What’s next for China’s Belt and Road Initiative? Experts weigh in

Speakers repeatedly underlined Hong Kong’s crucial role as the launch pad for companies expanding into Belt and Road markets. Ronald Lam, CEO of Cathay Group, which operates the city’s flagship carrier Cathay Pacific, framed this as central to one of his company’s missions: connecting China with other Belt and Road countries not only through passenger and cargo services, but also by facilitating capital flow and professional services.

Echoing this, Gansha Wu, co-founder and CEO of Beijing autonomous driving company Uisee Technologies, described Hong Kong as a platform offering a “world scenario” to test products. He further emphasised that it has the world’s highest standard to ensure quality; access to the world market to build presence and world capital for growth via IPOs. “I think these are the four factors that Chinese mainland companies, particularly high-tech companies, can really leverage in their go-global strategy,” he said.

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Professor KC Chan, chairman of Hong Kong-based digital bank WeLab Bank, stressed that businesses must not view the BRI as a monolithic market. He emphasised the diversity of economies involved, each with distinct characteristics, challenges and stages of development, requiring tailored strategies for entry and growth.

“Belt and Road covers a huge, diverse set of economies. They’re very different in terms of size, wealth level and technology sophistication, and often many parts of the Belt and Road countries are not even well-connected,” he observed. He urged business leaders to conduct in-depth, market-specific research and adapt models to local conditions rather than applying a one-size-fits-all approach.

Read more: Why is China putting the brakes on self-driving claims on cars?

Gim Huay Neo, managing director and member of the managing board at the World Economic Forum, said that the initiative’s true potential lies not only in large-scale infrastructure but also in unlocking entrepreneurial energy from the ground up. She called for a shift towards nurturing vibrant, self-sustaining ecosystems.

She stressed that success depends on empowering local actors to participate directly. “The challenge is whether even as we pursue big, bold transboundary projects, we can also create space and catalyse local and regional ecosystems, enabling local communities, the small and medium enterprises, to co-create, contribute and thrive within the richness and beauty of this ecosystem.” Such an approach, she added, ensures inclusive development and shared value across all levels of the economy.

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