Mainland China and Hong Kong leaders strengthen Belt and Road ties with Eastern Europe and Central Asia, facilitating 14 MoUs.

In May, a Mainland-Hong Kong business delegation explored business opportunities along Belt and Road markets, embarking on the visits to Hungary and Kazakhstan, before returning via Xinjiang.

The mission was led by Fan Shijie, Director General of the Department of Taiwan, Hong Kong and Macao Affairs of the Ministry of Commerce, and Nicholas Ho, Commissioner for the Belt and Road of HKSAR Government.

This mission strengthened government and business ties and expanded multi-party cooperation opportunities, facilitating 14 MoUs covering market development, financial payments, innovation, investment cooperation, logistics and other sectors.

The group included some 40 members from Hong Kong and Mainland China, comprising enterprises, SMEs, start-ups, chambers of commerce and professional services. Representatives from green development and innovation entities – covering industries, such as finance, construction and engineering, new energy, technology and legal – also joined the mission.

Stephen Liang, Hong Kong Trade Development Council (HKTDC) Assistant Executive Director outlined the mission’s goals: “Our visit aims to introduce the latest developments and opportunities in Mainland China and Hong Kong, and enable mainland and Hong Kong enterprises to learn more about market opportunities and trends along the Belt and Road, explore cooperation opportunities and promote mutual development.”

“Hong Kong’s unique advantages, along with a professional services sector that has rich international experience, makes it an ideal partner for companies around the world, which seek to explore the Guangdong-Hong Kong-Macao Greater Bay Area and huge mainland market and jointly develop Belt and Road economies.”

Hungary, the delegation's first stop, is one of the mainland's closest trading partners in Europe and the first European country to sign an MoU as part of the Belt and Road Initiative (BRI). The country presents many opportunities, especially in electric vehicle production, digital solutions for enterprises and ESG compliance services along with financial services and logistics.

Another important Belt and Road partner, Kazakhstan is the largest economy in Central Asia, accounting for more than half of the region's GDP.

The delegation met government officials, business leaders and representatives of chambers of commerce in both countries, visited a number of green and I&T companies and participated in business matching activities.

The delegation returned to China’s northwestern region of Xinjiang to visit supply chain hubs connecting China with near and distant Eurasian countries, China-Europe freight railway systems, other enterprises and important construction projects supporting the BRI.

During the mission, four MoUs and agreements in Budapest as well as three in Astana and five in Almaty, Kazakhstan’s capital and largest city, respectively, were facilitated. The return leg through Urumqi yielded two more MoUs.

MoUs facilitated in Budapest were between:

• HKTDC and Association of Chinese Enterprises in Hungary
• Chinese Manufacturers' Association of Hong Kong and Association of Chinese Enterprises in Hungary
• Universal Translink Holding Group LLC. and Wu Song Network Technology (Hong Kong) Co., Ltd.
• Fly Meta Holding Group LLC. and Wu Song Network Technology (Hong Kong) Co., Ltd.

In Astana, the following MoUs/ agreements were signed:

• CoCoon Ignite Ventures and Astana Hub International IT Startup Technology Park
• AnchorX Limited and Astana International Financial Centre
• STECOL Co., Ltd. Kazakhstan Branch and LIMITED LIABILITY PARTNERSHIP "SIENA"

Those signed in Almaty were:

• Hong Kong General Chamber of Commerce and Almaty Chamber of Entrepreneurs of the Republic of Kazakhstan (Atameken)
• AnchorX Limited and Aral Petroleum Capital
• Templewater Limitedand Woman in Logistics and Transportations (WiLAT) Central Asia
• China International Capital Corporation Hong Kong Securities Limited and Kumtor Gold Company CJSC
• Kazakhstan Branch of PowerChina Electric Engineering and Institute “KazNIPIEnergoprom” JSC

The MoUs signed in Urumqi were:

• D&G Technology Holdings Co., Ltd. and 烏魯木齊匯聚路面工程有限公司
• D&G Technology Holdings Co., Ltd. and 克拉瑪依市同進建材有限責任公司

This mission was jointly organised by the Ministry of Commerce, Hong Kong SAR Government’s Commerce and Economic Development Bureau’s Belt and Road Office, and co-organised by the HKTDC and the China International Contractors Association.

Original article published in https://hkmb.hktdc.com