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CE begins visit to Xi'an

Chief Executive Carrie Lam left Chongqing for Xi'an today and began her visit programme in Shaanxi Province.   After arriving in Xi'an, she met Shaanxi Governor Zhao Yide and attended a lunch he hosted.   Mrs Lam said she was pleased to visit Shaanxi for the first time as Chief Executive and congratulated Shaanxi on the successful hosting of the 14th National Games.   She expressed hope that Shaanxi would share its valuable experience, enabling the governments of the Hong Kong Special Administrative Region, Guangdong Province and the Macau SAR to do a good job in hosting the 15th National Games in 2025.   Noting that Shaanxi is a key link for the nation's Belt & Road Initiative with its rich cultural history, the Chief Executive said the two places can build on the close trade and economic ties to enhance collaboration to contribute to the initiative and promote arts and cultural exchanges between China and the rest of the world.   She added that the Hong Kong

HK, Mexico pact to take effect

The Investment Promotion & Protection Agreement (IPPA) between Hong Kong and Mexico will enter into force on June 16.   The agreement with Mexico will enhance investors’ confidence, expand investment flows between Hong Kong and Mexico, and further strengthen bilateral economic and trade ties.   Secretary for Commerce & Economic Development Edward Yau said the 14th Five-Year Plan supports Hong Kong to foster co-operation and exchanges with countries and regions around the world.   He noted that the Hong Kong Special Administrative Region Government has been making full use of the city's advantages under the Basic Law and “one country, two systems”, and has signed bilateral agreements, including IPPAs, with foreign economies to explore more opportunities for developing bilateral and multilateral co-operation benefits.   Mr Yau added that the agreement with Mexico is the fourth such agreement that the Hong Kong SAR Government has signed this term.   The other three were signed with the Association of Southeast Asian Nations, Australia and the United Arab Emirates, all of which have entered into force.   Taking into account the agreement with Mexico, the total number of IPPAs in force between Hong Kong and foreign economies will increase to 22, covering 31 foreign economies.   Under the agreement with Mexico, the two sides undertake to provide investors of the other side with fair, equitable and non-discriminatory treatment of investments, compensation in the event of expropriation of investments, and the right to free transfers abroad of investments and returns.   The agreement also provides for settlement of investment disputes under internationally accepted rules, including arbitration.
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