Xian, capital of Shaanxi province, intends to select some small and medium-sized high-technology companies for listing in Hong Kong's proposed Growth Enterprise Market (GEM).
'We will recommend some of our hi-tech companies to Hong Kong's financial sector in order to support their growth,' the deputy director of Xian National Hi-tech Industrial Development Zone, Jing Junhai, said.
City vice-mayor Li Dengju said Xian aimed at combining Hong Kong's capital with Xian's high technology and talents to form an economic driving force in the city, which serves as a centre of the central and western region.
Ms Li said the city had set a goal of attracting about US$1 billion to the technology field in three to five years.
She admitted there would be competition between Hong Kong and Xian in their technological development.
Foreign investors are welcome to explore the domestic markets in the regions and preferential policies such as tax exemption and reduction have been granted to hi-tech businesses.
