Speech by FS at APEC Finance Ministers' Meeting 2026 Plenary Session 1 - Global and Regional Economic and Financial Outlook
Following is the speech by the Financial Secretary, Mr Paul Chan, at the APEC (Asia-Pacific Economic Cooperation) Finance Ministers' Meeting 2026 Plenary Session 1 - Global and Regional Economic and Financial Outlook today (October 20):
Chairman, fellow ministers, colleagues,
It is a great pleasure to welcome you to Hong Kong, Asia's world city.
The global economy has shown resilience, but that resilience is uneven and under strain. Geopolitical tensions and trade policy uncertainty cloud the outlook, with risks tilted to the downside.
Asia continues to outpace global growth, supported by technology-related trade and investment. We see this momentum in Hong Kong, where merchandise exports rose by more than 40 per cent in value in the first eight months of this year, and around 70 per cent of our IPO (initial public offering) proceeds were attributable to AI-related companies.
Yet prolonged geopolitical disruption would raise energy prices, further fuel inflation and tighten financial conditions, weighing on investment and constraining fiscal space. Concentrated exposures to AI-related assets, particularly where leverage is involved, could amplify market corrections across sectors and borders.
Managing these risks requires fiscal prudence, vigilant financial oversight and closer co-operation in information sharing, risk monitoring and emergency response.
Translation of technological advances into productivity gains, wider adoption of AI, green transition and other innovations require sustained investment. Equally important are building digital infrastructure, developing related skills and literacy, and preparing businesses and communities for change.
Mobilising private capital is essential. Governments need to provide predictable, investment-friendly policies and modernise regulatory frameworks, giving businesses the confidence to innovate and invest.
Regionally, we need open channels for trade and investment, not new barriers. Connected markets allow capital to reach productive uses and technologies be adopted across borders.
Hong Kong, China remains committed to these principles. As an international financial centre, we channel capital into productive investment, while our professional services help businesses enter new markets and commercialise technologies.
Colleagues, interconnected challenges demand co-ordinated responses. Our collective task is to safeguard stability while strengthening the foundations for lasting prosperity. Hong Kong, China stands ready to work with fellow economies to seize opportunities, manage risks and support more resilient, sustainable and inclusive growth across the Asia Pacific.
Thank you.
The Financial Secretary, Mr Paul Chan, speaks at the APEC (Asia-Pacific Economic Cooperation) Finance Ministers' Meeting 2026 Plenary Session 1 today (October 20). Source: HKSAR Government Press Releases
1 155 nomination forms for Election Committee Subsector Ordinary Elections received by deadline
The nomination period for the 2026 Election Committee Subsector Ordinary Elections, which began on October 7, ended at 5pm today (October 20). The Returning Officers for the various subsectors received a total of 1 155 nomination forms by the close of nominations, of which 1 115 were nomination forms for candidates and 40 were nomination forms from designated bodies.
The breakdown of candidate nomination forms received by each subsector is set out below:
| First Sector |
| Subsector | No. of nomination forms for candidates received today | Cumulative total |
| Catering | 0 | 17 |
| Commercial (first) | 0 | 19 |
| Commercial (second) | 0 | 19 |
| Commercial (third) | 0 | 21 |
| Employers' Federation of Hong Kong | 0 | 18 |
| Finance | 0 | 20 |
| Financial services | 0 | 20 |
| Hotel | 0 | 18 |
| Import and export | 0 | 19 |
| Industrial (first) | 0 | 20 |
| Industrial (second) | 0 | 20 |
| Insurance | 0 | 20 |
| Real estate and construction | 0 | 19 |
| Small and medium enterprises | 0 | 17 |
| Textiles and garment | 0 | 19 |
| Tourism | 0 | 20 |
| Transport | 0 | 20 |
| Wholesale and retail | 0 | 19 |
|
| Second Sector |
| Subsector | No. of nomination forms for candidates received today | Cumulative total |
| Accountancy | 0 | 17 |
| Architectural, surveying, planning and landscape | 0 | 18 |
| Chinese medicine | 0 | 19 |
| Education | 0 | 14 |
| Engineering | 0 | 17 |
| Legal | 0 | 16 |
| Medical and health services | 0 | 23 |
| Social welfare | 0 | 25 |
| Sports, performing arts, culture and publication | 0 | 15 |
| Technology and innovation | 0 | 18 |
|
| Third Sector |
| Subsector | No. of nomination forms for candidates received today | Cumulative total |
| Agriculture and fisheries | 0 | 72 |
| Associations of Chinese fellow townsmen | 0 | 60 |
| Grassroots associations | 0 | 75 |
| Labour | 0 | 60 |
|
| Fourth Sector |
| Subsector | No. of nomination forms for candidates received today | Cumulative total |
| Heung Yee Kuk | 0 | 30 |
| Representatives of members of Area Committees, District Fight Crime Committees, and District Fire Safety Committees of Hong Kong and Kowloon | 0 | 88 |
| Representatives of members of Area Committees, District Fight Crime Committees, and District Fire Safety Committees of the New Territories | 0 | 93 |
|
| Fifth Sector |
| Subsector | No. of nomination forms for candidates received today | Cumulative total |
| Representatives of Hong Kong members of relevant national organisations | 0 | 110 |
| | |
| Total: | 0 | 1 115 |
Besides, the breakdown of nomination forms received from designated bodies by each subsector is set out below:
| Accountancy |
| Designated body | No. of nomination forms received from designated bodies today | Cumulative total |
