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AIIB, HK to boost Belt and Road Initiative

Jing Shuiyu
Updated: Feb 4,2018 9:30 AM

The Asian Infrastructure Investment Bank will enhance cooperation with the Hong Kong SAR in boosting the Belt and Road Initiative, said the bank’s president Jin Liqun on Feb 3.

“Hong Kong, as one of the major international financial centers, has advantages in a wide range of areas, including investment, risk assessment, finance, insurance, accounting, legal services and arbitration,” Jin said at a seminar in Beijing. “It also enjoys rich experience in infrastructure construction and operation management.”

“We are willing to strengthen cooperation with the Hong Kong officials, financial institutions, relevant agencies and enterprises to further promote the initiative, thus contributing to economic expansion in Asia, as well as the global economy,” he added.

Jin made the comments at the Seminar on Strategies and Opportunities under the Belt and Road Initiative — Leveraging Hong Kong’s Advantages, Meeting the Country’s Needs.

The event, organized by the Belt and Road General Chamber of Commerce, gathered a host of top officials and business leaders from the Chinese mainland and Hong Kong to discuss and seek fresh opportunities brought by the initiative.

Zhang Dejiang, chairman of the Standing Committee of the National People’s Congress, and Lam Cheng Yuet-ngor, chief executive of the Hong Kong SAR, attended the seminar.

“The SASAC will continue facilitating SOEs in making full use of Hong Kong’s capital markets and professional services,” said Xiao Yaqing, head of the State-owned Assets Supervision and Administration Commission.

Key areas of cooperation, Xiao said, would include commerce and trade, industrial development, science and technology.

For years, SOEs have been ramping up efforts to invest and develop in Hong Kong. By the end of 2016, 92 central government-owned companies operated businesses in Hong Kong, with total assets exceeding 3 trillion yuan ($476.31 billion), according to Xiao.