As global markets navigate economic headwinds, Zhejiang and Hong Kong are doubling down on collaboration to unlock new opportunities. The recent Ningbo-Hong Kong Economic Co-operation Forum, co-hosted by the Hong Kong Trade Development Council (HKTDC), the Hong Kong SAR Government, and the Ningbo Municipal Government, brought together over 600 business and government leaders to explore synergies in finance, innovation, and supply chain resilience.
Marking the 20th anniversary of the forum, the event underscored Hong Kong’s role as a gateway for mainland enterprises seeking global expansion—and Zhejiang’s emergence as a powerhouse in digital economy and advanced manufacturing.
Strengthening Regional Collaboration
Hong Kong Chief Executive John Lee highlighted the city’s high value-added supply chain services, designed to help mainland firms establish international headquarters and navigate offshore trade. “Hong Kong’s robust trade networks, diverse talent, and world-class professional services position us to help businesses break into emerging markets,” he said.
The forum also celebrated decades of cross-border partnership. Zhou Ji, Executive Vice Director of the Hong Kong and Macao Affairs Office, noted that Hong Kong is Zhejiang’s largest foreign investor and trade-in-services partner, with over 30,000 Hong Kong-backed enterprises operating in Zhejiang by 2024.
Unlocking Opportunities in Finance and Innovation
The China Securities Regulatory Commission (CSRC) reaffirmed its support for mainland firms listing in Hong Kong. Yan Bojin, CSRC’s Chief Risk Officer, revealed that 141 companies—including 19 from Zhejiang—have filed for Hong Kong listings since 2023, boosting the Hong Kong Stock Exchange to fourth place globally in IPO rankings.
Meanwhile, Xie Shaofeng of the Ministry of Industry and Information Technology emphasized Zhejiang’s strengths in digital economy and industrial agglomeration, urging deeper ties with Hong Kong’s port and tech sectors.
A Shared Vision for the Future
Zhejiang officials positioned Hong Kong as a “super navigator” for globalization, while Ningbo Party Secretary Peng Jiaxue called Hong Kong a “vital force” in the city’s modernization. HKTDC Chairman Dr. Peter Lam added that Zhejiang enterprises—particularly from Ningbo—could leverage Hong Kong’s platform to optimize operations and accelerate global growth.
The event culminated in 12 memorandums of understanding (MOUs) between Invest Hong Kong and Zhejiang firms, spanning sectors like AI, fintech, and clean energy. A panel featuring leaders from Hong Kong Science Park, HKEX, and Airport Authority explored collaboration in finance, supply chain, and innovation.
Looking Ahead
With a new Zhejiang-Hong Kong cooperation mechanism launched during the forum, both regions aim to elevate partnerships in trade, technology, and talent mobility. As Deputy Financial Secretary Michael Wong noted, “In challenging times, unity is key. Hong Kong stands ready to help mainland enterprises reach new heights.”
For Zhejiang and Hong Kong, the forum wasn’t just a celebration of past achievements—it was a roadmap for a more interconnected future.
