One hundred projects to attract HK investment

A total of 100 projects worth more than 500 billion yuan ($73 billion) were introduced at an economic and trade promotion activity in Baotou, to attract investment from Hong Kong.

Du Xuejun, mayor of Baotou, attended the promotion activity which took place in Hong Kong on Nov 16.

The projects covered various areas including rare earth materials, equipment manufacturing, modern logistics and e-commerce, as introduced by Du.

Baotou, the largest industrial city in North China’s Inner Mongolia autonomous region, is also China’s leading supplier of rare earth resources and is a national base for the deep processing of rare earths. The city is playing an increasingly important role in the Belt and Road Initiative as it launches more international air routes and continues to strengthen ties with foreign countries, including Mongolia and Russia.

In contrast to Baotou, which relies greatly on its regional advantages and rich rare earth resources, Hong Kong is world-famous as a financial, economic and trade hub, and is home to advanced industries, logistics and scientific research.

The two cities have been cooperating for the past few years, and Hong Kong has established 30 projects in Baotou, worth some 29 billion yuan.

The alliance between the two cities will bring complementary advantages and mutual benefits to both parties, inducing further cooperation between Baotou and Hong Kong.