ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Belt and Road

Hong Kong hosts Belt and Road expo amid ongoing protests

City walks delicate line between business and politics

Hong Kong's skyline from Victoria Peak: Outshined by booming metropolises such as neighboring Shenzhen, Hong Kong's government and business leaders are eager for more robust economic ties to the mainland.   © AP

HONG KONG -- An event promoting Beijing's Belt and Road infrastructure initiative was held in Hong Kong on Wednesday, as protests continue over mainland China's growing clout over the city.

This is the fourth Belt and Road Summit to be hosted by the Hong Kong government. China International Capital and HSBC were among the attendees.

"Hong Kong, China's most competitive and international city, will play a significant role in complementing this strategic direction," Hong Kong's chief executive, Carrie Lam, said at the event.

More than two decades after Hong Kong was handed over to China, the city is being outshined by booming mainland metropolises like Shenzhen, China's Silicon Valley. Hong Kong's government and business elites are eager to bolster economic ties to the mainland, and to tap demand for financial services and insurance tied to the Belt and Road effort.

Bank of China's booth at the Belt and Road Summit in Hong Kong on Wednesday. (Photo by Takeshi Kihara)

About 30% of respondents thought Hong Kong would benefit from the proposal to turn the city, Macao and the mainland's Guangdong Province into a giant metropolitan area, according to a March survey by the Chinese University of Hong Kong.

Meanwhile, 45% were concerned that this would further blur the line between Hong Kong and the mainland.

Fitch Ratings recently downgraded Hong Kong for the first time in 24 years to AA from AA+. "The gradual rise in Hong Kong's economic, financial, and sociopolitical linkages with the mainland implies its continued integration into China's national governance system, which will present greater institutional and regulatory challenges over time," the agency said in a statement.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends June 30th

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media