Hong Kong accounts for large part of capital's ODI

HKSAR enjoying record $3.55 billion in investment from 142 mainland companies

Beijing's direct investment in Hong Kong during the first nine months of this year reached $3.55 billion, up 135.57 percent year-on-year. The investments spanned 142 companies, and accounted for almost 51 percent of the capital's total outbound direct investment, official figures show.

Funding was mostly in leasing, business services, wholesale and retail, scientific research and technological services, according to the organizing committee of the 2015 Beijing-Hong Kong Economic Cooperation Symposium, which was held in Hong Kong on Friday.

"The year will see record-breaking overseas investments by Beijing," said Zhou Weimin, head of the Beijing Investment Promotion Bureau.

The projects signed between Beijing and Hong Kong during the symposium were expected to account for 40 percent of the total overseas investment projects.

Beijing's overseas investment is expected to see two-digit growth and further expand in the following two years, said the bureau.

Wu Ziheng, mainland director of the Hong Kong Trade Development Council, said Hong Kong businessmen have been actively seeking cooperation opportunities in Beijing and attracting Beijing enterprises to Hong Kong at the same time.

As investments between Beijing and Hong Kong grow, sectors like science, technology, Internet, information, culture, education, finance, tourism and healthcare will offer great potential for growth, he said.

Hong Kong's investment in Beijing, which has become more diversified over the past few years, has helped many Beijing enterprises grow. Beijing-Hong Kong bilateral investment will help more enterprises from both cities further develop overseas, said Wu.

More than 500 enterprises and organizations from Hong Kong attended the symposium. Over 300 investment projects were expected to be inked.

Investment in high-end sectors was one of the high priorities of the symposium. Technology innovation, high-tech enterprises, advanced manufacturing, services related to luxury lifestyle and value-added cultural products were in focus, said Zhou.

In 2014, Beijing's direct investment in Hong Kong reached $2.451 billion, or 45 percent of the city's total overseas direct investment. Since last year, outbound investment in Hong Kong has risen steadily, according to the Beijing Investment Promotion Bureau.

On the other hand, Hong Kong has also set up 606 new companies in Beijing with an investment of $9.52 billion in the first nine months of this year, an increase of 97.9 percent year-on-year, accounting for 77 percent of the city's overall overseas investment, said the bureau. As of the end of September, Hong Kong, which ranks first among all overseas investors, had 13,946 enterprises in Beijing, with actual investment totaling $43.27 billion, accounting for 43.3 percent of the city's total overseas investment, it said.

zhengxin@chinadaily.com.cn

(China Daily 11/28/2015 page7)