Speech by DFS at US Independence Day reception
Following is the speech by the Deputy Financial Secretary, Mr Michael Wong, at the United States of America (US) Independence Day reception today (June 23):
Consul General Eadeh (Consul General of the US in Hong Kong and Macau, Ms Julie Eadeh), Deputy Commissioner Hua (Deputy Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region Mr Hau You), Assistant Secretary Burke (Assistant Secretary of the US Department of the Treasury Mr Jonathan Burke), former Chief Executive Mr Donald Tsang, distinguished guests, ladies and gentlemen,
It is my great pleasure to join you to celebrate the 250th anniversary of the Independence of the United States of America. This year also marks the 183rd anniversary of the United States' diplomatic presence in Hong Kong. So we indeed have a long history of partnership and friendship that is worth celebrating and nurturing.
I would also like to pay tribute to the longstanding and growing ties between the peoples of the United States and Hong Kong. Apart from our strong bilateral business and trade relations, there have always been deep-rooted cultural and people-to-people connections between us.
Hong Kong is home to around 80 000 US citizens. Last year, the number of American companies in Hong Kong increased from nearly 1 400 to 1 550, reflecting a year-on-year increase of over 11 per cent. Also last year, Invest Hong Kong, which is the business promotion arm of our Government, assisted over 40 US enterprises to establish or expand their operations in Hong Kong. It is noteworthy in the arena of trade that the United State has consistently enjoyed a significant trade surplus with Hong Kong - over US$250 billion in total in the last 10 years. So Consul General, I think that is good news to you. And I understand that this is actually one of the highest among the trading partners of the United States.
Another development in trade that is noteworthy is that Hong Kong's exports of goods to the United States have continued to enjoy very substantial growth despite geopolitics and headwinds. It grew by 80 per cent year on year this March. This April, it grew by another 37 per cent. When I mentioned these figures at a recent gathering hosted by a leading American financial institution in Hong Kong, some members in the audience were surprised. And I said to them that the very healthy growth in our bilateral trade is a testament to the ingenuity and dedication of businesses and enterprises both in Hong Kong and in the United States. Somehow, in an environment of considerable uncertainty, they are able to grasp new business opportunities and forge new partnerships. And what they do bring benefits not only to the business communities of the two places but to the peoples of the two economies. I salute them for their wonderful work and contributions.
On the global stage, Hong Kong's strengths as a vibrant and open economy and an international financial centre are increasingly recognised by all major players. The Global Wealth Report 2026, published this May, ranked Hong Kong as the world's largest cross-boundary wealth management centre. The World Competitiveness Yearbook this year ranked Hong Kong as the second economy in the world in terms of our competitiveness.
These very positive international assessments are echoed by the business community in Hong Kong. The latest Business Sentiment Survey conducted by AmCham (American Chamber of Commerce in Hong Kong) released this February reflected a substantive improvement in sentiment. Eighty-six per cent of respondents viewed Hong Kong as highly competitive or competitive as an international business hub, up from 75 per cent last year. So last year was good but this year was even better. Also, an overwhelming 92 per cent of the respondents planned to maintain their regional headquarters in Hong Kong for the next three years. And they cited efficiency, stability and the very safe business environment in Hong Kong as reasons to continue to base their regional operations in this lovely city.
The Consul General mentioned the visit to China by the President of the United States early in May. It was historic. It was a landmark. The two leaders expressed support for a constructive relationship of strategic stability. And they reached important understanding on keeping economic and trade ties stable, on expanding practical co-operation in different fields, and on properly addressing each other's concerns. We believe that the certainty and stability that follow their meeting are beneficial not just to Hong Kong, but to the entire world.
Ladies and gentlemen, the longstanding ties between the United States and Hong Kong are the result of years of hard work and goodwill by the peoples of the two economies. These ties have been built on a foundation of mutual respect and constructive dialogue. We look forward to their continued growth and positive developments in the years to come.
Thank you very much.
Deputy Financial Secretary, Mr Michael Wong, Photo source: reference image
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment
Invest Hong Kong (InvestHK) led its first New Energy and Sustainability Mission to the United Kingdom (UK) from June 16 to 24 (London time), co-organised with the UK's Department for Business and Trade, to champion Hong Kong as the premier launch pad for Hong Kong and Chinese Mainland green tech companies going global, while attracting UK clean tech firms and investors to the city.
Led by the Global Head of Financial Services, Fintech and Sustainability of InvestHK, Mr King Leung, and accompanied by the Senior Vice President (Sustainability) for Technology, Innovation and Entrepreneurship of InvestHK, Ms Olivia To, the delegation represented the full breadth of Hong Kong's new energy and green tech ecosystem, bringing together 25 companies - spanning listed, pre-IPO (initial public offering) and start-up businesses alongside active investors. Backed by two ecosystem partners, namely the Hong Kong Science and Technology Parks Corporation and the Hong Kong Trade Development Council, this assembly brought together deep expertise across areas such as battery and energy storage, renewable energy and hydrogen, smart electric vehicle infrastructure, new materials and AI. The Director-General of the Hong Kong Economic and Trade Office in London (London ETO), Miss Fiona Chau, also participated in part of the delegation's visit.
