FS Attends China Development Forum 2026 in Beijing

FS attends China Development Forum 2026

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22).

Mr Chan attended the opening session and a thematic symposium of the China Development Forum 2026 in the morning. He also spoke at the thematic symposium titled "Global Green, Low-carbon Transition and Sustainable Development" in the afternoon.

In his remarks at the symposium, Mr Chan said that, from an economic perspective, estimates project that by 2050 climate change could cause annual losses of up to US$38 trillion to agriculture, infrastructure and productivity. To achieve the goals of the Paris Agreement, the world still faces an annual funding gap of more than US$4.4 trillion. While some countries have withdrawn from international co-operation frameworks, the momentum of the green transition continues to advance. Investment in clean energy exceeded US$2.2 trillion by 2025, accounting for about two-thirds of global energy investment, with China contributing about one-third.

Mr Chan stressed that China is not only a participant in global climate governance, but also a steadfast practitioner and leader, making steady progress towards the "3060" dual carbon goals. The country's 15th Five-Year Plan will embed green development deeply into industrial upgrading and infrastructure development, accelerating a comprehensive green transition across economic and social development and setting out a number of binding targets. As a Special Administrative Region of the country, Hong Kong is firmly advancing towards carbon neutrality, with targets of halving carbon emissions by 2035 and achieving carbon neutrality by 2050. It has been making solid progress. In 2024, Hong Kong's per capita carbon emissions fell to about 4.4 tonnes, roughly one-quarter of that of the United States and 60 per cent of that of the European Union. Looking ahead, Hong Kong will continue to take forward its decarbonisation work along four major directions, namely net-zero electricity generation, energy saving and green buildings, green transport and waste reduction.

He noted that Hong Kong is committed to contributing "Hong Kong's strength" to the regional and global green transition, leveraging two core engines of green finance and green technology. First, Hong Kong will consolidate and enhance its role as a regional green finance hub. This includes maintaining its leading position in green and sustainable debt and integrating blockchain technology with green finance to attract more green capital. At the same time, Hong Kong will continue to align its green finance standards with international best practices. Second, Hong Kong will proactively develop innovative financial instruments to channel greater funding into green projects. Examples include infrastructure securitisation to mobilise global capital for renewable energy and other green infrastructure, as well as the issuance of catastrophe bonds to transfer major natural-disaster risks to the capital market. Third, Hong Kong will further foster a vibrant green technology ecosystem and step up investment in frontier green technologies, including through the deployment of "patient capital". Hong Kong will also support Mainland green technologies in expanding into overseas markets.

In the afternoon, Mr Chan called on the Minister of Finance, Mr Lan Fo'an. They had in-depth exchanges on the 15th Five-Year Plan, the national and global economic outlook and fiscal policies, as well as strengthening co-operation between the Mainland and Hong Kong. The Secretary for the Financial Services and the Treasury, Mr Christopher Hui, and the Chairman of the Securities and Futures Commission, Dr Kelvin Wong, also attended the meeting.

Mr Chan also attended the Beijing Night of the China Development Forum 2026 in the evening.

Mr Chan will continue his programme in Beijing tomorrow morning (March 23) and will depart for Hong Kong in the afternoon.

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22). Photo shows Mr Chan (right) attending the China Development Forum 2026 and exchanging with guests. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22). Photo shows Mr Chan (left) attending the China Development Forum 2026 and taking a photo with the Founder and the Chief Executive Officer of BrainCo, Dr Han Bicheng (right). Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22). Photo shows Mr Chan (second left on stage) attending the China Development Forum 2026 and participating in thematic symposium titled "Global Green, Low-carbon Transition and Sustainable Development". Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22). Photo shows Mr Chan (right) attending the China Development Forum 2026 and taking a photo with Professor of Columbia University, Professor Jeffrey Sachs (left). Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22). Photo shows Mr Chan (second left) attending the China Development Forum 2026 and speaking at the thematic symposium titled "Global Green, Low-carbon Transition and Sustainable Development". Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, continued his visit in Beijing today (March 22). Photo shows Mr Chan (left) calling on the Minister of Finance, Mr Lan Fo'an (right). Source: HKSAR Government Press Releases

Man sentenced to 10 months' imprisonment for smuggling dried seahorses

A 69-year-old Indonesian man, who smuggled dried seahorses into Hong Kong, was convicted at the District Court today (July 29) for violating the Protection of Endangered Species of Animals and Plants Ordinance (Cap. 586) and sentenced to10 months'imprisonment.

A spokesman for the Agriculture, Fisheries and Conservation Department (AFCD) said that the male passenger arrived at Hong Kong International Airport from Bangkok, Thailand, on September 16 last year. Upon inspection of the man's luggage by Customs officers, a batch of suspected controlled dried seahorses was found concealed among food items in an attempt to evade detection. AFCD officers attended the scene, examined the specimens and confirmed that they were controlled dried seahorses, weighing a total of 6.18 kilograms, with an estimated market value of about $150,000. The man was prosecuted by the AFCD for illegal import of specimens of endangered species. He was convicted at the District Court today, and the court adopted a starting point of 15 months' imprisonment for sentencing. With a one-third reduction given for his guilty plea, the defendant was sentenced to 10 months' imprisonment.

Seahorses are listed in Appendix II to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), and are regulated under the Ordinance in Hong Kong. Any person who imports, exports or possesses specimens of endangered species not in accordance with the Ordinance commits an offence and is liable on conviction to a maximum fine of $10 million and imprisonment for 10 yearswith the specimens forfeited.

The spokesman said, "The Government is committed to protecting endangered species. The AFCD and Hong Kong Customs will remain vigilant and continue to monitor and combat illegal activities involving endangered species."

Members of the public may call 1823 to report any suspected irregularities to the AFCD and visit the AFCD website at www.cites.hk for information on the control of endangered species in Hong Kong.

A 69-year-old Indonesian man, who smuggled dried seahorses into Hong Kong, was convicted at the District Court today (July 29) for violating the Protection of Endangered Species of Animals and Plants Ordinance (Cap. 586) and sentenced to 10 months' imprisonment. Photo shows the dried seahorses found in the man's luggage. Source: HKSAR Government Press Releases