Emerging markets are of growing importance in the global economy and Hong Kong needs to expand trading ties with the rest of the world and develop more markets for enterprises.
Delivering his 2016-17 Budget today, Financial Secretary John Tsang said the Belt & Road Initiative is a strategy for long-term development and the emerging markets along the Belt-Road are likely to become the new impetus for Hong Kong’s future development.
The Government will continue promotion efforts to deepen understanding of the business sector and the community of these new markets. He also plans to lead a business mission to Central Asia this year to gain first-hand knowledge about the development potential and business opportunities in the region.
The Monetary Authority will establish an office to facilitate the financing of infrastructure projects and provide a platform for pooling the efforts of investors, banks and the financial sector to offer comprehensive financial services for various infrastructure projects.
The Government and the Trade Development Council will organise the inaugural Belt & Road Summit in May to discuss and explore co-operation opportunities and the unique role Hong Kong can play.
Mr Tsang said the Government will strive to pursue trade and investment agreements to expand Hong Kong’s commercial and trading networks, creating more favourable conditions for Hong Kong enterprises to access the Mainland and overseas markets.
To cater for long-term air traffic demand and sustain Hong Kong’s competitiveness as an aviation hub, the Airport Authority is pressing ahead with the implementation of the three-runway system project.
A “single window” for “one-stop” lodging of the 50-plus trade documents and submissions for trade declaration and customs clearance will be established to facilitate trade in goods.
The Government will continue to promote mutual capital market access between Hong Kong and the Mainland, attract more corporate treasury centres to Hong Kong, strengthen publicity of the city’s capital market and develop green financial products, he added.
