Hong Kong Customs hosts International Customs Day 2026 Reception
Officiated by the Financial Secretary, Mr Paul Chan, and the Commissioner of Customs and Excise, Mr Chan Tsz-tat, a reception for International Customs Day (ICD) 2026 was held by Hong Kong Customs at the Hong Kong Convention and Exhibition Centre today (January 27).
The World Customs Organization (WCO) set the theme of this year's ICD as "Customs protecting society through vigilance and commitment", highlighting Customs' staunch dedication and unwavering efforts in law enforcement to safeguard national security and foster social prosperity.
The Financial Secretary, Mr Paul Chan, commended Hong Kong Customs for its far-reaching responsibilities and essential service, from facilitating travel and trade and connecting Hong Kong with the world, to law enforcement and safeguarding the well-being of the public. He said that, amid structural changes in the global trade and economic landscape driven by geopolitical shifts, technological transformation and supply-chain realignment, Hong Kong, as the country's southern gateway, and as a "super connector" and "super value-adder", stands to benefit. But it will also face new challenges.
Mr Chan noted that, under the new circumstances, Hong Kong Customs must continue to evolve. Empowering law enforcement with technologies and strengthening collaboration with Mainland and overseas partners are important. He looked to Hong Kong Customs to make greater contributions to international customs co-operation.
In his speech, Mr Chan Tsz-tat highlighted the profound and transformative impacts brought by artificial intelligence on daily life, and that Hong Kong Customs has actively applied innovative technologies to enhance trade facilitation and boundary security to foster economic development and safeguard social stability. He also expressed appreciation to colleagues for their commitment to strive for excellence in law enforcement to enhance public well-being. He stressed that Hong Kong Customs will stay committed to be a modern, efficient, and forward-looking law enforcement agency.
Hong Kong Customs became a member of the WCO in 1987, and ICD has become an annual event of Hong Kong Customs ever since. At the reception, Mr Paul Chan presented WCO Certificates of Merit to Hong Kong Customs' officers and a business stakeholder in recognition of their remarkable contributions to various customs affairs pertinent to the theme of ICD.
Over 300 guests, including officials of the Government of the Hong Kong Special Administrative Region, members of the Executive and Legislative Councils, representatives of various offices of the Central People's Government in Hong Kong and Customs administrations of the Chinese Mainland and Macao, Consuls-General, foreign Customs attachés, as well as private stakeholders, attended the reception.
The Commissioner of Customs and Excise, Mr Chan Tsz-tat, Source: HKSAR Government Press Releases
The Financial Secretary, Mr Paul Chan, Source: HKSAR Government Press Releases
Hong Kong Customs hosts International Customs Day 2026 Reception Source: HKSAR Government Press Releases
Speech by FS at 3rd Hong Kong Capital Markets Forum 2026 (with photos/video)
Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Capital Markets Forum 2026 today (January 28):
(Director-General of the Economic Affairs Department of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region, Mr Xu Weigang), Clement (Chairman of the Hong Kong Association of Registered Public Interest Entity Auditors Limited, Mr Clement Chan), Kenneth (Executive Deputy Chairperson of the Chamber of Hong Kong Listed Companies, Dr Kenneth Lam), Kelvin (Chairman of Securities and Futures Commission, Dr Kelvin Wong), David (Chairman, Accounting and Financial Reporting Council, Dr David Sun), distinguished guests, ladies and gentlemen,
Good morning. It is a pleasure to join you at the third Hong Kong Capital Markets Forum. This year's theme, "Capturing the Next Growth Momentum," aptly reflects where Hong Kong stands today, and puts a spotlight on how to ensure financial services as a lasting engine of our economic growth.
Review of 2025
Looking back at 2025, market sentiment and global capital flows were shaped by a complex mix of geopolitical tensions, technological disruption, as well as unilateralism, tariff and policy unpredictability of certain jurisdictions. Many of us will remember the volatility that followed the "Liberation Day" shock, which reverberated across global markets.
Yet the Hong Kong market remained resilient and delivered a strong performance in 2025. The Hang Seng Index rose by 28 per cent. Average daily turnover increased by about 90 per cent to nearly HK$250 billion. The IPO (initial public offering) market was also vibrant, with 119 new listings raising over HK$280 billion, placing Hong Kong at the top of the global IPO league table.
The broader financial sector also demonstrated renewed confidence. Bank deposits rose by 12 per cent to HK$19.4 trillion. In asset and wealth management, Hong Kong-domiciled funds recorded net capital inflows of more than HK$380 billion in the first 11 months of 2025.
These capital inflows reflect global investors' confidence in Hong Kong and the underlying vitality of our market. One reason they choose Hong Kong is our policy predictability and consistency. Under the "one country, two systems" arrangement, Hong Kong is a free port. We sticked to this core value and did not retaliate against unilateral tariffs. In a world where investors increasingly value stability, transparency and freedom of capital movement, Hong Kong stands out as safe harbour for capital, and for many, a trusted platform to do business.
