{"total-count": 33, "returned-count": 33, "results": [{"title": "Speech by FS at welcome dinner of Asia-Pacific Financial Forum 2026 (21.10.2026)", "link": "https://www.info.gov.hk/gia/general/202610/21/P2026102100840.htm", "date": "21.10.2026", "description": "​Following is the speech by the Financial Secretary, Mr Paul Chan, at the welcome dinner of Asia-Pacific Financial Forum (APFF) 2026 today (October 21): Mr Furusawa (Chair of APEC Business Advisory Council (ABAC) Finance and Economics Task Force, Mr Mitsuhiro Furusawa), Ms Marjorie Yang (Hong Kong, China's representative to ABAC), Madam Tian (Division Director of the Ministry of Finance, Ms Tian Xueyun), distinguished guests, ladies and gentlemen, Good evening, and welcome to Hong Kong. It is a pleasure to join you at the welcome dinner of the 2026 APFF Conference. My sincere thanks to ABAC and the APFF for organising the Conference and bringing us together this evening. The APEC Finance Ministers' Meeting has brought finance ministers, senior officials and representatives of international organisations to Hong Kong. We are honoured to host it for the first time, and grateful to the Central Government for its trust and support. To our friends from fellow economies, thank you for your participation and friendship. Over the past two days, we have discussed the shared challenges and priorities facing the Asia-Pacific. One common goal was clear: to strengthen social and economic development through better fiscal and financial policies and closer regional co-operation. The task now is to turn discussion into action. The global economy has shown resilience, but that resilience is uneven. AI is driving growth, yet concentrated exposure to AI-related assets, particularly where leverage is involved, could amplify market corrections. However, holding back investments is not an option. We cannot secure a better future by standing still. Our task is to manage risk without closing the door to opportunity, and to direct capital towards productive investment with sound commercial prospects. That is what an international financial centre should do, and what Hong Kong is determined to deliver. Building the confidence to invest My view is simple: globally there is no shortage of capital. We need the trust that gives investors confidence to commit. That trust cannot rest only on promises, it needs sound institutions and clear rules. Hong Kong is putting these foundations in place. Take financial innovation for example. We embrace its potential while establishing clear rules and safeguards. Our licensing regime for stablecoin issuers took effect in August last year. We have also issued tokenised government bonds and are advancing trials involving wholesale central bank digital currency. Payment links with the Chinese Mainland and Thailand are already serving everyday needs. Beyond sound institutional frameworks, we also need capital at scale. This is where Hong Kong is strong at. Last year, Hong Kong tops the global IPO league table. In the first nine months this year, the IPO market in Hong Kong raised some US$50 billion, more than double the amount in the same period last year. Companies across the AI value chain account for about two-thirds of those proceeds. Our private equity and venture capital sector manages around US$250 billion in assets, second only to the Chinese Mainland in Asia. The patient capital ecosystem is also expanding fast. The Hong Kong Investment Corporation has backed more than 250 companies. Every Hong Kong dollar invested has attracted over eight Hong Kong dollars in international long-term market capital. Making investment count Ladies and gentlemen, sound institutions and investment help businesses grow. But innovation also needs opportunities for practical application, so that ideas can become products and services that people can use. Our collaboration with the cities in the Greater Bay Area helps make that happen. In the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, we are working to facilitate cross-boundary flows of people, goods, capital and data. This helps connect our strengths in frontier research, international finance and professional services with the manufacturing capabilities and comprehensive supply chains of our sister cities. Together, we can help research move faster from the laboratory to production, and from ideas to markets. For businesses across the Asia-Pacific, Hong Kong is a gateway into the Greater Bay Area, and from the Greater Bay Area to the world. The Government has a clear responsibility here: provide direction, remove unnecessary obstacles and create conditions in which businesses can invest. Businesses then bring the enterprise, expertise and willingness to take risks. The First Five-Year Plan of Hong Kong (First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)) provides greater clarity about our long-term development. It gives businesses a stronger basis for planning, while preserving the role of the market in allocating resources. Delivering benefits people can see Ladies and gentlemen, for all the investment and growth, they need to serve a wider purpose: that is, more people must share in the gains from growth. Spending that strengthens health, skills and economic participation is not simply welfare expenditure. It is an investment in human capital and future prosperity. Infrastructure investment can also deliver both public benefits and commercial returns. We can make projects viable and connect them with suitable sources of capital. For example, the securitisation of infrastructure loans by the Hong Kong Mortgage Corporation broaden the investor base and help recycle capital from existing projects into new developments. There is scope to work with multilateral development banks, drawing on their expertise in project assessment, financing structures, revenue models and risk management. Meanwhile, fintech can also widen access to finance and create opportunities for more people. It can help small businesses secure funding, bring affordable financial services to underserved communities, and make cross-border payments faster and cheaper. That is where this Conference can make a difference. The discussions tomorrow on digital finance, connectivity, financing innovation and insurance protection should help us move from common interests to practical collaboration. Different economies will need different approaches. By sharing experience and adapting successful models, we can expand the range of solutions available across the region. Tonight, we can begin with the people around us. Emails and video calls can keep us connected, but it is face-to-face conversations over dinner and during a conference that really deepen understanding and build lasting relationships. I hope you will leave with fresh ideas, new friendships and partners you can call when it is time to act. My thanks once again to ABAC and the APFF. I wish the Conference every success, and look forward to stronger partnerships across our region. To everyone visiting Hong Kong, I wish you a rewarding and enjoyable stay. Thank you very much. Ends/Wednesday, October 21, 2026 Issued at HKT 21:42 NNNN"}, {"title": "Speech by FS at APEC Finance Ministers' Meeting 2026 Plenary Session 1 - Global and Regional Economic and Financial Outlook (20.10.2026)", "link": "https://www.info.gov.hk/gia/general/202610/20/P2026102000482.htm", "date": "20.10.2026", "description": "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. Ends/Tuesday, October 20, 2026 Issued at HKT 16:20 NNNN"}, {"title": "Speech by FS at 2026 APEC Finance Ministers' Working Luncheon with ABAC on digital infrastructure financing (20.10.2026)", "link": "https://www.info.gov.hk/gia/general/202610/20/P2026102000412.htm", "date": "20.10.2026", "description": "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. Ends/Tuesday, October 20, 2026 Issued at HKT 14:55 NNNN"}, {"title": "Speech by FS at seminar on "Digital Public Infrastructure as an Enabler for Resilient Economies" of 2026 AIIB Annual Meeting (28.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/28/P2026092800692.htm", "date": "28.9.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the seminar on \"Digital Public Infrastructure as an Enabler for Resilient Economies\" of the 2026 Asian Infrastructure Investment Bank (AIIB) Annual Meeting in Doha, Qatar, today (September 28, Doha time): Fellow Governors, distinguished panelists, honoured guests, ladies and gentlemen, Good afternoon. It is a pleasure to join you for this discussion on digital infrastructure and economic resilience. From digital services to public value Infrastructure connects people to opportunities. Beyond roads and power grids, digital connections help citizens access services, and businesses reach markets and obtain finance. Yet putting services online does not necessarily make them work together. Citizens may still need to provide the same information repeatedly in order to get different public services, while businesses need to do the same in order to demonstrate their creditworthiness. Digital public infrastructure can bridge these gaps through sharing identity, financial and other information on a single common platform, which can also facilitate payment. For developing economies, the priority may be inclusive and convenient access to essential services. For advanced economies, it may be connecting different systems built separately over many years. Whatever the starting point, all economies want to meet the aspirations of their people: that is, in the digital era, people can use every service they need just a fingertip away. Then, how do we make such data and services available seamlessly for the benefit of the people and businesses? And how do we safeguard their privacy so they can participate with confidence? Allow me to share Hong Kong's experience in this pursuit. Hong Kong's experience In Hong Kong, our extensive broadband networks and established data infrastructure provide a strong foundation. The task is to make public and private services more connected and accessible. \"iAM Smart\", our mobile digital identity platform is one example. It allows our residents to use one identity for different services, from tax filing to accessing health records, thus reducing paper work and repeated verifications. It now supports over 1 400 online services provided by the Government as well as public and private organisations. It is free for our residents, with charges waived for private-sector service providers so as to encourage early adoption. There is still much to do to make the experience smooth and pleasant. Our lesson is to bring government departments and businesses together early, agree on common standards, and design services around our users, thereby removing departmental boundaries. That demands agreement on priorities and co-ordination of implementation timetables. In other words, not simply technology compatibility. We are bringing more services into \"iAM Smart\" and, by the end of this year, extending it to businesses through a Digital Corporate Identity platform. Better connections can also make finance more convenient and inclusive. Our Faster Payment System, or FPS, connects banks and e-wallets for instant transfers around the clock. By the end of last year, the average daily value of transactions done through FPS reached US$2 billion. Its coverage has also been extended to cover cross-border activities. For example, by linking with Thailand's PromptPay. Travellers can pay participating merchants in both places with their usual payment apps. On top of this, e-wallets in Hong Kong - or what we call stored value facilities - have over 90 million accounts. That was nearly a 50 per cent growth compared to 2022. Beyond payments, access to credit remains a challenge for smaller businesses. SMEs (small and medium-sized enterprises) may have sound trading records but insufficient collateral for a bank loan. The Hong Kong Monetary Authority's Commercial Data Interchange, or CDI, securely connects banks with commercial data providers. With clients' prior consent, banks can use such data to assess creditworthiness. By June this year, over 100 000 loan applications with an aggregate value of over US$11 billion had been concluded by using CDI. For importers and exporters, banks traditionally rely on shipping documentation for verification of shipment. Project Cargo X, which builds on CDI, makes cargo and trade data accessible faster, helping banks verify transactions and provide the needed financing. In other words, it enables timely and easier access to trade finance, not simply less paperwork. AI offers a new opportunity to raise productivity and improve public services. In government, our AI Efficacy Enhancement Team is pairing AI adoption with workflow redesign to deliver faster, more responsive services to our citizens and businesses, including licensing approval and complaint handling. Realising AI's potential across the economy requires strong foundational support, including computing capacity and reliable electricity. At Sandy Ridge in the Northern Metropolis, we are developing a major data facility cluster in an energy-efficiency and lower-carbon manner. To make these resources accessible and affordable, we have rolled out a US$500 million Artificial Intelligence Subsidy Scheme for eligible research institutions, start-ups and business enterprises. Besides infrastructure and access, businesses need room to experiment different solutions. In finance, for example, our AI sandbox programme covers banking, securities, wealth management, insurance and retirement plans, enabling firms and regulators to test applications and refine products for wider adoption. Ultimately, the benefits of AI depend on people's ability to use it confidently and responsibly. Our \"AI for All\" programme seeks to broaden AI literacy across the society and strengthen the capabilities of our workforce and businesses. The aim is to equip people from all walks of life to participate in an AI-enabled economy and share in its opportunities. The deeper challenge: governance and trust The deeper challenge in AI adoption is governance. In the interest of time, I would just highlight two closely related challenges. First, cybersecurity. Greater connectivity increases exposure to attacks and disruption. Security must be built in from the outset, supported by regular testing, updating and the ability to recover quickly. Our legislation for protecting critical infrastructure took effect this January, requiring designated operators to assess risks, conduct security audits, prepare response plans and report incidents. The objective is continuity of essential services. Data sharing depends on trust. Our Consented Data Exchange Gateway provides an institutionalised mechanism for secure, consent-based data sharing within the Government and with external stakeholders like the banking sector. On the one hand, this facilitates better and more efficient delivery of public and private services; and on the other, clear and transparent protocols provide the needed safeguards to inspire trust. So far, the gateway has facilitated over 62 million exchanges. Second, AI magnifies risks, making scams more sophisticated and allowing errors to spread at speed and scale. Safeguards must be built into how AI is procured, tested, used and monitored. This month, we released Hong Kong's First Five-Year Plan (the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030)) and the 2026 Policy Address, which set out our AI risk-governance strategy. We will work with stakeholders and professionals on sector-specific guidance and governance frameworks. Safeguards should cater to risks associated with each application rather than in the form of a universal requirement for all. We will also review whether the existing law already adequately addresses liabilities for harm caused by AI. Innovation does need room to develop, but those affected must have clarity about responsibility and redress. Our vision is clear: guardrails must be in place to give people confidence to embrace innovation. In this way, we can move ahead earlier and faster. Working with AIIB Ladies and gentlemen, the next phase of digital development should be measured not simply by how connected we become, but by the opportunities we create and the resilience we build. I commend AIIB for bringing us together to share practical experience on this important subject. Hong Kong stands ready to contribute to share our experience and learn from one another. Together, we can realise the common ambition of building digital infrastructure that improve people's lives and enhance business efficiency. Thank you very much. Ends/Monday, September 28, 2026 Issued at HKT 19:45 NNNN"}, {"title": "Speech by FS at Cathay 80 Years Together Dinner (15.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/15/P2026091500646.htm", "date": "15.9.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at Cathay 80 Years Together Dinner this evening (September 15): Guy (Chair of Cathay Group, Mr Guy Bradley), Deputy Director Zhang Yong (Deputy Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region), Deputy Commissioner Li Yongsheng (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), Ronald (Chief Executive Officer of Cathay Group, Mr Ronald Lam), Consuls-General, distinguished guests, ladies and gentlemen, Good evening. It is a great pleasure to celebrate Cathay Pacific's 80th anniversary with you. Tonight, we celebrate not only an airline, but a journey that belongs, in a very special way, to Hong Kong. From Betsy, your pioneering DC-3, to today's global network, Cathay has grown together with Hong Kong. Even your name speaks of ambition: \"Pacific\" expressed the dream of crossing that vast ocean, long before the airline could do so. That spirit - starting modestly, thinking boldly and looking outwards - is unmistakably Hong Kong. For generations, Cathay has been part of life's most meaningful journeys: the first trip abroad, departure for university, a business venture and a long-awaited reunion. And for returning travellers, that familiar welcome on board brings a comforting feeling: home is already a little closer. Of course, your journey had difficult chapters. During the pandemic, the Government's support reflected our determination to safeguard Hong Kong's status as an international aviation hub and our confidence in Cathay's role within it. That was an investment in our shared future. And it was your people - their professionalism, perseverance and dedication - who helped turn confidence into recovery. Your work matters far beyond air connections. For Hong Kong, every new route is another opening for trade, investment and opportunity. This is our \"super connector\" role in practice: bringing businesses to markets, and people to one another. Looking ahead, the National 15th Five-Year Plan explicitly supports Hong Kong in consolidating and enhancing our status as an international aviation hub. We are determined to translate that support into greater capacity, wider reach and lasting economic benefits. Our Three-Runway System and newly opened Terminal 2 facilities provide more room for growth. The Airport Authority's expanded Airport City development, SKYTOPIA, will further strengthen our airport's appeal - as both a gateway and a destination. With these developments, the Government is pursuing new air services agreements and expanded traffic rights, particularly with partners in the Middle East, Central Asia, Africa and South America. These efforts will give airlines more opportunities to expand their networks through Hong Kong and strengthen our Belt and Road connections. Cathay's plan to launch direct flights to Almaty, Kazakhstan, in January 2027 is a welcome example. It will open a new gateway to Central Asia, creating opportunities for business, tourism, cultural exchanges and deeper friendship between our communities. As the Government opens the way for wider air links, I encourage Cathay to seize these opportunities and add new destinations to your network. In an uncertain world, we must pursue these opportunities with prudence as well as confidence. The case for bringing people together and opening up new markets is stronger, not weaker. Cathay's commitment of around HK$150 billion to aircraft, cabins, lounges and digital innovation is a welcome vote of confidence in Hong Kong's future. I look forward to seeing that investment deliver better journeys for passengers, rewarding careers for local talent, and fresh possibilities for our city. As Hong Kong's home carrier, you are an ambassador for the city. For many visitors, their first impression of Hong Kong begins with your welcome, before they ever see our skyline. Safety without compromise, service with care and respect, onboard dining experience worthy of Hong Kong's reputation, and professionalism in every detail: these are the qualities that earn trust and make Hong Kong proud. And, ladies and gentlemen, I am sure passengers would be delighted to see one more thing: your excellent service accompanied by equally attractive fares. Guy and Ronald, I shall leave that in your capable hands. Happy 80th anniversary, Cathay Pacific. May you continue to bring the world closer to Hong Kong, and Hong Kong closer to the world - and wherever you fly, carry the warmth, ambition and spirit of this city with you. Thank you very much. Ends/Tuesday, September 15, 2026 Issued at HKT 19:25 NNNN"}, {"title": "Speech by FS at AESIEAP CEO Conference 2026 (15.