中国日报香港11月18日电(记者 周君君、柴华、周沫)中国日报今日在香港举办题为“一带一路,贸易投资新策略”的专题研讨会,深入探讨亚洲贸易及投资业在“一带一路”建设中的发展前景,吸引逾二百位业界精英人士参与。 中国日报是本港唯一连续两年与亚洲物流与航运会议合作的媒体。本次研讨会邀请到的演讲嘉宾有恒生银行有限公司执行董事兼环球银行及资本市场业务主管冯孝忠先生;香港理工大学中国商业中心主任陈文鸿博士;马尔代夫美佳航空公司商务总裁鲍迅捷先生及前海管理局香港事务首席联络官洪为民博士。 中国于2013年提出的“一带一路”战略,惠及60多个国家,为全球逾40亿人口带来深远影响。迄今为止,中国与“一带一路”周边国家签署的自由贸易项目总投资额超过2500亿美元,涉及基建、能源、运输等诸多领域,逐步形成一个经济带。 随着亚洲区域内基础设施建设及自由贸易持续增长,“一带一路”战略将进一步激发沿线国家及地区的发展潜能,消除贸易壁垒,促进区域经济联通。公营及私营机构需紧密合作,促进亚洲物流及航运业的长远发展。 香港作为全球最大的航空港,亦是珠三角地区重要空运枢纽,在“一带一路”建设中担当中国和世界的“超级联系人”。香港特别行政区行政长官梁振英在最近出访英国伦敦时表示,香港正积极与东盟十国洽谈自贸协议。 11月18日,中国日报于亚洲物流及航运会议举办题为“‘一带一路’贸易投资新策略”的专题研讨会,吸引逾二百位业界精英人士参与。图为论坛现场。(中国日报 郑尔奇摄) 恒生银行有限公司执行董事兼环球银行及资本市场业务主管冯孝忠先生阐述了四个业内外非常关注的有关“一带一路”的议题,包括“一带一路”与基建项目的发展前景等。他表示从短期来看,租赁和设备融资的需求将不断上升;但是在今后航运及航空方面的需求也会逐渐复兴。 香港理工大学中国商业中心主任陈文鸿博士系统解释阐述了“一带一路”的发展模式和前景,他认为,香港将会是中国内地与“一带一路”沿线国家的重要聚焦地,香港应抓住这一发展机遇。他强调,香港除了看向英国和欧洲的传统发展模式外,更应该与“一带一路”沿线国家多交流多沟通。 马尔代夫美佳航空公司商务总裁鲍迅捷先生表示南亚国家对“一带一路”发展非常感兴趣,香港作为重要的桥梁之地,应该发挥其关键的航空港作用。 前海管理局香港事务首席联络官洪为民博士指出香港的“超级联系人”角色非常重要,前海作为中国内地新兴发展自贸区,将会与香港一同构建贸易发展的新模式。 中国日报亚洲领袖圆桌论坛(www.cdroundtable.com)是一个由亚洲国家和地区的政、商、学界领袖和社会精英参与的高端对话和交流平台,围绕亚洲地区经济、商业、产业和社会发展等具有战略影响的重要议题展开讨论,至今在港、澳和亚太多国已经举办了40余届,逾万名决策精英参与。 (编辑:高晴)
2015-11-20Hong Kong is poised to play a role in offshore yuan financing, institutional intermediation, legal arbitration and other professional services provision to facilitate the Belt and Road Initiative, the China Daily Asia Leadership Roundtable heard on Wednesday. However, the city must learn fast, and the government needs to do much more than its competitors, in view of the Belt and Road Initiative which promises to be a game-changer, panelists at a forum said. The roundtable forum, themed “Belt and Road Initiative: Implications and Opportunities for Trade and Investments” — held as part of the Asian Logistics and Maritime Conference — took place on Nov 17 and 18. Various panelists from the banking, academic, aviation and regulatory sectors examined the opportunities and challenges ahead for Hong Kong. Proposed by President Xi Jinping in 2013, the Belt and Road Initiative is the national strategy that aims to enhance connectivity for 4.4 billion people from more than 60 economies with a gross economic volume of around $22 trillion. Since its announcement, more than $250 billion worth of infrastructure projects have been contracted. “Banks in Hong Kong need to revitalize the old-fashioned businesses, such as maritime cargo insurance, shipping finance and aircraft leasing, to capture businesses with more opportunities. The Belt and Road Initiative also involves Islamic financing and, luckily, the city has started this business, otherwise, we may be out of the game,” said Andrew Fung Hau-chung, executive director and head of global banking and markets at Hang Seng Bank. The world’s largest offshore yuan liquidity is also a niche area banks in Hong Kong can leverage on, Fung said. “It provides new opportunities for banks in Hong Kong to use the yuan for the liability. Hong Kong is lucky in this regard.” Academicians highlighted Hong Kong’s role in institutional intermediation and legal arbitration, besides financing. “Many Russian business firms have already come to Hong Kong to take advantage of the city’s deep connections and institutional framework,” said Thomas Chan Man-hung, head of the China Business Centre at Hong Kong Polytechnic University. Mega Maldives Airlines Chief Commercial Officer Sandeep Bahl noted that aviation will provide an important connector to achieve people-to-people bond and cultural exchanges advocated by the Belt and Road Initiative. “Once we have people-to-people and cultural exchanges, these things will grow and then we have super-connection within five hours anywhere you go from Hong Kong and this may even get down to two-and-a-half hours,” Bahl told delegates at the roundtable. “The Belt and Road Initiative helps mainland enterprises’ capital and production capacity to go out, but these firms do not know much about foreign markets. Hong Kong can offer professional services in mergers and acquisitions, as well as financing and legal expertise, to help mainland companies go out,” Shenzhen Qianhai Authority’s Principal Liaison Officer for Hong Kong Affairs Witman Hung Wai-man noted. However, Hong Kong also faces various challenges ahead under the Belt and Road Initiative. “Hong Kong’s challenges lie in learning and re-engineering, that is to acquire new languages, knowledge and capabilities for non-Anglo-Saxon practices and civilizations, so that Hong Kong can upgrade local knowledge to provide intensive services by becoming an open platform for firms and talents from the Eurasian and South Asian countries,” Chan cautioned. Hong Kong should learn from London, Chan said. “See how London resurges to become the top financing center since 1950. We must take a holistic approach on how to improve our services,” he envisaged. People have to look at tax treaty/tax treatment regarding cross-border leasing activities, according to Fung. “We are left behind it,” he said. Hung said it was not enough for Hong Kong to just play “super-connector”. “In the Internet age, the business value decreases if we are only the intermediary. Hong Kong has to provide additional services related to various initiatives,” he added. Contact the writer at oswald@chinadailyhk.com Source: http://www.chinadailyasia.com/2015-11/20/content_15347311.html
2015-11-20Hong Kong is in an advantageous position to provide financial support to enterprises trying to expand their business in countries that come within the ambit of the Belt and Road Initiative, said Andrew Fung Hau-chung, executive director and head of global banking and markets at Hang Seng Bank. With more than 60 countries and economies covered by the initiative, many businesses will require cross-border financing. “Hong Kong has a very good presence of international banks. Most of the large international banks have branches in Hong Kong,” Fung told China Daily in an exclusive interview. “Therefore, it is a good financing hub for making cross-border financing, (either) from the mainland to Central Asia or from the mainland to ASEAN,” said Fung. While Fung believes that banks in Hong Kong have already been offering comprehensive financial services to enterprises, he stressed that they still need to strengthen their services, as the Belt and Road Initiative and renminbi internationalization will create more demand for renminbi-based financing. “If customers start to use more renminbi in trade, then banks have to strengthen their capacity. For example, in the payment system, banks probably need to join the Cross-border Interbank Payment System for making payments because, in the past, most of the payments were made in either US dollars or euro.” Meanwhile, the SAR is facing increasing competition from mainland cities and other international financial centers such as London and Singapore, despite being the largest offshore renminbi center, Fung pointed out. Hong Kong used to be the only financial center, he noted, but now it has to compete with several others for a bigger slice of the cake. But he insisted that the Belt and Road Initiative will bring more benefits to Hong Kong as the demand for cross-border loans rises, with the SAR having an edge. Fung expects to see growing demand for equipment financing in the short term, followed by the revival of shipping and aircraft leasing in the medium term. Hong Kong used to be a big center for aircraft financing, said Fung, but the absence of tax treaties has led to a sharp drop in its competitiveness in the past few years. “Many countries have brought about tax reforms that make Hong Kong less competitive. So, we have to see if we could introduce some tax reforms that encourage cross-border leasing.” He urged the SAR government to play a bigger role by reviewing tax treatment for cross-border leasing to support the Belt and Road Initiative in the aspect of financing. sally@chinadailyhk.com Source:http://www.chinadailyasia.com/2015-11/20/content_15347318.html
2015-11-20For Immediate Release PRESS RELEASE Pundits explore opportunities for Asia under ‘Belt and Road Initiative’ Nov 18, 2015, Hong Kong -Business and finance industry leaders gathered in Hong Kong for a special forum organized by China Daily to discuss the implications, as well as the opportunities for Asia’s trade and investment sectors created by the China-led “Belt and Road Initiative”. The forum, themed “Belt and Road Initiative”: Implications and Opportunities for Trade and Investments”, was held at the Hong Kong Convention and Exhibition Centre on Wednesday, November 18, 2015, in conjunction with the Asian Logistics and Maritime Conference (ALMC), which was attended by more than 300 delegates from across the continent’s trade, finance and logistics industries. China Daily has been the only media in Hong Kong that has co-organized similar dialogue sessions with ALMC for two consecutive years. The “Belt and Road Initiative”, first mooted by President Xi Jinping in 2013, aims to enhance connectivity for 4.4 billion people from more than 60 countries. Since the announcement of the “Belt and Road Initiative”, a string of free trade agreements have been signed between China and countries and regions along the “Belt and Road” routes, involving more than US$250 billion worth of projects, ranging from railways to power plants. During a recent visit to London, The Honourable C Y Leung, Chief Executive, Hong Kong Special Administrative Region, said Hong Kong is in talks with all the 10 member states of the Association of Southeast Asian Nations (ASEAN) on a free trade agreement. Infrastructure development will also play a crucial role in removing barriers to trade among various countries, while Hong Kong, which is home to the world’s number one air-cargo hub, is concerned about airspace management in the Pearl River Delta region. With increased infrastructure construction and more free trade pacts on the way, the “Belt and Road initiative” will help to dismantle trade and investment barriers and enhance connectivity among nations along the routes. Public and private business sectors should work closely together to capitalize on these opportunities for their continued growth. The distinguished panelists at the China Daily forum included Mr. Andrew FUNG, JP, Executive Director and Head of Global Banking and Markets, Hang Seng Bank; Dr. Thomas CHAN, Head of China Business Centre, Hong Kong Polytechnic University; Mr. Sandeep BAHL, Chief Commercial Officer, Mega Maldives Airlines; and Dr. Witman HUNG, JP, Principal Liaison Officer for Hong Kong, Shenzhen Qianhai Authority. Mr. Fung gave an insightful analysis of the future development of the “Belt and Road” initiative. “In the short term, leasing and equipment financing will see the biggest immediate demand. In the medium term, I would see a revival of the shipping and aircraft-leasing business,” he said. Dr. Chan stressed Hong Kong’s prominent role in the “Belt and Road” initiative, saying: “Hong Kong should learn to go beyond its traditional knowledge of the UK or Europe. It should look at and learn more about other emerging countries along the ‘Belt and Road’.” Mr. Bahl shared his valuable thoughts on the aviation industry: “South Asian countries have been very active in pushing the ‘Belt and Road’ initiative. The trade volume between China and the Maldives in past two years has tripled to US$200 million. The combined economies along the ‘Belt and Road’ represent a significant market not only for Hong Kong, but also all Asian countries,” he said. Dr. Hung said: “Hong Kong, being just a ‘super-connector’ is not enough. I think Hong Kong and the mainland together can help shape the new order and trading standards.” About China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia providing platforms for focused dialogue, issue investigation, and possible collective action on strategic issues relating to economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia. (www.cdroundtable.com)
