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Yang Xiong Meets President of Shanghai-Hong Kong Economic Development Association

    Yang Xiong, mayor of Shanghai, met with Yao Cho-fai, president of Shanghai-Hong Kong Economic Development Association, and his party on July 13.

    Yang Xiong briefed his Hong Kong guests on Shanghai’s economic and social development, saying that the cooperation between the two cities has a long history and yielded abundant fruits. Over the last 30 years since its founding, Shanghai-Hong Kong Economic Development Association has played an important role in promoting the exchange between the two cities. At present, Shanghai, with the expansion of the China (Shanghai) Pilot Free Trade Zone as an opportunity, is deepening reform and expanding opening up and, through vigorously implementing the innovation-driven development strategy, building at a faster pace the scientific & technological innovation center with a global reach. All this has created a new platform and opportunity for deepening the exchange and cooperation between Shanghai and Hong Kong. In the wake of the financial opening and innovation at the China (Shanghai) Pilot Free Trade Zone, Shanghai and Hong Kong can further strengthen cooperation centering on the internationalization of the renminbi and gain a new competitive edge in the international financial market. Faced with the common challenges by new industrial sectors and new business modes brought about by massive business ventures and innovations, Shanghai and Hong Kong should conform to the trend of scientific & technological and industrial transformation and continue to expand the scope and mode of cooperation. He looked forward to Shanghai-Hong Kong Economic Development Association making new contributions to Shanghai-Hong Kong exchange and cooperation and to the common prosperity of the two cities.

    Yao Cho-fai said that this year marks the 30th anniversary of Shanghai-Hong Kong Economic Development Association. The association and Lingnan University in Hong Kong have jointly set up Shanghai-Hong Kong Economic Policy Research Center, which will focus its research on subjects such as the China (Shanghai) Pilot Free Trade Zone and the internationalization of the renminbi. The association will also promote Shanghai-Hong Kong cooperation through holding Shanghai-Hong Kong metropolitan development forum and other events.