China’s Belt and Road Initiative is going to be a major driver of economic growth in the Asia Pacific region, while Hong Kong is in a “fantastic position” to play a key role, says Raymund Chao, Greater China Chairman with PwC. As Knowledge Partner at the upcoming Asian Financial Forum 2016, PwC will have a big role contributing to the Initiative’s success.

The Asian Financial Forum (AFF) 2016 in Hong Kong could well focus on rising interest rates, says Frank Lyn, China and Hong Kong Markets Leader with PwC. Exchange rate gyrations could be critical for burgeoning Chinese investment overseas. Another major topic will be China’s Belt and Road Initiative and Hong Kong’s role. The AFF runs 18-19 January at the Hong Kong Convention and Exhibition Centre.

The prospects are “very positive” for interlinkages of goods and services trades between the newly-established ASEAN Economic Community and China’s Belt and Road Initiative, says Jaime Zobel, Chairman and Chief Executive Officer of Philippine conglomerate Ayala Corporation. He says the Philippines should maintain its strong growth momentum in 2016 on the back of a robust domestic economy.

Hong Kong will face a difficult year ahead in 2016 says HKSAR Financial Secretary John Tsang. Speaking beside the Asian Financial Forum, he says Hong Kong’s external-facing economy is challenged by the economic “doldrums” of a number of partners so will have to rely a lot more on domestic consumption for growth. He says China’s Belt and Road Initiative offers excellent opportunities for Hong Kong’s commercial, logistics, professional services and finance sectors – as these are all needed by the 65 countries on the Belt and Road.

Speaking beside the Asian Financial Forum 2016, HSBC Group Chief Executive Stuart Gulliver said he expects Hong Kong to “easily manage its way” economically this year even though there could be two sets of 25 basis point rises over 2016 and 2017 in the US, pushing up interest rates. He also said China’s Belt and Road initiative will bring considerable economic growth and is a business opportunity for HSBC.

The Asian Financial Forum (AFF) 2016 showed very high energy from participants and speakers, said Ben Bernanke, former Chairman of the US Fed and keynote speaker at the event. Stuart Gulliver, Group Chief Executive of HSBC, said the conference was very important in focusing on Hong Kong as a leading Asia Pacific financial centre. Both spoke of the significance of China’s Belt and Road Initiative. AFF returns 16-17 January 2017.