2015-11-19新聞稿 即時發佈 各界領袖齊聚中國日報「一帶一路」論壇 共議亞洲貿易及投資界未來 (2015年11月18日香港) 中國日報今日舉辦題為「一帶一路,貿易投資新策略」的專題研討會,深入探討亞洲貿易及投資業在「一帶一路」建設中的發展前景,吸引逾二百位業界精英人士參與。 中國日報是本港唯一連續兩年與亞洲物流與航運會議合作的媒體。本次研討會邀請到的演講嘉賓有恆生銀行有限公司執行董事兼環球銀行及資本市場業務主管馮孝忠先生;香港理工大學中國商業中心主任陳文鴻博士;馬爾代夫美佳航空公司商務總裁鮑迅捷先生及前海管理局香港事務首席聯絡官洪為民博士。 中國於2013年提出的「一帶一路」戰略,惠及60多個國家,為全球逾40億人口帶來深遠影響。迄今為止,中國與「一帶一路」周邊國家簽署的自由貿易項目總投資額超過2500億美元,涉及基建、能源、運輸等諸多領域,逐步形成一個經濟帶。 隨著亞洲區域內基礎設施建設及自由貿易持續增長,「一帶一路」戰略將進一步激發沿線國家及地區的發展潛能,消除貿易壁壘,促進區域經濟聯通。公營及私營機構需緊密合作,促進亞洲物流及航運業的長遠發展。 香港作為全球最大的航空港,亦是珠三角地區重要空運樞紐,在「一帶一路」建設中擔當中國和世界的「超級連絡人」。香港特別行政區行政長官梁振英在最近出訪英國倫敦時表示,香港正積極與東盟十國洽談自貿協議。 恒生銀行有限公司執行董事兼環球銀行及資本市場業務主管馮孝忠先生闡述了四個業內外非常關注的有關「一帶一路」的議題,包括「一帶一路」與基建項目的發展前景等。他表示從短期來看,租賃和設備融資的需求將不斷上升;但是在今後航運及航空方面的需求也會逐漸復興。 香港理工大學中國商業中心主任陳文鴻博士系統解釋闡述了「一帶一路」的發展模式和前景,他認為,香港將會是中國內地與「一帶一路」沿線國家的重要聚焦地,香港應抓住這一發展機遇。他強調,香港除了看向英國和歐洲的傳統發展模式外,更應該與「一帶一路」沿線國家多交流多溝通。 馬爾代夫美佳航空公司商務總裁鮑迅捷先生表示南亞國家對「一帶一路」發展非常感興趣,香港作為重要的橋樑之地,應該發揮其關鍵的航空港作用。 前海管理局香港事務首席聯絡官洪為民博士指出香港的「超級連絡人」角色非常重要,前海作為中國內地新興發展自貿區,將會與香港一同構建貿易發展的新模式。 中國日報亞洲領袖圓桌論壇(www.cdroundtable.com)是一個由亞洲國家和地區的政、商、學界領袖和社會精英參與的高端對話和交流平臺,圍繞亞洲地區經濟、商業、產業和社會發展等具有戰略影響的重要議題展開討論,至今在港、澳和亞太多國已經舉辦了40餘屆,逾萬名決策精英參與。 --完—
2015-11-19Hong Kong, a world-class business center, is ideally positioned to benefit from China’s Belt and Road Initiative but only if it can leverage its traditional strengths and find its competitive edge.This was the underlying message of a panel of top-level speakers who joined Hong Kong Chief Executive Leung Chun-ying in Hong Kong on Oct 29 for a China Daily Asia Leadership Roundtable to consider how the special administrative region can unleash the potential of the Belt and Road Initiative. “For the country it is an unprecedented strategic vision, while the promise for Hong Kong is equally outsized,” said Leung. Proposed by President Xi Jinping in 2013, the Belt and Road Initiative aims to boost trade ties and facilitate economic cooperation along the ancient Silk Road. With China as the starting point, the Silk Road Economic Belt and the 21st Century Maritime Silk Road will stretch to Eastern Europe, Central and South Asia and the coast of Africa. Hong Kong is a relatively small economy by international standards, Leung said, but it is well-positioned as “an indispensable player in the global economy as well as in the national development of China”. “The international landscape is changing fast,” added Leung. “To stay relevant, to remain competitive, Hong Kong must also adapt.” Zhou Li, publisher and editor-in-chief of China Daily Asia Pacific, said the Belt and Road strategy holds great promise for Hong Kong “both in terms of its own economic growth and its ability to contribute to the prosperity of China and the region”. “Hong Kong has everything going for this opportunity, but now it is the moment to reconsider how we can maximize the benefits of these opportunities,” he added. Speaking in the United States last month, Xi said the aim of the initiative is to drive economic development throughout the region. YK Pang, chairman of the Hong Kong General Chamber of Commerce, said at the roundtable event that the Belt and Road Initiative will present new prospects for Hong Kong’s business community and for its people. “We need to get ourselves prepared and ready to participate,” Pang said. “Our expertise in trade and logistics, financial services, professional services as well as tourism, hospitality and retail can play an important role in supporting China’s grand plan.” The challenge for Hong Kong is that its competitiveness is being undermined. “We have to hone our competitive edge and compete to secure opportunities,” Pang added. Hong Kong’s strengths lie in the finance sector with its stock market being the seventh largest in the world and its world-class fundraising facilities. Other advantages include its trade facilities, yuan trade and Islamic finance facilities, asset and risk management, insurance services and logistics. The city’s technology and creative sectors are also important for the Belt and Road countries. “Opportunities are abundant,” said Chow Chung-kong, chairman of Hong Kong Exchanges and Clearing. “However, they are not going to be served to us on a silver plate. We have to work hard for them. “Our biggest advantage … is the fact that we are part of China,” said Chow. “To make the One Belt, One Road (strategy) succeed, the commercial sectors must get involved.” The Belt and Road Initiative, particularly the Maritime Silk Road, will link together the many developing economies likely to produce the next group of consumers for the world. Victor Fung Kwok-king, chairman of the Fung Group, a Hong Kong-based multinational which comprises operating groups engaging in trading, logistics, distribution and retailing, said: “We have to learn to deal with large numbers of small and medium-sized enterprises.” “It is not so much B2B but B2-small-b,” he said, referring to business-to-business companies. “We need to use a lot of technology, a lot of innovation, and come up with new business models,” Fung added. “If we grab that opportunity and do it quickly, we will be leading the world in the orchestration of the new supply chains.” Hong Kong companies, including its small and medium enterprises (SMEs), are well-positioned to profit from Hong Kong’s role in the Belt and Road Initiative. “It is a scheme that will change the world if it is successfully implemented,” said Vincent Lo Hong-sui, chairman of the Hong Kong Trade Development Council. “This is a once in a lifetime opportunity.” For the next year, the theme for the trade development council will be the Belt and Road, with a series of projects aimed at promoting the initiative and providing information. Added Fung: “What we really need to do is push the whole concept of innovation. But when people talk about innovation, they identify it almost purely with technology.” Fung said that innovative thought should be applied to creating new business models. “What is happening on the Silk Road is a huge catalyst and opportunity for our young people.” This can give entrepreneurs and businesspeople a focal point by tapping into the markets for the next generation, with 3.5 billion new consumers along the Belt and Road. “That will be our next generation of entrepreneurs. That will be our next generation of SMEs,” said Fung. “That will give us the next generation of forward thrust for Hong Kong.” As this happens, however, it will be important to ensure that the benefits of the Belt and Road Initiative flow in two directions. Lincoln Leong Kwok-kuen, CEO of the MTR Corporation, the company running the city’s mass transit railway, asked: “How do you bring people into Hong Kong?” “How do we reach out and how do we add value to those countries and for those countries along the Belt and Road?” he added. “It is a two-way flow.” New business models are likely to be a powerful driver of growth. “We now live in a world that is highly specialized,” said Chief Executive Leung. For example, Hong Kong may not have a lot of expertise building railways but it does have great expertise putting those railways to the best and most profitable use possible. It is the kind of expertise that Hong Kong has long exported to the world. Fung pointed out how the overland Silk Road is likely to drive a rising trade in commodities. The Maritime Silk Road, he added, is a key conduit for high-end products, many of which include technology and services. “I see the Maritime Silk Road as the conduit for distribution of a lot of the products that originate in China, and of course in the region, and over to other parts of the Silk Road,” said Fung. “That really plays into one of the roles that Hong Kong has always played, which is as a global supply-chain manager to orchestrate the movement of these goods. “Every time there is an important change in the region, Hong Kong has played a major role,” said Fung. A lot of companies are positive about the opportunities that the Belt and Road Initiative will create, said Pang of the chamber of commerce. “This is China coming onto the world stage and really leading a world-changing initiative to accelerate the development of those countries in the Belt and Road,” he said. There are more than 60 economies along the Belt and Road and they can provide a huge opportunity. “We need to have a more complete and institutional framework with our prospective partners,” said Leung. “We need to complete the rest of the planning along with the rest of the country.” “We need to deepen our knowledge of the Belt and Road economies,” he said. “We need to read up more. We need to meet up more.” Source: http://www.chinadailyasia.com/2015-11/06/content_15340922.html
2015-11-06“Hong Kong’s role as a ‘super connector’ can help bring China and the world closer together,” said YK Pang, chairman of the Hong Kong General Chamber of Commerce, speaking at the China Daily Asia Leadership Roundtable in Hong Kong on Oct 29. Hong Kong is the premier offshore yuan clearing hub and asset management center in Asia, with $377 billion in Chinese outward investment stock, making it a key channel. Leung Chun-ying, Hong Kong’s chief executive, said: “Our success has been powered by the twin engines of China and the world: By our ‘one country, two systems’ arrangement and the deepening economic integration it has won us, and by our strong connections with the rest of the world. “In both cases, by the super-connector role we play for them,” he added. Hong Kong’s economy is regularly recognized as the freest in the world, boasting businesses and organizations with global networks, which suits the goals of the Belt and Road Initiative, a development strategy proposed by President Xi Jinping in 2013. The initiative revolves around the Silk Road Economic Belt, which will link China with Europe via Central and West Asia, and the 21st Century Maritime Silk Road, which runs from southern China to Southeast Asia, South Asia, Africa and Europe. “If we leverage our social capital, we will be the best placed Chinese city to contribute to the Belt and Road Initiative, certainly in people-to-people bonds,” Leung said. “We can turn Hong Kong into a platform of facilitating understanding.” Hong Kong participates in both the Asia-Pacific Economic Cooperation and the World Trade Organization as an individual member economy. “More than a city of China, Hong Kong maintains a reputable standing … in the international arena, and that sets us apart from other cities in the mainland and overseas,” said Leung. “And that is how we can unleash the tremendous potential of the Belt and Road.” Chow Chung-kong, chairman of Hong Kong Exchanges and Clearing, said: “Hong Kong is the most efficient financial center in the region. “Hong Kong is well situated to play a role — either from the simple bank loans or syndicate loans from Hong Kong-based banks to bond issuance, either in international currency or yuan, to equity raising, which Hong Kong