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/15/P2026091500315.htm", "date": "15.9.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Association of the Electricity Supply Industry of East Asia and the Western Pacific (AESIEAP) CEO Conference 2026 today (September 15): Joseph (President of AESIEAP and Managing Director of CLP Power Hong Kong Limited, Mr Joseph Law), TK (Executive Director of CLP Holdings Limited, Mr Chiang Tung-keung), CEOs and representatives of power industries in Asia and the Pacific, distinguished guests, ladies and gentlemen, Good morning. It is a pleasure to welcome you to Hong Kong for this AESIEAP CEO meeting. This meeting brings together energy leaders from across Asia and the Western Pacific to share insights, strengthen partnerships and help shape the future of the power industry. It is an opportunity to learn from one another - and turn shared ambitions into practical progress. The theme, \"Transforming Energy with Intelligence\", asks a timely question: how can we harness technology and human ingenuity to deliver cleaner, more reliable and more affordable energy for all? Energy security and the green transition In an unsettled world, no economy is an island when it comes to energy security. The continuing conflict in the Middle East this year, and disruptions to energy shipments through the Strait of Hormuz, have brought that into sharp focus. Events far from our shores can quickly affect energy supplies, business costs and household budgets. No economy can meet these challenges alone. Nor can we separate immediate energy security from the longer-term transition for climate change. Diversifying supplies, expanding clean energy, strengthening grids and investing in storage will help us advance both. Regional co-operation will make those efforts more effective. Technology, particularly artificial intelligence (AI), offers new possibilities. Smarter grids can integrate more clean energy, while advances in storage can keep power available when and where it is needed. AI can help anticipate demand, detect faults earlier and improve energy efficiency across buildings and industries. Last year, the International Energy Agency estimated that applying existing AI technologies to industrial processes could save more energy than Mexico consumes annually. Faster detection of grid faults could also help shorten power outages by 30 to 50 per cent. And with energy tech start-ups attracting US$27 billion in venture capital last year, the industry represents a significant investment opportunity. Hong Kong's experience Here in Hong Kong, we have also felt the pressures of volatile energy markets. But with our country's strong support, our energy supplies have remained stable. When fuel prices surged earlier this year, the Government introduced fuel subsidies and other concessions to support affected industries and ease pressures on livelihoods. We will continue to monitor the developments closely and ensure that we are ready to respond as circumstances require. Alongside these immediate measures, we remain firmly focused on the longer term. We aim to cease using coal for daily electricity generation and increase zero-carbon energy to around 60 to 70 per cent of our fuel mix by 2035; and achieve carbon neutrality by 2050. But Hong Kong's contribution extends beyond our own transition. We are putting our financial and technological strengths to work for the region. Last year, green and sustainable bonds and loans arranged in Hong Kong exceeded US$76 billion. We also led Asia in issuing international green and sustainable bonds for the eighth consecutive year. Our ambition is to finance not only businesses that are already green, but also those committed to becoming greener. For established, high-emitting industries, the key questions are practical. Is there a credible transition plan? Are the targets measurable? Have investments been committed to delivering them? This is where transition finance can make a real difference: supporting industrial modernisation that reduces emissions and raises productivity. In other words, leveraging finance to serve the real economy. Technology is equally important. At Science Park and Cyberport, innovators are developing a broad range of green solutions. Examples include electricity-free cooling coatings, carbon capture technologies, AI-powered building energy management and hydrogen fuel-cell systems. The Hong Kong Investment Corporation, the HKSAR (Hong Kong Special Administrative Region) Government's flagship for investing in emerging and future industries, provides patient capital to help promising innovations grow. Its work includes supporting charging technologies for deployment in Thailand, and combining storage with AI to help households make better use of solar power. Our role is to bring capital, technology and market demand together - and help turn innovation into practical results. Building a more resilient energy future together Ladies and gentlemen, Asia will remain a major engine of global growth. China and ASEAN (Association of Southeast Asian Nations) together are home to around 2.1 billion people. As our economies expand, electrification gathers pace and AI becomes more widely used, our energy needs will continue to grow. We must therefore look beyond how much electricity we will need, and ask what kind of energy system will best support the next chapter of Asia's development. AI depends on chips, data and algorithms. But it also depends on reliable power. Increasingly, access to clean, reliable and affordable energy will help determine where businesses invest and where new industries take root. Energy policy, in this sense, is also industrial policy. Getting it right will require fresh thinking, creativity and closer collaboration across the region. By bringing together our best minds and drawing on our different strengths, we can achieve more than any of us could alone. Let me offer three proposals for strengthening this co-operation. And Hong Kong is determined to play our part, as the \"super connector\" and \"super value-adder\". First, deepen collaboration across borders and sectors. Energy transformation involves the whole energy value chain, from generation and transmission to storage and use. No single technology or source of finance can deliver this alone. That calls for closer co-operation among researchers, businesses and financiers, from early development through to commercial deployment. Hong Kong Green Week, which concluded just last week, illustrates this approach. It brings together regional and global policymakers, financiers and innovators to share expertise and build partnerships. During the week, the Green Accelerator was launched, which was joined by multilateral development banks, government bodies, think tanks and international financial institutions. It helps emerging markets prepare projects, access technical expertise and design financing packages that can turn promising technologies into viable investments. We welcome you to build on these connections. Second, make green standards work better across markets. Investors need confidence in what they are financing. Businesses need clarity about what is expected of them. Closer alignment in sustainable finance taxonomies, carbon accounting and technical certification can provide both, while respecting economies' different stages of development. The aim is practical: reduce duplication, lower transaction costs and direct capital more effectively. Standards should make co-operation easier, not create new barriers. Third, strengthen regional energy co-operation. The APEC (Asia-Pacific Economic Cooperation) Energy Ministers' Meeting in Beijing called for a future-oriented Asia-Pacific energy community, and endorsed principles for energy security co-operation and recommendations on AI and energy. We should turn that consensus into action through information sharing, emergency preparedness and co-ordinated planning for energy and computing infrastructure. Under the \"one country, two systems\" framework, Hong Kong is the best connector between the Chinse Mainland and the world. We will use that strength to support dialogue, professional exchange and project partnerships that deliver tangible benefits. Concluding remarks Ladies and gentlemen, over the next two to three decades, Asia will play an increasingly important role in global development. We have both the capacity and the responsibility to chart a better path - one that does not repeat the patterns of the past, or leave the environmental costs of growth for future generations to address. President Xi Jinping's observation that \"lucid waters and lush mountains are invaluable assets\" reminds us that protecting the environment and creating prosperity can go hand in hand. Technology is already opening up new possibilities. We can turn waste into electricity, store the sun's energy to light our homes after dark, and use AI to make our power grids smarter and more resilient. With ingenuity and determination, we can achieve so much more. But what really matters is our willingness to act: to invest for the long term, to share expertise, and to work across borders with purpose and trust. Let us bring that spirit to this meeting. Together, we can provide the power our economies need - and build a cleaner, more secure future for the generations to follow. I wish you a most successful conference. Thank you. Ends/Tuesday, September 15, 2026 Issued at HKT 12:37 NNNN"}, {"title": "Speech by FS at launch event of Sohar International Bank in Hong Kong (10.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/10/P2026091000703.htm", "date": "10.9.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the launch event of Sohar International Bank in Hong Kong today (September 10): Your Excellency Ambassador Al Hinai (Ambassador-at-Large at the Foreign Ministry of Oman, Mr Abdulaziz Abdullah Al Hinai), Your Excellencies, Nicholas (Commissioner for Belt and Road, Mr Nicholas Ho), Alpha (Director-General of Investment Promotion, Ms Alpha Lau), distinguished guests, ladies and gentlemen, Good evening. It is a pleasure to join you for the opening of Sohar International's representative office - the first presence of an Omani bank in Hong Kong, and Sohar International's first office in Asia. We are proud to serve as your gateway to this region, and grateful for your confidence in our city. To our friends who have travelled from Muscat and Sohar, a very warm welcome to Hong Kong. Sohar International's arrival reflects a broader momentum. Over the past few years, Hong Kong and the Middle East have drawn steadily closer - in trade and investment, finance, innovation and culture. Our trade with the Gulf states has grown strongly, while Gulf sovereign investors are allocating a significantly greater share of their global portfolios to Asia. This is more than a passing trend. It is a structural shift in capital and commerce, and Hong Kong is well placed to help connect the two regions. Your presence here is a welcome affirmation that these ties are deepening. Others this evening will tell Sohar International's story far better than I can. Let me simply say that becoming Oman's second-largest and fastest-growing bank in less than two decades is a remarkable achievement. You bring to Hong Kong not only a wider geographical reach for our banking sector, but also deep market knowledge and strong connections across the Gulf. We are delighted to welcome you to our financial community. Oman occupies a strategic position along the maritime Belt and Road. Your office here can help channel capital and facilitate trade and investments along these important routes. To support those flows, Hong Kong offers financial, legal and other professional services essential to projects in infrastructure, logistics, energy, agriculture and food security. Hong Kong-Oman collaboration is already taking good shape. Future Fund Oman, part of the Oman Investment Authority (OIA), has partnered with a Hong Kong-headquartered alternative asset manager to launch Oman's first Energy Transition Fund. And I am delighted to note that this morning, the OIA has announced its plan to participate in Hong Kong's vibrant start-up ecosystem by investing up to HK$250 million as a partner to the Innovation and Technology Venture Fund established by the Hong Kong SAR (Special Administrative Region) Government. Projects like these bring together Omani sovereign capital, international investors, Hong Kong investment expertise and projects in both places. That combination illustrates how our strengths can complement one another. It also creates further opportunities for project finance, loan syndication and treasury solutions. The partnership we celebrate tonight works both ways. For Hong Kong and Mainland enterprises looking to expand into the Gulf, Sohar International is a partner with deep sovereign and corporate relationships, first-hand market knowledge, and the experience to help businesses find the right opportunities and build the right connections. In turn, Hong Kong offers your clients a gateway to the Chinese Mainland and across Asia, in particular the wider Guangdong-Hong Kong-Macao Greater Bay Area. They can draw on our capital markets, our asset and wealth management industry, our insurance and risk management expertise, our growing family office ecosystem, our top-notch talent pool, and the world's deepest pool of offshore Renminbi liquidity. Under the \"one country, two systems\" framework, Hong Kong combines close connectivity with the Mainland and internationally familiar business practices. This allows us to serve not only as a \"super connector\", bringing businesses and markets together, but also as a \"super value-adder\", helping those connections deliver lasting value. You also arrive at a time of considerable strength for our financial sector. Hong Kong's asset and wealth management business reached a record US$5.4 trillion at the end of last year, up 20 per cent, while net fund inflows nearly tripled. We have enhanced the tax and regulatory environment for funds and family offices, and we are strengthening our capabilities in green and transition finance. For a bank with strong roots in energy, trade and infrastructure financing, Hong Kong offers you ample scope to prosper. Ladies and gentlemen, a representative office is just a beginning. We look forward to supporting your growth and helping you turn new connections into lasting partnerships. My door - and those of the Hong Kong Monetary Authority and InvestHK (Invest Hong Kong) - will always be open. Let me close by congratulating Sohar International on this important milestone. I wish you every success in Hong Kong and across Asia. Thank you. Ends/Thursday, September 10, 2026 Issued at HKT 19:15 NNNN"}, {"title": "Speech by FS at Biotechnology Investment Forum of BIOHK2026 (10.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/10/P2026091000269.htm", "date": "10.9.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Biotechnology Investment Forum of BIOHK2026 today (September 10): Professor Yu (Chairman of the Hong Kong Biotechnology Organization and President of BIOHK2026, Professor Albert Yu), distinguished guests, ladies and gentlemen, It is a pleasure to join you today at BIOHK 2026. This international gathering brings together several hundred experts and leaders from industry, academia, research, investment and clinical practice to explore the frontiers of biotechnology – from cell and gene therapy and synthetic biology to brain-computer interfaces and longevity science. Cross-disciplinary in scope and cross-border in outlook, this forum reflects Hong Kong's energy and vision as an international health and medical innovation hub. Building on last year's success, this year's programme features an even stronger line-up of speakers, a broader range of topics and greater opportunities for collaboration. The purpose is clear: to bring innovation from the laboratory into everyday life, and turn scientific breakthroughs into lasting benefits for the society. Around the world, technological advances are driving a new wave of investment. Artificial intelligence is, of course, attracting enormous attention. But biotech is also gathering strong momentum. Market data indicate that global biotech fundraising reached approximately US$70 billion last year, an increase of more than 10 per cent, while the value of deals approached US$300 billion, which was an all-time high. The forces underpinning this growth are powerful and enduring. As populations age, helping people live longer and healthier lives have become a pressing priority for advanced economies. At the same time, many developing economies are working to strengthen primary healthcare and disease prevention. Technological progress is opening up new possibilities for addressing these challenges. Investing in biotech is therefore about more than financial returns. It is a long-term investment with profound mission and meaning. Beyond the traditional strongholds of Europe and the United States, investors are increasingly looking to China as a source of biotech innovation and opportunity. The Mainland's vast population and healthcare needs create a market of enormous scale. Its investment in top-notch research, frontier technologies, deep talent pool, and competitive manufacturing capabilities are together fostering a vibrant innovation ecosystem. Home-grown large language models and AI platforms are also accelerating drug discovery and development, improving efficiency and reshaping cost structures. The direction of capital is becoming clearer. Investors are looking beyond the sector's broad promise to identify companies with genuinely original innovations, clear clinical value, strong commercialisation capabilities and the potential for global partnerships. Market data show that last year, out-licensing deals originating from the Chinese Mainland accounted for around one-third of such transactions globally, up from just 5 per cent in 2020. Here in Hong Kong, by the end of August this year, the Hang Seng Biotech Index returned to the positive territory for 2026, rising by around 10 per cent. Some innovative drug developers and pharmaceutical R&D (research and development) service providers have recorded much stronger gains. For investors, the question is how to leverage this wave of innovation and capture its growth. For innovators, it is how to take their discoveries to market, and then to the world. Hong Kong stands ready to be the partner of choice to both - connecting global capital with Chinese innovation, and scientific breakthroughs with commercial application, in pursuit of a better and healthier world. Let me begin with capital. As Asia's premier financial centre, Hong Kong is the world's second-largest biotech fund-raising platform. Up till now, close to 300 healthcare companies were listed on the Hong Kong Stock Exchange, with a combined market capitalisation exceeding US$480 billion. Of these companies, around 100 have listed since we introduced Chapter 18A to our Listing Rules in 2018 to facilitate listings by pre-revenue biotech and pharmaceutical companies. Over the past decade, the healthcare sector's share of overall market turnover has more than doubled, while its trading volume has grown more than sixfold. A Hong Kong listing connects emerging pharmaceutical companies with global capital and, at the same time, enables international investors to allocate capital to Chinese innovation. Our financing ecosystem extends well beyond public markets. Hong Kong's private equity and venture capital manages assets amounting to US$250 billion – second only to the Chinese Mainland in Asia. We also provide