More extensive cooperation in the service sector should be established
between Shanghai and Hong Kong, government officials, academics and business
leaders from the two cities said on Friday in Shanghai.
Further and deeper cooperation is good for both Hong Kong, whose flourishing
service sector is hampered by space constraints, and Shanghai, which is keen to
focus its development on the sector, Wang Ronghua, vice-chairman of Shanghai
People's Political Consultative Conference, said.
He was speaking at a forum on the opportunities for cooperation between the
Wang said the two cities complemented each other in many ways and have great
potential for working together.
"Hong Kong has a long history of developing its service industry and has
accumulated abundant experience and talent in the field," Wang said.
"Shanghai is building itself into an international hub for finance and
shipping, and is also working on the economic integration of the Yangtze River
"Shanghai has a lot to learn from Hong Kong and at the same time can provide
plenty of opportunities and serve as a platform for Hong Kong to expand its
business in other mainland cities," he said
Leung Chun-ying, a member of the Executive Council of Hong Kong Special
Administrative Region, said there was also competition between the two cities
and that has to be faced.
"We have to find an effective way to avoid unhealthy competition and increase
cooperation," he said.
Cai Laixing, chairman of Shanghai Industrial Investment (Holdings) Co Ltd,
said that cooperation was the only way to help both cities bloom.
Wang said: "We should encourage more service businesses from Hong Kong to set
up in Shanghai as well as more state-owned or private enterprises in Shanghai to
list in Hong Kong and expand their business abroad in that way."
Wang said that cooperation on exhibitions, international merchandising and
finance would be particularly encouraged.