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 with Belt and Road Office

Denis Yip, Commissioner for Belt and Road, paid a courtesy call on Chamber CEO George Leung and Belt & Road Working Group Co-Convenors Edmond Yue and Nicholas Ho on 18 March to discuss ways to help more businesses in Hong Kong and overseas get on the BRI train. He was accompanied by Deputy Commissioner Kesson Lee and his team from the Belt and Road Office.

Yip said his office had been organizing webinars to promote trade and investment between Hong Kong and Thailand, Malaysia, and Indonesia. He added that the Belt and Road Summit 2021, planned to take place in September, will feature a new emphasis on the Greater Bay Area (GBA), RCEP, ASEAN and their connection to the BRI. He explained that the his office’s work had been geared towards promoting Hong Kong as a top-class service provider to BRI countries, and leveraging Hong Kong’s advantages in sectors such as I&T, finance, startups, medical, construction and engineering. 

Leung said the Chamber and its BRI Working Group keeps members abreast of the latest developments of the BRI, and, through its connections with overseas chambers, connects members with potential partners in emerging markets in ASEAN and beyond.

Belt and Road Working Group Meeting

Edmond Yue, Co-Convenor of the Belt and Road Working Group, hosted the group’s meeting on 2 March. He invited Liu Yajun, Head of Commercial Office, Liaison Office of the Central People's Government in the HKSAR, who spoke on the latest developments of the Belt and Road, and the initiative’s relations with the recently signed Regional Comprehensive Economic Partnership (RCEP) and the Mainland’s Dual Circulation Strategy.

Liu said countries in the RCEP region had traditionally been important markets for the Belt and Road, so the RCEP will further create and enhance synergy between members of the trade bloc and the initiative. 

Although Hong Kong is not yet a member of the RCEP, it aims to join at the first opportunity. The Mainland supports Hong Kong's inclusion in the bloc, and believes the city will play a key role in connecting the participating economies through its state-of-the-art services industries and financial infrastructure.
 

 

Global Connectivity, Opportunities and Challenges: Hong Kong and ETCZs along BRI

Nicholas Ho, Co-Convenor of the Belt and Road Working Group, spoke at PASS (Professional Services Advancement Support Scheme) Symposium, organized by the Research Centre for Sustainable Hong Kong (CSHK) of City University of Hong Kong on 7 January.  Ho shared a myriad of business opportunities, including the architecture, urban planning and construction, available along the BRI, and talked about the Chamber’s work in promoting the initiative.

Over 200 participants from around the world joined the symposium online, which featured 16 guests and speakers, sharing insights on business opportunities and challenges for Hong Kong professional services in countries along the BRI.
 

Reopening Hong Kong Travel: Rapid Testing, Travel Bubbles, and the New Norm to Tourism

Edward Yau, Secretary for Commerce and Economic Development, updated members on the Air Travel Bubble between Hong Kong and Singapore at a Chamber webinar on 4 November. He said he hoped the bilateral arrangement would be launched by the end of November. He added that the Government has been speaking to 10 other countries to establish similar Air Travel Bubbles, and among these, negotiations with Thailand and Japan are at a more advanced stage. He also reassured members that there will be safety measures and mechanisms in place to ensure that the arrangement is safe.

Danny Yeung, CEO and Co-founder of Prenetics, introduced his company’s latest rapid Covid-19 test and explained their work to help reopen Hong Kong by making low-cost, on-the-spot testing readily available at various airports. He said the new test, which takes 15-30 minutes, had already been deployed at London Heathrow Airport. Once implemented at Hong Kong’s airport, it should be able to perform 12,000 tests per day.

Also speaking at the webinar, Arnaud Bernaert, Head of Shaping the Future of Health and Healthcare of the World Economic Forum (WEF), told members about the efforts by the WEF, collaborating with the Commons Project and Prenetics, to help economies overcome the pandemic. The digital CommonPass could facilitate the return to normality by certifying people as safe to travel, although he said that harmonizing regulations and implementing such a scheme could take time.
 

Good Reads

Serving the Hong Kong Community

It is important to help the underprivileged at this time of severe economic stress and to work to build a better Hong Kong for all

BRI Opportunities for Financial Services

Hong Kong’s financial services sector can play a key role in the post-pandemic recovery in Belt and Road economies

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

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