strong support to innovation at its earliest stages by channelling patient and long-term capital needed to advance cutting-edge biomedical research, including the use of AI in drug discovery and molecular design. The Hong Kong Investment Corporation Limited (HKIC), our flagship vehicle for patient capital, has so far allocated 22 per cent of its funds to the biotech sector. But its contribution goes beyond funding. The HKIC is building an ecosystem in which portfolio companies collaborate, draw on one another's strengths and find new opportunities overseas. Next, let me turn to research outcome translation and industry. The Guangdong-Hong Kong-Macao Greater Bay Area is rapidly emerging as a leading centre for biomedical innovation. Hong Kong's two medical schools both rank among the world's top 40. We are building a third one with particular emphasis on clinical research in the Northern Metropolis where incoming health-related strategic enterprises will be based. Their strengths are the combination of talent and research excellence, technological innovation and industry development. The Mainland cities of the Greater Bay Area complement these strengths with a market of more than 80 million people, advanced manufacturing capabilities and comprehensive industrial supply chains. Together, we are deepening collaboration in clinical research and drug approval, with the cross-boundary flow of data, biosamples and other elements essential to innovation. The Hetao Co-operation Zone and the San Tin Technopole have a particularly important role to play. For companies establishing a presence there, the advantages are compelling. They can tap into both international and Mainland's R&D resources to develop products fitting for both markets. It is no coincidence that five of the world's top 10 pharmaceutical companies have already chosen Hong Kong as their regional R&D base. Finally, let me speak about talent. Hong Kong is open to talent from around the world. We welcome outstanding scientists, skilled professionals and visionary entrepreneurs who are able to turn bold ideas into practical solutions. We are home to many world-class medical academics, and in recent years our universities have attracted more - among them Nobel laureates and leading authorities in stem cell research and genetics. This growing concentration of expertise will strengthen our capabilities at every stage - from interdisciplinary basic research to clinical translation and medical innovation. The convergence of capital, talent, enterprises and industry creates powerful opportunities for the biotech sector. Hong Kong is determined to bring these strengths together and become an international hub for health and medical innovation. Ladies and gentlemen, as we consider the opportunities ahead, we must never lose sight of why innovation matters. Its ultimate purpose is to help people live not only longer, but also healthier and happier lives with dignity. It is to make medicines and medical devices more affordable, quality healthcare more accessible, and the burden of disease lighter - for individuals, families and the society as a whole. For the investors and innovators in this room, none of this comes at the expense of commercial success. Addressing unmet healthcare needs is precisely what opens larger markets and creates lasting value. Scientific progress, social benefit and sustainable returns can – and should - advance together. Hong Kong is ready to help bring that vision to life. We look forward to working with all of you to turn discovery into better care, and innovation into a healthier future for humanity. I wish BIOHK 2026 every success, and all our guests fruitful discussions, rewarding partnerships and the very best of health. Thank you very much. Ends/Thursday, September 10, 2026 Issued at HKT 10:18 NNNN"}, {"title": "Speech by FS at 11th Belt and Road Summit Keynote Luncheon (9.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/09/P2026090900378.htm", "date": "9.9.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the 11th Belt and Road Summit Keynote Luncheon today (September 9): Your Excellency Vice President Cosse (Vice President of Uruguay, Ms Carolina Cosse), Your Excellency Secretary-General Dr Kao (Secretary-General of ASEAN (Association of Southeast Asian Nations), Dr Kao Kim-hourn), Fred (Chairman of the Hong Kong Trade Development Council, Professor Frederick Ma), distinguished speakers and guests, ladies and gentlemen, Good afternoon. It is a pleasure to join you at today's keynote luncheon. Let me begin by welcoming the Secretary-General of ASEAN, Dr Kao Kim-hourn. Dr Kao and I have met on many occasions, and I had the pleasure of calling on him at the ASEAN Secretariat during my visit to Jakarta last year. He has long championed closer regional co-operation, particularly stronger economic, trade and people-to-people ties between China and ASEAN member states. Dr Kao, thank you for joining us in Hong Kong and sharing your insights today. Over the past decade, ASEAN has consistently outpaced the global economy. According to the IMF (International Monetary Fund), ASEAN grew by 4.9 per cent last year and is forecast to expand by 4.5 per cent this year - more than a percentage point above the global average in both years. This is more than a cyclical upswing. It reflects a deeper structural shift. Trade brings that shift into sharper focus. Two-way trade between China and ASEAN surpassed one trillion US dollars last year, and ASEAN has been China's largest trading partner for six consecutive years. But the more revealing change is in what is being traded. Intermediate goods - parts, components and other production inputs - now account for around two-thirds of the total. Among the fastest-growing categories are electronic components, new-energy equipment and smart devices. Industrial chains are being reshaped across the region. ASEAN's role is evolving beyond production: it is becoming an increasingly important partner in technological advancement and industrial upgrading. Against this backdrop, three powerful forces are reshaping the region's growth prospects and offering three distinct dividends. The first is the demographic dividend. The ten ASEAN member states have a combined population of more than 680 million, almost half of whom are under 30. This provides a strong foundation for a substantial workforce over the next 10 to 15 years, together with a growing consumer base. At a time when many advanced economies face rapid population ageing, this is a considerable advantage. The second is the market dividend. As incomes rise, ASEAN's middle class is expanding rapidly. By some projections, it could account for around two-thirds of its population by 2030. The Regional Comprehensive Economic Partnership and the signing of the China-ASEAN Free Trade Area 3.0 Upgrade Protocol mark important steps towards lower cross-border transaction costs and greater market integration. Together, they open up more room for growth and more opportunities for mutually beneficial development. The third is the technology dividend - potentially the most transformative of all. Artificial intelligence is changing how economies grow and businesses compete. It does more than improve the efficiency of existing industries. It enables new business models and new forms of collaboration. In manufacturing, AI-driven predictive maintenance and supply-chain optimisation are already helping factories across the region make better use of their equipment and resources. In services, AI-powered customer support, fraud detection for cross-border payments and traceability systems for agricultural produce are helping small and medium-sized enterprises reach regional markets. These are not distant possibilities. They are already taking shape in ASEAN member states. The deeper significance of AI, however, lies not in isolated efficiency gains, but in how it changes the way we work together. When data can flow across borders, when models can be trained across jurisdictions, and when standards can be developed jointly, regional co-operation can extend beyond conventional trade and investment. It can encompass the joint development of technology and the sharing of knowledge - creating deeper partnerships in which our strengths reinforce one another. These dividends will not materialise on their own. Turning these advantages into sustained growth requires three things: deep pools of patient capital; open, well-regulated testing grounds; and a strong talent base, supported by the willingness to give new technologies and industries time to mature. First, capital. The region needs a financing hub that connects global investors with its most innovative companies. Last year, Hong Kong ranked first globally for funds raised through IPOs (initial public offerings), while the number of listings from ASEAN and other Belt and Road economies continues to grow. These companies come to Hong Kong for more than funding. They come to broaden their international shareholder base, strengthen their corporate governance and build their global profile. This, in turn, helps them attract talent and expand into larger markets. Second, testing grounds. The Guangdong-Hong Kong-Macao Greater Bay Area offers something few places can match: the ability to develop, test and validate products across different markets and regulatory environments within one closely connected region. Here, almost everything a business needs is within a couple of hours' reach: frontier research, advanced manufacturing at scale, industries that complement those of ASEAN, commercial rules aligned with international best practices, and a consumer market of 88 million. The Northern Metropolis, our top development priority, will deepen this collaboration, facilitating the flow of technology, talent and capital across the border and strengthening the connections between research, commercial application and production. Third, talent - backed by patient capital. Hong Kong is home to five of the world's top 100 universities. Together with our vibrant innovation ecosystem and international outlook, this helps us attract outstanding scientists, engineers and entrepreneurs from around the world. This concentration of talent also draws long-term investors, who are increasingly choosing Hong Kong as a base from which to serve the wider region. Patient capital seeks proximity to promising projects, and, above all, to the people behind them. It is willing to give technologies and business models time to prove themselves, with an eye to their potential to scale. In summary, ladies and gentlemen, by building on our respective strengths and working together, we can turn these assets, capital, testing grounds and talent into greater progress and shared prosperity across the region. That means mobilising finance to support industrial development, establishing common standards to make cross-border collaboration easier, and bringing technology, manufacturing and markets closer together so that innovation in one part of the region also creates opportunities in others. Ladies and gentlemen, the transformation driven by artificial intelligence is only beginning. So too is the opportunity for deeper regional collaboration. The choices we make today - how we share knowledge, align standards, develop talent and commit capital for the long term - will help determine not only how fast our region grows over the coming decade, but how widely the benefits are shared. Hong Kong is ready to play its part: connecting innovators with global markets, mobilising patient capital, and providing a place where talent from across the region can thrive. Let us turn this shared opportunity into tangible progress for businesses, communities and people throughout the region. Thank you very much. Ends/Wednesday, September 9, 2026 Issued at HKT 14:58 NNNN"}, {"title": "Speech by FS at HKSTP Co-Development and Investment Conference 2026 (7.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/07/P2026090700296.htm", "date": "7.9.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKSTP (Hong Kong Science and Technology Parks) Co-Development and Investment Conference 2026 today (September 7): Cordelia (Chairman of the HKSTP, Ms Cordelia Chung), Terry (Chief Executive Officer of the HKSTP, Mr Terry Wong), Lillian (Under Secretary for Innovation, Technology and Industry, Ms Lillian Cheong), investors, start-ups, distinguished guests, ladies and gentlemen, Good morning. It is a pleasure to join you at the inaugural Co-Development and Investment Conference. I must say the name of this conference goes straight to the heart of the matter: co-development and co-investment. When capital markets and the technology industry are properly connected - when they work as one - innovation accelerates. Over the next two days, this conference brings together some 300 investors and more than 500 start-ups, along with leading figures from finance and academia, for a full and inspiring programme of discussions, pitching and business matching. And the journey doesn't end in Hong Kong. The Conference continues for another four days in Dongguan and Hangzhou, linking three cities and three innovation centres in a single, six-day programme. Innovation and technology are, without question, the global economy's most powerful engines today. Artificial intelligence is advancing at extraordinary speed, setting off a wave of capital spending - on computing power, equipment and infrastructure - and opening up practical applications in almost every field. We see this across Asia, where AI is lifting trade and reshaping regional supply chains. And we see it vividly here in Hong Kong, in the strong growth of our electronics and semiconductor exports and in our capital market's appetite for AI-related listings. More important still, AI is transforming industry after industry. In biomedicine, for instance, it is dramatically compressing the time it takes to discover a new drug. And as AI moves into the physical world - into factories, shops and homes - it will generate a difference in kind rather than one merely of degree, with the range of applications expanding exponentially. Opportunities of this magnitude call for real-world settings, where new technologies can be tested and proven. They call for innovation that is able to translate scientific discovery into commercial application. And they call for a capital chain deep enough to take innovation to the global market. That is why both sides of this room are essential. For global investors, in a world overshadowed by geopolitics, the requirement is twofold: stability and security on the one hand, attractive returns on the other. For innovators and entrepreneurs, capital alone is not enough. They need an industrial ecosystem, a steady supply of talent and access to the full range of innovation resources. Nowhere is the combination of finance and innovation stronger than in the Guangdong-Hong Kong-Macao Greater Bay Area. Hong Kong is an international financial centre, a magnet for talent from around the world and home to fast-rising innovation. That makes Hong Kong a natural complement to our sister cities in the Greater Bay Area, with their formidable strengths in advanced manufacturing, commercialisation and scaling. Indeed, Shenzhen-Hong Kong-Guangzhou is the world's leading innovation cluster, according to the World Intellectual Property Organization. This year's ranking will be released tomorrow, and we await it with unshakeable confidence. I understand my colleague, Lillian, the Under Secretary for Innovation, Technology and Industry, will have more to say about Hong Kong and innovation in her keynote shortly. Let me just say this: our innovation flagships, including Hong Kong Science and Technology Parks, play an indispensable role: nurturing start-ups, building networks, developing talent and deepening collaboration with regional and international partners. For the next few minutes, allow me to talk about capital. We are building a capital ecosystem that works for start-ups and serves innovation. According to the HKEX (Hong Kong Exchanges and Clearing Limited), the technology sector's share of turnover in our market has increased over the past decade from 15 per cent to 47 per cent, and the turnover itself has grown more than eightfold. That's the result of sustained reform, carried out hand in hand with the market, to make it easier for technology companies to list here. In 2018, Hong Kong opened to companies with weighted voting rights structures. In 2023, we introduced Chapter 18C to the Main Board Listing Rules for specialist technology companies yet to turn a profit. And we are now, once again, reviewing the listing regime, so that it fits the needs of innovative companies even better. At the front end of the funding spectrum, we are also committed to developing patient capital - capital willing to take risk, invest early and invest for the long term - in support of emerging and future industries. The Hong Kong Investment Corporation (HKIC) is central to that effort, investing with the market and drawing private capital into these fields. The Corporation has now invested in more than 200 projects, and for every dollar it commits, more than eight dollars of long term capital follow. Its initial HK$62 billion capital has been substantially deployed and, as I mentioned in the Budget, we will inject further capital into the HKIC at the appropriate time, giving greater momentum to our innovation development. Behind all these efforts is a simple vision: that a company at any stage of its development can find the right capital partner in Hong Kong. And our proposition is straightforward. We want global investors and innovators to meet each other - right here. Ladies and gentlemen, when it comes to innovation, Hong Kong remains wide open to every investor and every innovator. We welcome you all - from Asia, from the Middle East, from the Americas, from Europe and beyond. It's right here in Hong Kong, where ideas take shape, where capital moves freely, where talent chooses to stay. And where your next business and investment opportunity awaits. I wish you all a rewarding Conference, and for those coming from afar, an enjoyable stay in Hong Kong, Asia's world city. Thank you very much. Ends/Monday, September 7, 2026 Issued at HKT 11:40 NNNN"}, {"title": "Speech by FS at Greater Bay Area Conference 2026 (3.9.2026)", "link": "https://www.info.gov.hk/gia/general/202609/03/P2026090200591.htm", "date": "3.9.2026", "description": "Following is the video speech by the Financial Secretary, Mr Paul Chan, at Greater Bay Area Conference 2026 today (September 3): 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 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. 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. 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. Ends/Thursday, September 3, 2026 Issued at HKT 11:10 NNNN"}, {"title": "Speech by FS at Singapore National Day Dinner (28.8.2026)", "link": "https://www.info.gov.hk/gia/general/202608/28/P2026082800743.htm", "date": "28.8.2026", "description": "​Following is the speech by the Financial Secretary, Mr Paul Chan, at the Singapore National Day Dinner today (August 28): Ambassador Eric Teo (Consul General of the Republic of Singapore in Hong Kong), Deputy Commissioner Hua You (Deputy Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), members of the diplomatic community in Hong Kong, distinguished guests, ladies and gentlemen, Good evening. It is a pleasure to join you tonight in celebration of Singapore's 61st National Day. This is a proud occasion, and a welcome opportunity to pay tribute to the remarkable progress the Lion City has made over more than six decades. Singapore is a nation of foresight. That quality is in your DNA, and perhaps best expressed in the words of the late Lee Kuan Yew, and I quote: \"We are always preparing, thinking, preparing and moving one step ahead… Nothing comes without planning and hard work.