Following are the special remarks by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the 10th Belt and Road Summit – Business Networking Luncheon on "Connecting Growth Corridors – ASEAN and the Belt and Road" today (September 11):
 
Luanne (Chief Executive Officer, Hong Kong, of The Hongkong and Shanghai Banking Corporation Limited (HSBC), Ms Luanne Lim), Algernon (Secretary for Commerce and Economic Development, Mr Algernon Yau), Professor Frederick Ma (Chairman of the Hong Kong Trade Development Council), distinguished guests, ladies and gentlemen,
 
     It is my great pleasure to join you at this exclusive luncheon hosted by HSBC during the Belt and Road Summit. My heartfelt congratulations to HSBC for convening this distinguished gathering of ASEAN (Association of Southeast Asian Nations) and local business leaders under the theme "Connecting Growth Corridors – ASEAN and the Belt and Road". This occasion exemplifies Hong Kong's pivotal role as a super connector, fostering open dialogue and forging partnerships to drive the Belt and Road Initiative (BRI) forward.
 
     Since its inception in 2013, the BRI has been guided by the core principles of connectivity, openness, mutual respect, and shared prosperity. Over the past decade, its scope has expanded remarkably, fostering co-operation across continents through physical infrastructure, trade networks, and increasingly, technological collaboration. This dynamic evolution positions the BRI as a powerful platform for sustainable growth, with Hong Kong as a key contributor, facilitating seamless connections between Mainland China, ASEAN, and global markets. Our strategic location, robust financial systems and world-class professional services make Hong Kong the ideal hub for BRI-related investments and partnerships. In fact, we have signed Comprehensive Double Taxation Agreements with 37 Belt and Road jurisdictions, facilitating business expansion and investment.
 
     Hong Kong's financial markets are thriving, reflecting the confidence and resilience that underpin our role in the BRI. In the first eight months of this year, our stock market achieved an average daily turnover of US$31.9 billion, a 132 per cent increase over the same period of last year. Funds raised through initial public offerings (IPOs) soared to US$17.3 billion, up 579 per cent. These figures highlight Hong Kong's status as a premier global IPO hub, offering BRI enterprises unparalleled access to capital, underpinned by our rule of law, simple tax regime, and deep market connectivity. Earlier in August, a mining company rooted in Kazakhstan successfully listed on in our market, showcasing the results of co-operation between Hong Kong and Central Asia in advancing the BRI initiative. This also marks the Central Asia's first case of an IPO financed in RMB (Renminbi).
 
     Besides the stellar performance of our stock market, we have also proudly launched a company redomiciliation regime this year, and some leading international insurance companies have already taken advantage of that. This initiative provides a secure and efficient pathway for overseas companies to redomicile to Hong Kong, enabling them to leverage our financial ecosystem to support more expansion initiatives including BRI projects. With the Companies Registry's efficient approval process and our collaboration with offshore jurisdictions to streamline deregistration, we invite businesses to make Hong Kong their strategic base for navigating global uncertainties and driving BRI growth.
 
     And on the risk management front, Hong Kong is solidifying its position as Asia's leading insurance hub, critical for BRI enterprises managing complex cross-border projects. With some 160 authorised insurers and last year's gross premiums of HK$637.8 billion, Hong Kong ranks first in Asia for insurance density and globally for penetration at 18.2 per cent. Captive insurance, offering tailored risk solutions, is gaining momentum, with new entrants like HSBC bringing our total to six captive insurers. Our incentives, including a 50 per cent profits tax reduction, simplified capital requirements and a robust pool of insurance professionals, make Hong Kong the ideal base for managing BRI-related risks, from infrastructure to cybersecurity.
 
     Looking ahead, Hong Kong is committed to deepening BRI co-operation. Through initiatives like mutual market access with the Greater Bay Area, proactive outreach to global enterprises, and promotion of our insurance and financial strengths, we are empowering ASEAN and BRI partners to seize opportunities, manage risks, and achieve shared prosperity.
 
     In closing, I commend HSBC for hosting this platform to strengthen ties and drive collaboration. Let us harness Hong Kong's unique advantages to advance the Belt and Road Initiative, connecting growth corridors and building a sustainable future together. Thank you, and I wish you a productive and inspiring luncheon.

Ends/Thursday, September 11, 2025
Issued at HKT 15:00

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