Hong Kong immigration perspective on doing business in Hong Kong: John Tsang, Financial Secretary of the Hong Kong SAR Government, stated in his blog on the 5th that Hong Kong is actively striving to join the AIIB (Asian Infrastructure Investment Bank), and the SAR government has already initiated a series of preparations for joining the AIIB.
John Tsang stated that the AIIB, as an international multilateral financing platform, attaches great importance to the principles of openness, inclusiveness, and mutual development. With the rise of China's comprehensive national strength, the country also hopes to support infrastructure construction in other countries within the region and deepen regional cooperation to achieve connectivity and mutual benefit by supporting multilateral development banks and initiating the establishment of the AIIB.
He pointed out that according to the current progress, the AIIB should be able to commence operations early next year. Regarding when Hong Kong can join the AIIB as a member, John Tsang stated that the AIIB is an international multilateral platform, and the founding stage uses sovereign states as member units. As an international financial center of China, Hong Kong is currently participating in preparatory meetings as a member of the Chinese delegation. Member states have reached a consensus that once the AIIB is officially established, it will immediately recruit new members and handle the membership qualifications of non-sovereign entities, at which point Hong Kong will be able to submit an application.
John Tsang stated that during his earlier visit to Beijing, he proposed to Jin Liqun, Secretary-General of the AIIB Interim Secretariat, that an office be established in Hong Kong. In addition to utilizing Hong Kong as a platform for investment, financing, and treasury management, it could also leverage Hong Kong's sound judicial system and professional legal services to serve as a dispute resolution center for AIIB development projects, and the proposal received a positive response.
He also pointed out that the developing countries involved in the "Belt and Road" initiative are all emerging markets with great development potential for Hong Kong. As an international financial center and service industry hub, these new markets are likely to be the main economic growth points for Hong Kong in the next 30 or even 50 years. How to leverage our advantages and properly grasp the opportunities brought by the "Belt and Road" initiative is worth serious consideration.
