Digital connectivity and green economy emerged as the focus of this year’s Belt and Road Summit, which was held in Hong Kong on September 11-12, with delegates at the event highlighting the importance of innovation and sustainability in fostering cooperation among partners.

The summit, themed “Building a Connected, Innovative and Green Belt and Road” and co-organized by the Hong Kong Special Administrative Region Government (HKSAR) and the Hong Kong Trade Development Council, took place as global tensions from Ukraine to the Middle East are causing major supply chain disruptions.

Tech, green growth solutions for supply chain

The summit, bringing together over 90 policymakers and business leaders from Belt and Road Initiative (BRI) countries and regions, aligns with the eight major steps Chinese President Xi Jinping announced in 2023 to support the development of the initiative.

“These wide-ranging steps span from supporting an open world economy and enhancing infrastructural connectivity networks, to promoting green development and advancing scientific and technological innovation,” Hong Kong Chief Executive John Lee (Lee Ka-chiu) said in the opening remarks.

This year’s summit also introduced a new Green Chapter, which is in line with the theme, featuring breakout sessions on green infrastructure, innovation and finance. 

According to Hong Kong Chief Executive Lee, BRI economies accounted for more than 43 percent of Hong Kong's external trade with the rest of the world other than mainland China, compared with less than one-third in 2013.

However, there have been worries that global conflicts, such as in Ukraine and the Middle East, would disrupt global supply chains including that of the BRI, forcing Hong Kong and the mainland to find solutions.

China’s strategy prioritizes not only the expansion of physical infrastructure but also the strengthening of digital connectivity to mitigate future risks, according to Prof. Julien Chaisse, an award-winning expert in international economic law at the City University of Hong Kong School of Law.

“Digital trade and e-commerce are increasingly viewed as essential tools to offset physical supply chain disruptions. In addition, the growing focus on green finance and renewable energy infrastructure within the BRI offers a method to reduce reliance on unstable regions and resources,” he told Tuoi Tre News.

Bolstering cooperation with Vietnam, ASEAN, and beyond

Among BRI countries, Southeast Asia emerged as a focus in the summit’s discussions.

As the Association of Southeast Asian Nations (ASEAN) becomes more attractive to investment flows, new technology initiatives, and sustainable development, Southeast Asian countries are also important partners for Hong Kong.

Prior to the summit, the HKTDC delegation led by Lee visited Laos, Cambodia and Vietnam.

Participants talk on the sidelines of the 9th Belt and Road Summit, which took place on September 11, 2024 in Hong Kong. Photo: Nhat Dang / Tuoi Tre News

“The visit yielded 55 MoUs with the three ASEAN states, covering a wide range of areas, from business and investment to culture, education and more,” the Chief Executive of Hong Kong said.

Speaking to Tuoi Tre News, Commissioner for Belt and Road in Hong Kong Nicholas Ho said that Hong Kong is currently making efforts to foster comprehensive cooperation with ASEAN instead of focusing only on trade - an area where there is already a Hong Kong - ASEAN free trade agreement.

He noted that Vietnam - Hong Kong trade and connectivity have been growing in the past decades, and Vietnam now ranks second in Hong Kong's trade with ASEAN economies

“And coming in the next 12 months, more and more flights will be opened between Vietnam and Hong Kong and multiple cities,” he said.

Expanding trade routes and partnerships, particularly through increased engagement with ASEAN, is seen as crucial for strengthening supply chain resilience.

“Vietnam’s expanding role in global supply chains and its strategic importance within the BRI demonstrate how countries with advantageous geographic and economic positions can attract investment and emerge as key points in this evolving network.

"The development of green infrastructure and a focus on innovation will further reinforce these supply chains, providing more sustainable and resilient solutions to global partners,” said Prof. Chaisse.

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