Challenges on China’s belt and road are real and many, and they point to a role for Hong Kong

Bernard Chan says experience shows cultural issues and community relations can be a worry for the Chinese companies and investors venturing abroad, and this is where Hong Kong, with its unique combination of business know-how and soft skills, can help

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The Belt and Road Summit in Hong Kong was held on June 28. Hong Kong’s expertise in legal, financial and other professional services is well known. But it also has unique cultural ties with the mainland, the rest of Asia and the West. Photo: David Wong

Published: 5:04pm, 5 Jul 2018Updated: 7:51pm, 5 Jul 2018

China’s Belt and Road Initiative is approaching its fifth anniversary. To many officials and some in the business sector, the belt and road means exciting opportunities. They see a hugely ambitious concept of improving economic connectivity throughout Asia and other parts of the world.

However, not everyone feels the same way. Some businesses and professions see few openings for them in the initiative – and it is true that not everyone will benefit. Some commentators are also urging people to be cautious. Just a few days ago, the commissioner of Hong Kong’s Independent Commission Against Corruption warned investors of the dangers of graft in some of the countries concerned.

The initiative has also started to attract some controversy, for example, on the way infrastructure projects affect local communities.

Hong Kong held its third Belt and Road Summit last week. It brought together participants from around the world, and many spoke frankly about the challenges facing many infrastructure and other investment activities connected with the initiative. I chaired a panel in which several prominent business figures discussed their experiences in specific projects. They were open about the problems they faced.

Their experience is not only relevant to businesspeople planning to get involved in the belt and road, or other investments or contracts in new markets. They have something to teach us all about working across borders and cultures. They also offer us some ideas on how Hong Kong can contribute.

Challenges on China’s belt and road are real and many, and they point to a role for Hong Kong

Watch: Highlights of the Belt and Road Summit in Hong Kong, 2018