Hong Kong, a Gateway Connecting Chinese Mainland with BRI Countries
21 Jun, 2019  |  Source:CGTN  |  Hits:1936

"With unique geographical advantage, Hong Kong serves as an important gateway connecting the Chinese mainland with Belt and Road countries," said Lam Cheng Yuet-ngor, chief executive of the Hong Kong Special Administrative Region (SAR).

Hong Kong could play the role of super liaison in the development of the Belt and Road Initiative (BRI), said Lam.

As an important gateway and platform for the BRI, Hong Kong is leveraging its advantages in trade, professional service industry and the global financial environment to exploring new economic growth points through cooperation with BRI countries.

Laying down foundations

In order to achieve the goal, governmental and civil organizations in Hong Kong have been laying the groundwork by setting up institutions to handle BRI-related affairs specifically.

In 2016, Hong Kong government set up a BRI office to study and launch strategies and policies on how to be part of the BRI.

In 2018, Hong Kong Trade Development Council (HKTDC) established the B&R Global Alliance, attracting 121 institutions from 30 countries and regions, with more than five million members.

In civil society, in 2018, the Chinese General Chamber of Commerce, Hong Kong and China International Contractors Association jointly founded Chinese mainland Hong Kong Belt and Road Business and Professional Service Council, a communication platform between Hong Kong's professional service industry and businesses on the Chinese mainland to promote cooperation between the two sides in BRI countries and regions. 

Boosting financial services under the BRI

As an international financial center, the core for Hong Kong to play up to the role of super liaison is to unleash its advantages, which is financing.

Nowadays, Hong Kong is exploring diversified financing services under the BRI. For example, the Securities & Futures Commission of Hong Kong has issued guidelines for the listing of infrastructure projects by companies, and Hong Kong has implemented a bond-funded pilot plan and a green bond funding plan.

Besides a highly-developed financial service industry, the international lawyer industry and the mature and stable legal system in Hong Kong also guarantees a safe legal environment for Chinese companies developing in overseas markets.

Hong Kong boasts many top global professional service institutions, covering areas of financial accounting, investment, risk management and engineering, which could well support the sustainable development of the BRI.