Hong Kong, Zhejiang province sign deal covering smart cities, AI and fintech
Hong Kong and mainland China's Zhejiang province, known as the country's technology stronghold, have signed a deal covering 13 key areas and 51 projects, with a focus on smart cities,
artificial intelligence (AI) and fintech, according to Chief Executive
John Lee Ka-chiu
Advertisement
The city leader also said on Thursday that both sides had set up the 'Zhejiang-Hong Kong Cooperation Conference' mechanism, designed to better harness their strengths to seize major opportunities for high-quality development and opening up, with Lee pledging support to help the province's enterprises expand overseas.
The partnership memorandum was signed when Lee attended the first plenary session of the Hong Kong-Zhejiang Cooperation Conference on the third day of his visit to provincial capital Hangzhou.
Those projects covered key cooperation areas such as co-building the
Belt and Road Initiative , trade and investment, finance and aviation, Lee said. The belt and road strategy is China's plan to grow global trade.
Meanwhile, the two sides also signed another four cooperation agreements and letters of intent covering technology innovation, housing, trade and youth development.
Hong Kong and Zhejiang officials in Hangzhou. Both sides have signed a deal covering 13 areas and 51 projects. Photo: Handout
Lee said the two local governments would focus on collaborating in areas such as smart cities, AI, fintech, biomedicine, microelectronics, new materials and new energy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
an hour ago
- South China Morning Post
Hong Kong's New World secures US$11.3 billion refinancing deal just before deadline
Hong Kong developer New World Development (NWD) has successfully refinanced HK$88.2 billion (US$11.3 billion) of debt just before the deadline, concluding months of negotiations that pulled the company back from the brink of default. The refinancing package includes multiple tranches of bank loans with varying maturities, with June 30, 2028, being the earliest, the developer said in an exchange filing on Monday. The package would 'allow the group more flexibility to better manage its expected ongoing business and financial needs', the statement said. 'The new bank facility and the aligned bank facilities have terms, including financial covenants and security interests granted over certain of the group's assets.' CEO Echo Huang Shaomei said the successful refinancing 'is a testament to the confidence' placed in the company's operations, adding that the group's financial strategy prioritises reducing debt and improving cash flow. New World CEO Echo Huang Shaomei said the successful refinancing was a testament to the confidence placed in the company's operations. Photo: SOHU While local media reported that the refinancing deal was backed by some 40 of the company's assets, including the New World Tower headquarters and Victoria Dockside complex in Tsim Sha Tsui, the company did not give any details.
South China Morning Post
an hour ago
- South China Morning Post
What is creatine? Experts on its health benefits for both body and brain
Creatine is one of the most popular supplements on the market today and is a favourite topic of Hong Kong-based functional nutritionist Beth Wright – partly because of its versatility, but also because of how overlooked it has been in female health. The naturally occurring compound is manufactured in the liver, kidneys and pancreas, and derives from three amino acids: arginine, glycine and methionine. About 95 per cent of it is found in the skeletal muscles – the ones connected to our bones – while the rest is in the brain. Animal-based foods are natural sources of creatine. While plants do not have creatine, they contain the amino acids the body needs to build creatine on its own. In supplement form, it is known as creatine monohydrate, 'one of the most rigorously studied supplements in existence', Wright says. Hong Kong-based functional nutritionist Beth Wright. Photo: Beth Wright Though long considered to be mostly for men who lift heavy weights and elite athletes in competition, the word is out that it can do so much more. Dozens of high-quality human trials have shown its benefits in boosting physical performance, and muscle and bone health.
South China Morning Post
2 hours ago
- South China Morning Post
Standard Chartered and UBS bullish on Hong Kong, China stocks on policy support, earnings
Mainland Chinese and Hong Kong stocks will rise in the second half as Beijing's policy support is expected to revive earnings growth, according to Standard Chartered and UBS Group. Advertisement Standard Chartered was overweight on allocations to Chinese equities due to the de-escalation of tariff tensions with the US following the signing of a framework agreement last week, the UK bank said in a report on the second-half outlook on Monday. The bank said it preferred Chinese offshore stocks to onshore ones because many of them were growth companies that had strong upside potential and their valuations were lower than their peers in the US and Europe. Meanwhile, UBS predicted that the premium of mainland China-listed A shares to their Hong Kong counterparts would further narrow this year as more Chinese institutional investors hunted for bargains in Hong Kong via the Stock Connect trading link. A large screen shows the latest stock exchange and economy data in Shanghai. Photo: EPA-EFE 'We see increasing buying interest in H shares by mainland-based mutual funds,' said Meng Lei, a strategist with the Swiss Bank, on Monday, referring to the Hong Kong-listed stocks. 'The price gap between A and H shares is set to narrow further.' Advertisement Standard Chartered set a 12-month target of 25,500 for the Hang Seng Index, implying roughly a 5 per cent gain from the benchmark's current level. The Hang Seng Index advanced 20 per cent in the first half of the year, closing at 24,072.28 on Monday.
