Hong Kong to deepen Belt and Road role as emerging markets expand
Thestandard · 2 SOURCESabout 3 hours ago6 MIN
Summary
Financial Secretary Paul Chan Mo-po (陳茂波) has outlined Hong Kong's strategy to deepen its role in the Belt and Road Initiative, positioning the city as an indispensable platform for international trade and investment as emerging markets experience rapid growth. In his weekly blog published on Sunday, Chan highlighted how the gradual relocation of mainland China's industrial chains towards Belt and Road regions reflects the dynamic shift in global supply chains.
The 11th Belt and Road Summit, themed "Advancing High-Quality Development, Embarking on a New Journey," will take place in Hong Kong on Wednesday and Thursday this week . This year's event introduces a dedicated "Go Global Chapter" for the first time, specifically designed to support mainland firms expanding overseas .
Key Points
- Paul Chan Mo-po noted that rapid growth across emerging markets is reshaping global supply chains and driving substantial capital inflows, establishing an active two-way corridor for international trade and investment
- Over the past five years, the combined share of ASEAN, Middle Eastern, and Central Asian markets in Hong Kong's total trade has expanded to approximately 17 percent, growing at an average annual rate of nearly 10 percent
- Hong Kong's direct investment in ASEAN reached US$16.5 billion last year—up roughly 140 percent from five years ago—while more than 930 ASEAN and Middle Eastern companies have established operations in the city, representing a nearly 30 percent increase
- The summit will focus on key growth sectors including energy transition, artificial intelligence, the low-altitude economy, and urban development, alongside site visits designed to foster direct commercial collaboration
- More than 100 Belt and Road enterprises are currently listed in Hong Kong, with a combined market value exceeding HK$340 billion, while state-owned infrastructure firms from Central Asia are planning listings in the city
Why It Matters
With mainland firms having established approximately 58,000 overseas entities, creating more than two million local jobs annually with an investment stock of US$3.4 trillion, Hong Kong's role as the top choice for mainland enterprises seeking global expansion could cement its status as Asia's premier financial hub amid intensifying regional competition .
With mainland firms having established approximately 58,000 overseas entities, creating more than two million local jobs annually with an investment stock of US$3.4 trillion, Hong Kong's role as the top choice for mainland enterprises seeking global expansion could cement its status as Asia's premier financial hub amid intensifying regional competition .