'Bitter' US reaping Belt and Road benefits

The United States is "holding a grudge" against China's Belt and Road Initiative although it has reaped benefits from it, says Zheng Yanxiong, director of the central government's liaison office in Hong Kong.

Speaking at the two-day Belt and Road summit at the Hong Kong Convention and Exhibition Centre yesterday, Zheng said Beijing has been pressing the initiative forward to bring economic benefits to all countries concerned.

"Even the US, who holds a grudge [against] the initiative, is also a participant and has benefited from the Maritime Silk Road Initiative," Zheng said.

The Belt and Road Initiative is seen as a modern version of the silk road trade route.

"Back in 1784 when the US had just been established as a country and had yet to prosper, the US sent their Empress of China ship to trade with China. They even chose to set off on the day of President [George] Washington's birthday and the ship eventually arrived at Guangzhou city."

A US magazine at the time wrote that America would one day be as prosperous in terms of population and economy as China, according to Zheng.

The top Beijing official in Hong Kong said it will be the 240th anniversary of the Empress of China's first sailing in five months' time and the US is still benefiting from the Belt and Road Initiative although it has overtaken China in some aspects.

"The industrial and supply chains will be more reassuring with China's presence as popular, nice but cheap products are all provided by China," Zheng said.

Saying China presents companies a vast market, he called on the United States to treasure opportunities and stop being picky for the world to keep developing as a result of the initiative.

"Any behavior not beneficial to the Belt and Road Initiative is unpopular and harmful to others without gaining anything," Zheng added.

He said the initiative is a huge opportunity for Hong Kong and the city should fully use its advantages as a high-quality hub and important position to implement the initiative.

Vice Premier Ding Xuexiang, the top official in charge of Hong Kong and Macau affairs, said Beijing will support the city in maintaining its unique status and advantages for it to play a bigger role in the initiative.

He said the central government supports Hong Kong's early admission to the Regional Comprehensive Economic Partnership, hoping that the city can expand its economic and trade networks through regional collaboration.

Ding said the city should improve its financial services to better serve the financing demands of countries in the Belt and Road.

Hong Kong could put together professional services to leverage on their talents while enhancing cultural exchanges to promote interpersonal connection.

"The central government encourages Hong Kong to expand its collaboration with Belt and Road countries in education, technology, tourism and other areas to attract more students and scholars to study in Hong Kong," Ding stressed.

The summit, attended by senior officials and business leaders from Belt and Road countries and regions, is intended to be a platform to exchange views on multilateral cooperation and explore business opportunities.

michael.shum@singtaonewscorp.com