Financial Secretary Paul Chan today attended the opening ceremony of the World Economic Forum Annual Meeting of the New Champions 2025 and a discussion session as he wrapped up his Tianjin visit and proceeded to Beijing in the evening.
In the morning, Premier Li Qiang attended the opening ceremony of the annual meeting, also known as the Summer Davos, and delivered a speech.
In addition to attending the opening ceremony, Mr Chan participated in a discussion session in the afternoon titled “Is the Asian Century at Risk?”.
The discussion focused on how Asia could address local development and external challenges amid the current geopolitical tensions, trade barriers and technological transformation.
Other regional leaders in attendance included Prime Minister of Vietnam Pham Minh Chinh, Deputy Chairperson of Indonesia’s Gerindra Party Rahayu Saraswati Djojohadikusumo and Minister of Industry & Entrepreneurship Development of Sri Lanka Sunil Handunneththi.
During the session, Mr Chan remarked that the Asian region is developing rapidly, with Hong Kong benefitting from its unique position under “one country, two systems”.
He highlighted Hong Kong’s dual advantages of priority access to the Mainland market and its connectivity to the global economy, serving as a gateway between the Mainland and the world.
As an international financial centre, Hong Kong facilitates efficient two-way capital flows and cross-border financial co-operation within Asia and between Asia and other regions, in addition to actively supporting Mainland enterprises in expanding internationally and building global industry chains and supply chains.
In response to questions, Mr Chan emphasised that since the implementation of the Hong Kong National Security Law, the city has provided a more stable and secure business environment that allows society to focus on economic development, adding that international investors are showing confidence in Hong Kong with their capital and actions.
Mr Chan further noted that Hong Kong’s openness, diversity and international outlook under “two systems”, along with its common law system, remain key advantages in attracting international businesses and talent.
The Financial Secretary also briefed World Economic Forum Chairman ad interim Peter Brabeck-Letmathe on Hong Kong’s latest economic developments, including progress in the financial and innovation and technology (I&T) sectors.
They also explored opportunities to strengthen co-operation in technological innovation and personnel exchanges.
During his time in Tianjin, Mr Chan also participated in a thematic session hosted by Hong Kong Exchanges & Clearing, where he shared how Hong Kong provides a full range of fundraising options to provide financial support to the accelerated development of I&T enterprises.
The finance chief also attended an exchange session between technology enterprises from Tianjin and Hong Kong organised by Hong Kong Science & Technology Parks Corporation as well as a gathering hosted by the Hong Kong Chamber of Commerce in Tianjin.
After concluding his Tianjin visit, Mr Chan proceeded to Beijing to attend the Host Member Gala Dinner for the 10th Annual Meeting of the Board of Governors of the Asian Infrastructure Investment Bank.
