China: Hong Kong claims financial leadership in the New Silk Road project

15.05.2017, China.

Hong Kong has every opportunity to become a leading financial platform for the “New Silk Road” initiative, said Leung Chun-ying, Chief Executive of Hong Kong, at the One Belt, One Road Forum in Beijing on May 15, TASS News Agency reports.

Leung Chun-ying noted that being China’s international financial center, Hong Kong becomes a superconductor between the People’s Republic of China and the rest of the world. Today Hong Kong is the most preferable place for capital from mainland China because there are no foreign exchange control and restrictions. In addition, for 23 consecutive years, the Heritage Foundation [in its annual Index of Economic Freedom publication – Editor], lists Hong Kong among the freest economies in the world.

The “New Silk Road” is a concept of a trans-Eurasian transport system (in the long term,  to become intercontinental), which has been promoted by the United States since the late 20th century, and now this initiative is actively supported by the People’s Republic of China. The implementation of the first infrastructure projects within the framework of the “New Silk Road” began in 2008. However, in 2011 with the beginning of the “Arab Spring”, total security of such an initiative was threatened by radical Islamists. Despite this threat, Beijing is rapidly gaining partners and increasing financial investments to realize its main idea of the beginning of the XXI century.

Source: Rossa Primavera News Agency

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