A woman takes a photo of sailing boats on Victoria Harbour in Hong Kong on July 22, 2022. (ISAAC LAWRENCE / AFP)

Hong Kong has a promising future with deepening integration into the Belt and Road Initiative, business leaders said at a high-end seminar held to discuss the role of the city’s business sector in the initiative.

Deng Renjie, executive vice-president of China Merchants Group, said the group will continue to invest in and operate projects in regions involved in the initiative by leveraging the city’s strengths in capital, talent pool, financial market, legal and accounting services

Deng Renjie, executive vice-president of China Merchants Group, said the group will continue to invest in and operate projects in regions involved in the initiative by leveraging the city’s strengths in capital, talent pool, financial market, legal and accounting services.

Deng said the group will also strive to strengthen core infrastructure and transport capacity to help consolidate Hong Kong’s status as a global shipping hub.

Thursday’s seminar was held by the Hong Kong Trade Development Council and seven local business chambers, including the Chinese General Chamber of Commerce and the Chinese Manufacturers’ Association of Hong Kong.

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It followed the high-profile Belt and Road Summit on Aug 31 and Sept 1, which saw over 800 talks featuring those from the industrial and commercial sectors involved in over 280 investment projects.

Lam Lung-on, president of the Hong Kong Chinese Importers’ and Exporters’ Association, said the timely seminar gave the business sector great confidence about the city’s integration into the initiative and its economic recovery.

Lam said Hong Kong has huge trade volumes and the association is confident about consolidating the city’s role as an international trading center.

He added that the association will continue to promote Hong Kong’s cross-border e-commerce to address the pain points in import and export trade.

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Patrick Healy, who serves on Swire Pacific’s board and as chairman of the group’s Cathay Pacific and Swire Coca-Cola, said the group sees opportunities to contribute substantially to the Belt and Road Initiative, but will also be the beneficiaries of it.

Praising the fact that Hong Kong has been one of the most connected cities in the world for a long time, Healy said that it’s the group’s intention to strengthen the city’s connectivity.

He said that the initiative’s principles include bringing people together and connecting people, adding that the group will continue to invest in Hong Kong and in countries involved in the Belt and Road Initiative.

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