Service industry told to boost HK ties
By Wang Yanlin |
April 2, 2011, Saturday
|
Print Edition
Print Edition
SHANGHAI and other cities in the Yangtze River Delta region should interact more closely with Hong Kong to further the development of their service industry, Sha Hailin, chairman of the Shanghai Commission of Commerce, said yesterday.
"Accelerating the growth of the modern service industry is a core issue for Shanghai and other Chinese cities in the next five years," Sha said at a forum yesterday to bolster mainland cities' cooperation with Hong Kong. "As a global financial hub with strong roots in accounting, auditing, legal services, designing, exhibition and innovation, Hong Kong has much to offer to the mainland cities," Sha said.
Hong Kong firms were granted greater and easier access to the mainland markets in tourism, securities and banking services in October under the expanded Mainland and Hong Kong Closer Economic Partnership Agreement, also known as CEPA.
Authorization requirements for Hong Kong commercial banks were eased to expand their existing network in the mainland.
Hong Kong remained the biggest source of overseas investment for Shanghai, and funds from Hong Kong were channeled into the city's services industry, Sha said.
The output of Shanghai's service industry expanded 5 percent from a year earlier to 961.8 billion yuan (US$146.3 billion) in 2010, accounting for 57 percent of the city's total GDP. The local government may reform Shanghai's taxation system to make it more friendly to the development of service industry.
"Accelerating the growth of the modern service industry is a core issue for Shanghai and other Chinese cities in the next five years," Sha said at a forum yesterday to bolster mainland cities' cooperation with Hong Kong. "As a global financial hub with strong roots in accounting, auditing, legal services, designing, exhibition and innovation, Hong Kong has much to offer to the mainland cities," Sha said.
Hong Kong firms were granted greater and easier access to the mainland markets in tourism, securities and banking services in October under the expanded Mainland and Hong Kong Closer Economic Partnership Agreement, also known as CEPA.
Authorization requirements for Hong Kong commercial banks were eased to expand their existing network in the mainland.
Hong Kong remained the biggest source of overseas investment for Shanghai, and funds from Hong Kong were channeled into the city's services industry, Sha said.
The output of Shanghai's service industry expanded 5 percent from a year earlier to 961.8 billion yuan (US$146.3 billion) in 2010, accounting for 57 percent of the city's total GDP. The local government may reform Shanghai's taxation system to make it more friendly to the development of service industry.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
