Speech by FS at 2026 APEC Finance Ministers' Working Luncheon with ABAC on digital infrastructure financing
Following is the speech by the Financial Secretary, Mr Paul Chan, at the 2026 APEC (Asia-Pacific Economic Cooperation) Finance Ministers' Working Luncheon with the ABAC (APEC Business Advisory Council) on digital infrastructure financing today (October 20):
Minister Lan (Minister of Finance, Mr Lan Fo'an), fellow ministers, ABAC colleagues,
Good afternoon. Let me first thank the ABAC for hosting this luncheon. Our discussion goes beyond mobilising more capital. It is about making digital infrastructure investable, while ensuring that it delivers affordable and reliable services which are accessible to underserved communities.
In our view, three elements are essential.
First, create an enabling environment for investment. Investors need predictable government policies, transparent licensing and data-governance rules, enforceable contracts, and clarity over the availability of land, power supply and network connections. These pre-conditions should be co-ordinated early to provide a friendly and attractive investment environment.
Hong Kong's experience illustrates that governments need to go beyond just providing clear policies and rules. We have to be proactive and facilitative. For example, for data centre operators, Hong Kong provides them with one-stop assistance, bringing various statutory approvals and compliance requirements under one office, with procedural facilitation. Policy certainty, clear delineation of responsibilities among government departments, and co-ordinated procedures greatly reduce uncertainty and delays, and are very much appreciated by investors.
Second, develop shared digital infrastructure. Beyond physical infrastructure and networks, we should provide common platforms and trusted frameworks on which both the public and private sectors can work together, rather than leaving them to operate in isolation.
For example, Hong Kong's "iAM Smart" digital identity platform allows residents to access different public and private services using a single identity, thereby reducing paperwork and repeated identity verification. Its value lies not simply in putting services online, but in making them more convenient to use. We are planning to extend this digital platform to the business sector later this year.
Similarly, the Hong Kong Monetary Authority's Commercial Data Interchange securely connects banks with commercial data providers, allowing banks, with the prior consent of clients, to use their transaction data and other business records in credit assessment. By doing so, loans can be extended to the SMEs (small and medium-sized enterprises) on the basis of transaction documents, filling the financing gap much needed by SMEs who may not be able to provide real assets as collateral.
Third, we need financing approaches suited to different markets and stages of development. Private utility companies and operators play an important role in Hong Kong's public utility and infrastructure development. In the railway sector, we adopt a railway plus property development approach while in the public utility sector, we implement a franchise approach with schemes of control over their tariff. These require forward-looking policy certainty, with careful calibration to avoid unnecessary subsidies and excessive tariff on consumers.
In our view, MDBs (Multilateral Development Banks) can contribute not only in financing, but also in expertise and experience in project preparation, implementation and operation. There is a lot that MDBs can assist economies in the region in terms of assessing project viability, structuring viable revenue models, allocating risks and establishing transparent procurement arrangements.
On financing, besides bonds and syndicated loans, public listing and securitisation can provide economies with a useful refinancing channel for infrastructure. By bringing mature projects with established cash flows to the capital market, funds can be recycled to invest in new projects. The Hong Kong Mortgage Corporation and the HKEX (Hong Kong Exchanges and Clearing Limited) stand ready to provide the technical and financial help.
Finally, Chairman, success should be measured not only by capital mobilised, but also by affordable, reliable services delivered, and improvement to people's lives. Hong Kong, China, stands ready to share our experience and expertise with governments, businesses and MDBs to translate their priorities into bankable projects to accelerate their sustainable and inclusive growth. Thank you.
The Financial Secretary, Mr Paul Chan, speaks at the 2026 APEC (Asia-Pacific Economic Cooperation) Finance Ministers' Working Luncheon with APEC Business Advisory Council on digital infrastructure financing today (October 20). Source: HKSAR Government Press Releases
STL signs MOU on establishing "brother port" relationship between Hong Kong and Shanghai at North Bund Forum
The Secretary for Transport and Logistics, Ms Mable Chan, attended the 2026 North Bund Forum in Shanghai today (October 20) and signed a Memorandum of Understanding (MOU) on establishing a "brother port" relationship between Hong Kong and Shanghai at the forum.
