FS: Highlighting Hong Kong’s Role as East‑West Meeting Point at HKTDC Summer Expos

Speech by FS at Joint Opening Ceremony of HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Joint Opening Ceremony of the Hong Kong Trade Development Council (HKTDC) Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13):

Jonathan (Member of the HKTDC, Dr Jonathan Choi), Sophia (the Executive Director of the HKTDC, Ms Sophia Chong), (the Vice Chairman of the People's Government of the Xizang Autonomous Region, Mr Zhao Peng), (Vice Chairman of the Hunan Provincial Committee of the Chinese People's Political Consultative Conferenceand Chairman of Hunan Federation of Industry and Commerce, Mr Zhang Jian), Consuls-General, distinguished guests, ladies and gentlemen,

Good morning. It is a pleasure to join you all for the joint opening of the HKTDC's five flagship summer fairs.

With so much wonderful food, tea and wellness inspiration gathered under one roof, perhaps I should begin with a small word of warning: it is rather difficult to leave without a few extra shopping bags in hand.

At the heart of this year's showcase is a theme made for our time: "Live Well, Stay Well." As the world pays more attention to mindful, balanced and healthy living, these five fairs bring together a rich mix of food, beverage, lifestyle and wellness experiences.

Today, the five exhibitions bring together more than 1 850 exhibitors from over 30 countries and regions. I am especially pleased that, for the first time, all 11 ASEAN (Association of Southeast Asian Nations) member states are represented, with Brunei and Timor-Leste making their debut.

And the world's finest products will sit alongside our own. We are proud to present Hong Kong's fishery and agricultural produce under a new unified brand, "Hong Kong Harvest". Meanwhile, specialty goods from 16 provinces and regions across the Chinese Mainland will be on show at the Food Expo.

All these speak to the enduring appeal of quality products and good living - and to Hong Kong’s unique ability to bring together international brands and regional enterprises, as well as discerning consumers in one dynamic marketplace.

I appreciate the way B2B (business-to-business) and B2C (business to consumer) events sit side by side here. Whether you are an industry expert or simply a curious consumer, there is something to suit every palate and every lifestyle. These fairs connect the world of great food and wellness with the people of Hong Kong, the Greater Bay Area and beyond - bringing the finest products from every continent right to our doorstep.

Hong Kong has long been a meeting point between East and West. This is a place where ideas converge, opportunities emerge and partnerships take root. That spirit is very much on display this year, with more than 230 mega events on the calendar, many of them MICE events. Some 3.6 million visitors are expected to come from around the world, an increase of more than 20 per cent compared with the previous year. These events will bring some $12 billion in spending to the city. Add to that our international outlook, efficient supply chains, and professional strengths in certification, quality assurance and brand building - and we are no doubt the best platform for brands looking to connect with markets across the region.

To our exhibitors and buyers: your presence here speaks volumes about the power of connection. The relationships you build over the coming days will go well beyond transactions. They will open new opportunities, spark innovation, and help more people, in more places, to live well and stay well.

And to our friends from overseas, I hope you will also find time to enjoy Hong Kong. This is not just a city for deal-making - it is a city of wonderful cuisine, rich culture, beautiful scenery and warm, energetic people. You never know: your next big idea, or your next business partner, may come not from the exhibition hall, but from a walk through our buzzing streets, or a conversation over a good meal.

Ladies and gentlemen, as you taste and explore your way through these fairs, I hope you will take away not only great products and promising leads, but also a fresh appetite – for good living as much as for good business.

I wish the fairs every success. Thank you very much - and to those heading into the halls, a final word of advice: plan your route, and save some appetite for the far end of the hall.

Thank you very much.

The Financial Secretary, Mr Paul Chan, attended the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Photo shows (from front row, fourth left) the Executive Director of the Hong Kong Trade Development Council (HKTDC), Ms Sophia Chong; Mr Chan; Member of the HKTDC Dr Jonathan Choi, and other guests officiating at the ceremony. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Photo shows Mr Chan (fourth left) touring an exhibition booth. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Photo shows Mr Chan (second left) touring an exhibition booth. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Photo shows Mr Chan (first right) touring an exhibition booth. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Photo shows Mr Chan (third left) touring an exhibition booth. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Photo shows Mr Chan (centre) touring an exhibition booth. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Photo shows Mr Chan (second left) touring an exhibition booth. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, speaks at the Joint Opening Ceremony of the HKTDC Food Expo PRO, Hong Kong International Tea Fair, Food Expo, Home Delights Expo and Beauty & Wellness Expo today (August 13). Source: HKSAR Government Press Releases

Speech by SCED at 11th Belt and Road Summit Thematic Breakout Session

Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the 11th Belt and Road Summit Thematic Breakout Session: Chinese Mainland Enterprises Going Global: Driving Mutual Growth Across Belt and Road Economies today (September 10):

Distinguished guests, ladies and gentlemen,

Good morning. A very warm welcome to all of you. I hope all of you have made the most of our fruitful programmes on day one. This breakout session is one of the highlights of the Belt and Road Summit this year. For the first time, we have included a new chapter on "go global" in the Belt and Road Summit, which is an opportune time for our industry leaders, enterprise representatives, and professional service experts to share our strengths and insights, as well as forge collaboration with our Chinese Mainland and Belt and Road partners.

Today's session focuses on how Chinese Mainland enterprises can drive mutual growth with Belt and Road economies by leveraging the unique advantages of Hong Kong as a "super connector" and "super value-adder".

