Financial Secretary Champions Greater Bay Area's Role in Asia-Pacific Connectivity at GBA Conference 2026

Speech by FS at Greater Bay Area Conference 2026

Following is the video speech by the Financial Secretary, Mr Paul Chan, at Greater Bay Area Conference 2026 today (September 3):

The Financial Secretary, Mr Paul Chan, Photo source: reference image

Honourable Vice-Chairman C Y Leung (Vice-Chairman of the National Committee of the Chinese People's Political Consultative Conference and Chief Convenor of the Hong Kong Coalition), Mr Qu Yingpu (Publisher and Editor-in-Chief of China Daily), Deputy Director Sun Shangwu (Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region), Deputy Commissioner Hua You (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs in the Hong Kong Special Administrative Region), distinguished guests, ladies and gentlemen,

Good morning.

It is a pleasure to join you all at the Greater Bay Area Conference, a welcome opportunity to share a few thoughts on the new dynamics taking shape across the Asia-Pacific, and what they mean for connectivity in the Greater Bay Area (GBA).

The Greater Bay Area, Photo source: reference image

The theme of today's forum is timely, pointing to a question that matters to all of us: the role and prospects of the GBA in the Asia-Pacific.

We are living in an age of profound change, driven by geopolitics and technological transformation. And Asia's collaborative development has entered a new phase. China and ASEAN (Association of Southeast Asian Nations) together account for more than two billion people and some US$23 trillion of GDP, and last year their bilateral trade passed the US$1 trillion mark for the first time. But this is not simply a matter of scale. The change is also one of quality. Demand for computing power and equipment, driven by artificial intelligence, is knitting Asian production and supply chains more tightly together. Regional co-operation is far more technology-intensive than it was even a few years ago.

At the same time, the logic of global investment is shifting. If geopolitical uncertainty has sent capital in search of safe harbours, then technological change is fuelling appetite for high-growth assets. Asia is precisely where the two meet. China's technological capabilities - and its ability to scale them - are increasingly recognised worldwide. ASEAN has a young population, a fast-growing middle class and a digital economy on course to reach a trillion US dollars by 2030. And more good news: the region remains safe and stable.

It is these profound changes that make President Xi Jinping's vision of an Asia-Pacific community with a shared future all the more far-sighted, and all the more relevant. Economies in the region compete as well as collaborate, but it is increasingly clear that regional synergy - working together to make the pie bigger and help each other grow faster - holds the key to growth.

Hong Kong, Photo source: reference image

A multiplying effect

That brings me to Hong Kong and the GBA. When I speak with friends from overseas, I often say that the GBA is unique in the world. Nowhere else will you find, within a single region, a leading international financial centre, one of the world's most dynamic innovation clusters, advanced manufacturing at scale, and a multimodal transport network linking not just East Asia and Southeast Asia, but the world as well.

As the country's most internationally connected region, the GBA presents a strong value proposition for Asia-Pacific collaboration. It rests on a simple conviction: when we partner, we do not merely add up our strengths - we multiply them, and extend their reach well beyond Asia.

Financial markets are a good case in point. Hong Kong has much to offer economies at various stages of development. That includes, for example, a full range of funding options to support innovation, infrastructure and green transition, and our experience in using fintech to advance financial inclusion.

But more compelling still is connectivity. A few months ago, when securities exchanges from across Asia gathered in Hong Kong, I put a proposition to them: that we strengthen connectivity in standards, in trading, clearing and settlement, in underlying infrastructure, and in products. We can cross-list ETFs (exchange-traded funds). We can list companies and infrastructure assets on one another's markets, and support dual listings. Working together, we can deepen liquidity for one another, lower the cost of cross-border activities, and attract global capital jointly rather than separately - and in doing so, inject fresh momentum into the region's growth.

In frontier technology, too, the GBA has much to offer. Embodied intelligence is a good example. We have world-class AI research, outcome translation, application scenarios and international reach – and in Shenzhen, a robotics supply chain where most components are within half an hour's drive. Here, research moves seamlessly to prototype, testing, mass production and, finally, to market. In short, the GBA is rising as an ecosystem open to cross-border collaboration across a wide range of scenarios.

Commercial aerospace, to which this forum will turn today, is another field of enormous potential. Companies in the sector here from the GBA need access to international capital; yet the Asia-Pacific, for its part, is among the fastest-growing space markets in the world. Here again, connectivity is what matters - connection to global customer networks, and alignment of standards. That is precisely the role Hong Kong is uniquely positioned to play.

Whether in finance or in technology, it's people who matter most. As the world turns its attention to a fast-moving Asia, demand for talent across the region is growing. Hong Kong and our sister cities in the GBA are moving towards a deeper integration of education, research, talent development and industry clusters. For Hong Kong, our bilingual and multicultural environment, excellent law and order, top-class universities, and the ease with which we connect internationally, give us a marked advantage in attracting talent from around the world.

Our ambition is to nurture talent for the country and to build Hong Kong into an international education hub serving the Asia-Pacific and the world. The Northern Metropolis' University Town is the vehicle to realise that ambition. It will be where technology, industry and talent meet. And its impact will be felt far beyond Hong Kong.

Hong Kong, Photo source: reference image

Concluding remarks

Ladies and gentlemen, let me conclude with a note on APEC (Asia-Pacific Economic Cooperation). In October, Hong Kong will host the APEC Finance Ministers' Meeting; in November, Shenzhen will host the Economic Leaders' Meeting. We see the occasions as an opportunity for the GBA to serve as a vital link, encouraging dialogue, deepening co-operation, fostering partnerships. And, yes, making our own contribution to building an Asia-Pacific community with a shared, brighter future.

I wish this Conference every success, and all of you the very best of health and business. Thank you.

Hong Kong Customs steps up enforcement actions against counterfeit goods activities with approach of National Day Golden Week of Mainland

Hong Kong Customs mounted special enforcement operations in Yau Ma Tei and Mong Kok on September 3 and yesterday (September 8) to combat the sale of counterfeit goods, and seized about 3 100 items of suspected counterfeit goods with an estimated market value of about $1 million.

Customs earlier conducted patrols at popular visitors' spots and discovered some traders selling suspected counterfeit goods in Yau Ma Tei and Mong Kok. After investigations, Customs officers took enforcement actions during the abovementioned dates and raided nine fixed-pitch hawker stalls on Temple Street, Yau Ma Tei and eight fixed-pitch hawker stalls on Tung Choi Street, Mong Kok. A batch of suspected counterfeit goods, including handbags, clothes, and toys, was seized.

During the operations, Customs arrested one man and six women, aged between 34 and 65. An investigation is ongoing.

With the National Day Golden Week of the Mainland approaching, Customs will continue to step up inspection and enforcement to vigorously combat different kinds of counterfeit goods activities in order to safeguard local consumers' and visitors' rights at full strength.

Customs appeals to local consumers and visitors to purchase goods at reputable shops and to check with the trademark owners or their authorised agents if the authenticity of a product is in doubt. Customs also reminds traders not to sell counterfeit goods and to be cautious and prudent in merchandising since selling counterfeit goods is a serious crime and offenders are liable to criminal sanctions.

Under the Trade Descriptions Ordinance, any person who sells or possesses for sale any goods with a forged trademark commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.

Members of the public may report any suspected counterfeiting activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account(crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Hong Kong Customs steps up enforcement actions against counterfeit goods activities with approach of National Day Golden Week of Mainland Source: HKSAR Government Press Releases