A sophisticated transportation network in Tai'an helps to attract investors. Provided to China daily

The 2010 (Hong Kong) Tai'an Key Industries Seminar and Economy and Trade Fair will be held today at JW Marriott Hotel Hong Kong to promote greater collaboration between the two sides.

A total of 23 projects are expected to be signed at the fair, with a total investment of $583 million, according to Tai'an Mayor Li Hongfeng.

"We have forged close ties with Hong Kong in the sectors of trade and tourism for years," said the mayor.

Famous for its rich historical heritage and recreational health resources, the city is now a popular tourist destination.

Mountain Taishan, located in the city, is regarded as a symbol of the Chinese national spirit and is among the world natural and cultural heritage sites as compiled by the United Nations Educational, Scientific and Cultural Organization.

"We hope this fair will help Hong Kong business people learn more about Tai'an and its investment opportunities, and enhance exchanges and cooperation between the two sides."

Currently, more than 70 Hong Kong-invested facilities have been established in Tai'an and some 50,000 Hong Kong tourists visit the city annually. "This indicates sound prospects for a future partnership, across a broad range of sectors, between the two parties."

Mayor Li said cooperation will be strengthened across a wider range of sectors including high and new technology industries, high-end services and trade.

Tai'an has eight provincial level development zones, including the High-tech Industrial Development Zone, the Tourism Economic Development Zone and the Xintai High-tech Industrial Development Zone.

Among them, Tai'an High-tech Industrial Development Zone with a total area of 50 sq km has attracted many world-renowned businesses to invest in over 530 projects.

In addition to serving as a key producer of high-quality grain, vegetable, nuts and fruit, livestock, nursery stock, flowers and mulberry, the city also has a sound industrial system involving automobile, coal, power transmission equipment, new materials and new energy.

Currently, the city is enjoying rapid development. Last year the city achieved a total production value of 171.57 billion yuan, a 13.6 percent year-on-year increase, and reaped local government revenue of 9.14 billion yuan, up by 19.7 percent. In the first quarter of this year total production value increased by 15.4 percent and local revenue increased by 25.3 percent.

(China Daily 05/10/2010 page12)