Loretta Lee says InvestHK is taking steps to unlock new growth engines for HK while contributing to development of the Belt and Road Initiative

The Belt and Road Summit drew to a close in Hong Kong on Friday. Now in its 11th edition, the event reminded people of the Hong Kong Special Administrative Region’s important responsibility when it comes to overall national development. This annual gathering is a moment to take stock of the achievements of the past year, as well as a valuable opportunity to deepen connections with partners from around the world. The Invest Hong Kong team has seized this window to accelerate its investment promotion efforts, both here in Hong Kong and across global markets.

A major highlight of this year’s summit was the inaugural “GoGlobal” thematic chapter. Under the steer of Secretary for Commerce and Economic Development Algernon Yau, the GoGlobal Task Force has brought together cross-department and cross-sector resources to deliver one-stop support for Chinese mainland enterprises looking to venture overseas. In the first half of 2026, among the 413 businesses assisted by InvestHK, companies from Belt and Road Initiative partner economies registered healthy growth of nearly 10 percent.

Mapping out our initiatives, we have a dynamic, three-dimensional network in which strategic “points” connect into “lines”. In turn, these weave into “planes”. This geometrical framework reflects our strategic approach to investment promotion along the Belt and Road.

Points: Strategic footholds for targeted engagement

The “points” represent our footprint across the globe, and serve as the starting points for mutual trust and partnership. These require precise alignment, laying a solid foundation for future two-way connectivity.

Starting in Beijing earlier this year, our journey took us through a number of major mainland cities, including Chengdu, Guangzhou, Zhengzhou, and Shanghai, where we engaged and attracted enterprises keen to expand into overseas markets. Last week, my team and I traveled to Xiamen. On the eve of the 26th China International Fair for Investment and Trade, we partnered with the Ministry of Commerce, the Guangdong Economic and Trade Office and other authorities to host a two-way cross-border investment promotion session. That same afternoon, in collaboration with the Department of Commerce of Fujian province and other authorities, we held a dedicated exchange seminar for Fujian enterprises going global. The former offered a broad, cross-regional and cross-sectoral overview to help businesses frame their global expansion plans, while the latter drew on Fujian’s specific industrial strengths to facilitate targeted matchmaking.

In June, led by Chief Executive John Lee Ka-chiu, a delegation of over 70 business leaders visited Kazakhstan and Uzbekistan. The delegation secured 96 cooperation agreements and memorandums of understanding valued at over $1.65 billion. During this mission, InvestHK directly facilitated four corporate MoUs and seven two-way investment agreements.

Last month, I joined a GoGlobal Task Force business delegation led by Yau to Kuala Lumpur, Malaysia. There, we witnessed the official opening of the HKSAR government’s fourth economic and trade office in ASEAN, and organized a series of engagements to help bilateral engagement between mainland businesses and the Malaysian market through Hong Kong. Furthermore, our journey has extended across Africa, alongside sustained, in-depth engagement in Brazil, Indonesia, Vietnam, and Laos. These footholds may appear scattered across the globe, but each step has been taken with clear strategic purpose, turning potential connections into tangible two-way avenues anchored in Hong Kong.

Lines: Weaving two-way corridors

Once these footholds are established, the next step is to connect the points, translating individual engagements into steady streams of reciprocal investment and trade. These are what form the “lines”.

Our relationship with Central Asia is a compelling case, evolving into an ever-widening two-way street. A testament to this is Kazakhstan Railways (KTZ), which formally submitted its listing application to the Hong Kong Stock Exchange (HKEX) just over two months ago. I vividly recall our headquarters team traveling to Central Asia in October 2025 to explore new markets. Upon learning that KTZ was planning a listing but had not initially chosen Hong Kong, the team acted swiftly — meeting with the Kazakh deputy prime minister, various government ministries, and sovereign asset management platforms to articulate Hong Kong’s unique strategic value. Subsequently, in close collaboration with HKEX, we engaged in continuous discussions with KTZ’s parent company on listing structures and capital matching. This culminated in the signing of an MoU during the chief executive’s visit, sealing KTZ’s decision to list in Hong Kong. Together with the dual listing of Jiaxin International Resources in Hong Kong and on the Astana International Exchange (AIX) in 2025, KTZ’s decision underscores a growing two-way trend: Chinese capital participating in Central Asian infrastructure through Hong Kong, and Central Asian state-owned enterprises leveraging Hong Kong to tap global capital.

Beyond geographical connections, these “lines” also organically bridge commodities, renewable energy and green capital, nurturing fresh commercial opportunities. During the Central Asia mission in June, Henan Agricultural Investment Group and Hong Kong’s Henderson Land Group formed a strategic partnership to explore projects in Central Asia, including sustainable aviation fuel and corn-based sugar processing. At the Belt and Road Summit, I had the privilege of witnessing this partnership deepen further. Together, they will develop low-carbon bioenergy and promote the large-scale cultivation of oil crops. This collaboration creates synergies across ecology, energy and food security, setting a benchmark for Hong Kong private enterprises and mainland State-owned enterprises working hand-in-hand to expand overseas.

