Financial Secretary Paul Chan Attends Summer Davos and AIIB Gala in Tianjin and Beijing

2025-06-25 20:39 Last Updated At：22:48

FS continues visit to Tianjin (with photos/video)

The Financial Secretary, Mr Paul Chan, continued his visit to Tianjin today (June 25) to attend the World Economic Forum Annual Meeting of the New Champions 2025 (also known as the Summer Davos). In the evening, he travelled 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 (AIIB).

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FS continues visit to Tianjin Source: HKSAR Government Press Releases

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FS continues visit to Tianjin Source: HKSAR Government Press Releases

In the morning, Premier Li Qiang attended the opening ceremony of 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?". Other regional leaders in attendance included the Prime Minister of Vietnam, Mr Pham Minh Chinh; the Deputy Chairperson of Indonesia's Gerindra Party, Ms Rahayu Saraswati Djojohadikusumo; and the Minister of Industry and Entrepreneurship Development of Sri Lanka, Mr Sunil Handunneththi. The discussion focused on how Asia could address local development and external challenges amid the current geopolitical tensions, trade barriers and technological transformation.

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’s 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 the current international geopolitical and economic environment, Hong Kong is 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, Hong Kong has provided a more stable and secure business environment that allows society to focus on economic development. He pointed out that the performance of Hong Kong's capital markets over the past year, along with surveys conducted by various foreign chambers of commerce, demonstrates 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.

Mr Chan also met with the Chairman ad interim of the World Economic Forum, Mr Peter Brabeck-Letmathe, during which he briefed him on Hong Kong's latest economic developments, including progress in the financial and innovation and technology (I&T) sectors. The two sides also explored opportunities to strengthen co-operation in technological innovation and personnel exchanges. Mr Chan expressed gratitude to the World Economic Forum for offering secondment opportunities to Hong Kong SAR Government personnel, enabling them to gain more international exposure.

During his time in Tianjin, Mr Chan participated in the following activities:

(1) A thematic session titled "Funding China’s Next Tech Breakthrough" hosted by the Hong Kong Exchanges and Clearing Limited, where he shared with representatives from investment banks, funds, asset management firms, I&T companies and think tanks how Hong Kong provides a full range of fundraising options - from start-up investments to stock market listings - to provide financial support to the accelerated development of I&T enterprises;

(2) An exchange session between technology enterprises from Tianjin and Hong Kong organised by Hong Kong Science and Technology Parks Corporation, where Mr Chan introduced the dual advantages of Hong Kong's financial and I&T synergy to I&T enterprises from Tianjin and Hong Kong, and accelerating the development of I&T through financial empowerment. Some members of the I&T delegation on the visit also participated in the session, where they explored collaboration opportunities with Tianjin's I&T companies; and

(3) A gathering hosted by the Hong Kong Chamber of Commerce in Tianjin, where Mr Chan shared updates on Hong Kong’s economy, future development directions, and opportunities for further strengthening co-operation between Tianjin and Hong Kong in finance, trade and I&T.

After concluding his visit to Tianjin, Mr Chan proceeded to Beijing to attend the Host Member Gala Dinner for the 10th Annual Meeting of the Board of Governors of the AIIB.

Mr Chan will attend the 10th Annual Meeting of the Board of Governors of the AIIB tomorrow (June 26).

Nestlé Hong Kong Recalls Additional Infant Formula Over Bacillus Cereus Contamination Concerns

CFS to follow up certain batches of powdered infant and young children formula with possible presence of Cereulide produced by Bacillus cereus

The Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department (FEHD) today (January 10) said that, it took initiative to meet with Nestlé Hong Kong again today, and confirmed the company's today announcement of an additional batch of powdered infant and young children formula suspected to have possibly used the raw material concerned. Nestlé Hong Kong has voluntarily stopped sales, removed from shelves the affected products and has initiated a precautionary recall. The CFS has collected samples of powdered infant and young children formula from the market for Bacillus cereus testing, the test results so far were satisfactory. The Environmental and Ecology Bureau is also closely monitoring the supply situation of other formula milk powder and maintaining communication with other major suppliers. It is noted that there is sufficient formula milk powder to meet the demand.

