HK Belt-Road Conference Held

The second Joint Conference on Advancing Hong Kong's Full Participation in & Contribution to the Belt & Road Initiative was held in Beijing today.

At the conference, both sides looked at the work launched by relevant Mainland ministries and the Hong Kong Special Administrative Region Government to take forward Hong Kong's full participation in and contribution to the Belt & Road Initiative after the first joint conference.

There were exchanges on key initiatives, including the deliberation on the establishment of a Belt & Road-related dispute avoidance and resolution mechanism.

Both sides agreed on fostering collaboration on policy exchanges and capacity building between the HKSAR Government and relevant Mainland ministries.

The conference was convened by the HKSAR Government with the National Development & Reform Commission (NDRC), the Hong Kong & Macao Affairs Office of the State Council and other relevant Mainland ministries.

HKSAR Government officials attending the conference included Secretary for Justice Teresa Cheng and Secretary for Commerce & Economic Development and Hong Kong-side convenor of the joint conference Edward Yau.

Ms Cheng said that Hong Kong can assume an important role as a deal maker and dispute resolver to serve the Belt & Road Initiative given that Hong Kong is privileged to have a sound and robust legal system, international arbitration and mediation legislation.

The Department of Justice will continue to promote Hong Kong's dispute resolution services to the countries and regions along the Belt & Road, leading to high-quality development of the Belt & Road Initiative, she added.

Mr Yau pointed out that the HKSAR Government will strengthen co-operation with the relevant Mainland authorities on policy exchanges and capacity building, particularly to share, discuss and have interactive exchanges on the practices and experiences of Hong Kong on finance, commerce, foreign-related legal matters, dispute resolution, city management, aviation and transportation, professional services and anti-corruption.

He said such collaboration would enhance the professionalism of both sides. The exchange programme was proposed to be held once or twice a year in Hong Kong, and to be led by a Mainland ministry official at the director-general level.

The HKSAR Government also briefed the conference on progress made in the past year on implementing the six key areas covered in the "Arrangement between the NDRC & the HKSAR Government for Advancing Hong Kong's Full Participation in & Contribution to the Belt & Road Initiative".

The areas include finance and investment, infrastructure and maritime services, economic and trade facilitation, people-to-people bonds, taking forward the Guangdong-Hong Kong-Macao Greater Bay Area development and enhancing collaboration in project interfacing and dispute resolution services.

Key work progress includes the launching of the Green Bond Grant Scheme, signing of Free Trade Agreements and Investment Promotion and Protection Agreements with more trading partners, and expansion of Hong Kong's overseas Economic & Trade Office network as well as enhancement of the Hong Kong Trade Development Council's Belt & Road Portal.

NDRC Vice Chairman Ning Jizhe attended the conference with NDRC Deputy Secretary General Su Wei who chaired the conference as the convenor of the joint conference.