Speech by CE at Global Free Trade Ports Development Forum of Boao Forum for Asia Annual Conference 2026 in Hainan (with photo/video)
Following is the speech by the Chief Executive, Mr John Lee, at the Global Free Trade Ports Development Forum of the Boao Forum for Asia Annual Conference 2026 in Hainan today (March 24):
Honourable Vice Chairman Mu Hong (Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference and Vice Chairman of the Boao Forum for Asia), honourable Secretary Feng Fei (Secretary of the CPC Hainan Provincial Committee), honourable Governor Liu Xiaoming (Governor of Hainan), distinguished guests, ladies and gentlemen,
Good afternoon. I would like to address this forum in English to reflect Hong Kong's status as an international city under "one country, two systems". And bilingualism is a part of everyday life in Hong Kong. It is my great pleasure to join you today, in Hainan, at the Global Free Trade Ports Development Forum of the Boao Forum for Asia.
This year marks the 25th anniversary of the Boao Forum for Asia. Over the past quarter of a century, the Forum has become a premier platform for dialogue on economic co-operation, bringing together leaders, policymakers and business pioneers from across the region. Together, we foster mutual understanding and advance regional co-operation. The Boao Forum has made significant contributions to Asia's remarkable rise on the global stage. I extend my warmest congratulations to the Boao Forum for Asia on this milestone occasion.
This year also marks a new chapter for China, our country. Two weeks ago, the fourth session of the 14th National People's Congress approved the Outline of the 15th Five-Year Plan for National Economic and Social Development of the People's Republic of China. The 15th Five-Year Plan sets out the indicators for the main objectives, major strategic tasks, and major projects for the country's development for the next five years.
The high-standard development of the Hainan Free Trade Port is a highlight of the Plan. The Port began its island-wide special customs operations four months ago. The Plan supports the continuous enhancement of liberalisation in trade, investment and the flow of production factors in the free trade port.
I congratulate Hainan on her remarkable progress in the development of the free trade port policy, which is now firmly in place. It allows for more open and free entry of overseas goods, expands zero-tariff coverage, and includes a host of business-friendly measures. Hainan is fast rising as a popular destination for global business and innovative industries. I have every confidence that this scenic island will soon become a powerful showcase for our country's dedication to free trade and high-quality opening up.
At a time of mounting geopolitical tensions and rampant protectionism, China's unwavering commitment to an open, and inclusive, economic order and multilateral trade gives this volatile world the reassurance it needs. And we are not alone in this. Much like the theme of this year's Boao Forum for Asia, "Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation", economies in the region are working together to ensure we remain a driver of global growth and an anchor of stability.
Ladies and gentlemen, Hong Kong is no stranger to free trade and co-operation. For more than a century, Hong Kong has been a free port and a champion of free and unfettered trade. Hong Kong is the world's No.1 in economic freedom, topping the ranking in "freedom to trade internationally". The International Institute for Management Development ranked Hong Kong among the world's top three most competitive economies. Our "business legislation" and "tax policy" ranked No. 1, globally.
Under the unique "one country, two systems" principle, Hong Kong enjoys the strong support of China, our country, while maintaining unparalleled connectivity with the world. We treasure our long tradition of the rule of law, and our common law legal system is shared by many global financial hubs. Capital, goods, talent and information flow freely in Hong Kong. Our tax system is simple and invitingly low.
A city of just over 1 100 square kilometres in land area, Hong Kong is the world's seventh-largest merchandise trading entity. We are also the world's third-largest foreign direct investment destination. Hong Kong is a founding member of the World Trade Organisation, and has signed free trade agreements with 21 economies and investment agreements with 33 economies.
These are not just numbers or trophies. They reflect the trust, and confidence, the global business community places in Hong Kong. It's a hard-earned accomplishment built on decades of integrity, the respect for the rule of law, and an unwavering commitment to free trade and multilateralism.
