HK business community urged to play bigger role in BRI

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.

He made the remarks at a high-level 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 and 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 BRI.

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 playing a more active role in the BRI.

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 and Sept 1, 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 in the sectors on Thursday has further showcased their enterprising spirit and had a positive effect on efforts to facilitate development.

He added that the next five years will be a critical period for Hong Kong as it seeks to break new ground and achieve new successes, and as the nation accelerates 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, Hong Kong Chief Executive John Lee Ka-chiu vowed to work to boost Hong Kong's development momentum and push forward the BRI Initiative to live up to the expectations of Xi and Han.

Lee said Hong Kong could provide services in areas such as financing innovative technology resources to facilitate the initiative's participating economies and enterprises to pursue business projects under the BRI framework.

With these favorable conditions and the 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 advantage of the city's resources and strengths to tell Hong Kong's great stories around the globe.

Deng Renjie, executive vice-president of China Merchants Group, said the group will continue to invest in and operate projects in regions involved in the initiative by leveraging the city's strengths in capital, talent, financial markets, legal and accounting services.

Lam Lung-on, president of the Hong Kong Chinese Importers' and Exporters' Association, said the seminar gave the business sector great confidence about the city's integration into the initiative and its economic recovery.

Patrick Healy, who serves on Swire Pacific's board and who is chairman of the group's Cathay Pacific and Swire Coca-Cola branches, said the group sees opportunities to contribute substantially to the BRI, but will also be the beneficiaries of it.

Li Bingcun contributed to this story.