Hong Kong is set to intensify its backing for Belt and Road enterprises aiming to enter emerging markets and capitalize on regional opportunities, further cementing the city’s status as a vital commercial hub and gateway for international engagement, according to the city’s financial secretary.
In a recent weekly blog post, Financial Secretary Paul Chan Mo-po highlighted robust economic expansion across emerging markets and developing economies. He referenced International Monetary Fund forecasts projecting growth rates of 3.8 per cent and 4.5 per cent, respectively, over the next two years.
“The gradual shift of mainland China’s industrial supply chains toward Belt and Road regions reflects this evolving landscape,” Chan stated.
The comments came ahead of the 11th Belt and Road Summit, scheduled to take place in Hong Kong this week. The annual gathering fosters business collaboration among nations participating in Beijing’s flagship Belt and Road Initiative, which seeks to construct a China-centric global trading network.
This year’s summit carries the theme “Advancing high-quality development, embarking on a new journey.” Notably, it will feature a new “Go Global Chapter” designed to assist mainland enterprises in their overseas ventures.
Chan noted that mainland firms have established approximately 58,000 overseas entities, generating over two million local jobs each year, with cumulative investments totaling US$3.4 trillion—nearly 90 per cent of which is concentrated in developing economies.