Beijing-HK economic ties get boost at symposium

The 17th Beijing-Hong Kong Economic Cooperation Symposium was held on Wednesday and Thursday in Beijing. Investment from Hong Kong reached $3.1 billion in the first nine months, accounting for 40.7 percent of Beijing’s utilized overseas direct investment. [Photo / China Daily]

Working together will yield prosperity for both cities: Officials

Beijing-Hong Kong ties will be strengthened this year with a pledge by planners from both cities to boost their common prosperity.

"A closer relationship between Beijing and Hong Kong is part of Beijing's strategic plan to accelerate economic development," said Beijing Mayor Wang Anshun at the 17th Beijing-Hong Kong Economic Cooperation Symposium held on Wednesday and Thursday in Beijing.

In order to work smoothly with the Hong Kong Special Administrative Region, Beijing will simplify its project approval process, cutting wait times by more than half, from 300 to 109 working days, Wang said at the symposium's opening ceremonies.

And with air pollution being a top issue in Beijing amid a newly issued five-year action plan, Wang said that the city will give major support to environmental protection, bringing in advanced technologies from Hong Kong in such sectors as pollution control and wastewater/sewage treatment.

Over the past decade, progress has been made in terms of economic cooperation between Beijing and Hong Kong, the mayor noted.

Investment from Hong Kong reached $3.1 billion in the first nine months of 2013, accounting for 40.7 percent of Beijing's utilized overseas direct investment.

By September, Hong Kong investors had established 12,468 companies in Beijing, with actual investment of $27.83 billion, official data said.

HK urges co-op with Beijing on private capital