Full text of keynote speech of China's top legislator at Belt and Road Summit in Hong Kong (Part 2)

Ladies and Gentlemen,

This summit on the Belt and Road takes place in Hong Kong not only because Hong Kong is a Special Administrative Region of China, but also because it is a key link for the Belt and Road.

In designing its 13th Five-Year Plan and the Vision and Actions for the Belt and Road, the central government has made it a major policy to support Hong Kong's participation in the Belt and Road development.

We believe that Hong Kong, with the following unique advantages, will be able to make important contribution to this endeavor.

First, advantages from Hong Kong's location. In terms of maritime transport, Hong Kong sits on the busiest international sea route and boasts developed port economy. It is also an important gateway in the landscape of China's opening-up. On the land, Hong Kong is next to Guangdong Province.

With modern means of connectivity, Hong Kong has easy, efficient and economic access to China's mainland, thus serves as a hub of transportation and international communication. In terms of air transport, Hong Kong has the world's busiest international airport, topping the list in passenger and goods transport.

Furthermore, Hong Kong borders on the Pearl River Delta, one of the three economic growth poles of China and the pioneer of China's institutional and structural reform and the country's pursuit of innovation-driven development.

Moreover, Hong Kong is next to Shenzhen, a center for innovation and entrepreneurship. As a natural partner, Hong Kong can join forces with China (Guangdong) Pilot Free Trade Zone, the Qianhai Shenzhen-Hong Kong cooperation zone and Fujian Province, which is a core area for the 21st Century Maritime Silk Road. Hong Kong's strength in the service sector and that of its neighboring provinces in manufacturing have great potential in exploring the international markets.

Second, advantages as first mover of opening-up and cooperation. As a free port from the very beginning and the world's freest economy for 22 years in a run, Hong Kong maintains close economic and trade relations with most countries and regions in the world.

After the return of Hong Kong to the motherland, an all-round, wide-ranging and high-level form of exchange and cooperation between the mainland and Hong Kong has taken shape. Many opening-up policies of the mainland were first experimented and practiced in Hong Kong.

This has brought experience for the mainland to open wider, and offered rare opportunities for Hong Kong itself. This offers a good foundation for Hong Kong to seize new opportunities arising from the Belt and Road Initiative and achieve new progress.

Third, advantages in professional services. Hong Kong is a developed economy with a diverse and advanced service sector, an important international financial, shipping and trade center with the world's largest offshore RMB market, and one of the world's most favorite places of arbitration.

In accounting, law, consultancy, tourism, infrastructure development, engineering design and other fields, Hong Kong may offer a variety of services to countries along the Belt and Road routes.

I understand that Hong Kong consultancy companies were appointed by the Chinese Ministry of Commerce as project supervisors in two Chinese assistance infrastructure projects in Nepal and Cambodia.

Many buildings in Nepal collapsed in the devastating earthquake, yet the projects under their supervision were largely intact. This shows the superior quality of Hong Kong's professional services, and proves that such services have a big role to play in the Belt and Road development.

Fourth, advantages gained from cultural and people-to-people interactions. For decades, Hong Kong has been an important window for cultural exchanges between the East and the West, and for interaction among various civilizations. This has created a distinctive culture that integrates the Chinese and Western civilizations.

In an open and inclusive cultural atmosphere, Hong Kong has inherited and carried forward the traditional Chinese culture, and created a modern culture of its own, represented by movies, TV and music programs, that has a major influence in the wider Chinese language circle. Hong Kong's martial arts movies have loyal fans across the world and have influenced generations of people.

Southeast Asia is an important region for Belt and Road development thanks to people-to-people connections. Lots of ethnic Chinese went there from Guangdong via Hong Kong in the early years, and many ethnic Chinese doing business there have their origin in Guangdong, which like Hong Kong, is part of the Cantonese culture circle. This laid down the cultural foundation for deepening exchange and cooperation.

