Financial Secretary Paul Chan Optimistic About Hong Kong's Market in Year of the Horse

2026-02-20 11:20 Last Updated At：12:52

Speech by FS at Year of the Horse Market Open Celebration Ceremony

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Year of the Horse Market Open Celebration Ceremony today (February 20):

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The Financial Secretary, Mr Paul Chan, attended the Year of the Horse Market Open Celebration Ceremony today (February 20). Photo shows (from fifth left) the Chairman of the Securities and Futures Commission, Dr Kelvin Wong; the President of the Legislative Council, Dr Starry Lee; Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR) Mr Zhang Yong; the Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX), Mr Carlson Tong; Mr Chan; the Chief Executive Officer of the HKEX, Ms Bonnie Chan; Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR Mr Li Yongsheng; the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and other guests officiating at the gong-striking ceremony. Source: HKSAR Government Press Release

The Financial Secretary, Mr Paul Chan, attended the Year of the Horse Market Open Celebration Ceremony today (February 20). Photo shows (from fifth left) the Chairman of the Securities and Futures Commission, Dr Kelvin Wong; the President of the Legislative Council, Dr Starry Lee; Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR) Mr Zhang Yong; the Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX), Mr Carlson Tong; Mr Chan; the Chief Executive Officer of the HKEX, Ms Bonnie Chan; Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR Mr Li Yongsheng; the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and other guests at the ceremony. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, speaks at the Year of the Horse Market Open Celebration Ceremony today (February 20). Source: HKSAR Government Press Releases

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Photo source: reference image

The Financial Secretary, Mr Paul Chan, attended the Year of the Horse Market Open Celebration Ceremony today (February 20). Photo shows (from fifth left) the Chairman of the Securities and Futures Commission, Dr Kelvin Wong; the President of the Legislative Council, Dr Starry Lee; Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR) Mr Zhang Yong; the Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX), Mr Carlson Tong; Mr Chan; the Chief Executive Officer of the HKEX, Ms Bonnie Chan; Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR Mr Li Yongsheng; the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and other guests officiating at the gong-striking ceremony. Source: HKSAR Government Press Release

The Financial Secretary, Mr Paul Chan, attended the Year of the Horse Market Open Celebration Ceremony today (February 20). Photo shows (from fifth left) the Chairman of the Securities and Futures Commission, Dr Kelvin Wong; the President of the Legislative Council, Dr Starry Lee; Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR) Mr Zhang Yong; the Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX), Mr Carlson Tong; Mr Chan; the Chief Executive Officer of the HKEX, Ms Bonnie Chan; Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR Mr Li Yongsheng; the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and other guests at the ceremony. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, speaks at the Year of the Horse Market Open Celebration Ceremony today (February 20). Source: HKSAR Government Press Releases

Today marks the first trading day of the Year of the Horse. It’s a timely moment to reflect on the past and look ahead for the opportunities before us.

We had a successful Year of the Snake, with the Hang Seng Index rising by nearly 6 500 points, up by 32 per cent. IPO (initial public offering) and follow-on fundraising were both robust. Market liquidity improved markedly, and sources of capital were highly diversified.

I remain cautiously optimistic for the year ahead. Like a fine horse, our market will continue its resilience and vigour despite all the challenges. We will continue to accelerate reforms to support innovative and high-growth companies as well as overseas companies to list in Hong Kong. We will also fully leverage Hong Kong’s unique role as a two-way platform under the “one country, two systems” framework: deepening connectivity with both the Mainland and international markets, broadening our product offerings, attracting more global issuers and investors, and enhancing our financial infrastructure.

With the strong support from our country and close collaboration across the Government, regulators and the industry, I’m confident that Hong Kong’s capital market will continue to advance with strength and vitality. Thank you, and best wishes for a prosperous Year of the Horse.

Hong Kong Celebrates Year of the Horse at Spring Reception, Highlighting Economic Ties with the U.S.

New York ETO marks Year of the Horse in New York

The Hong Kong Economic and Trade Office in New York (New York ETO) welcomed the Year of the Horse at its annual Hong Kong Spring Reception in New York on February 18 (New York time), attended by more than 400 guests from the academic, business, cultural, government, media, non-profit and think tank sectors.

In her welcoming remarks, the Director of the New York ETO, Ms Maisie Ho, highlighted the steadfast economic and trade ties between Hong Kong and the United States. In 2025, the number of American companies in Hong Kong has increased by 11 per cent, reflecting continued confidence in the city's open and dynamic business environment. The latest survey by the American Chamber of Commerce in Hong Kong also showed rising optimism, with most firms planning to maintain or expand their investment in the coming year.

Ms Ho noted that Hong Kong's economy has demonstrated resilience, with advance estimates projecting GDP growth of 3.5 per cent in 2025. The city continues to attract global business and investment. In 2025, Hong Kong ranked first worldwide in IPO fundraising, raising US$37.4 billion across 119 listings, including two of the five largest IPOs globally. As at end-2025, Hong Kong was home to over 3 380 single-family offices, an increase of more than 25 per cent over two years.

Building on its strong economic momentum, Hong Kong is pressing ahead with the development of the Northern Metropolis to drive innovation-led growth. At the same time, the city is reinforcing its position as an international education hub – attracting outstanding students and global talent, while showcasing our world-class universities and research excellence.

To further deepen engagement across New York and the eastern United States, Ms Ho said the New York ETO will continue working closely with Invest Hong Kong and the Hong Kong Trade Development Council through the Economic and Trade Express platform. Together, they will step up joint trade and investment promotion activities, identify new market opportunities, and support both Hong Kong and the Chinese Mainland enterprises in expanding their global footprint.

"The horse symbolises vitality, resilience and momentum," said Ms Ho. "Galloping into the Year of the Horse, Hong Kong embraces new opportunities with agility and determination. We will continue to transform ourselves amid global shifts, while maintaining our competitive edge as a premier hub for business, finance, trade and innovation, and foster partnerships and global connections worldwide."

The reception featured a musical programme blending elements of Chinese New Year, the Year of the Horse and Western instruments. The pieces were composed by renowned Hong Kong composer Elliot Leung and performed by New York-based young musicians from Hong Kong. Mr Leung's work will also be featured in the upcoming New York Philharmonic's Lunar New Year Gala, showcasing Hong Kong's creative contributions on the international stage.

Financial Secretary Paul Chan Optimistic About Hong Kong's Market in Year of the Horse

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