highlighted Hong Kong’s role as a catalyst for economic progress and the city’s strategic strengths that can contribute to enhancing openness, expanding trade and investment opportunities, and establishing stronger connections with the international business community.
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Noting the significant increase in productive exchanges between the mainland and Hong Kong since the reopening of borders early this year, he said these exchanges have “positively impacted economic development and created mutually beneficial opportunities”.
“HKTDC, as a strategic facilitator of trade and investment, remains committed to supporting and fostering such collaborations. With 13 offices strategically located on the mainland, HKTDC actively collaborates with provincial and municipal governments to promote high-quality economic development and create a favorable environment for trade and investment,” Lau added.
He also emphasized the importance of seizing opportunities presented by digitalization, green transformation, and new technologies and business models in the current global economic landscape.
Contact the writer at zhoujianxin@chinadailyhk.com
