Infrastructure projects, with a special focus on advanced technology and energy transition, took centre stage at the Ninth Belt and Road Summit held in Hong Kong on September 11-12.

The summit, hosted annually by the Hong Kong Special Administrative Region government since its inception in 2016, has attracted thousands of political and business leaders from various countries and regions participating in the Belt and Road Initiative (BRI).

“The BRI has inspired many countries and economies to share opportunities for common development and cultural exchanges. Hong Kong, as the country’s most open and international city, is perfectly positioned to play a pivotal role in realizing the visionary goals of the BRI,” Hong Kong Chief Executive John Lee said at the opening of the summit.

The summit has become the premier platform for Belt and Road business and investment, connecting enterprises from Hong Kong, mainland China, and overseas.

This year’s summit showcases a diverse range of projects across sectors such as energy, natural resources, and public utilities, from countries including China, Hong Kong, Brazil, Russia, South Africa, and Malaysia.

GalaxySpace, China’s leading satellite internet solutions provider and satellite manufacturer, unveiled its Satellite Internet Project.

The company, referred to as the “Chinese version of Elon Musk’s Starlink”,  has signed a memorandum of understanding with PCCW Global to explore collaboration in providing Low Earth Orbit (LEO) satellite network services to international markets, initially focusing on Hong Kong and other BRI countries.

Clean energy projects

Aside from satellite technology, energy transition has emerged as a major theme at the summit, catching the attention of many investors. Foreign companies are particularly targeting Chinese investors who are actively seeking overseas opportunities.

A variety of clean energy and energy-saving projects are highlighted, ranging from an efficient water management project for Latin America to sustainable battery solutions in South Africa to a Malaysian company's electromagnetic clean power supply initiative.

Luquos Energy, a Hong Kong-based energy storage company, stands out with its Polysulfide Redox Flow Batteries for Long-Duration Energy Storage project, which promises to increase the stability and the lifetime of batteries for grid-scale energy storage devices.

“Compared to other types of batteries, polysulfide redox flow batteries are environmentally friendly, with advantages of low cost and safety,” says Yi-Chun Lu, Luquos Energy co-founder and chief scientist.

In July, Towngas Smart Energy and Luquos Energy officially launched and connected to the grid their first demonstration project featuring a sulfur-based flow battery energy storage system integrated with a charging station.

Located at the Shajing Electric Vehicle Charging Station in Shenzhen, the demonstration project, with a capacity of 20 kilowatt hours, can provide stable power to 30 charging piles at the station. By utilizing a peak-valley electricity price arbitrage strategy, the project is expected to reduce electricity expenses by up to 70% during peak usage periods.

This not only effectively reduces the load on the power grid but also significantly lowers the electricity costs for the operator, according to its proponents.

Speaking at the summit, Hong Kong’s financial secretary Paul Chan highlights the city’s crucial role in financing such projects. “Hong Kong’s diversified financial services, featuring a deep and extensive stock market as well as a vibrant bond market, provide an ideal platform for Belt and Road governments and companies to raise funds for infrastructure, green transition and community projects,” he says.

Photo: Hong Kong Chief Executive John Lee addresses the Belt and Road Summit on September 11. (GovHK)