Moscow Mayor Sergei Sobyanin met with representatives of the Hong Kong business community on 25 September 2018. The Hong Kong delegation visited Russia with the support of the Roscongress Foundation.
«Moscow is the most attractive site for investment. The volume of investment has grown by more than 70% in recent years, which is the highest result in Russia. The city is investing in the development of the transport system, public spaces, and the social sector. We receive three to four roubles in private investment for each rouble invested», Sobyanin said.
Ronnie Chan, the head of the delegation and chairman of one of Hong Kong’s largest developer companies, Hang Lung Properties, noted that many large projects have been implemented in Moscow in recent years, particularly in the transport sector. «My colleagues are actively engaged in the development of urban infrastructure and are interested in cooperation with Moscow», Chan said.
Issues concerning further cooperation between Moscow and Hong Kong were also discussed during the meeting, including: the involvement of Hong Kong companies in various sectors of the Moscow economy — the construction of three- to five-star hotels, commercial real estate, and the restaurant business; the localization of production by Hong Kong companies in Moscow; measures to support investors engaged in business in Moscow (special economic zones, technology parks, etc.).
The meeting was attended by the heads of 21
major Hong Kong companies, including: Far East Consortium International —
a leading regional conglomerate in construction and the hotel business; Shun Tak
Holdings — a conglomerate whose core activities include real estate,
transportation, the hotel business, and investment; Techtronic Industries Co. — the
largest manufacturer of cordless power tools and a leader in the production of
outdoor power equipment; Ronald Lu & Partners (Hong Kong) — a
leading architecture and design firm; The Sincere Co. — one of the largest
department stores in Hong Kong; Kowloon Motor Bus Co. — one of the
world’s largest bus companies; Brilliant International Group — one of China’s
largest and most advanced commercial companies in the printing industry; Yau Lee
Holdings — a major construction company; Hsin Kuang Restaurant (Holdings) — a
company that manages chain restaurants in Greater China, Canada, and the United
States.
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China is Moscow’s leading foreign trade partner.
According to the Moscow Mayor’s official portal https://www.mos.ru/, Moscow’s trade with partners from China (excluding the fuel and energy industry) grew by a third in 2017 and amounted to USD 23.1 billion. This makes up 27.5% of Russian-Chinese trade (USD 84 billion).
Moscow has 196 enterprises registered with Chinese capital in their authorized capital. Total cumulative Chinese investment in the Moscow economy exceeds USD 1 billion.
Contacts between Moscow and China, including
Hong Kong, have intensified in recent years. A number of bilateral documents
were signed in 2014, including an agreement between the Moscow Chamber of
Commerce and Industry and the Hong Kong Trade Development Council.