The 2026 North Bund Forum is themed "Common Challenge, Shared Mission - Promoting the Resilient Development of Global Shipping & Aviation". Ms Chan attended the opening ceremony and the international shipping forum to exchange views with other participants on global maritime developments and enhancing collaboration.
During the release of major achievements at the opening ceremony, Ms Chan and the Director of the Shanghai Municipal Transportation Commission, Mr Xiao Hui, witnessed by Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region Mr Zhang Yong and Vice-Mayor of the Shanghai Municipal People's Government Mr He Qing, signed the MOU on Strategic Cooperation between Hong Kong and Shanghai on Further Promoting High-Quality Collaborative Maritime Development, marking the official establishment of a "brother port" strategic partnership between Hong Kong and Shanghai. The two cities will strengthen collaboration in smart port and maritime development, promote the co-ordinated development of container liners' operations and supporting sectors, advance the development of green and low-carbon port and shipping, foster the synergised development of high-end maritime services, promote the co-ordinated development of the intermodal logistics sector, strengthen the cultural and industry exchanges of maritime sector, and enhance the nurturing of and exchanges among maritime professionals.
Ms Chan said, "Both Hong Kong's First Five-Year Plan and the 2026 Policy Address released last month placed significant emphasis on maritime development, including the expansion of our partner port network and to promote the establishment of a 'brother port' relationship with Shanghai within this year. I am pleased to welcome the good news a month later today, which will further deepen our collaboration with Mainland ports.
"Building a 'brother port' strategic partnership collaboration platform between Hong Kong and Shanghai will help Hong Kong expand its network of co-operation with Mainland ports, jointly enhancing the global competitiveness and influence of the country's two major international shipping centres. Hong Kong and Shanghai will work hand in hand to promote the co-ordinated developments of the shipping sector, leveraging the two sides' unique advantages in the global shipping network to further boost port competitiveness and impetus for growth."
Ms Chan also announced that the Transport and Logistics Bureau (TLB), at an exchange session on shipping co-operation between Shanghai and Hong Kong to be held on the second day of the forum tomorrow (October 21), will witness the official launch of the Shanghai-Hong Kong Express by a shipping company. She noted that she is pleased to see the launch of the demonstration project of co-ordinated development between the shipping industries and ports of the two places, which is a concrete outcome of co-operation under the newly established "brother port" relationship between the two sides. While deepening co-operation with the "brother port", the Government is also striving to broaden Hong Kong's "circle of friends" in the international maritime community. The TLB is actively working towards announcing the second batch of partner ports during Hong Kong Maritime Week, an annual flagship event to be held next month, to further strengthen exchanges and co-operation between Hong Kong and strategically significant ports both domestically and abroad.
In the afternoon, Ms Chan visited a leading local port enterprise to learn about its operations and the latest developments in smart ports and green shipping. Ms Chan met with representatives of the enterprise, which operates the port with the largest container throughput worldwide, to exchange views on strengthening ties and co-operation between Shanghai and Hong Kong in areas such as promoting port services, with a view to jointly advancing the development of the national maritime and port industry.
Ms Chan concluded her visit and departed for Hong Kong in the evening.
STL signs MOU on establishing "brother port" relationship between Hong Kong and Shanghai at North Bund Forum Source: HKSAR Government Press Releases
STL signs MOU on establishing "brother port" relationship between Hong Kong and Shanghai at North Bund Forum Source: HKSAR Government Press Releases
STL signs MOU on establishing "brother port" relationship between Hong Kong and Shanghai at North Bund Forum Source: HKSAR Government Press Releases
STL signs MOU on establishing "brother port" relationship between Hong Kong and Shanghai at North Bund Forum Source: HKSAR Government Press Releases
STL signs MOU on establishing "brother port" relationship between Hong Kong and Shanghai at North Bund Forum Source: HKSAR Government Press Releases
STL signs MOU on establishing "brother port" relationship between Hong Kong and Shanghai at North Bund Forum Source: HKSAR Government Press Releases
