Chongqing Hong Kong Symposium, held on September 3, 2018

By Keqiao Cheng, EDITOR

On September 3, the representative office of China (Chongqing) Pilot Free Trade Zone in Hong Kong was announced   open, leveraging the city's international status to assist Chongqing companies to "go global" and attract overseas investment to Chongqing.

The Hong Kong representative office is tasked with the mission to promote Chongqing's business environment globally, extend its overseas connections and strengthen its economic and trade cooperation with Hong Kong, Guangdong and Macao.

It will also use Hong Kong as the international platform from which to explore business opportunities overseas and assist Chongqing companies to engage in fundraising activities through listing and issuing bonds.

According to the official of the Department of Operation and Promotion of Chongqing Pilot Free Trade Zone, Hong Kong is the most important investment origin and a very relevant trade partner for Chongqing.

The establishment of the representative office aims at the full cooperation between Chongqing Free Trade Zone and the free port of Hong Kong, in terms of mechanism and administration of simple taxation system, trade liberalization, business environment, innovative technology, etc.

Signing ceremony of key projects at the Chongqing Hong Kong Symposium

The Pilot Free Trade Zone of Chongqing opened on April 1, 2017, with a range of 119.98 square kilometers. Up to now, there have been a total of 16,985 newly registered enterprises, 1,169 signed key projects, and RMB 404.65 billion of contracted investment.

In the first half of 2018, the total value of export and import of Chongqing Free Trade Zone has reached RMB 153 billion, accounting for 67% of Chongqing and meaning an increase of 11%. In terms of the actual use of foreign investment, the number has reached USD 3.4 billion, accounting for 79% of the whole municipality.

Source:

Official website of Chongqing Liangjiang New Area

http://www.liangjiang.gov.cn/Content/2018-09/03/content_455981.htm

Official website of the Government of the Hong Kong Special Administrative Region

http://www.info.gov.hk/gia/general/201809/03/P2018083100619.htm

For more news and information about China (Chongqing) Free Trade Zone, please visit FREE TRADE ZONE page of our website.