\" Hong Kong and Singapore have long enjoyed close ties. We are both open economies that live by finance and trade. Both of us have overcome no small number of challenges along the way. The success of our two cities has always turned on the same qualities: resilience, agility and the ability to respond rapidly to change. Whenever Singapore and Hong Kong are spoken of together, it is tempting to reach for the language of rivalry - a tale of two endlessly competing cities. It is true that we watch each other closely, and learn from each other constantly. Yes, we sharpen each other. The Consul General has just given an excellent account of the many levels of our exchanges. Yet if we look ahead - to the geopolitical landscape, and to the direction in which the global economy is moving - the answer is clear. We should compete where we must, and co-operate where it matters most. Some describe this as \"co-opetition\". Whatever the term, it is in this spirit that our two cities will each realise our full potential, and that our partnership will contribute most to the region. The foundations of our relationship are solid. Singapore's stock of investment in Hong Kong stands at HK$310 billion, and more than 28 000 Singaporeans call Hong Kong home. The fact that the Singapore International School here is the only overseas school supported by your Ministry of Education speaks volumes about the depth of that presence. Last year, 590 Singaporean companies had operations in Hong Kong, 14 per cent more than the year before, and many are expanding. Two of your major financial institutions, for instance, have together committed some HK$4 billion to acquiring their offices in Hong Kong as their operations here grow. Not leasing, but buying. These are clear votes of confidence. Hong Kong's investment in Singapore is on a similar scale, at around HK$340 billion. At the end of last year, the venture fund of our Science and Technology Parks Corporation made a strategic investment in a Singaporean technology company to support its global expansion. Over the past few years, our senior officials have also led technology enterprises to Singapore on various occasions for business matching. We also face a common set of new challenges, technological change and artificial intelligence in particular. The arrival of agentic AI has sharpened concerns. That said, we are both moving quickly to find more efficient ways of doing business, so as to raise productivity and remain competitive. We are also both alert to what technological change means for the labour market. How best to manage disruptions is a question we share. Whatever the challenge, and wherever the opportunity, the logic is this: regional synergy is the best way to drive growth and development in every economy within it. Technological change has opened up ample room in the market, enough for all of us - and our task is to seize that moment and make the pie bigger. Asia offers advantages and potential that cannot be replicated elsewhere. The Chinese Mainland has a vast domestic market, complete industrial and technology chains, and real strengths in high-end manufacturing. ASEAN (Association of Southeast Asian Nations) is booming, with its young population, a rising middle class and fast-growing digital economy. China-ASEAN trade has now passed US$1 trillion, and the region is integrating more closely every year. This creates fresh demand for regional finance and for high value-added services. That's where the growth lies. Here in Hong Kong, we are pressing ahead with the Northern Metropolis as our new economic engine. Together with the Mainland cities of the Greater Bay Area, this will be a place where innovators, advanced manufacturing, world-class universities, top talent and capital all come together. And the Northern Metropolis is not a closed loop. It is open to the region, open to the world. Our goal is to make it a key node of regional synergy - connecting the Greater Bay Area with partners across Asia and beyond. When Prime Minister Lawrence Wong was here in March, he made a point of seeing the Northern Metropolis for himself. Singaporean investors and entrepreneurs are very welcome. What's more, as two of the most international advanced economies in Asia, Hong Kong and Singapore can - and should - work hand in hand to strengthen the region's voice and influence in the global arena. Standard-setting is a good example, and that includes taxonomies for green and transition finance, governance frameworks for AI, rules for cross-border data flows, and much more. On all of these, if we can align our positions and make the case together, we will help lower the cost of doing business across the region, and lift its competitiveness as a whole. Meanwhile, ASEAN members and other emerging economies are at very different stages of development, but all are seeking capital, skills and institutional experience. Hong Kong and Singapore have a great deal to offer them: infrastructure financing, financial services, talent development and our own experience in formulating rules and building institutions. This is not altruism. It is an investment in the stability and prosperity on which we all depend. Taken together, the picture is clear. Our future lies in supporting the region's continuing growth, whether through finance, trade, green transition or technological collaboration. That is how we will open broader and more inclusive opportunities. For both of us. For all of us. Ladies and gentlemen, none of this will happen of its own accord. It will require sustained effort at every level - from our governments, our businesses and our people. Given the goodwill in this room, I have no doubt that we will continue to work together, and go from strength to strength, in Asia and beyond. My heartiest congratulations to you all on Singapore's National Day. May our friendship - and friendly competition - continue to flourish in the years ahead. Thank you very much. Ends/Friday, August 28, 2026 Issued at HKT 20:01 NNNN"}, {"title": "Speech by FS at reception celebrating 81st National Day of Socialist Republic of Viet Nam (25.8.2026)", "link": "https://www.info.gov.hk/gia/general/202608/25/P2026082500712.htm", "date": "25.8.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the reception celebrating the 81st National Day of Socialist Republic of Viet Nam today (August 25): Consul General Mrs Le Duc Hanh (the Consul-General of the Socialist Republic of Vietnam in Hong Kong and Macao​), Deputy Commissioner Hua You (Deputy Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), members of the diplomatic community in Hong Kong, distinguished guests, ladies and gentlemen, Good evening. It is a great pleasure to join you this evening to celebrate the 81st National Day of the Socialist Republic of Viet Nam. This is a day of profound pride for the Vietnamese people. On behalf of the Government of the HKSAR (Hong Kong Special Administrative Region), I extend my warmest congratulations, and our very best wishes, to Viet Nam and to all its people. For more than eight decades, Viet Nam's story has been one of resilience, determination and transformation. Over the past three decades in particular, your country has built a highly competitive manufacturing base, deepened the trade and investment links with the world, and emerged as one of the most dynamic economies in our region. Viet Nam's relations with our country, China, have also been growing from strength to strength. In April this year, President Xi Jinping welcomed General Secretary and President To Lam in Beijing, where the two leaders reaffirmed their shared commitment to deepening the Comprehensive Strategic Cooperative Partnership, and building a community with a shared future of strategic significance. I am delighted by the momentum in the relations between Hong Kong and Viet Nam as well. Today, Viet Nam is Hong Kong's largest merchandise trading partner among the 11 ASEAN member states. Over the past five years, our bilateral merchandise trade has grown by 25 per cent per year on average — and by more than 75 per cent last year alone, led by artificial intelligence-related hardware, electronics and electrical equipment. This growth reflects the deep complementarity of our two economies, and the vitality of the regional manufacturing and supply chain networks in which both Hong Kong and Viet Nam play indispensable roles. Our ties matter all the more at a time of profound change in the global geo-economic landscape. It is in the interest of both of us to work together: to strengthen rules-based and mutually beneficial co-operation across our region; to build more resilient and diversified supply chains; and to open up new opportunities for our businesses and our people. Hong Kong is ready to play our part. As an international financial centre, we are uniquely positioned to support Viet Nam's next stage of growth — financing infrastructure and green transition, connecting enterprises to international capital, and providing premier multi-disciplinary professional services support. Equally, Hong Kong is the most efficient gateway for Vietnamese businesses seeking to access the vast Chinese Mainland market, and in particular the GBA (Guangdong–Hong Kong–Macao Greater Bay Area), a market of some 87 million people with an aggregate GDP of US$2.1 trillion. We value Viet Nam as a close economic partner, and an important member of ASEAN (Association of Southeast Asian Nations) and APEC (Asia-Pacific Economic Cooperation). We very much look forward to welcoming Viet Nam's delegation to Hong Kong this October for the APEC Finance Ministers' Meeting, where we will share thoughts on global economic outlook, financial resilience, deeper regional co-operation and exploring practical solutions to address our common challenges. Likewise, we look forward to Viet Nam's hosting of APEC meetings in 2027, which will offer yet another important opportunity to advance regional co-operation and common prosperity. Ladies and gentlemen, our relationship is far more than trade, investment and finance. It is, above all, about people. Hong Kong is home to a vibrant Vietnamese community, whose members enrich our city's diversity, energy and spirit of enterprise. That contribution extends well to the frontiers of scholarship: Professor Ngo Bao Chau, the first Vietnamese mathematician to receive the Fields Medal, has joined the University of Hong Kong as Chair Professor — a choice that speaks volumes about Hong Kong's standing as a home for the world's finest minds. Meanwhile, we are also delighted to welcome more Vietnamese travellers to Hong Kong. Cultural exchange allows us to appreciate one another's traditions, arts, creativity and achievements. We look forward to welcoming more outstanding Vietnamese artists and performers to our cultural programmes, including the forthcoming Asia+ Festival. Finally, let me take this opportunity to thank the Consulate General of Viet Nam in Hong Kong for the dedicated work in promoting multi-level connections between our two economies, and for the warm support in bringing our two communities closer together. Building on these firm foundations, I have every confidence that the ties between our two economies, and our two peoples, will grow stronger, deeper and more rewarding in the years ahead. Once again, my warmest congratulations to your 81st National Day. Thank you very much. Ends/Tuesday, August 25, 2026 Issued at HKT 19:55 NNNN"}, {"title": "Speech by FS at Asia-Pacific Broadcasting Union Robot Contest 2026 Opening Ceremony (23.8.2026)", "link": "https://www.info.gov.hk/gia/general/202608/23/P2026082300520.htm", "date": "23.8.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Asia-Pacific Broadcasting Union Robot Contest (ABU Robocon) 2026 Opening Ceremony (August 23): Mr Nadeem (Secretary General of the Asia-Pacific Broadcasting Union, Mr Ahmed Nadeem), Cordelia (Chairman of the Hong Kong Science and Technology Parks Corporation (HKSTP), Ms Cordelia Chung), Angelina (Director of Broadcasting, Ms Angelina Kwan), ABU Robocon contestants, distinguished guests, ladies and gentlemen, Good afternoon. What an exciting moment to be here at ABU Robocon 2026 - and to welcome 16 outstanding teams, from 15 countries and regions. Since the inaugural contest in 2002, ABU Robocon has grown into the largest of its kind in the Asia-Pacific Region. But its real achievement is not scale. It is the generations of young people it has inspired to turn imagination into engineering - and to build careers in innovation and technology. I have seen the robots you brought with you. And I see that familiar look on your faces - the mixture of nerves and excitement that belongs to anyone trying into turn imagination to reality. We are living through an extraordinary period of technological change. Over the past two years or so, artificial intelligence (AI) has moved faster than most observers predicted. Machines can be an all-round researcher, write poems, or even pass professional examinations. And while all of that happens on a screen, AI's next frontier is now moving from the screen to the physical world. Robotics is how it gets there. Once an algorithm can see, hear and understand, it still needs a body - something to move with, reach with, and grip with. That body is the robot. Indeed, every swing of a robotic arm in this hall today, every tweak to a balance algorithm, is groundwork for embodied intelligence. People in the industry say that embodied intelligence is still waiting for its ChatGPT moment, or its DeepSeek moment. That moment may be closer than we think. So do not think of this as only a contest. Every attempt you make today - the clean grasp and the spectacular tumble alike - is part of how this technology finds its way forward. That is what makes Robocon so valuable. It is not really about whose robot is fastest or steadiest. It is about the leap from thinking to doing. Here, you meet reality: deadlines, budgets, parts that break the night before, teammates who disagree, and failures nobody saw coming. No textbooks can really teach you that. This will also count for something later. Robocon gives you much more than a line on your CV that employers or graduate schools look for. Perhaps, someday your teammates may become the co-founders of your startup. The judges and mentors you meet - and the rivals across the field - may become your collaborators or even investors. The network you build in this hall may prove to be worth more than the trophy. I know that every competition produces rankings, and only one team lifts the cup. But look at it another way. If you have given this everything, you already leave with three things. First, experience: you now know what works and what does not. Second, knowledge: knowledge you have practised until it became capability. Third, friendship: which is forged over all-nighters and stubborn bugs. By that measure, everyone in this room wins today. Nor should you underestimate yourselves. You have fewer resources than the big technology companies - but they carry bigger burdens: layers of management, long approvals and products to protect. You have speed, curiosity and no fear of trying something that might not work. When technology shifts this fast, that is the more valuable asset. So if I may have three pieces of advice for you. First, keep imagining - do not let today's technical limits set the boundaries of your thinking. Second, keep your hands dirty - build, test, break, repeat. Third, keep learning, because the pace will only quicken, and only those still learning can keep up with it, or even lead it. Ladies and gentlemen, Hong Kong is proud to host this competition once again, 14 years after we last welcomed ABU Robocon. Many of you know Hong Kong as Asia's leading international financial centre, with one of the world's most active markets for listing and fundraising. We are also fast becoming an international innovation and technology hub. This is a direction firmly supported by our country in its National 15th Five-Year Plan. Our innovation ecosystem is growing quickly. Last year, our startup community hit a record of more than 5 200, up by nearly 40 per cent in five years. More than 30 per cent of their founders are non-locals. Our universities give that ecosystem a deep foundation. Five of them rank among the world's top 100, and three rank among the global top 30 in AI and data science. Our innovation flagships, including Hong Kong Science Park and Cyberport, provide startups with funding, facilities, networks and mentorship at every stage of their growth. Then look at the map. The Guangdong-Hong Kong-Macao Greater Bay Area is home to more than 87 million people and is the world's leading innovation cluster. Here, an idea travels seamlessly from research and design to prototyping, testing, manufacturing and market. For a robotics company, the component you need is usually within half an hour's drive. Hong Kong is also a wonderful place to live and work. To our friends from overseas - do take time to explore our harbour, our food, our hiking trails and our culture. And above all, meet our people: open, friendly and enterprising. My sincere thanks to the ABU for choosing Hong Kong as the host city this year; and to RTHK, HKSTP, and all the supporting organisations, sponsors, judges, volunteers and supporters who made this event possible. Finally, I wish all teams the very best of luck. May your code compile, your batteries hold, and your robots be bold. Thank you very much. Ends/Sunday, August 23, 2026 Issued at HKT 17:05 NNNN"}, {"title": "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 (13.8.2026)", "link": "https://www.info.gov.hk/gia/general/202608/13/P2026081300302.htm", "date": "13.8.2026", "description": "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), 趙鵬副主席 (the Vice Chairman of the People's Government of the Xizang Autonomous Region, Mr Zhao Peng), 張建副主席 (Vice Chairman of the Hunan Provincial Committee of the Chinese People's Political Consultative Conference and 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. Ends/Thursday, August 13, 2026 Issued at HKT 12:00 NNNN"}, {"title": "Speech by FS at HKEX China Government Bond Futures Launch Ceremony (3.8.2026)", "link": "https://www.info.gov.hk/gia/general/202608/03/P2026080300310.htm", "date": "3.8.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at HKEX China Government Bond Futures Launch Ceremony today (August 3): 尊敬的吳清主席（中國證券監督管理委員會主席）、尊敬的周霽主任（中央人民政府駐香港特別行政區聯絡辦公室主任）、黃天佑主席（證券及期貨事務監察委員會主席）、梁鳳儀總裁（證券及期貨事務監察委員會行政總裁）、唐家成主席（香港交易及結算所有限公司主席）、陳翊庭總裁（香港交易及結算所有限公司行政總裁）、余偉文總裁（香港金融管理局總裁）、各位嘉賓、各位朋友： 早上好。很高興出席今天國債期貨的上市儀式。首先，請容許我對遠道專程而來的吳清主席和中國證監會的朋友們表示最熱烈的歡迎，對中國證監會、中國人民銀行，以及相關中央部委長期以來對深化內地與香港金融市場互聯互通、鞏固提升香港國際金融中心地位的鼎力支持，表示最衷心的感謝！ 國債期貨從醞釀到落實，經歷了一段時間的協調和準備，在多個中央部委和機構的全力支持、香港特區政府及相關監管機構的的同事的共同努力下，今天正式迎來上市交易。這固然是各方衷誠協作的成果，也反映着客觀條件的成熟。 宏觀背景是國家的經濟實力不斷增強，經濟政策和貨幣政策穩健。今年上半年我國貨物貿易進出口總額突破25萬億元人民幣，按年增長約17%，創歷史新高。新能源、人工智能、芯片等領域正在加速形成具有全球影響力的產業集群。這貿易與產業的發展，帶動了實質的人民幣跨境交易和使用場景，以及人民幣在離岸市場的管理需求。 此外，地緣政局和不明朗的外圍市場環境，也讓海內外投資者對長期持有人民幣資產的需求進一步增加。債券通是境外投資者進入內地債券市場的主要渠道，佔總體交易份額約三分之二。他們通過此渠道持有的中國債券規模，截至今年六月底已超過3萬億元人民幣，比九年前債券通剛開始時的規模多出近三倍。 正因為建立長期倉位，高效的風險管理工具必須相匹配。三年前，在中央相關部委的大力支持下，我們推出了利率互換通，讓境外投資者可以更便利地管理人民幣利率風險。而今天推出的國債期貨，正好補上另一塊關鍵拼圖：為中國國債提供標準化、場內化、可交易、可定價的離岸對沖工具。兩者結合起來，讓離岸人民幣固定收益產品的風險管理體系更完整。 「十五五」規劃明確指出要加快建設金融強國。習近平主席指出，金融強國須具備一系列關鍵的金融要素，其中就包括擁有強大的貨幣，其在國際貿易、投資和外匯市場中被廣泛使用，並具備全球儲備貨幣地位。 人民幣國際化的加速發展，需要強大的離岸支付和結算體系，也需要蓬勃的投資產品和風險管理工具生態，形成較完整的收益率曲線和市場深度。經過多年持續發展，香港已在四個方面積累了堅實基礎：一是穩定的離岸人民幣資金池，目前金額超過1.1萬億元人民幣；二是高效的結算系統，現時我們每月處理接近48萬億元人民幣；三是持續擴大的點心債市場，過去兩年的發行量，每年都超過1萬億元人民幣，存量更突破了1.6萬億元人民幣；四是有國家在港發行人民幣國債所形成的示範效應：國家在香港發行的人民幣國債至今已累計超過4,400億元人民幣。 國債期貨的上市，對香港而言，還有另一重要的戰略意義。香港要鞏固提升國際金融中心地位，便要邁向更多元化的發展，不只做籌融資的中心，還要做定價中心、風險管理中心，以及資產配置中心。國債期貨正好提升香港這些方面的功能和優勢，配合互聯互通的深化，香港的角色將會從「連接內地和國際市場」進一步升級為「雙向配置和雙向風險管理」的樞紐，為國家的金融強國建設作出新的貢獻，也為自身的向新向優發展創造更好的條件。 在人民幣國際化進程中，香港一直是高效的離岸平台和樞紐。為更好服務國家發展的需要、也造就自身更好的發展，我們懷有更大的願景，希望把這個離岸市場做通、做穩、做深、做強，讓產品與服務更緊貼國家發展的需要，也讓國際投資者能更高效地參與在國家的穩健發展歷程中。 各位領導、各位嘉賓，各位朋友，國債期貨的正式推出，是過去一段時間努力的小結，也標誌着服務國家發展需要的另一個階段性起點。推進人民幣國際化、建設離岸人民幣市場，從來不是一朝一夕的事，需要堅定不移、久久為功。香港有責任、更有信心，在國家的堅實支持下，與市場各方一道，把這條路走穩、走遠、走深，為建設金融強國貢獻香港力量。 Now, allow me to say a few words in English. Today's launch is far more than a new product - it closes a critical gap in our offshore renminbi toolkit. We are building a more complete offshore renminbi ecosystem, one in which investment, pricing, and risk management reinforce one another. By bringing together Bond Connect, Swap Connect, and now treasury bond futures, we give international investors not only greater access to the Chinese bond market, but also the confidence to build their bond holdings over the long term, with adequate risk management tools. This is an important step in supporting the long-term development of the offshore renminbi bond market and the broader process of the internationalisation of renminbi. 最後，我再次感謝吳清主席的到來，以及各中央相關部委的大力支持，感謝各位監管機構和政府的同事們過去一段時間的努力，以及今天出席儀式的各位嘉賓朋友。祝願大家身體健康，事業宏達，謝謝。 Ends/Monday, August 3, 2026 Issued at HKT 12:08 NNNN"}, {"title": "Speech by FS at LEAP East 2026 Opening Ceremony (8.7.2026)", "link": "https://www.info.gov.hk/gia/general/202607/08/P2026070800364.htm", "date": "8.7.