The Hong Kong work committee of the Global Digital Economy Collaboration Alliance holds an establishment ceremony at this year's Beijing Hong Kong Economic Cooperation Symposium. BEIJING BUREAU OF ECONOMY AND INFORMATION TECHNOLOGY

At this year's Beijing Hong Kong Economic Cooperation Symposium, the technology-themed session brought together representatives from governments, universities, science and technology parks, and enterprises from both regions.

They engaged in in-depth discussions focused on the global expansion of tech enterprises and the future of Beijing-Hong Kong sci-tech innovation collaboration.

The session featured various activities including signing cooperation agreements, special promotional events, keynote speeches, roundtable dialogues, and the eighth "Beijing-Hong Kong Youth Innovation Cup" Entrepreneurship Competition Finals.

Li Zhilei, a senior official from the Beijing Science and Technology Commission and Zhongguancun Science Park Administrative Commission, announced the renewal of a memorandum of understanding with the Hong Kong Trade Development Council to deepen sci-tech innovation cooperation between Beijing and Hong Kong.

This renewal strengthens and expands the exchange mechanisms in the sector, Li said.

Additionally, the inauguration of a Zhongguancun overseas service station for artificial intelligence in Hong Kong and Macao was announced. It "will provide comprehensive resources and service support for the global expansion of large model enterprises", he added.

A highlight of this session was the Beijing-Hong Kong Youth Innovation and Entrepreneurship Cup, which serves as a core platform for fostering innovation cooperation among young people from the two regions.

The competition has enhanced exchanges and interactions among outstanding sci-tech innovation projects from Beijing, Hong Kong, and beyond, offering a broad stage to showcase innovative achievements and stimulating the innovative vitality of young people from both sides.

This year's symposium also emphasized promoting international cooperation in the digital economy between the two regions.

Liu Weiliang, deputy director of the Beijing Bureau of Economy and Information Technology, noted that the city has a solid foundation for digital economy development, with the added value of the digital economy contributing over 45 percent of its GDP in 2024.

Moreover, the city's core AI industry reached nearly 350 billion yuan ($49.2 billion) in 2024, with 162 registered large models, and the Beijing International Data Exchange has provided abundant data and scenario support for enterprises.

Beijing has implemented regulations to promote the digital economy and established technical committees for data and AI standardization, laying a solid legal and regulatory foundation for compliant cooperation.

With its mature global resource network and international business environment, Hong Kong serves as a springboard for mainland enterprises entering the global market and a gateway for international resources to access the Chinese mainland, Liu said.

Leveraging its expertise in digital policy alignment and adaptation to international rules, Hong Kong can help enterprises better integrate into the global digital economy governance system, reducing compliance costs and market risks associated with global expansion.

To better integrate resources from the two regions, "we facilitated the signing of an agreement between the Beijing Go Global Hub for Digital Enterprises and Hong Kong Cyberport, which is a concrete implementation of the 'Beijing solutions plus Hong Kong platform' model," Liu said.

Beijing enterprises can utilize Hong Kong's international network to enter the global market more efficiently, especially those involved in the Belt and Road Initiative and in emerging economies.

Meanwhile, Hong Kong enterprises can access the vast Chinese mainland market through Beijing's scenario-based resources, achieving mutual benefit and win-win outcomes, he added.

The eighth "Beijing-Hong Kong Youth Innovation Cup" Entrepreneurship Competition Finals are held during the symposium. CHINA DAILY