has been very good at for many years.”Although the special administrative region is not part of the biggest economic or political clusters in the Asian region — such as the Association of Southeast Asian Nations or the Shanghai Cooperation Organisation — being part of China gives the city backing and strength. “One role that Hong Kong has always played is really as a global supply chain manager orchestrating a lot of flows,” said Victor Fung Kwok-king, chairman of the Fung Group, a multinational company headquartered in the city. Three decades ago, much of the world’s consumption was in the West, with goods made in the East. That flow is now changing. “There is going to be a rise of the new middle class in the developing economies and global consumption will shift … in terms of proportion to the developing countries,” said Fung. “And in those developing countries we are going to get a new consumer class … for the world.” The challenge for Hong Kong will be to tap into new markets and orchestrate the supply chains as it acts as a so-called super connector for this new consumer class. Organizations such as the Hong Kong Trade Development Council (HKTDC) have been working to find their niche as super connectors for the Belt and Road. “We should become the hub for the Belt and Road. The first thing to start is how to provide the information,” said Vincent Lo Hong-sui, chairman of the HKTDC, which is planning to launch an information website for the initiative. Hong Kong’s pool of knowledge puts it in an ideal position to provide super connectivity within and among countries participating in the Belt and Road strategy, said Lincoln Leong Kwok-kuen, CEO of the MTR Corporation, which manages the city’s transport infrastructure. “To me it is the connectivity, the super connection and the business model that are so critical,” said Leong. Connectivity is a key theme behind Hong Kong’s development. The city’s airport, for example, has more than 1,000 flights daily linking the city with the rest of the region and much of the world. About 80 percent of the people living along the Belt and Road are within a five-hour flight from Hong Kong. “Beijing doesn’t have that proximity to people within the Maritime Silk Road, and neither does Shanghai,” said Pang of the chamber of commerce. “But we in Hong Kong have that proximity. And we cannot underestimate the ability to connect so quickly with all these people.” He added that as investment goes into these countries, there will be “trickle-down” benefits into their economies. “Hong Kong SMEs (small and medium-sized enterprises) will be able to tap into the construction money that becomes available in these countries as the trickle-down from construction from the government reaches the pockets of the people of those countries.” Source: http://www.chinadailyasia.com/2015-11/06/content_15340923.html
2015-11-06Hong Kong is well positioned to bridge the existing funding gap in the Silk Road Economic Belt and the “21st Century Maritime Silk Road project — the “Belt and Road” initiative — says Hong Kong Exchanges and Clearing Ltd Chairman Chow Chung-kong. The city is both trusted by mainland enterprises and international companies, he told China Daily. Speaking on the sidelines of the China Daily Asia Leadership Roundtable on Thursday, the city’s bourse chairman reckoned Hong Kong was in a good position to meet funding requirements related to the “Belt and Road” initiative. “Although various financial institutions have been set up for the ‘Belt and Road’ initiative, such as the Asian Infrastructure Investment Bank, the Silk Road Fund and the New Development Bank, these organizations alone are not adequate to provide sufficient funding … if the ‘Belt and Road’ initiative is to reach its full potential,” Chow said. He said commercial-sector engagement and smart money in the capital market must be involved. Chow suggested Hong Kong can play a variety of funding roles related to the “Belt and Road” initiative. Hong Kong-based banks can facilitate funding related to “Belt and Road” projects through bank loans, syndicated loans and project financing. As a major center for generating capital for mainland firms as well as international companies for many years, Hong Kong can also play a role in bond issuances and equity financing, he said. In Chow’s view, Hong Kong is the most efficient and international financial center in Asia. The city was best-equipped to play a role in international financial transactions related to the “Belt and Road” initiative, being a convenient and trusted location by all concerned parties, he pointed out. “Mainland enterprises trust us because we are part of China; international conglomerates also trust us because of our rule of law tradition and clear world-class regulatory practices,” he added. The “Belt and Road” can also help accelerate yuan internationalization. Hong Kong possesses the greatest pool of renminbi which will be the currency commonly used in “Belt and Road”. In the context of the “Belt and Road” initiative, various market connection measures launched recently — the London-Hong Kong Connect announced in October, the Shanghai-Hong Kong Stock Connect launched last year and the proposed Shenzhen-Hong Kong Stock Connect — will expand the ambit of the renminbi from a trading currency to functioning as a capital account currency as well, Chow said. Source: http://www.chinadailyasia.com/2015-10/30/content_15337046.html
2015-10-30China’s “Belt and Road” initiative offers once-in-a-lifetime opportunities for various business sectors in Hong Kong SAR, and will strengthen the city’s traditional role as the “super connector” and global financial hub, while driving growth for next-generation businesses, panelists told the China Daily Asia Leadership Roundtable on Thursday. Such opportunities are for countries along the “Belt and Road” to pursue, and all shareholders must strive to explore the potential available, they urged. Chief Executive Leung Chun-ying, in a keynote address to the roundtable forum, themed “Hong Kong Unleashing the Potential of ‘Belt and Road’ Initiative”, said Hong Kong will be the best placed Chinese city to contribute to the “Belt and Road” initiative if the SAR can lift its social capital. “More than a city of China, Hong Kong maintains a reputable standing and valuable connections in the international arena,” he told the forum, jointly organized by China Daily and the Hong Kong General Chamber of Commerce (HKGCC). “That sets us apart from other cities on the mainland and overseas. That’s how we can unleash the tremendous potential of the ‘Belt and Road’ initiative. “The ‘Belt and Road’ will help power the future for the Chinese mainland, for over 60 economies along the link and for Hong Kong. All of us can take part in this once-in-a-lifetime journey if we seize the opportunity today,” Leung said. Launched by President Xi Jinping in 2013, the “Belt and Road” strategy aims to boost trade ties and facilitate economic cooperation among 65 economies along the ancient silk route. With China as the starting point, the Silk Road Economic Belt and the 21st Century Maritime Silk Road will stretch to Eastern Europe, Central and South Asia, as well as the east coast of Africa. In welcoming remarks, Zhou Li, publisher and editor-in-chief of China Daily Asia Pacific, told the conference: “At a time of general slowdown in markets worldwide, forging and renewing trade ties between different economies is the only way forward. This is also a moment of stocktaking and introspection — a moment to assess the strategic importance of our place in the program.” “The ‘Belt and Road’ initiative holds great promise for Hong Kong, both in terms of its own growth as a major economic force, as well as in its ability to contribute to the economic prosperity of China,” Zhou said. HKGCC Chairman Y.K. Pang called the “Belt and Road” initiative a “game changer” for many countries. Supporting growth “They don’t necessarily have enough money, resources, manpower or expertise to lift their development to the next level. But China, through the initiative, will support and accelerate growth of those countries, much faster than what would be organically possible. Our members are very excited to be part of something bigger — to change the livelihood of people in the ‘Belt and Road’ regions,” he said. “Hong Kong has a major role to play in the initiative. We have the proximity that Beijing and Shanghai don’t,” Pang stressed, adding that 80 percent of the ‘Belt and Road’ countries are within a five-hour flight from Hong Kong. “Even not in infrastructure, engineering or finance, Hong Kong companies will be able to tap into the consumption money in ‘Belt and Road’ economies, as investments would trickle down from these sectors.” Chow Chung-kong, chairman of Hong Kong Exchanges and Clearing Ltd, told the gathering that the initiative is “a real driver of economic growth”. “More than just the redistribution of wealth, it’s the engine to create new economic dynamics. Hong Kong can facilitate such economic activities and benefit from them.” He said the existing funding is not enough to fund the goals of the initiative. “To make the ‘Belt and Road’ succeed, the commercial sector must get involved. Unless the ‘smart money’ is invested in sensible and profitable projects, the initiative will not achieve its full potential. Fundraising is where Hong Kong can play a key role, either through simple syndicated loans, bond issuance or in the equity market.” However, Chow warned that “opportunities are not served on a silver plate”. “Until we can build up knowledge of the economies along the routes and the sectors that require investment, we cannot fully explore the opportunities.” Tackling new markets Victor Fung Kwok-king, chairman of Fung Group, said the “Belt and Road” initiative will further lift Hong Kong’s traditional position as the world’s “super-connector” and help the city seize emerging market opportunities. “Looking forward for 30 years, the global consumption pattern is shifting rapidly. In developing countries arise the new middle class. The ‘Belt and Road’ is a linkage and a handle to tackle these new markets,” he said. Lincoln Leong Kwok-kuen, chief executive officer of MTR Corporation Ltd (MTRC), said: “Super connectivity is bridging culture divide, taking Hong Kong to work with companies on the mainland, outside of Hong Kong and mainland domain.” In terms of a new business model, he said it needs to be not just relevant, but also highly competitive in the “Belt and Road” countries. “One of the things we have been spearheading at MTRC is the business model in Hong Kong, which many countries try to replicate,” Leong said. “We incorporate property and infrastructure development and take external profits from the property and internalize it to help finance infrastructure development.” To connect the 65 countries with different cultures, legal systems and ways of doing things along the linkage, Vincent Lo Hong-shui, chairman of the Hong Kong Trade Development Council (HKTDC), said Hong Kong should become the hub for the “Belt and Road”. To start with, he said the HKTDC will launch a “Belt and Road” website in the near future to provide all information on the 65 countries. “Hopefully, we can identify investment opportunities and integrate them so that the world can get involved, because this is not a project China or any one company can take on its own.”
