Financial Secretary Paul Chan today met Communist Party of China (CPC) officials and visited research and development (R&D) companies in Hangzhou and Suzhou on day two of his Mainland trip.

In the morning, Mr Chan met CPC Zhejiang Provincial Committee Deputy Secretary and CPC Hangzhou Municipal Committee Secretary Liu Jie to exchange views on deepening co-operation between the two places as well as jointly fostering the development of new quality productive forces to promote high-quality development.

The areas for co-operation involve technological innovation, financial services, building of airports, cultural exchanges and higher education.

During the meeting, Mr Chan said there will be plenty of room for the synergistic development of innovation and technology industries between Hong Kong and Hangzhou, given that Zhejiang is a province with a large number of private enterprises.

There is also the fact that Hangzhou enjoys robust development in industries including intelligent Internet of Things, biomedicine and new materials and new energy and has achieved remarkable results in digital economy development, Mr Chan added.

He said Hong Kong’s highly efficient and quality financial, legal and other professional services can help Zhejiang enterprises better access global capital, gather talent, align with international standards, and better manage their multinational financing and supply chain, thereby achieving greater international success.

Mr Chan also visited a Hangzhou innovation and technology enterprise engaging in biomedical technology which focuses on the R&D of ribonucleic acid technology application in various cancer screenings, and has applied for listing in Hong Kong.

He noted that the Hong Kong Special Administrative Region Government is actively developing the city into a health and medical innovation hub, including establishing a clinical trial facility and research platforms in the Loop, and strengthening co-operation with Mainland medical regulatory authorities.

Mr Chan welcomed enterprises to conduct their medical research activities and clinical trials in Hong Kong.

The finance chief headed to Suzhou in the afternoon and held talks with CPC Suzhou Municipal Committee Secretary Liu Xiaotao on the economy and development directions of the two cities.

“There can be deeper and more comprehensive co-operation in technological innovation and the creative industries in the future. Hong Kong's financial and professional services as well as internationalised talent can assist enterprises in Suzhou in opening up a bigger international market. Thus the room for further co-operation between the two cities is enormous,” Mr Chan noted.

He toured two enterprises in Suzhou - one engaging in the research and manufacturing of green optical fibre materials, and the other in solar photovoltaic and green energy - to view their production lines and exhibition as well exchange views with their persons-in-charge.

Both enterprises have a wide range of business operations in Hong Kong as well as R&D or production bases around the world.

Mr Chan encouraged them to further leverage Hong Kong’s R&D resources that are continuously enhanced and strengthened, and the comprehensive and thriving financial markets, so as to enhance their global presence and promote further development.