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Shanghai and Hong Kong should opt for further cooperation and improve their "bellwether role" in regional economic integration, businessmen and scholars stressed at the 6th Shanghai-Hong Kong Economic Development and Cooperation Conference held in town on Saturday.
With some 100 government officials, business professionals and scholars from both sides participating, the one-day conference focused on "regional economic development."
While Shanghai is an economic hub of the Yangtze River Delta, which includes the city, Zhejiang and Jiangsu provinces, Hong Kong is seen as a pillar of the Pearl River Delta that mainly covers the island city and Guangdong Province.
"Shanghai and Hong Kong are two growth engines fueling China's economy. They should sharpen their edges to promote the development of regional economic integration," Vice Mayor Jiang Yiren said.
Henry Tang, Hong Kong Secretary for Commerce, Industry and Technology, said Shanghai's scientific research, talents and solid industrial structure, as well as its role as a financial center, would greatly enhance the Yangtze River Delta's development.
Scholars pointed out that cooperation between the two regions, instead of just the two cities, can reap larger economic benefits for both sides.
"Hong Kong cannot just depend on the Pearl River Delta for its future development. We should tie up with the Yangtze River Delta, and even China's western hinterland in the long run," said Vincent Lo, chairman of the Shui On Group, a major Hong Kong property developer.
(eastday.com November 25, 2002)
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