Open Governance
The Sichuan-Hong Kong Cooperation Demonstration Park is to be Erected in Sichuan Province with a Total Investment Approximating RMB 100 Billion

  On November 7th, a brief signing ceremony was launched at the 2018 Sichuan-Hong Kong Symposium of Professional Business Association held in Hong Kong. During the ceremony, the establishment of the “Super Industrial Park” of Sichuan-Hong Kong Cooperation was finalized marked by the Cooperation Agreement for the Sichuan-Hong Kong Cooperation Demonstration Parks signed by the Meishan Management Committee of Sichuan Tianfu New Area and Hong Kong Xinhua Group. The Agreement clearly stipulates that the Sichuan-Hong Kong Cooperation Demonstration Park is to build in the Meishan District of Tianfu New Area with a total investment of near RMB 100 billion.

  This park will serve as a platform for introducing Hong Kong's service industry to Sichuan Province. Its emergence is not so much the birth of a new project, but rather the beginning of close cooperation between Sichuan and Hong Kong in service industry. It also conforms to the most eager expectation of people from all walks of life in Hong Kong.

  Zooming in to the park

  Emulating the "Nansha model" of Guangdong and Hong Kong

  Apply it in Sichuan

  "The project of Hong Kong in the fields of finance, commerce, technology, education, medical care and culture will be introduced, which would help promote the service industry in Hong Kong." Mr. Cai Guanshen, President of the Hong Kong Chinese General Chamber of Commerce and Chairman of Xinhua Group, introduced the basic situation of the park: covering an area of about 8 km2, with relevant planning and design currently under way, it is expected to be officially launched next year.

  Previously, Guangzhou and Hong Kong had co-built a cooperation zone ranging 10 km2 wide in Nansha, aiming at building a development base for service industry engaged in manufacturing. "We hope to bring the 'Nansha model' of Guangdong and Hong Kong to Sichuan," said Mr. Cai Guanshen. It will fully leverage the gathering effect and the professional services of the park.

  Behind the project cooperation agreement lies the cooperation demand emerged around service industry in Sichuan and Hong Kong.

  One of the world's three largest listed capital markets, the world's largest offshore RMB transaction center... Hong Kong boasts numerous time-honored brands when it comes to service industry which accounts for 90% of its GDP. "Without the mainland market, Hong Kong will not be able to sustain its soaring service industry." Mr. Liu Bingzhang, Chairman of the Hong Kong Professional Alliance, admits that Hong Kong, as an international financial and trade center, is home to a large number of talents who can provide the industrial and commercial sector of Sichuan with services such as risk management, taxation, valuation and legal consultation.

  Mr. Liu Xin, Director of the Sichuan Provincial Department of Commerce, expressed his expectation for the cooperation between Sichuan and Hong Kong with a set of figures: last year, the service trade volume between Sichuan and Hong Kong registered 2.5 billion US dollars, representing a year-on-year increase of 100%; the largest source of foreign investment for Sichuan is now Hong Kong, with around 70% of its investment sinking in the service industry.

  “Industry upgrading will boost substantially Sichuan's demand for high-end professional services. With deepened cooperation between Sichuan and Hong Kong, the latter will facilitate the “going out” process of Sichuan’s enterprises more effectively,” said Mr. Jiang Xueli, Assistant Director of Hong Kong Investment Promotion Agency.

  Zooming in at the trend

  The cooperation between Sichuan and Hong Kong is deepening

  From the vertical and horizontal dimensions

  The Sichuan-Hong Kong Cooperation Demonstration Park is not the only carrier for our cooperation. In recent years, the number of cooperation carriers in service industry between Sichuan and Hong Kong has been roaring - From Hong Kong and Macao (Chengdu) Modern Service Industry Park to Sichuan-Hong Kong Design and Creative Industry Park.

  The speeches of the delegates have given a clear signal: the cooperation between Sichuan and Hong Kong is progressing in depth from the two dimensions.

  Horizontally speaking, our field of cooperation is on the rise. At the symposium, six major areas have been mentioned by five speakers, including circulation, finance, commerce, brand cultivation, technological innovation and cultural innovation. “Sichuan has an inclusive talent pool in developing emerging industries. In this regard, Hong Kong can provide us with professional services such as risk management and valuation,” said Mr. Luo Kangrui, Chairman of Hong Kong Trade Development Council. Mr. He Xianyi, Executive Director of the Hong Kong and International Branch of the Real Estate Chamber of Commerce of the All-China Federation of Industry and Commerce, said that Hong Kong can function as a “sponsor” to support the “going out” of Sichuan’s enterprises, and participate in projects of the “Belt and Road” construction; and members of the Chamber of Commerce show high interests in investing in Sichuan. .

  Vertical speaking, the content of our cooperation is deepening. The delegates present have mentioned that the cooperation between the two sides is transforming from simple service providence to more platform and experience introduction reliant. Mr. Gao Yingxin, President of the Chinese Enterprises Association in Hong Kong, said that Hong Kong can assist Sichuan in building a financial center under modern financial industry with its successful experiences; and that our two sides can strengthen cooperation in financial supervision, social credit system construction, and green finance.

  Mr. Cai Guanshen believes that the "Super Industrial Park" will enjoy a bright prospect. "Many Hong Kong enterprises have been longing to settle in, even though a contract has not taken shape yet."

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