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the LEAP East 2026 Opening Ceremony today (July 8): Your Excellency Minister Alswaha (Minister of Communications and Information Technology of Saudi Arabia, Mr Abdullah Alswaha), distinguished guests, ladies and gentlemen, Good morning, and welcome to Hong Kong. I am delighted that this very first LEAP conference held outside Saudi Arabia is in Hong Kong. We are honoured that you have chosen us as your partner for this new chapter. With some 35 000 participants from over 30 countries and territories, this turnout speaks volumes about the global appeal of LEAP East and the strength of our shared vision. This conference builds on the deepening ties between Saudi Arabia and Hong Kong across finance, technology, infrastructure and trade, forged through frequent high-level interaction and visits by senior officials and business delegations. My sincere thanks to Minister Alswaha and his team, both for their leadership and for making the journey to Hong Kong. While you are here, I hope you will find time to enjoy the very best of our hospitality. Today, I would like to focus my remarks on two questions: why Hong Kong is an ideal base for innovation; and how Hong Kong and Saudi Arabia - and the wider Middle East region - can seize the opportunities before us, together. Hong Kong's value proposition Hong Kong is perhaps the only city in the world that connects seamlessly to both the Chinese Mainland and the rest of the world at the same time. Working under the common law system, we have robust protection for intellectual property. As a free port, capital, goods, talent and data freely flow in and out of this city. Simple, low tax is a standing feature of our regime. And we are one of the safest, most stable cities anywhere in the world. These are the foundations on which businesses, talent and creativity thrive. We have built a burgeoning innovation and technology ecosystem, with a growing pipeline of promising start-ups and future unicorns. With strong support under the National 15th Five-Year Plan, Hong Kong is fast emerging as a leading international innovation hub. The Secretary for Innovation, Technology and Industry will share more shortly, so allow me to set out the bigger picture - how we support innovation, anchored in three key strategies. First: \"Finance+\" and vibrant capital markets Innovation needs capital, and Hong Kong is where capital and ideas meet. This is the heart of our \"Finance+\" strategy - using finance as a powerful enabler to drive the real economy. Our capital markets are growing not only in scale, but also in breadth and depth. Hong Kong topped the world in IPO (initial public offering) in 2025, with 119 listings raising some US$35 billion, including many world tech champions. This year, the momentum is even more promising. We are a destination of choice for emerging Chinese and international technology companies to raise funds for global expansion. This is a genuine win-win: Companies can tap our active markets to fuel R&D and scale up at home and abroad, while investors gain direct access to the enormous upside of China's innovation-led growth. This is aided by our various \"Connect\" schemes, where international investors can access high-quality Mainland enterprises, while Mainland investors can invest in companies listed in Hong Kong. Public markets, of course, are only part of our success story. Our venture capital and private equity ecosystem is managing over US$230 billion, second only to the Chinese Mainland in Asia. And for frontier technologies that call for patient capital, the Hong Kong Investment Corporation - our Government's investment flagship - has already invested in more than 200 projects, attracting over eight dollars of co-investment by international long-term capital for every dollar it invests. With an initial capital of around US$8 billion, and further injections planned later this year, it will continue to back companies looking to grow from Hong Kong into the international arena. Fintech, in particular, is an important part of this strategy. In Hong Kong, we embrace digital assets because we see their potential to make transactions more efficient, more inclusive, and at lower costs. At the same time, we balance pro-innovation policies with regulation, keeping them within proper guardrails - so that the sector can grow with credibility, while investors and the public are protected. Second: harnessing \"AI+\" Parallel to our \"Finance+\" strategy is our focus on AI, which is a major engine of innovation. We have an AI+ vision: to develop AI as a strategic industry in its own right, while harnessing it as a powerful enabler across different sectors of the economy. Hong Kong has everything it takes to build AI into a powerful industry - computing power, algorithms, data, application scenarios, talent and capital. Across every sector, from finance and industry to healthcare and education, AI is already being put to work. At the government level, we have established the Committee on AI+ and Industry Development Strategy, bringing together leaders from industry and academia to explore how AI can best transform our key sectors. At the same time, we spare no efforts in nurturing talent and raising digital literacy through our AI Training for All initiative, because we believe our community must know how to work with AI - using it to create value, while staying alert to its potential risks. Third: integrating technology, talent, education and industry Our third strategy is to bring technology, education, talent and industry closely together, fostering a virtuous cycle in which one reinforces another. The centrepiece here is the Northern Metropolis. Bordering Shenzhen, it will be home to multiple innovation and technology parks, including the Hetao area. Over there, people, goods, capital, data, and even biosamples will move efficiently across the border. It will create a truly unique cross-boundary innovation space, and an ideal base for international AI, biotech and other cutting-edge industries to conduct research, test the outcomes and deploy them at scale, hand in hand with Mainland partners. In the western part of the Northern Metropolis, we are also developing a 1 000-hectare university town district, where leading universities, research institutes and enterprises will sit side by side, in a vibrant community where research outcomes can move quickly from the laboratory to the real world, and scale up. Which brings me to the deepening collaboration within the cities of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). What makes the GBA so special is the way it weaves capital, innovation, higher education, talent and industry development into a single, integrated whole. The Shenzhen-Hong Kong-Guangzhou cluster ranks first in the world for innovation, and its supply chains are equally impressive. A robotic company in the GBA, for instance, can source almost every component it needs within half an hour's drive. With Hong Kong's international financial centre at its core, the GBA indeed offers something no other region can: the combined strengths of a global financial hub, an innovation powerhouse and an advanced manufacturing base - backed by an affluent population of 88 million, and a potential market of 2.1 billion across China and Southeast Asia. Working with Saudi Arabia and the Middle East Ladies and gentlemen, there is enormous potential for us - Hong Kong and Saudi Arabia - to do more together. Both of us are gateways to our respective regions, and our capital markets are already linked - through mutual listings of exchange-traded funds, a milestone I was privileged to witness two years ago. We warmly welcome Saudi and Gulf enterprises to leverage Hong Kong's capital markets - through listings, bond issuance, asset management, or other partnerships. Let Hong Kong be your international fundraising and risk-management platform, connecting you with investors and markets across Asia and beyond. Your ambitious transformation agenda, Vision 2030, inspires me on every visit. Hong Kong is precisely the gateway and platform where proven frontier technology and advanced manufacturing businesses from the region can settle in Saudi Arabia and expand across Europe and Africa. I plan to lead a delegation to Saudi Arabia again later this year, bringing leading companies in infrastructure, green tech, healthcare and advanced manufacturing, plus professionals in the finance, investment and professional services sector, to explore concrete projects that will advance your goals and deepen our partnership. Closing In the end, it all comes down to friendship and connection - between people, between ideas, between capital and opportunity. That is what LEAP is about: building those connections across regions and across cultures, on the basis of trust and friendship. On that note, I wish this conference every success, and I am particularly delighted to note that this conference will continue to be held in Hong Kong in the coming three years. I am confident that the partnership between Hong Kong and Saudi Arabia will be even stronger in the many years to come. Thank you very much. Ends/Wednesday, July 8, 2026 Issued at HKT 12:48 NNNN"}, {"title": "Speech by FS at Hong Kong FIC & Bond Connect Summit (7.7.2026)", "link": "https://www.info.gov.hk/gia/general/202607/07/P2026070700567.htm", "date": "7.7.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong FIC & Bond Connect Summit today (July 7): Kelvin (Chairman of the Securities and Futures Commission (SFC), Dr Kelvin Wong), Eddie (Chief Executive of the Hong Kong Monetary Authority (HKMA), Mr Eddie Yue), Julia (Chief Executive Officer of the SFC, Ms Julia Leung), Bonnie (Chief Executive Officer of the Hong Kong Exchanges and Clearing Limited, Ms Bonnie Chan), distinguished guests, ladies and gentlemen, Good afternoon. It is a great pleasure to join the FIC and Bond Connect Summit. Let me begin with a figure. Last year, our interbank clearing system processed HK$105 trillion every month - across Hong Kong dollar, US dollar, renminbi and euro - of which the renminbi accounted for some 48 trillion yuan. What makes this significant is not just the scale, but what it reflects: the distinctive role Hong Kong plays in an increasingly complex global financial landscape. Indeed, capital is searching for fresh opportunities, and currency use is growing more diversified. That is the context in which we meet today. The FIC market is not simply about products or trading channels. It is part of a bigger market through which capital is priced, allocated and managed across borders. It also shows how Hong Kong continues to connect the Chinese Mainland, Asia and global capital in ways that are efficient, trusted and unique. I would focus my remarks around three questions. First, how is Hong Kong's FIC market adapting to shifts in global capital allocation? Second, what does Hong Kong distinctively offer international investors? And third, as geopolitics evolves and the international monetary system becomes more multipolar, are we seeing increasing financial fragmentation - or the emergence of new and more sophisticated channels of connectivity? The FIC Market in Hong Kong At the heart of this discussion is connectivity. For Hong Kong, connectivity is not a slogan. It is built through markets, infrastructure and trust: an expanding Mainland bond market, an offshore platform for pricing and distribution, and the clearing, currency and risk-management systems that allow capital to move with efficiency and confidence. I will begin with infrastructure, because it is where Hong Kong's relevance is most unique in a more complex geopolitical landscape. As the world's fourth-largest foreign exchange market, Hong Kong offers the market depth that investors need when raising funds and managing cross-border positions, particularly as the international use of the renminbi continues to broaden. Last year, over US$133 billion of Asia's international bond issuance was arranged in Hong Kong, accounting for about a quarter of the regional total. Over the past two decades, this market grew at a compound annual rate of around 20 per cent, making Hong Kong Asia's largest international bond-arranging hub. Increasingly, renminbi financing is part of that success story. Dim sum bond issuance has exceeded RMB1 trillion in each of the past two years, with outstanding stock surpassing RMB1.6 trillion. In 2025, we saw first-time issuances by the Government of Indonesia and the Development Bank of Kazakhstan - and Indonesia is back again this year. International issuers increasingly see Hong Kong as a natural venue for offshore renminbi financing. The HKSAR Government has a role to play as an issuer and market builder. In May, our multi-currency, multi-tenor green and infrastructure bond issuance attracted investors from more than 30 jurisdictions across Asia, Europe, the Middle East and the Americas, with an order book 8.6 times the issuance size. On the fintech front, we made early moves in applying tokenisation to government bond issuance. Beyond our own issuances, we are working with the market to develop the broader FIC ecosystem, including the use of tokenisation and distributed ledger technology in the fixed income market. These measures help us build a market that is deeper, more efficient and accessible, and better able to connect Mainland opportunities with global capital. Hong Kong's Value Proposition Taken together, the developments above point to Hong Kong's distinctive value proposition. International capital turns to Hong Kong for more than market depth. It's here because Hong Kong offers two things at the same time: an open, trusted and well-regulated platform; and efficient access to the opportunities arising from the Mainland's continued development. This combination matters even more in the current geoeconomic environment. As investors reassess allocation, liquidity and risk across markets, they look for platforms that are open, stable and predictable. Under the \"one country, two systems\" framework, Hong Kong continues to give them the confidence they seek. At the same time, investors are keen to seek exposure to the Chinese Mainland's steady long-term growth and technological innovation. Hong Kong is where that access can be achieved through market practices that international investors understand and trust. Hong Kong is chosen not because of geographic proximity, but our institutional strengths. Figures in respect of our Connect Schemes speak volumes about this. Today, more than 70 per cent of international investors' A-share holdings were acquired through Stock Connect, and around two-thirds of their Mainland bond holdings were transacted through Bond Connect. These channels have become part of the operating architecture of cross-border investment into China. As liquidity gathers here, it also creates demand for a broader range of products, better risk management tools and deeper links with the Mainland's FIC markets. This morning, Governor Pan announced a series of important measures to deepen two-way connectivity between Hong Kong and the Mainland. These measures will further widen the channels through which investors can access Mainland assets, allocate capital and manage risk. The HKSAR Government welcomes these initiatives, and the HKMA, the SFC and other relevant authorities will work closely with the market to implement them in a timely manner. The second part of Hong Kong's value proposition lies in supporting the international use of the renminbi. The country's 15th Five-Year Plan explicitly calls for advancing renminbi internationalisation, and Hong Kong is well placed to contribute to this national strategy. Last year, we published the Fixed Income and Currency Market Development Roadmap, which sets out our vision and action agenda for strengthening primary issuance, deepening secondary-market liquidity, developing offshore renminbi business and building next-generation market infrastructure. In the context of offshore RMB business, we will work on three fronts: first, enriching the offshore renminbi product ecosystem; second, strengthening the infrastructure that supports clearing, settlement and risk management; and third, deepening liquidity so as to serve investment and financing needs more effectively. Not a Fragmenting System Now, on the third question: As the international use of the renminbi expands, are we witnessing the fragmentation of the financial system? My answer is that we should not confuse diversification with fragmentation. The wider use of different currencies is a natural response to a more multipolar global economy. Countries and companies are looking for more options in clearing, settlement and financing. They seek to reduce concentration risk, to manage external shocks, and to improve cost and efficiency; in other words, to add resilience and optionality to the regime. The renminbi is an important part of this evolution, given China's role as a major trading and industrial power, and the growing international appetite for Chinese financial assets. The numbers illustrate the point. China accounts for around 12 per cent of global merchandise trade, yet the renminbi represents only about 4 per cent of global trade settlement and just 2 per cent of global central bank reserves. This does not mean the gap will be closed overnight. But it does suggest that, as market infrastructure deepens and more use cases develop, the renminbi can play a larger role in trade, investment and reserve management. In other words, the story is not one of substitution, but of complementarity. The US dollar and other established reserve currencies will continue to play important roles. Meanwhile, more economies and market participants will use their own or regional currencies where it makes commercial and financial sense to do so. A more diversified currency system can still be an integrated one, provided that the channels of connectivity remain open, trusted and efficient. The same logic applies to new payment and settlement infrastructures. CIPS (Cross-border Interbank Payment System), CBDCs (Central Bank Digital Currency), stablecoins and other digital solutions should not be seen simply as alternatives to existing ones. The real question is whether they can make cross-border payments and settlement more open, interoperable, efficient and cheaper. For many emerging markets, particularly those with large remittance flows and SME trade, the practical needs are clear: lower cost, faster processing, greater transparency and less friction in cross-border transactions. What we are likely to see, therefore, is not the breakdown of the international financial system, but the gradual emergence of a more diversified network of interoperable infrastructures. The key question for the coming decade will not be which single system prevails. It will be whether different systems can work together safely, efficiently and under standards that market participants trust. Concluding remarks Ladies and gentlemen, as Hong Kong continues to develop its fixed income and currency markets, our choice is clear. We will strengthen connectivity, build more robust, efficient and open market infrastructure, and continue to help global capital access Mainland opportunities. The future of finance should be shaped by systems that can work together - and Hong Kong is ready to help realise that connectivity faster. I wish this Summit every success, and all of you good health, and the best of business. Thank you very much. Ends/Tuesday, July 7, 2026 Issued at HKT 15:28 NNNN"}, {"title": "Speech by Acting FS at Greenway 2026 - Closing and Sharing of Business Recommendations (23.6.2026)", "link": "https://www.info.gov.hk/gia/general/202606/23/P2026062300747.htm", "date": "23.6.2026", "description": "Following is the speech by the Acting Financial Secretary, Mr Michael Wong, at Greenway 2026 - Closing and Sharing of Business Recommendations today (June 23): Ambassador Rouse (Ambassador and Head of Office of the European Union to Hong Kong and Macao, Mr Harvey Rouse), Mr Hack (Chair of the European Chamber of Commerce in Hong Kong, Mr Johannes Hack), Professor Wong (Chairman of Environment and Sustainability Committee of Hong Kong General Chamber of Commerce, Professor Steve Wong), distinguished guests, ladies and gentlemen, I would like to start by thanking the European Union Office and the European Chamber of Commerce for co-organising this marvellous event. We are excited to unveil the Greenway 2026 Industry Recommendations just presented to me. They provide a collaborative roadmap for our partnership on green transition. They also highlight the power of open exchange