CE: Highlighting Educational Partnerships between Hong Kong and Kazakhstan at Nazarbayev University to Strengthen Belt and Road Initiative Cooperation

2026-06-03 14:37 Last Updated At：16:23

Speech by CE at Nazarbayev University in Astana, Kazakhstan

Following is a speech by the Chief Executive, Mr John Lee, at Nazarbayev University in Astana, Kazakhstan, today (June 3):

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The Chief Executive, Mr John Lee, today (June 3), visited Nazarbayev University in Astana, Kazakhstan. Photo shows Mr Lee addressing the signing ceremony for Memoranda of Understanding between Nazarbayev University and Hong Kong higher education institutions. Source: HKSAR Government Press Releases

Speech by CE at Nazarbayev University in Astana, Kazakhstan Source: HKSAR Government Press Releases

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The Chief Executive, Mr John Lee, today (June 3), visited Nazarbayev University in Astana, Kazakhstan. Photo shows Mr Lee addressing the signing ceremony for Memoranda of Understanding between Nazarbayev University and Hong Kong higher education institutions. Source: HKSAR Government Press Releases

Speech by CE at Nazarbayev University in Astana, Kazakhstan Source: HKSAR Government Press Releases

President Professor Waqar Ahmad (President of Nazarbayev University), faculty members, students, distinguished guests, ladies and gentlemen,

Good morning. It is an honour to be here, with you today, at Nazarbayev University, a leading centre of education and innovation in the heart of Eurasia.

I was delighted to learn that your university, Central Asia's No.1, has been ranked among the top quartile of international research universities. And you achieved this just 16 years after your founding. This is an outstanding record.

Nazarbayev University has made news, and history, in many ways. One of them is the visit in 2013 by President Xi Jinping of my country, the People's Republic of China. Here, at this very university, President Xi delivered a landmark speech, publicly proposing, for the first time, the joint building of the Silk Road Economic Belt.

That historic moment marked the genesis of today's Belt and Road Initiative. It is a strategic blueprint for connectivity, shared development and common prosperity. And it has reshaped global co-operation.

Since its inception, the Belt and Road has developed a comprehensive framework for global partnership. It's anchored in policy co-ordination, infrastructure connectivity, free and unfettered trade, financial integration and, critically, people-to-people bonds.

More than a decade on, the foundations laid here are delivering rewarding results: new trade corridors, stronger financial flows, and a clearer recognition that shared prosperity is the most sustainable path forward.

Lasting prosperity requires shared knowledge, talent, and trust across borders - and that begins with education. Right here at Nazarbayev University, that vision is taking shape. One pioneering partnership is with the Hong Kong University of Science and Technology.

Last year, at the 10th Belt and Road Summit in Hong Kong, the two institutions signed a Memorandum of Understanding (MOU). The agreement includes the launch of a joint Bachelor of Business Administration programme in Eurasian business. The programme features a joint curriculum, with students spending two years at each institution.

This landmark initiative is the first of its kind in Asia. It demonstrates a shared commitment to advancing higher education co-operation under the Belt and Road Initiative. I am confident that the new degree programme will offer farreaching benefits for our students and our economies.

Today, we will take another encouraging step forward. After my speech, Nazarbayev University will reach MOUs with Hong Kong's Education University and Polytechnic University.

These agreements will deepen academic and research collaboration. They will strengthen peopletopeople ties between Hong Kong and Kazakhstan.

This growing network of institutional partnerships is precisely how we build enduring foundations for long-term co-operation and mutual rewards.

Now, why is Hong Kong the right partner? For many reasons. And I'll tell you a few of them now. Hong Kong, like Kazakhstan, is an active contributor and beneficiary of the Belt and Road Initiative. Under "one country, two systems", Hong Kong serves as a "super connector" and "super value-adder". We add value to everything we do - and to every economy, company and institution we partner with.

An international financial, trade and legal services hub, Hong Kong's prosperity is underpinned by the common law system, the free flow of capital, and a deep pool of talent. In fact, Hong Kong is the only city in the world with five of the top 100 universities. This talent environment is reinforced by our global standing: last year, Hong Kong ranked first in Asia, and fourth globally, in the World Talent Ranking.

We have long been committed to international co-operation, enabling our companies and professionals to seize opportunities worldwide. And that very much includes the Belt and Road Initiative, and the educational collaborations it enables.

These collaborations do more than grant degrees. Through academic exchanges and joint research, students gain an international mindset, adaptability, and communication and problem-solving skills. These skills help them manage uncertainty, and identify pathways to shared growth.

This year, more than 6,000 students from Belt and Road countries are studying in programmes funded by Hong Kong's University Grants Committee. I am pleased to note that some 500 of them are from Kazakhstan. That makes Kazakhstani students one of the largest groups of students among our Belt and Road student community.