If the events of the first three months of 2026 are any lesson to learn, it is that no economy can thrive in isolation. Stability requires a regional framework that is open and inclusive for everyone. At this important platform for dialogue, I would like to share with you the three directions Hong Kong is pursuing to promote growth opportunities for all.
First, we will continue to expand our global trade network. At a time when some are drawing battle lines, Hong Kong is drawing trade routes. We choose connection over confrontation, and we value co-operation over conflict. Hong Kong actively seeks to co-operate with trading partners, including economies with strong trade relations with Hong Kong, as well as emerging markets with development potential or at strategic locations.
We have recently concluded investment agreement negotiations with Qatar, Bangladesh and Peru. And we are exploring the signing of new investment agreements with Saudi Arabia and Egypt.
Forging more free trade agreements is also a priority. We are committed to joining the Regional Comprehensive Economic Partnership, the world's largest free trade agreement. We maintain close communication with the Partnership's member economies, and will continue to rally their support for Hong Kong's early accession. We look forward to contributing to the Partnership, to working with member economies in promoting regional economic integration.
Second, we will leverage our network to connect investors with opportunities. Hong Kong has 16 offices and liaison units on the Mainland, and 15 overseas Economic and Trade Offices. Together with the offices of Invest Hong Kong and the Hong Kong Trade Development Council, we have a presence in 68 cities and cover 129 countries.
The HKSAR Government has set up a GoGlobal Task Force (Task Force on Supporting Mainland Enterprises in Going Global) by drawing these offices and other stakeholders together, to support the overseas expansion of Mainland enterprises. Last week, we launched a cross-sector professional services platform, under the GoGlobal initiative, to connect the expansion needs of Mainland Chinese enterprises, the demand of global buyers and investors, and Hong Kong's world-class professional services. We offer a rich pool of multilingual talent, and a premier platform for financing and asset management.
Meanwhile, our Economic and Trade Express, set up last year, is also strengthening the co-ordination among Hong Kong's global network of offices. It supports small and medium enterprises and start-ups, organising overseas business missions and providing companies with one-stop services like business matching, to help Hong Kong enterprises in exploring foreign markets.
Third, we will promote regional economic development and prosperity. China, our country, is the host economy of APEC, the Asia-Pacific Economic Cooperation, in 2026. Under the theme of "Building an Asia-Pacific Community to Prosper Together", this year's APEC meetings will be held in cities across the country. We are honoured that the APEC Finance Ministers' Meeting will be held in Hong Kong this October.
Hong Kong has been a member of APEC since 1991. We participate in different aspects of APEC's work, promoting regional macroeconomic co-operation and the real economy.
The APEC Finance Ministers' Meeting will bring together finance ministers from across the region to exchange views on the regional and global economic outlook, and promote sustainable development, financial stability and greater economic co-operation.
The HKSAR Government, let me add, will spare no effort in making comprehensive preparations to support our country's successful hosting of APEC 2026. That includes taking full advantage of Hong Kong's strengths as an international financial centre, and organising the meeting to deepen international exchanges and co-operation. In turn, we will help promote harmony and the region's sustainable development, playing our part in maintaining multilateral exchanges.
Ladies and gentlemen, with the world in a heightened period of turbulence, Hong Kong is committed to navigating uncertainties with openness, not in isolation. I am confident that the Free Trade Port of Hainan and Hong Kong will complement each other in building a powerful engine for free trade. Hong Kong endeavours to work with Hainan, as well as our friends from the Mainland and around the world that value free trade, to build a prosperous global community with a shared future for humanity.
Let's join hands in shaping this shared future of prosperity, and embrace its new dynamics, new opportunities and new co-operation. On that note, I wish the Boao Forum for Asia every success in the next 25 years and beyond, and all of you a fruitful and healthy year. Thank you.
Speech by CE at Global Free Trade Ports Development Forum of Boao Forum for Asia Annual Conference 2026 in Hainan Source: HKSAR Government Press Releases
Source: AI-found images
