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Welcome Remarks by Mrs Regina Ip, GBM, GBS, JP, at the “Belt and Road Forum - Digital Economy & Payment Settlement”
2024-12-05
Welcome Remarks by Mrs Regina Ip, GBM, GBS, JP,
Convenor of Executive Council, Legislative Council Member,
and Co-Chair of Maritime Silk Road Society
at “Belt and Road Forum 2024‧Digital Economy & Payment Settlement”
on 5 December 2024 in Conrad Hong Kong
Secretary Christopher Hui; our co-organizers, Joseph (Chan), Chairman of Silk Road Economic Development Research Center; our sponsor, Alex Ng; Deputy Director General Zhou Qiang; Consul Generals; Distinguished Guests , Ladies and Gentlemen,
Good afternoon. It gives me great pleasure to welcome all of you to “Belt and Road Forum 2024‧Digital Economy & Payment Settlement”. In the past 10 years, we have seen significant progress in the implementation of the Belt and Road Initiative (BRI). Apart from the remarkable expansion of BRI membership, substantive achievements in infrastructural development and trade along the Belt and Road also call for more cross-border payment settlement. It is therefore timely to explore the prospects of the development of more digital payment arrangements under the BRI.
First and foremost, I would like to thank Secretary for Financial Services and the Treasury Mr Christopher Hui for attending this Forum and giving us an opening address. Our very special thanks to Professor Thomas Chan of Ng Teng Fong · Sino Group Belt and Road Research Institute of Hong Kong Chu Hai College for inviting the Chief Executive to deliver an opening address on video. I would also like to thank my colleague, Mr Joseph Chan, Chairman of Silk Road Economic Development Research Center, for inviting the distinguished panelists, and Professor Shi Yong, Chair Professor and Doctoral Supervisor at the University of Chinese Academy of Sciences, to deliver the keynote speech on the theme of this Forum.
The Digital Silk Road (DSR) was first launched in 2015. By 2020, DSR has become the focal point of one of China’s foreign policy initiatives, promoting the idea of cooperation based on digital connectivity. Since then, China has been undertaking numerous DSR projects with other BRI economies.
According to Deloitte, many super apps have been developed for digital payments and have become an anchor for financial inclusion and a pathway to sustainable growth in diversity of industries. Digital wallets have gone beyond payments and now offer an omnichannel commerce, with China leading the adoption followed by South East Asia. At our first panel discussion on “Cross-Border Payments Fuelling the Accelerated Growth of Global E-Commerce” moderated by Ms Julia Charlton, Managing Partner of Charltons, we will explore the opportunities and challenges of cross-border payment settlements in global e-commerce.
Last year, many institutes dedicated to Web 3.0 had been established in Hong Kong. Their mission is to provide steadfast support for the construction of digital ecosystems in Hong Kong, the Greater Bay Area, and the world. All these institutes aim to put Hong Kong on the map as a leader in fintech. In light of the importance attached to Web 3.0 development, Mr Joseph Chan will moderate our second panel discussion in which panelists will discuss Web 3.0, as a disruptive technology, which could revolutionize existing business models and create new opportunities.
Last but not least, I would like to acknowledge the strong support from our venue sponsors, Sino Group and Ng Teng Fong Charitable Foundation; as well as our supporting organizations: ASEAN-China Association for the Promotion of Industrial Cooperation and Development; Hong Kong Economic Trading International Association; Web 3.0 Technology Limited; The Payment Cards Group Limited; Hong Kong Energy Mining And Commodities Association; Solowin Holdings Ltd; Charltons; Oriental Patron and LianLian Global; all of our distinguished speakers and panelists, Consul Generals and their representatives, and all our participants today.
As the Co-chair, I am pleased to announce that next year will mark the 10th anniversary of the establishment of the Maritime Silk Road Society. So the event today is the harbinger of more commemorative events to come in the coming year, and I look forward to your continued participation. Thank you.
