Belt and road forum: Hong Kong, Beijing pledge 15 billion yuan for investment platform focusing on renewable energy, infrastructure projects
- Hong Kong Monetary Authority and Silk Road Fund sign agreement to create BNR HK Flagship Impact Fund after high-level belt and road forum in Beijing
- Chief Executive John Lee also says he briefed Chinese Vice-Premier Ding Xuexiang on the situation in Hong Kong during two-day event
Hong Kong and Beijing have pledged 15 billion yuan (US$2.05 billion) to create an investment platform targeting projects under the belt and road plan, including those focused on developing infrastructure and transitioning to renewable energy sources.
The Hong Kong Monetary Authority (HKMA) and the Silk Road Fund (SRF), a state-backed investment vehicle, signed a framework agreement in Beijing on Thursday after the Belt and Road Forum for International Cooperation wrapped up.
Under the first phase of the deal, both parties will put forward a total of US$1 billion to create an investment platform known as the BNR HK Flagship Impact Fund.
“The HKMA and the SRF will leverage their respective advantages in capital, information, technology and management to explore onshore and offshore investment opportunities, and provide financial support to the Belt and Road Initiative,” the authority said.
The belt and road plan refers to Beijing’s ambitious scheme to link dozens of economies in Asia, Europe and Africa into a China-centred trade network.
