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Hebei seeks investment from HK to lift economy

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Investment and expertise from Hong Kong are welcome to help develop Hebei's economy, says governor Ji Yunshi.

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Speaking on the sidelines of a three-day investment and trade fair in Hong Kong, Mr Ji said such an association could serve as a window on the world for Hebei, which surrounds Beijing and Tianjin.

The 497-member Hebei delegation, led by Mr Ji and party secretary Bai Keming, has offered more than 1,400 projects, worth a total of US$47.9 billion, in the areas of transport infrastructure, the hi-tech sector, the transfer of stakes in state-owned enterprises, financial services and tourism.

Contracts for almost 300 projects, with a total investment of US$5.9 billion, were expected to be signed during the fair, which ends today.

Hong Kong is a main source of overseas investment in Hebei, providing about a third of all foreign capital, while Hong Kong's trade with Hebei represents a third of the province's external business.

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Mr Ji said one of Hebei's main challenges was providing a better understanding of market economics to its rural population - 53 million of Hebei's 67 million people.

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