between Hong Kong and our international business partners, including the vibrant community of over 1 780 European companies in Hong Kong. It is highly encouraging to see how the Green Way insights closely align with Hong Kong's approach. In the next few minutes, I would like to share with you how we are tackling the challenges involved through policies and new initiatives in four areas. Firstly, new sources of energy and their efficient use. We are transforming our fuel mix and phasing out coal. Specifically, for electricity generation, we will progressively increase the use of zero-carbon energy to about 60 per cent to 70 per cent by 2035, up from 25 per cent last year. And we aim to achieve the target of \"net-zero electricity generation\" by 2050. We are also working on hydrogen, which we see as a promising source of new energy. We believe hydrogen can help particularly to decarbonise heavy-duty vehicles. In this regard, we announced our strategy regarding hydrogen development back in June 2024, and are progressively establishing the relevant comprehensive safety standards and codes of practice. Currently, we are formulating a green and low-carbon hydrogen certification framework, and we aim to get it ready next year or even earlier. Apart from hydrogen, we are working on sustainable aviation fuel (SAF) and green maritime fuels. We have started building a SAF value chain in the Greater Bay Area, and we aim to achieve a 1 per cent to 2 per cent SAF usage for flights departing from Hong Kong by the year 2030. In parallel, we are gearing up to develop Hong Kong into a pre-eminent green maritime fuel bunkering and trading centre. In 2025 alone, over 220 000 tonnes of green maritime fuels were bunkered in Hong Kong. This March, we performed our first green methanol bunkering operations at anchorage and at our container terminals. Both were highly successful. Secondly, our work regarding waste reduction and the promotion of biodiversity. Our first modern waste-to-energy facility for treating municipal solid waste, I‧PARK 1, commenced its first phase of trial operation in December last year, and we will soon seek funding for the construction of I‧PARK 2. Furthermore, a recycling facility for EV (electric vehicle) batteries will commence operation in our EcoPark very soon. As regards biodiversity, we updated the relevant Strategy and Action Plan, the so-called BSAP (Biodiversity Strategy and Action Plan), in December last year. It will help align with the relevant national and global frameworks well into the next decade. Thirdly - I think that was mentioned by Chairman Hack and Professor Wong - green tech and green finance. We see them as indispensable elements supporting our green transformation. We have established a HK$400 million Green Tech Fund. It has already approved 39 R&D (research and development) projects covering decarbonisation technologies ranging from hydrogen energy to advanced waste upcycling. As regards green finance, we will continue to leverage our strengths as an international financial centre to connect international capital with green projects. In 2025, the total green and sustainable debt issued in Hong Kong exceeded US$76 billion. Within this amount, the volume of green and sustainable bonds arranged in Hong Kong was about US$38 billion, and this accounted for about 40 per cent of the regional total, and we ranked first in the Asian market for eight consecutive years since 2018. My fourth and last sharing this afternoon relates to public education. Sustainable development cannot succeed without an environmentally conscious public. We have therefore included in our primary and secondary school curricula relevant content ranging from carbon neutrality to waste reduction. At the community level, we have recently launched a new campaign to let members of the public know how they can help reduce carbon through green living. Ladies and gentlemen, the European Union business community is a critically important partner for Hong Kong. We deeply value the European Union's pioneering contributions to green technologies and to the development of robust international standards. And I must thank our European partners again for bringing to Hong Kong their vision, their world-leading techs, and their environmentally friendly culture. Hong Kong has much to learn, and Hong Kong will do our part in contributing towards a more resilient, more sustainable world in collaboration with all like-minded partners in the European Union. Thank you all very much. Ends/Tuesday, June 23, 2026 Issued at HKT 20:38 NNNN"}, {"title": "Speech by FS at Hong Kong Investment Funds Association 19th Annual Conference (22.6.2026)", "link": "https://www.info.gov.hk/gia/general/202606/22/P2026062200273.htm", "date": "22.6.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Investment Funds Association (HKIFA) 19th Annual Conference today (June 22): Sam (Chairman of the HKIFA, Mr Sam Yu), Kelvin (Chairman of the Securities and Futures Commission, Dr Kelvin Wong), distinguished guests, ladies and gentlemen, Good morning. It is a pleasure to join you at the Annual Conference of the Hong Kong Investment Funds Association - and what a special occasion it is, as we celebrate the Association's 40th anniversary. My heartfelt congratulations. Forty years ago, the founders of this Association came together with a simple purpose: to give this industry a collective voice, shared standards, and a platform to engage with regulators. Four decades on, that purpose has been more than fulfilled. The HKIFA has grown into one of the most respected industry bodies in the region, and the industry it represents has grown with it - from a local marketplace to a global hub for cross-border capital. Global capital allocation is undergoing a fundamental realignment, and this hub is where the flows are converging. In my conversations with investors around the world over the past two years, I have sensed a marked change: not mere optimism or pessimism, but a systematic reassessment. Many institutions have recognised that their allocation to this region has long been low. At the same time, China's leading technology enterprises are accelerating their integration into global market supply chains and industrial bases, generating real and substantial demand for international capital. The convergence of these two forces has placed Hong Kong in an unprecedented position. But we must be candid: This position was not driven by external factors alone. It rests on the institutional foundations Hong Kong has built over decades - the common law system, an internationally respected regulatory framework, and professional market intermediaries - all operating within a constitutional framework that preserves our distinctive role, plus the steadfast support of the Central Authorities. In this fast-changing environment, the world is entrusting us with a new task, and our responsibility is to prove ourselves worthy of it. The markets have already cast their vote. Last year, net fund inflows to Hong Kong-domiciled funds reached some $350 billion, and the momentum has carried into the first quarter of this year, with nearly $100 billion more. When the Securities and Futures Commission publishes its latest survey in July, I am confident we will see another encouraging set of numbers. These numbers reflect something important. Hong Kong is no longer simply a marketplace for global capital to pass through. We are becoming their trusted steward. Then, what market conditions must exist for global investors to continue to increase their allocations here? The answer spans multiple dimensions. First, the breadth and depth of investment products. Over the past two years, the number of exchange-traded products (ETPs) listed in Hong Kong has grown from fewer than 180 to more than 240, with assets under management approaching $650 billion, placing us firmly among the world's top three ETF markets. Several of these products even rank as the largest of their kind globally. This is not merely numerical growth; it means global investors can now allocate to gold, technology, cross-border indices, and even digital assets through Hong Kong, at a lower risk premium. Second, the reliability and efficiency of financial infrastructure. We are advancing the establishment of an International Central Securities Depository that supports multi-asset custody, cross-collateralisation and cross-border settlement. The significance of this work lies not in the technology itself, but also in the efficiency of capital deployment that it will enable. We also introduced several legislative amendments over the past few years to further enhance the competitiveness of our fund regimes, with generous tax concessions. I hope you would make good use of it. Third, the continued deepening of connectivity. We have established collaboration with 20 exchanges worldwide, and are expanding dual listings and cross-border product offerings with more jurisdictions. Every move to collaborate reduces the institutional friction of cross-border capital allocation. We also spare no efforts in enhancing existing connect schemes. For example, as announced last week, with the support of the Central Authorities, treasury bond futures will be launched in August, complementing Bond Connect and Swap Connect to form a more complete risk-management toolkit for RMB assets. These arrangements are designed to give international investors hedging and pricing options when allocating capital to RMB assets. Separately, the global reassessment of China's technological capabilities is not merely a valuation adjustment; it is a cognitive reframing. International investors start to understand more China's innovation ecosystem, and Hong Kong, with its international connectivity and familiarity with the developments on the Mainland, is uniquely positioned to provide that connection function. This unique connection is most powerfully manifested in the Greater Bay Area. This region combines frontier research, abundant application scenarios, advanced manufacturing, and an international capital market. Such a combination is uncommon anywhere in the world. Hong Kong's role is to serve as the professional intermediary between this ecosystem and global capital. And our role is not just a platform for them to raise funds for their global expansion, but also to help them align their corporate governance with international standards and best practices, gain greater recognition from investors and enhance their global visibility. Ladies and gentlemen, as we broaden our product offerings, enhance our infrastructure, deepen our connectivity, and mobilise capital to support technology innovation, we are in fact doing one thing: building a credible bridge between global capital and Chinese technological innovation. The value of this bridge is ultimately not measured just by the size or ranking of our market, but by something more fundamental - trust. That trust rests on a judiciary exercising powers independently, transparent regulations, and professional intermediaries that investors rely on when they choose Hong Kong. In choosing Hong Kong, they are not just choosing a market by geographical location; they are choosing a set of predictable behavioural standards. And it is the daily practice of those standards - in every product you list, every allocation you recommend, every project you commit to - that will define this industry's future. That future began 40 years ago, when the founders established this Association to represent the industry. Today, you can be proud of the confidence you have inspired. I trust that the expertise, professionalism and integrity you bring to your work will continue to shape Hong Kong's position in the global financial system. On this important milestone, I once again congratulate the Hong Kong Investment Funds Association on 40 remarkable years. I wish you continued success in many more decades ahead. Have a rewarding and fruitful conference. Thank you. Ends/Monday, June 22, 2026 Issued at HKT 11:52 NNNN"}, {"title": "Speech by FS at keynote luncheon of Hong Kong Trade Development Council Branch Directors' Meeting (15.6.2026)", "link": "https://www.info.gov.hk/gia/general/202606/15/P2026061500531.htm", "date": "15.6.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the keynote luncheon of the Hong Kong Trade Development Council (HKTDC) Branch Directors' Meeting today (June 15): Sophia (Executive Director of the Hong Kong Trade Development Council, Ms Sophia Chong), colleagues of HKTDC, distinguished guests, ladies and gentlemen, Good afternoon. Now that dessert has been served, I guess Sophia wanted to make sure you would all be in a good mood before I begin. I am grateful for the strategy. It is a real pleasure to be with you today. To all Branch Directors and overseas colleagues of the HKTDC: welcome home, after another year of hard work on the front lines around the world. Many of you have been based overseas for extended periods. I'm sure you can see and feel the shifting currents of the global economic landscape first hand. Intensifying unilateralism, geoeconomic fragmentation, technological disruption and regional conflicts are reshaping the direction, substance and structure of global trade and investment. As the saying aptly goes: the only certainty is uncertainty. Clearly, the world is changing. But for those seeking to do business, invest and create value, this is also a world rich in opportunities. One thing can be said with confidence: our country, China, has emerged as a pivotal force for future global growth. For investors around the world, understanding China's role in the new wave of global development and technological innovation has become an indispensable part of any serious asset allocation strategy. China's new frontier The National 15th Five-Year Plan is a remarkable document charting our country's future. Two points are particularly worth noting. First, it places industrial modernisation and technological self-reliance at its very core. Here, AI holds a special place. It will be a major industry in its own right, but the broader vision is for AI to empower every sector under the \"AI+\" strategy. In many frontier technologies, China has moved to the forefront. Add to this its unmatched manufacturing capabilities, the world's most complete supply chains, and one of the most stable electricity supplies anywhere on the planet. Together, these form a formidable foundation for emerging and future industries - from AI to 6G, and from biotech to aerospace. China is set to be an increasingly powerful engine of technological advancement, and a defining voice in shaping rules, standards and governance. The second point worth noting is the strong emphasis placed on high-level, two-way opening up. But this is not a mere reprise of the past. Reform and opening up since 1978 made China the world's factory, supported in large part by competitive labour costs. That model had already long undergone a fundamental shift. First, we are seeing what may be called an outbound technology transfer. Companies such as CATL and BYD are building factories in Europe. The trend of Mainland companies, products and technologies going global will only accelerate in the years ahead. Second, China is building a more powerful consumption market - one that increasingly seeks quality products and services from around the world. The Central Government has made clear that more quality foreign products and services are welcome. After all, China is one of the very few countries in the world that hosts a dedicated import expo every year. Hong Kong's changing role I have spent some time on our country's strategic direction because it is inextricably linked to Hong Kong's value proposition as a \"super connector\" and \"super value-adder\". Indeed our role is being elevated in a number of ways. On the merchandise trade front, the sharp rise in Hong Kong's exports over the past year speaks to strengthening intra-regional trade ties, as the Mainland continues to realign its supply chains and industry base across Southeast Asia. ASEAN (Association of Southeast Asian Nations) is our second-largest trading partner. Digging deeper into headline figures, a more telling story emerges. The prominence of electronic and communications products in our re-exports reflects the world's surging quest for AI-related development. And it also underlines a fundamental reality: for all the talk of supply-chain diversification, the depth, scale and sophistication of China's industrial ecosystem remain indispensable. In the capital markets, global investors are increasingly attracted by China's technology prospects. That is why they look to Hong Kong to access the stocks of Chinese technology companies, many of which remain attractively valued. And as the use of home currencies in global trade increases, global holders of Renminbi are seeking more investment and risk-management tools. Hong Kong is the natural hub for them. We are rolling out more Renminbi-denominated products, enhancing Renminbi liquidity, and improving the relevant supporting infrastructure. We have also become a preferred home for technology and innovation enterprises. The reasons are clear. Companies value our ability to bridge the Greater Bay Area with the international market. They value our bilingual and multicultural environment. And they value our international visibility as a platform to showcase products and technologies. Many international technology companies are eager to establish a presence in Hong Kong. For instance, five of the world's top 10 pharmaceutical companies have set up R&D (research and development) centres in Hong Kong, drawn by the Greater Bay Area's capabilities in clinical collaboration and the cross-boundary data flow. So if Hong Kong was once valued mainly as a gateway into China, today we are just as important as a launch pad for Chinese enterprises, capital and innovation outcomes to reach the world. Taken together, these developments point to one unmistakable truth: Hong Kong is no longer simply connecting the dots; we are helping to create the next generation of opportunities. And at this rare moment of global realignment, we cannot afford to miss our chance. Playing a catalytic role This is precisely why we position ourselves - the HKSAR (Hong Kong Special Administrative Region) Government - as a capable government serving an efficient market. Classic Hong Kong has always emphasised a laissez-faire level playing field and favourable environment for businesses to thrive. Today, we also recognise the importance of our catalytic role. We remain champions of the free market and free trade. But there is much more we can do to cocreate Hong Kong's future. In this year's Budget, we proposed the \"Finance+\" and \"AI+\" strategies. The core concept is empowerment. Through \"Finance+\", our goal is to broaden and deepen Hong Kong's financing functions as an international financial centre, and to make finance serve the real economy more effectively. This means strengthening the financing chain for enterprises at different stages of growth - from venture capital and private equity, to listing, bond issuance, wealth management, risk management and cross-boundary capital flows. It also means using Hong Kong's capital markets to help technology companies scale up; provide trading businesses with better treasury, settlement, insurance and risk-management services; support Mainland enterprises as they go global; and help international companies access the Mainland and Asian markets. Through \"AI+\", we will develop AI as an industry, while also accelerating its adoption across the wider economy. On the one hand, Hong Kong will continue to build the foundations for AI development - including computing power, infrastructure, data, R&D, talent, financing and commercialisation support. On the other hand, we will encourage the application of AI in finance, trade, logistics, professional services, healthcare, education, public administration and many other sectors. The purpose is not simply to promote a new technology. It is to help enterprises raise productivity, create new business models, help improve public services, and equip our workforce and community for the profound changes that AI will bring. Today, we launched a public consultation on Hong Kong's own Five-Year Plan. This is an important step in aligning proactively with the National 15th Five-Year Plan, while setting out Hong Kong's own medium- and long-term priorities. The power of connectivity Ladies and gentlemen, our vibrant future will not be possible without strong international connections. To capture the opportunities ahead, Hong Kong must continue to widen its global network, deepen its market intelligence, and strengthen its ability to connect people, capital, goods, technology and ideas across borders. This is where the HKTDC's role is so important. With 51 offices around the world, working alongside our 15 Economic and Trade Offices and other government partners, you are Hong Kong's eyes and ears – as well as ambassadors – in the global marketplace: reading the local mood, identifying emerging opportunities, and building the trust that opens doors. I would encourage each of you to stay closely attuned to developments on the Mainland and around the world - from shifting supply chains and capital flows, to emerging markets and the transformative impact of AI. At the same time, keep close track of Hong Kong's progress and evolving strengths. The better we understand both the world around us and the city we represent, the more compellingly we can tell Hong Kong's story - and the more effectively we can translate that story into opportunities. Thank you very much. And now I am happy to take your questions. Ends/Monday, June 15, 2026 Issued at HKT 14:20 NNNN"}, {"title": "Speech by FS at French Chamber of Commerce and Industry in Hong Kong Gala Dinner (5.6.2026)", "link": "https://www.info.gov.hk/gia/general/202606/05/P2026060500941.htm", "date": "5.6.