Speech by FS at Belgian King's Day Reception (with photos/video)
Following is the speech by the Financial Secretary, Mr Paul Chan, at Belgian King's Day Reception today (November 14):
Consul General Lomastro (Consul General of Belgium in Hong Kong, Mr David Lomastro), Deputy Commissioner Hua You (Deputy Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), Ambassador Harvey Rouse (Head of the European Union Office to Hong Kong and Macao), Consuls-General, distinguished guests, ladies and gentlemen,
Good evening.
It is my pleasure to join you in celebrating Belgium's King's Day — a day to honour His Majesty King Philippe.
I'm also delighted to take this opportunity to address the Belgian community here in Hong Kong, and extend my warm regards to the Consul General, who has been with us since August 2022.
Back in 2022, Hong Kong — like much of the world — was just beginning to emerge from the shadow of the pandemic. We have come a long way since then.
Over the past few years, despite various challenges, Hong Kong has remained firmly anchored in the core principles that define us under the "one country, two systems" framework: common law and the rule of law, free port status allowing free flow of capital, talent, goods and information, and a low and simple tax regime. Equally unwavering is our openness to international businesses and talent — a key strength that enables us to serve as the bridge between the Chinese Mainland and the rest of the world.
In a global landscape increasingly marked by unilateralism, protectionism and uncertainty, we believe that staying true to these values is the best way to navigate shifting terrain and seize emerging opportunities.
This year has been a promising one for Hong Kong. Our financial markets have been among the world's top performers — not just in equities and IPOs, but also in bond issuance, asset and wealth management, green and sustainable finance, and digital assets. These developments reflect the confidence that international investors continue to have in Hong Kong as a global financial hub and a destination for opportunities.
Our economy is also showing solid momentum. Just earlier today, we revised our GDP growth forecast for the year to 3.2 per cent, driven by strong exports and a remarkable surge in tourism. The number of international visitors has grown by around 16 per cent, and we are seeing a steady return and growth of global flight connections — including, as the Consul General mentioned, the welcome resumption of direct flights between Hong Kong and Brussels.
Looking ahead, Hong Kong is well-positioned to create even more opportunities for global investors — including those from Belgium and across Europe. The recent Fourth Plenary Session of the CPC Central Committee laid out the country's development roadmap under the upcoming 15th Five-Year Plan, reaffirming China's commitment to high-level, two-way opening up.
In essence, China is welcoming more foreign investments and businesses, while at the same time encouraging Mainland enterprises to go global, to reconfigure their supply chain and industry chain, and to open up new markets.
For Belgian and European businesses, Hong Kong offers a familiar and trusted platform from which to explore the vast opportunities on the Chinese Mainland and across Asia, especially in the dynamic Guangdong-Hong Kong-Macao Greater Bay Area.
But Hong Kong is more than just a financial and trading hub. We are building a new engine of growth powered by innovation and technology which offers great collaboration opportunities with Belgian companies and institutions.
The Northern Metropolis is the carrier of this vision, and we are fast-tracking the development of this new land of opportunity.
A key highlight for Belgium businesses is the Hetao Shenzhen-Hong Kong Science and Technology Co-operation Zone along the Shenzhen River. There will be many policies breakthrough in this zone — for example, the seamless cross-boundary flow of people, capital, goods, data and even biosamples. For instance, clinical trial institutions from both sides are now working together in the zone to accelerate clinical trials, streamline approval process, and shorten time-to-market for new drugs and medical devices developed there. I believe this is particularly attractive for Belgium's world-class pharmaceutical companies.
Sustainability is another key area of common interest between Hong Kong and Belgium. We are the sustainable finance hub of Asia, and I look forward to Belgian and Hong Kong institutions to work together to provide leadership on the path to net-zero emissions.
Meanwhile, art, culture and entertainment are also vital pillars of our collaboration and exchange.
That spirit is on full display during the Belgian Days in Hong Kong, starting from today as the Consul General mentioned. Ten days of food, beer, fun, film, art and exhibitions — and yes, even a chocolate festival. Very much my kind of festival.
Residents and visitors alike will no doubt savour every moment, and for that, I thank the Consulate for bringing this wonderful experience to life.
Before I close, for all Hong Kong residents here, I encourage you to vote at the Legislative Council Election on December 7. It is important for our future.
Thank you very much.
Speech by FS at Belgian King's Day Reception Source: HKSAR Government Press Releases
Speech by FS at Belgian King's Day Reception Source: HKSAR Government Press Releases
