The Hong Kong Accountancy Profession and the Belt and Road Initiative

The countries participating in the Belt and Road Initiative (BRI) differ greatly in economic development and the maturity of their accounting infrastructure. The Hong Kong accountancy profession has played an active role in corporate and financial reforms and development in China. This chapter discusses whether Hong Kong professional accountants can play a bridging role to facilitate collaboration between China and other countries participating in the BRI, drawing on in-depth interviews and a survey of accountancy practitioners in Hong Kong. The chapter identifies the competences and skills required of the expected role, the self-evaluation of the sector on these skills and their comparative advantages, as well as issues in connection with participation in the BRI. The survey has indicated that senior practitioners in the profession are more positive than their juniors with regard to the prospects and Hong Kong’s role in the BRI. There are gaps between supply and demand of skills and competences and the types of professional services the profession is able to provide for the BRI. Measures to close the gaps identified include building hard skills to apply new technologies and data analysis, as well as soft skills in appreciation of foreign cultures and languages, socio-political institutions and practices, and high abilities to communicate across diversities and boundaries. © 2023 selection and editorial matter, Linda Chelan Li and Phyllis Lai Lan Mo; individual chapters, the contributors. All rights reserved.