Chan Mo-po: Mutually beneficial cooperation between Hong Kong and the “One Belt, One Road” region is moving towards networked and institutionalized

China News Service, Hong Kong, September 13. Financial Secretary Paul Chan of the Hong Kong Special Administrative Region Government published a blog on the 13th, saying that the mutually beneficial cooperation between Hong Kong and the "Belt and Road" region is moving from individual projects to network and mechanism.

Chen Maobo mentioned in the article that Sohar International Bank, the second largest bank in the Sultanate of Oman (referred to as "Oman"), recently established its first office outside the Middle East in Hong Kong; the Oman Investment Authority announced that it plans to participate in the "Innovation and Technology Venture Capital Fund" of the Hong Kong SAR government and inject approximately HK$250 million.

He introduced that at the 11th "Belt and Road" Summit Forum held recently, the Hong Kong Monetary Authority, Hong Kong Exchanges and Clearing Limited, Dubai Financial Services Authority and Nasdaq Dubai Exchange announced the establishment of a strategic working group to regularize and institutionalize the cooperation; the Financial Services and the Treasury Bureau of the Hong Kong SAR Government and the Central Bank of Uzbekistan exchanged a memorandum of understanding to strengthen cooperation in the gold markets between the two places.

In addition, the total number of green and sustainable bonds arranged for issuance in Hong Kong in the first half of this year reached US$20.2 billion, ranking first in Asia for eight consecutive years.

Chen Maobo emphasized that the above-mentioned cooperation is two-way and mutually beneficial. From finance, innovation and technology to green transformation, Hong Kong’s connections with the Belt and Road region and the global South continue to expand and deepen from point to point. The Global South brings more business opportunities, attracts more funds and deeper market liquidity to Hong Kong, while Hong Kong provides substantial and necessary support for their development.

He pointed out that the country's all-round solid support for Hong Kong is the confidence for Hong Kong to accelerate its development in conjunction with the global south. Next, the market's focus will be on Hong Kong's first five-year plan and the new policy address, to further understand the vision and direction of Hong Kong's future development, and the policy measures that will be gradually and concretely implemented, so as to better deploy investment and business development in Hong Kong and the region, and jointly create a new chapter of Hong Kong's governance and prosperity, with unlimited business opportunities.