CE meets Governor of People's Bank of China
The Chief Executive, Mr John Lee, met with the Governor of the People's Bank of China, Mr Pan Gongsheng, today (July 6) to exchange views on economic and financial issues. The Financial Secretary, Mr Paul Chan, and the Secretary for Financial Services and the Treasury, Mr Christopher Hui, also attended the meeting.
The Chief Executive, Mr John Lee, Photo source: reference image
Mr Lee welcomed Mr Pan and his delegation to Hong Kong. Mr Lee said that the National 15th Five-Year Plan supports Hong Kong in consolidating and enhancing its status as an international financial centre, strengthening its functions as a global offshore Renminbi (RMB) business hub, an international asset and wealth management centre, and an international risk management centre, as well as building a commodity trading ecosystem. The Hong Kong Special Administrative Region (HKSAR) Government is pressing ahead at full speed with the preparation of Hong Kong's First Five-Year Plan to proactively seize the major opportunities brought by the National 15th Five-Year Plan, and promote its high-quality development as an international financial centre. The HKSAR Government will continue to leverage Hong Kong's unique advantages of having strong support of the motherland and being closely connected to the world under the "one country, two systems" principle, continue to promote a mutual market access regime between Hong Kong and Mainland financial markets, facilitate the two-way flow of capital between the two places, and further enhance the competitiveness of Hong Kong as an international financial centre.
Mr Lee said that Hong Kong is one of the top three international financial centres in the world, and is also the world's largest offshore RMB business hub and the world's largest cross-boundary wealth management centre. With the country's support, Hong Kong has steadily expanded its offshore RMB business and continuously enriched the RMB product ecosystem. Hong Kong will continue to deepen collaboration with the Mainland and spare no effort in facilitating more efficient circulation of RMB funds in the offshore market and serving the country's prudent and solid advancement of RMB internationalisation.
Mr Lee said that the HKSAR Government is now striving to build an international gold trading market in Hong Kong, including the establishment of the Hong Kong gold central clearing system, to attract the storage, clearing and delivery of physical gold in Hong Kong, drive the development of related services such as trading, risk management, insurance, warehousing and logistics, and gradually build a comprehensive gold trading ecosystem. The HKSAR Government will continue to work with relevant Mainland authorities and the industry to take forward relevant work, improve the infrastructure of and support for Hong Kong's gold market, inject new impetus into the diversified development of the financial market, and thereby contribute to the development of the country as a financial powerhouse.
The Governor of the People's Bank of China, Mr Pan Gongsheng, Photo source: Xinhua News
Speech by PSITI at Second Global Innovation Show and Global Innovation Summit - Hong Kong
Following is the speech by the Permanent Secretary for Innovation, Technology and Industry, Mr Kevin Choi, at the Second Global Innovation Show and Global Innovation Summit - Hong Kong today (August 25):
Distinguished guests, ladies and gentlemen,
Good morning. It is my great pleasure to join you today at the 2nd Global Innovation Show and Global Innovation Summit (GIS) - Hong Kong. I would like to thank the organisers for bringing together innovation leaders, industry experts and entrepreneurs from the Chinese Mainland, Hong Kong and around the world to exchange insights and explore new opportunities for collaboration.
Based in Hong Kong, drawing upon the strengths of our country and engaging with the world, GIS brings together innovation resources from different places and strengthens connections among the cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). By bringing together the respective strengths of different places in technology, capital and markets, GIS provides a valuable platform for technological innovation and industry collaboration. This aligns well with Hong Kong's role as a bridge connecting the Chinese Mainland and the world, and our development into an international innovation and technology (I&T) centre.
This year marks the beginning of the National 15th Five-Year Plan period. The Plan reaffirms support for Hong Kong's development into an international I&T centre, while placing strong emphasis on technological innovation, industrial innovation and the development of new quality productive forces. Against this backdrop, the Hong Kong Special Administrative Region (HKSAR) Government is pressing ahead with new industrialisation, fostering strategic emerging and future industries while supporting the transformation and upgrading of traditional industries. Our strategic focus includes life and health technologies, artificial intelligence (AI) and robotics, as well as advanced manufacturing and new energy. By promoting the integration of technological and industrial innovation, we seek to accelerate the commercialisation of research and development (R&D) outcomes and develop new engines for Hong Kong's high-quality economic growth.
