Roundup: HK business groups tour "Belt and Road" countries for investment opportunities

A number of major Hong Kong business groups have travelled overseas in April to explore investment opportunities, targeting a series of "Belt and Road" countries in particular.

"Central Asian economies are undergoing dynamic modernization reforms. They are very important for the 'Belt and Road' initiative," Eddy Li, president of the Chinese Manufacturers Association of Hong Kong, told Xinhua recently.

Li has just ended his eight-day business tour to three central Asian countries.

"These countries are rich in energy and natural resources. Moreover, they are the junction that connects Asia and Europe," Li said.

He hoped the visit can expose Hong Kong enterprises to investment opportunities in these countries.

Since China put forward the "Belt and Road" initiative, it has attracted attention from around the world, including China's Hong Kong Special Administrative Region.

The "Belt and Road" initiative will promote economic and social development in related countries, said Pansy Yau, deputy director of research of Hong Kong Trade Development Council.

She said enterprises are facing opportunities as well as challenges in terms of exploring export channels, breaking the industry's bottlenecks and extending sale chains.

Hong Kong SAR Chief Executive Leung Chun-ying said in a recent interview with media that the commercial, financial and services sectors are fairly interested in opportunities related to the "Belt and Road" initiative.

A number of survey groups from these sectors, he mentioned, had actually been sent to related countries in search of business opportunities.

The Chinese Manufacturers Association of Hong Kong has organized business tours to "Belt and Road" countries in April. Entrepreneurs from various industries travelled to Kazakhstan, Uzbekistan and Kyrghizstan.

The Chinese Manufacturers Association of Hong Kong, founded in 1934, is one of the four largest chambers of commerce in Hong Kong.

These above-mentioned countries all welcomed investments from Hong Kong, said Eddy Li.

He said these countries have cheap labor, rich resources and preferential duties, therefore, Hong Kong enterprises, especially medium and small-sized ones can consider investing in these countries.

The Hong Kong General Chamber of Commerce and Federal of Hong Kong Industries have also organized business tours to "Belt and Road" countries last month. Iran was one of the destinations of both groups.

Andrew Wells, who led the business group of the Hong Kong General Chamber of Commerce, said Iran is regaining its potential in international trade.

He said more Hong Kong enterprises should explore business opportunities in the country.

Lee Yuk Lun, president of Hong Kong Commerce and Industry Associations, expressed optimism towards business prospects under the "Belt and Road" initiative. His company is also being actively involved in taking part in projects of this initiative.

Hong Kong's enterprises should be better prepared so as to benefit from the initiative, he said.

China's top legislator Zhang Dejiang is scheduled for the Hong Kong Special Administrative Region from May 17 to 19 to attend the Belt and Road Summit sponsored by the Hong Kong SAR government.

Zhang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and Chairman of the Standing Committee of the National People's Congress, will also inspect the Hong Kong SAR during this trip. Endit