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“CIFTIS” Helps Hong Kong Seize Business Opportunities of the “Belt and Road”

As the “Belt and Road” strategic conception gradually becomes clear, the industrial circle of Hong Kong also devotes itself to the construction of “the Belt and Road” with practical actions. For instance, the Chinese Manufacturers Association of Hong Kong organized an inspection in three Central Asian countries; the Federation of Hong Kong Industries organized a delegation to investigate Iran; the Chinese Securities Association of Hong Kong recommended and introduced the monograph of “the Belt and Road”, etc. At the fourth “CIFTIS”, a theme forum focusing on Hong Kong’s participation in the construction of “the Belt and Road” attracted a number of experts, scholars and business personages from the Mainland and Hong Kong to participate. The attendees mainly focused on the four advantages of Hong Kong in the construction of “the Belt and Road”, including the regional advantage, the first-mover advantage for opening and cooperation, the professional advantage of the service industry and the cultural advantage of inherited contexts, and actively offered ideas for Hong Kong to participate in the construction of “the Belt and Road” of China.      

Yeh Chak-yan, Vice President of the Hong Kong Trade Development Council, said, “The geographic advantages of Hong Kong enables it to play multiple roles in the strategy, including a mediation & arbitration center, an infrastructure service integration center, a logistics and shipping service center, a global investment center, a regional trade center and an international finance center. While serving domestic and overseas enterprises, it also creates new opportunities for Hong Kong.”

Au Siu-cheung, President of BDO Limited, believes that Hong Kong has diversified financing channels and networks in the capital market, and its international accounting & auditing standards and professional finance services with high trading market transparency can both assist domestic enterprises in going global. He also holds that as an arbitration center, Hong Kong can alleviate the litigation risk of the Mainland enterprises going global.

Meng Shusen, Executive Vice-President of China Unicom International Co., Ltd., suggested that in the aspect of network communication services, Hong Kong may give play to the advantage of interconnection, build the international information hub of “the Belt and Road” by networking, and serve the Chinese enterprises to go global.

Zhang Wei, Vice-Director of the Chinese Academy of International Trade and Economic Cooperation, MOFCOM, said, “The enterprises of both sides may complement each other's advantages: the Mainland gives play to its advantage in the manufacturing field while Hong Kong gives play to its advantage in the service field to seek common development.”