The 28th Beijing-Hong Kong Economic Cooperation Symposium opened in Hong Kong on Wednesday, highlighting closer economic ties between the two cities as they seek to deepen collaboration in global markets.
Under the theme "Beijing Hong Kong Strategic Partnership for Global Connectivity," the event saw the signing of 29 cooperation projects across 11 sectors including technology services, business services, finance, and culture and tourism.
The total potential value of the agreements reached nearly 56 billion yuan (about 7.8 billion U.S. dollars).
During the first nine months of this year, two-way trade between Beijing and Hong Kong reached 129.99 billion yuan (around 18.3 billion U.S. dollars), up 81.4 percent from a year earlier, official data showed.
Beijing-Hong Kong economic forum opens as ties between cities strengthen
Fuel price hikes due to the U.S.-Israel-Iran conflict are placing significant cost pressures on livelihood industries in the Philippines and New Zealand, which are heavily dependent on imported energy, while also driving the growth of the new energy vehicle market.
In various gas stations across Manila, the Philippine capital, diesel prices have surged more than twice the levels seen at the end of February, with increases also noted in liquefied petroleum gas (LPG) prices.
Businesses such as restaurants and vendors relying on LPG have expressed concerns over escalating costs, fearing they may soon be unable to cover their expenses.
"The cost of our goods has gone up. Our income has decreased as a result. The money we earn is barely enough to cover restocking, let alone pay our employees' wages," said Rey, a food vendor.
In Auckland, New Zealand, a senior executive at a local car dealership said the surge in fuel prices is prompting more consumers in the country to shift from conventional cars to new energy vehicles.
"(Fuel price hike) really has increased the sale of our electric vehicles, particularly battery electric vehicles. Consumers are now experiencing battery electric vehicles. They see their economic advantage. It's good for the market. It's also good for New Zealand in terms of sustainability," said Simon Rutherford, CEO of Auto Distributors New Zealand, a division of Armstrong Motor Group.
Fuel price hikes squeeze livelihoods in energy-importing Philippines, New Zealand
