Date 12 January 2012
On January 5th, 2012 Shanghai (SH) and Hong-Kong (HK) signed four comprehensive cooperation agreements including: commerce, culture, human resources and healthcare. Donald Tsang, Chief Executive and President of the HK Executive Council, said he was very pleased with the outcome of the second meeting. The first Economic and Trade Cooperation meeting was held in October 2003 in HK.
SH & HK summarized around 30 measures of cooperation related to commerce, financial services, tourism, culture and originality, cooperation and communication of professionals and more. The conference also assigned a new direction for the two cities’ future development.
Shanghai will build up an amiable investment environment for HK companies to grow in. At the same time, HK will offer more support for SH firms to explore overseas markets. By the end of 2011, HK had invested in about 19,000 projects in SH and have had 54 SH listed companies trading their shares in HK, which is an increased of more than double since 2007. In addition, the Exchange-Trade Fund (ETF), an investment fund comprised of Hong Kong stocks is under preparation to be sold in the Shanghai Stock Exchange.
Tsang said that there is a need to be flexible in unexpected situations under the current economic and political status. Most importantly, he suggested that there should be a closer exchange and a stronger cooperation between SH and HK against the unstable economy and pay close attention to the country’s development opportunities.
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