HK has distinctive advantages in Greater Bay Area: Chairman of China Merchants Group

Li Jianhong, chairman of China Merchants Group. [Photo by Zhan Qianhui/chinadaily.com.cn]

According to Li, Hong Kong's business climate kept improving since its return to China under the guidance of one country, two systems, providing a friendly hard and soft environment for a variety of companies from mainland and overseas.

"As the world's freest market and a society with rule of law, Hong Kong has provided a very outstanding business environment for China Merchants Group to compete with other international enterprises at a rather fair arena. The city's unique status as an international financial, shipping and trade center as well as the world's largest offshore renminbi hub enables us to combine our strength as a state-owned enterprise with the advanced mechanism of the global market," the chairman said.

Hong Kong has been playing an irreplaceable role in supporting the nation's economic takeoff since the reform and opening-up and it will keep maintaining its unique advantage as a super connector in the future by positively participating the Belt and Road Initiative and the construction of the Greater Bay Area, Li said.

"Compared with other major cities in the Greater Bay Area like Macao and Shenzhen and Guangzhou, Hong Kong enjoys distinctive advantages in finance, shipping and trade, which makes it an irreplaceable city in the area's future development," he stressed.

The chairman also encouraged Hong Kong to grasp the opportunity of the Belt and Road Initiative to push forward the nation's further opening-up and deepen China's connection with the rest of the world.

"Promoted under the new economic trend, the Belt and Road Initiative is aimed at a win-win development globally. It is initiated by China, but the benefit will be shared by the whole world. Our company will take advantage of our global resources and Hong Kong's favorable business atmosphere to carry out cooperation under the initiative," he said.

He emphasized that the B&R needs specific action besides slogan. It also needs a good business model to avert some countries' and regions' reliance on economic aid by China.

"The initiative is meant to export China's capability and develop investment destination's economy. Investors, no matter state-owned companies or private ones, should make sustainable investments and take profits into consideration, rather than providing one-way assistance," Li said.

China Merchants Group, as a state-owned enterprise based in Hong Kong, has made great contribution to the city's long-term prosperity and stability and will keep promoting the city's future development, Li said.