Co-operation deals on 50 projects worth a total of $13.1 billion were signed by companies from Hong Kong and Guangzhou yesterday. The areas of co-operation include trade, tourism, science and technology, logistics, car manufacturing and information technology. The signing took place at the Guangzhou and Hong Kong: Closer Co-operation for Common Development forum attended by 1,500 businesspeople, officials and tycoons in Hong Kong. They included the Chinese People's Political Consultative Conference vice-chairman Henry Fok Ying-tung, Cheung Kong (Holdings) deputy chairman Victor Li Tzar-kuoi and Henderson Land chairman Lee Shau-kee. During the forum, Guangzhou Mayor Zhang Guangning said his city would invest more than 200 billion yuan in building sports facilities and improving related urban infrastructure to prepare for hosting the 2010 Asian Games. Guangzhou would allow more Hong Kong companies to take part in managing the sports facilities, news centre and athletes' accommodation, he said. Mr Zhang said the city was set to open up more service sectors to Hong Kong businesses and strengthen co-operation between the cities' small and medium-sized enterprises. They would include finance, logistics, trade shows and conferencing. When asked about competition between Hong Kong's airport and Guangzhou's new Baiyun airport, he said 'two brothers who inherit an estate would compete' but could also achieve a 'win-win situation'. Financial Secretary Henry Tang Ying-yen said that Hong Kong was the biggest investor in Guangzhou, adding that half of the new projects started in the Guangdong capital last year had Hong Kong funding. Those 420 projects involved an investment value of US$136 billion. He said the two cities should also co-operate more closely in developing sporting events. Secretary for Commerce, Industry and Technology John Tsang Chun-wah, meanwhile, will lead a delegation of more than 200 representatives of information technology companies and small and medium-sized enterprises on a three-day visit to Beijing and Tianjin on Sunday.