2015-10-30Vincent Lo Hong-sui, chairman of the Hong Kong Trade Development Council (HKTDC), urged small and medium-sized enterprises (SMEs) in Hong Kong to seize the new business opportunities the “Belt and Road” initiative is likely to open up. With 65 economies located along the “Belt and Road”, there will be opportunities for big as well as SMEs, given investments will be on different scales, allowing small companies, particularly in developing economies, to opt for smaller projects, Lo told China Daily. “Right now, Hong Kong is more service-oriented, so we should think about how we can facilitate investments from the Chinese mainland going into countries related to the ‘Belt and Road’, so that we can provide a supporting role, with our professional services, lawyers, accountants and investment banks,” he said. Lo felt Hong Kong would do well to focus on fundraising and organizing related activities, given the city’s status as Asia’s financial center. Meanwhile, Hong Kong investors can also team up with those from the mainland to go into the “Belt and Road”, said Lo. He added that most of the outbound investment will be focused on infrastructure projects to start with, triggering a demand for substantial funding and expertise in the field. While most manufacturing industries in Hong Kong had shifted their operations to the Pearl River Delta in the 1980s, a lot of them are considering relocating again because of the sharp increase in overheads. Lo suggested relocating to “Belt and Road” countries as these might be able to offer labor and infrastructure at competitive prices. He said that the HKTDC, a semi-government-sponsored organization, is expected to play a very strong role here, especially in terms of identifying opportunities and promoting these across the world. The HKTDC has organized trade shows, exhibitions, conferences as well as business matching arrangement, and will continue to do the same to promote the “Belt and Road” initiative, Lo said, adding that he has invited SMEs to participate in such expositions so as to identify the opportunities. “We will soon launch an information portal online containing all information related to the ‘Belt and Road’ initiative, the policies, the investment opportunities in the economies related to ‘Belt and Road’, and it will be a good way to help SMEs understand the initiatives,” he added. Source: http://www.chinadailyasia.com/2015-10/30/content_15337045.html
2015-10-30The “Belt and Road” initiative is expected to create a “big trickle-down effect” in regions along the routes, as demand for all sorts of goods and services from a wide spectrum of business will rise significantly, according to Y.K. Pang, chairman of the Hong Kong General Chamber of Commerce (HKGCC). The building industry will be the first to benefit from the vast opportunities arising from the initiative, raised by President Xi Jinping in 2013, Pang told China Daily in an exclusive interview on Thursday. Other services, involving the finance, accounting, legal and information-technology fields, will come around accordingly, he said. “As money is invested in those countries (along the ‘Belt and Road’), there’ll be plenty of demand for various things, for example, goods, supplies, retail services and even the need to entertain the people in those countries as their living conditions improve. There will be a big trickle-down effect because when money is invested in any location for any kind of business, it will spread across the whole society,” Pang said. Not only will big companies gain from the initiative, small and medium-sized enterprises (SMEs) are also set to benefit. The HKGCC chief reckons there’ll be a lot of design and technological work to do, citing the need to create new apps, portals and platforms. “These are things not only for large corporations, but also for SMEs.” Hong Kong SMEs will benefit too as money derived from infrastructure development will reach the pockets of ordinary citizens in those regions, thereby enhancing their consumption capability, Pang said. To better participate in the national strategy, Pang said the SAR needs to have a deeper understanding of the culture, geography and business environment of countries in the regions, and offer more training to Hong Kong people to help them adapt to and work in those economies. Hong Kong people may know markets on the Chinese mainland or in Singapore well enough, but as far as Cambodia, Vietnam or Sri Lanka are concerned, they do require better knowledge of them, Pang pointed out. “We need to understand how to fit in our efforts with the needs of markets in those areas. This is the only way for us to carry out the project successfully and make it a game-changing initiative.” Pang also called for greater cooperation with the mainland on various matters to reduce the risks associated with investments in the “Belt and Road” regions, such as how to work under different legal and accounting frameworks, the labor supply and the quality of labor for the projects involved. Source: http://www.chinadailyasia.com/2015-10/30/content_15337069.html
2015-10-30For Immediate Release PRESS RELEASE China Daily Forum on "Belt and Road" Era Potential "Hong Kong Unleashing the Potential of ‘Belt and Road Initiative'" Oct 29 2015, Hong Kong –China Daily Asia Leadership Roundtable held a luncheon on: Hong Kong Unleashing the Potential of Belt and Road Initiative with a keynote address by The Honourable C Y Leung, Chief Executive, Hong Kong Special Administrative Region between 11.30 am and 2.15 pm on Thursday, October 29, 2015 at Grand Ballroom, Grand Hyatt Hong Kong. Hong Kong, as an international financial capital, has the experience, expertise and the connections to serve as the “Super Connector” for the Belt and Road Initiative, China’s strategic initiative connecting 60 percent of the world’s population which accounts for 30 percent of the global GDP. What are the opportunities and challenges for Hong Kong in the “Belt and Road” era? What are the implications for the major business sectors in Hong Kong? Co-organized with the Hong Kong General Chamber of Commerce, and supported by Hong Kong Economic Journal and Bloomberg Business Week, China Daily is delighted to have The Honourable C Y Leung, Chief Executive of Hong Kong Special Administrative Region tonot only publish a signed articleon China Daily Hong Kong edition, but also deliver a keynote addresson “Hong Kong Unleashing the Potential of the Belt and Road Initiative”. “I believe our strength has been the ability to establish ourselves as an indispensable player in the global economy as well as the national development of China.” Said the Chief Executive. After his keynote speech, C Y Leung joined with Mr. C K Chow, Chairman, Hong Kong Exchanges and Clearing Ltd; Dr. Victor K. Fung, Group Chairman, Fung Group & Chairman, Advisory Board of Asia Global Institute; Mr. Lincoln Kwok Kuen Leong, Chief Executive Officer, MTR Corporation Ltd; Mr. Vincent H S Lo, Chairman, Hong Kong Trade Development Council and Mr. Y K Pang, Chairman, Hong Kong General Chamber of Commerce for an open panel to share their insights of Hong Kong’s development in the “Belt and Road” era. Mr. Zhou Li, Editorial Board Member, China Daily Group and Publisher & Editor-in-Chief, China Daily Asia Pacificdeliveredthe welcoming speech to demonstrate China Daily’s continuous effort in covering the strategic initiative, and relateddevelopment of Hong Kong and Asia. Mr. Lincoln Kwok Kuen Leong thinks the “Belt and Road”is bridging culture divide, taking Hong Kong to work with companies in the Chinese mainland, outside of Hong Kong and Chinese mainland domain; whileDr. Victor K. Fungis convinced that “every time there is a major change in China and the region, HK plays a significant role and we can always step up to the task.” Mr. C K Chow emphasized Hong Kong’s unique role in the great blueprint: “Hong Kong is part of China under ‘One Country Two Systems’ and that is where we will stand to compete and win.”Similarly, Mr. Vincent H S Lo sees “Belt and Road” as a golden chance for Hong Kong as long asthe city can restructure its economy and provide more opportunities for younger generation. Mr. Y K Pang believes there is a role to play in the “Belt and Road” initiative not only for large corporations, but also for small and medium-sized enterprises, as there will be a lot of work for them to do, like design, creating new apps, portals and platforms, etc. The Roundtable event attracted over 200 government officials, consul generals, and industry elites from local and abroad. ### About China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia providing platforms for focused dialogue, issue investigation, and possible collective action on strategic issues relating to economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia. (www.cdroundtable.com)
2015-10-29中国日报香港11月18日电(记者 周君君、柴华、周沫)中国日报今日在香港举办题为“一带一路,贸易投资新策略”的专题研讨会,深入探讨亚洲贸易及投资业在“一带一路”建设中的发展前景,吸引逾二百位业界精英人士参与。 中国日报是本港唯一连续两年与亚洲物流与航运会议合作的媒体。本次研讨会邀请到的演讲嘉宾有恒生银行有限公司执行董事兼环球银行及资本市场业务主管冯孝忠先生;香港理工大学中国商业中心主任陈文鸿博士;马尔代夫美佳航空公司商务总裁鲍迅捷先生及前海管理局香港事务首席联络官洪为民博士。 中国于2013年提出的“一带一路”战略,惠及60多个国家,为全球逾40亿人口带来深远影响。迄今为止,中国与“一带一路”周边国家签署的自由贸易项目总投资额超过2500亿美元,涉及基建、能源、运输等诸多领域,逐步形成一个经济带。 随着亚洲区域内基础设施建设及自由贸易持续增长,“一带一路”战略将进一步激发沿线国家及地区的发展潜能,消除贸易壁垒,促进区域经济联通。公营及私营机构需紧密合作,促进亚洲物流及航运业的长远发展。 香港作为全球最大的航空港,亦是珠三角地区重要空运枢纽,在“一带一路”建设中担当中国和世界的“超级联系人”。香港特别行政区行政长官梁振英在最近出访英国伦敦时表示,香港正积极与东盟十国洽谈自贸协议。 11月18日,中国日报于亚洲物流及航运会议举办题为“‘一带一路’贸易投资新策略”的专题研讨会,吸引逾二百位业界精英人士参与。图为论坛现场。(中国日报 郑尔奇摄) 恒生银行有限公司执行董事兼环球银行及资本市场业务主管冯孝忠先生阐述了四个业内外非常关注的有关“一带一路”的议题,包括“一带一路”与基建项目的发展前景等。他表示从短期来看,租赁和设备融资的需求将不断上升;但是在今后航运及航空方面的需求也会逐渐复兴。 香港理工大学中国商业中心主任陈文鸿博士系统解释阐述了“一带一路”的发展模式和前景,他认为,香港将会是中国内地与“一带一路”沿线国家的重要聚焦地,香港应抓住这一发展机遇。他强调,香港除了看向英国和欧洲的传统发展模式外,更应该与“一带一路”沿线国家多交流多沟通。 马尔代夫美佳航空公司商务总裁鲍迅捷先生表示南亚国家对“一带一路”发展非常感兴趣,香港作为重要的桥梁之地,应该发挥其关键的航空港作用。 前海管理局香港事务首席联络官洪为民博士指出香港的“超级联系人”角色非常重要,前海作为中国内地新兴发展自贸区,将会与香港一同构建贸易发展的新模式。 中国日报亚洲领袖圆桌论坛(www.cdroundtable.com)是一个由亚洲国家和地区的政、商、学界领袖和社会精英参与的高端对话和交流平台,围绕亚洲地区经济、商业、产业和社会发展等具有战略影响的重要议题展开讨论,至今在港、澳和亚太多国已经举办了40余届,逾万名决策精英参与。 (编辑:高晴)
