The 9th Belt and Road Summit, which launched on September 11Â and runs for two days, has attracted close to 6,000 political and business leaders from Belt and Road countries and regions, including government officials, prominent international business leaders, over 100 delegations, and 38 central state-owned enterprises from Mainland China.
At the summit, the Hong Kong Special Administrative Region (HKSAR) Government exchanged memoranda of understanding with Maldives and Indonesia on enhancing anti-corruption cooperation. Moreover, it inked an agreement with Cambodia on promote bilateral trade and economic cooperation, and with the Solomon Islands on collaboration in aeronautical meteorological science. The summit also led to 19 memoranda of understanding on commercial collaboration.
Expansion of bilateral ties
Participants are convening at the Belt and Road Summit to explore the opportunities and potential areas of development as the initiative enters its next golden decade, with a focus on investment, business, trade, innovation and technology, and green development.
The summit, hosted annually by the HKSAR government since 2016, has become the premier Belt and Road business and investment platform for enterprises from Hong Kong, Mainland China, and overseas. Under the theme “Building a Connected, Innovative, and Green Belt and Road”, this year’s summit has expanded its scope, focusing on the eight major steps announced by President Xi Jinping last year to support high-quality development of the initiative.
The Belt and Road Summit seeks to promote cooperation between Hong Kong and Belt and Road countries in areas such as trade, investment, technology, arts, culture, and talent exchange, while also fostering cultural ties.
Hong Kong’s key role in advancing BRI
During the Belt and Road Summit’s opening session, Chief Executive John Lee highlighted that the Belt and Road Initiative has inspired countries and economies to share opportunities, foster development, and promote cultural exchanges.
Lee noted that Hong Kong has positioned itself to play a key role in realizing the visionary goals of the initiative. Under the “one country, two systems” principle, Lee added that Hong Kong uniquely enjoys both China’s advantages and global advantages.
As a “super connector” and “super value-adder”, Hong Kong provides world-class infrastructure and professional services that facilitate trade and enhance projects. He also elaborated on Hong Kong’s developments in trade, legal services, innovation and technology, green development, and fostering people-to-people bonds.
Looking ahead, Lee said that as the Belt and Road Initiative enters its next golden decade, the friendship and business collaboration among participating countries will accelerate economic growth, boost companies’ performance, and strengthen community ties.
Advancing green initiatives
This year’s Belt and Road Summit features a new green chapter with sessions discussing green development, innovation and technology. Business leaders and enterprise representatives shared insights on the application of green technology and explored how Hong Kong can contribute to sustainable development in Belt and Road countries.
For his part, Financial Secretary Paul Chan highlighted Hong Kong’s diversified financial services, which include a deep and extensive stock market and a vibrant bond market, providing an ideal platform for Belt and Road governments and companies to raise funds for infrastructure, green transition, and community projects.
As a leading green finance hub in Asia and a rising international green tech centre, Chan noted that Hong Kong offers financial and technological solutions that support economies in embracing green transition and achieving net-zero targets.
Middle East’s development under the BRI
The Belt and Road Summit continues on September 12 with a business plenary session focusing on the Middle East and emerging markets, exploring new development opportunities under the initiative. Tomorrow’s project investment sessions will focus on innovation and technology, urban development, and the Middle East and North Africa. The summit also features over 800 one-on-one business matching meetings for more than 280 projects.
For more economy news, click here.
