Belt and Road: Hong Kong-IN Sharing Session on Financial Services and Business Growth

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The “Belt and Road: Hong Kong-IN” Sharing Session on Financial Services and Business Growth jointly organised by the Commerce and Economic Development Bureau (CEDB), the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and the Hong Kong Chinese Enterprises Association was held in Hong Kong today (November 19).

Mr Edward Yau
The Secretary for Commerce and Economic Development, Mr Edward Yau, delivers concluding remarks at the “Belt and Road: Hong Kong-IN” Sharing Session on Financial Services and Business Growth jointly organised by the Commerce and Economic Development Bureau, the State-owned Assets Supervision and Administration Commission of the State Council and the Hong Kong Chinese Enterprises Association today (November 19).

The sharing session was comprised of two panels, both moderated by the Commissioner for Belt and Road, Mr Denis Yip. The discussions centred around how Hong Kong’s all-round professional financial and related services can support enterprises in respect of Belt and Road financing, challenges in opening up Belt and Road markets, as well as how Hong Kong professional services leverage the city’s unique advantages in providing solutions. Panel speakers shared their experiences and successful cases, and held exchanges with the participants. Business matching opportunities were also featured.

About 200 representatives from state-owned, Mainland and Hong Kong enterprises as well as local professionals and chambers of commerce attended the sharing session. Among the participants were over 20 representatives of the SASAC and state-owned enterprises led by the Deputy Director-General of the Bureau of Property Right Management of the SASAC, Mr Xie Xiaobing. The Secretary for Commerce and Economic Development, Mr Edward Yau, and Mr Xie spoke at the sharing session.

Mr Yau highlighted that as an international financial centre, Hong Kong opens diverse financing channels with lower financing costs in support of Belt and Road infrastructure projects. Together with its ability to establish pioneer financial infrastructure that connects itself with the Mainland and the rest of the world, Hong Kong is well positioned to meet the diverse capital needs of the Belt and Road Initiative.

Belt and Road Hong Kong-IN session

Photo shows the Commissioner for Belt and Road, Mr Denis Yip (first left), moderating a panel discussion joined by (from second left) the Deputy Chief Executive of Bank of China (Hong Kong) Limited, Mr Wang Bing; the Deputy Chief Executive Officer of the Securities and Futures Commission, Ms Leung Fung-yee; and the Director of Operation of Hong Kong Quality Assurance Agency, Mr P C Chan.

He further pointed out that Hong Kong is striving to develop as the green finance centre of Asia, providing capital for sustainable Belt and Road projects as well as establishing firm foundations in green finance certification and regulation. Quite a number of banks in Hong Kong have set up dedicated green finance teams and the city’s related professionals are also ready to facilitate the development of a green Belt and Road.

Today’s sharing session is the third of the same series jointly organised by the CEDB and the SASAC, following the sessions held in August 2018 and February of this year. Both sides found the sharing sessions useful in raising awareness of the Initiative and its related issues, and enhancing the SASAC’s understanding of Hong Kong’s professional services. Opportunities have also been taken to promote collaboration between enterprises of the two places, and to encourage those businesses to partner with professional services providers to go global as they explore Belt and Road prospects.

Mr Yau stressed that the Government of the Hong Kong Special Administrative Region will continue to strengthen its work in taking forward the Belt and Road Initiative. Policy co-ordination with relevant Central authorities including the SASAC will be strengthened, and experience sharing and capacity building on policy areas related to the Initiative will be enhanced.

Panel speakers at the sharing session today included the Deputy Chief Executive of Bank of China (Hong Kong) Limited, Mr Wang Bing; the Deputy Chief Executive Officer of the Securities and Futures Commission, Ms Leung Fung-yee; the Director of Operation of Hong Kong Quality Assurance Agency, Mr P C Chan; the Director and Executive Vice President of China Mobile International Limited, Mr Shen Weizhong; the Chairman of Federation of Hong Kong Industries, Dr Daniel Yip; the Vice President of China Life Insurance (Overseas) Company Limited, Mr Yu Deben; and the Executive Director and Vice President of Shanghai Industrial Investment (Holdings) Company Limited, Mr Xu Bo.

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