The spokesman said, the CFS has been actively following up on Nestlé company's voluntary and precautionary recalls of certain batches of its powdered infant and young children formula in certain areas in Europe due to possible presence of Cereulide produced by Bacillus cereus in the individual raw material. According to the latest information from Nestlé Hong Kong today, an additional batch of its powdered infant and young children formula imported into Hong Kong might have used the raw material concerned. The CFS had earlier enhanced surveillance in the market and collected a sample from the above batch for testing of Bacillus cereus. The test result of the sample was satisfactory. Nevertheless, as a precautionary measure, Nestlé Hong Kong has voluntarily stopped sales, removed from shelves the affected products and has initiated a precautionary recall.

Product details are as follows:

Product name (Net weight): NAN PRO 1 2 HMO (800g)

Batch number: 51670742F2

Best-before date: June 16, 2027

Place of Origin: Germany

"The CFS met Nestlé Hong Kong again today, urging them to properly handle the product recall issue and respond to public enquiries, in order to safeguard consumers' legitimate rights and interests. In addition, the CFS and Nestlé Hong Kong have jointly followed up, six suspected affected batches of infant and young children formula products that had not entered the market were marked and sealed. An additional 15 batches are currently en route to Hong Kong and will also be marked and sealed upon arrival. The CFS will continue to closely monitor the recall matters and remain fully committed to ensuring food safety, " the spokesman said.

Nestlé Hong Kong has initiated a recall of the affected batches of the products concerned. For enquiries about the recall, members of the public may contact the company through the following channels:

Consumer services hotline: 2599 8874 / 2797 6031/ 2179 8136 (Monday to Sunday, 9am to 9pm)

Email: consumerservices@hk.nestle.com

WhatsApp: 5283 4139 (NESTLÉ® NAN®) / 2599 8871 (Wyeth® Nutrition)

Online form: forms.office.com/e/BhqMhWfsUG?origin=lprLink

Consumers may choose to bring along the products (brand new or opened) for refund at place of purchase, or at exclusive service counters of Nestlé Nutrition Services from January 13 (Tuesday) onwards, to settle the recall and refund of the batches of the products concerned. Details of the exclusive service counters are as follows:

Kowloon Services Counter

Address: G/F, Park Hovan Commercial Building, 18 Hillwood Road, Tsim Sha Tsui, Kowloon (MTR Jordon Station Exit D)

Contact number: 3996 8196

Office hour: Monday to Saturday, 11am to 7.30pm; Sunday, 1pm to 5.30pm (except public holidays)

Hong Kong Services Counter

Address: 1/F, Ka Nin Wah Commercial Building, 423-425 Hennessy Road, Hong Kong (MTR Causeway Bay Station Exit B)

Contact number: 3996 8197

Office hour: Monday to Saturday, 11am to 7.30pm (except Sundays and public holidays)

The CFS, through its Food Incident Surveillance System, noted earlier that certain batches of Nestlé powdered infant formula were being voluntarily recalled in Europe due to possible contamination with Bacillus cereus. Upon learning of the incident, the CFS has immediately initiated follow up actions, published food incident posts to inform the public and the trade about the issue, and has been actively following up on the incident and enhanced surveillance.

Over the past three days (as of 4pm on January 9), the FEHD received a total of 18 food complaints and enquiries suspected to be related to the infant and young children formula products, including one anonymous complaint without contact information. The CFS and the Environmental Hygiene Branch have promptly followed up on all cases, including contacting the parties concerned to obtain details and collecting samples for testing. In addition, the CFS has referred the cases to the health department for follow-up. At present, no food poisoning cases related to the formula have been recorded.

Bacillus cereus is commonly found in the environment. Unhygienic conditions in food processing and storage may give rise to its growth. Cereulide is a heat-stable toxin produced in food by some strains of Bacillus cereus. Consuming food contaminated with excessive Bacillus cereus or its heat-stable toxins may cause gastrointestinal upset such as vomiting and diarrhoea.

The spokesman urged members of the public not to let infants and young children consume the affected batches of the products, and to seek medical treatment for infants or young children who felt unwell after taking the products concerned. The trade should also stop using or selling the affected batches of the products immediately.

"The CFS continues to closely monitor the developments of the situation, follow up and take appropriate action," the spokesman said.

Financial Secretary Paul Chan Attends Summer Davos and AIIB Gala in Tianjin and Beijing

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