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Hong Kong has taken a monumental step forward in expanding its global economic footprint. Last week, Chief Executive John Lee Ka-chiu, leading a high-level business delegation, wrapped up a successful five-day mission to Kazakhstan and Uzbekistan. This historic visit – marking the first time the chief executive has led a mission to Central Asia – yielded 96 cooperation agreements and memorandums of understanding valued at more than US$1.65 billion. The exceptional results signal a major pivot...

RTHK News (Hong Kong)

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High value placed on Central Asia trip: CE

Chief Executive John Lee began his first day of activities in the Kazakh capital, Astana, on Monday. In the morning, a group photo was taken of the delegation, which was described as the largest of its kind in the current term of the SAR government. The photo included Deputy Secretary for Justice Horace Cheung, Financial Services Secretary Christopher Hui, Secretary for Commerce and Economic Development Algernon Yau and around 70 business representatives from Hong Kong and the mainland. Speaking to the delegation, Lee said Kazakhstan and Uzbekistan authorities attach great importance to the visit. Lee said he would meet senior officials of the two countries. He stressed the importance of teamwork and urged delegation members to stay energetic and keep their spirits high to deliver good results on the trip. In a social media post, Lee also said the 70-strong delegation brings together industry elites from various sectors in Hong Kong and the mainland. “We will jointly explore the vast potential of Central Asia, gain in-depth insights into this vibrant emerging market, exchange ideas through cross-sectoral interactions, and achieve win-win outcomes through complementary strengths,” he said. Lee added that the visit would boost long-term economic and trade cooperation between Hong Kong, the mainland and Central Asia. Lee will stay in Kazakhstan until Wednesday before heading to Uzbekistan. Edited by Thomas McAlinden

RTHK News (Hong Kong)

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HK eyes logistics, finance role in Central Asia

The Hong Kong Trade Development Council (TDC) is urging local businesses to seize the abundant opportunities in Central Asia, as Chief Executive John Lee set off to the landlocked region on Sunday with dozens of high-level business representatives. The delegation will first visit Kazakhstan before heading south to Uzbekistan. In an interview with RTHK ahead of the trip, Bruce Pang, TDC's Director of Research, said that the resource-rich region opens up new supply chain corridors for Hong Kong, while the city can offer its expertise in logistics, finance and technology. "Most of the Central Asian countries are looking to upgrade their logistics systems, facilities and capacity," Pang said, noting that Hong Kong companies possess the "know-hows, knowledge and talent pools" in this field. The SAR's capital markets are equally attractive to Central Asian nations — Pang noticed companies are utilising various facilities to raise funds in Hong Kong, including IPOs and the issuance of dim sum bonds. He highlighted a recent dual listing of a mining firm in Hong Kong and Astana stock exchanges, while there are reports that Kazakhstan's state railway operator is eyeing a debut in the SAR. On research and development, Pang believed Central Asia's ambitious plans for digitalisation and artificial intelligence align with Hong Kong's strengths. "Hong Kong will be one of the hubs for research and development powerhouses," he said, adding that the city's talent pools can help the region meet its technology and ESG standards. He also believed Central Asia can help Hong Kong better position itself in the changing global trade landscape. "In the past several years ... more companies are using Central Asia as a gateway," Pang explained, noting the region is becoming a critical transit hub for goods moving between the East and West. The SAR duty visit signalled a strategic pivot, he said, while the TDC encouraged the local business community to view Central Asia not just as a source of commodities, but as a frontier market for high-value services. Edited by Raymond Yeung

RTHK News (Hong Kong)

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CE to lead group on Central Asia visit from May 31

Chief Executive John Lee is set to lead a government delegation to Kazakhstan and Uzbekistan from May 31, as part of efforts to deepen trade with Central Asia and explore new opportunities. The delegation, the largest of its kind in the current term of government, will include more than 40 local business and professional representatives, as well as representatives from 30 mainland enterprises. They come from various industries and sectors, spanning business, finance, legal services, construction and engineering, logistics, innovation and technology (I&T), manufacturing and the automotive industry. In a statement on Friday, Lee said Central Asia enjoys "rapid economic development, abundant natural resources, and immense market potential", and Hong Kong aims to strengthen cooperation with the region in areas including finance, trade, infrastructure, I&T and green development. "The delegation will further harness Hong Kong's unique advantages under the 'one country, two systems' principle in connecting the mainland and the world, support mainland enterprises in going global, and capitalise on complementary strengths," the statement read. Various officials are also joining the trip, including Deputy Secretary for Justice Cheung Kwok-kwan, Secretary for Financial Services and the Treasury Christopher Hui, Secretary for Commerce and Economic Development Algernon Yau, Director of the Chief Executive's Office Carol Yip and Under Secretary for Innovation, Technology and Industry Lilian Cheong. The group will first visit Kazakhstan, before going to Uzbekistan for three days from June 3. Lee will meet senior government officials from the two countries to enhance high-level communication, and will lead the delegation on visits to firms and facilities to explore collaboration opportunities. The CE noted that while Kazakhstan accounts for over 60 percent of the regional economy and is the SAR's largest trading partner in Central Asia, Uzbekistan is the most populous country in the region and is also a key partner of Hong Kong. During Lee's absence, Chief Secretary Chan Kwok-ki will be acting chief executive. Edited by Thomas McAlinden

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RTHK News (Hong Kong)

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