BRI bases in HK double

Staff reporter and Reuters

The number of headquarters set up by countries under the Belt and Road Initiative in Hong Kong has doubled to 168 last year from 2017, and the SAR will continue seeking to broaden connections with other regions, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said at a forum in Beijing.

Hong Kong's direct investment in BRI countries also reached US$120 billion (HK$936 billion) in 2021, with an average growth rate of close to 15 percent each year.

BRI countries could explore more financing and investments options via Hong Kong, Hui said, as the yuan ecosystem continues developing in the city.

In other news, Qatar's sovereign wealth fund Qatar Investment Authority is examining opportunities to invest in China's retail, healthcare, tech and logistics sectors, said Abdulla Ali Al-Kuwari, head of the fund's unit Qatar Investment Authority Advisory (Asia Pacific).

Those opportunities could involve public and private companies, Al-Kuwari said yesterday during the Caixin Summit in Beijing.

Middle East investor activities in China have picked up as countries such as Saudi Arabia aim to cut oil dependence and boost new industries through partnerships with Chinese companies.