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the French Chamber of Commerce and Industry in Hong Kong Gala Dinner this evening (June 5): Consul General Christile Drulhe (Consul General of France in Hong Kong and Macao, Mrs Christile Drulhe), Rebecca (Honorary President of the French Chamber of Commerce and Industry in Hong Kong, Mrs Rebecca Silli), distinguished guests, ladies and gentlemen, Bonsoir. Good evening, everyone. Two weeks ago, I was in Paris. I wandered into a bistro, and the owner - upon knowing that I was from Hong Kong - broke into a smile and said, \"I heard Hong Kong is a major buyer of French fine wine. Now that you're in Paris, you should have a few more glasses to pair with our delicacies.\" The place was gloriously noisy, full of laughter and warmth. The vibe here tonight takes me right back to that evening. And perhaps that's no surprise. There is an undeniable air of romance and elegance woven into the fabric of French cuisine, wine and the people. This year marks the 40th anniversary of the French Chamber of Commerce and Industry in Hong Kong. Over these four decades, the ties between our two places have grown ever deeper and stronger - 700 members, 400 enterprises, 10 000 French citizens calling Hong Kong home. These are not merely statistics. They speak to a conscious choice: the choice to put down roots here, to make this city their own, and to build lasting relationships rather than simply conducting transactions. That is a testament to the true depth of what we share. Last year, bilateral merchandise trade between Hong Kong and France reached HK$88 billion - a rise of more than 10 per cent. Wine is very much part of the story: 11 million bottles, accounting for 70 per cent of the total value of our wine imports. French visitors went up by nearly 20 per cent, and that momentum has carried well into the first four months of 2026. Clearly, the affection is mutual. When I was in Paris meeting policymakers, asset managers and financial institutions, one thing came out clearly: Europe is undergoing a profound repositioning, driven by a strong desire to change and diversify. We see that ambition at work: in seeking new trading partners and growth opportunities; in channelling savings into technology, innovation, digital transformation and green transition; and in deepening collaboration with China and the broader Asian region. With our strategic location and the unique advantages under the \"one country, two systems\" framework, Hong Kong is the natural connector and enabler. The National 15th Five-Year Plan places strong emphasis on high-level opening up. As the Chinese market continues to open, it is creating greater room for premium foreign goods and services to take hold. For French enterprises, this represents more than market expansion - it signals a rising sophistication among consumers, an area in which French brands have long excelled. And Mainland companies going global are seeking opportunities in Europe. They will bring investments and create jobs. Hong Kong is the platform supporting them with financing, professional services and cultural connections. Going forward, artificial intelligence (AI) is fast reshaping the global economic landscape. Hong Kong has adopted \"AI+\" as a key economic strategy and launched \"AI Training for All\" to equip our people with the skills needed for tomorrow. France, too, counts many world-leading names in deep tech and artificial intelligence. We each bring complementary strengths to this partnership - France, with its tradition of bold scientific thinking and deep expertise in AI research; Hong Kong, with its vibrant innovation ecosystem, entrepreneurial energy, and unmatched connectivity across Asian markets. Different in character, but equally formidable. In fact, French start-ups have always been a vital part of Hong Kong's innovation landscape, and our doors remain wide open to them. Because in the end, opportunities shared will allow co-creation of a bigger pie, and turning ideas into real-world impact is never the work of any one party alone. Ladies and gentlemen, this 40th anniversary is not just a milestone - it is a new beginning. The chapters ahead, I believe, will be even more compelling - led by technology, sustainability and finance, enriched by mutual appreciation, and shaped by the participation of each one of you in this room tonight. I thank the French Chamber for 40 years of deep engagement with and support to Hong Kong. I wish the Chamber continued success, and French wine and style as excellent as ever. Merci beaucoup. Thank you very much. Ends/Friday, June 5, 2026 Issued at HKT 20:42 NNNN"}, {"title": "Speech by FS at National Day of Sweden reception 2026 (5.6.2026)", "link": "https://www.info.gov.hk/gia/general/202606/05/P2026060500558.htm", "date": "5.6.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the National Day of Sweden reception 2026 today (June 5): Consul General Ms Louise Bergholm (Consul General of Sweden to Hong Kong), Deputy Commissioner Zhang (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region Mr Zhang Changwei, members of the diplomatic community in Hong Kong, distinguished guests, ladies and gentlemen, Good afternoon. It is a pleasure to be here today in honour of the National Day of the Kingdom of Sweden. And to be speaking to so many members of our industrious and enterprising Swedish business community in Hong Kong. I'm sure today's reception will be followed by many family-and-friend gatherings throughout Hong Kong and well beyond. And there's more to follow in Sweden this month. Two weeks from now, it's the Nordic Midsummer Celebration, featuring everything from ice baths to pickled herring - and more. According to the Swedish Chamber in Hong Kong, Midsummer is, and I quote, \"the one day when even the most reserved Swede will dance around a flower-covered pole pretending to be a small frog.\" A country that has given the world Astrid Lindgren can do anything it wants. Lindgren was the author of many internationally celebrated children's books, including Pippi Longstocking. Pippi, of course, was the strongest girl in the world, able to lift a horse with one hand. She was also kind and compassionate, a reflection of the author's longstanding beliefs that strength should go hand in hand with kindness. Lindgren once wrote, and I quote, \"If you are very strong, you must also be very kind.\" That is a message for children, and for their parents, no doubt. But it is also one that speaks to countries, economies and their leaders. In today's fraught geopolitical world, a little kindness, openness to other beliefs and values, and willingness to appreciate their circumstances, can go a long way. After all, we know that differences exist between cultures, histories, ways of life and paths to good governance. But differences need not divide us; they can be a starting point for mutual respect, deeper understanding, and learning from one another. Hong Kong, like our country, firmly believes in these values. We believe in keeping our doors wide open to the world - to economies, companies and talent, in trade and investment, as in arts, culture, education and the essential people bonds that underlie them all. And I'm pleased to say that there is far-reaching opportunity in Hong Kong's good and growing ties with Sweden. Our bilateral merchandise trade last year rose by a cheering 11.5 per cent over the previous year, to about US$950 million. Services trade, too, grew by nearly 8 per cent in 2024, to about US$900 million. The Swedish Chamber of Commerce in Hong Kong is a strong testament to our enduring business ties. This year, the Chamber celebrates its remarkable 40th anniversary - 40 years of bringing Hong Kong and Swedish businesses together. Hong Kong is proud to offer Swedish companies a favourable and dynamic business environment. The recent Business Climate Survey, conducted by Team Sweden in Hong Kong, points to a steady improvement in how Swedish companies perceive Hong Kong's business climate over the past three years. The survey also shows that 67 per cent of them use Hong Kong as a regional hub. Our role as a gateway to the Chinese Mainland, our business potential, free market economy, and simple and low tax regime remain the most appealing advantages for Swedish companies here. And I believe these advantages will only grow stronger in the time to come. The National 15th Five-Year Plan places strong emphasis on the country's high-level two-way opening up. Our country will continue to support more outbound investment, while welcoming more high-quality foreign goods and services into its market. This is a process of further leveraging the complementary strengths among economic partners. And I am sure that more Swedish and European goods and services will be welcomed by the expanding and increasingly sophisticated consumer market on the Chinese Mainland. And Hong Kong can certainly help Swedish enterprises seize the opportunities ahead. The potential for our collaboration in innovation and technology is equally compelling. Hong Kong is rising fast as an international innovation and technology centre, supported by the accelerated development of the Northern Metropolis. Sweden has world-class innovation capabilities and industrial strengths. There is much we can achieve together. Hong Kong attaches great importance to AI (artificial intelligence), for we believe in its transformative power. There is much scope for collaboration with Sweden in AI - from research and application to education and talent development. A recent study by Statistics Sweden reports that 35 per cent of Swedish companies used at least one form of AI technology last year, well above the European Union average of 20 per cent. Then there is life science and health technology. Sweden is a global leader in this field, which is also our priority development area. It sounds like a natural fit. For example, Hetao - or the Loop - along the Shenzhen River is fast becoming a major hub for life and health technologies. Over there, we are enabling the cross-boundary flow of biological samples and clinical data. We are also working to host a branch of the Mainland's regulatory authority. That will facilitate quicker access of pharmaceutical products and medical devices to the Chinese Mainland market. In fact, Mainland and overseas clinical trial institutions are already operating there. A number of world-class pharmaceutical companies have established their presence in Hetao. Beyond business and investment, our partnership can extend to many other areas, from arts and culture to sports. Speaking of which, the world will soon be watching Sweden - and 47 other countries, playing in the FIFA World Cup, which gets going next week. Good luck, blue and yellow! Ladies and gentlemen, my heartfelt congratulations on your National Day. May the friendship between Hong Kong and Sweden continue to flourish, and may our partnership grow even stronger in the years to come. Thank you very much. Ends/Friday, June 5, 2026 Issued at HKT 14:55 NNNN"}, {"title": "Speech by FS at at HKTA 35th Anniversary Conference (3.6.2026)", "link": "https://www.info.gov.hk/gia/general/202606/03/P2026060300581.htm", "date": "3.6.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the HKTA 35th Anniversary Conference today (June 3): Ka-shi (Chairman of the Hong Kong Trustees' Association, Ms Lau Ka-shi), members of the Hong Kong Trustees' Association (HKTA), distinguished guests, ladies and gentlemen, Good afternoon. It is a pleasure to join you today to celebrate the 35th anniversary of the Hong Kong Trustees' Association. Let me begin by offering my warmest congratulations to the HKTA - to your leadership, your members, and everyone who has contributed to building this institution and its strong reputation over the years. Hong Kong's growth as an IFC Looking back over the past 35 years, Hong Kong, as an international financial centre, has undergone a remarkable transformation. In particular, over the past decade or so, alongside our country's high-quality development, Hong Kong's financial centre status has been elevated to a new level. Take our stock market as an example. Over the past 10 years, market capitalisation has more than doubled, from around $23 trillion to over $47 trillion. Bank deposits have increased by about 80 per cent, or $9 trillion, to reach over $19 trillion. Asset and wealth management, an area closely connected with everyone here today, has grown from $18.2 trillion to more than $35 trillion. MPF (Mandatory Provident Fund) assets have also almost doubled, from around $800 billion to about $1.5 trillion. Last week, Hong Kong was named the world's largest cross-boundary wealth management centre. It was also projected that Hong Kong's growth in this area would continue to lead the world over the next five years. Hong Kong has indeed been moving up rapidly in the IFC league table. In the Global Financial Centres Index, our score is now only two points behind New York and one point behind London. A decade ago, the gap was around 40 points. Our growth is not merely a story of scale. It is a story of constant reinvention. Through the reforms to our listing regime, deepening of the Connect schemes, and stronger connectivity with Southeast Asia and the Middle East, Hong Kong has been expanding its role as a bridge between the Mainland and the world. In the face of trials and tribulations, Hong Kong has remained resilient, and emerged stronger. The trust industry is an integral part of this success. You provide the fiduciary backbone that underpins the sustained and smooth operation of MPF schemes, private trusts, family offices, philanthropic structures and other arrangements. You safeguard assets, protect beneficiaries, uphold governance, and reinforce confidence in Hong Kong as a trusted place to manage, preserve and pass on wealth. You are an indispensable institutional infrastructure safeguarding our financial security. Going forward, I believe three major trends will bring more capital flows, more cross-boundary activities, and stronger demand for the services of our trust industry. First, the growing demand for diversification and reallocation in an increasingly fragmented geo-economic environment. Global capital is looking for safe harbours. Investors are looking for markets that are stable, reliable and predictable, while offering opportunities and investment returns. Second, the global wave of innovation and technology. China's technological innovation will be one of the most compelling long-term themes in the investment world. Capital that believes in the growth potential of China and Asia, and in this region's capacity for innovation, will increasingly look to this part of the world for opportunities. And third, our country's high-level two-way opening up under the National 15th Five-Year Plan. Hong Kong will serve as a hub for more Mainland companies going global, while attracting more capital and enterprises from around the world to access Mainland opportunities through our platform. The \"Finance+\" strategy These trends are also the very basis upon which we proposed the \"Finance+\" strategy in the Budget this year. The goal is clear. We want to capitalise on these major trends to grow a bigger pie, empower different industries, and create more opportunities for the financial services sector. This means advancing further in areas where we have enduring competitive strengths. Hong Kong has a mature and sophisticated fundraising market. Our IPO (initial public offering) performance has been strong. We have a vibrant venture capital and private equity sector. Yet, we are working to build an even more comprehensive financing chain, a richer product offering and a more vibrant financial ecosystem, so that we can unleash fully our development potential. On products, we support the introduction of more diverse and innovative investment products and risk management tools to satisfy different investors' needs and appetites. Bonds are a good example. We are working to attract more national governments, international institutions and companies to issue bonds of various tenors and currencies here. We are also developing a one-stop, multi-asset class post-trade securities infrastructure. That will cover both Mainland and Hong Kong equity and debt securities, facilitating cross-product collateralisation to enhance market liquidity. Exchange-traded products (ETPs) are another example. In 2024, there were fewer than 200 listed ETPs in Hong Kong, with an AUM (asset under management) of about $460 billion. Today, the number has grown to more than 240, with AUM reaching around $650 billion, a 40 per cent increase in just two years' time. So are gold and commodities. We are strengthening this market by expanding warehousing capacity, enhancing settlement arrangements, and supporting product innovation through digitalisation, tokenisation and development of derivatives. Together, these initiatives are opening up new horizons for Hong Kong's financial markets, broadening the range of opportunities for investors and creating new room for growth across the financial services sector. For the trust industry, our efforts to facilitate re-domiciliation are highly relevant. Since last year, 37 companies have moved their place of incorporation to Hong Kong, while preserving their legal identity and business continuity. They include some of the world's leading insurance companies. Later this year, we will introduce a bill to enhance our tax regime for funds and family offices. These send a clear message. Hong Kong is an open and welcoming home for family offices, trusts, funds, talent and enterprises. A word to the trust industry Ladies and gentlemen, I believe the trust industry is well placed to benefit from the \"Finance+\" strategy. But to capture these opportunities, three priorities are important. First, uphold the highest standards of integrity and professionalism. Trustees have a special role because you often stand at the centre of long-term relationships involving families, beneficiaries, investors and institutions. That trust carries tremendous responsibilities. Second, strive for excellence and embrace technology and innovation. Technology is transforming investment products, compliance, administration, reporting and risk management - in short, every aspect of your operations. Embracing technology is no longer optional. At a more fundamental level, artificial intelligence (AI) and digitalisation are reshaping the very foundations of the trust business - from what constitutes an asset, to how ownership and control are established and exercised, how fiduciary duties are discharged, and how business is conducted. For trustees, this poses new challenges in custody, valuation, cross-boundary regulatory compliance, daily administration and cyber security. But it also creates new opportunities. For example, as assets become more digital, the market will need greater legal certainty, stronger governance and trusted fiduciary oversight. These are areas where Hong Kong has clear strengths, and where our trust industry can play an important role in safeguarding assets for families, pension members and investors. Our task, together, is to harness cutting-edge technology while staying true to the timeless principles of prudence and loyalty, so that the trust business remains an anchor of confidence in an increasingly digital market. Third, invest in talent. More complex rules, more cross-boundary work, new technologies and new product types will increase demand for experienced trustees, risk managers, compliance professionals, lawyers, accountants, and wealth planners. We need people who can discharge fiduciary duties in the age of technological and digital transformation. We need people who understand family succession, public accountability and cross-boundary regulation in the age of AI. And we need people who understand both the Chinese Mainland and the world - people who can bridge the two and contribute to both. I am pleased to note that the HKTA has long been committed to professional training, which is essential to building a deeper and more resilient talent pool for Hong Kong. On our part, the Government is committed to building a stronger asset and wealth management ecosystem and the trust industry. We will continue to work with the industry to further enhance the competitiveness of Hong Kong as a centre of excellence for the trust industry. Closing Ladies and gentlemen, for 35 years, the HKTA has demonstrated leadership, professionalism and commitment to excellence. The next 35 years will be even more exciting. The global geo-economic balance is shifting. Technological innovation is accelerating. Wealth in Asia is fast building up and clients are becoming more sophisticated and demanding. Families, enterprises and investors will need better structures, better governance and better advice. But the foundation of success will remain true and the same: professionalism, integrity and trust. I am confident that the HKTA will continue to bring the industry together, lead with vision, and contribute to the next stage of Hong Kong's success as an international financial centre. The Government will be your partner every step of the way. Once again, my heartfelt congratulations to the HKTA on your 35th anniversary. Here is to the next 35 years. Thank you very much. Ends/Wednesday, June 3, 2026 Issued at HKT 15:50 NNNN"}, {"title": "Speech by FS at 30th Hong Kong Medical Forum (16.5.2026)", "link": "https://www.info.gov.hk/gia/general/202605/16/P2026051600480.htm", "date": "16.5.