The Hong Kong Productivity Council holds an idea exchange event for local entrepreneurs in Hangzhou on May 29. [Photo provided to ezhejiang.gov.cn]

Hong Kong's unique position and diverse resources can aid Zhejiang-based companies in their pursuit of overseas expansion, experts from the city said on Thursday.

"When discussing mainland companies’ needs for global expansion, we recognize that Hong Kong's international sci-tech innovation resources are precisely the booster they need most to go global," said Mohamed Butt, executive director of the Hong Kong Productivity Council.

Butt made the remarks at an idea exchange event the HKPC held with local entrepreneurs in Hangzhou, Zhejiang province. The event focused on leveraging Hong Kong's strengths as a "super connector" and "super value-adder", in addition to its status as an international financial, trade and transportation center, to support sci-tech innovation enterprises in expanding overseas.

Butt emphasized that Hong Kong's international advantages play a crucial role in the nation's internal and external development, fostering diversified economic growth nationwide. He also highlighted Zhejiang's robust private economy.

"Government support for innovation and abundant private capital create a favorable environment," he said. "We must persistently promote the integration of Zhejiang enterprises' digital capabilities with Hong Kong's strengths in R&D commercialization."

Zhejiang and Hong Kong enjoy strong economic ties.

The Hong Kong Chamber of Commerce in Zhejiang, for instance, has set up various specialized committees in technology, youth development, and real estate, among others, to facilitate member exchange, enhance collaboration with various sectors in Hong Kong and create broader development opportunities, said Louis Tong, its chairman.

"The chamber has about 450 members, covering sectors including finance and trade, professional services, transportation and logistics, hospitality, real estate, manufacturing, cultural and creative industries, technology, education and healthcare," said Tong, who is also deputy director of Hangzhou Hang Lung Properties Ltd.

Statistics show that by the end of 2024, Hong Kong-invested enterprises in Zhejiang had exceeded 30,000 in number, while Zhejiang has invested in over 3,000 enterprises or institutions in Hong Kong.

A statutory body established in 1967, the HKPC is a multi-disciplinary organization tasked with promoting productivity excellence through the drive of world-class technologies and innovative service offerings to enterprises.

Last month, it launched a service center for the overseas business expansion called "The Cradle", providing sci-tech companies in both mainland and Hong Kong with comprehensive "one-stop professional support," including international technical standards alignment, product localization, and intellectual property management and protection, to assist in their global market expansion.