Chongqing, HK sign trade cooperation memo

A memorandum on trade and investment cooperation between Chongqing, a leading metropolis in western China, and Hong Kong was signed Thursday in Chongqing.

The memorandum embodies the principle of being mutually complementary in superiority, mutual benefit, cooperation and win-win result.

Under the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and Chongqing, the two cities will build an information-sharing system, create a good business environment, accelerate bilateral investment and hold more trade events.

The aim of the memorandum is to build a channel for bilateral exchanges and attain the win-win goal through better understanding between the two sides.

Hong Kong has become an important trade partner of Chongqing. By the end of 2003, 1,601 Hong Kong-funded enterprises have been built in Chongqing, bringing in 2.8 billion US dollars.