Chongqing, Hong Kong to strengthen economic ties at WCIFIT

Hong Kong will make its debut as the guest city at the seventh Western China International Fair for Investment and Trade (WCIFIT), scheduled for May 22 in Liangjiang New Area, Chongqing.

A 600-square-meter Hong Kong pavilion will showcase the region's role as an efficient and high-quality trade platform for Chinese mainland companies seeking international expansion. The pavilion will also display the achievements of Chongqing-Hong Kong collaborations across various sectors.

Chongqing and Hong Kong will co-host economic and trade activities, including the "Chongqing-Hong Kong Modern Service Industry Cooperation" event and a visit from the Hong Kong Financial Delegation.

The "Chongqing-Hong Kong Cooperation Conference Mechanism", established in 2023, outlines a framework for practical cooperation across 11 fields and 47 areas, leading to significant achievements in trade and investment, finance, technology, logistics, cultural tourism, and legal services.

In trade and investment, Hong Kong has become Chongqing's largest source of foreign investment and its second-largest trade partner. In April, Chongqing established its first joint venture law firm with Hong Kong.

The two regions are also developing the Mingyue Lake International Intelligent Industry Innovation Base, and it has become routine for Chongqing enterprises to issue bonds in Hong Kong and for Hong Kong capital to invest in Chongqing financial institutions.