Longgang seeks $2b investment

Shenzhen's Longgang district aims to attract HK$2 billion in investment from Hong Kong through 52 projects.

The projects, unveiled at an investment and trade fair yesterday, involve high-technology production, infrastructure construction and processing industries for exports.

The party secretary for the district, Liu Zhigeng, said Longgang wanted investment in its high-technology sector which produces electronic components and agricultural products.

At present, high-technology businesses account for a tiny fraction of the district's industrial growth.

Last year, exports by the district's processing industries were worth US$3.37 billion, 96.29 per cent of the total.

The value of goods exported by the district reached US$1.8 billion in the first half of this year, a rise of about 3 per cent over the same period last year.