China’s central government will ‘expand’ Hong Kong’s role in Belt and Road Initiative

Beijing’s assurance came at opening of the Belt and Road Summit at the Hong Kong Convention and Exhibition Centre on Wednesday, where the newly-appointed deputy prime minister of Vietnam, Nguyen Hoa Binh also called on city authorities to promote two-way tourism and business links with his country.

Li Yongjie, China’s deputy international trade representative, said in opening remarks that the Ministry of Commerce would further “expand the space” for Hong Kong to participate in joint developments in the Belt and Road Initiative, Beijing’s push to link economies across Asia, Europe, Africa and South America into a China-centred trade network.

“We will jointly promote practical cooperation projects to further elevate Hong Kong’s participation in the Belt and Road Initiative [and] continue to support mainland and Hong Kong businesses to strengthen information exchanges and deepen cooperation on Belt and Road projects,” she said.

Listing the areas in which Beijing would support Hong Kong in expanding into overseas markets, Li said: “We will continue to guide Hong Kong businesses to leverage their international advantages in service industries such as financial, legal, shipping and accounting, and provide high-level professional services for overseas economic and trade cooperation zones, foreign investment and contracting constructions.”