According to Paul Chan, the Financial Secretary of the Special Administrative Region (SAR) government of Hong Kong, over the past week, Hong Kong has continued to expand and deepen cooperation with regions associated with the Belt and Road Initiative, as well as with the Global South. This interaction covers the fields of finance, innovation, and technology (I&T), as well as the transition to a green economy, spanning from the Middle East to Central Asia.
Supported by the national 15-Year Development Plan until 2030, which supports the city's aspiration to become an international I&T center while strengthening its position in finance, shipping, and trade, Hong Kong has received strong support from the central government to accelerate partnerships with the Global South, as noted by Chan in his blog.
He noted that mutually beneficial cooperation under the Belt and Road Initiative, covering regions from the Middle East to Central Asia, is transforming from individual projects into an institutionalized network structure.
This interregional cooperation has significantly expanded in the field of I&T, facilitated by Hong Kong's strong research capabilities and close integration with the technological and industrial supply chains of the Greater Bay Area (Guangdong-Hong Kong-Macao).
Last week, the 11th Belt and Road Summit was held in Hong Kong, attended by over 6,000 officials and business leaders from more than 70 countries and regions. During the summit, more than 60 cooperation agreements and memorandums of understanding were signed.
Hong Kong's merchandise trade volume with Belt and Road Initiative partner countries increased by nearly 17% last year, reaching approximately $323 billion. Furthermore, official data shows that over 100 enterprises from Belt and Road partner countries have been listed on the Hong Kong Stock Exchange, with a total market capitalization exceeding HK$340 billion (approximately $43.4 billion).
Hong Kong's internal I&T fund continues to grow: the number of startups has increased from approximately 1,500 in 2015 to over 5,200 in 2025, and the Science Park and Cyberport have helped nurture about 20 'unicorn'-level companies.