Paul Chan Discusses Decarbonization and Global Finance at World Economic Forum in Davos

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video)

The Financial Secretary, Mr Paul Chan, yesterday (January 22, Davos time) continued his programme at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland. He attended a thematic session and met with leaders from political, business, and international organisations from around the world.

In the morning, Mr Chan attended a thematic session titled "How to Finance Decarbonization?" and served as a speaker. The session focused on how, amid global economic slowdown, high debt levels in advanced economies and geopolitical developments, public-private collaboration can continue to support the goal of achieving carbon neutrality.

During the discussion session, Mr Chan pointed out that both the country and Hong Kong are firmly and steadily progressing towards the goal of carbon neutrality. He shared Hong Kong's target of achieving carbon neutrality by 2050 and the strategies to realise it. These include leveraging government policy to steer behavioural changes among enterprises and consumers, such as providing tax concessions for electric vehicles and incentives for green buildings. He also mentioned financial support for trials of innovative technologies, such as sustainable hydrogen-powered transport, to encourage innovation.

As an international financial centre, Hong Kong actively facilitates private capital participation in the decarbonisation process through a rich green finance ecosystem, such as green bonds and Environmental, Social and Governance (ESG) funds. The Hong Kong Special Administrative Region (HKSAR) Government also encourages financial innovation, including the issuance of tokenised green bonds to allow wider investor participation in green projects, and the securitisation of loans for infrastructure projects to release capital for reinvestment into new projects.

Mr Chan stressed that public support and trust are key to achieving a green transition. The HKSAR Government ensures that funds are genuinely used for green projects by formulating internationally aligned standards, including a green taxonomy and disclosure requirements. For high-emission enterprises, such as mining companies, listing in Hong Kong not only enables them to access capital to support their development but also helps enhance their corporate governance, transparency and recognition in global markets.

Mr Chan also continued to meet with leaders from political, business and international organisations yesterday, including the President and Chief Executive Officer of the WEF, Mr Børge Brende, and the First Deputy Managing Director of the International Monetary Fund, Mr Dan Katz, to exchange views on global finance and issues of mutual concern, and to share Hong Kong's perspective.

Mr Chan also held separate meetings with the Global Chairman of PricewaterhouseCoopers, Mr Mohamed Kande; the Chief Executive Officer of AXA Group, Mr Thomas Buberl; and the Vice President of Global Public Policy of Amazon Web Services, Mr Michael Punke, to exchange views on the current global economic and market situation, as well as technological development.

Mr Chan has concluded his visit to Davos. He will depart Switzerland today (January 23, Davos time), and return to Hong Kong on Saturday morning (January 24, Hong Kong time).

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

FS concludes attendance at World Economic Forum Annual Meeting (with photos/video) Source: HKSAR Government Press Releases

HKETO Kuala Lumpur celebrates Year of Horse in Penang

The Hong Kong Economic and Trade Office in Kuala Lumpur (HKETO Kuala Lumpur) hosted a Chinese New Year dinner in Penang, Malaysia, today (January 23) to celebrate the Year of the Horse. The Director-General of the Hong Kong Economic and Trade Office in Jakarta, Miss Libera Cheng, and the Chief Minister of Penang, Mr Chow Kon Yeow, officiated at the event.

In her welcome speech, Miss Cheng said that Hong Kong's commercial ties with Malaysia have grown from strength to strength. Bilateral trade in goods in the first three quarters of 2025 amounted to US$24 billion, representing a year-on-year hike of 25 per cent. She also thanked the Malaysian Government and different sectors of the community for their support, contributing to the smooth commencement of operation of the HKETO Kuala Lumpur in December 2025.

"In tandem with the series of measures rolled out by the Chief Executive in his latest Policy Address, including the establishment of the Economic and Trade Express platform and the Task Force on Supporting Mainland Enterprises in Going Global, the HKSAR Government will endeavour to assist Chinese Mainland and Hong Kong enterprises to explore business opportunities in Penang and other parts of Malaysia. I also encourage Penang businessmen to leverage the Hong Kong platform to tap into the immense potential of the Guangdong-Hong Kong-Macao Greater Bay Area, especially the various I&T and development projects in the Northern Metropolis."

She added that Hong Kong will continue to consolidate its people-to-people bonds with Penang, including promoting Chinese culture through mega events such as the Penang International Dragon Boat Regatta and fostering youth exchange by attracting more students to pursue further studies in Hong Kong under the "Study in Hong Kong" brand.

"The frequency of passenger flights between Hong Kong and Penang has further increased to thrice daily, laying a solid foundation for interactions in different facets. This also facilitates global tourists to visit Penang via Hong Kong International Airport, echoing the Visit Malaysia 2026 campaign. With the efforts of the HKETO Kuala Lumpur, our bilateral relations will become even closer."

Also attending the dinner were the Chinese Consul-General in Penang, Mr Zhou Youbin; the Regional Director of South East Asia and South Asia of the Hong Kong Trade Development Council, Mr Leung Kwan-ho; the President of the Hong Kong-Malaysia Business Association, Dato' Dixon Chew; the Penang State Executive Councillor for Tourism and Creative Economy, Mr Wong Hon Wai, and some 300 leaders of the local government and business sectors.

HKETO Kuala Lumpur celebrates Year of Horse in Penang Source: HKSAR Government Press Releases

HKETO Kuala Lumpur celebrates Year of Horse in Penang Source: HKSAR Government Press Releases

HKETO Kuala Lumpur celebrates Year of Horse in Penang Source: HKSAR Government Press Releases