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Chengdu seeks Finance Investment From Hong Kong

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The city of Chengdu plans to draw on a thousand years of financial acumen to boost investment from Hong Kong, according to municipal officials visiting for a week long promotional visit.
Sichuan-Hong Kong-Macau Cooperation Week, which saw a number of events held this week, sought to attract investment from Hong Kong to develop Chengdu’s status as both a financial center and a cultural creativity center of western China under Chengdu’s 13th Five-Year Plan unveiled in May.
Officials and business people from both Chengdu and Hong Kong addressed the events. James Lau, Hong Kong’s Secretary for Financial Services and the Treasury, observed that Chengdu was the most important financial hub in western China.
Addressing delegates at the Building a National Finance Centre in Western China” event at the Ritz-Carlton Hong Kong on 22 August, Lau noted that of the 20 Sichuan-based companies listed in Hong Kong, 16 were from Chengdu, adding that Hong Kong banks and other businesses had identified the Sichuan provincial capital as a gateway to the western Chinese market.
Fan Ruiping, a member of the Standing Committee of the Sichuan Provincial Communist Party Committee and secretary of the Chengdu Municipal Party Committee, said Chengdu had a significant financial heritage. In 1023, he said, the city had issued banknotes made from the bark of local mulberry trees, 500 years before paper currency first circulated in Europe.
He said Chengdu would continue to support its “pillar industries,” including electronics, vehicles, energy, transport and aerospace. However, he expected rapid growth in key emerging sectors such as artificial intelligence, additive industries and predictive medicine.
Fan also added that, Chengdu had a long economic relationship with Hong Kong. “Hong Kong is the largest source of overseas capital in Chengdu,” he said. “We need the support of a strong financial centre.”
“Our goal is to meet the needs of financial sector, not to be a real estate company,” he said. “We’re a smart financial city, with cloud computing capability, a financial intelligence unit, a talent management plan in an environmentally friendly development.”
Best known for its spicy food and nearby panda conservation area, Mu Tao, Deputy Director of Publicity, CPC Chengdu Municipal Committee, said Chengdu’s rich culture reflected its 4,500 years of history.
Mu said Chengdu was already famous as a city of music and poetry as well as food. Under the Five-Year Plan, Chengdu would become China’s anime and software capital as well as the western China advertising industry capital. More than 200 museums would be developed, Mu added.
Duoyangnamu, Director of the Chengdu Municipal Tourism Administration, highlighted the Chengdu region’s attractions, such as Mount Qingcheng, Xiling Snow Mountain and the area’s Buddhist heritage.

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