Paul Chan Promotes Hong Kong's Economic Opportunities During New York Visit

2024-10-24 12:05 Last Updated At：16:27

FS continues to promote Hong Kong's new advantages in New York (with photos/video)

The Financial Secretary, Mr Paul Chan, continued his visit in New York, the United States (US), yesterday (October 23, New York time) to promote Hong Kong's advantages and opportunities.

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FS continues to promote Hong Kong's new advantages in New York (with photos/video) Source: HKSAR Government Press Releases

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FS continues to promote Hong Kong's new advantages in New York (with photos/video) Source: HKSAR Government Press Releases

Mr Chan attended a luncheon co-hosted by the Hong Kong Economic and Trade Office in New York and the Hong Kong Association of New York, with around 80 representatives from businesses, institutions, chambers of commerce and think tanks present. During the luncheon, Mr Chan delivered a keynote speech and engaged in a discussion with the President of the National Committee on United States-China Relations, Mr Steve Orlins, addressing topics of interest regarding Hong Kong in US political and business circles.

In his remarks, Mr Chan introduced Hong Kong's latest economic situation and development strategies, particularly new initiatives in key areas such as finance and innovation and technology, policies and achievements related to attracting businesses and talent, and the increasingly close co-operation and collaborative developments with sister cities in the Guangdong-Hong Kong-Macao Greater Bay Area.

Mr Chan stated that the "one country, two systems" arrangement will remain implemented in Hong Kong for the long term. He emphasised that Hong Kong will continue to play its unique role as a "super connector" and "super value-adder," linking the capital markets and investors of the Mainland and the global community to create value and opportunities for all. He noted that Hong Kong consistently maintains the common law system, upholds the rule of law, provides an open, free, and simple low-tax business environment and protects investors' rights. Following the implementation of national security legislation, foreign businesses continue to have confidence in Hong Kong, and various international institutions have affirmed Hong Kong's excellent business environment and competitiveness. Mr Chan highlighted that Hong Kong values the strengthening of relationships with traditional markets and welcomes continued investments from the US business community. The Hong Kong Special Administrative Region Government will continue to present the real situation of Hong Kong through objective facts and data, and maintain communications and connections with the US’s political and business sectors.

In the morning, Mr Chan had breakfast with local political and business figures, followed by a roundtable meeting where he met with local financial and banking professionals to introduce Hong Kong's latest status and opportunities, and address their questions.

In the afternoon, Mr Chan met with the Acting Consul General of China in New York, Mr Ma Xiaoxiao, to exchange views on China-US economic and trade relations, and co-operation.

Mr Chan will continue his final day of visit in New York today (October 24, New York time).

Financial Secretary Paul Chan Highlights Green Transition Efforts at China Development Forum in Beijing

FS attends China Development Forum 2026

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22).

Mr Chan attended the opening session and a thematic symposium of the China Development Forum 2026 in the morning. He also spoke at the thematic symposium titled "Global Green, Low-carbon Transition and Sustainable Development" in the afternoon.

In his remarks at the symposium, Mr Chan said that, from an economic perspective, estimates project that by 2050 climate change could cause annual losses of up to US$38 trillion to agriculture, infrastructure and productivity. To achieve the goals of the Paris Agreement, the world still faces an annual funding gap of more than US$4.4 trillion. While some countries have withdrawn from international co-operation frameworks, the momentum of the green transition continues to advance. Investment in clean energy exceeded US$2.2 trillion by 2025, accounting for about two-thirds of global energy investment, with China contributing about one-third.

Mr Chan stressed that China is not only a participant in global climate governance, but also a steadfast practitioner and leader, making steady progress towards the "3060" dual carbon goals. The country's 15th Five-Year Plan will embed green development deeply into industrial upgrading and infrastructure development, accelerating a comprehensive green transition across economic and social development and setting out a number of binding targets. As a Special Administrative Region of the country, Hong Kong is firmly advancing towards carbon neutrality, with targets of halving carbon emissions by 2035 and achieving carbon neutrality by 2050. It has been making solid progress. In 2024, Hong Kong's per capita carbon emissions fell to about 4.4 tonnes, roughly one-quarter of that of the United States and 60 per cent of that of the European Union. Looking ahead, Hong Kong will continue to take forward its decarbonisation work along four major directions, namely net-zero electricity generation, energy saving and green buildings, green transport and waste reduction.

He noted that Hong Kong is committed to contributing "Hong Kong's strength" to the regional and global green transition, leveraging two core engines of green finance and green technology. First, Hong Kong will consolidate and enhance its role as a regional green finance hub. This includes maintaining its leading position in green and sustainable debt and integrating blockchain technology with green finance to attract more green capital. At the same time, Hong Kong will continue to align its green finance standards with international best practices. Second, Hong Kong will proactively develop innovative financial instruments to channel greater funding into green projects. Examples include infrastructure securitisation to mobilise global capital for renewable energy and other green infrastructure, as well as the issuance of catastrophe bonds to transfer major natural-disaster risks to the capital market. Third, Hong Kong will further foster a vibrant green technology ecosystem and step up investment in frontier green technologies, including through the deployment of "patient capital". Hong Kong will also support Mainland green technologies in expanding into overseas markets.

In the afternoon, Mr Chan called on the Minister of Finance, Mr Lan Fo'an. They had in-depth exchanges on the 15th Five-Year Plan, the national and global economic outlook and fiscal policies, as well as strengthening co-operation between the Mainland and Hong Kong. The Secretary for the Financial Services and the Treasury, Mr Christopher Hui, and the Chairman of the Securities and Futures Commission, Dr Kelvin Wong, also attended the meeting.

Mr Chan also attended the Beijing Night of the China Development Forum 2026 in the evening.

Mr Chan will continue his programme in Beijing tomorrow morning (March 23) and will depart for Hong Kong in the afternoon.

Paul Chan Promotes Hong Kong's Economic Opportunities During New York Visit

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