Hong Kong Business News

The Hong Kong Special Administrative Region Government, the National Development & Reform Commission (NDRC) and relevant central ministries today held the seventh Joint Conference on Advancing Hong Kong's Full Participation in & Contribution to the Belt & Road Initiative in Beijing.

NDRC Vice Chairman Zhao Chenxin attended the conference with Mainland officials led by him, while Secretary for Justice Paul Lam led Hong Kong SAR Government officials to take part in the forum in his capacity as the chairman of the Working Group on Belt & Road Development under the Steering Group on Integration into National Development.

Secretary for Commerce & Economic Development Algernon Yau, who is the conference’s Hong Kong-side convenor, also attended.

Mr Lam said that as the Belt & Road Initiative (B&RI) has entered its next golden decade, President Xi Jinping announced at the third Belt & Road Forum for International Cooperation in Beijing in October last year the eight major steps the country will take to support the joint pursuit of high-quality Belt and Road (B&R) development, which Hong Kong's advantages are closely aligned with.

Guided by the eight major steps, in particular co-operation in new fields such as green development and innovation, the Steering Group on Integration into National Development chaired by the Chief Executive and its Working Group on Belt & Road Development are steering various policy bureaus and departments to proactively capitalise on Hong Kong's role as the functional platform for the B&RI, as well as to give full play to its role as a super connector and a super value-adder.

Mr Lam also pointed out that there are seven deliverables directly related to Hong Kong among the lists of deliverables announced after the forum, adding that the Hong Kong SAR Government is actively implementing the deliverables and has made good progress.

Such deliverables include increasing the quota of the Belt & Road Scholarship to 150 per year, launching the inaugural Asia+ Festival, commencing the joint production of television variety programmes with B&RI regions, and organising the first event outside the Mainland for the Green Investment & Finance Partnership.

Apart from noting that the Hong Kong SAR Government is taking forward the establishment of the Hong Kong International Legal Talents Training Academy and the Meteorological Training Centre for Belt & Road Countries, Mr Lam stated that it is also planning to hold the ninth Belt & Road Summit in September.

Furthermore, the Hong Kong SAR Government is actively carrying out the preparatory work for the establishment of the International Organization for Mediation.

At the meeting, Mr Yau highlighted the Hong Kong SAR Government's achievements in various aspects in promoting the B&RI over the past year.

The achievements include proactively expanding the city's economic and trade networks in B&R markets such as the Association of Southeast Asian Nations, the Middle East and North Africa; forging free trade and investment agreements with more trade partners in exploring B&R opportunities; and continuous enhancements to the relevant B&RI platforms in Hong Kong.

Today’s meeting focused on the 12 work proposals aimed at further promoting the B&RI that the Hong Kong SAR Government put forward for consideration by central ministries, covering B&R economic, trade and investment co-operation, legal and dispute resolution services, finance and risk management, and innovation and technology (I&T).

Meanwhile, Mainland ministries introduced their work in supporting Hong Kong's participation in and contribution to the B&RI, and provided feedback on the Hong Kong SAR Government's work proposals. 

The meeting also discussed the Hong Kong SAR Government’s work priorities under the guidance of the eight major steps in the year ahead.

Among such priorities, the Hong Kong SAR Government will continue to actively seek for Hong Kong's early accession to the Regional Comprehensive Economic Partnership, organise a number of outbound missions to B&R markets, strengthen Hong Kong's position as Asia's green finance hub and continue to participate in the development of an international I&T centre in the Guangdong-Hong Kong-Macao Greater Bay Area.

---

PREVIOUSNEXT