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Survey on Accountants and the Belt and Road

Initiative Findings Show Accountancy Professionals
Affirming a Role of Hong Kong 首
and Need for a Wider Range of Professional Services
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The Society of Chinese Accountants and Auditors (SCAA) and the Research Centre for Sustainable 支
Hong Kong (CSHK) surveyed the views of accountancy professionals in Hong Kong and overseas on
the development of the Belt and Road Initiative (B&R). A total of 406 respondents were successfully 持

interviewed from 26 January to 10 April 2018.

Respondents upheld a forward-looking view of B&R and the role of Hong Kong. The survey findings
also show that the accountancy profession should provide a broader range of professional
services to optimize the business opportunities offered by B&R.

1. Respondents’ overall perceptions on B&R range from positive to neutral
Respondents rated the overall impact of B&R development positively; when asked about the
impact on individuals, the scores were neutral.

2. Affirming the role of Hong Kong, especially in promoting arbitration, financing and
RMB internationalization
Regarding areas identified in the “Arrangement between the National Development and Reform
Commission and the Government of the Hong Kong Special Administrative Region for Advancing
Hong Kong’s Full Participation in and Contribution to the Belt and Road Initiative”, most
respondents agreed that Hong Kong could play a role in these areas.

3. Respondents are most confident in their core values, including integrity and
professional conduct
Respondents were most confident in the attributes of “integrity” and “professional conduct” to
enable effective participation in B&R.

4. Mismatch in respondents' business strengths and expectations
When asked of the specific genres of professional services that can be provided in the context
of B&R, nearly half of the respondents selected the more traditional accounting services:

“bookkeeping and accounting” and “auditing”, whilst 30% selected “mergers and acquisitions”, “tax
advisory”, and “corporate financing”.

5. The willingness of participation in B&R is, in fact, higher than openly recognized
Most respondents seemed taking a wait-and-see attitude to further explore B&R’s potentials.

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