Closer ties: Financial Secretary Henry Tang says both Hong Kong and Tianjin have their own advantages which complement each other.

Hong Kong has for many years been Tianjin's most important economic partner, Financial Secretary Henry Tang says, adding the trade volume between the two cities reached US$2.527 billion in 2005, up 22.4% year-on-year.

Speaking at the "2006 Tianjin Week In Hong Kong" today, Mr Tang said Hong Kong has ranked first among places that have foreign investment in Tianjin, accounting for 32.79% of the municipality's cumulative spent foreign investment volume.

He said both Hong Kong and Tianjin have their own advantages which complement each other.

He said Tianjin-Hong Kong cooperation creates a win-win situation which will accelerate the two cities' economic prosperity and development.