Business / Economy

Belt and Road Initiative to drive global growth: HK financial chief

(Xinhua) Updated: 2015-10-29 16:54

HONG KONG - Hong Kong's Financial Secretary John Tsang said on Thursday that this is the right moment to seek to understand more about the different perspectives of the Belt and Road Initiative, in particular the business environment and investment opportunities in the emerging markets in Central Asia.

Speaking at the Conference on Silk Road Strategy - Focus on Tajikistan at the Hong Kong Polytechnic University, Tsang said the global economy has been full of uncertainties since the global financial crisis in 2008. While the US economy is showing some encouraging signs, there are grave concerns over the slowdown of the economies of the Chinese mainland as well as other emerging markets. There is also hardly any progress made in the recovery of the Eurozone and Japan.

Tsang said the Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative has become the much-needed driving force of the world economy in this 21st century and can encourage closer economic and cultural co-operation among 60-plus economies, particularly those emerging economies spanning Asia, Europe and Africa.

He said under the unique "one country, two systems" framework, Hong Kong has its distinctive advantages, including a world-class market infrastructure and unparalleled business network as well as a robust legal system, which can serve as the fundraising and financial management hub for countries along the Belt and Road.

"The experience and expertise of Hong Kong's high-end professionals in the fields of accounting, law, architecture, engineering management and much more can offer solid support to the management and operation of infrastructural projects that serve to boost connectivity among the countries, including but not limited to railway, airport, port as well as power supply," the financial chief said.

The Hong Kong Special Administrative Region government is actively preparing for a visit to Central Asia to gain a first-hand view of these resourceful economies so that investors from Hong Kong would be able to grasp the massive opportunities that are waiting to find the right collaboration, he added.

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