| Association of Hong Kong Accounting Advisors Limited | 0 | 1 (15 nominees in total) |
|
| Chinese medicine |
| Designated body | No. of nomination forms received from designated bodies today | Cumulative total |
| WFCMS (Hong Kong) Council Members Association Limited | 0 | 1 (15 nominees in total) |
|
| Legal |
| Designated body | No. of nomination forms received from designated bodies today | Cumulative total |
| China Law Society's HK Council Members Association | 0 | 1 (9 nominees in total) |
|
| Sports, performing arts, culture and publication |
| Designated body | No. of nomination forms received from designated bodies today | Cumulative total |
| Sports Federation & Olympic Committee of Hong Kong, China | 0 | 1 (3 nominees in total) |
| China Federation of Literary and Art Circles Hong Kong Member Association Limited | 0 | 1 (9 nominees in total) |
| Hong Kong Publishing Federation Limited | 0 | 1 (3 nominees in total) |
|
| Technology and innovation |
| Designated body | No. of nomination forms received from designated bodies today | Cumulative total |
| The Greater Bay Area Association of Academicians | 0 | 1 (15 nominees in total) |
|
| Religious |
| Designated body | No. of nomination forms received from designated bodies today | Cumulative total |
| Catholic Diocese of Hong Kong | 0 | 1 (13 nominees in total) |
| Chinese Muslim Cultural and Fraternal Association | 0 | 1 (10 nominees in total) |
| Hong Kong Christian Council | 0 | 1 (12 nominees in total) |
| The Hong Kong Taoist Association | 0 | 1 (10 nominees in total) |
| The Confucian Academy | 0 | 1 (10 nominees in total) |
| The Hong Kong Buddhist Association | 0 | 1 (10 nominees in total) |
|
| Representatives of associations of Hong Kong residents in the Mainland |
| Designated body | No. of nomination forms received from designated bodies today | Cumulative total |
| Mainland China (Shenzhen) Consultant Services Centre, The Hong Kong Federation of Trade Unions | 0 | 1 (1 nominee in total) |
| Mainland China (Guangzhou) Consultant Services Centre, The Hong Kong Federation of Trade Unions | 0 | 1 (1 nominee in total) |
| Mainland China (Dongguan) Consultant Services Centre, The Hong Kong Federation of Trade Unions | 0 | 1 (1 nominee in total) |
| Mainland China (Zhongshan) Consultant Services Centre, The Hong Kong Federation of Trade Unions | 0 | 1 (1 nominee in total) |
| Mainland China (Huizhou) Consultant Services Centre, The Hong Kong Federation of Trade Unions | 0 | 1 (1 nominee in total) |
| Mainland China (Fujian, Xiamen) Consultant Services Centre, The Hong Kong Federation of Trade Unions | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Tianjin | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Shanghai | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Zhejiang | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Guangdong | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Fujian | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Guangxi | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Sichuan | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Wuhan | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Liaoning | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce in China—Shandong | 0 | 1 (1 nominee in total) |
| Hong Kong Professionals (Beijing) Association | 0 | 1 (1 nominee in total) |
| Shanghai Hong Kong Association | 0 | 1 (1 nominee in total) |
| Guangzhou Tianhe Hong Kong and Macau Youth Association | 0 | 1 (1 nominee in total) |
| Hong Kong Association of China Business | 0 | 1 (1 nominee in total) |
| Hong Kong Chamber of Commerce, Qianhai, Shenzhen | 0 | 1 (1 nominee in total) |
| Hong Kong and Macau Entrepreneurs Branch, Chongqing Overseas Association | 0 | 1 (1 nominee in total) |
| Fujian Federation of Overseas Chinese Entrepreneurs | 0 | 1 (1 nominee in total) |
| Hong Kong and Macao Youth Innovation and Entrepreneurship Federation in Zhongkai Huizhou | 0 | 1 (1 nominee in total) |
| The Hong Kong Fellowship in Huadu Guangzhou | 0 | 1 (1 nominee in total) |
| The Hong Kong Fellowship in Chancheng Foshan | 0 | 1 (1 nominee in total) |
|
| Total: | 0 | 40 (161 nominees in total) |
Particulars of the nominations have been uploaded to the election website (www.elections.gov.hk).
The Returning Officers will determine the order of names of candidates for their respective subsectors to appear on ballot papers and the allocation of the designated spots for the display of election advertisements by drawing of lots at the Civil Aid Service Headquarters and the Kwun Tong office of the Registration and Electoral Office on October 29 (Thursday). The Candidate Eligibility Review Committee will, within 14 days after the close of nominations, publish in the Gazette a notice of validly nominated candidates. If there is a contested election for a subsector, a poll for that subsector will be held on November 22, and the candidate numbers for the candidates concerned to be printed on ballot papers will also be published in the Gazette notice.
The Electoral Affairs Commission (EAC) will hold a briefing session for candidates at the Queen Elizabeth Stadium on November 3 (Tuesday). The Chairman of the EAC, Mr Justice David Lok, will chair the briefing session and brief candidates on the guidelines on election-related activities and important points to note in running their election campaigns. A representative from the Independent Commission Against Corruption will explain the Elections (Corrupt and Illegal Conduct) Ordinance. A representative from the Hongkong Post will explain the arrangements and requirements of the free postage service for election mail. Representatives from the Registration and Electoral Office and the Department of Justice will also be present.
Source: AI-found images
