Hong Kong tycoon Victor Fung briefed Chinese President Xi Jinping on supply chain centre vision for city ahead of third plenum
- Source says tycoon Victor Fung among nine business chiefs and experts who met Chinese President Xi Jinping to share suggestions ahead of key Communist Party meeting
- Fung outlined how Hong Kong could develop into supply chain centre for medium-sized, export-focused firms from mainland and overseas multinationals
The chairman of Hong Kong supply chain management conglomerate Fung Group was among nine business and expert representatives who offered suggestions to Xi at a meeting in Jinan during a visit to the eastern province of Shandong last Thursday.
A source said Fung explained global changes in the sector and how Hong Kong could develop into a supply chain centre for medium-sized, export-focused businesses from the mainland and overseas multinationals.
The representatives’ suggestions, including proposals over Hong Kong being better integrated into the country’s development and urban-rural plans, could be included on the agenda of a key Communist Party meeting in July, the third plenum, according to a report from state news agency Xinhua.
During the meeting, Xi stressed the importance of “pursing an approach that is both goal- and problem-oriented to solve problems” and “focusing on deep-seated institutional obstacles and structural issues” in efforts to address the country’s economic problems.
The comments were seen as the most pro-business message delivered so far by Xi ahead of the third plenum, when the country’s leaders are expected to map out new reform agendas and set the course for future growth.
The insider said Fung’s suggestions were based on a key research focus of Hong Kong University of Science and Technology and the Li & Fung Supply Chain Research Institute, the latter of which was launched on Friday.