Chongqing - As a key event of the 6th Western China International Fair for Investment and Trade (WCIFIT), the Chongqing-Hong Kong Innovation Cooperation event, themed "Innovation Everywhere, Cooperation for a Win-Win Future," was held on May 23.

The event focused on "hardcore" innovations in intelligent manufacturing, biomedicine, and AI, as well as "multidimensional" innovations in management, marketing, and business models. It facilitated exchanges between entrepreneurs and platform leaders from Chongqing and Hong Kong.

"We believe that technology is the main driver of innovation," said Jacky Chung, Director of Chinese Mainland of the Hong Kong Trade Development Council (HKTDC). "However, innovation can also occur in business models, management concepts, design creativity, and service processes. Innovation can happen across various fields, roles, and among different partners."

Jacky Chung, Director of Chinese Mainland of the Hong Kong Trade Development Council (HKTDC), accepted Bridging News's interview on May 23. (Photo/ Kenny Dong)

At the event, Sunny Chai, Chairman of Hong Kong Science & Technology Parks Corporation (HKSTP), introduced the HKSTP, the largest innovation ecosystem in Hong Kong. The HKSTP seeks greater collaboration in academia, industry, and research. "We hope Chongqing's technology professionals will invest in Hong Kong and partner with our universities and research institutions," said Chai.

Chai added, "Our Science Park celebrates its 21st anniversary, with over 1,700 science and technology companies established to date."

The event is organized by the HKTDC and the Friendship Association of Hong Kong Entrepreneurs in Chongqing, with support from the Chongqing Municipal Commission of Commerce.

Sunny Chai, Chairman of Hong Kong Science & Technology Parks Corporation, delivered a speech at the event. (Photo/ HKDTC)

Last May, John Lee, chief executive of the Hong Kong Special Administrative Region (HKSAR), met with Yuan Jiajun, Secretary of the CPC Chongqing Municipal Committee. They established a Hong Kong/Chongqing cooperation mechanism to promote comprehensive cooperation on 47 items across 11 areas.

Additionally, Hong Kong business delegations visited Chongqing in October and July last year. These visits helped Hong Kong business people gain a deeper understanding of Chongqing's business environment and industrial characteristics while promoting practical cooperation with Chongqing enterprises.

After their negotiations, the Chongqing International Logistics Hub Park successfully opened the Chongqing-Shenzhen Railway Premium Express Line. Chongqing goods can now reach Shenzhen Yantian Port by rail and then be exported to Hong Kong. This new logistics route facilitates the export of Chongqing's new energy vehicles and other products via rail-sea transport.

Hong Kong is Chongqing's largest source of foreign investment, the top destination for outbound investment, and the third-largest trading partner. 

Statistics show that in 2023, the Chongqing-Hong Kong trade totaled 55.48 billion yuan. Hong Kong has over 3,500 investment enterprises in Chongqing, with contracts worth $72.1 billion. Chongqing's investment in Hong Kong exceeds $3 billion, 12% of its total outbound direct investment.