Grenville Cross says as supply chains, capital flows, and innovation pathways are revolutionized, Hong Kong stands at the heart of an evolving landscape

On June 30, the launch of the ASEAN Chamber of Commerce (Hong Kong) (ACCHK) was announced at the South China Morning Post’s GBA-ASEAN Summit 2026. Its objective is to unite the 11 member states on a single platform from which they can promote closer ties with the Hong Kong Special Administrative Region, the Guangdong-Hong Kong-Macao Greater Bay Area, and the rest of China. By fostering business dialogue and commercial collaboration, trade between China and ASEAN will hopefully be boosted.  

As the HKSAR government’s Belt and Road commissioner, Nicholas Ho Lik-chi, explained, the Greater Bay Area and ASEAN are “two powerful and highly complementary engines”. He said that while each was formidable, “together we are unstoppable”. He pointed to the reshaping of supply chains, the redirection of capital flows, and the redefining of innovation pathways across industries, noting that “At the heart of this evolving landscape is Hong Kong.”

The ACCHK will provide practical support to its members and partners as they seek to expand into ASEAN markets. This will require them to leverage Hong Kong’s unique circumstances, including its distinctive constitutional status, networks, and infrastructure. Although the HKSAR already has successful arrangements with ASEAN’s individual member states, the ACCHK will help to bridge the gap more generally between the Greater Bay Area and ASEAN. Chief Executive John Lee Ka-chiu told the summit he was confident the chamber would enhance existing relations and promote trade and people-to-people ties.

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He explained that the HKSAR was uniquely positioned to connect ASEAN with the Greater Bay Area in a changing geopolitical landscape. It would enable “the smooth flow of trade, investment and innovation, creating opportunities to reward both regions”. This was music to the ears of not only the business community, but also of everybody who believes that shared prosperity should be the goal.

By way of background, Daryl Ng, the ACCHK’s founding patron and Sino Group chairman, is also the founding chairman of the Hong Kong-ASEAN Foundation (the Foundation), a nonprofit organization that promotes and deepens ties between Hong Kong and ASEAN. With the creation of the ACCHK, the Foundation’s ambitions are being taken to the next level, and a dynamic leadership team has been assembled.

Whereas the ACCHK will be chaired by Senior Counsel Daniel Fung, a former HKSAR solicitor-general, its deputy chairman is businessman Thomas Wu, who is also the Foundation’s convener. Other members include corporate leader Kin Chan; banker Christine Ip; entrepreneur Dato Seri Cheah Cheng Hye, who co-founded and chaired Value Partners Group Ltd (a major asset management firm); and a former Singaporean ambassador to both Germany and the Philippines, Jacky Foo, currently an alternate chairman of the Singapore Chamber of Commerce. It is a formidable team, more than capable of discharging its mission.

As Fung explained, the reasons for establishing the chamber in the HKSAR include its outward-facing platform, low-tax regime, free convertibility of currency, established legal system, and independent Judiciary. If, moreover, closer ties are forged with the bloc as a whole, it will hopefully also benefit the HKSAR more generally. After all, its application to join the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, has been on the table since Jan 1, 2022, and anything that can help to accelerate the accession process is welcome. There is reportedly little (if any) opposition to the HKSAR’s accession, and it is now hopefully only a matter of time.

Indeed, Lee called on ASEAN leaders to support the HKSAR’s bid to join the RCEP, and there is every reason to suppose they will. After all, ASEAN has been Hong Kong’s second-largest trading partner for 16 consecutive years, with bilateral trade in goods rising 29 percent year-on-year to $214 billion in 2025. Moreover, the number of ASEAN companies operating in Hong Kong continues to rise, and increased by almost 30 percent in the first six months of this year compared to the same period in 2025. The qualities that have enabled the HKSAR to contribute positively to the Belt and Road Initiative, including its economic vitality and legal skills, will also stand it in good stead elsewhere.

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Closer to home, the ACCHK has established the Northern Metropolis Expert Committee to promote the project’s development. It is already urging ASEAN business interests (and diplomats) to study this visionary scheme with a view to future engagement. Indeed, the Northern Metropolis, which has been described as an important platform for Hong Kong to fulfill its role of “bringing in and going global” under the national development strategy, will provide international enterprises with a gateway to not only the Greater Bay Area but also other Chinese mainland markets. As the Northern Metropolis seeks to attract outside enterprises, the ACCHK can undoubtedly help to facilitate its efforts.

By any yardstick, the ACCHK has got off to a good start. It is prescient, with Daryl Ng saying it would “fully support and work closely with our partners to connect businesses, institutions and leaders, turning concepts and ideas into real win-win opportunities for the Greater Bay Area, Hong Kong, and ASEAN”. Only time will tell the extent of the economic benefits that the ACCHK can spur, but Ng should be commended for an ambitious initiative. People of goodwill will wish the new chamber well.  

The author is a senior counsel and law professor, and was previously the director of public prosecutions of the Hong Kong Special Administrative Region.

The views do not necessarily reflect those of China Daily.