The Government is setting up a steering committee led by the Chief Executive to formulate strategies and policies for Hong Kong's participation in the Belt & Road Initiative, Secretary for Commerce & Economic Development Gregory So says.
Speaking at a Legislative Council meeting today, Mr So said the inter-departmental committee will comprise bureau directors and the three secretaries in addition to the Chief Executive.
The committee's actual composition and size will be decided having regard to the development of strategies and policies.
A Belt & Road Office will also be established to take forward related studies and co-ordinate work among government departments and other organisations, such as the Trade Development Council and the Tourism Board, Mr So added.
The office will also liaise with the central ministries, provincial and municipal authorities, as well as various sectors, professional bodies and community organisations in Hong Kong.
The Government is formulating a work plan for the first stage and will then map out the committee and office's organisation and functions with details to be announced in due course, he added.
On the Asian Infrastructure Investment Bank, Mr So said the Government has been participating in its preparatory work and attending meetings as a member of the Chinese delegation, having seconded two officers to assist in setting up its systems and drawing up standards and procedural manuals.
The Financial Services & the Treasury Bureau will continue discussion with the Central Government and the bank on the specific arrangements for Hong Kong to join as a non-sovereign territory, he added.
Mr So noted that Hong Kong can develop into a major financing platform for infrastructure and related projects in the Belt & Road countries.
In the Budget, the Financial Secretary requested that the Monetary Authority set up the Infrastructure Financing Facilitation Office to provide a platform for pooling investors', banks' and the financial sector's efforts to offer comprehensive financial services for infrastructure projects.
The authority is working on establishing the office which is expected to be inaugurated this summer.
To continue exploring and promoting Belt & Road Initiative business opportunities, the Trade Development Council plans to organise another summit next year following the one held last month, while the Government will organise more major international thematic forums.
