The Shanghai Lingang Economic Development Group and Cyberport, a business park in Hong Kong, unveiled a plan to further strengthen their strategic cooperation ties during the ongoing 6th China International Import Expo (CIIE) on Monday.

The two parties had earlier in March signed a memorandum of understanding to become sister parks. According to the MoU, the two parties will help enterprises from both sides expand overseas and in the Chinese mainland.

The new plan unveiled on Monday at the CIIE's Technology and Equipment Exhibition Area involves both sides bolstering collaboration in multiple fields and coordinating resource advantages. One of the measures taken will be organizing regular exchanges to better understand market demands as well as scientific and tech innovation in both markets.

Officials from the Hong Kong and Macao Affairs Office of the Shanghai Municipal Government, the Lingang Special Area Management Committee, the Hong Kong Economic and Trade Office in Shanghai, the Hong Kong Trade Development Council Shanghai Representative Office, and personnel from Lingang Group, park enterprises, and Hong Kong Cyberport enterprises also attended the event.

Yuan Guohua, Party secretary and chairman of Lingang Group, said that the group has since the establishment of sister park ties been leveraging the resources of its complete industrial chain as well as Cyberport's influence in the tech industry to create a new benchmark for Shanghai-Hong Kong science and technology innovation cooperation.

The group currently operates over 20 industrial parks that are home to more than 13,000 companies. Cyberport, on the other hand, has a community of over 1,900 start-ups and tech enterprises.

Yuan added that the partnership between the two sides has special significance as this year marks the 20th anniversary of the establishment of the Shanghai-Hong Kong cooperation conference mechanism.

Representatives of companies that are part of the Cyberport community also gave presentations about their high-tech products and solutions during the event.

Among them was Aslada Gu, the director of product and innovation at Hong Kong-headquartered Gusto Collective.

"I'm thrilled to be able to share about the products my company offers on a platform as influential as the CIIE. This expo is a valuable platform for technology companies like Gusto Collective to showcase their products and businesses to the world, as well as a valuable opportunity to engage with other technology enterprises in Lingang," said Gu.

"This plan to enhance ties between Lingang Group and Cyberport is good news for tech companies," she added. "We believe that the exchange of innovation resources between the two sides will result in companies like ours being able to bring more innovative projects to the Chinese mainland and Hong Kong."