Trade Between HK, Mainland China Surges More Than Sixfold I...| MENAFN.COM

Sunday, 07 August 2022 09:23 GMT

Trade Between HK, Mainland China Surges More Than Sixfold In 25 Yrs


(MENAFN- IANS)

Beijing, July 1 (IANS) Trade between the Hong Kong and the Chinese mainland has surged more than sixfold in 25 years, official data showed.

From 1997 to 2021, the value of trade increased 6.1 times from $50.77 billion to $360.33 billion, an average annual hike of 8.5 per cent, Xinhua news agency quoted China's Ministry of Commerce as saying.

By the end of 2021, investment from Hong Kong into China had topped $1.4 trillion, the data showed.

Shu Jueting, a spokesperson for the Ministry, told reporters that economic and trade cooperation between the two sides has continually deepened since 1997.

While integrating itself into the country's overall development, Hong Kong has become an important participant in domestic circulation and a key contributor connecting domestic and international circulations, she said.

Over the past 25 years, the Commerce Ministry has worked with the Hong Kong government on economic and trade cooperation mechanisms, facilitated the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and supported Hong Kong's participation in the Belt and Road Initiative.

--IANS

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