Beijing tech firms in push to Hong Kong

Local | Cindy Wan 25 Oct 2018

Top-notch technology companies in Beijing will be encouraged to set up branches in Hong Kong, says a new memorandum signed at the Hong Kong/Beijing Cooperation Conference.

Chief Executive Carrie Lam Cheng Yuet-ngor embarked on a two-day trip to Beijing yesterday, and met Beijing mayor Chen Jining during the fourth Hong Kong/Beijing conference.

Lam said Hong Kong and Beijing are vital cities that have special status and functions. Both will play a paramount role in China's reform and modernization.

While Beijing is the capital, Hong Kong's One Country, Two Systems principle established its status as an international finance, trading and shipping hub, Lam said. Chen said he supports Hong Kong integrating into China's development and will facilitate measures that foster Hongkongers' career development in the mainland.

A memorandum was signed to mark the consensus of both governments in eight areas, including education and training of civil servants, cultural and creative industries, youth development and trading.

In terms of innovation and technology, Beijing will encourage top technology enterprises to establish a presence at the two pending research clusters at Hong Kong Science Park. The areas that will be focused on are health-care technology, and artificial intelligence and robotics technology.

The two research clusters, which are expected to open next March, will be funded by the government, who have already reserved HK$10 billion.

Both cities agreed to support Hong Kong youth to provide volunteer services for the Olympic and Paralympic Winter Games in Beijing in 2022.

The memorandum also said the municipal government would ensure all measures to help Hongkongers living in the mainland will be smoothly implemented. Beijing will send representatives to attend the Asian Financial Forum held in Hong Kong to leverage the city's advantages in the financial services industry.

There will be a new exchange of activities between both cities' higher education institutions, which will be organized by the Beijing-Hong Kong Universities Alliance during the annual Beijing-Hong Kong Economic Cooperation Symposium, the memorandum said.

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