Equally solid progress has been achieved between Hong Kong and the Middle East. In May last year, I led a business delegation to Oman. Following nearly a year of dedicated effort by our sector specialists, we assisted Sohar International Bank from Oman in establishing its representative office in Hong Kong. As the first Omani bank to establish a presence in Hong Kong, and its very first outpost outside the Middle East, its significance in using Hong Kong to bridge investment flows between the Middle East and Asia speaks for itself.

Meanwhile, Mashreq Bank, the fifth-largest bank in the United Arab Emirates, previously decided to allocate additional personnel to expand its Hong Kong office. Meanwhile, the UAE’s largest financial institution, First Abu Dhabi Bank, plans to double the size of its Hong Kong presence. Amid ongoing global geopolitical fluctuations, Hong Kong’s robust financial infrastructure, free capital flows and Linked Exchange Rate System provide an indispensable “safe harbor” for enterprises across the Middle East and Asia.

We are actively replicating this proven model of building bridges alongside overseas government investment agencies. At last Wednesday’s summit, Chief Secretary for Administration Eric Chan Kwok-ki, witnessed the exchange of an MoU between InvestHK and the Zimbabwe Investment and Development Agency, progressively extending our reciprocal investment corridors deeper into the Global South.

Planes: Industrial ecosystems and strategic clusters

As individual lines intersect into a comprehensive network, they coalesce into “planes” — vibrant industrial ecosystems and investment clusters built on economies of scale. For example, the HKSAR government is going all out to build a world-leading hub for gold trading, clearing and storage.

In July, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu, visited Laos and signed an MoU to boost gold market collaboration between both sides. Our sector experts promptly followed up by attending the Lao Gold Festival 2026 in Vientiane, which was held from Sept 4 to 6, engaging in in-depth discussions with local financial institutions, accredited refineries and precious metal leaders to flesh out operational details. Moving forward, we will continue expanding across the Association of Southeast Asian Nations (ASEAN), Central Asia, the Middle East and Africa, broadening the horizon of our precious metals ecosystem. Hong Kong not only offers Belt and Road partners diversified financing instruments, such as offshore renminbi, but also connects them with cutting-edge mainland gold and precious metals technology, clean energy solutions for mining, and vast consumer markets across the mainland and ASEAN — jointly building a complete precious metals value chain.

Another core “plane” is Hong Kong’s new engine for future growth — the Northern Metropolis. Designed to integrate the upstream, midstream and downstream sectors of innovation and technology (I&T), the Northern Metropolis serves as a vital physical springboard for mainland enterprises expanding into Belt and Road markets. Last Tuesday, the GoGlobal Task Force hosted a seminar, introducing development opportunities in the Northern Metropolis to over 120 state-owned enterprise representatives, as well as detailing how to leverage Hong Kong for commodity hedging and international trade. In supporting the new industrial layout of a south-north dual engine (finance-I&T), InvestHK continues to play a pivotal business matchmaking role. Recently, we successfully connected e-commerce giant JD and Sino Land in forming a consortium that secured the pilot land parcel development in the Hung Shui Kiu/Ha Tsuen New Development Area, directly facilitating project implementation on the ground.

Finally, the third key “plane” lies in financial technology. Digital transformation across Belt and Road economies is accelerating. Leading mainland tech enterprises offer a wealth of practical experience and proven models, while Hong Kong serves as the essential bridge leveraging our international financial and professional services. Last week, we made a strong showing at the Inclusion Conference on the Bund in Shanghai, hosting a session entitled “Sailing the Digital Ocean” to explore cross-border compliance and capital deployment. Looking ahead to Hong Kong FinTech Week in November, we will build upon this Belt and Road momentum, welcoming top I&T firms and investors from Central Asia, the Middle East and Africa to forge new business opportunities.

This network of “points, lines and planes” in investment promotion is turning the spirit of the Belt and Road Initiative — centered on extensive consultation, joint contribution and shared benefits — into a tangible reality: each precisely targeted “point” of promotion efforts extends into a steady “line” of investment flow, ultimately converging into a collaborative industrial “plane”.

The question now is how do we sustain the vitality of this interconnected network? I am reminded of a conversation last week with a media delegation from the mainland and Belt and Road countries. The questions they asked most often were: “Have you been to our country or city?”, and “Do you know such-and-such local enterprise?”. In many ways, their questions offer the answer: go out into the world more often, remain curious about the development of Belt and Road markets, and nurture sincere dialogue. In an era of complex geopolitical dynamics, such multilateral communication and collaboration are more precious than ever.

Looking ahead, under the directional guidance of Hong Kong’s upcoming inaugural five-year plan and Policy Address, InvestHK will continue to deepen its investment promotion initiatives. This will in turn unlock new growth engines for Hong Kong while contributing to the high-quality development of the Belt and Road Initiative.

The author is associate director-general of investment promotion, Invest Hong Kong.

The views do not necessarily reflect those of China Daily.