The HKSAR (Hong Kong Special Administrative Region) Government's Belt and Road Scholarship scheme sets aside 150 scholarships annually for post-secondary students from Belt and Road countries. Together with the "Study in Hong Kong" initiative, internships, and youth exchange programmes, these efforts are building a shared Belt and Road talent pool.

These initiatives, let me add, go well beyond education. They foster the lasting friendships and mutual understanding that transcend borders. Every student who studies abroad becomes an ambassador for their home country and a bridge to their host community.

The Kazakh community in Hong Kong is growing. And I invite you to look to Hong Kong for your future, too, students here. We welcome talented youth and entrepreneurs with open arms. The opportunities are wide open, too.

Hong Kong is one of the world's leading financial centres, a rising innovation and technology hub, an arts and culture, sports and entertainment metropolis. And a whole lot more.

And, like you, we Chinese enjoy eating. Last night, I took the delegation for a classic Kazakh dinner - beshbarmak and baursak. We all enjoyed the boiled meat and the deep-fried dough balls. Let me add that Hong Kong has its first Central Asian restaurant opened just a few months ago. I always believe that food is a place's best ambassador. I look forward to Kazakh restaurants filling up the streets of Hong Kong, so that the over 500 Kazakh students can help introduce their culture in Hong Kong.

Ladies and gentlemen, the partnerships we celebrate today are just the beginning. Each agreement, each student exchange, each shared research project brings our universities and our youth closer together. That is how we turn a vision of shared prosperity into daily reality.

I wish Nazarbayev University every success ahead. I wish the students here bold dreams and bright futures. And I wish Hong Kong and Kazakhstan a partnership that grows stronger with every passing year. Thank you.

HKTA Celebrates 35 Years of Advancing Hong Kong as a Leading International Financial Centre

Speech by FS at at HKTA 35th Anniversary Conference

Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKTA 35th Anniversary Conference today (June 3):

Ka-shi (Chairman of the Hong Kong Trustees' Association, Ms Lau Ka-shi), members of the Hong Kong Trustees' Association (HKTA), distinguished guests, ladies and gentlemen,

Good afternoon. It is a pleasure to join you today to celebrate the 35th anniversary of the Hong Kong Trustees' Association.

Let me begin by offering my warmest congratulations to the HKTA - to your leadership, your members, and everyone who has contributed to building this institution and its strong reputation over the years.

Hong Kong's growth as an IFC

Looking back over the past 35 years, Hong Kong, as an international financial centre, has undergone a remarkable transformation. In particular, over the past decade or so, alongside our country's high-quality development, Hong Kong's financial centre status has been elevated to a new level.

Take our stock market as an example. Over the past 10 years, market capitalisation has more than doubled, from around $23 trillion to over $47 trillion. Bank deposits have increased by about 80 per cent, or $9 trillion, to reach over $19 trillion.

Asset and wealth management, an area closely connected with everyone here today, has grown from $18.2 trillion to more than $35 trillion. MPF (Mandatory Provident Fund) assets have also almost doubled, from around $800 billion to about $1.5 trillion.

Last week, Hong Kong was named the world's largest cross-boundary wealth management centre. It was also projected that Hong Kong's growth in this area would continue to lead the world over the next five years.

Hong Kong has indeed been moving up rapidly in the IFC league table. In the Global Financial Centres Index, our score is now only two points behind New York and one point behind London. A decade ago, the gap was around 40 points.

Our growth is not merely a story of scale. It is a story of constant reinvention. Through the reforms to our listing regime, deepening of the Connect schemes, and stronger connectivity with Southeast Asia and the Middle East, Hong Kong has been expanding its role as a bridge between the Mainland and the world. In the face of trials and tribulations, Hong Kong has remained resilient, and emerged stronger.

The trust industry is an integral part of this success. You provide the fiduciary backbone that underpins the sustained and smooth operation of MPF schemes, private trusts, family offices, philanthropic structures and other arrangements. You safeguard assets, protect beneficiaries, uphold governance, and reinforce confidence in Hong Kong as a trusted place to manage, preserve and pass on wealth. You are an indispensable institutional infrastructure safeguarding our financial security.

Going forward, I believe three major trends will bring more capital flows, more cross-boundary activities, and stronger demand for the services of our trust industry.

First, the growing demand for diversification and reallocation in an increasingly fragmented geo-economic environment. Global capital is looking for safe harbours. Investors are looking for markets that are stable, reliable and predictable, while offering opportunities and investment returns.

Second, the global wave of innovation and technology. China's technological innovation will be one of the most compelling long-term themes in the investment world. Capital that believes in the growth potential of China and Asia, and in this region's capacity for innovation, will increasingly look to this part of the world for opportunities.

And third, our country's high-level two-way opening up under the National 15th Five-Year Plan. Hong Kong will serve as a hub for more Mainland companies going global, while attracting more capital and enterprises from around the world to access Mainland opportunities through our platform.

The "Finance+" strategy

These trends are also the very basis upon which we proposed the "Finance+" strategy in the Budget this year.

