The 2016-17 Budget
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Budget Speech

Belt and Road Initiative

80.    Our nation is taking forward the Belt and Road Initiative, a strategy for long-term development.  The outcomes will not emerge overnight.  Yet, what is certain is that the emerging markets along the routes are likely to become the new impetus for the future development of Hong Kong.  Government will continue the promotion efforts to deepen the understanding of the business sector and the community of these new markets.

81.    HKTDC has launched a series of measures, including the creation of websites, to provide information on relevant business environment to assist the sector in their business expansion.  In addition, Government and HKTDC will jointly organise the inaugural Belt and Road Summit in May this year.  We shall invite key officials from the markets along the routes, representatives of international organisations and business sectors as well as experts in related trades to engage in in-depth exploration of co-operation opportunities and the unique role that Hong Kong can play.

82.    I led the first Belt and Road Initiative business mission of the Hong Kong Special Administrative Region Government to visit Hungary, Poland and Germany last September.  I plan to lead another business mission to Central Asia this year.  The visit will enable participants from the business sectors to gain first-hand knowledge about the development potential and business opportunities in the region.

83.    Financial services will be in growing demand in emerging markets.  Hong Kong is well-equipped to serve as a platform for financing and fund management for these markets.  I have asked HKMA to establish an office to facilitate the financing of infrastructure projects and provide a platform for pooling the efforts of investors, banks and the financial sector to offer comprehensive financial services for various infrastructure projects.

84.    The Asian Infrastructure Investment Bank (AIIB) was officially launched last month.  We shall continue our active discussion with AIIB and the Central Government on Hong Kong's participation in AIIB as a non-sovereign territory.  We shall also continue to support the work of AIIB, and seek to leverage our expertise to service AIIB in capital markets financing, asset management and dispute resolution.

85.    The success of the two sukuk issuances by Government in the past two years has demonstrated the ability of our financial market to support the launch of Islamic financial products and meet their financing needs.  We shall seize the opportunity to issue the third sukuk in a timely manner.


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Last revision date : 24 February 2016