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Hkshandong 'Brotherly Ties' 14 | Thursday, December 6, 2018 HONG KONG EDITION | CHINA DAILY BUSINESS HK­Shandong ‘brotherly ties’ drive cooperation Shandong, SAR to forge stronger bonds in developing pillar industries The SAR could be a By SUN FEIER in Hong Kong ing Shandong’s Ten Pillar Indus­ fundraising and [email protected] tries with International Capital” in financing destination Hong Kong on Wednesday. Shandong province — the land of Hong Kong, as one of the freest, for Shandong­based Confucian entrepreneurs — is most competitive and energetic cit­ companies.” expanding its links with Hong Kong ies in the world, excels at financial to help spread its “integrity and services, trade, as well as shipping Matthew Cheung Kin-chung, credibility” to the world market. transportation, Liu noted. chief secretary for administra­ The friendship between Shand­ The cooperation between Shand­ tion of the HKSAR Government ong and Hong Kong was described ong and the SAR in various fields, by Liu Jiayi, secretary of the CPC including business, technology, Shandong Provincial Committee finance, youth exchange, culture fundraising and financing destina­ and chairman of the Shandong Pro­ and tourism, is seen as the future tion for Shandong­based compa­ vincial People’s Congress Standing direction of bilateral collaboration. nies. Committee, as a “brotherly relation­ In 1993, Tsingtao Beer — a Hong Kong, he said, is also quali­ ship that’s rooted in the same ances­ Shandong­based maker of one of fied to become the headquarters of tors and origins”. the Chinese mainland’s most international business, corporate Shandong people began settling sought after beers — completed its treasury centers and risk manage­ down in Hong Kong dating back to initial public offering in the Hong ment support for Shandong­enter­ the inception of Hong Kong port, Kong stock market, heralding a prises eyeing global markets. and their population in the city cur­ new era for Chinese companies “The 10 pillar industries initiated rently stands at around 400,000, seeking to go public outside the by the Shandong government, Liu Jiayi (second right), secretary of the CPC Shandong Provincial Committee, shakes hands with Vin­ while there are now more than mainland. including five emerging industries cent Lo Hong­shui, chairman of the Hong Kong Trade Development Council, at the “Seminar on Devel­ 2,600 Hong Kong people living in Official data showed that 51 and five advantaged industries, are oping Shandong’s Ten Pillar Industries with International Capital” in Admiralty on Wednesday. PARKER Shandong permanently. Shandong enterprises have floated in line with Hong Kong’s future ZHENG / CHINA DAILY “This year marks the 40th year of in Hong Kong so far. development,” Cheung told the China’s reform and opening­up, Chief Secretary for Administra­ forum. modern ocean economy, medical, tourism and modern financial ser­ jects were signed on Wednesday and it gives us a great opportunity tion Matthew Cheung Kin­chung The 10 pillar industries cover the elderly and healthcare industry, vices. with total investments amounting to hold the 10th Shandong­Hong said Hong Kong aims to take the new generation of information high­end medical industry, modern To further link up the private sec­ to $31.25 billion, while the value of Kong Investment Promotion Week,” cooperation with Shandong to a technology, high­end equipment, and high­efficiency agriculture, cul­ tors from Shandong and Hong projects involving overseas capital Liu told the “Seminar on Develop­ new height, and the SAR could be a new energy and new materials, ture and creative industry, quality Kong, contracts involving 36 pro­ reached $15.6 billion. What’s news Shanghai unveils PBOC skips open market operations From Russia with love plans for biological The People’s Bank of China, the nation’s central bank, skipped open market operations for the 29th con­ medicine industry secutive trading day on Wednesday, the longest stretch since early 2016, citing sufficient liquidity in the By ZHOU WENTING in Shanghai banking system. No reverse repos [email protected] will mature on Wednesday. A $44 reverse repo is a process by which Shanghai plans to build high­ billion the central bank purchases securi­ end manufacturing parks for bio­ Shanghai’s total economic ties from commercial banks logical medicine by 2020 to output of biomedical medi­ cine last year through bidding, with an agree­ complement and develop interac­ ment to sell them back in the tively with Pudong New Area’s future. Zhangjiang, known as China’s were selected for the industrial pharma valley, according to a base and they will be coordinated Refinery building three­year action plan. at the city level to cooperate with The parks are planned so far in Zhangjiang and maintain high­ starts in Jieyang the municipality’s districts of Jin­ end and green development, Cao The construction of a 20 million shan and Fengxian, as well as Lin­ said. metric tons/year refinery in south­ gang area in Pudong based on the Liu Xinyu, director of the sci­ ern China by China National Petro­ existing industrial parks. They will ence and technology commission leum Corp, the nation’s largest oil focus on medical devices, beauty of Jinshan district, said that there and gas producer by domestic annu­ and biopharmaceuticals respec­ are so far 40 enterprises engaged al output, and Venezuela’s PDVSA tively, said Cao Hongming, direct­ in biological medicine in the dis­ launched on Wednesday in Jieyang, or of the biological medicine trict, 14 of which have an annual Guangdong province, with a total division of Shanghai Municipal production value of more than 100 investment of 65.4 billion yuan ($9.5 Science and Technology Commis­ million yuan. billion). The refining and chemical sion, at a media briefing when the “In the future, some projects commissioning test run of the refin­ commission released the Action may carry out research and devel­ ing­aromatics­chemical integrated Plan to Promote the High Quality opment in Zhangjiang,” Liu said. project will take place in 2021, said Development of the Biological Wang Guowei, deputy director CNPC. Medicine Industry in Shanghai of the science and technology com­ Passengers from St. Petersburg pose for photographs after landing at Sanya Phoenix Interna­ (2018­20) on Wednesday. mission of Fengxian district, said Yuan strengthens tional Airport on Tuesday, marking the successful opening of IrAero Airlines’ first St. Peters­ Enterprises in the industry are that an industrial park covering an against greenback burg­Sanya air route. The air route is part of the Russian company’s expansion plan, in which it highly concentrated in Zhangji­ area of 1.8 square kilometers and also plans routes from Sanya to Moscow, Kemerovo and Kazan. SHA XIAOFENG / FOR CHINA DAILY ang, where some companies found specializing in biological medicine The central parity rate of the yuan it hard to acquire land several plus cosmetics was established in strengthened for a second day years ago and now find it even the district in 2015, and clusters of against the US dollar on Wednes­ harder to obtain a small space for enterprises have been formed in day to the strongest level since Sept an office, Cao said. skincare products, cosmetics, per­ 25, 2018. The yuan’s central parity the first 11 months of this year, the adjusted third quarter reading FDI up in Malaysian “Actually we’ve suffered the out­ fumes, health products and bio­ rate advanced 463 basis points to company said on Tuesday. The com­ showed Australia’s economy grew flow of some projects with good medicine. 6.8476 against the dollar, following pany has introduced several new by just 0.3 percent, the weakest manufacturing sector prospects owing to the limited “One in four facial masks made a strengthening of 492 basis points models to the market this year, quarterly expansion in two years Malaysian Finance Minister Lim land,” he said. in China is currently produced in on Tuesday, according to the China including the seventh generation of down under. Guan Eng said earlier this week that The action plan has come up Fengxian,” Wang said. Foreign Exchange Trade System. its classic J7 heavy truck. The compa­ foreign investment in the manufac­ with measures on land expansion “I believe the ‘Fengxian beauty With signs of ebbing external risks, ny sets a goal of selling 350,000 vehi­ South Korea sees turing sector remains on the rise so together with the quality and valley’ will see an obvious boost foreign exchange market senti­ cles in 2020 and 430,000 vehicles in far this year with Chinese investment capacity upgrade of Zhangjiang as when it will become an extension ment has been boosted and the 2023. The number is expected to increase in real GDP leading the way. Citing the Malaysian Shanghai aims for the continued of the Zhangjiang pharma valley,” yuan is unlikely to depreciate reach 500,000 in 2025. South Korea’s real GDP adjusted for Investment Development Authority’s development of biological medi­ he said. beyond the 7 yuan per dollar mark inflation, grew 0.6 percent in the July­ latest statistics, Lim said approved cine, one of the city’s strategic The action plan said that Shang­ within the year, China Securities Australia’s growth September quarter from the previous foreign direct investment in the man­ emerging industries, and building hai’s goal was that the industry Journal cited market insiders as quarter, central bank data showed. It ufacturing sector surged 250 percent itself into a key area for biological would reach 400 billion yuan in saying. slows in third quarter was identical with the second quarter, year­on­year to 49 billion ringgit medicine. 2020, and applications for 50 Australia’s lackluster national after expanding 1 percent in the first ($11.79 billion) in the first nine Shanghai’s total economic out­ drugs and 100 medical devices FAW Jiefang trucks accounts data for the three months quarter, according to the Bank of months.
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