Zhejiang delegation seeks trade
A trade delegation from Zhejiang province is in Hong Kong until Thursday seeking investment and business partners for 62 projects worth a total of HK$21.8 billion.
Gong Zheng, a vice-governor of the province, said the main purpose of the visit was to deepen economic co-operation with Hong Kong, especially in the service industries.
'Zhejiang's economy has relied heavily on exports. Half of our export products come from privately run enterprises which were hit hard during the financial tsunami,' said Gong.
He said more than 100 private entrepreneurs had joined the trade delegation to meet counterparts in Hong Kong and learn how to improve their competitive strength in the international market.
'It's a great opportunity for them to learn how to manage brands, conduct product innovation and develop overseas sales networks,' he added.
There are about 67,000 privately run enterprises in Zhejiang. Several influential businesses from the province have listed in Hong Kong - online trader Alibaba.com, property developer Greentown China Holdings, Intime Department Store (group) and Geely Automobile Holdings.
Meanwhile, more than 17,000 Hong Kong companies have invested in Zhejiang, which makes the city the largest outside investor in the province.
Trade volume between the two regions reached US$2.9 billion in the first nine months of last year.
