The 35th Hong Kong Book Fair will kick off in mid-July, with this year's theme centered on "Culinary Culture & Future Living." Among the featured publications is a unique book titled Hai Ming Asks Hai Ming: Hong Kong's Future Role in Jointly Building the Belt and Road Initiative. Co-authored by two identically named scholars—both holding PhDs and professorships—this rare academic collaboration explores Hong Kong’s strategic repositioning within the evolving Belt and Road framework.
The Evolving Belt and Road Landscape
Since its inception in 2013, the Belt and Road Initiative (BRI) has expanded beyond infrastructure and trade to encompass technology innovation, financial integration, green transitions, and cultural exchanges. However, rising geopolitical tensions and shifting global dynamics demand more adaptable and resilient cooperation models. As a unique platform under the "One Country, Two Systems" principle, Hong Kong must transition from a passive "intermediary" to an active "institutional innovator."
Leveraging Hong Kong’s Comparative Advantages
1. Technology and Talent as Key Drivers
Hong Kong’s Strengths:
- World-class universities and robust intellectual property protections.
- Growing startup ecosystems in Science Park and Cyberport.
- Government initiatives like the "Technology Talent Admission Scheme" attracting global innovators.
Strategic Recommendations:
- Establish transnational R&D alliances.
- Promote mutual recognition of standards.
- Facilitate commercialization of overseas research.
👉 Explore how Hong Kong can become a BRI tech hub
2. Financial Innovation for BRI Integration
Hong Kong’s Current Role:
- Leading RMB offshore hub with thriving capital markets.
- Popular destination for ASEAN and Middle Eastern firms listing bonds.
Future Opportunities:
- Develop a BRI-focused green project certification mechanism.
- Launch a multilateral currency settlement platform to reduce USD reliance.
Untapped Potential: Halal Economy and Islamic Finance
With over 2 billion Muslims globally, demand for halal products and Islamic finance is surging. Hong Kong’s prior success with Islamic bonds positions it to bridge China and Islamic markets, offering:
- Cultural Trust: International legal framework and religious freedom.
- Economic Opportunity: Expansion into halal food, tourism, and pharmaceuticals.
Challenges and Strategic Recommendations
| Challenge | Solution |
|---|---|
| Policy fragmentation | Create a cross-departmental BRI task force. |
| Talent retention | Enhance incentives for STEM professionals. |
| International perception | Strengthen global branding as a "super connector." |
FAQs
Q1: How can Hong Kong compete with Singapore in BRI finance?
A1: By specializing in RMB integration and green financial innovations tailored to BRI markets.
Q2: What makes Hong Kong suitable for halal economy partnerships?
A2: Its legal neutrality, cultural diversity, and existing Islamic finance frameworks.
Q3: Why focus on technology in BRI collaboration?
A3: Tech drives long-term regional competitiveness beyond traditional infrastructure.
👉 Discover Hong Kong’s roadmap for BRI 2.0
Conclusion
Hong Kong’s future in the BRI hinges on proactive institutional design and multidimensional partnerships. By embracing roles as a tech collaborator, financial pioneer, and cultural liaison, it can secure its position as a global leader in next-generation BRI initiatives.
Authors: Dr. Hai Ming Leung (Director, Silk Road Think Tank) and Hai Ming Leung (PhD in Information Engineering). The views expressed are solely the authors’.
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