HK seeks to expand trading ties with Belt and Road emerging markets: official

Hong Kong's Financial Secretary John Tsang Wednesday said emerging markets are a big driver of the new economic order, hoping Hong Kong can grasp the chance to expand trading ties, especially with new markets along the Belt and Road Initiative.

Speaking at a luncheon, Tsang said Hong Kong needs to find new markets and expand trading ties to keep its wheels turning.

He said the eastward economic shift following the 2008 financial tsunami has brought new opportunities to both traditional industries as well as emerging ones.

"In particular, emerging markets along the Belt and Road are likely to provide new impetus for our longer-term development," Tsang said.

"No society can afford to ignore this new economic order. Certainly, the Hong Kong government will be doing our part in nurturing innovation as well as promoting and commercializing the application of R&D results," he said.