Hong Kong Hosts 9th Belt And Road Summit With Focus On Sustainable Development

The Ninth Belt and Road Summit commenced today, organised by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council. This year's theme is "Building a Connected, Innovative and Green Belt and Road". The event, held at the Hong Kong Convention and Exhibition Centre, marks the 75th anniversary of the People's Republic of China.

John Lee, Chief Executive of the Hong Kong Special Administrative Region Government, highlighted green development in his opening speech. He stated, "Hong Kong contributes to the cause of sustainability by not only developing green tech but also by leveraging our expertise in financial services and driving the development of green finance." Earlier this year, Hong Kong launched the world's first multi-currency, tokenised green bond.

The summit has attracted over 80 top officials and business leaders from Belt and Road countries. This gathering aims to explore numerous commercial opportunities. Last year, Belt and Road economies accounted for more than 43 percent of Hong Kong's external trade value with regions other than Mainland China.

Lee emphasised Hong Kong's strategic location as crucial for advancing Belt and Road goals. He noted that between 2013 and 2023, Hong Kong's external trade with Belt and Road economies surged by almost 60 percent. "We came fifth in the world in the latest World Competitiveness Yearbook. In 'international trade' and 'business legislation', we were ranked first globally," he added.

Nicholas Ho Lik-chi, Commissioner for Belt and Road Initiative, spoke about UAE-Hong Kong relations during a press briefing. He mentioned that these ties began in the early 2000s. Significant cooperation exists between Dubai International Financial Centre and Hong Kong's International Financial Centre.

Exploring Emerging Market Opportunities

The summit's first day will focus on ASEAN markets while the second day will cover Middle East regions to explore emerging market opportunities. Nicholas Ho Lik-chi praised UAE policies for fostering innovations and market exploration. Future cooperation will target professional services, infrastructure, green innovation, and healthcare sectors.

Lee also mentioned that this year's summit drew 6,000 prominent figures from various countries. The event aims to inspire countries to share opportunities, accelerate joint development, and embrace comprehensive cultural exchanges.

Hong Kong's role in promoting the BRI aligns closely with eight key steps outlined by Chinese President Xi Jinping last year. These steps support high-quality Belt and Road cooperation.

The summit serves as a leading platform for Hong Kong to promote BRI initiatives. It aligns with China's broader goals for sustainable development through innovative financial solutions like green bonds.

The event underscores Hong Kong's commitment to sustainability through green finance initiatives. It also highlights its strategic importance in global trade networks.

Future collaborations between UAE and Hong Kong will focus on sectors like professional services, infrastructure development, green innovation, and healthcare advancements.

The Ninth Belt and Road Summit continues tomorrow with discussions on emerging markets in the Middle East region.

With inputs from WAM