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March 24, 2016

Hong Kong signs agreement on 92 areas of cooperation with Guangdong as it embraces Beijing’s 13th five-year plan

Chief Secretary Carrie Lam Cheng Yuet-ngor tells mainland officials at annual working meeting that city takes plan ‘very seriously’

NIKKI.SUN@SCMP.COM

UPDATED : Thursday, 24 March, 2016, 8:00am

Chief Secretary Carrie Lam (right) met with Guangdong officials. Photo: SCMP Pictures

The Hong Kong government is stepping up efforts to cooperate with Guangdong in almost every aspect as it embraces Beijing’s 13th five-year plan unveiled last week.

In an annual working meeting held by the Hong Kong government and Guangdong provincial authorities on Wednesday, the two sides signed an agreement covering 92 areas of cooperation, ranging from the “One Belt, One Road” initiative and innovation and technology to financial and professional services and environmental protection.

“This year is the starting year of the 13th five-year plan ... The Hong Kong government takes it very seriously,” Chief Secretary Carrie Lam Cheng Yuet-ngor told the group of Guangdong officials at the meeting including vice-governor He Zhongyou.

The three free-trade zones in Guangdong province – Qianhai, Nansha and Hengqin – are expected to play a greater role in cooperation between the southern province and Hong Kong in the coming years, the government said, in line with the dedicated chapter on Hong Kong and Macau in the nation’s 13th five-year plan expressing support for closer ties between the three regions.

To achieve deeper cooperation in the securities market, the two sides will work together to seek policy support from Beijing to relax the shareholding percentage policies on joint venture securities, fund and futures companies held by Hong Kong-funded financial institutions, the agreement said.

In addition, the government plans to fund 400 more Hong Kong students to take up internships in companies and institutions in Guangdong this year – almost double last year’s quota.

http://m.scmp.com/news/hong-kong/politics/article/1929889/hong-kong-signs-agreement-92-areas-cooperation-guangdong-it