Seminar on Enhancing the Momentum of Hong Kong’s Development and Participation in the Belt and Road Initiative Concluded Successfully
8 September 2022 — As the Belt and Road initiative continues to make progress, how Hong Kong can act as a participant, contributor and beneficiary of the initiative has become an important consideration for the business sector. In view of this, the Hong Kong Trade Development Council (HKTDC), Belt & Road General Chamber of Commerce, Chinese General Chamber of Commerce, Chinese Manufacturers’ Association of Hong Kong, Hong Kong General Chamber of Commerce, Federation of Hong Kong Industries, Hong Kong Chinese Enterprises Association and Hong Kong Chinese Importers’ & Exporters’ Association jointly organised a seminar entitled ‘Enhancing the Momentum of Hong Kong’s Development and Participation in the Belt and Road Initiative’ on 8 September, attended by a wide range of officials and over 100 business representatives.
Mr John KC Lee, Chief Executive of the Hong Kong SAR, and Mr Luo Huining, Director of the Liaison Office of the Central People’s Government in HKSAR (LOCPG), attended the seminar and delivered speeches. The seminar was also attended by Mr Yin Zonghua, Deputy Director of LOCPG, and Mr Algernon Yau, Secretary for Commerce and Economic Development of the HKSAR. Dr Peter K N Lam, HKTDC Chairman, delivered an opening speech.
HKSAR Chief Executive John KC Lee said, ‘I would like to encourage friends in the business sector to continue to work hard to strengthen the momentum of Hong Kong’s development and to move forward in the construction of the Belt and Road initiative, so as to live up to President Xi’s and Vice Premier Han’s words. Hong Kong is an active participant, a contributor and a beneficiary of the Belt and Road initiative. The HKSAR Government has proactively been promoting this Initiative, and has actively set up business and professional services exchange and matching platforms, business exchange meetings, matching meetings, business seminars, and organised overseas trade and professional delegations to promote the participation of Hong Kong enterprises and professional services sectors in the construction of the Belt and Road.’
He stressed that Hong Kong’s unique advantage of ‘one country, two systems’ allows Hong Kong to serve as a bridge between the Chinese mainland and the rest of the world and act as a key gateway to connect with all parties. Hong Kong can capitalise on its position as a gateway to the rest of the world and seize the opportunity of the 14th Five-Year Plan of Mainland China to strengthen its development momentum through its Dual Circulation strategy.
LOCPG Director Luo Huining said, ‘The next five years will be critical for Hong Kong to break new ground and achieve new heights. Hong Kong’s business and professional sectors gather business talents from all over the world and are known to have a keen business acumen. We believe that these sectors will take the Initiative to grasp the direction of Hong Kong’s development, consolidate our status as a hub for international finance, shipping and trade, build an international centre for innovative technology, and continuously enhance the competitiveness of Hong Kong’s economy. We shall also take the initiative to integrate into the country’s overall development, dovetail closely with the 14th Five-Year Plan, fully participate in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and cultivate new growth momentum through integration and development. We shall take the initiative to follow global economic trends, promote economic globalisation, and participate actively in building the Belt and Road to achieve win-win development.’
He pointed out that since 1 July this year, the relevant departments of the Central Government and local governments have realised the spirit of President Jinping’s important speech and launched a number of new important policies to support the development of Hong Kong. For example, the People’s Bank of China (PBOC) and Hong Kong have started cooperation on the ‘Swap Connect’ and established a standing currency swap arrangement; the China Securities Regulatory Commission (CSRC) has announced the expansion of eligible stocks of the Shanghai-Shenzhen-Hong Kong Stock Connect and support for the launch of an RMB stock exchange counter and government bond futures in Hong Kong; the Ministry of Commerce (MOFCOM) has announced the further opening up to Hong Kong through CEPA and support for Hong Kong’s early accession to RCEP, and the State-owned Assets Supervision and Administration Commission of the State Council will promote more eligible central enterprises to list and issue bonds in Hong Kong, and so on. These measures will bring significant benefits to Hong Kong and further assist Hong Kong’s development.