In light of the shifting geopolitics, rising trade protectionism and the reshaping of global supply chains, businesses going global is no longer simply an option; it is an increasingly important strategy for Chinese Mainland enterprises to diversify risks, strengthen resilience and pursue new growth opportunities. In fact, according to the latest research by the Hong Kong Trade Development Council (HKTDC), over 90 per cent of Chinese Mainland enterprises are actively pursuing overseas expansion, with a particular focus on Belt and Road markets such as ASEAN (Association of Southeast Asian Nations).

This expanding "go global" trend spans diverse industries, including innovation and technology, green energy, fintech, advanced manufacturing, construction, etc. It also takes many forms, from traditional import-export trade and the optimisation of regional supply chains, to the establishment of production facilities and business operations overseas.

By doing so, "go global" enterprises can bring advanced technologies, investment capital, and quality job opportunities to overseas markets, driving regional economic co-operation and achieving a triple-win outcome for the Chinese Mainland, Hong Kong, and overseas economies. This is a valuable opportunity for the global business community to work together, create shared value and pursue sustainable growth amid ongoing economic uncertainty.

Hong Kong stands as the freest economy, a leading international financial centre, one of Asia's most international cities, and one of the world's most competitive cities. Under the "one country, two systems" principle, we enjoy unparalleled advantages as a "super connector" and a "super value-adder". These include the common law system, the free flow of capital and information, a simple and low tax regime, world-class professional services, and an extensive international business network.

Besides, the rapid development of the Northern Metropolis, which covers about one-third of the total land of Hong Kong, has released new potential and land resources to serve as Hong Kong's new engine for economic growth. It offers significant opportunities for Chinese Mainland enterprises from various sectors, such as innovation and technology, education, transport and logistics, advanced manufacturing and commodity trading, to set up operations in Hong Kong, grow their businesses and obtain professional services to prepare for their global expansion.

All in all, Hong Kong serves as the ideal platform to support Chinese Mainland enterprises throughout their "go global" journey, from setting up business functions such as regional headquarters and corporate treasury centres in Hong Kong, to raising funds, navigating overseas regulations, and forging robust international partnerships.

To turn this vision into action, I set up the GoGlobal Task Force (Task Force on Supporting Mainland Enterprises in Going Global) last October to provide the Chinese Mainland enterprises with one-stop tailored services. This initiative aligns with the country's 15th Five-Year Plan, which outlines Hong Kong's role in assisting Chinese Mainland enterprises to venture abroad by leveraging our world-class professional services.

The GoGlobal Task Force is proactively supporting Chinese Mainland enterprises through a three-step approach: first, we attract enterprises with strong growth potential to Hong Kong; second, leveraging our strengths in professional services, we help them set up international corporate structures and meet regulatory requirements for seamless international expansion; and finally, we support them in establishing a presence overseas.

Since the establishment of the GoGlobal Task Force, I am proud to say that we have made substantial achievements. We have assisted over 300 Chinese Mainland enterprises in setting up or expanding businesses in Hong Kong; organised more than 20 promotional events and engaged over 5 000 representatives of Chinese Mainland enterprises; and established the GoGlobal Cross-sectoral Professional Services Platform to provide support in eight dedicated areas, including legal, accounting, financial services, marketing and branding, as well as testing and certification.

Thanks to the concerted efforts of GoGlobal Task Force members, relevant professional bodies and industry associations, over 200 service providers have already been listed on this Platform, administrated by the HKTDC. The GoGlobal Task Force will continue to enhance the functions of the Platform and enrich the list of professional service providers to meet the growing business needs of Chinese Mainland enterprises.

Besides, the Chief Executive and I have led two high-level missions to Central Asia and Malaysia earlier this year to help enterprises better understand overseas markets and explore co-operation opportunities. We have successfully catalysed connections and concrete collaboration between Chinese Mainland enterprises and the local business community.

To explore how such collaboration creates a triple-win situation for the Chinese Mainland, overseas markets and Hong Kong, the upcoming panel discussion of this breakout session brings together leading business representatives and experts. I am confident that the discussion will spark new ideas, forge robust partnerships, and uncover exciting opportunities across the Belt and Road region.

Apart from this breakout session, there are many other "go global" elements in this year's Summit. These include a physical GoGlobal Connect Zone in the exhibition area, which illustrates value-added services that can be offered to "go global" enterprises by various professional sectors in Hong Kong, as well as thematic roundtable discussions and business matching meetings for Chinese Mainland enterprises seeking to go global and professional service providers. In addition, the HKTDC will lead a business mission to Nansha, Guangzhou, offering participants first-hand insights into the development and investment opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area.

Going forward, the Hong Kong Special Administrative Region Government will continue to step up its "go global" efforts and strengthen the two-way flow of investment between Belt and Road economies and Hong Kong.

Ladies and gentlemen, I encourage you all to seize today's opportunity to learn more about the "go global" initiative. To benefit from this initiative and other business-friendly policies such as tax incentives and the Northern Metropolis development, I strongly recommend that enterprises from the Chinese Mainland and overseas professional services providers favourably consider establishing a presence in Hong Kong.

I wish you all a highly engaging and successful discussion. Before you leave Hong Kong, please make sure that you have spared time to explore our city's delicious cuisine, diverse East-meets-West culture, and magnificent countryside landscapes, and make your visit truly memorable. Thank you.

Source: AI-found images