In this photo taken June 29, 2021, a taxi travels on a street decorated with national flags and Hong Kong Special Administrative Region flags in Tsim Sha Tsui East, Hong Kong. Official data shows that the trade between the Hong Kong Special Administrative Region and the Chinese mainland has increased more than sixfold since the region's return to the motherland 25 years ago.
From 1997 to 2021, the value of trade between the SAR and the mainland increased 6.1 times from $50.77 billion to $360.33 billion, an average annual increase of 8.5 percent, according to the Ministry of Commerce.
By the end of 2021, investment from Hong Kong had topped $1.4 trillion, according to the data.
Shu Jueting, a spokesman for the commerce ministry, said at a press conference on Thursday that economic and trade cooperation between the mainland and Hong Kong has been deepened since 1997.
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Over the past 25 years, the commerce ministry has worked with the SAR government on economic and trade cooperation mechanisms, supported Hong Kong's participation in the Belt and Road Initiative, and facilitated the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.
The liberalization of goods trade between the mainland and Hong Kong has been achieved through the signature of the Mainland and Hong Kong Closer Economic Partnership Arrangement and related agreements, and the liberalization of services trade has been basically achieved, according to Shu.
The Commerce Ministry will continue to support Hong Kong's economic development and the improvement of its residents' well-being, as well as the integration of the region into national development, according to Shu.