Chief Executive Carrie Lam has signed, on behalf of the Hong Kong Special Administrative Region Government, an arrangement with National Development & Reform Commission Chairman He Lifeng to advance Hong Kong's participation in and contribution to the Belt & Road Initiative.
The arrangement, signed in Beijing today, will put forward measures focusing on six key areas: finance and investment; infrastructure and maritime services; economic and trade facilitation; people-to-people bonds; taking forward the Guangdong-Hong Kong-Macao Bay Area Development; and enhancing collaboration in project interfacing and dispute resolution services.
It will allow Hong Kong to give full play to its unique advantages under "one country, two systems" to contribute to the country and seize the opportunities brought by the initiative to provide new impetus for the city's economic growth.
Mrs Lam said: "Grounded on Hong Kong's strengths in finance, infrastructure, economic and trade, professional services and more, the arrangement seeks to enhance communication and co-operation with the Mainland in the 'five areas of connectivity', i.e. policy co-ordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bond.
"The relevant measures help reinforce and elevate Hong Kong's position as international financial, transportation and trade centres, promote partnership between the Mainland and Hong Kong enterprises, spawn the demand for Hong Kong's professional services, and present our talent with opportune prospects."
The arrangement covers a wide range of areas, including facilitating co-operation of all key stakeholders through the platform of Hong Kong to provide for the Belt & Road Initiative the funds required and a diversity of financing channels.
Mrs Lam said it will fully leverage Hong Kong's status as the global offshore renminbi business hub to facilitate cross-boundary investment, develop green finance, support Hong Kong in providing diversified professional services for Belt & Road infrastructure projects, support Hong Kong's maritime development and provide international legal and dispute resolution services for the Belt & Road Initiative.
It will also encourage enterprises on the Mainland and in related countries and regions to establish their regional headquarters in Hong Kong.
It will enhance academic, cultural and arts exchanges between Hong Kong and related countries and regions, and encourage Hong Kong to develop tourism products and stage conferences and exhibitions on the Belt & Road Initiative.
A Joint Conference mechanism will be set up between the HKSAR Government, the National Development & Reform Commission, the Hong Kong & Macao Affairs Office and other Mainland authorities for regular and direct communication.
The conference will discuss Hong Kong's participation in and contribution to the Belt & Road Initiative and consider work priorities.
Mrs Lam thanked the Central Government for its support, and the reform commission for its efforts in preparing the arrangement in recent months.
After the signing of the arrangement, the Commerce & Economic Development Bureau will follow up with the reform commission on the establishment of the Joint Conference mechanism.
"We intend to convene the meeting at the earliest opportunity next year to take forward the various areas of work in the arrangement," Mrs Lam said.
She also had a brief meeting with Mr He before the signing ceremony to relay the positive community response regarding Hong Kong's participation in the Belt & Road Initiative as well as the Guangdong-Hong Kong-Macao Bay Area.
She expressed the hope the Development Plan for the Guangdong-Hong Kong-Macao Bay Area can be completed as soon as practicable to enable the HKSAR Government to take forward the development projects.
Click here for details on the arrangement.
