Latest news with #ChinaGasCompany
South China Morning Post
24-04-2025
- Business
- South China Morning Post
Tech firms thrive in cross-border Hong Kong and Shenzhen innovation hub
Information Technology companies operating within an innovation hub jointly developed by Hong Kong and Shenzhen have said that their office location allowed them to gain a competitive edge through cheaper rents, subsidies for innovation and easier access to talent. Advertisement The Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, an initiative proposed by Beijing in 2017, comprises two areas separated at the border, with Hong Kong contributing 87 hectares (215 acres) and its mainland Chinese city offering 302 hectares. The zone is aimed at attracting talent, creating wealth and transforming strategic industries. 'We ultimately established our office in the Hetao [Shenzhen area] after considering various cities in Guangdong Province, due to its geographic advantages, close ties to Hong Kong, and a wealth of talent,' said Zhou Jun, vice-president of Towngas Smart Energy and also head of the technology application centre at the Hong Kong and China Gas Company. He added that Shenzhen had a large pool of young talent, and that the atmosphere for start-ups was vibrant. Advertisement He said establishing offices in Hetao offered numerous benefits. Citing his own company as an example, he explained that they received support from the Shenzhen government in the form of relatively lower office rental rates compared to market prices He also added that they received a subsidy of 10 million yuan (US$1.37 million) for research and development from the Shenzhen government.
South China Morning Post
24-04-2025
- Business
- South China Morning Post
Tech firms thrive in cross-border Hong Kong and Shenzhen innovation hub
Information Technology companies operating within an innovation hub jointly developed by Hong Kong and Shenzhen have said that their office location allowed them to gain a competitive edge through cheaper rents, subsidies for innovation and easier access to talent. Advertisement The Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, an initiative proposed by Beijing in 2017, comprises two areas separated at the border, with Hong Kong contributing 87 hectares (215 acres) and its mainland Chinese city offering 302 hectares. The zone is aimed at attracting talent, creating wealth and transforming strategic industries. 'We ultimately established our office in the Hetao [Shenzhen area] after considering various cities in Guangdong Province, due to its geographic advantages, close ties to Hong Kong, and a wealth of talent,' said Zhou Jun, vice-president of Towngas Smart Energy and also head of the technology application centre at the Hong Kong and China Gas Company. He added that Shenzhen had a large pool of young talent, and that the atmosphere for start-ups was vibrant. Advertisement He said establishing offices in Hetao offered numerous benefits. Citing his own company as an example, he explained that they received support from the Shenzhen government in the form of relatively lower office rental rates compared to market prices He also added that they received a subsidy of 10 million yuan (US$1.37 million) for research and development from the Shenzhen government.
South China Morning Post
06-04-2025
- Business
- South China Morning Post
Hong Kong gas usage remains below pre-pandemic level for sixth straight year
Gas consumption in Hong Kong stayed below the pre-pandemic level for a sixth straight year in 2024, with the supplier expecting the pattern to persist due to what economists said was a 'structural decline' in usage linked to lifestyle changes, including increased travel to mainland China. Advertisement The city's sole gas supplier, the Hong Kong and China Gas Company, better known as Towngas, also linked its forecast to the warm weather expected this year. Professor Lee Shu-kam, the head of Shue Yan University's department of economics and finance, pointed to 'a structural decline in sales' of gas in the city. 'A very important factor is the poor economy. When there are fewer tourists, shops will use less [gas],' Lee said. 'What's more important is that after the pandemic, many people have shifted to consuming more on the mainland.' For instance, those aged 60 or above can travel by rail free of charge in Shenzhen by presenting their Home Return Permits, passports or other identity documents issued by the local government, according to a website of the Constitutional and Mainland Affairs Bureau. Advertisement The waived transport fares were 'very attractive' Lee said. 'But when you are up there, you definitely need to have meals.'
