Hangzhou Leverages Hong Kong as a Strategic Gateway for Global Growth

The collaboration highlights a shift in capital priorities, moving from traditional real estate toward high-tech sectors. During the September 22 conference, firms from the 'New Eight Steeds of Hangzhou'—including Rokid, BIBO, and Xynova—engaged directly with major investors like Goldman Sachs and PAG. These companies are now utilizing Hong Kong’s financial infrastructure to fuel overseas production and cross-border acquisitions. BIBO, for example, aims to establish international mass production for its intelligent chassis by 2028.

Economic data reflects this strategic alignment: high-tech industries accounted for 68% of Hangzhou's utilized foreign investment in the first half of 2026. This trend marks a maturation in the partnership, described by economist Guan Qingyou as a mutual necessity where Hong Kong provides the global channel that Hangzhou’s innovation-heavy economy requires. To formalize these ties, the Hangzhou Municipal People's Government and the Hong Kong Trade Development Council have implemented a cooperation framework that has already facilitated 43 joint projects through specialized incubation and technology transfer centers. For Hangzhou, a city without coastal access, Hong Kong has effectively become its gateway to the global market.