A constellation of companies active in digital and green Silk Road initiatives are looking to shine at the upcoming Belt and Road Summit in Hong Kong, tapping into the city’s role as a one-stop business platform for infrastructure investment and economic growth, according to Nicholas Ho Lik-chi, commissioner for Belt and Road of the Hong Kong Special Administrative Region government.

This year’s event, marking its 10th edition on Wednesday and Thursday, is set to attract a larger number of business representatives than in previous years, signaling a growing readiness for collaboration and co-development amid mounting global uncertainties, said Ho, who leads the Belt and Road Office under the Commerce and Economic Development Bureau.

The Digital Silk Road, part of the Belt and Road Initiative (BRI), focuses on building digital infrastructure and promoting Chinese tech companies globally, while the Green Silk Road emphasizes sustainable, low-carbon development and green technology within the BRI framework.

As a keen participant in both initiatives, Shuangdeng Group, one of China’s largest makers of batteries and energy-storage systems, is well on track to relocate some major operations to Hong Kong, establishing the city as its regional headquarters.

The company decided years ago to anchor its strategy to Hong Kong, recognizing its status as a “vital bridge in Belt and Road cooperation”, said Su Xiaoyan, board advisor of Shuangdeng Group.

In May, Shuangdeng President and Chairman Yang Rui joined a delegation led by Hong Kong Chief Executive John Lee Ka-chiu to the Middle East, where they inked investment agreements in the energy storage, green power, and supply chain sectors with local institutions.

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Last month, Hong Kong and Saudi Arabia signed a memorandum of understanding to enhance infrastructure information exchanges and facilitate market access for the city’s professional services, a move Lee described as “another significant milestone in the collaboration between the two sides” under the BRI.

Shuangdeng made a stellar debut on the Hong Kong stock exchange in August, with its HK$850 million ($109 million) listing oversubscribed by nearly 3,900 times in the retail tranche and about 19 times in the international tranche.

Vriko Yu, co-founder and CEO of Archireef, who attended the summit last year, said she cherished the opportunity to gain firsthand insights into “how Hong Kong-sourced solutions can be effectively applied to meet the actual needs of BRI markets”.

Founded in 2020, the homegrown startup specializes in innovative approaches to restoring coral reefs, including the world’s first 3D printed reef tiles made from clay. In 2022, it attracted investment from the United Arab Emirates’ sovereign investor Abu Dhabi Developmental Holding Co, and earlier this year, it signed a deal with partners in Saudi Arabia.

The Middle East’s pressing demand for marine biodiversity conservation presents huge opportunities. However, Yu said that expanding into the region requires navigating vastly different business cultures and norms, where government support is crucial.

“The scale of the opportunity opens a huge window in front of our Hong Kong companies — sometimes so huge it makes us easily get lost,” Yu said. “We need clear directions on how to find the right person in charge to get things off the ground in the right way. This is why the SAR government really gives us a leg up by offering all the down-to-earth facilitation and coordination.”

Under the network between the Commerce and Economic Development Bureau, the Hong Kong Trade and Development Council, and Invest Hong Kong, the Belt and Road Office now covers nearly 99 participating countries and regions, serving as a “coordinator and promoter”, Ho said.

“Looking ahead, tech firms in Hong Kong — be they mechanical technology-related, new quality productive forces-related, locally nurtured or from the Chinese mainland — have all the elements required to contribute their solutions to more than 150 countries and regions involved in the BRI,” he said, adding that the going overseas trend is “a new, major growth engine”.

Johnson Wong, chief of staff at Plaza Premium Group, a global airport hospitality provider, also highlighted Hong Kong’s strategic position. “The nature of our business is built on the hubs and networks. The BRI stands as a vast initiative that connects the dots to build up the network across the globe,” he said.

Wong’s company operates the world’s first and largest independent airport lounge network across 600 airports in 150 countries under 14 brands.

With backing from the Chinese mainland and unique geographic advantages, Hong Kong remains a well-connected hub. “Riding high on a free economic system, a well-established legal regime and a highly-efficient government, the city and its promising companies are well-positioned to make a meaningful impact in countries and regions involved in the BRI,” Wong said.