As a long-term national policy, the “Belt and Road Initiative” (B&R) should strengthen interactions among businesses, especially collaboration between Hong Kong’s professional service industries and Mainland enterprises, which is precisely the goal of the Mainland China-Hong Kong Belt and Road Business and Professional Services Council (BRBPSC) jointly established by the Chamber and the China International Contractors Association (the CHINCA).
Supported by the Ministry of Commerce and the HKSAR Government, the BRBPSC is composed of over 40 major business associations, professional bodies and large enterprises in Hong Kong and the Mainland. Through various forms of activities, the BRBPSC aims to provide a platform for interactions between the enterprises of both places to leverage their respective strengths and integrate into the country’s new era of development, jointly tapping the BRI opportunities for cooperation. The BRBPSC is chaired by Jonathan Choi, the Chamber’s Chairman (for Hong Kong) and Lin Jingzhen, Executive Vice President of Bank of China (for the Mainland).
Carrie Lam, HKSAR Chief Executive; Fu Ziying, Vice Minister of Commerce and Deputy China International Trade Representative (ministerial level); Xie Feng, Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR; Chou Hong, Deputy Director of the Liaison Office of the Central Government; Paul Chan, Financial Secretary; Edward Yau, Secretary for Commerce and Economic Development, and Sun Tong, Director General of the Department of Taiwan, Hong Kong and Macao Affairs of the Ministry of Commerce attended the BRBPSC’s inauguration ceremony. The BRBPSC’s chairmen, directors, members and other business professionals gathered together to witness the key moment.
An interaction platform for integration into overall development
In her speech, Lam said that she looked forward to the BRBPSC serving as a bridge for the business communities and civic organizations of Hong Kong and the Mainland to participate in B&R. She mentioned that Hong Kong provides reliable professional services in the areas of finance, insurance and law, and the HKSAR Government will strive to build Hong Kong into a B&R node and a platform for commerce, trade and services. She encouraged the BRBPSC to drive the various business and professional service industries of Hong Kong and the Mainland to step up communications and ties.
Pointing out that the establishment of the BRBPSC is of great significance to leveraging Hong Kong’s strengths and promoting all-round cooperation between the enterprises of Hong Kong and the Mainland, Fu put forward four suggestions: strengthen interactions between enterprises of the Mainland and Hong Kong, take into account the interests and concerns of both sides through innovative cooperation, encourage the enterprises to draw on their respective strengths, and actively lead the enterprises to venture out to tap into global markets. He also said that at the first meeting of the Mainland and Hong Kong Economic and Trade Cooperation Committee with the HKSAR Government, the two sides agreed to set up a task force to support Hong Kong’s participation in B&R and continue to leverage Hong Kong’s advantages to meet the country’s needs.
Capture opportunities through complementarity of strengths
Choi said that Hong Kong has always played the role of a “super connector” in the Mainland and B&R markets. He looked forward to the BRBPSC effectively promoting practical cooperation between the enterprises of Hong Kong and the Mainland, providing maximum support for both sides to participate in and tap into the B&R markets by drawing on the Mainland’s strengths in large-scale transportation, infrastructure and energy sources in combination with Hong Kong’s strengths in financial, legal, taxation, project management and other business and professional services.
Lin pointed out that the B&R provides a platform for interconnection. From the perspective of enterprises, Mainland enterprises have strong cost and scale advantages while Hong Kong enterprises can provide packaged services through their first-class international professionals, and the establishment of the BRBPSC is precisely to promote interactions between the enterprises of the two places for mutually beneficial, win-win co-development. Fang Qiuchen, Secretary-General (Mainland) of the BRBPSC and Chairman of the CHINCA, stressed that the BRBPSC will do its utmost to provide an efficient interaction platform for pragmatic cooperation between the enterprises of Hong Kong and the Mainland, creating a broad space for mutually beneficial development.
