New deal marks shift in Hong Kong’s plan to capitalise on 'Belt and Road Initiative'
City to sign agreement to be part of nationwide blueprint in China’s global development strategy
7 things you need to know from Hong Kong leader Carrie Lam’s policy address
The planned agreement marks a shift in the approach Hong Kong has taken from foraying on its own into about 65 countries located along the Belt and Road Initiative, to being part of a coordinating and collaborative effort with the central government.
“We must leverage the unique advantages of the HKSAR and the support we receive from the central authorities,” Lam said in her speech.
She promised to step up communication with the central government over the policy directions and implementation of the trade initiative based on “what the country needs” and “what Hong Kong is good at”.
The Belt and Road Initiative, that Chinese President Xi Jinping floated in 2013, is an economic strategy to connect Asia with Europe and Africa with a web of port, railway and motorway links and open up trade and commerce in about 65 countries.