Total merchandise trade between Hong Kong and ASEAN amounted to HK$833 billion in 2016, and total services trade between the two sides reached HK$121 billion in 2015. As at the end of 2015, ASEAN ranked sixth among Hong Kong’s destinations for outward direct investment, sixth among Hong Kong's sources of inward direct investment. Free Trade Agreement negotiations between Hong Kong and ASEAN were completed in July 2017 after three years, and both sides will sign the agreement in November this year.
The Hong Kong - ASEAN Summit 2017 is the fourth such annual event. The Financial Secretary, The Honourable Mr Paul Chan, GBM, GBS, MH, JP, delivered the luncheon keynote speech, in which he highlighted how the government helps Hong Kong enterprises seize Belt and Road opportunities and Hong Kong’s role in promoting such business activities in the region.
The Hong Kong - ASEAN Summit 2017 kicked off with welcome remarks by Mr. Sung M. H., Deputy Managing Director of Metro Broadcast Corp. Ltd. Professor Edward Chen, Chairman of HKU School of Professional and Continuing Education, then shared his views on how Hong Kong can promote the interoperability of Asian countries and the Belt and Road initiative in his opening speech.
In his presentation, Mr. David Carbon, Chief Economist, Managing Director for Economic and Currency Research, DBS Bank, shed light on the feasibility of closer relations between the ASEAN region and China, given the growing economic influence of ASEAN, which was Hong Kong's second largest trading partner in merchandise trade in 2016.
As Co-Chair of the Belt & Road Industrial and Commercial Alliance, Dr. Jonathan Choi, who is also the member of CPPCC National Committee, Chairman of The Chinese General Chamber of Commerce, and Chairman of Sunwah Group, provided an in-depth analysis of the soon-to-be-signed Free Trade Agreement between Hong Kong and ASEAN.
To help highlight the Belt and Road initiative’s economic opportunities and explore how Hong Kong enterprises can best position themselves to capitalise on them, Mr. Zhu Hua, Vice President of the Hong Kong Chinese Enterprises Association, elaborated on how Hong Kong enterprises can complement Chinese enterprises to grasp these new opportunities. Mr. Dickson Ho, Principal Economist (Asian and Emerging Markets) of the Hong Kong Trade Development Council, Mr. Sunny Ho, Executive Director of The Hong Kong Shippers’ Council, and Mr. Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Bank (Hong Kong), also discussed the differences in the development of emerging markets in Asia and the strategic deployment of the Belt and Road initiative.
E-commerce was also a key focus of the summit, with Mr. Will Ross, CEO of Lazada Crossborder (Hong Kong), sharing insights on new technology breakthroughs in e-commerce, and a panel discussion with Dr. Lawrence Cheung, Director, Technology Development, Hong Kong Productivity Council, Ms. Venetia Lee, General Manager of Alipay Hong Kong, Macau and Taiwan, and Ms. Karen Chan, who founded the Hong Kong O2O E-Commerce Association, exploring e-commerce and O2O marketing business opportunities.
Mr. Sebastian Paredes, Chief Executive Officer, DBS Bank (Hong Kong) Limited, said, "DBS has been supporting the development of a number of infrastructure projects. Through our strong regional contacts in Asia and our insight into the market, we believe that DBS can work with customers to benefit from the Belt and Road initiative with various opportunities and to build the future together.
Photo Captions
Photo 1: More than 200 attendees and financial and business leaders gathered for the “Hong Kong - ASEAN Summit 2017” to explore new opportunities by the ASEAN economic community.
Photo 2: The Financial Secretary, The Honourable Mr Paul Chan, GBM, GBS, MH, JP, delivered the luncheon keynote speech, in which he highlighted how the government helps Hong Kong enterprises seize Belt and Road opportunities and Hong Kong’s role in promoting such business activities in the region.
Photo 3: Mr. Sebastian Paredes, Chief Executive Officer, DBS Bank (Hong Kong) Limited, said, "DBS has been supporting the development of a number of infrastructure projects. Through our strong regional contacts in Asia and our insight into the market, we believe that DBS can work with customers to benefit from the Belt and Road initiative with various opportunities and to build the future together.
Photo 4: Professor Edward Chen, Chairman of HKU School of Professional and Continuing Education, then shared his views on how Hong Kong can promote the interoperability of Asian countries and the Belt and Road initiative in his opening speech.
Photo 5: Mr. David Carbon, Chief Economist, Managing Director for Economic and Currency Research, DBS Bank, shed light on the feasibility of closer relations between the ASEAN region and China, given the growing economic influence of ASEAN, which was Hong Kong's second largest trading partner in merchandise trade in 2016.
Photo 6: (from left to right) Mr. Dickson Ho, Principal Economist (Asian and Emerging Markets) of the Hong Kong Trade Development Council, Mr. Sunny Ho, Executive Director of The Hong Kong Shippers’ Council, and Mr. Alex Cheung, Managing Director and Head of Institutional Banking Group of DBS Bank (Hong Kong), also discussed the differences in the development of emerging markets in Asia and the strategic deployment of the Belt and Road initiative.
Photo 7: Panel discussion with Dr. Lawrence Cheung, Director, Technology Development, Hong Kong Productivity Council, Ms. Venetia Lee, General Manager of Alipay Hong Kong, Macau and Taiwan, and Ms. Karen Chan, who founded the Hong Kong O2O E-Commerce Association, exploring e-commerce and O2O marketing business opportunities.
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About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings, is among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney in 2016. The bank has also been recognised for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for eight consecutive years from 2009 to 2016.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 22,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
