Hong Kong’s role in the AIIB

During her visit to China earlier this month, Carrie Lam, Chief Executive of Hong Kong, said she hoped that Hong Kong would play a more active role in the Asian Infrastructure Investment Bank (AIIB), a China-led multilateral development bank that aims to support the building of infrastructure in the Asia-Pacific region. Hong Kong joined the AIIB in June this year.

According to the Straits Times, Lam also discussed the potential for Hong Kong to play a bigger role in the Belt and Road Initiative, given its status as an international financial centre. She said that Hong Kong will be signing a cooperation agreement with the National Development and Reform Commission (NDRC) in the coming months, with particular focus on professional services.

Hong Kong already is the world’s largest hub for RMB financing activities and it positions itself as a ‘super connector’ between China and the rest of Asia, as well as the West.

Hong Kong’s role in Asia, with special focus on ASEAN, will be discussed at Asia House’s first signature conference in the region, to be held on 27 November in Hong Kong.