The Legislative Council held a forum today (July 17) to discuss Hong Kong's participation in the Belt and Road Initiative and the advantages of its common law system. The Secretary for Justice, Paul Lam, led officials at the meeting.
Lam reiterated his recent discussions in Beijing with central ministries, quoting the central government's expectation for Hong Kong to leverage three key advantages: strengthening its role as an international legal and dispute resolution services center in the Asia-Pacific region, advancing innovation and green finance, and utilizing its multicultural integration, such as establishing the Belt and Road scholarships.
As the head of the Belt and Road Development Working Group under the Steering Group on Integration into National Development, Lam traveled to Beijing for exchanges with central ministries.
He attended the seventh Joint Conference on Advancing Hong Kong's Full Participation in and Contribution to the Belt and Road Initiative and met with Xia Baolong, Director of the Hong Kong and Macao Affairs Office of the State Council, last Thursday.
Lam quoted the central government's hopes for Hong Kong to utilize three key advantages. The first is the dual-function platform advantage, where Hong Kong serves as a trade and professional services platform, reinforcing its role as an international legal services and dispute resolution center in the Asia-Pacific region. The second advantage lies in technological innovation and green development, specifically green finance and technological advancements. The third is the advantage of multicultural integration, exemplified by the Belt and Road scholarships and other cultural activities.
During the meeting, Lam proposed 12 suggestions to leverage Hong Kong's strengths in participating in the Belt and Road Initiative, which received positive responses from the central government.
Secretary for Commerce and Economic Development Algernon Yau stated that Hong Kong would host the Belt and Road Summit on September 11th and 12th, focusing on enhancing communication and cooperation with ASEAN this year.
The Belt and Road Office will continue its overseas visits. Additionally, Yau mentioned ongoing efforts to join the Regional Comprehensive Economic Partnership (RCEP) and plans to establish economic and trade offices in Kuala Lumpur, Malaysia, and Saudi Arabia to strengthen ties with Belt and Road countries.
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