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Belt-Road pact to cover key areas

September 11, 2017

Hong Kong's new co-operation agreement with the Central Government on the Belt & Road Initiative will cover key areas including finance and capital raising, infrastructure facilities as well as project information sharing.


Chief Executive Carrie Lam made the statement at the Belt & Road Summit today, saying the new pact will be another landmark agreement between Hong Kong and the Mainland since the signing of the Closer Economic Partnership Arrangement.


"Since the beginning of this term of the Hong Kong Special Administrative Region Government on July 1 this year, my colleagues and I have engaged in earnest discussions with the Central Government on a new co-operation agreement that would give full play to Hong Kong's unique advantages under 'one country, two systems' in support of the Belt & Road Initiative.


"Collaboration strategies under the agreement would cover key areas such as finance and capital raising, infrastructure facilities, trade and investment facilitation, project information sharing, interfacing and dispute resolution, as well as promoting people-to-people bonds."


Financial Secretary Paul Chan also spoke at the summit.


Mr Chan said Hong Kong is the natural premier services and capital hub for the Belt & Road Initiative.


"That is particularly true for infrastructure financing and financial connectivity, both of which lie at the forefront of the Belt & Road Initiative."


Secretary for Justice Rimsky Yuen also spoke at the panel session on "Using Hong Kong as a Platform for Infrastructure Dispute Resolution".


Co-organised by the Government and the Trade Development Council, the one-day summit has attracted more than 3,000 political and business leaders, policymakers and industry experts from all over the world.