In Scotland, delegates explored the UK's energy transition at scale, with the itinerary deliberately tracing the journey from heavy industry decarbonisation to next-generation clean energy. Visits to major green industrial clusters and Forth Green Freeport sites in the Edinburgh and Aberdeen areas - the heart of the UK's pivot from North Sea oil and gas to clean energy and hydrogen - offered a live case study in cluster reinvention potentially relevant to Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), while engagements with the representatives from the University of Edinburgh and the City of Edinburgh Council opened strategic dialogues on offshore wind, hydrogen and carbon capture.
The delegation timed its London leg to coincide with London Climate Action Week, one of the largest gatherings of its kind globally and a magnet for the policymakers, investors and innovators shaping the net-zero agenda. At Reset Connect London - the UK's premier sustainability and green investment event - representatives from four companies scaling operations across bilateral markets took to the stage to profile Hong Kong's green tech credentials and their own solutions before an international audience of capital allocators. These companies and investors are now planning to scale up their investments and project rollouts in both Hong Kong and the UK. The delegation also attended the Octopus Energy Tech Summit and met with their China market representatives to explore collaboration.
InvestHK also cohosted networking receptions in Edinburgh and London on June 19 and 23 respectively, alongside the London ETO. Attended by delegates, local partners, and industry stakeholders, these initiatives aimed to turn the connections built during the tour into practical and productive opportunities.
Mr Leung said, "As both economies pivot toward net zero, the synergistic alignment between Hong Kong and the UK has never been clearer. Hong Kong and London are the world's pre-eminent green finance centre, and Hong Kong is Asia's ultimate 'super connector', uniquely bridging the Chinese Mainland green tech enterprises with global markets under the 'one country, two systems' framework. This mission is the practical infrastructure of that bridge, connecting patient capital, technology partners and corporate buyers to drive real commercial outcomes, and demonstrating how Hong Kong serves as the launch pad for companies scaling into the US$2 trillion GBA and the wider region."
The Head of Business and Talent Attraction/Investment Promotion of the InvestHK London Office, Ms Daisy Ip, added, "This mission highlights InvestHK's evolving role, from attracting capital, talent and standards into Hong Kong to actively supporting companies as they go global. Our delegates raised their profile alongside the InvestHK team at the UK's leading sustainability forums, while UK clean tech firms, investors and research institutions saw first-hand the strength of Hong Kong's green finance and innovation ecosystem. Through InvestHK's extensive global network, we are committed to facilitating these two-way opportunities."
The Director General for Trade and Investment, British Consulate General Hong Kong, Mr Chris Woodward, said, "Few partnerships are as complementary as the UK and Hong Kong on the net-zero transition. Britain's strengths in offshore wind, hydrogen and carbon capture are matched by Hong Kong's unrivalled ability to mobilise capital and open doors across the GBA and Asia. That is what makes this delegation so valuable. It puts UK clean tech firms, investors and researchers directly in front of the companies and capital that can scale British innovation regionally. We were delighted to cohost a mission that turns shared climate ambition into tangible commercial outcomes."
The Director of Europe at RelyEZ, Ms Michelle Cross, said, "As a global integrated energy service provider spanning project development, proprietary R&D (research and development), and equipment manufacturing, the company has deployed over 200 global projects worldwide, with a total storage capacity of 13 GWh to date. We see Hong Kong as the natural bridge between Chinese energy-storage capabilities and international markets. We are building the city into our global financing headquarters and the platform through which international capital can access high-quality energy transition assets worldwide - drawing on its capital markets, professional expertise and connectivity to the GBA. This mission demonstrates how that ecosystem can connect directly with UK and European partners, capital and policymakers to turn shared ambition into lasting partnerships."
InvestHK remains at the forefront of cementing Hong Kong's status as Asia's pre-eminent hub for green technology and sustainable finance. By driving targeted initiatives like the Energy and Sustainability Mission, the department acts as a critical catalyst, connecting UK clean tech innovators, investors, and research institutions into Hong Kong's dynamic ecosystem, while empowering Mainland and local enterprises to scale globally. Backed by a robust financial architecture, world-class universities for R&Ds and professional services, and seamless connectivity to the US$2 trillion GBA and broader Asian markets, Hong Kong continues to reinforce its position as a unique launch pad for cross-border sustainability collaboration and commercial growth.
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
InvestHK leads first dedicated new energy and sustainability delegation to UK to drive bilateral green investment Source: HKSAR Government Press Releases