2015-11-20Hong Kong is poised to play a role in offshore yuan financing, institutional intermediation, legal arbitration and other professional services provision to facilitate the Belt and Road Initiative, the China Daily Asia Leadership Roundtable heard on Wednesday. However, the city must learn fast, and the government needs to do much more than its competitors, in view of the Belt and Road Initiative which promises to be a game-changer, panelists at a forum said. The roundtable forum, themed “Belt and Road Initiative: Implications and Opportunities for Trade and Investments” — held as part of the Asian Logistics and Maritime Conference — took place on Nov 17 and 18. Various panelists from the banking, academic, aviation and regulatory sectors examined the opportunities and challenges ahead for Hong Kong. Proposed by President Xi Jinping in 2013, the Belt and Road Initiative is the national strategy that aims to enhance connectivity for 4.4 billion people from more than 60 economies with a gross economic volume of around $22 trillion. Since its announcement, more than $250 billion worth of infrastructure projects have been contracted. “Banks in Hong Kong need to revitalize the old-fashioned businesses, such as maritime cargo insurance, shipping finance and aircraft leasing, to capture businesses with more opportunities. The Belt and Road Initiative also involves Islamic financing and, luckily, the city has started this business, otherwise, we may be out of the game,” said Andrew Fung Hau-chung, executive director and head of global banking and markets at Hang Seng Bank. The world’s largest offshore yuan liquidity is also a niche area banks in Hong Kong can leverage on, Fung said. “It provides new opportunities for banks in Hong Kong to use the yuan for the liability. Hong Kong is lucky in this regard.” Academicians highlighted Hong Kong’s role in institutional intermediation and legal arbitration, besides financing. “Many Russian business firms have already come to Hong Kong to take advantage of the city’s deep connections and institutional framework,” said Thomas Chan Man-hung, head of the China Business Centre at Hong Kong Polytechnic University. Mega Maldives Airlines Chief Commercial Officer Sandeep Bahl noted that aviation will provide an important connector to achieve people-to-people bond and cultural exchanges advocated by the Belt and Road Initiative. “Once we have people-to-people and cultural exchanges, these things will grow and then we have super-connection within five hours anywhere you go from Hong Kong and this may even get down to two-and-a-half hours,” Bahl told delegates at the roundtable. “The Belt and Road Initiative helps mainland enterprises’ capital and production capacity to go out, but these firms do not know much about foreign markets. Hong Kong can offer professional services in mergers and acquisitions, as well as financing and legal expertise, to help mainland companies go out,” Shenzhen Qianhai Authority’s Principal Liaison Officer for Hong Kong Affairs Witman Hung Wai-man noted. However, Hong Kong also faces various challenges ahead under the Belt and Road Initiative. “Hong Kong’s challenges lie in learning and re-engineering, that is to acquire new languages, knowledge and capabilities for non-Anglo-Saxon practices and civilizations, so that Hong Kong can upgrade local knowledge to provide intensive services by becoming an open platform for firms and talents from the Eurasian and South Asian countries,” Chan cautioned. Hong Kong should learn from London, Chan said. “See how London resurges to become the top financing center since 1950. We must take a holistic approach on how to improve our services,” he envisaged. People have to look at tax treaty/tax treatment regarding cross-border leasing activities, according to Fung. “We are left behind it,” he said. Hung said it was not enough for Hong Kong to just play “super-connector”. “In the Internet age, the business value decreases if we are only the intermediary. Hong Kong has to provide additional services related to various initiatives,” he added. Contact the writer at oswald@chinadailyhk.com Source: http://www.chinadailyasia.com/2015-11/20/content_15347311.html
2015-11-20Hong Kong is in an advantageous position to provide financial support to enterprises trying to expand their business in countries that come within the ambit of the Belt and Road Initiative, said Andrew Fung Hau-chung, executive director and head of global banking and markets at Hang Seng Bank. With more than 60 countries and economies covered by the initiative, many businesses will require cross-border financing. “Hong Kong has a very good presence of international banks. Most of the large international banks have branches in Hong Kong,” Fung told China Daily in an exclusive interview. “Therefore, it is a good financing hub for making cross-border financing, (either) from the mainland to Central Asia or from the mainland to ASEAN,” said Fung. While Fung believes that banks in Hong Kong have already been offering comprehensive financial services to enterprises, he stressed that they still need to strengthen their services, as the Belt and Road Initiative and renminbi internationalization will create more demand for renminbi-based financing. “If customers start to use more renminbi in trade, then banks have to strengthen their capacity. For example, in the payment system, banks probably need to join the Cross-border Interbank Payment System for making payments because, in the past, most of the payments were made in either US dollars or euro.” Meanwhile, the SAR is facing increasing competition from mainland cities and other international financial centers such as London and Singapore, despite being the largest offshore renminbi center, Fung pointed out. Hong Kong used to be the only financial center, he noted, but now it has to compete with several others for a bigger slice of the cake. But he insisted that the Belt and Road Initiative will bring more benefits to Hong Kong as the demand for cross-border loans rises, with the SAR having an edge. Fung expects to see growing demand for equipment financing in the short term, followed by the revival of shipping and aircraft leasing in the medium term. Hong Kong used to be a big center for aircraft financing, said Fung, but the absence of tax treaties has led to a sharp drop in its competitiveness in the past few years. “Many countries have brought about tax reforms that make Hong Kong less competitive. So, we have to see if we could introduce some tax reforms that encourage cross-border leasing.” He urged the SAR government to play a bigger role by reviewing tax treatment for cross-border leasing to support the Belt and Road Initiative in the aspect of financing. sally@chinadailyhk.com Source:http://www.chinadailyasia.com/2015-11/20/content_15347318.html
2015-11-20For Immediate Release PRESS RELEASE Pundits explore opportunities for Asia under ‘Belt and Road Initiative’ Nov 18, 2015, Hong Kong -Business and finance industry leaders gathered in Hong Kong for a special forum organized by China Daily to discuss the implications, as well as the opportunities for Asia’s trade and investment sectors created by the China-led “Belt and Road Initiative”. The forum, themed “Belt and Road Initiative”: Implications and Opportunities for Trade and Investments”, was held at the Hong Kong Convention and Exhibition Centre on Wednesday, November 18, 2015, in conjunction with the Asian Logistics and Maritime Conference (ALMC), which was attended by more than 300 delegates from across the continent’s trade, finance and logistics industries. China Daily has been the only media in Hong Kong that has co-organized similar dialogue sessions with ALMC for two consecutive years. The “Belt and Road Initiative”, first mooted by President Xi Jinping in 2013, aims to enhance connectivity for 4.4 billion people from more than 60 countries. Since the announcement of the “Belt and Road Initiative”, a string of free trade agreements have been signed between China and countries and regions along the “Belt and Road” routes, involving more than US$250 billion worth of projects, ranging from railways to power plants. During a recent visit to London, The Honourable C Y Leung, Chief Executive, Hong Kong Special Administrative Region, said Hong Kong is in talks with all the 10 member states of the Association of Southeast Asian Nations (ASEAN) on a free trade agreement. Infrastructure development will also play a crucial role in removing barriers to trade among various countries, while Hong Kong, which is home to the world’s number one air-cargo hub, is concerned about airspace management in the Pearl River Delta region. With increased infrastructure construction and more free trade pacts on the way, the “Belt and Road initiative” will help to dismantle trade and investment barriers and enhance connectivity among nations along the routes. Public and private business sectors should work closely together to capitalize on these opportunities for their continued growth. The distinguished panelists at the China Daily forum included Mr. Andrew FUNG, JP, Executive Director and Head of Global Banking and Markets, Hang Seng Bank; Dr. Thomas CHAN, Head of China Business Centre, Hong Kong Polytechnic University; Mr. Sandeep BAHL, Chief Commercial Officer, Mega Maldives Airlines; and Dr. Witman HUNG, JP, Principal Liaison Officer for Hong Kong, Shenzhen Qianhai Authority. Mr. Fung gave an insightful analysis of the future development of the “Belt and Road” initiative. “In the short term, leasing and equipment financing will see the biggest immediate demand. In the medium term, I would see a revival of the shipping and aircraft-leasing business,” he said. Dr. Chan stressed Hong Kong’s prominent role in the “Belt and Road” initiative, saying: “Hong Kong should learn to go beyond its traditional knowledge of the UK or Europe. It should look at and learn more about other emerging countries along the ‘Belt and Road’.” Mr. Bahl shared his valuable thoughts on the aviation industry: “South Asian countries have been very active in pushing the ‘Belt and Road’ initiative. The trade volume between China and the Maldives in past two years has tripled to US$200 million. The combined economies along the ‘Belt and Road’ represent a significant market not only for Hong Kong, but also all Asian countries,” he said. Dr. Hung said: “Hong Kong, being just a ‘super-connector’ is not enough. I think Hong Kong and the mainland together can help shape the new order and trading standards.” About China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia providing platforms for focused dialogue, issue investigation, and possible collective action on strategic issues relating to economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia. (www.cdroundtable.com)
2015-11-19新聞稿 即時發佈 各界領袖齊聚中國日報「一帶一路」論壇 共議亞洲貿易及投資界未來 (2015年11月18日香港) 中國日報今日舉辦題為「一帶一路,貿易投資新策略」的專題研討會,深入探討亞洲貿易及投資業在「一帶一路」建設中的發展前景,吸引逾二百位業界精英人士參與。 中國日報是本港唯一連續兩年與亞洲物流與航運會議合作的媒體。本次研討會邀請到的演講嘉賓有恆生銀行有限公司執行董事兼環球銀行及資本市場業務主管馮孝忠先生;香港理工大學中國商業中心主任陳文鴻博士;馬爾代夫美佳航空公司商務總裁鮑迅捷先生及前海管理局香港事務首席聯絡官洪為民博士。 中國於2013年提出的「一帶一路」戰略,惠及60多個國家,為全球逾40億人口帶來深遠影響。迄今為止,中國與「一帶一路」周邊國家簽署的自由貿易項目總投資額超過2500億美元,涉及基建、能源、運輸等諸多領域,逐步形成一個經濟帶。 隨著亞洲區域內基礎設施建設及自由貿易持續增長,「一帶一路」戰略將進一步激發沿線國家及地區的發展潛能,消除貿易壁壘,促進區域經濟聯通。公營及私營機構需緊密合作,促進亞洲物流及航運業的長遠發展。 香港作為全球最大的航空港,亦是珠三角地區重要空運樞紐,在「一帶一路」建設中擔當中國和世界的「超級連絡人」。香港特別行政區行政長官梁振英在最近出訪英國倫敦時表示,香港正積極與東盟十國洽談自貿協議。 恒生銀行有限公司執行董事兼環球銀行及資本市場業務主管馮孝忠先生闡述了四個業內外非常關注的有關「一帶一路」的議題,包括「一帶一路」與基建項目的發展前景等。他表示從短期來看,租賃和設備融資的需求將不斷上升;但是在今後航運及航空方面的需求也會逐漸復興。 香港理工大學中國商業中心主任陳文鴻博士系統解釋闡述了「一帶一路」的發展模式和前景,他認為,香港將會是中國內地與「一帶一路」沿線國家的重要聚焦地,香港應抓住這一發展機遇。他強調,香港除了看向英國和歐洲的傳統發展模式外,更應該與「一帶一路」沿線國家多交流多溝通。 馬爾代夫美佳航空公司商務總裁鮑迅捷先生表示南亞國家對「一帶一路」發展非常感興趣,香港作為重要的橋樑之地,應該發揮其關鍵的航空港作用。 前海管理局香港事務首席聯絡官洪為民博士指出香港的「超級連絡人」角色非常重要,前海作為中國內地新興發展自貿區,將會與香港一同構建貿易發展的新模式。 中國日報亞洲領袖圓桌論壇(www.cdroundtable.com)是一個由亞洲國家和地區的政、商、學界領袖和社會精英參與的高端對話和交流平臺,圍繞亞洲地區經濟、商業、產業和社會發展等具有戰略影響的重要議題展開討論,至今在港、澳和亞太多國已經舉辦了40餘屆,逾萬名決策精英參與。 --完—
