The Belt and Road Initiative has become one of the world’s largest and broadest platforms for international financial cooperation since its launch in 2013, delivering tangible benefits to participating countries and regions, Financial Secretary Paul Chan Mo-po said on Sunday.
Writing in his weekly blog, Chan highlighted the Hong Kong Special Administrative Region’s contributions to advancing the initiative, which has supported extensive development projects and created hundreds of thousands of jobs across more than 150 countries and regions.
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He cited the SAR’s deepening financial ties with neighboring regions, noting that cross-listings between the Middle East and local exchanges are boosting two-way capital flows. Last week, the city saw the debut of the first offshore renminbi bond issued by a Central Asian institution.
Hong Kong is also driving the global green transition and infrastructure development, having issued over $80 billion in green and sustainable debts last year, with green bonds making up 45 percent of the total in Asia, according to Chan.
As a “super connector” and a “super value-adder” between the Chinese mainland and the world, the financial chief said Hong Kong’s role in the initiative will be brought into full play as the city hosts the upcoming 10th Belt and Road Summit.
The two-day forum on Sept 10 and 11 will bring together officials and industry leaders from more than 90 countries and regions to delve deep into new opportunities and partnerships in various fields, such as innovation, infrastructure, and aviation.
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The current-term SAR government has facilitated the signing of around 50 Memoranda of Understanding through the event in the past few years, covering areas that included commerce and trade, finance, and environmental protection, Secretary for Commerce and Economic Development Algernon Yau Ying-wah said last month.
Yau expects the number of MoUs signed during this year’s forum to be more than that of last year.
Contact the writer at gabylin@chinadailyhk.com