Our efforts are bearing fruit. Manufacturing and new industrialisation-related industries accounted for 3.8 per cent of Hong Kong's Gross Domestic Product in 2024. This reflects that the Government's new industrialisation initiatives are playing an increasingly important and positive role in promoting economic diversification and enhancing Hong Kong's overall competitiveness. We are also formulating Hong Kong's medium to long-term development plan of new industrialisation, taking into account the National 15th Five-Year Plan, opportunities for industrial synergy in the GBA, as well as Hong Kong's own industrial foundation and advantages.
To provide fertile soil for our I&T development, we are building a comprehensive I&T ecosystem anchored by three major I&T Parks and five key R&D institutions. In particular, the Loop Hong Kong Park is an important platform for I&T collaboration in the GBA and is envisioned to develop into a world-class innovation platform connecting international companies with the Chinese Mainland. As at July 2026, the Loop Hong Kong Park has already attracted over 100 technology enterprises and institutions to sign tenancy agreements, with its first two completed wet laboratory buildings leasing all available floor area. The adjacent San Tin Technopole will serve as a natural extension of the Loop Hong Kong Park, providing a large piece of land that can help accelerate the commercialisation of R&D results by providing industrial space for prototyping, pilot and mass production.
We are also providing targeted support to accelerate technology commercialisation and industrial development. The $10 billion New Industrialisation Acceleration Scheme provides matching funds for enterprises in designated industries to set up new smart production facilities in Hong Kong, while the $10 billion Innovation and Technology Industry-Oriented Fund channels market capital to invest in emerging and future industries of strategic importance. Earlier this year, we also launched the New Industrialisation Elite Enterprises Nurturing Scheme, focusing on supporting high-growth enterprises that contribute to the development of new industrialisation in Hong Kong, with the goal of nurturing emerging and future industry enterprises.
At the same time, we are deepening I&T and industrial collaboration within the GBA. Under "one country, two systems", Hong Kong is proactively integrating into and serving the overall national development, while giving full play to our unique strengths as an international city. By leveraging Hong Kong's strengths in R&D and international connectivity, we can foster deeper integration of technological and industrial innovation and create greater opportunities for enterprises across the region. The Shenzhen-Hong Kong-Guangzhou innovation cluster ranked first globally in the Global Innovation Index 2025, demonstrating the strong innovation capabilities of the GBA.
We are continuing to deepen this collaboration. In September 2024, the HKSAR Government and the Ministry of Industry and Information Technology (MIIT) signed the Co-operation Agreement on the Development of New Quality Productive Forces and the Promotion of New Industrialisation, supporting Hong Kong in developing new quality productive forces and promoting new industrialisation according to local conditions, while strengthening exchanges and promoting co-operation in industries where both sides have clear advantages.
Building on this foundation, our co-operation took another important step forward last month, when the HKSAR Government and MIIT signed the Co-operation Agreement on Advancing the Joint Establishment of Manufacturing Innovation Centre by the Ministry and Hong Kong. As announced in this year's Budget, it has been proposed to reserve funding to establish in Hong Kong the first national manufacturing innovation centre. Focusing on next-generation power semiconductor technologies, the Hong Kong Microelectronics Research and Development Institute will undertake the important task of taking the lead to operate the innovation centre.
For enterprises, these developments open up new opportunities to leverage the complementary strengths of Hong Kong and the GBA. Hong Kong can serve as a "super connector" and "super value-adder", helping Chinese Mainland enterprises connect with international innovation resources while providing overseas enterprises with a gateway to the GBA and the broader Chinese Mainland market. In this way, we can better leverage Hong Kong's strengths to serve our country's needs, while creating new room for development for enterprises in Hong Kong and beyond.
Looking ahead, the HKSAR Government will continue to strengthen our I&T ecosystem, advance new industrialisation and deepen synergy with our partners in the GBA. We welcome I&T enterprises and innovation partners from the Chinese Mainland and around the world to leverage Hong Kong's unique advantages, tap into the opportunities of the GBA and grow with our expanding I&T ecosystem.
By working together and leveraging our complementary strengths, we can contribute to developing the GBA into an international I&T hub with global influence and create new momentum for high-quality development. I wish GIS every success and all of you a rewarding and fruitful exchange. Thank you very much.
Source: AI-found images
Speech by PSITI at Second Global Innovation Show and Global Innovation Summit - Hong Kong Source: HKSAR Government Press Releases
Source: AI-found images
