Belt and Road Corner

Hong Kong: A Key Link in the BRI

With its unique strengths, Hong Kong is well placed to play the role of "super-connector" for the Belt and Road Initiative. Our competitive advantages include preferential access to the massive Mainland market, internationally compatible trade, commercial and legal systems, as well as our strategic location, infrastructure and talent pool.

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Hong Kong's Added Value for the Belt and Road

A Key Link in the Initiative

The Mainland’s reform and opening-up over the past four decades helped power the tremendous transformation and growth of Hong Kong’s economy. Looking ahead to the next 40 years, the Belt and Road Initiative is a new engine that will help drive our continued economic and social development.

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Chamber Belt and Road Talks

Meeting of the Belt and Road Working Group

Jonathan McKinley, Former Deputy Secretary for Home Affairs, spoke on “Tourism on the Modern Silk Road” at a meeting of the Chamber’s Belt and Road Working Group on 6 September.

He introduced his travels on the Silk Road route from China to Central Asia, including his experience of inter-city and inter-country trains, cultural exchanges with local people, and some of the tourist spots he visited. He noted that people in the Central Asia countries are well-educated and have good language skills, and are enthusiastic about Hong Kong. However, they do not have much understanding of the Belt and Road Initiative.

Andrew Wells, Convenor of the Belt and Road Working Group, added that promotion of the Belt and Road to foreign countries will be a very important factor in the success of the initiative.

Also at the meeting, Petrina Tam, Chairman of the Chamber’s China Committee, shared her thoughts on how the professional services sector in Hong Kong could capitalize on the opportunities brought by the Belt and Road Initiative, using a professional accountant as an example. Tam is also Southern China Domestic Markets Leader at PwC Hong Kong.

New Commissioner for Belt and Road

Denis Yip Shing-fai, newly appointed Commissioner for Belt and Road, visited the Chamber on 13 August where Chamber Chairman Aron Harilela, CEO Shirley Yuen and Deputy CEO Watson Chan discussed the BRI and initiatives that the Government has been doing to assist local companies to “go outside” under BRI, such as Dedicated Fund on Branding, Upgrading and Domestic Sales, and SME Export Marketing Fund. To better achieve the goal of “going out,” both sides discussed regions and sectors that Government policies could focus on in future. Both sides agreed that closer cooperation between the Government and the business sector is a good way to foster development of BRI.

Invest in the Silk Road

The China Merchants Group has overseas assets in more than 40 countries worth 720 billion RMB, including major investments in nations along the Belt and Road. At a roundtable luncheon on 28 March, Li Zhonghan, General Manager of the company’s department for overseas business and international cooperation, discussed some of these projects – including a port in Djibouti and the China-Belarus Industrial Park -- to give members an insight into the advantages and challenges of Belt and Road investment.

Belt & Road Working Group Meeting

At a meeting of the Chamber’s Belt and Road Working Group on 5 March, Paul McComb, Director General for Trade and Investment at the British Consulate General in Hong Kong, introduced the U.K.’s participation in the Belt and Road Initiative. This includes a contribution of US$50 million to the Project Preparation Special Fund of the Asian Infrastructure Investment Bank, and a programme of unconditional guaranteed bank loans provided by U.K. Export Finance. Andrew Wells, Convenor of the Working Group, and members continued the discussion informally at a networking session following the meeting.

Good Reads

Belt and Road Provides Path to New Opportunities

Strong fundamentals and experience as a bridge between cultures put Hong Kong businesses in a good position

Finding a Role on the New Silk Road

As the Belt and Road Initiative develops, opportunities are emerging for Hong Kong businesses willing to explore uncharted waters, writes Bulletin Editor Helen Sloan

Cooperation and Commitment to Empower the Young Generation

Member companies with the Chamber introduce school students to the world of business