2015-11-19Hong Kong, a world-class business center, is ideally positioned to benefit from China’s Belt and Road Initiative but only if it can leverage its traditional strengths and find its competitive edge.This was the underlying message of a panel of top-level speakers who joined Hong Kong Chief Executive Leung Chun-ying in Hong Kong on Oct 29 for a China Daily Asia Leadership Roundtable to consider how the special administrative region can unleash the potential of the Belt and Road Initiative. “For the country it is an unprecedented strategic vision, while the promise for Hong Kong is equally outsized,” said Leung. Proposed by President Xi Jinping in 2013, the Belt and Road Initiative aims to boost trade ties and facilitate economic cooperation along the ancient Silk Road. With China as the starting point, the Silk Road Economic Belt and the 21st Century Maritime Silk Road will stretch to Eastern Europe, Central and South Asia and the coast of Africa. Hong Kong is a relatively small economy by international standards, Leung said, but it is well-positioned as “an indispensable player in the global economy as well as in the national development of China”. “The international landscape is changing fast,” added Leung. “To stay relevant, to remain competitive, Hong Kong must also adapt.” Zhou Li, publisher and editor-in-chief of China Daily Asia Pacific, said the Belt and Road strategy holds great promise for Hong Kong “both in terms of its own economic growth and its ability to contribute to the prosperity of China and the region”. “Hong Kong has everything going for this opportunity, but now it is the moment to reconsider how we can maximize the benefits of these opportunities,” he added. Speaking in the United States last month, Xi said the aim of the initiative is to drive economic development throughout the region. YK Pang, chairman of the Hong Kong General Chamber of Commerce, said at the roundtable event that the Belt and Road Initiative will present new prospects for Hong Kong’s business community and for its people. “We need to get ourselves prepared and ready to participate,” Pang said. “Our expertise in trade and logistics, financial services, professional services as well as tourism, hospitality and retail can play an important role in supporting China’s grand plan.” The challenge for Hong Kong is that its competitiveness is being undermined. “We have to hone our competitive edge and compete to secure opportunities,” Pang added. Hong Kong’s strengths lie in the finance sector with its stock market being the seventh largest in the world and its world-class fundraising facilities. Other advantages include its trade facilities, yuan trade and Islamic finance facilities, asset and risk management, insurance services and logistics. The city’s technology and creative sectors are also important for the Belt and Road countries. “Opportunities are abundant,” said Chow Chung-kong, chairman of Hong Kong Exchanges and Clearing. “However, they are not going to be served to us on a silver plate. We have to work hard for them. “Our biggest advantage … is the fact that we are part of China,” said Chow. “To make the One Belt, One Road (strategy) succeed, the commercial sectors must get involved.” The Belt and Road Initiative, particularly the Maritime Silk Road, will link together the many developing economies likely to produce the next group of consumers for the world. Victor Fung Kwok-king, chairman of the Fung Group, a Hong Kong-based multinational which comprises operating groups engaging in trading, logistics, distribution and retailing, said: “We have to learn to deal with large numbers of small and medium-sized enterprises.” “It is not so much B2B but B2-small-b,” he said, referring to business-to-business companies. “We need to use a lot of technology, a lot of innovation, and come up with new business models,” Fung added. “If we grab that opportunity and do it quickly, we will be leading the world in the orchestration of the new supply chains.” Hong Kong companies, including its small and medium enterprises (SMEs), are well-positioned to profit from Hong Kong’s role in the Belt and Road Initiative. “It is a scheme that will change the world if it is successfully implemented,” said Vincent Lo Hong-sui, chairman of the Hong Kong Trade Development Council. “This is a once in a lifetime opportunity.” For the next year, the theme for the trade development council will be the Belt and Road, with a series of projects aimed at promoting the initiative and providing information. Added Fung: “What we really need to do is push the whole concept of innovation. But when people talk about innovation, they identify it almost purely with technology.” Fung said that innovative thought should be applied to creating new business models. “What is happening on the Silk Road is a huge catalyst and opportunity for our young people.” This can give entrepreneurs and businesspeople a focal point by tapping into the markets for the next generation, with 3.5 billion new consumers along the Belt and Road. “That will be our next generation of entrepreneurs. That will be our next generation of SMEs,” said Fung. “That will give us the next generation of forward thrust for Hong Kong.” As this happens, however, it will be important to ensure that the benefits of the Belt and Road Initiative flow in two directions. Lincoln Leong Kwok-kuen, CEO of the MTR Corporation, the company running the city’s mass transit railway, asked: “How do you bring people into Hong Kong?” “How do we reach out and how do we add value to those countries and for those countries along the Belt and Road?” he added. “It is a two-way flow.” New business models are likely to be a powerful driver of growth. “We now live in a world that is highly specialized,” said Chief Executive Leung. For example, Hong Kong may not have a lot of expertise building railways but it does have great expertise putting those railways to the best and most profitable use possible. It is the kind of expertise that Hong Kong has long exported to the world. Fung pointed out how the overland Silk Road is likely to drive a rising trade in commodities. The Maritime Silk Road, he added, is a key conduit for high-end products, many of which include technology and services. “I see the Maritime Silk Road as the conduit for distribution of a lot of the products that originate in China, and of course in the region, and over to other parts of the Silk Road,” said Fung. “That really plays into one of the roles that Hong Kong has always played, which is as a global supply-chain manager to orchestrate the movement of these goods. “Every time there is an important change in the region, Hong Kong has played a major role,” said Fung. A lot of companies are positive about the opportunities that the Belt and Road Initiative will create, said Pang of the chamber of commerce. “This is China coming onto the world stage and really leading a world-changing initiative to accelerate the development of those countries in the Belt and Road,” he said. There are more than 60 economies along the Belt and Road and they can provide a huge opportunity. “We need to have a more complete and institutional framework with our prospective partners,” said Leung. “We need to complete the rest of the planning along with the rest of the country.” “We need to deepen our knowledge of the Belt and Road economies,” he said. “We need to read up more. We need to meet up more.” Source: http://www.chinadailyasia.com/2015-11/06/content_15340922.html
2015-11-06“Hong Kong’s role as a ‘super connector’ can help bring China and the world closer together,” said YK Pang, chairman of the Hong Kong General Chamber of Commerce, speaking at the China Daily Asia Leadership Roundtable in Hong Kong on Oct 29. Hong Kong is the premier offshore yuan clearing hub and asset management center in Asia, with $377 billion in Chinese outward investment stock, making it a key channel. Leung Chun-ying, Hong Kong’s chief executive, said: “Our success has been powered by the twin engines of China and the world: By our ‘one country, two systems’ arrangement and the deepening economic integration it has won us, and by our strong connections with the rest of the world. “In both cases, by the super-connector role we play for them,” he added. Hong Kong’s economy is regularly recognized as the freest in the world, boasting businesses and organizations with global networks, which suits the goals of the Belt and Road Initiative, a development strategy proposed by President Xi Jinping in 2013. The initiative revolves around the Silk Road Economic Belt, which will link China with Europe via Central and West Asia, and the 21st Century Maritime Silk Road, which runs from southern China to Southeast Asia, South Asia, Africa and Europe. “If we leverage our social capital, we will be the best placed Chinese city to contribute to the Belt and Road Initiative, certainly in people-to-people bonds,” Leung said. “We can turn Hong Kong into a platform of facilitating understanding.” Hong Kong participates in both the Asia-Pacific Economic Cooperation and the World Trade Organization as an individual member economy. “More than a city of China, Hong Kong maintains a reputable standing … in the international arena, and that sets us apart from other cities in the mainland and overseas,” said Leung. “And that is how we can unleash the tremendous potential of the Belt and Road.” Chow Chung-kong, chairman of Hong Kong Exchanges and Clearing, said: “Hong Kong is the most efficient financial center in the region. “Hong Kong is well situated to play a role — either from the simple bank loans or syndicate loans from Hong Kong-based banks to bond issuance, either in international currency or yuan, to equity raising, which Hong Kong has been very good at for many years.”Although the special administrative region is not part of the biggest economic or political clusters in the Asian region — such as the Association of Southeast Asian Nations or the Shanghai Cooperation Organisation — being part of China gives the city backing and strength. “One role that Hong Kong has always played is really as a global supply chain manager orchestrating a lot of flows,” said Victor Fung Kwok-king, chairman of the Fung Group, a multinational company headquartered in the city. Three decades ago, much of the world’s consumption was in the West, with goods made in the East. That flow is