The Impact of the Silk Road Economic Zone Strategy on the Potential Benefits of Hongkong
2017-01-13 | author : giser

category : VIEWPOINT

At the Annual Conference of Boao Forum held in Hainan on 27 March 2015, the Chief Executive suggested the following opportunities for Hong Kong under the Belt-Road Initiative:

Fundraising hub

Leveraging on its strengths of fully convertible currency, free flows of capital and its status as global financial capital, Hong Kong has the expertise to serve as the fundraising hub for the Belt-Road Initiative.

Offshore renminbi hub

Hong Kong is the largest hub for offshore renminbi business. It can further entrench the hub position by providing global investors with more renminbi services such as bond issuance, trade settlement and asset management services under the Belt-Road Initiative.

Trade and investment hub

Hong Kong now handles some 20% of the international trade of the Mainland. As a "super-connector" between the Mainland and the rest of the world, Hong Kong can benefit from the Belt-Road Initiative through helping overseas companies enter the China market on the one hand, and assisting Chinese enterprises in going global on the other.

Hub for service professionals

Hong Kong is renowned for its excellent professional services, such as legal, banking, accountancy and insurance, architectural and engineering. Professionals in these fields may benefit from opportunities amidst increased connectivity in the region.

Logistics and transportation hub

Hong Kong is well-situated along the Maritime Silk Road. On the back of its long maritime history and a cluster of professional maritime services, it should have competitive strengths in logistics services. On airborne services, as Hong Kong is within reach of major Asian economies within four hours of flight time, it likewise has strong competitiveness.

Meanwhile, the Financial Secretary also suggests that Hong Kong can actively take part in the Belt-Road Initiative as "investors, connectors and supporters". He plans to lead a business delegation later this year to visit some of the places along the two corridors to explore new business opportunities.

label :
  Be logged in to post a comment !

Comment list ( 0 )