Business news

MINSK, 19 January (BelTA) – The official visit of the Belarusian government delegation to China’s special administrative region of Hong Kong is over, BelTA learned from the press service of the government.

As part of the visit on 16-18 January, First Deputy Prime Minister Vasily Matyushevsky met with Chief Executive of Hong Kong Liang Zhenying. The sides exchanged opinions on the development of cooperation in investment, finance, trade, economy, and tourism.

After the talks Belarus and Hong Kong signed an agreement on the avoidance of the income and property tax evasion. For example, in accordance with the agreement, the dividend and interest rates will make up 5%, the royalty rate – from 3% to 5%. Specialists say that it will create favorable conditions for the cooperation in finance between the Republic of Belarus and the special administrative region of Hong Kong.

Apart from that, an agreement was reached on the mutual abolition of visas. It will enter into force after the completion of the interstate procedures in Belarus and China and will help promote business and tourism contacts between the two countries.

The government delegation took part in the investment forum Belarus Calling Hong Kong featuring the cooperation in investment, finance, and tourism between Belarus and Hong Kong. In his speech Vasily Matyushevsky remarked that the investment forum helped Hong Kong businessmen learn more about Belarus. In the future they will be able to find reliable Belarusian partners.

Partaking in the investment forum were the biggest banks and financial organizations of China. These include the Industrial and Commercial Bank of China (ICBC), China Development Bank (HK), Export-Import Bank of China (HK), CICC, CITIC Capital, CITIC Bank, CTS, Hong Kong Stock Exchange, Shenzhen Stock Exchange, etc. There were over 50 organizations from China’s mainland and Hong Kong. The Belarusian side was represented by Belagroprombank, the Development Bank of the Republic of Belarus, and the investment fund Zubr Capital.