In his opening speech, HKTDC Chairman Peter K N Lam said the 7th Belt and Road Summit was held successfully recently. Mr Han Zheng, Vice Premier of the State Council of the People’s Republic of China, attended by video and delivered a speech. Guided by President Xi Jinping’s important speech on 1 July, he emphasised the Central Government’s full support for Hong Kong’s active participation in and contribution to the construction of the Belt and Road initiative, pointing out the direction for Hong Kong’s next steps of work.
He said: ‘This seminar on ‘Enhancing the Momentum of Hong Kong’s Development and Participation in the Belt and Road Initiative’, jointly organised by the HKTDC and the seven major chambers of commerce in Hong Kong today, is of great significance to bring together ideas to enhance the momentum of Hong Kong’s development, promote the construction of the Belt and Road initiative and consolidate Hong Kong’s status as an international hub.’
He pointed out that Hong Kong can work on the following areas: 1) the business sector should work together to fully exploit its strength and contribute to the future development of Hong Kong; 2) better consolidate Hong Kong’s status as an international hub; 3) make use of the resources and advantages of HKTDC to promote Hong Kong’s image globally; and 4) use the Guangdong-Hong Kong-Macao Greater Bay Area as an important support for the development of Belt and Road initiative by working with Chinese mainland provinces and cities to lean on the Greater Bay Area and better connect with the Belt and Road market.
Representatives from the Hong Kong business community were invited to share their insights on seven key issues, including (1) Belt and Road development; (2) the strengthening of Hong Kong’s position as a hub of international finance, shipping and trading; (3) the development of innovative technology; (4) the development of the Greater Bay Area; (5) the development of the Northern Metropolis; (6) industrial diversification; and (7) re-industrialisation. Representatives sharing their insights include the following:
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Non-Executive Chairman, HSBC Mr Peter Wong Tung-shun |
The Belt and Road initiative has achieved remarkable results, expanding from the initial focus on infrastructure to cover different innovative areas. HSBC is also supporting innovative projects in green energy, health care and digitalisation in countries along the Belt and Road.
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Vice Chairman and Chief Executive, BOCHK Mr Sun Yu |
The Group fully supports Hong Kong’s commitment to the development of a financial centre, including promoting innovation in cross-border RMB business, optimising RMB asset management and liquidity management, providing more diverse hedging tools and instruments, providing liquidity to the offshore RMB market, and promoting the development of the RMB market in the Southeast Asia region. |
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Deputy Managing Director, Jardine Matheson Holdings Limited Mr Y.K. Pang |
The Group has seized new opportunities to expand into the Southeast Asian markets, including Indonesia, Vietnam, Singapore, Malaysia, Myanmar, Cambodia, Thailand and the Philippines, operating in the real estate, hospitality, food and beverage, retail, automobile, finance, mining, agriculture and engineering businesses in these regions.
