The 9th Belt and Road Summit, co-organized by the Hong Kong government and the Trade Development Council, commenced today (11th) with over 6,000 delegates from 70 countries and regions, including representatives from 38 central enterprises. Chief Executive John Lee announced that the Belt and Road Initiative is entering its next golden decade, highlighting Hong Kong's unique position under the "one country, two systems" framework, which allows it to leverage both national and global advantages. He reiterated Hong Kong's commitment to providing world-class infrastructure and professional services while advocating for free and multilateral trade.
Key Initiatives and Talent Development
John Lee emphasized plans to enhance the local talent pool, including the upcoming operational launch of the airport's third runway by year-end, which will expand air transport connectivity. The government is funding scholarships for over 4,000 students from Belt and Road countries to study in Hong Kong, enabling them to work or explore development opportunities in the city for two years post-graduation.
During his recent visit to three ASEAN countries, Lee secured support for Hong Kong's accession to the Regional Comprehensive Economic Partnership (RCEP) and signed over 50 memoranda of understanding. He encouraged global investors to leverage Hong Kong’s strengths in finance, law, and logistics, noting its unique status as the only common law jurisdiction in mainland China.
Future Engagements and Economic Prospects
Secretary for Commerce and Economic Development YAU Ying Wah announced plans to visit Peru in November to further pursue its accession to the agreement. The Belt and Road Initiative has already shown significant results in infrastructure, finance, and people-to-people exchanges, with World Bank estimates predicting it will generate $16 trillion in annual revenue globally after 2023.
YAU Ying Wah highlighted Hong Kong's role as a gateway for multinational supply chain management, providing a range of support services including consulting, trade financing, and legal services. He also discussed ongoing discussions with Indonesia, noting similar development strategies in innovation and new energy, and the growing ties between Hong Kong and Belt and Road countries, particularly with its substantial Indonesian population.