Key Fujian delegation embarks on landmark visit to Hong Kong

An important delegation of officials from Fujian led by Yu Weiguo, Party secretary of the province, began a landmark four-day visit to Hong Kong and Macao on Oct 7 with the theme of "New Era, New Journey and New Development".

"The visit's aim was to further promote Fujian and strengthen the deep bond between the regions," said Yu.

Additionally, he expressed his desire that with the help of Hong Kong as a unique open platform to connect with the world, the two regions could achieve mutual benefits on a deeper, wider and higher level of cooperation and exchanges.

On Oct 8, the delegation visited the Hong Kong Science Park - the biggest innovation and technology base camp for research and development, testing, fund-raising and commercialization in the Special Administrative Region.

Hong Kong's Secretary for Innovation and Technology, Nicholas Yang Wei-hsiung, presented the science, technological and innovation achievements the SAR had made in recent years.

The Hong Kong government has strongly supported the development of technological innovation, investing some $9.96 billion (HK$78 billion) in the field, of which HK$10 billion ($1.27 billion) was used to establish two world-class technological innovation platforms focusing on medical technology and artificial intelligence.

The delegation next visited Sense-Time, a new Hong Kong artificial intelligence company which is now the world's most valuable AI startup with a valuation of more than $4.5 billion.

The group is renowned for its advanced face and image recognition technology that can be applied to smart cities throughout China. According to SenseTime CEO Zhang Wen, the technology has already been widely adopted by several sectors including public transportation and finance as well as the entertainment industry.

In addition, Zhang introduced cutting-edge autonomous driving technology developed through cooperation with Japan's Honda Motor. Their system can be applied to AI vehicles and the application scenarios will be tested firstly in Shanghai.

Afterwards, the delegation visited The Smart City Innovation Center - the first 5G innovation lab in Hong Kong spearheaded by Hong Kong Science and Technology Parks and Hong Kong Applied Science and Technology Research Institute.

Ever since China began its reform and opening-up policy in 1978, Fujian and Hong Kong have maintained a positive cooperative relationship.

Over the past 40 years, the province has employed $84.9 billion in capital from Hong Kong and Macao, comprising two-thirds of its total overseas investment.

To date, around 80 Fujian companies have been listed on the Hong Kong Stock Exchange, raising more than HK$100 billion.

"Hong Kong is the largest source of overseas investment to Fujian and quite a large number of Fujian companies have taken advantage of Hong Kong as an international financial hub to go abroad," said Carrie Lam Cheng Yuet-ngor, chief executive of Hong Kong, making remarks during the 11th inauguration of council members of the Hong Kong Federation of Fujian Associations on Oct 7.

Yu said during the inauguration that new council members would continue increasing cooperation between Fujian and Hong Kong in terms of trade, business and culture. Paving the way ahead for that is the new Guangzhou-Shenzhen-Hong Kong Express Rail Link, which went into operation on Sep 23.

The new link takes about five hours to go from West Kowloon to Fuzhou, and only four hours to Xiamen, and officials said that as a result the economic, business and cultural exchanges between Hong Kong and Fujian would be substantially enhanced.

In recent years, Fujian has been approved as a pilot free trade zone and as a core region of the 21st Century Maritime Silk Road, creating great opportunities for Fujian, Hong Kong and Macao.

Officials added that during the visit the delegation would sign a batch of important economic and cultural cooperation projects, which would put greater efforts into building a "new" Fujian.

pamelalin@chinadailyhk.com

(China Daily 10/09/2018 page12)