This morning's opening session was joined by Carrie Lam, Chief Executive of the HKSAR; Gao Yunlong, Vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, and Chairman of the All-China Federation of Industry and Commerce; Dr Peter K N Lam, Chairman of the HKTDC; Wang Wentao, Minister, Ministry of Commerce, the People's Republic of China; Hao Peng, Chairman, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the People's Republic of China; Ning Jizhe, Vice Chairman, National Development and Reform Commission, the People’s Republic of China; Liu Guangyuan, Commissioner, Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR; and Klaus Schwab, Founder and Executive Chairman, World Economic Forum.

Values of multilateralism have never been more vital – Carrie Lam

Delivering the opening address, Carrie Lam said: “Today, amid the continuing spread of protectionism, the values of multilateralism have never been more vital. It’s why this year’s Belt and Road Summit is focused on regional and international trade, with particular attention given to the Guangdong-Hong Kong-Macao Greater Bay Area and the Regional Comprehensive Economic Partnership, or RCEP. These two immensely promising developments are destined to work hand-in-hand with the Belt and Road Initiative to boost the manifold benefits of multilateralism.”

Addressing the opening session in his keynote speech, Gao Yunlong said: “Hong Kong is an important platform for the development of the Belt and Road. Over the years, Hong Kong has made full use of its advantages in international finance, trade and professional services to play an important role as a super-connector for developing the Belt and Road. The 14th Five-Year Plan and the Long-Range Objectives through the Year 2035 support Hong Kong to build a functional platform for developing the Belt and Road. This fully reflects the Central Government's trust and support for Hong Kong. We believe that as an important facilitator of the 'dual circulation', Hong Kong, the Pearl of the Orient, will become even more brilliant in the future."

Leveraging Hong Kong's advantages to maximise potential – Dr Peter K N Lam

In his welcome remarks, Dr Peter K N Lam said: “The theme of this year’s summit is ‘Driving Growth through Fostering Regional and International Trade’. Leading experts and leaders are sharing insights on how businesses can leverage developments such as the RCEP and Greater Bay Area to capture new opportunities along the Belt and Road and beyond. Participants can also catch up on the latest developments in Hong Kong which can help them to maximise this potential. The summit continues to provide a powerful online platform to make connections and share ideas.”

Giving the perspective of the World Economic Forum, Klaus Schwab mentioned that as the world faces the pandemic and its economic fallout, and we experience the transformative impact of the Fourth Industrial Revolution, there is a greater need for more regional and global cooperation, mainly in four areas: digital trade and governance, tackling the COVID pandemic. investment in green infrastructure and global supply chains.

Policy Dialogue session explores impact of economic policies

Following the opening session, the Policy Dialogue session helped businesses to understand the policies of different countries and regions to give them a head start in capturing Belt and Road opportunities. Moderated by Edward Yau, Secretary for Commerce and Economic Development of the HKSAR, the session explored the development trends resulting from various economic policies, featuring officials from countries and regions along the Belt and Road. Speakers included Dato Lim Jock Hoi, Secretary-General of ASEAN; Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Minister of Finance and Economy II, Brunei Darussalam; Pan Sorasak, Minister of Commerce, the Kingdom of Cambodia; Jerry Sambuaga, Vice Minister of Trade, Indonesia; Ramon Lopez, Secretary, Department of Trade and Industry, the Philippines; Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, Republic of Singapore; Sansern Samalapa, Vice Minister of Commerce, Thailand; and Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, United Arab Emirates.

Plenary session examines how Belt and Road and RCEP can foster global growth

One of the plenary sessions held this morning ran under the title “Belt and Road and RCEP: Enhancing Regional Business Connectivity”. Paul Chan, Financial Secretary of the HKSAR, delivered the welcome remarks. The session featured industry leaders from Hong Kong, Mainland China and the RCEP market, including Victor Chu, Chairman & CEO, First Eastern Investment Group; Sean Chiao, Asia Chairman and Global Business Line Chief Executive, Buildings and Places, AECOM; Huang Zhaohui, CEO and Chairman of Management Committee, China International Capital Corporation Limited; Wang Cuijun, Director, China Merchants Group Limited; Suroj Lamsam, CEO & President, LOXLEY Public Company Limited in Thailand; and Michael Tan, President & Chief Operating Officer, LT Group in the Philippines. The speakers provided insights and analysis on how the RCEP, signed last November, and the Belt and Road Initiative can contribute to growth, cooperation and development as the global economy begins to show signs of recovery following the pandemic.

Breakout sessions explore hot-button issues on first day of summit

Five thematic breakout sessions were held this afternoon covering topics including “RCEP: Fostering Post-pandemic International Infrastructure Cooperation along the Belt and Road”, “Fostering Trade and Resolving Disputes in the Post-COVID Era – Hong Kong’s Legal and Dispute Resolution Services”, “‘Greener’ Bay Area: through the Sustainable Finance Lens”, “Belt and Road Opportunities for SMEs”, and “Supporting the National Strategy of Dual Circulation through Captives and Reinsurance”. Project owners are also invited to attend project pitching sessions to explore potential investment projects in the areas of energy, natural resources and public utilities. More thematic breakout sessions and project pitching sessions will be held tomorrow – details of the programme, speakers and partner organisations can be found at https://www.beltandroadsummit.hk/tc/programme/programme.