Beijing, HK boost investment ties

Beijing and Hong Kong-based companies on Wednesday inked 47 agreements worth up to about $7.48 billion during the opening ceremony of the 29th Beijing Hong Kong Economic Cooperation Symposium in Beijing.

The agreements span sectors including technological services, biopharmaceuticals, commercial aerospace and cultural tourism.

John Lee Ka-chiu, chief executive of the Hong Kong Special Administrative Region, said during the event: "Hong Kong aims to advance two-way financial opening with Beijing to inject robust momentum into economic transformation. We seek to deepen Beijing-Hong Kong collaboration in innovation and technology to establish an international hub for high-end talent."

He emphasized that Hong Kong's first Five-Year Plan, which took effect this year, prioritizes the integrated development of education, science, technology and talent, anticipating more model-level cooperation with Beijing during this period.

"Moreover, leveraging Hong Kong's role as both a 'super connector' and a 'super value-adder', we will empower Beijing-based enterprises in their global expansion across all fronts," he added.

Lee also highlighted Beijing's role in the international cultural sector and its cultural soft power, citing the latest cooperation between Hong Kong and the Beijing Municipal Cultural Heritage Bureau in cultural relics protection and advanced screening technologies.

Beijing Mayor Yin Yong remarked, "The 15th Five-Year Plan period (2026-30) for Beijing and Hong Kong's Five-Year Plan align on the same cycle, creating fresh historical opportunities for deepening cooperation."

He noted that Hong Kong has consistently been Beijing's largest source of overseas capital and the preferred destination for Beijing's outbound investment.

He expects both regions to focus on frontier fields such as artificial intelligence, biomedicine and embodied intelligence, supporting enterprises in going global, strengthening financial, trade and economic synergy, and advancing high-standard opening up.

Now in its 29th edition, the Beijing-Hong Kong symposium has facilitated a total of 679 signed projects worth over $130 billion.

As of August this year, Hong Kong's cumulative actual investment in Beijing has surpassed $150 billion, accounting for over 65 percent of Beijing's total utilized overseas capital.

Beijing's outbound non-financial direct investment stock in Hong Kong stood at $56.32 billion, representing 49.8 percent of Beijing's total outbound investment.

A total of 245 Beijing enterprises are listed in Hong Kong, with a combined market value exceeding 11.17 trillion yuan ($1.67 trillion), equivalent to 27.36 percent of Hong Kong's stock market value.

The Beijing-Hong Kong International Reception Hall and the Beijing-Hong Kong Professional Services Alliance were inaugurated in Chaoyang district on Tuesday, the district with the highest concentration of Hong Kong companies in the city.

Taikoo Place Beijing, Swire Properties' largest investment project on the Chinese mainland, with its phase two expansion entailing an investment of around 23 billion yuan in Chaoyang district, has seen phased completion of construction starting from late 2026.

Max Yu, director of retail (new projects) for the Chinese mainland at Swire Properties, headquartered in Hong Kong, said, "Swire has grown with Chaoyang district and Beijing from its Taikoo Li Sanlitun and INDIGO projects, and our confidence in investing in Beijing is stronger than ever."

Sino Group plans to put another 100 million yuan into technology investments over the next 12 months, on top of a freshly closed 130 million yuan-plus bet on AI developer Moonshot AI, said its chairman Daryl Ng Win-kong during the event.

He said the Hong Kong property group "has now backed more than 30 Beijing-based companies and is accelerating the 100 million yuan fund for the science and innovation sector".