May 17, 2024
HONG KONG – As a global financial center, an asset and wealth management hub, and the world’s largest offshore renminbi service center, Hong Kong can facilitate ASEAN countries to access to the Chinese mainland market and explore business opportunities, the president of the Legislative Council said on Wednesday.
Andrew Leung Kwan-yuen, who is leading a LegCo delegation currently visiting Indonesia, said this during a networking reception with the Association of Southeast Asian Nations Community in Indonesia. Permanent representatives from ASEAN member states, ambassadors of observer state and dialogue partners attended the reception hosted by the LegCo delegation, according to a LegCo Secretariat statement.
Speaking at the reception, Leung said under the “one country, two systems” principle, Hong Kong holds a unique strength to play the role of a “super-connector” and a “super value-adder”, which would facilitate ASEAN countries to access to the Guangdong-Hong Kong-Macao Greater Bay Area market and work together to promote the Belt and Road Initiative collectively.
He also emphasized that the implementation of the national security legislation in the special administrative region provides a stable and secure environment for business investment.
The LegCo delegation introduced to the representatives the latest developments in commerce, finance, innovation and technology, and tourism in Hong Kong.
Expressing gratitude for the support of ASEAN member states in Hong Kong’s early accession to the Regional Comprehensive Economic Partnership, the delegation members said they have every confidence that after joining RCEP, Hong Kong could strengthen the collaboration with ASEAN counties in the areas of finance, infrastructure, innovation and technology, tourism and education so as to enhance regional economic development and prosperity.
During the day, the delegation also paid a courtesy call on the Deputy Secretary-General of ASEAN Satvinder Singh to exchange views on topics related to Hong Kong’s accession to RCEP.
Hong Kong has a well-established infrastructure, and a strong foundation in digital technology and financing and bond markets, which would help ASEAN to explore new market opportunities, it said.
The delegation members had a dinner and exchanged views with Chinese Ambassador to ASEAN Hou Yanqi and expressed their gratitude for her support and assistance to the delegation to engage with representatives to tell good stories of Hong Kong and discuss regional economic and trade cooperation.
On Thursday, the LegCo delegation had discussions with Chinese Ambassador to Indonesia Lu Kang to discuss ways to strengthen economic, trade, and cultural connections between Hong Kong and ASEAN countries, including Indonesia.
The delegation members also took a ride on the Jakarta-Bandung High-Speed Railway (JBHSR) to learn about the operation and future development of JBHSR.
Commissioned in October last year, JBHSR connects Jakarta and Bandung and is Southeast Asia’s first high-speed railway and a key BRI project.
The delegation shared Hong Kong’s experience in operating and managing high-speed railways, and discussed the opportunities that Hong Kong and Indonesia could jointly pursue in transport infrastructure projects under the BRI.