Paul Chan Highlights Hong Kong-Italy Ties at Italian Chamber Gala Dinner

Speech by FS at Gala Dinner of Italian Chamber of Commerce in Hong Kong and Macao

Following is the speech by the Financial Secretary, Mr Paul Chan, at theGala Dinner of the Italian Chamber of Commerce in Hong Kong and Macao today (November 7):

Ambassador Ambrosetti (Ambassador of Italy to China, Mr Massimo Ambrosetti),Consul General Ficarra (Consul General of Italy to Hong Kong and Macao, Mr Carmelo Ficarra), Ambassador Harvey Rouse (Head of the European Union Office to Hong Kong and Macao), Mr Davide De Rosa (President of the Italian Chamber of Commerce in Hong Kong and Macao), distinguished guests, ladies and gentlemen,

Buona sera. Good evening. It is truly a pleasure to join you once again at the Annual Gala Dinner of the Italian Chamber of Commerce. This is a splendid and memorable evening - a celebration of enduring friendship, warm company and great fun, as well as a valuable opportunity for networking and forging deeper co-operation.

This evening reminds me of the many qualities that connect Hong Kong and Italy - not just by fine cuisines, great wines and designer handbags, but also by our shared passion for creativity, craftsmanship and elegance. Whether it is the style and sophistication of Italian design, or the dynamism of Hong Kong's business and cultural scenes, we are both driven by a relentless pursuit of excellence.

Last year at this very dinner, I spoke about Hong Kong's role as the gateway to the Chinese Mainland and the broader Asian region. Tonight, I would like to expand on that, particularly in light of the global geoeconomic landscape and China's development strategy.

Despite shifting tides of geopolitics, Hong Kong continues to be open, welcoming, and firmly committed to free trade and investment. Under the "one country, two systems" framework, we proudly serve as a "super connector" and "super value-adder", linking businesses, capital, people, ideas and opportunities across borders.

This strategy has proven to be both right and rewarding. We are seeing renewed confidence and optimism in Hong Kong by global investors and businesses. The remarkable surge in our stock market, and growing international recognition of Hong Kong's strengths and competitiveness, are clear and encouraging indicators of this positive development.

We continue to be ranked as the world's freest economy, and we stand among the top three global financial centres. We came third globally in international competitiveness according to the IMD (International Institute for Management Development). Earlier this year, all three major international credit rating agencies reaffirmed Hong Kong's strong credit ratings.

These encouraging recognitions motivate us to go further and to chart new frontiers.

Last year, I also shared about Hong Kong's commitment to innovation and technology. We stay on course, striving to build an even more vibrant technology sector to drive our next phase of growth. That will diversify our economic structure and provide more quality career opportunities for our people. Our focus is on AI and data science, biotech, fintech, new energy and new materials - areas that we hold clear competitive advantages.

And the carrier of our vision is the Northern Metropolis. We are accelerating its development through two major approaches.

First, policy innovation. We are dismantling barriers and embracing bold, flexible development models - such as large-scale land disposals - to fast-track integrated development of land, infrastructure and industries. More flexible, tailor-made incentive packages will be offered to attract top-notch global enterprises.

Second, further deepening cross-boundary collaboration with other cities in the Greater Bay Area. The Shenzhen-Hong Kong co-operation zone is a focal point, with innovative policies. For example, seamless flow of capital, goods, talent, data and even biosamples in this zone, plus a streamlined regulatory process to shorten the time to market of drugs and medical devices developed there. This zone will be very attractive to firms in AI, biotech and pharmaceutical products.

Italian companies and start-ups are most welcome to be part of this exciting journey. Set up your R&D (research and development) centres here. Collaborate with our universities and research institutions. Establish advanced manufacturing facilities. Explore our thriving innovation and technology ecosystem.

Above all, we invite Italian businesses to make use of Hong Kong as your platform to expand into the Chinese Mainland and the broader Asian region. And our vibrant financial sector stands ready to help them in raising the funds needed to support their business expansion.

As China advances its high-level two-way opening up, we are elevating our strategic role as a two-way platform - helping Hong Kong and Mainland businesses go global, while helping foreign businesses to seize the opportunities in China and Asia through our city.

I am delighted to share that later this month, I will lead a high-level business delegation to Milan. The delegation will include representives from the Government and related public organisations, business associations, and about 30 to 40 Hong Kong and Mainland enterprises from sectors such as finance, medical and health, green and sustainability, transport and logistics, as well as professional services.

We will be there to explore partnership opportunities with Italian businesses - to invest in Italy, expand further into Europe, and help bring more Italian businesses into the immense opportunities of China and Asia.

Before I close, allow me to express my heartfelt gratitude to the Italian Chamber of Commerce and the Italian Consulate-General for your steadfast support and partnership over the years. Your efforts have played a vital role in strengthening the ties and friendship between our communities, and fostering more collaboration in business and cultural exchanges.

May your businesses flourish, your connections grow stronger, and may our friendship continue to deepen and thrive.

Grazie. Thank you.

Source: AI-found images

Speech by FS at Gala Dinner of Italian Chamber of Commerce in Hong Kong and Macao Source: HKSAR Government Press Releases

Speech by FS at Gala Dinner of Italian Chamber of Commerce in Hong Kong and Macao Source: HKSAR Government Press Releases

Source: AI-found images

Whale carcass found in Ham Tin Wan

The Agriculture, Fisheries and Conservation Department (AFCD) received a referral from 1823 this morning (January 29) regarding the discovery of a suspected whale carcass in Ham Tin Wan, Sai Kung. The AFCD staff, together with personnel from Ocean Park Hong Kong and Ocean Park Conservation Foundation, Hong Kong, immediately attended the scene for investigation.

Preliminary assessment indicates that the carcass measured approximately 11 metres in length. Due to the severe decomposition, a necropsy cannot be further conducted to determine the cause of death. Staff are working to dispose of the carcass and clean up the area as quickly as possible, with completion expected tomorrow. Meanwhile, members of the public should avoid approaching the area to prevent hindering the disposal process and causing danger.

The deceased whale was not a local species. It is preliminarily believed to be a baleen whale. Based on the degree of decomposition of the carcass, it is estimated to have been dead for some time. It is believed that the carcass drifted into the waters of Ham Tin Wan from the open seas.

According to records, baleen whales are distributed almost globally across oceans, with different species inhabiting distinct waters. Baleen whales typically forage in the cold, high-latitude waters around the Arctic and Antarctic during the summer. In the winter, they migrate to warmer, low-latitude or tropical waters for breeding and nurturing their young.

The AFCD urges the public to report any whale sightings or stranded cetaceans immediately by calling 1823 or using the 1823 mobile application. Members of the public are reminded to maintain a safe distance from cetaceans, and prioritise personal safety to avoid dangerous situations.

Whale carcass found in Ham Tin Wan Source: HKSAR Government Press Releases

Whale carcass found in Ham Tin Wan Source: HKSAR Government Press Releases

Whale carcass found in Ham Tin Wan Source: HKSAR Government Press Releases

Whale carcass found in Ham Tin Wan Source: HKSAR Government Press Releases