One region is known as the Jiangnan Water Town, another is reputed as the Pearl of the Orient, and still another is acclaimed as the Garden on the Sea. The same veins and the same ideas have created a concentric circle for the development of Jiangsu, Hong Kong and Macao. Over the years, Jiangsu, Hong Kong and Macao have deepened their economic and trade cooperation to create a new chapter of mutual benefit and win-win progress.
At Kunshan Lei Shing Hong Finance Leasing Co., a group of Caterpillar excavators are waiting to be delivered. Through the lease of equipment and the provision of supporting financing services, Lei Shing Hong Machinery, a sole dealer in East China for Caterpillar, the world's leading manufacturer of construction machinery and diesel engines, has served tens of thousands of local SMEs. As the largest financial leasing company in Jiangsu, Lei Shing Hong Financing posted more than 3 billion yuan in its revenue growth last year.
Over the years, Jiangsu has attracted a large number of Hong Kong and Macao companies to start businesses due to its good business environment. As of the first quarter of this year, Hong Kong and Macao had established 41,109 cooperative projects in Jiangsu while the province’s use of funds from Hong Kong and Macao had added up to 189.335 billion U.S. dollars, accounting for 43.73% of the actual foreign investment in the province.
At the same time, a large number of Jiangsu-based enterprises, such as Suning.cn, XCMG Group, Envision Energy and Soho Holdings have also set up companies in Hong Kong and Macao as an important platform for Jiangsu enterprises to seek greater global presence.
As of the first quarter of this year, Jiangsu had set up 1,495 investment enterprises in Hong Kong and Macao with the amount of the contracted investment from the Chinese side totaling 20.15 billion US dollars. Hong Kong has become the largest source of overseas investment in Jiangsu and the largest destination for overseas investment by Jiangsu companies.
In order to promote better cooperation between Jiangsu and Hong Kong, the two sides established in 2014 the "Jiangsu-Hong Kong Joint Cooperation Conference" to build a platform for direct dialogue.
Dozens of companies in the crystal industry specialty town of Donghai County have participated in the exchange activities organized by the Hong Kong Trade Development Council, enabling them to sign a batch of new orders and promote the integration of local brands into the international market.
In Wujin District of Changzhou, a lakeside area of about 5 square kilometers is being planned for the construction of the Jiangsu-Macao Cooperation Park to make it an extension platform to support the integration of Macao into the overall development of the country.
The economic and trade exchanges between Jiangsu, Hong Kong and Macao have become more frequent with the areas of cooperation expanding into science and technology research and development, logistics and transportation, information consulting, and finance and securities. In the first quarter of this year, the total volume of imports and exports between Jiangsu and Hong Kong and Macao reached 8.21 billion U.S. dollars, maintaining a drastic year-on-year increase.
(Source: Jiangsu International Channel)
