Belt and Road Initiative 'entering its next golden decade', says John Lee

The 9th Belt and Road Summit started on Wednesday and drew around 6,000 guests from some 70 countries and regions to the two-day event. Chief Executive John Lee Ka-chiu noted that the Belt and Road Initiative (BRI) is now entering its next golden decade to inspire more countries and economies to share opportunities and embrace culturally inclusive exchanges.

Delivering the opening remarks, Lee said the Summit has been recognized by Beijing as a key global gathering for advancing economic, trade and investment cooperation under the BRI and Hong Kong is “perfectly positioned to play a pivotal role” in realizing the visionary goal of the Initiative. 

He noted that the theme of this year's Summit – Building a Connected, Innovative and Green Belt and Road – has echoed China's major steps to support the collective pursuit of high-quality Belt and Road cooperation spanning from open world economy, infrastructural connectivity networks, and green development to scientific and technological innovation.

He said the Summit is a flagship platform for Hong Kong to promote the BRI and the city, as a "super connector" and "super value-adder", will provide world-class infrastructure and professional services support to facilitate trade and enhance projects.

The city's leader added that Hong Kong's external trade with Belt and Road economies other than the mainland has surged by almost 60 percent - 3.8 times the growth rate of its trade with all economies in the past decade.

“Last year, Belt and Road economies accounted for more than 43 percent of Hong Kong's external trade, in value, with the rest of the world other than the Mainland,” he added. “That compares with less than one-third in 2013.”

Lee stated that Hong Kong is also strengthening ties with Belt and Road regions beyond ASEAN. 

This year's Summit has introduced a new Green Chapter, in line with the theme, and will feature breakout sessions on green infrastructure, innovation and finance. 

Two new thematic breakout sessions, focusing on multi-dimensional connectivity and people-to-people exchanges, will also look at driving high-quality development of the Belt and Road.