Financial Secretary Highlights Hong Kong's Role in Xi'an's Aerospace Industry Development on Last Day of Xi'an Visit

FS concludes visit to Xi'an

The Financial Secretary, Mr Paul Chan, today (June 27) concluded the final day of his visit to Xi'an.

Mr Chan attended the First Western Commercial Space Conference this morning. In his speech, he said that Xi'an, with its strong scientific research capabilities, complete industrial chain, and deep accumulation in technology and talent pipelines, possesses unique advantages in depth in the aerospace industry. The related industries have progressed from being strong in supporting capabilities to becoming strong overall. He pointed out that the local industry has established an efficient and collaborative industrial system in areas such as rocket engines, satellite payloads, laser communications, precision measurement and control equipment, and new materials, significantly improving industry efficiency, lowering costs and accelerating technological iteration.

He noted that for commercial space to form a complete closed loop, it still needs to address the key issues of being able to secure financing, sell far, and proceed steadily, including connecting with international capital markets, expanding global customer networks, and aligning with cross-boundary rules and standards.

Mr Chan pointed out that Hong Kong can serve as an interface connecting the western region's aerospace industry with international markets from three dimensions: capital, research and market. In terms of capital, Hong Kong has a deep and broad pool of international capital and a global investor network, a mature offshore renminbi market, and an end-to-end fundraising and financing ecosystem, including patient capital that invests in small, early-stage, long-term and hard technology projects. These can help technology enterprises raise funds and complete valuation, pricing and cross-boundary mergers and acquisitions under rules familiar to international markets. In terms of research, Hong Kong's universities can collaborate with Xi'an's institutions on research into key technologies, promote the transformation of research outcomes, connect with international networks and attract high-end talent. In terms of market, Hong Kong can, with its common law system and internationally aligned intellectual property protection regime, assist enterprises in going global, expanding into international markets, converting standards and validating products.

He emphasised that Hong Kong has already incorporated commercial space into its industrial planning, including establishing the Space Robotics and Energy Centre, supporting the Chang'e-8 mission, and promoting local satellite projects and related investment. As commercial space enters the scaled development stage "fromone to N", co-ordination among the industrial chain, capital and markets is particularly crucial. Hong Kong will leverage its openness, internationalisation and financial advantages under the "one country, two systems" framework to empower the accelerated development of the western region's aerospace industry and support the development of the country's aerospace cause.

Mr Chan met with the Chairman of the Shaanxi Provincial Committee of the Chinese People's Political Consultative Conference, Mr Xu Xinrong, at noon. He concluded his visit programme in Xi'an in the afternoon and departed for Hong Kong.

The Financial Secretary, Mr Paul Chan, conducted the final day of his visit programme in Xi'an today (June 27). Photo shows Mr Chan (fifth right) calling on the Chairman of the Shaanxi Provincial Committee of the Chinese People's Political Consultative Conference, Mr Xu Xinrong (fifth left). The Director-General of the Office for Attracting Strategic Enterprises, Mr Peter Yan (fourth left), and representatives of the Hong Kong Investment Corporation Limited and Hong Kong Exchanges and Clearing Limited also attended the meeting. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the First Western Commercial Space Conference in Xi’an today (June 27). Photo shows Mr Chan (first left) visiting exhibition booths at the conference. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the First Western Commercial Space Conference in Xi’an today (June 27). Photo shows Mr Chan (fifth right) officiating at the opening ceremony with other guests at the conference. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the First Western Commercial Space Conference in Xi’an today (June 27). Photo shows Mr Chan delivering a speech at the conference. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the First Western Commercial Space Conference in Xi’an today (June 27). Photo shows Mr Chan delivering a speech at the conference. Source: HKSAR Government Press Releases

CAD and aviation management personnel complete National Studies and Visit Program

The seven-day National Studies and Visit Program for the management personnel of the Civil Aviation Department (CAD) and Hong Kong's aviation industry concluded today (June 28). On the occasion of the 80th Anniversary of the department, CAD invited the management personnel from various local civil aviation organisations to take part in the national studies course at the National Academy of Governance (NAG) together and conduct site visit to a number of aviation facilities there. The program aimed at enhancing participants understanding of the country's development and visionary strategy, so as to continue to work together to promote the aviation development.

Speaking at the opening ceremony, the Director-General of Civil Aviation, Mr Victor Liu, said that with full support by the Civil Aviation Administration of China (CAAC), the course is tailor-made to meet the professional needs of CAD and local aviation industry. Mr Liu expressed his sincere gratitude to the Administrator of the CAAC, Mr Song Zhiyong, for attending the first day of the course as keynote speaker, in which he shared the high-quality development of the civil aviation in China, and provided participants with high-level professional guidance and forward-looking insights. He also acknowledged the support of the Vice President of the National Academy of Governance, Mr Li Wentang, in meeting with the course participants, and providing guidance to the teaching team.

The course covers various topics including national policy, national security, foreign affairs, technologies and civil aviation. The participants also had opportunity to visit Beijing Daxing International Airport, as well as the trio of the CAAC (namely the Operation Management Centre, Aviation Meteorological Centre and Aeronautical Information Service Centre), with a view to deepening connection with the Mainland authorities, as well as the experts and scholars there.

A total of 30 management personnel from CAD and aviation sector participated in the program. The Deputy Director-General of Civil Aviation, Ms Clara Wong, represented CAD to attend the graduation ceremony. After that, she joined the participants to proceed to Tianjin, and paid visit to the "Uprising of the Two Airlines" Exhibition Hall and Civil Aviation University of China, to gain a deeper understanding of our country’s civil aviation development.

CAD and aviation management personnel complete National Studies and Visit Program Source: HKSAR Government Press Releases

CAD and aviation management personnel complete National Studies and Visit Program Source: HKSAR Government Press Releases

CAD and aviation management personnel complete National Studies and Visit Program Source: HKSAR Government Press Releases

CAD and aviation management personnel complete National Studies and Visit Program Source: HKSAR Government Press Releases

CAD and aviation management personnel complete National Studies and Visit Program Source: HKSAR Government Press Releases