now changing. “There is going to be a rise of the new middle class in the developing economies and global consumption will shift … in terms of proportion to the developing countries,” said Fung. “And in those developing countries we are going to get a new consumer class … for the world.” The challenge for Hong Kong will be to tap into new markets and orchestrate the supply chains as it acts as a so-called super connector for this new consumer class. Organizations such as the Hong Kong Trade Development Council (HKTDC) have been working to find their niche as super connectors for the Belt and Road. “We should become the hub for the Belt and Road. The first thing to start is how to provide the information,” said Vincent Lo Hong-sui, chairman of the HKTDC, which is planning to launch an information website for the initiative. Hong Kong’s pool of knowledge puts it in an ideal position to provide super connectivity within and among countries participating in the Belt and Road strategy, said Lincoln Leong Kwok-kuen, CEO of the MTR Corporation, which manages the city’s transport infrastructure. “To me it is the connectivity, the super connection and the business model that are so critical,” said Leong. Connectivity is a key theme behind Hong Kong’s development. The city’s airport, for example, has more than 1,000 flights daily linking the city with the rest of the region and much of the world. About 80 percent of the people living along the Belt and Road are within a five-hour flight from Hong Kong. “Beijing doesn’t have that proximity to people within the Maritime Silk Road, and neither does Shanghai,” said Pang of the chamber of commerce. “But we in Hong Kong have that proximity. And we cannot underestimate the ability to connect so quickly with all these people.” He added that as investment goes into these countries, there will be “trickle-down” benefits into their economies. “Hong Kong SMEs (small and medium-sized enterprises) will be able to tap into the construction money that becomes available in these countries as the trickle-down from construction from the government reaches the pockets of the people of those countries.” Source: http://www.chinadailyasia.com/2015-11/06/content_15340923.html
2015-11-06Hong Kong is well positioned to bridge the existing funding gap in the Silk Road Economic Belt and the “21st Century Maritime Silk Road project — the “Belt and Road” initiative — says Hong Kong Exchanges and Clearing Ltd Chairman Chow Chung-kong. The city is both trusted by mainland enterprises and international companies, he told China Daily. Speaking on the sidelines of the China Daily Asia Leadership Roundtable on Thursday, the city’s bourse chairman reckoned Hong Kong was in a good position to meet funding requirements related to the “Belt and Road” initiative. “Although various financial institutions have been set up for the ‘Belt and Road’ initiative, such as the Asian Infrastructure Investment Bank, the Silk Road Fund and the New Development Bank, these organizations alone are not adequate to provide sufficient funding … if the ‘Belt and Road’ initiative is to reach its full potential,” Chow said. He said commercial-sector engagement and smart money in the capital market must be involved. Chow suggested Hong Kong can play a variety of funding roles related to the “Belt and Road” initiative. Hong Kong-based banks can facilitate funding related to “Belt and Road” projects through bank loans, syndicated loans and project financing. As a major center for generating capital for mainland firms as well as international companies for many years, Hong Kong can also play a role in bond issuances and equity financing, he said. In Chow’s view, Hong Kong is the most efficient and international financial center in Asia. The city was best-equipped to play a role in international financial transactions related to the “Belt and Road” initiative, being a convenient and trusted location by all concerned parties, he pointed out. “Mainland enterprises trust us because we are part of China; international conglomerates also trust us because of our rule of law tradition and clear world-class regulatory practices,” he added. The “Belt and Road” can also help accelerate yuan internationalization. Hong Kong possesses the greatest pool of renminbi which will be the currency commonly used in “Belt and Road”. In the context of the “Belt and Road” initiative, various market connection measures launched recently — the London-Hong Kong Connect announced in October, the Shanghai-Hong Kong Stock Connect launched last year and the proposed Shenzhen-Hong Kong Stock Connect — will expand the ambit of the renminbi from a trading currency to functioning as a capital account currency as well, Chow said. Source: http://www.chinadailyasia.com/2015-10/30/content_15337046.html
2015-10-30China’s “Belt and Road” initiative offers once-in-a-lifetime opportunities for various business sectors in Hong Kong SAR, and will strengthen the city’s traditional role as the “super connector” and global financial hub, while driving growth for next-generation businesses, panelists told the China Daily Asia Leadership Roundtable on Thursday. Such opportunities are for countries along the “Belt and Road” to pursue, and all shareholders must strive to explore the potential available, they urged. Chief Executive Leung Chun-ying, in a keynote address to the roundtable forum, themed “Hong Kong Unleashing the Potential of ‘Belt and Road’ Initiative”, said Hong Kong will be the best placed Chinese city to contribute to the “Belt and Road” initiative if the SAR can lift its social capital. “More than a city of China, Hong Kong maintains a reputable standing and valuable connections in the international arena,” he told the forum, jointly organized by China Daily and the Hong Kong General Chamber of Commerce (HKGCC). “That sets us apart from other cities on the mainland and overseas. That’s how we can unleash the tremendous potential of the ‘Belt and Road’ initiative. “The ‘Belt and Road’ will help power the future for the Chinese mainland, for over 60 economies along the link and for Hong Kong. All of us can take part in this once-in-a-lifetime journey if we seize the opportunity today,” Leung said. Launched by President Xi Jinping in 2013, the “Belt and Road” strategy aims to boost trade ties and facilitate economic cooperation among 65 economies along the ancient silk route. With China as the starting point, the Silk Road Economic Belt and the 21st Century Maritime Silk Road will stretch to Eastern Europe, Central and South Asia, as well as the east coast of Africa. In welcoming remarks, Zhou Li, publisher and editor-in-chief of China Daily Asia Pacific, told the conference: “At a time of general slowdown in markets worldwide, forging and renewing trade ties between different economies is the only way forward. This is also a moment of stocktaking and introspection — a moment to assess the strategic importance of our place in the program.” “The ‘Belt and Road’ initiative holds great promise for Hong Kong, both in terms of its own growth as a major economic force, as well as in its ability to contribute to the economic prosperity of China,” Zhou said. HKGCC Chairman Y.K. Pang called the “Belt and Road” initiative a “game changer” for many countries. Supporting growth “They don’t necessarily have enough money, resources, manpower or expertise to lift their development to the next level. But China, through the initiative, will support and accelerate growth of those countries, much faster than what would be organically possible. Our members are very excited to be part of something bigger — to change the livelihood of people in the ‘Belt and Road’ regions,” he said. “Hong Kong has a major role to play in the initiative. We have the proximity that Beijing and Shanghai don’t,” Pang stressed, adding that 80 percent of the ‘Belt and Road’ countries are within a five-hour flight from Hong Kong. “Even not in infrastructure, engineering or finance, Hong Kong companies will be able to tap into the consumption money in ‘Belt and Road’ economies, as investments would trickle down from these sectors.” Chow Chung-kong, chairman of Hong Kong Exchanges and Clearing Ltd, told the gathering that the initiative is “a real driver of economic growth”. “More than just the redistribution of wealth, it’s the engine to create new economic dynamics. Hong Kong can facilitate such economic activities and benefit from them.” He said the existing funding is not enough to fund the goals of the initiative. “To make the ‘Belt and Road’ succeed, the commercial sector must get involved. Unless the ‘smart money’ is invested in sensible and profitable projects, the initiative will not achieve its full potential. Fundraising is where Hong Kong can play a key role, either through simple syndicated loans, bond issuance or in the equity market.” However, Chow warned that “opportunities are not served on a silver plate”. “Until we can build up knowledge of the economies along the routes and the sectors that require investment, we cannot fully explore the opportunities.” Tackling new markets Victor Fung Kwok-king, chairman of Fung Group, said the “Belt and Road” initiative will further lift Hong Kong’s traditional position as the world’s “super-connector” and help the city seize emerging market opportunities. “Looking forward for 30 years, the global consumption pattern is shifting rapidly. In developing countries arise the new middle class. The ‘Belt and Road’ is a linkage and a handle to tackle these new markets,” he said. Lincoln Leong Kwok-kuen, chief executive officer of MTR Corporation Ltd (MTRC), said: “Super connectivity is bridging culture divide, taking Hong Kong to work with companies on the mainland, outside of Hong Kong and mainland domain.” In terms of a new business model, he said it needs to be not just relevant, but also highly competitive in the “Belt and Road” countries. “One of the things we have been spearheading at MTRC is the business model in Hong Kong, which many countries try to replicate,” Leong said. “We incorporate property and infrastructure development and take external profits from the property and internalize it to help finance infrastructure development.” To connect the 65 countries with different cultures, legal systems and ways of doing things along the linkage, Vincent Lo Hong-shui, chairman of the Hong Kong Trade Development Council (HKTDC), said Hong Kong should become the hub for the “Belt and Road”. To start with, he said the HKTDC will launch a “Belt and Road” website in the near future to provide all information on the 65 countries. “Hopefully, we can identify investment opportunities and integrate them so that the world can get involved, because this is not a project China or any one company can take on its own.”
