"Belt and Road: Hong Kong-IN" Sharing Session on Financial Services and Business Growth

The Commerce and Economic Development Bureau (CEDB) and the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), joined by the Hong Kong Chinese Enterprises Association, co-organised the “Belt and Road: Hong Kong – IN” Sharing Session on Financial Services and Business Growth on 19 November 2019. This sharing session was the third attempt of collaboration between CEDB and SASAC after the two sharing sessions in August 2018 and February 2019, respectively themed investment environment of overseas Economic and Trade Co-operation Zones (ETCZs) and risk management, which provided a platform of exchange between State-owned Enterprises (SoEs), Mainland and Hong Kong companies/professional services.

The topic of the subject sharing session focused on the opportunities and challenges relevant to raising capital for Belt and Road (B&R) projects and expanding overseas markets. After welcome address from Mr Denis Yip, the Commissioner for Belt and Road, and the opening remarks delivered by Mr Xie Xiaobing, the Deputy Director-General of the Bureau of Property Right Management of the SASAC, there came two panel discussions moderated by Mr Denis Yip. Towards the end of the session, the Secretary for Commerce and Economic Development, Mr Edward Yau gave a concluding remark. Please refer to the link for the rundown of the sharing session (Chinese only).

Panel speakers from Hong Kong and Mainland enterprises/professional services included the Deputy Chief Executive of Bank of China (Hong Kong) Limited, Mr Wang Bing; the Deputy Chief Executive Officer of the Securities and Futures Commission, Ms Leung Fung-yee; the Director of Operation of Hong Kong Quality Assurance Agency, Mr P C Chan; the Director and Executive Vice President of China Mobile International Limited, Mr Shen Weizhong; the Chairman of Federation of Hong Kong Industries, Dr Daniel Yip; the Vice President of China Life Insurance (Overseas) Company Limited, Mr Yu Deben; and the Executive Director and Vice President of Shanghai Industrial Investment (Holdings) Company Limited, Mr Xu Bo. They shared their insights on the unique advantages of Hong Kong financial and professional services, the listing requirements and regulatory measures in Hong Kong that promoted capital-raising for B&R projects, the role of Hong Kong as the prime platform for B&R businesses, and the successful experiences of Hong Kong trade and industries to go overseas.

Around 200 participants attended this sharing session, comprising representatives from 7 SoEs, as well as local enterprises and professionals from a good number of areas in finance and investment, insurance, accounting and business consultancy, legal and dispute settlement, construction, engineering and surveying, telecommunications, technology, energy, chambers and start-ups, etc. More details can be found in the press release.

A business matching session was also arranged during the event, at which many representatives of Hong Kong enterprises and professional services communicated directly with SoEs on experiences in raising capital and running businesses, facilitated their “going global” in partnership to explore the B&R markets.