Leung applauds HK’s ‘super-connector’ role
Chief Executive Leung Chun-ying said on Sunday Hong Kong is well placed to act as the “super-connector” in the Belt and Road Initiative as the city enjoys multiple advantages in fostering cross-boundary cooperation and financial connectivity among the regions involved.
He also stressed that financial services are regarded as the SAR’s key strength in another State-level development initiative — the Guangdong-Hong Kong-Macao Greater Bay Area.
Leung made the remarks in a speech during the thematic session on financial connectivity at the Belt and Road Forum for International Cooperation in Beijing which was declared open by President Xi Jinping. Xi delivered the keynote address before an audience of about 1,500 representatives, including 29 foreign heads of state and government, calling the Belt and Road a project of the century that will benefit people across the world.
Leung said the Belt and Road is about international cooperation. “And, financial connectivity lies at the heart of the project,” he said, adding that Hong Kong is “highly international” and enjoys “super-connectivity”, thanks to the “One Country, Two Systems” principle.
Leung attributed Hong Kong’s success to having a great pool of financial professionals, including bankers, lawyers, accountants and risk managers. He said they have provided the city with advantages in cross-boundary transactions.
He noted that Hong Kong is home to 8,000 Chinese mainland and foreign companies’ regional offices and that it has been named the world’s freest economy for 23 consecutive years by Washington-based think tank, the Heritage Foundation.
Hong Kong, as part of China, “is China’s international financial center” and also “the world’s China financial center”.
Elaborating on Hong Kong’s edges in advancing financial connectivity among countries and regions in the Belt and Road Initiative, Leung pointed out that the city tops the world in terms of fundraising in initial public offerings, provides various financing avenues like
Hong Kong is ‘highly international’ and enjoys ‘super-connectivity’, thanks to the ‘One Country, Two Systems’ principle.” Leung Chun-ying, Hong Kong Chief Executive
syndicated loans and private equity funds, and serves as Asia’s center for asset and risk management, insurance and re-insurance, as well as corporate treasury services.
Besides, Hong Kong boasts good project management and operational management work, which guarantees highquality infrastructure projects.
Leung stressed that the city is making rigorous plans for the Guangdong-Hong KongMacao Greater Bay Area, which covers nine mainland cities, as well as Hong Kong and Macao.
The CE led 30 senior Hong Kong government officials and representatives of the banking and financial industries, chambers of commerce and professional institutions to the two-day forum, which ends today (Monday).