The goal is clear. We want to capitalise on these major trends to grow a bigger pie, empower different industries, and create more opportunities for the financial services sector.

This means advancing further in areas where we have enduring competitive strengths.

Hong Kong has a mature and sophisticated fundraising market. Our IPO (initial public offering) performance has been strong. We have a vibrant venture capital and private equity sector. Yet, we are working to build an even more comprehensive financing chain, a richer product offering and a more vibrant financial ecosystem, so that we can unleash fully our development potential.

On products, we support the introduction of more diverse and innovative investment products and risk management tools to satisfy different investors' needs and appetites.

Bonds are a good example. We are working to attract more national governments, international institutions and companies to issue bonds of various tenors and currencies here. We are also developing a one-stop, multi-asset class post-trade securities infrastructure. That will cover both Mainland and Hong Kong equity and debt securities, facilitating cross-product collateralisation to enhance market liquidity.

Exchange-traded products (ETPs) are another example. In 2024, there were fewer than 200 listed ETPs in Hong Kong, with an AUM (asset under management) of about $460 billion. Today, the number has grown to more than 240, with AUM reaching around $650 billion, a 40 per cent increase in just two years' time.

So are gold and commodities. We are strengthening this market by expanding warehousing capacity, enhancing settlement arrangements, and supporting product innovation through digitalisation, tokenisation and development of derivatives.

Together, these initiatives are opening up new horizons for Hong Kong's financial markets, broadening the range of opportunities for investors and creating new room for growth across the financial services sector.

For the trust industry, our efforts to facilitate re-domiciliation are highly relevant. Since last year, 37 companies have moved their place of incorporation to Hong Kong, while preserving their legal identity and business continuity. They include some of the world's leading insurance companies.

Later this year, we will introduce a bill to enhance our tax regime for funds and family offices.

These send a clear message. Hong Kong is an open and welcoming home for family offices, trusts, funds, talent and enterprises.

A word to the trust industry

Ladies and gentlemen, I believe the trust industry is well placed to benefit from the "Finance+" strategy. But to capture these opportunities, three priorities are important.

First, uphold the highest standards of integrity and professionalism. Trustees have a special role because you often stand at the centre of long-term relationships involving families, beneficiaries, investors and institutions. That trust carries tremendous responsibilities.

Second, strive for excellence and embrace technology and innovation. Technology is transforming investment products, compliance, administration, reporting and risk management - in short, every aspect of your operations. Embracing technology is no longer optional.

At a more fundamental level, artificial intelligence (AI) and digitalisation are reshaping the very foundations of the trust business - from what constitutes an asset, to how ownership and control are established and exercised, how fiduciary duties are discharged, and how business is conducted. For trustees, this poses new challenges in custody, valuation, cross-boundary regulatory compliance, daily administration and cyber security.

But it also creates new opportunities. For example, as assets become more digital, the market will need greater legal certainty, stronger governance and trusted fiduciary oversight. These are areas where Hong Kong has clear strengths, and where our trust industry can play an important role in safeguarding assets for families, pension members and investors.

Our task, together, is to harness cutting-edge technology while staying true to the timeless principles of prudence and loyalty, so that the trust business remains an anchor of confidence in an increasingly digital market.

Third, invest in talent. More complex rules, more cross-boundary work, new technologies and new product types will increase demand for experienced trustees, risk managers, compliance professionals, lawyers, accountants, and wealth planners.

We need people who can discharge fiduciary duties in the age of technological and digital transformation. We need people who understand family succession, public accountability and cross-boundary regulation in the age of AI. And we need people who understand both the Chinese Mainland and the world - people who can bridge the two and contribute to both.

I am pleased to note that the HKTA has long been committed to professional training, which is essential to building a deeper and more resilient talent pool for Hong Kong.

On our part, the Government is committed to building a stronger asset and wealth management ecosystem and the trust industry. We will continue to work with the industry to further enhance the competitiveness of Hong Kong as a centre of excellence for the trust industry.

Closing

Ladies and gentlemen, for 35 years, the HKTA has demonstrated leadership, professionalism and commitment to excellence.

The next 35 years will be even more exciting. The global geo-economic balance is shifting. Technological innovation is accelerating. Wealth in Asia is fast building up and clients are becoming more sophisticated and demanding. Families, enterprises and investors will need better structures, better governance and better advice.

But the foundation of success will remain true and the same: professionalism, integrity and trust.

I am confident that the HKTA will continue to bring the industry together, lead with vision, and contribute to the next stage of Hong Kong's success as an international financial centre.

The Government will be your partner every step of the way.

Once again, my heartfelt congratulations to the HKTA on your 35th anniversary. Here is to the next 35 years.

Thank you very much.

CE: Highlighting Educational Partnerships between Hong Kong and Kazakhstan at Nazarbayev University to Strengthen Belt and Road Initiative Cooperation

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