Hong Kong’s Central Asia pivot to boost belt and road role, analysts say

Hong Kong’s push into Central Asia aims to strengthen links between mainland China and the region while reinforcing the city’s role as a professional services hub for belt and road countries, although economic gains may take time, analysts have said.

They added that Kazakhstan and Uzbekistan, given their strategic positions, were logical destinations for Hong Kong to pursue business opportunities amid geopolitical uncertainty and the war in the Middle East.

Chief Executive John Lee Ka-chiu announced on Tuesday that he would lead his largest delegation to date early next month to Kazakhstan and Uzbekistan to explore new business opportunities in Central Asia.

Both countries are key partners of the Belt and Road Initiative, Beijing’s plan to grow global trade.

The delegation comprised 30 entrepreneurs from Hong Kong and another 30 from the mainland, he said, underscoring the city’s role as a platform to assist companies from over the border in going global.

Lau Siu-kai, a consultant at Beijing’s semi-official think tank, the Chinese Association of Hong Kong and Macau Studies, said the choice of destinations reflected the city’s priority of aligning with national strategy – serving as a bridge between the mainland and Central Asia and positioning itself as a leading provider of professional services for belt and road countries.