Another reason is the value being created and unleashed in this part of the world - particularly by Chinese technology firms. The "DeepSeek Moment" last year prompted investors at home and abroad to reassess the capabilities, competitiveness and value of China's technology companies. Many also realised that, up till then, they had under-allocated to the Mainland and Hong Kong markets.
Hong Kong going forward
Going forward, how do I see Hong Kong's capital markets developing in 2026? I am cautiously optimistic, for several reasons.
First, shifts in the geopolitical landscape - especially rising unilateralism and power politics - are prompting investors to diversify their asset allocation. Diversification is now the key theme. Governments and financial institutions are seeking greater strategic resilience. Recent movements in gold and silver prices reflect the growing interest in alternatives to US (United States) dollar denominated assets.
Second, China's development remains steady and positive. Last year, the Chinese economy met its growth target of 5 per cent, and growth this year is widely expected to be in the range of 4.5 per cent to 5 per cent. The year 2026 marks the start of the 15th Five-Year Plan period. China is pressing ahead with high-level, two-way opening-up, while pursuing technological self-reliance and integrating technological innovation with industry development. These will continue to power high-quality development for the country. China's technological potential should not be under estimated, and it will remain a key focus for international investors.
Just last week, I attended the World Economic Forum in Davos, Switzerland. Indeed, across regions, investors generally expressed optimism about the opportunities in China and in Hong Kong.
In my view, the global environment is shifting in ways that create new and favourable opportunities for Hong Kong. Our challenge is how to seize the moment and deliver tangible outcomes. More specifically, that involves supporting the country's high-quality development; matching the needs of Mainland enterprises going global and the appetite of international investors; and, at the same time, driving Hong Kong's own growth.
This will require us to further upgrade and deepen our capital markets, so that they stay competitive, resilient and well-positioned for the next phase of growth. In this regard, we are working on three priorities.
Our priorities
The first is to strengthen the competitiveness and appeal of our stock market. Over the years, we have undertaken listing reforms, such as Chapters 18A and 18C, to better support fundraising by new economy companies. Currently, we have asked HKEX (the Hong Kong Exchanges and Clearing Limited) to conduct another review of the listing regime to keep pace with the evolving needs of issuers and investors. It is also working on enhancements to the issuance framework for structured products, and exploring regional co-operation in products such as ETFs (exchange-traded funds).
At the same time, HKEX is also advancing initiatives to improve trading efficiency and risk management. These include board lot reforms, transition to an uncertificated securities market, and moving towards a T+1 settlement cycle as soon as practicable.
We also see significant scope to better utilise stocks and bonds held in custody. Last year, the Hong Kong Monetary Authority and HKEX entered into strategic co-operation on CMU OmniClear. The aim is to turn it into a multi-asset class platform that provides custodian services to both equity and debt securities. This will enhance interoperability in depository and collateral management, and facilitate more efficient use of such assets as collaterals to enhance their liquidity and return.
The second priority is to strengthen other parts of our capital markets, especially in areas of strategic importance. Our efforts focus on two directions. First, reinforcing our traditional strengths, such as asset and wealth management, and fixed income and currency markets. Second, developing new growth areas, including gold and commodities trading. Just two days ago, the HKSAR (Hong Kong Special Administrative Region) Government signed a co-operation agreement with the Shanghai Gold Exchange. This covers, among other things, a new gold central clearing system, gold storage facilities, and closer co-operation in physical gold trading. With these, a whole range of derivative products and services can be developed.
The third priority is to build a more vibrant offshore Renminbi (RMB) market. As more Mainland enterprises expand overseas and deepen co-operation with international partners, cross-border RMB usage is naturally increasing. We will continue to enhance offshore RMB liquidity, strengthen the supporting infrastructure and broaden the range of RMB-denominated investment and risk-management products. With the support of the relevant Central Authorities, we will further expand the breadth and depth of the various Connect schemes. In the process, we will also contribute to the prudent internationalisation of the RMB.
Concluding remarks
Ladies and gentlemen, the year 2026 will bring both challenges and opportunities. With Hong Kong's unique strengths under the "one country, two systems" arrangement, and with our concerted commitment to reinvent our capital markets, I am confident that we can capture the next growth momentum and bring Hong Kong's IFC (international financial centre) status to new heights. Thank you very much.
Speech by FS at 3rd Hong Kong Capital Markets Forum 2026 (with photos/video) Source: HKSAR Government Press Releases
Speech by FS at 3rd Hong Kong Capital Markets Forum 2026 (with photos/video) Source: HKSAR Government Press Releases
