Exclusive coverage: cs delivers inspirational speech at uzbekistan investment, trade and tourism forum
Following is the speech by the Chief Secretary for Administration, Mr Chan Kwok-ki, at the Uzbekistan Investment, Trade and Tourism Forum today (April 9):
Ambassador Arziev (Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the People's Republic of China, Mr Farhod Arziev), distinguished guests, ladies and gentlemen,
Good afternoon. It gives me great pleasure to join you all for today’s forum, which seeks to promote exchanges and co-operation between Hong Kong and Uzbekistan in investment, trade and tourism.
Located at the heart of Central Asia, Uzbekistan enjoys a long history as a hub for trade, culture and innovation along the historic Silk Road trade route. Today, it plays an important role in fostering economic development and connectivity between Asia and Europe under the Belt and Road Initiative, a key development strategy implemented by our motherland.
Hong Kong treasures the vast opportunities brought about by the Belt and Road Initiative and drives the advancement of this blueprint in various areas.
And trade is one of those areas, I am pleased to say. As an international trade centre, Hong Kong promotes free trade, maintains a robust trading and investment system, and facilitates the free flow of capital, talent, goods and information.
All those advantages have enabled our city to continuously enlarge our global economic and trade networks and expand our reach to Belt and Road markets, including Uzbekistan.
For one thing, our two economies enjoy close trade ties. In 2022, Uzbekistan was Hong Kong's largest trading partner in Central Asia, accounting for some 67 per cent of our total trade with the region.
Strengthening regional co-operation is always close to our heart. In January this year, our Government's Deputy Secretary for Justice led a Hong Kong delegation to join the forum on China-Uzbekistan co-operation in Xinjiang.
Hong Kong will continue to proactively develop a more stable, open, inclusive and mutually beneficial international economic and trade environment. Our city will also continue to serve as the prime gateway between Mainland China and the rest of the world, thanks to our "one country, two systems" framework – and the distinctive advantages that brings us.
Those advantages include a robust legal and regulatory framework, and a market-oriented and internationalised business environment. They also include our motherland's support for Hong Kong's development of eight strategic centres, covering areas like trade, finance, innovation and technology (I&T), and art and culture.
We encourage enterprises from Central Asia to make good use of Hong Kong's world-class financing, professional services, I&T solutions, and much more, for business development.
Business aside, we are equally determined to strengthen Hong Kong’s positioning as a premier tourism destination. We welcome travellers from Uzbekistan to come experience our unique East-meets-West tourism offerings.
We also encourage Hong Kong people to develop tourism and cultural ties with Uzbekistan. I am especially pleased to note that, since 2020, Hong Kong SAR passport holders can visit your country visa-free.
Ladies and gentlemen, I look forward to the closer co-operation between our two economies. Today's inaugural ceremony of the Uzbekistan Economic, Trade, Investment and Cultural Centre in Hong Kong will surely foster our ties.
On that note, I wish you all the best of business, and health, in the year to come. Thank you.
Speech by CS at Uzbekistan Investment, Trade and Tourism Forum (with photos/video) Souce: HKSAR Government Press Releases
Speech by CS at Uzbekistan Investment, Trade and Tourism Forum (with photos/video) Souce: HKSAR Government Press Releases
Exploring the impact of ai on hong kong's financial industry: insights from sfst at zhongguancun forum
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, attended the 2024 Zhongguancun Forum Fintech Parallel Forum in Beijing today (April 29).
Mr Hui also called on the Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Xia Baolong, on the same day. Mr Hui reported to Director Xia on the latest developments and the way forward for Hong Kong financial market and key areas of work under the Financial Services and the Treasury Bureau (FSTB), which include offshore Renminbi businesses, securities, asset and wealth management, fintech and green finance. Director Xia fully recognised the work of the FSTB.He said that the Hong Kong and Macao Work Office of the Communist Party of China Central Committee will give full support to Hong Kong in pursuing economic growth and advancing development. He hoped that the HKSAR Government will publicise, leverage and make good use of its unique edges and roles, so as to attract more enterprises and talents to develop in Hong Kong.
Mr Hui expressed his gratitude for Director Xia's encouragement. Mr Hui was especially grateful for the country's announcement on April 19 about a series of measures to further expand the mutual access between the capital markets of the Mainland and Hong Kong. He also looked forward to liaising closely with the relevant Mainland ministries and institutions to implement the measures as early as possible, with an aim to jointly contribute to the country's development as a financial powerhouse and high-quality financial development.
Mr Hui delivered a keynote speech on how Hong Kong's financial sector addresses the opportunities and challenges brought by artificial intelligence (AI) at the Parallel Forum this morning. Developing AI has become a major global trend. Hong Kong, as an international financial centre, should certainly look into its impact on the financial industry. In this regard, Mr Hui shared his three judgements.
Mr Hui said, "Firstly, as a data-driven industry, the financial sector is suitable for embracing AI to enhance its efficiency and competitiveness significantly. Secondly, AI is like a double-edged sword, and improper use can bring considerable risks. Thirdly, as AI will become more and more prevalent, the amount of investment it attracts in the future will continue to increase, creating new businesses that will revamp the industry ecosystem."
"Being an international financial centre, Hong Kong's financial market is open and inclusive towards the application of AI. We are committed to building a healthy and sustainable market environment, encouraging the financial sector to seize the opportunities brought by AI, and at the same time, safeguarding the overall financial security with responsible use of AI," Mr Hui added.
Mr Hui said that the HKSAR Government will issue a policy statement later this year, setting out its policy stance and approach on the application of AI in the financial market. He also looked forward to maintaining close exchanges and co-operation between Beijing and Hong Kong in the areas of AI and digital economy in the future, as well as exploring new development opportunities together.
Organised by the Haidian District People's Government, the Xicheng District People's Government, the Asian Financial Cooperation Association, and Tsinghua University PBC School of Finance, the Parallel Forum invites guests to discuss the prospects of integrated development of digital finance and AI under the theme "AI for Digital Finance Development". At the Parallel Forum, those joining Mr Hui to deliver keynote speeches included the Nobel Laureate in Economic Sciences of 2001, Professor Michael Spence; academician of the Chinese Academy of Sciences and professor of the Department of Computer Science and Technology of Tsinghua University, Professor Zhang Bo; and former vice-president of the Renmin University of China Professor Wu Xiaoqiu.
Mr Hui will return to Hong Kong tomorrow (April 30). Before concluding his visit to Beijing, Mr Hui will meet with the leadership of the China Development Bank and the Bank of China.
SFST elaborates on opportunities and challenges brought by AI to Hong Kong's financial industry at Zhongguancun Forum Source: HKSAR Government Press Releases
SFST elaborates on opportunities and challenges brought by AI to Hong Kong's financial industry at Zhongguancun Forum Source: HKSAR Government Press Releases
