The authorities of Hainan Province and the Hong Kong Special Administrative Region of China have signed a memorandum on promoting economic and humanitarian cooperation. The event was attended by the head of the Hong Kong administration, Li Jiachao (John Lee), and the secretary of the Hainan Party Committee, Feng Fei.
According to the agreement, cooperation between Hong Kong and Hainan will take place in five areas: in the investment and financial sector, in the field of economics and trade, in the tourism industry, in personnel exchange projects, as well as in the data flow management sector. As part of the cooperation, it is planned to use the advantages of the Hainan Free Trade Port.
The head of the Hong Kong administration, Li Jiachao, noted that Hainan constantly invests in the economy of the SAR and interacts most actively with it in the financial sector. He also thanked Hainan for its trust in Hong Kong as the preferred platform for offshore debt products denominated in yuan and the "green" financial center of Asia, as well as for its support of professional services.
