Hong Kong tycoons not obliged to invest in Northern Metropolis, Eric Chan says
Chief Secretary Eric Chan heads delegation with tycoons to Guangdong cities, says trip “purely an introduction and opportunity for exchange”
Hong Kong’s No 2 official has clarified that business leaders taking part in a fact-finding trip are not obliged to commit to investing in the Northern Metropolis, although he noted the response gathered for “zoned” projects has been positive.
Chief Secretary Eric Chan Kwok-ki said on Wednesday that the trip had met its goal of helping the private sector better understand the zoned development model, as he concluded a three-day exchange to Guangdong province.
“Our trip is purely an introduction and opportunity for exchange with different major cities,” Chan said. “There is no expectation for business representatives to pledge any investments.”
City leader John Lee Ka-chiu and his delegation of around 80 people kicked off the high-profile three-day trip with an exchange in Guangzhou on Monday, during which he oversaw the signing of economic and trade deals worth more than 100 billion yuan (US$13.8 billion) by Hong Kong and Guangdong province businesses.
Chan confirmed that finance chief Paul Chan Mo-po was organising a “promotional event” in the Northern Metropolis on Friday, inviting along local, mainland Chinese and foreign companies.
The Post reported that major local and mainland companies were expected to show their support and intention to take part in the development of the megaproject during the ceremony.
