The Economic Cooperation Conference between Central China's Hubei Province and the Hong Kong Special Administrative Region was opened in Hong Kong May 6, the first of its size in five years with the total investment expected to reach US$1 billion.
Vice governor of Hubei Han Zhongxue announced that they had brought together 170 projects to seek for investors from Hong Kong, with a projected total investment of US$1 billion.
Some 20 projects to be promoted at the three-day conference fell into the service industry, Han said, adding that Hong Kong is renowned for rich experience and high-quality talents in this respect.
Han noted that Hubei Province has attracted a total foreign investment of US$8 billion since the reform and opening-up policies were adopted 20 years ago, with the 45.8 percent coming from Hong Kong. Moreover, of Hubei's total 9,000 foreign-funded enterprises, 60 percent are financed by Hong Kong entrepreneurs.
Han expressed the hope that the both sides of Hubei and Hong Kong would push their economic relationship into a higher level on basis of mutual benefit.
He emphasized that Hubei possesses good transport and telecommunication facilities and is bestowed with both technical advantages and rich natural resources. The province's capital Wuhan City homes the China Optics Valley, one of China's high-tech industry centers.
(People's Daily May 09, 2002)
