Seize ‘Belt & Road’ Opportunities; Inject Positive Energy into Hong Kong’s Economy

For Immediate Release

With China’s 13th Five-Year Plan starting in March 2016, and the Belt & Road initiative moving ahead at full steam, Luo Fuhe, Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference, told the Chamber’s high-level delegation to Beijing that Hong Kong should leverage its advantages to seize new opportunities arising from the country’s growth. He added that HKGCC can play an important role in the country’s development.

Led by Chamber Chairman YK Pang, the 36-member high-level delegation left Hong Kong on Monday evening for a two-day visit to the capital. The delegation called on several state leaders and ministries to exchange views on economic developments in Hong Kong and the Mainland.

Luo commended the Chamber for its commitment and contribution to upholding the Basic Law and supporting the “one country, two systems” principle, as well as for efforts to enhance economic development between the two places. He cited the tremendous benefits that CEPA – which was conceptualized by the Chamber -- has brought to Hong Kong. He also praised the Chamber for speaking up about the impact that the occupy movement was having on Hong Kong, which he said “won the hearts and minds of the public.”

Pang said that economic reforms and the opening up of the Mainland’s economy have significantly benefited the SAR. A major goal of the Mainland’s 13th Five-Year Plan is “to become a moderately prosperous society” by 2020. He believes the plan, along with the Belt & Road initiative, will drive demand for professional services and talent. With our extensive expertise in finance, legal and maritime services, along with our rich talent pool, Hong Kong can help Mainland enterprises “go global.” Businesses can also expand their traditional middleman role.

The Mainland currently has four Free Trade Zones in Shanghai, Guangdong, Fujian and Tianjin, and Hong Kong can share its experience in operating in a free market to help Mainland enterprises align themselves with international practices and expedite economic reforms.

In a meeting with Zhou Bo, Deputy Director of Hong Kong and Macao Affairs Office of the State Council, Chamber Deputy Chairman Stephen Ng said Hong Kong has suffered a lot from internal friction. Therefore, it is essential that we speed up economic recovery to help lift the community and inject vitality into Hong Kong’s development. Executive Council Member, HKGCC’s LegCo Representative Jeffrey Lam and other delegates, said enhancing Hong Kong youngsters' understanding of the Mainland and strengthening exchanges between the two areas are key aspects of achieving that goal.

Zhou said that Hong Kong needs a stable social environment, less internal friction and more positivity to address all these issues. On helping youngsters better understand the Mainland, he said the Central Government will foster more exchanges, and hopes that the Chamber can contribute more to nurturing future leaders. He believes that Hong Kong has a bright future with the strong support of the Mainland behind it, and that we can serve as a super-connector for inbound and outbound investment flows.

Chairman of China Council for the Promotion of International Trade Jiang Zengwei said Mainland enterprises are actively investing overseas, and the cumulative value of Mainland FDI in Hong Kong has surpassed US$550 billion. Around half of that investment flows through Hong Kong to other countries and regions. As such, he expects Hong Kong will play a key role in managing investments for the Belt and Road initiative.

Zhang Ji, Assistant Minister of Commerce, and Li Wei, President of the State Council’s Development Research Centre, told the delegation that Hong Kong should look to tap the huge opportunities offered under the Belt & Road initiative. With its vast knowledge of the Mainland, they said Hong Kong has the advantage of serving as a platform for Mainland enterprises to go global.

Zhang added that China’s economy has entered a new era of moderate, yet stable, growth, which will maintain its status as one of the world’s leading economies.  He stressed that the Central Government has granted many special privileges to Hong Kong, and under CEPA businesses enjoy the highest level of access to the Mainland market. Moreover, any preferential provisions contained in bilateral or multilateral agreement signed between China and other countries are also applicable to Hong Kong.

About the Delegation

Yin Xiaojing, Deputy Director of the Liaison Office of the Central Government in the HKSAR, was the Honorary Advisor of the delegation. Guo Hengbin, Deputy Director-General of the Coordination Department of the Liaison Office, and Yang Yi, Head of the Commercial Office of Economic Affairs Department of the Liaison Office, were mission Advisors. Chamber Deputy Chairman Stephen Ng, Vice Chairman Betty Yuen, and Jeffrey Lam were deputy leaders of the delegation. Other delegates include General Committee members, the Chairmen and Vice Chairmen of various Chamber committees, as well as the Vice Chairman of the Hong Kong Bahrain Business Association.

Delegates called on the following ministries and officials:

Zhou Bo, Deputy Director, Hong Kong and Macao Affairs Office of the State Council; 

Luo Fuhe, Vice Chairman, National Committee of the Chinese People’s Political Consultative Conference;

Welcome lunch hosted by Lin Zhimin, Deputy Director of the United Front Work Department of CPC Central Committee;

Li Wei, President, Development Research Centre of the State Council;

Jiang Zengwei, Chairman of China Council for the Promotion of International Trade;

Zhang Ji, Assistant Minister of Commerce;

Dai Junliang, Director-General of United Front Work Department of Beijing Municipal Government;

Wang Changlin, Vice President of Academy of Macroeconomic Research, National Development and Reform Commission.

Captions

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Chamber Chairman YK Pang led the Chamber’s 36-member high-level delegation to Beijing. Luo Fuhe, Vice Chairman, National Committee of the CPPCC (front row, centre), met with delegates and praised HKGCC for its contribution to the prosperity of Hong Kong.

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Luo Fuhe, Vice Chairman, National Committee of the CPPCC (right), encouraged members to seize new opportunities arising from China’s 13th Five-Year Plan and the Belt & Road initiative.

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Delegates pose for a group photo with Luo Fuhe (6thfrom left), Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference, and Yin Xiaojing (7thfrom left), Deputy Director of the Liaison Office of the Central Government in the HKSAR, and Honorary Advisor of the delegation.

Photos can be downloaded from www.chamber.org.hk/en/media/pressphotos/

Media inquiries: Please contactMr William Ngo at 28231291/[email protected]