The Zhitong Finance App learned that on September 9, Hong Kong Financial Secretary Chen Maobo said in his speech at the “Belt and Road Summit” special luncheon that ASEAN's economic performance continues to be strong and is becoming an important driving force for global growth. Its role is gradually moving from a traditional production base to an important partner for technological progress and industrial upgrading. Hong Kong can support ASEAN in seizing relevant opportunities in terms of finance, platforms and talents.
Chen Maobo pointed out that according to International Monetary Fund data, ASEAN's economy grew by 4.9% last year, and is forecast to grow by 4.5% this year, all of which are more than 1 percentage point higher than the global average, which is a deep structural shift. The bilateral trade volume between China and ASEAN surpassed 1 trillion US dollars last year, and ASEAN has been China's largest trading partner for 6 consecutive years. He stressed that the content of trade is changing. Intermediate products, components and other production inputs now account for about two-thirds of the total. The fastest growing categories include electronic components, new energy equipment and smart devices.
Chen Maobo believes that regional growth prospects bring three dividends: in terms of demographic dividends, ASEAN member countries' population exceeds 680 million, and nearly half are under 30; in terms of market dividends, the middle class continues to expand and is expected to account for about two-thirds of the region's population by 2030; in terms of science and technology dividends, regional cooperation can be extended from traditional trade to joint scientific and technological research and knowledge sharing. He emphasized that to translate these advantages into sustainable growth, patient capital, open and well-regulated testing scenarios, and a strong talent pool are necessary.
On the financial side, Hong Kong can take advantage of the advantages of an international financial center, connect global investors with innovative enterprises in the region, provide multiple financing channels such as listing, venture capital, private equity funds and family offices, provide long-term capital for emerging industries such as artificial intelligence, advanced manufacturing and new energy, and assist enterprises to improve governance and expand the international market.
In terms of platforms, the Guangdong-Hong Kong-Macao Greater Bay Area brings together scientific research, advanced manufacturing, supply chains, and a market with a population of about 88 million, which can support enterprises from R&D, testing, and verification to commercialization. The Northern Metropolitan Area will strengthen collaboration between Hong Kong and Shenzhen, promote the flow of technology, talent and capital, and provide a platform for ASEAN companies to explore the Greater Bay Area and mainland markets.
In terms of talent, Hong Kong has world-class universities, an international business environment and professional services, which can attract scientific research and entrepreneurial talents. Hong Kong can also promote cooperation in fields such as artificial intelligence, fintech, smart logistics and cross-border payments, promote the interface of technical standards, knowledge exchange and safe and orderly data circulation, and act as a bridge between innovation, capital and markets.