Financial Secretary Welcomes Opening of the Festival of Connoisseurs in Hong Kong

Speech by FS at Festival of Connoisseurs Grand Opening Ceremony

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Festival of Connoisseurs Grand Opening Ceremony today (November 4):

Patrick (Group Chief Operating Officer of the Informa and Chief Executive of the Informa Markets, Mr Patrick Martell), Vivian (Chief Executive Officer of the Airport Authority Hong Kong, Mrs Vivian Cheung), Algernon (Secretary for Commerce and Economic Development, Mr Algernon Yau), distinguished guests, ladies and gentlemen,

Good morning. It is a pleasure to join you for the opening of the Festival of Connoisseurs. I extend a very warm welcome to our guests from around the world.

With superyachts, supercars, private jets, fine jewellery and exceptional wines on display, this is no ordinary exhibition. It celebrates craftsmanship and creativity, and brings together the people who appreciate them.

Congratulations to Informa Markets for bringing this inaugural festival to Hong Kong in less than a year. Your vision, dedication and close collaboration with local partners have given us quite a show.

My thanks also go to AsiaWorld-Expo and the Airport Authority Hong Kong. You have taken the exhibition beyond the halls and onto the water, offering a glimpse of what lies ahead with Skytopia, which I am sure Vivian will tell you more shortly.

The setting is impressive. But what makes Hong Kong the right home for this festival goes beyond the venue.

A festival like this needs people who appreciate the exhibits, customers who want to buy them and an environment where business can flourish. Hong Kong brings all three together.

That is our strength as a "super connector". Capital, goods, talent and information flow freely here. Our taxes are low and the tax system is simple. We don't have VAT (value-added tax) or GST (goods and services tax), and impose no or low duty on the luxuries. Efficient customs clearance and extensive logistics connections help businesses move their goods quickly. As a leading international financial centre and wealth management hub, we bring together investors, wealthy families and discerning consumers.

Besides, Hong Kong is a gateway to the Greater Bay Area, a market of more than 88 million people with a growing appetite for quality products and exceptional experiences. Our reach extends further: half of the world's population is within five hours by air.

For international brands, Hong Kong is more than a showcase. It is a place to find customers, meet partners and develop new business.

Exhibitions help turn those connections into business. A partnership formed here can generate opportunities for years, while visiting exhibitors and buyers support our hotels, restaurants, shops and service providers.

According to the latest figures, the convention and exhibition industry contributed more than $50 billion to our economy.

To drive its growth, we have allocated more than $3.1 billion to the sector since 2020. This includes two rounds of incentives that have supported more than 330 recurrent exhibitions.

And in my Budget this year, I reserved a further $100 million to attract high-quality, large-scale international exhibitions that bring something new to Hong Kong. I am delighted that this festival is the first one under the initiative.

Financial subsidy aside, we are fast expanding our exhibition space. Phase Two of AsiaWorld-Expo will be completed in 2028, with an arena of around 20 000 seats. The Wan Chai North Redevelopment project will expand the Hong Kong Convention and Exhibition Centre and related facilities. These developments will give organisers more room to realise their ideas.

This festival is inspiring. It shows that some opportunities lie beyond the halls. They are on the water.

The superyachts on display demonstrate fine craftsmanship. They also highlight the potential of our yacht economy.

Our harbour, coastline and location in the Greater Bay Area give us a unique competitive advantage. Yet more berths and easier access will help yachting business flourish.

Skytopia, a project of the Airport Authority, plans to provide 500 yacht berths. To enhance Hong Kong's appeal as a marina hub, we are also making cross-boundary sailing easier. Northbound yacht travel from Hong Kong already began in June. A few weeks ago, we welcomed the first batch of southbound yachts from Guangdong under a new scheme.

Easier access gives visitors more options to explore Hong Kong. Our packed events calendar gives them more reasons to stay. This week, we are hosting FinTech Week, the Global Financial Leaders' Investment Summit and this festival.

Sporting events and concerts at Kai Tak Stadium, cultural festivals and seasonal celebrations such as Halloween add to the choice. A conference delegate may stay for this exhibition. A buyer may bring the family and stay for a concert, discovering more of Hong Kong in the process.

Whether we are expanding exhibition facilities, developing yachting or staging more mega events, our aim is the same: to connect people, attract business and create opportunities for our people.

Ladies and gentlemen, this inaugural festival shows what imagination, creativity and collaboration can achieve.

We will continue to strengthen Hong Kong as an international trading centre and a world-class exhibition hub, where craftspeople reach new audiences, brands find new customers and visitors discover something extraordinary.

I wish the Festival of Connoisseurs every success, and all of you a rewarding and enjoyable visit. Thank you.

The Financial Secretary, Mr Paul Chan, attended the Festival of Connoisseurs Grand Opening Ceremony today (November 4). Photo shows Mr Chan (centre); the Chief Executive Officer of the Airport Authority Hong Kong, Mrs Vivian Cheung (left); and the Group Chief Operating Officer of Informa and Chief Executive of Informa Markets, Mr Patrick Martell (right), on a yacht at the exhibition. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Festival of Connoisseurs Grand Opening Ceremony today (November 4). Photo shows Mr Chan (front row, second right) touring an exhibition. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, attended the Festival of Connoisseurs Grand Opening Ceremony today (November 4). Photo shows Mr Chan (centre); the Secretary for Commerce and Economic Development, Mr Algernon Yau (second left); the Chief Executive Officer of the Airport Authority Hong Kong, Mrs Vivian Cheung (second right); the Group Chief Operating Officer of Informa and Chief Executive of Informa Markets, Mr Patrick Martell (first left), and a guest at the opening ceremony. Source: HKSAR Government Press Releases

The Financial Secretary, Mr Paul Chan, speaks at the Festival of Connoisseurs Grand Opening Ceremony today (November 4). Source: HKSAR Government Press Releases

Hong Kong Customs detects drug trafficking case involving incoming passenger at airport

Hong Kong Customs today (November 4) detected a drug trafficking case involving a passenger at Hong Kong International Airport and seized about one kilogram of suspected cocaine with an estimated market value of about $600,000. A man was arrested.

A 36-year-old local male passenger arrived in Hong Kong from Kuala Lumpur, Malaysia, today. During customs clearance, Customs officers found the batch of suspected cocaine in the shoes worn by him. He was subsequently arrested.

An investigation of the case is ongoing.

Customs will continue to step up enforcement against drug trafficking activities through intelligence analysis. The department also reminds members of the public to stay alert and not to participate in drug trafficking activities for monetary return. They must not accept hiring or delegation from another party to carry controlled items into and out of Hong Kong.

Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.

Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.

Members of the public may report any suspected drug trafficking 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 detects drug trafficking case involving incoming passenger at airport Source: HKSAR Government Press Releases