Clement Lau says Belt and Road activity now spans global business ecosystems.
Hong Kong’s Insurance Authority (IA) said it is positioning the market as a one-stop risk advisory hub for Chinese Mainland enterprises expanding overseas as the Belt and Road Initiative shifts towards more complex global business operations.
Clement Lau, Executive Director, Policy and Legislation at the IA and moderator of the session at the Belt and Road summit, said the initiative had moved beyond standalone infrastructure projects towards the operation of global business ecosystems.
This requires enterprises to adopt more proactive and consolidated approaches to risk management as they face increasingly complex risks, he said.
Hong Kong can support these businesses through its insurance solutions and professional advisory services, Lau said, covering the different stages of overseas expansion from assessing risks to implementing tailored mitigation strategies.
The discussion also looked at what Hong Kong needs to strengthen its position as a risk adviser to Chinese Mainland enterprises as more companies expand their operations overseas.