HK expects more business opportunities from APEC CEO Summit

Some Hong Kong business leaders say the APEC CEO Summit set to take place in Shenzhen next Tuesday and Wednesday offers a unique chance to invite potential partners across the border to visit the city.

The APEC CEO Summit will take place at The Shenzhen Qianhai International Conference Centre.

Chinese President Xi Jinping will deliver a keynote speech at the opening ceremony, alongside leaders and representatives from economies including Australia, Canada, and Chile.

More than a thousand political and business delegates have been invited. Major firms including Google, Boeing, and UBS have applied to attend, according to the China Council for the Promotion of International Trade.

One local business group attending the summit says hosting the event right at Hong Kong's doorstep gives local firms a distinct advantage in pursuing new opportunities-particularly in trade, technology, the green transition, and the digital economy.

President of the Chinese Manufacturers' Association of Hong Kong Wingco Lo said, "This time we can very close to showcase our products or services to these APEC members. I am sure we can get many good deals or some contracts closed with these partners within these APAC countries."

The APEC Business Advisory Council will also meet ahead of the leaders' summit. One representative says these talks are vital for deepening mutual understanding across different economies.

Marjorie Yang, a Hong Kong, China Representative of ABAC, said, "Hong Kong has always been a super-connector."

"Hong Kong is mending the supply chain trying to mend the supply chain and also making the supply chain as efficient as possible. So these are some of the things that we are champions of, for example, digital trade."

APEC spans 21 member economies, and typically concludes with non-binding agreements on key issues, which has been critised with limited effect. However, some academics see it as greater flexibility in the geopolitical environment.

Prof. Heiwai Tang from HKU APEC Study Centre said: "APEC on the one hand is not equally binding but on the other hand gives the member economies, enough space to explore opportunities to collaborate and at the same time try to work together, to overcome some of the challenges including the geopolitical risks arising from AI competition."

Tang adds governments across the Asia-Pacific have continued to forge regional pacts, helping to sustain momentum for free trade.

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{HK expects more business opportunities from APEC CEO Summit}