Chief Executive John Lee Ka-chiu (center) witnesses the memorandum of understanding exchanged between Hong Kong’s undersecretary for financial services and the treasury, Joseph Chan Ho-lim(right) and a representative from the Department of Economy and Tourism of Dubai during the eighth Belt and Road Summit on Sept 13, 2023. (ANDY CHONG / CHINA DAILY)
The Belt and Road Initiative will enable China to achieve a higher level of opening-up and promote common development and prosperity of all Belt and Road countries, Vice-Premier Ding Xuexiang said.
Ding was speaking at the eighth Belt and Road Summit which is being held on Wednesday and Thursday. Jointly organized by the Hong Kong Special Administrative Region government and Hong Kong Trade Development Council, the summit marked the 10th anniversary of the BRI which was unveiled by President Xi Jinping in 2013.
“In the past 10 years, China has adhered to the principles of extensive consultation, joint contribution and shared benefits that have achieved fruitful results in building the BRI,” Ding said in a pre-recorded opening keynote speech.
The vice premier noted that China has signed more than 200 cooperation documents with 180 countries and international organizations for building the BRI collectively. It is estimated that more than 3,000 cooperation projects with an investment of $1 trillion is involved.
Ding also expressed his four expectations for Hong Kong, as the city should preserve its unique advantages so that it can assume more important functions in the joint construction of the BRI.
The four expectations are: Hong Kong should consolidate its status as an international financial, shipping, and trade center; deepen regional cooperation and expand its economic and trade network such as joining the Regional Comprehensive Economic Partnership; serve the diversified financing needs of the Belt and Road construction; and establish itself as a cultural melting-pot to facilitate people-to-people bonds.
Chinese Vice-Premier Ding Xuexiang delivers a keynote speech via video during the opening session of the Belt and Road Summit 2023 at Hong Kong Convention and Exhibition Centre in Wan Chai on Sept 13, 2023. (ANDY CHONG / CHINA DAILY)
Zheng Yanxiong, deputy director of Hong Kong and Macao Affairs Office of the State Council and director of the Liaison Office of the Central People’s Government in the Hong Kong SAR, delivered a special address.
“The United States should cherish the opportunities brought to the world by the BRI instead of obstructing the initiative. Any move that is detrimental to the initiative is not popular and benefits no one,” Zheng said.
Zheng added that global industrial chain and supply chain are more secure because of China, as cheap and high-quality consumer goods are provided by the country.
“Hong Kong remains steadfast in promoting the advancement of this wide-ranging blueprint and contributing to our country’s efforts in global governance,” Chief Executive John Lee Ka-chiu noted in his opening remarks.
“The city is determined to embrace the vast promise of the Belt and Road, and the SAR is redoubling efforts to serve as the Belt and Road’s functional platform,” Lee added.
The chief executive cited financing, professional services, risk management, legal and dispute resolution services, architectural and infrastructure management, and innovation and technology offerings as Hong Kong’s areas of expertise.
The summit has attracted nearly 6,000 government officials, business leaders, entrepreneurs, and startups from some 70 countries and regions along the BRI, together with more than 100 overseas and mainland delegations. More than 260 delegates representing over 35 State-owned enterprises in the country have joined this year’s summit.
Zheng Yanxiong, the deputy director of the Hong Kong and Macao Affairs Office of the State Council of the People's Republic of China and the director of the Liaison Office of the Central People's Government in the Hong
Kong Special Administrative Region, speaks during the opening session of the Belt and Road Summit 2023 at Hong Kong Convention and Exhibition Centre in Wan Chai on Sept 13, 2023. (ANDY CHONG / CHINA DAILY)
The number of foreign ministers attending, and the number of memorandums of understanding being exchanged and signed at this year’s summit, are all greater than at any previous Belt and Road Summit.
In his keynote address, Indonesian Special Staff to Coordinating Minister for Economic Affairs Rizal Affandi Lukman said, “Indonesia, and ASEAN in general, look forward to deepening economic cooperation opportunities within the Belt and Road framework in the region, and welcomes having future projects of cooperation for Indonesia and across the region.”
Arman Shakkaliyev, Kazakh minister of trade and integration, said: “It is our view that Belt and Road Initiative is an educated response to emerging economic challenges on a continent scale. Over 10 years, Chinese investments in countries along Belt and Road have exceeded $120 billion dollars.”
In a a luncheon keynote speech, Secretary-General of ASEAN Dr Kao Kim Hourn said he values Hong Kong’s role in linking China with the rest of the world, particularly with countries under the BRI, and that he welcomes Hong Kong’s request to join the Regional Comprehensive Economic Partnership.
“Connectivity services are vital not only for infrastructure to facilitate the flow of goods and services among partners, but also for broader trade, investment, education, tourism and related exchanges toward greater prosperity for all people in the region,” he said.
Guo Tingting, vice-minister of commerce, Gou Ping, vice-chairman of the State-owned Assets Supervision and Administration Commission of the State Council, and Xiao Weiming, deputy secretary general of the National Development and Reform Commission, also addressed the summit.
The Belt and Road countries collectively account for 40 percent of the global gross domestic product and 45 percent of the world’s merchandise trade.
Yang Han and Jan Yumul contributed to the story.
