We attach great importance to the "Chongqing opportunity"!
Jacky Chung, Director of Chinese Mainland, the Hong Kong Trade Development Council
The "Chongqing Opportunities"
Chongqing Currents: What role do you think Hong Kong could play in the future development of Chongqing?
Chung: Chongqing is the only municipality directly under the central government in western China, and has the comparative advantages of national strategic overlap, super urban scale, industrial foundation, transportation hub, cultural ecology, entrepreneurial costs, and innovation potential. It plays a unique and important role in the national regional development and opening up pattern. As an important city in the Guangdong Hong Kong Macao Greater Bay Area, Hong Kong has always maintained close economic and trade relations with the western region, especially Chongqing. In the process of further forming a new pattern of great protection, great opening up, and high-quality development in West China Development, Hong Kong is expected to play a reference role in sustainable development fields such as green finance, zero carbon buildings, and low-carbon economy, as well as in promoting high-quality development through science and technology innovation to form new productive forces and promote Chongqing and other western regions. At the same time, we also look forward to deep cooperation with Chongqing in global supply chain management, data-driven transformation, international logistics network construction, and other fields, to jointly make significant contributions to the development of the country and region.
Mutual Learning in Urban Governance
Chongqing Currents: What experiences do you think Hong Kong has in the construction of mega city that Chongqing can learn from?
Chung: First class cities need to have first-class governance, and modern governance of mega cities needs to have modern concepts. According to the latest statistics from the Hong Kong SAR government, the total land area of 1,114.57 sq. kilometers in Hong Kong has a population of approximately 7.54 million in mid 2023, making it one of the most densely populated international metropolises in the world. The Hong Kong SAR Government released the Hong Kong Smart City Blueprint 2.0 in 2020, focusing on six areas of smart transportation, smart life, smart environment, smart citizens, smart government, and smart economy to lead the construction of smart cities, allowing the whole society to truly feel the changes brought by digital technology to life. The Hong Kong Climate Action Blueprint 2050, launched in 2021, sets the goal of achieving carbon neutrality by 2050. The Hong Kong Resource Recycling Blueprint 2035 proposes the vision of "reducing waste for all, recycling resources, and zero waste landfill", aiming to break away from relying on landfill areas to treat urban solid waste by 2035 or before. Hong Kong has many experts and research institutions with international cutting-edge thinking in related fields. The talent and resource advantages gathered by Hong Kong in urban governance can contribute to the construction of Chongqing's mega city.
Jointly Creating Business Environment
Chongqing Currents: How do you evaluate Chongqing's efforts in improving the business environment in recent years?
Chung: Chongqing attaches great importance to creating an international business environment. Since entering the new era, with the continuous deepening of Chongqing's opening up and high quality development, Chongqing has repeatedly launched important measures to optimize the business environment. Chongqing is one of the first six pilot cities for business environment innovation determined by the State Council, and also the only pilot city selected in the central and western regions. Chongqing is becoming a pioneer in the business environment in the western region. In 2024, Chongqing released the Special Action Plan for Optimizing the Business Environment in Chongqing (2024-2027), exploring the launch of a number of precise, practical, targeted, and high-value reform measures to help Chongqing's business environment "Re Upgrade". Hong Kong is one of the most open and convenient business economies in the world, making it an ideal place for local and overseas enterprises, small and medium-sized enterprises, and startups to establish bases and businesses. In 2023, there were over 9,000 Hong Kong based companies headquartered in mainland China or overseas. The Hong Kong Trade Development Council will continue to actively promote the continuous improvement of Chongqing's business environment with Chongqing, and will more actively introduce Hong Kong's experience in the business environment to Chongqing, actively promote Chongqing's business environment to be in line with international standards, and promote more international enterprises to settle and develop in Chongqing through Hong Kong.
Collaborate for High Quality Development
Chongqing Currents: How would you summarise the prospects of economic and trade exchanges between Hong Kong and Chongqing.
Chung: Chongqing is at the forefront of China's connection to the world. In 2023, Hong Kong and Chongqing established a new cooperation mechanism, reaching a consensus on the joint contribution of Chongqing and Hong Kong to the high-quality development of the country and promoting all-round cooperation. Technological innovation can give birth to new industries, new models, and new driving forces, which are the core elements for developing new quality productive forces. Hong Kong has the advantage of relying on the motherland and connecting with the world, and can assist the mainland in connecting with global talents, global capital, and global markets to support the high quality development of the country. Hong Kong is building a "Science and Technology Innovation Center", and Chongqing and Hong Kong will have many good cooperation in innovation and technology, and the two places will definitely become partners in science and technology innovation. Technology is the main driving force of innovation, but innovation is not only in the field of technology, but also to create an innovation ecosystem. In addition to technology, innovation can be carried out in business models, management concepts, design creativity, service processes, and other aspects. "Innovation is everywhere, and everyone can innovate". Everyone and every field can make contributions through innovation. We are willing to work with Chongqing to promote the development of new productive forces with an innovative spirit, participate in the future construction and development of Chongqing, and contribute to the construction of the Chengdu Chongqing Economic Circle and the Western Development.
Hong Kong is the largest source and destination of overseas investment in Chongqing, and also the third largest trading partner of Chongqing. In May 2023, Chongqing and Hong Kong officially established the Chongqing Hong Kong Cooperation Conference Mechanism. Since the implementation of the "Chongqing Hong Kong Cooperation Conference Mechanism" one year ago, Chongqing and Hong Kong have promoted comprehensive cooperation in 11 fields and 47 contents. In 2023, the total import and export volume between Chongqing and Hong Kong reached 55.48 billion CNY. Among them, Hong Kong has established more than 3,500 investment companies in Chongqing, with a contract amount of 72.1 billion USD. Chongqing's cumulative investment in Hong Kong exceeds 3 billion USD, accounting for 12% of Chongqing's total outward direct investment.
ABOUT HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub.
The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels.