Paul Chan Promotes Hong Kong's Economic Advantages at World Economic Forum 2025 in Davos.

2025-01-21 09:00 Last Updated At：09:08

FS starts visit in Switzerland to attend World Economic Forum Annual Meeting (with photos/video)

The Financial Secretary, Mr Paul Chan, arrived in Davos, Switzerland, yesterday morning (January 20, Davos time) to participate in the World Economic Forum (WEF) Annual Meeting 2025.

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FS starts visit in Switzerland to attend World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

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FS starts visit in Switzerland to attend World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

Upon arrival, Mr Chan had lunch with several leaders from the finance and business sectors attending the Annual Meeting. He promoted Hong Kong's advantages and value as a "super connector" and "super value-adder" to them. The guests included representatives from large-scale financial, transportation, industrial and technology enterprises from Europe, America, the Middle East and Japan. During the lunch meeting, Mr Chan briefed the guests on Hong Kong's latest economic and social developments, particularly the positive progress made in the local financial market last year, and the achievements in attracting businesses and talent. He emphasised Hong Kong's strategies and measures for developments in finance, innovation and technology, trade and aviation, as well as how to create opportunities for businesses and talent worldwide.

Thereafter, Mr Chan met with the Secretary-General of the Gulf Cooperation Council (GCC), Mr Jasem Mohamed Albudaiwi, to discuss strengthening bilateral trade co-operation. He expressed his gratitude for Mr Albudaiwi's visit to Hong Kong to attend the 18th Asian Financial Forum (AFF). Both parties agreed that the new session "Gulf Cooperation Council Chapter" at the AFF marked a milestone in advancing financial services co-operation between Hong Kong and the Gulf states. Mr Chan also expressed hope for accelerating the signing of a free trade agreement between Hong Kong and the GCC, and noted that the HKSAR Government will actively promote more two-way visits of business delegations, thereby facilitating the matching of projects in the digital economy and green transformation, as well as co-operation in the securities markets, Islamic finance, and asset and wealth management between Hong Kong and the Arab States.

In the afternoon, Mr Chan met with Mr Martin Gilbert, the Chair of Revolut, a UK-based fintech company specialising in digital banking services, to learn about the latest developments in their digital banking operations, cryptocurrency trading and security risk management for digital banking services. Mr Chan noted that Hong Kong has a vibrant fintech ecosystem, and is the best entry point into the Chinese Mainland market. He welcomed Revolut to expand its business in Hong Kong to tap into the Mainland and Southeast Asian markets.

In the evening, Mr Chan attended the welcome reception hosted by the WEF. He will continue his trip in Davos today (January 21, Davos time), including attending the Special Address by Vice Premier of the State Council Mr Ding Xuexiang.

Civil Aviation Department Completes Successful Aeronautical Search and Rescue Exercise Near Lantau Island

CAD search and rescue exercise strengthens collaboration and responsiveness

The Civil Aviation Department (CAD) successfully completed a joint short-range Aeronautical Search and Rescue exercise today (January 12) in the waters near Mong Tung Wan on the Chi Ma Wan Peninsula, Lantau Island.

The exercise involved eight government departments and one search and rescue unit, namely CAD, the Government Flying Service (GFS), the Hong Kong Police Force (HKPF), the Fire Services Department (FSD), the Marine Department (MD), the Civil Aid Service, the Auxiliary Medical Service and the Hong Kong Observatory (HKO), and the Hong Kong Garrison of the Chinese People's Liberation Army (Garrison) respectively.

Today's exercise simulated a helicopter crashing into the sea near Mong Tung Wan on Lantau Island. With the concerted efforts of helicopters and vessels dispatched by the Garrison, the GFS, the HKPF, and the FSD, all three people on board were rescued. The exercise lasted one hour, mobilising around 100 personnel from the participating units.

A spokesperson for the Civil Aviation Department said, "In accordance with the recommendations of the International Civil Aviation Organization, CAD regularly organises Aeronautical Search and Rescue exercises to strengthen co-operation and co-ordination among relevant search and rescue units and promote technical exchanges. This is to ensure a rapid and effective response in the event of an emergency."

This Aeronautical Search and Rescue exercise is divided into two parts: a short-range search and rescue exercise conducted today in the waters near Mong Tung Wan on Lantau Island; and a long-range search and rescue exercise to be conducted tomorrow (January 13) in the South China Sea, approximately 50 nautical miles south of Hong Kong. CAD, together with the GFS, the MD, the Garrison, the Nanhai Rescue Bureau of the Ministry of Transport of the People's Republic of China, and the Guangdong Maritime Rescue Coordination Centre, will jointly deploy fixed-wing aircraft, helicopters and ships to conduct the search and rescue tasks. The entire long-range exercise is expected to be completed in around three hours.

Paul Chan Promotes Hong Kong's Economic Advantages at World Economic Forum 2025 in Davos.

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