Ladies and Gentlemen,

The central government attaches great importance to Hong Kong's prosperity and stability, and its role in the national strategy. We will support Hong Kong in building on its existing strengths and exploring new advantages, support closer exchange and cooperation between Hong Kong and the mainland, and support Hong Kong in expanding economic and trade ties with the world.

Hong Kong, for its part, also needs to take a more active part in the national development strategy. I noticed that during this year's annual NPC and CPPCC sessions, many NPC delegates and CPPCC members from Hong Kong contributed their ideas on Hong Kong's role and participation in the Belt and Road development.

The Chief Executive and the SAR government regard the participation in the Belt and Road development as a major opportunity for Hong Kong's development, and have introduced many policies. There are also lively discussions on this topic in the Hong Kong society.

I hope that Hong Kong, with a broader mind and vision, would fully seize the major opportunities of the Belt and Road, link its own development with the Belt and Road, and further bring out its own advantages. The central government will support Hong Kong in playing an active role in the following aspects:

First, respond to the Belt and Road, and build a platform of comprehensive services. We support Hong Kong's agencies and professionals in offering accounting, design, consultancy and other professional services to the Belt and Road.

We support Hong Kong's efforts to build a center for international legal and dispute resolution services in the Asia Pacific, in order to provide legal and arbitration services to the Belt and Road.

We support Hong Kong in developing high added-value shipping industry, and building a multi-functional shipping center for the 21st Century Maritime Silk Road. And we support Hong Kong companies in leveraging their competitiveness in research, development, management, innovative industry, marketing and logistics, and participating in real economy cooperation such as production capacity cooperation along the Belt and Road. This will help secure Hong Kong's competitiveness in international division of labor.

Second, facilitate capital flows and promote RMB internationalization and the development of the Belt and Road investment and financing platform.

We will encourage mainland companies to use Hong Kong's platform to offer more low-cost capitals for the Belt and Road. We support Hong Kong in strengthening its position as a hub for global offshore RMB business, and develop RMB business along the Belt and Road.

We support Hong Kong's assistance in investment, financing, asset management and other financial services for infrastructure projects, so as to widen the financial channels for the Belt and Road. And we support Hong Kong in offering insurance and reinsurance services for the Belt and Road to offset and reduce risks.

Third, promote cultural exchanges for greater mutual understanding among the people along the Belt and Road. We support different forms of cultural and educational cooperation between Hong Kong and the countries along the routes, and the development of a platform for personnel exchange.

We support friendly and closer people-to-people exchanges between Hong Kong and the cities along the Belt and Road.

We encourage Hong Kong's business associations, social groups, think tanks and other organizations in organizing research, promotion, training, study tours and other events related to the Belt and Road. These exchange and cooperation will help increase mutual understanding among the peoples along the Belt and Road.

Fourth, deepen cooperation with the mainland and jointly develop markets along the Belt and Road. We support Hong Kong in fully tapping its advantages as the center in multiple areas, deepening cooperation with coastal provinces and cities in professional services and talents with global vision, and elevating cooperation through innovative models.

We encourage Hong Kong to work with inland provinces, autonomous regions and municipalities in developing overseas businesses, build a multi-level form of cooperation at different parts of the value chain, and jointly explore markets along the Belt and Road.

Ladies and Gentlemen,

This is the first year for the implementation of China's 13th Five-Year Plan, and an important year for the Belt and Road development. "A huge tree that fills one's arms grows from a tiny seedling; a nine-storied tower rises from a heap of earth."

This summit in Hong Kong is of great significance for building consensus for cooperation along the Belt and Road. I hope that all forum participants, as outstanding representatives from countries along the Belt and Road, will fully participate and share your wisdom in the following activities, to contribute to the joint effort for Belt and Road development.

Finally, let me wish Hong Kong greater achievements in its participation in the Belt and Road development, and wish this Summit a complete success. Thank you! Endit