In the first three quarters of 2017, Hong Kong businesspeople signed deals to invest a total of nearly $2.2 billion in 53 companies in Shaanxi.

Hong Kong is also a springboard for Shaanxi companies to enter the global market, an official with the provincial government said.

From January to September, Shaanxi invested $341 million in Hong Kong, accounting for 63.62 percent of the province's overseas investment.

Shangguan Jiqing, mayor of Xi'an, capital of Shaanxi province, said: "For Xi'an, Hong Kong is an indispensable investor."

By the end of September, Xi'an had approved the establishment of 3,505 new companies since January, involving $53.22 billion in total investment value, $25.56 billion of which came from foreign investors, Shangguan said.

Of them, Hong Kong set up 1,382 companies worth $23.39 billion in Xi'an, ranking No 1 among the 74 countries and regions investing in the city.

The investment projects focus on manufacturing, real estate, business services, catering and electric gas.

Due to its personnel and capital advantages, Hong Kong is an important hub for the international service industry, which contributes 95 percent of local GDP.

"Xi'an hopes to cooperate with Hong Kong in culture, tourism, finance and logistics in the future," Shangguan said.

The city will build a business-friendly environment to ensure efficient cooperation with Hong Kong entrepreneurs, the mayor said.

Ye Dayi, president of Hong Kong Lianzhou Group, was one of the first Hong Kong locals to invest in Shaanxi.

Ye recalled that he came to Xi'an in 1985 looking for trade in equipment. He and his partner, who ran a local print shop, opened the first fast food restaurant in Xi'an in 1992.

Later, Ye ran a real estate company, villa, international school and software business.

He said that in the past, it was difficult to attract Hong Kong residents to invest in Shaanxi, but the situation has changed now.

"Under the framework of the Belt and Road Initiative, Hong Kong companies have more opportunities to launch projects in Shaanxi.

"More than 100 colleges and institutions providing scientific research personnel, the convenient traffic network and sound infrastructure will make Xi'an a hot spot for investment," Ye said.

The city will grow rapidly in next five years, as more Hong Kong companies have realized that, Ye added.

In addition to being president of his company, Ye also serves as a member of the Shaanxi Provincial Committee of the Chinese People's Political Consultative Conference and honorary vice-president of the Shaanxi Overseas Investment Union.

He has organized trips for Hong Kong students to go to Xi'an to study and travel every year since 2014, enabling them to learn more about the Chinese mainland.

Ye established the Hong Kong Shaanxi Youth Association in April with the aim of enhancing communication between schools in the two regions.

Twelve schools in Xi'an and Hong Kong have built friendly ties with the support of the Shaanxi United Front Work Department, the Shaanxi Overseas Investment Union, the Education Bureau of Hong Kong and the Liaison Office of the Central People's Government in Hong Kong Special Administrative Region.

caoyingying@chinadaily.com.cn

(HK Edition 11/14/2017 page2)