HK has key role in the 'golden era'
Updated: 2015-12-04 08:16
By Chan Tak-leung(HK Edition)
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Chan Tak-leung writes that Hong Kong has a very important role to play as a 'super agent' in helping to facilitate closer trade relations between the mainland and Britain
President Xi Jinping's state visit to Britain took place about a month ago and in those heady days the majority of Hong Kong businesses, entrepreneurs and citizens were aware of the visit to some degree. They would have learnt about it through different media channels. They also understood that the visit was aimed at promoting investment, trade, infrastructure and greater cooperation between China and Britain.
The question to ask now is: What role Hong Kong can play in the Sino-British "golden era"?
Chief Executive Leung Chun-ying has previously been promoting Hong Kong's role as the "super connector" in the Belt and Road strategy. In the case of the China-UK "golden era", I would suggest Hong Kong should play the role of "super agent" to facilitate the delivery of the 40 billion pound ($60.1 billion) in investment, innovation and infrastructure projects between the two nations in the next 10 years.
Commentators in Britain are busy examining what will happen in the future during this "golden era" of China-UK relationship. The efficient organization of the state visit now seems the easier part. The more difficult part would be to ensure the smooth and efficient delivery of this partnership. How to sustain this relationship is now being put under closer scrutiny after the event. It will certainly require some understanding and analyzing.
Hong Kong, as a special administrative region (SAR) of China and with a history of doing business with Britain over a long period of time, has in-depth knowledge and understanding. It is able to assist in ironing out any difficulties that might occur during the ongoing development of the China-UK relationship.
Let's examine some advantages Hong Kong can offer to this relationship.
Firstly, Hong Kong has been a trusted and reliable business partner of Britain. Its financial and banking facilities are world class and well known to British businesses. With such a great reputation, it would certainly help reduce the notion of "risk" as perceived by sceptics in Britain. This is because British institutions will be dealing with respected and known contacts.
Secondly, Hong Kong has an Economic and Trade Office as well as a Trade Development Council office in Britain. These two organizations have put in a lot of effort and gained valuable experience in promoting trade, education and business links between Hong Kong and the UK. The "super-agent" role between the Chinese mainland and UK is an extension of these functions capitalizing on past records. Since the SAR would already have well established political, financial and trade links in Britain and the mainland, it would not be treated as a case of "UK runs toward China" like some commentators have suggested but simply the continuation of business along proven routes.
Thirdly, not until Hong Kong's return to Chinese sovereignty 18 years ago, many people in Hong Kong have experience with the historical, political, geographical, economic, cultural, language and different aspects of Britain. Instead of taking perhaps five to 10 years before genuine understanding and interdependency are fully established between the mainland and UK, the "super agent" can speed up the process by sharing its expertise in doing business with different British institutions. Mutual trust, confidence and reliability will instantly be there. It will surely ensure the immediate delivery of successful outcomes to the China-UK partnership with much ease as a result.
Fourthly, there are a host of other advantages that would suit Hong Kong's "super-agent" status. It has a pool of bilingual or multi-lingual talents which can facilitate better communication and dialogue. The newly established Innovation and Technology Bureau will provide support and add value to innovative projects for the partnership. The SAR has numerous graduates from both local and UK universities over the years. Their knowledge and skills will support businesses and manufacturers on the mainland and in Britain and Hong Kong.
For everyone involved in the China-UK partnership, Hong Kong is well placed to facilitate such cooperation. Great opportunities do not come that often. It is therefore my wish that Hong Kong grasp this unique chance to demonstrate its capabilities by contributing to the "golden era" as a "super agent". I am confident Beijing and London will support this role for Hong Kong. The SAR can then demonstrate its abilities as a truly international financial center and more.
(HK Edition 12/04/2015 page9)