2015-10-30Vincent Lo Hong-sui, chairman of the Hong Kong Trade Development Council (HKTDC), urged small and medium-sized enterprises (SMEs) in Hong Kong to seize the new business opportunities the “Belt and Road” initiative is likely to open up. With 65 economies located along the “Belt and Road”, there will be opportunities for big as well as SMEs, given investments will be on different scales, allowing small companies, particularly in developing economies, to opt for smaller projects, Lo told China Daily. “Right now, Hong Kong is more service-oriented, so we should think about how we can facilitate investments from the Chinese mainland going into countries related to the ‘Belt and Road’, so that we can provide a supporting role, with our professional services, lawyers, accountants and investment banks,” he said. Lo felt Hong Kong would do well to focus on fundraising and organizing related activities, given the city’s status as Asia’s financial center. Meanwhile, Hong Kong investors can also team up with those from the mainland to go into the “Belt and Road”, said Lo. He added that most of the outbound investment will be focused on infrastructure projects to start with, triggering a demand for substantial funding and expertise in the field. While most manufacturing industries in Hong Kong had shifted their operations to the Pearl River Delta in the 1980s, a lot of them are considering relocating again because of the sharp increase in overheads. Lo suggested relocating to “Belt and Road” countries as these might be able to offer labor and infrastructure at competitive prices. He said that the HKTDC, a semi-government-sponsored organization, is expected to play a very strong role here, especially in terms of identifying opportunities and promoting these across the world. The HKTDC has organized trade shows, exhibitions, conferences as well as business matching arrangement, and will continue to do the same to promote the “Belt and Road” initiative, Lo said, adding that he has invited SMEs to participate in such expositions so as to identify the opportunities. “We will soon launch an information portal online containing all information related to the ‘Belt and Road’ initiative, the policies, the investment opportunities in the economies related to ‘Belt and Road’, and it will be a good way to help SMEs understand the initiatives,” he added. Source: http://www.chinadailyasia.com/2015-10/30/content_15337045.html
2015-10-30The “Belt and Road” initiative is expected to create a “big trickle-down effect” in regions along the routes, as demand for all sorts of goods and services from a wide spectrum of business will rise significantly, according to Y.K. Pang, chairman of the Hong Kong General Chamber of Commerce (HKGCC). The building industry will be the first to benefit from the vast opportunities arising from the initiative, raised by President Xi Jinping in 2013, Pang told China Daily in an exclusive interview on Thursday. Other services, involving the finance, accounting, legal and information-technology fields, will come around accordingly, he said. “As money is invested in those countries (along the ‘Belt and Road’), there’ll be plenty of demand for various things, for example, goods, supplies, retail services and even the need to entertain the people in those countries as their living conditions improve. There will be a big trickle-down effect because when money is invested in any location for any kind of business, it will spread across the whole society,” Pang said. Not only will big companies gain from the initiative, small and medium-sized enterprises (SMEs) are also set to benefit. The HKGCC chief reckons there’ll be a lot of design and technological work to do, citing the need to create new apps, portals and platforms. “These are things not only for large corporations, but also for SMEs.” Hong Kong SMEs will benefit too as money derived from infrastructure development will reach the pockets of ordinary citizens in those regions, thereby enhancing their consumption capability, Pang said. To better participate in the national strategy, Pang said the SAR needs to have a deeper understanding of the culture, geography and business environment of countries in the regions, and offer more training to Hong Kong people to help them adapt to and work in those economies. Hong Kong people may know markets on the Chinese mainland or in Singapore well enough, but as far as Cambodia, Vietnam or Sri Lanka are concerned, they do require better knowledge of them, Pang pointed out. “We need to understand how to fit in our efforts with the needs of markets in those areas. This is the only way for us to carry out the project successfully and make it a game-changing initiative.” Pang also called for greater cooperation with the mainland on various matters to reduce the risks associated with investments in the “Belt and Road” regions, such as how to work under different legal and accounting frameworks, the labor supply and the quality of labor for the projects involved. Source: http://www.chinadailyasia.com/2015-10/30/content_15337069.html
2015-10-30For Immediate Release PRESS RELEASE China Daily Forum on "Belt and Road" Era Potential "Hong Kong Unleashing the Potential of ‘Belt and Road Initiative'" Oct 29 2015, Hong Kong –China Daily Asia Leadership Roundtable held a luncheon on: Hong Kong Unleashing the Potential of Belt and Road Initiative with a keynote address by The Honourable C Y Leung, Chief Executive, Hong Kong Special Administrative Region between 11.30 am and 2.15 pm on Thursday, October 29, 2015 at Grand Ballroom, Grand Hyatt Hong Kong. Hong Kong, as an international financial capital, has the experience, expertise and the connections to serve as the “Super Connector” for the Belt and Road Initiative, China’s strategic initiative connecting 60 percent of the world’s population which accounts for 30 percent of the global GDP. What are the opportunities and challenges for Hong Kong in the “Belt and Road” era? What are the implications for the major business sectors in Hong Kong? Co-organized with the Hong Kong General Chamber of Commerce, and supported by Hong Kong Economic Journal and Bloomberg Business Week, China Daily is delighted to have The Honourable C Y Leung, Chief Executive of Hong Kong Special Administrative Region tonot only publish a signed articleon China Daily Hong Kong edition, but also deliver a keynote addresson “Hong Kong Unleashing the Potential of the Belt and Road Initiative”. “I believe our strength has been the ability to establish ourselves as an indispensable player in the global economy as well as the national development of China.” Said the Chief Executive. After his keynote speech, C Y Leung joined with Mr. C K Chow, Chairman, Hong Kong Exchanges and Clearing Ltd; Dr. Victor K. Fung, Group Chairman, Fung Group & Chairman, Advisory Board of Asia Global Institute; Mr. Lincoln Kwok Kuen Leong, Chief Executive Officer, MTR Corporation Ltd; Mr. Vincent H S Lo, Chairman, Hong Kong Trade Development Council and Mr. Y K Pang, Chairman, Hong Kong General Chamber of Commerce for an open panel to share their insights of Hong Kong’s development in the “Belt and Road” era. Mr. Zhou Li, Editorial Board Member, China Daily Group and Publisher & Editor-in-Chief, China Daily Asia Pacificdeliveredthe welcoming speech to demonstrate China Daily’s continuous effort in covering the strategic initiative, and relateddevelopment of Hong Kong and Asia. Mr. Lincoln Kwok Kuen Leong thinks the “Belt and Road”is bridging culture divide, taking Hong Kong to work with companies in the Chinese mainland, outside of Hong Kong and Chinese mainland domain; whileDr. Victor K. Fungis convinced that “every time there is a major change in China and the region, HK plays a significant role and we can always step up to the task.” Mr. C K Chow emphasized Hong Kong’s unique role in the great blueprint: “Hong Kong is part of China under ‘One Country Two Systems’ and that is where we will stand to compete and win.”Similarly, Mr. Vincent H S Lo sees “Belt and Road” as a golden chance for Hong Kong as long asthe city can restructure its economy and provide more opportunities for younger generation. Mr. Y K Pang believes there is a role to play in the “Belt and Road” initiative not only for large corporations, but also for small and medium-sized enterprises, as there will be a lot of work for them to do, like design, creating new apps, portals and platforms, etc. The Roundtable event attracted over 200 government officials, consul generals, and industry elites from local and abroad. ### About China Daily Asia Leadership Roundtable The China Daily Asia Leadership Roundtable is a by-invitation network of movers and shakers in Asia providing platforms for focused dialogue, issue investigation, and possible collective action on strategic issues relating to economic, business and social development in Asia. Our aim is to enhance communication and increase mutual understanding between China, Asian and Western countries. Roundtable events are held in major cities across Asia. (www.cdroundtable.com)
2015-10-29