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| No.4 August, 2011 |
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HK-Guangdong ties bolstered |
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 Five agreements were signed at the 14th Plenary of the Hong Kong-Guangdong Co-operation Joint Conference held on August 23 in Hong Kong, co-chaired by Chief Executive Donald Tsang and Guangdong Governor Huang Huahua.
The Plenary saw Hong Kong and Guangdong sign an agreement to launch a Lingnan Tong and Octopus two-in-one card next year. The first phase of the trial scheme to introduce ad hoc quotas for cross-boundary private cars was also agreed upon and will be launched in March 2012.
"At the joint conference, Mr Huang and I reviewed the progress of Hong Kong-Guangdong co-operation over the past year and set the directions for co-operation in the coming year. Both sides considered the progress of implementation of the 2011 work plan satisfactory," Mr Tsang said.
"Apart from promoting economic development, we have also produced outcomes which are beneficial to and can be felt by people of both sides."
Financial services upgrade
Regarding financial-services development, renminbi trade settlement conducted through Hong Kong banks reached RMB804 billion during the first half of the year, of which nearly 30% was trade settlement between Guangdong and Hong Kong.
"In terms of finance, we are now the most important syndication centre for funding, and particularly, for the renminbi trade, we are doing a genuine service for Guangdong and for the Mainland. Our total trade settlement value is likely to exceed one-trillion yuan this year, and the bulk of that is coming from Guangdong Province," Mr Tsang said.
Four banks with Hong Kong capital have set up a total of 12 sub-branches in Guangdong. As of June, more than 125 Guangdong enterprises have been listed in Hong Kong, and the Hong Kong subsidiaries of six securities companies, four fund-management companies and three futures companies of Guangdong have obtained licences to conduct regulated activities in Hong Kong.
On upgrading and transformation of the processing trade, Guangdong has reached agreement with the Central Government to implement measures to help the processing trade in Guangdong. Hong Kong will work closely with Guangdong to develop implementation details.
To facilitate travel between the two places, a Heads of Agreement was signed regarding the issuance of a Lingnan Tong and Octopus two-in-one card, to be launched in 2012. Cardholders will be able to use it to pay for retail purchases and public transport in Guangzhou, Foshan, Jiangmen, Zhaoqing, Shanwei, Huizhou and Hong Kong.
The first phase of the trial scheme to introduce ad hoc quotas for cross-boundary private cars will be launched in March. Owners of Hong Kong private cars with five seats or less can apply for ad hoc quotas under the scheme to drive their cars into Guangdong. Implementation details will be announced before the end of the year.
Green focus
With a view to controlling greenhouse gas emissions and promoting the development of a low-carbon economy in the region, both sides agreed to establish the Hong Kong-Guangdong Liaison Group on Combating Climate Change under the Hong Kong-Guangdong Co-operation Joint Conference.
The group, led jointly by Hong Kong's Environment Bureau and the Development & Reform Commission of Guangdong Province, will co-ordinate measures and activities in combating climate change, including promoting scientific research and technology development.
On the basis of the final assessment being conducted on the Pearl River Delta Regional Air Quality Management Plan, both sides will seek to complete the study on the future arrangements for emission reduction in the region by the end of this year.
As of last month, Hong Kong medical service providers have set up 10 clinics and out-patient clinics in Guangdong. The first hospital jointly established by the two sides will start operating in 2012.
The Hong Kong Hospital Authority and Shenzhen authorities launched a medical records transfer pilot project in Peking University Shenzhen Hospital and Shenzhen Nanshan People's Hospital in the first quarter. The project will be gradually extended to four other hospitals.
Both sides have decided to set up a special task group on co-operation to develop Nansha under the Framework Agreement, to promote the upgrade and transformation of Hong Kong-invested processing trades in Guangdong, to develop a demonstration zone for CEPA's implementation, and early and pilot measures, and to advance co-operation in social services.
Shenzhen is striving to provide preferential policies and lower the entry thresholds for Hong Kong service providers to establish operations in Qianhai.
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