Belt & Road Summit sees record MoUs, US$3.1bn in deals

The recent two-day Belt and Road Summit in Hong Kong witnessed a record number of memorandums of understanding (MoUs) and a total deal value of US$3.1 billion, marking a three-fold increase from the previous year, according to the city's Belt and Road Commissioner, Nicholas Ho. Speaking on Monday, Ho highlighted the summit's increased diversity, drawing foreign government speakers from various regions including Uzbekistan, Uruguay, South Asia, Latin America, Eastern Europe, and North Africa.

This diversity can be attributed to the chief executive's mission to Central Asia in June, which resulted in 96 MoUs worth US$1.65 billion. Since then, a Kazakh state-owned company has applied to list on Hong Kong's stock exchange, with Kazakh institutions issuing dim sum bonds worth 7.2 billion yuan, double the amount from the prior year.

Ho emphasized the office's efforts to invite officials from different parts of the world, aiming to broaden the country's coverage beyond the usual focus on ASEAN, the Middle East, and Central Asia, encompassing South Asia, Latin America, Eastern Europe, and North Africa. He assured that the government would continue to strengthen ties with ASEAN, the Middle East, and Central Asia, while also exploring new opportunities in South Asia, West Asia, and North Africa.