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Executive Vice President, China Merchants Group Mr Deng Renjie |
The Group will focus on high-quality development and actively develop multi-faceted cooperation with the industry to ‘go global’. Firstly, the Group will continue to improve their configuration of ports; secondly, it will continue to optimise its logistics network, focusing on the construction of regional supply chains and localised service capacity in Southeast Asia and Africa; thirdly, the Group will deepen the construction of high-quality overseas parks, such as the China-Belarus Industrial Park in Belarus. |
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Non-Executive Director of Swire Properties Limited and Cathay Pacific Chairman Mr Patrick Healy |
A good airline network can help people communicate with each other well. The company will work with the Hong Kong International Airport and other government departments in the Greater Bay Area to establish an appropriate legislative framework and related production and logistics infrastructure in the coming years to ensure a continuous supply of aviation fuel to the airports in the Bay Area. |
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Group Managing Director, Kerry Logistics Network Limited Mr Ma Wing Kai William |
In recent years, Kerry Logistics has been actively expanding its international logistics network, providing logistics services for major international projects and participating in the Belt and Road demonstration project. As a next step, the Group will continue to provide supporting engineering logistics services to Chinese international engineering contractors in their overseas projects. |
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Vice General Manager of China Resources Group Mr Wang Chuncheng |
The Group will continue to expand cooperation with universities and research institutes in Hong Kong to develop achievements in areas such as life and health, smart energy, elderly technology, precision manufacturing, advanced semiconductors and new materials, and explore the formation of a joint innovation incubation mechanism with the characteristics of China Resources Group. |
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Vice President for Sequoia Capital Executive Director for Hong Kong X Foundation and HK-X Tech Start up Platform Ms YING Chen |
President Xi has proposed to attract entrepreneurs with aspirations to realise their ambition in Hong Kong. Talent is the most crucial aspect. The Hong Kong X technological entrepreneurship platform will make greater contributions to the innovative technology industry in Hong Kong by 1) upgrading the mode of nurturing innovative technology talents, 2) empowering innovative technology talents through multiple channels, 3) accelerating the transformation of research and development results and 4) providing more assistance to Hong Kong’s innovative technology talent. |
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Ex-Secretary for Justice of Hong Kong and Chairman of Professional Committee on Professional Services, Belt & Road General Chamber of Commerce Mr Rimsky Yuen |
The Hong Kong International Arbitration Centre has been recognised internationally for its capabilities. It can provide professional and diversified arbitration services for any disputes arising from Belt and Road projects. |
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Head of Capital Markets, Sino Biopharm Kyler Lei |
In the process of participating in the Belt and Road development, Sino Biopharmaceutical Limited has always insisted on the principles of ‘bringing in’ and ‘going out’ to empower the development of the Belt and Road Initiative with pharmaceutical innovation, including setting up international business platforms in countries along the route to bring China’s outstanding pharmaceutical technology out. |
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CEO, Luen Thai International Group Dr Henry Tan |
The Group will actively participate in the promotion of re-industrialisation and work with the industry to establish a research and technology centre for the textile and apparel industry, incorporating high-tech elements into raw materials such as yarns and fabrics to help enhance Hong Kong’s development momentum and participate in the development of the Belt and Road project. |
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Group Managing Director, HKT Group Ms Susanna Hui
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The Group will help develop Hong Kong’s digital economy and participate in the Belt and Road project, including studying the ways to connect One Belt and Road countries through electronic payment platforms and establishing a unique ecosystem with the Hong Kong Science Park and related mainland science parks to provide new infrastructure for Hong Kong’s Northern Metropolis and Belt and Road countries. |
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CEO, Kum Shing Group Mr Wong Sui Han Rex
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The company has successfully partnered with Thailand’s Metropolitan Electricity Authority through the Belt and Road Summit. Looking ahead, the company will continue to leverage its expertise in energy infrastructure and actively collaborate with Chinese mainland enterprises to explore the opportunities of Belt and Road. |
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The Hong Kong Trade Development Council (HKTDC), Belt & Road General Chamber of Commerce, Chinese General Chamber of Commerce, Chinese Manufacturers’ Association of Hong Kong, Hong Kong General Chamber of Commerce, Federation of Hong Kong Industries, Hong Kong Chinese Enterprises Association and Hong Kong Chinese Importers’ & Exporters’ Association jointly organised a seminar entitled ‘Enhancing the Momentum of Hong Kong’s Development and Participation in the Belt and Road Initiative’ on 8 September, inviting a wide range of officials and business leaders to exchange ideas for the future development of Hong Kong |
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Mr John KC Lee, Chief Executive of the Hong Kong SAR |
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Mr Luo Huining, Director of the Liaison Office of the Central People’s Government in HKSAR (LOCPG) |
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Dr Peter K N Lam, Chairman of the Hong Kong Trade Development Council |
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Representatives from the Hong Kong business community were invited to share their insights on seven key issues |
Media enquiries
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About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly SMEs, in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn