The 11th Belt & Road Summit opened today, bringing together over 6,000 participants, including over 100 government and business speakers, as well as over 100 delegations. More than 60 memoranda of understanding (MOUs) will be witnessed during the Summit.
Under the theme “Advancing High-quality Development • Embarking on a New Journey”, the Summit aims to foster high-quality, sustainable and innovative development.
Speaking at the opening session, Chief Executive John Lee said, in addition to strengthening the city’s relations with traditional partners, Hong Kong continues to expand its network of friends along the Belt and Road.
“I have led high-level business delegations to explore opportunities in 13 Belt and Road countries across the Association of Southeast Asian Nations (ASEAN), the Middle East and Central Asia, focusing on specific areas to explore new markets,” Mr Lee said.
“These missions delivered over 250 MOUs and other agreements, from policy co-ordination and trade and investment, to expanded connectivity and support for companies. They underline Hong Kong’s long-standing focus on opening new markets, forming new partnerships and advancing regional co-operation.”
Mr Lee said these achievements demonstrate the value of a hub-to-hub co-operation model, where Hong Kong can serve as Belt and Road economies’ gateway to the Chinese Mainland and global markets and the economies can connect Hong Kong with relevant regions. This interconnected network of hubs will amplify regional strengths through enhanced connectivity and unleash fresh opportunities.
Financial Secretary Paul Chan said ASEAN has consistently outpaced the global economy and is becoming an increasingly important partner in technological advancement and industrial upgrading. Two-way trade between China and ASEAN surpassed US$1 trillion last year, reflecting the reshaping of industrial chains across the region.
He stated that ASEAN’s demographic, market and technology dividends offer growth opportunities through its young population, expanding middle class, trade agreements and AI. Turning these advantages into sustained growth requires patient capital, open, well-regulated testing grounds and a strong talent base. Hong Kong can connect global investors with innovative companies, drawing on the Guangdong-Hong Kong-Macao Greater Bay Area’s frontier research, advanced manufacturing and substantial consumer market. The Northern Metropolis will facilitate the flow of technology, talent and capital, strengthening connections between research, commercial application and production to foster shared prosperity across the region.
Secretary for Justice Paul Lam noted that the arbitration ecosystem in Hong Kong is equally world-renowned, the city is the second most preferred arbitral seat in the world, and the most preferred arbitral seat in Asia Pacific. Together with the headquarters of the International Organization for Mediation established in Hong Kong, which is dedicated to resolving international disputes through mediation, all these reinforce the city’s status as an international legal and dispute resolution services centre.
Secretary for Commerce & Economic Development Algernon Yau highlighted that Hong Kong is steadfast in promoting trade for the benefit of all, through upholding a rules-based multilateral trading system, implementing transparent and non-discriminatory regulations, and facilitating customs and digital interoperability.
The Summit witnessed seven MOUs between the HKSAR Government and their overseas counterparts to promote bilateral co-operation and exchanges, covering the Commerce and Economic Development Bureau, the Working Group on Developing Low-altitude Economy, the Independent Commission Against Corruption, the Belt and Road Office, Invest Hong Kong and the Financial Services and the Treasury Bureau, with Bangladesh, Kazakhstan, Morocco, Thailand, Turkey, Zimbabwe, and Uzbekistan.
The Summit also witnessed around 55 other MOUs in various areas. The total value of these MOUs, together with new projects and deals finalised before and during the Summit, is over US$3.1 billion.
