September 9, 2022
HONG KONG – The central government’s top official in the Hong Kong Special Administrative Region called on the city’s business sector on Thursday to proactively seize new opportunities arising from the Belt and Road Initiative.
Luo Huining, director of the Liaison Office of the Central People’s Government in the HKSAR, said that the next five years will be crucial for Hong Kong to achieve new successes.
Luo made the remarks at a high-end seminar held to discuss the role of Hong Kong’s business sector in the Belt and Road.
Luo said in a speech that Hong Kong has moved from chaos to prosperity to a new stage in which historic opportunities and favorable conditions await the city as it furthers its development under the successful “one country, two systems” principle and the Belt and Road Initiative.
Luo cited President Xi Jinping’s July 1 speech in Hong Kong, and Vice-Premier Han Zheng’s speech on Aug 31 at the opening ceremony of the Belt and Road Summit, which respectively stressed the central government’s firm support for Hong Kong’s aligning itself with national development strategies, and the city’s playing a more active role in the BRI.
Luo Huining, director of the Liaison Office of the Central People’s Government in the HKSAR, said that the next five years will be crucial for Hong Kong to achieve new successes
Thursday’s seminar was held by the Hong Kong Trade Development Council and seven local business chambers, including the Chinese General Chamber of Commerce and the Chinese Manufacturers’ Association of Hong Kong.
It followed the high-profile two-day Belt and Road Summit on Aug 31, which saw over 800 talks among the industrial and commercial sector on over 280 investment projects.
Luo said the meeting of the movers and shakers of the sector on Thursday has further showcased their enterprising spirit and had a positive effect on efforts to facilitate development in the sector.
Luo said that the next five years will be a critical period for Hong Kong as it seeks to break new ground and achieve new successes, as the nation is accelerating its transition to a new development pattern.
Luo expressed his expectations for the city’s business sector to strive for Hong Kong’s economic development and consolidate its status as an international hub for finance, innovation and technology, as well as to fully integrate into the nation’s overall development and that of the Guangdong-Hong Kong-Macao Greater Bay Area.
Also addressing the seminar was Chief Executive John Lee Ka-chiu, who vowed to work to boost Hong Kong’s development momentum and push forward the Belt and Road Initiative to live up to the expectations of Xi and Han.
Lee said that Hong Kong could provide services in areas such as financing inno-tech resources to facilitate the initiative’s participating economies and enterprises to pursue business projects under the BRI framework.
Chief Executive John Lee Ka-chiu said that Hong Kong could provide services in areas such as financing inno-tech resources to facilitate the initiative’s participating economies and enterprises to pursue business projects under the BRI framework
With all these favorable conditions and unique advantages of “one country, two systems”, the city will make great achievements under the national-level strategy, he said.
Peter Lam Kin-ngok, chairman of the Hong Kong Trade Development Council, pledged to lead the HKTDC to better take advantages of the city’s resources and strengths to tell good Hong Kong stories around the globe.
He urged local business sectors to actively shoulder their responsibilities in building a brighter future of the city by consolidating the metropolis’s position as an international hub in various areas, and proactively participating in national development and the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.
Former justice secretary Rimsky Yuen Kwok-keung said that Hong Kong’s legal community is poised to benefit from the Belt and Road Initiative as common law is widely accepted by the international business community, and Hong Kong is also a recognized center for legal services and dispute resolution.
He added that countries and regions do not need to sign any framework agreement to participate in the BRI framework, which demonstrates the BRI’s openness and inclusiveness in the face of possible disputes arising from different legal systems of participating countries and regions.
Hong Kong’s unique legal advantages and sound dispute-resolution system enable it to effectively solve possible disputes arising from different legal systems. The internationally acclaimed Hong Kong International Arbitration Centre could offer professional and diversified arbitration services in this regard, Yuen said.