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the 30th Hong Kong Medical Forum today (May 16): Professor Zhang Xiang (President and Vice-Chancellor of the University of Hong Kong (HKU)) , Professor CS Lau (Vice-President & Pro-Vice-Chancellor (Health)(Interim) and Dean of Medicine of the HKU, Professor Lau Chak-sing), Professor Tse Hung-fat (Chairperson of the Department of Medicine of the School of Clinical Medicine of HKU Li Ka Shing Faculty of Medicine), Professor Desmond Yap (Deputy Chairperson of the Department of Medicine, HKU and Chairman of the Organising Committee of the 30th Hong Kong Medical Forum), Professor Rosie Young (Emeritus Professor and Honorary Clinical Professor for HKU Li Ka Shing Faculty of Medicine), distinguished guests, ladies and gentlemen, Good afternoon. It is my honour to join you at the opening of the 30th Hong Kong Medical Forum. It is heartening to see so many academics, clinicians and industry partners gathered here today, exchanging knowledge across such a remarkable breadth of medical disciplines. To those who have travelled from around the world — a very warm welcome to Hong Kong. 30 years ago, the inaugural Forum welcomed fewer than 300 participants. Today, this hall brings together over 2 500 leading medical experts from across the globe. From precision diagnostics to innovative therapeutics, from chronic disease management to pandemic preparedness — the programme before us is itself the finest testament of your sustained pursuit of medical excellence. 30 years of excellence This year's theme captures something important. 30 years of accumulated insight, clinical rigour, and cross-border collaboration is a formidable legacy. But the next decade will demand more than continuity. Technological innovation is disrupting and redefining everything at unprecedented speed. You know better than I do how AI is profoundly changing medical discovery. The question for us is not just how this transformation will applied, but who will shape it — and where. Hong Kong can play a pivotal role. Four distinctive factors stand out. Hong Kong's advantages First, intellectual property (IP) protection. For life-sciences investors, IP security is a precondition. Under the \"one country, two systems\" framework, Hong Kong's common law framework, a judiciary exercising powers independently, and alignment with the best international professional and regulatory standard provide that assurance. They give multinational biotech and health research institutions and companies the confidence to site their operations here. Second, institutions and talent. Our two medical schools are among global top 25, and soon, a third medical school will join this ecosystem. It will expand clinical research and talent training capacity at precisely the moment when global demand for medical expertise is at an all-time high. Meanwhile, our talent admission schemes continue to welcome talent from all over the world. Hong Kong with its excellent law and order, connectivity, quality education, diverse cultural offering and natural scenery— remains one of the most compelling cities to build a career. Third, capital. The Hong Kong Stock Exchange is a premier global venue for biotech listings. Currently, over 80 biotech firms have listed here, with a total market capitalisation of HK$120 billion. Beyond public markets, Hong Kong hosts the second-largest private equity pool in Asia only after the Mainland, plus a very vibrant venture capital and patient capital ecosystem. The full spectrum of funding for basic research, outcomes translation, clinical trials to commercial scale-up is available right here. Fourth, the Greater Bay Area — an innovation corridor encompassing top research universities, vibrant startups, world-leading technology firms and advanced manufacturing. For a medical innovator, nowhere else puts lab bench, patient bedside and factory floor within one-hour drive. And it is not just physical distance, but the highest collaborative efficiency. It is no surprise that five of the world's top 10 pharmaceutical companies have chosen Hong Kong as the base for their regional R&D operations. Policy in motion And we are working to set things in greater motion. Because our ambition is for Hong Kong to be the beating heart of this global medical innovation ecosystem. First, the Hong Kong Centre for Medical Products Regulation will be established this year, enabling Hong Kong to conduct primary evaluation of new drugs and medical devices. This will materially accelerate the path to market for innovative therapies. Second, in the Hetao Co-operation Zone (Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone), we are enabling cross-boundary flow of biological samples and clinical data — building the architecture for data-intensive, cross-boundary medical research. Clinical trial institutions from both the Mainland and overseas are already operating there. We are working to secure the establishment of branch of Mainland regulatory authority in the Zone, to facilitate quicker access to the Chinese Mainland market. Third, the new Committee on AI+ and Industry Development Strategy announced in the Budget this year will bring together experts from academia, business and our science and technology parks to chart a roadmap for integration of AI across industries, with biotech and embodied intelligence as initial priorities. The above three initiatives point to a single goal: to make Hong Kong one of the world's premier launch pad for new therapies. Two thoughts Ladies and gentlemen, amid all this momentum, the temptation is to focus entirely on what is possible. But the more important question is what is purposeful. Allow me to share two convictions that stay with me — and I hope they will resonate with you too. Preparedness A few years ago, the COVID-19 pandemic swept across the world, and communities everywhere endured several extremely difficult years. That experience underscored the imperative of preparedness. I note that this Forum includes sessions on vaccine platforms and preventive strategies. I am confident these discussions will deepen our thinking and contribute to international efforts in this field. Inclusion Today, more than four billion people worldwide still lack access to essential healthcare. This is not just a market gap for investment; it is a test of our civilisation, and a collective responsibility of our time, and I appeal to you to lead boldly. Concluding remarks Ladies and gentlemen, thirty years ago, the founders of this Forum believed that knowledge shared across borders could transform the practice of medicine. Today, that conviction matters more than ever. Artificial intelligence can detect patterns across vast patient datasets in moments; gene therapies may rewrite the code of life. Yet the value of every breakthrough begs a single question: does it improve the individual in our care? The true frontier of medicine is not the laboratory bench. It is the moment when a patient realises that the innovation we speak of is real, tangible, and within their reach. Looking ahead, Hong Kong must be the place where the velocity of discovery is matched by the breadth of its reach – where advances celebrated in this hall translate into better outcomes in clinics and homes across the world. May we continue to build bridges with knowledge and lay foundations with compassion, so that every ordinary person can feel, with certainty and comfort, that medical progress is brought into being for their sake. That is the well-being we pursue. That trust is yours to sustain. I wish you a most stimulating and productive two days. Thank you very much. Ends/Saturday, May 16, 2026 Issued at HKT 15:17 NNNN"}, {"title": "Speech by FS at TNC's Asia Pacific Council's 25th Anniversary Dinner (15.5.2026)", "link": "https://www.info.gov.hk/gia/general/202605/15/P2026051500686.htm", "date": "15.5.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Nature Conservancy (TNC)'s Asia Pacific Council's 25th Anniversary Dinner today (May 15): Dr Fred Hu (Global Board Member and Asia Pacific Council's Co-Chair of TNC) and Mrs Abby Hu, Mrs Jennifer Morris (Chief Executive Officer of TNC), Mr George Tahija (Asia Pacific Council's Co-Chair of TNC), distinguished guests, ladies and gentlemen, Good evening. Let me begin with an observation. Some people say that finance and nature make strange bedfellows. I have never quite understood why. Both punish short-termism, both reward diversification, and both can unravel spectacularly when systemic risks are ignored. And perhaps that is precisely the point. The challenges before us do not fall neatly into separate sectors, just as ecosystems do not exist in isolation. Climate, biodiversity, communities, commerce and capital are all connected. To protect nature, we must bring together people and institutions that may once have seemed unlikely partners. Twenty-five years ago, TNC's Asia Pacific Council did exactly that. It brought together an extraordinary community of leaders from business, science, philanthropy and policy, united by the conviction that nature is the foundation of our future. Since then, you have helped protect vast landscapes and seascapes across the region, advanced community-based conservation, and built a network of cross-sector and cross-boundary partnerships that have multiplied your impact. Tonight, we celebrate that legacy - and the work that lies ahead. Because the urgency has only grown. Climate change and extreme weather events are intensifying, and biodiversity loss is only compounding the crisis further. Our task is to turn that vicious cycle into a virtuous one: a model of sustainable development in which economic progress, ecological health, and social well-being advance together and reinforce one another. For this vision to materialise, commitment to environmental goals must be the starting point. Hong Kong remains steadfast in our commitment to achieving carbon neutrality by 2050. We are equally committed to protecting biodiversity. At the end of last year, we released an updated Biodiversity Strategy and Action Plan 2035. Central to it is the principle of \"mainstreaming\". That means treating biodiversity not as a standalone issue, but as a consideration built into the decision-making process in infrastructure, urban planning, housing, transport and many other areas of public policy. But we also firmly believe in the value and opportunities that green transition creates. The business case is compelling. Governments are raising green standards. Consumers, especially younger generations, are demanding greener products and services. Companies that lead on sustainability will win markets, not just goodwill. This momentum is already driving new technologies, industries, and value chains. Consider EVs (electric vehicles), wind turbines, and solar installations, which have become flagship exports of our country. AI holds enormous potential, too. According to the International Energy Agency, existing AI tools could optimise industrial processes to save more energy than Mexico consumes in an entire year. Green transition is therefore one of the greatest investment opportunities of our time. Green finance and impact investing are gaining momentum worldwide, as investors increasingly seek growth with purpose. Hong Kong is uniquely placed to connect the dots. As an international financial centre, we go beyond the volume of green financing. We are constantly innovating in how capital is mobilised for the green transition. Digital green bonds, insurance-linked securities such as catastrophe bonds, and taxonomy frameworks for transition financing are recent examples of how we channel more capital into green projects. We are also a growing innovation and technology hub. By bringing together academia, business, talent and capital, we are building an ecosystem that can nurture and scale green solutions - from AI-powered storm prediction to sustainable aviation fuel and coral reef restoration. Ladies and gentlemen, no single government, sector or institution can deliver this green vision alone. It demands a truly multi-stakeholder effort. It calls for deeper collaboration across sectors and borders. That is why the work of partners like TNC matters so deeply. We look to you to keep doing what you do best: bringing leaders together, and turning shared responsibility into shared action. Yet, the best policies and partnerships ultimately rest on something deeper: the human heart, and the values we pass from one generation to another. Those values are not shaped by words alone, but by wonder, memory, and a felt connection to the living world around us. A child who has marvelled at a coral reef, caught sight of a black-faced spoonbill on a mudflat, or simply stood quietly in a forest does not need to be told that nature matters. That sense of wonder is where stewardship begins. Our children will care for what they have come to love. Our task is to help them form that bond. Allow me to close with the words of Sir David Attenborough, the renowned natural historian and broadcaster who celebrated his 100th birthday just last week. He said, \"…[N]o species has ever had such wholesale control over everything on Earth, living or dead, as we now have… In our hands now lies not only our own future, but that of all other living creatures with whom we share the Earth.\" The message could not be clearer: our futures are bound together, and so too is our responsibility to act. To TNC's Asia Pacific Council: thank you for 25 years of turning that responsibility into action. Here's to the next 25. Thank you very much. Ends/Friday, May 15, 2026 Issued at HKT 20:25 NNNN"}, {"title": "Speech by FS at PolyU DBA 30th Anniversary Dinner (14.5.2026)", "link": "https://www.info.gov.hk/gia/general/202605/14/P2026051400728.htm", "date": "14.5.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Polytechnic University (PolyU) Doctor of Business Administration (DBA) 30th Anniversary Dinner today (May 14): Professor Jinguang Teng (President of PolyU, Professor Teng Jinguang), Professor Edwin Cheng (Dean of the Faculty of Business of PolyU), DBA alumni and students, distinguished guests, ladies and gentlemen, Good evening. It is a pleasure to be here tonight to celebrate the 30th anniversary of PolyU's DBA programme. Founded in 1996, it was the first of its kind in Hong Kong - and it remains to this day the largest DBA community in this city and across the Mainland. Building a community of scholar-leaders over three decades is no small feat. My warmest congratulations to everyone who has contributed to this achievement. A DBA programme is an endeavour to bridge rigorous research with real-world practice, translating ideas into decisions that move businesses and societies forward. Tonight's theme - \"From Ideas to Impact\" - perfectly captures the spirit that has defined this programme from the very beginning. I am particularly pleased to see that tonight's panel will explore how AI and Web3 are turning ideas into business and societal impact, with a focus spanning supply chain management, digital asset infrastructure and robotics. The breadth of that agenda reflects the true scope of the transformation before us - and it is a transformation we must confront with the utmost attention. Technology and business transformation Let's take a moment to reflect on how technology and innovation have transformed business and commerce. Back to 1996 - the year this programme was born. The Internet was in its infancy. A mobile phone was the size of a water bottle. Data was a scarce resource. Business strategy was often about optimising within known boundaries: how to produce more efficiently, distribute more widely, price more competitively. What we have witnessed since then is not incremental improvement, but the rewriting of the grammar of commerce. Consider these: we used to buy a CD; now we stream. We used to purchase software; now we subscribe. We used to own the things we relied on; but increasingly, ownership has evolved into a greater emphasis on getting access. Products have become platforms. And value is no longer created solely within individual companies; it emerges across ecosystems, where capital, talent and data flow across organisational boundaries supported by interoperable systems, digitalisation and sophisticated logistics. Profound challenges of AI era Today, we have entered the age of AI - a moment more far-reaching and more disruptive than anything that came before. The challenge is no longer simply about adopting new tools. It is about recalibrating the way we think - and doing so with urgency. First, AI is compressing the distance between insight and action. A strategist might once have spent months analysing market data before moving, but an AI agent today monitors market sentiment in real time, simulates scenarios and recommends courses of action or even has them executed - all at once. The bottleneck is no longer information, but our ability to direct machines with precision, and to verify and act on what they present. Second, AI is redrawing the architecture of value chains. Middle layers that were justified by their ability to co-ordinate and process, are being compressed. At the same time, new intermediary roles are emerging - data curators, model trainers, compliance architects. I suspect many of you are quietly asking yourselves: in the new organisational structures that are taking shape, where do I stand? Will I still sit at a node that adds value? For Hong Kong, these shifts carry particular weight. As an international financial centre and a super connector, our competitive edge has long rested on intermediation - in capital, information, markets and talent. AI will challenge each of these roles. But it also gives us the opportunity to reinvent ourselves and move forward. Opportunities we must seize together This brings me to the core message I want to leave with you tonight. The opportunities ahead are enormous - but they will not materialise on their own. They require purposeful, co-ordinated action among the Government, business and academia. I want to highlight three areas where our collective leadership can make a decisive difference. First, the digital workforce. The conversation about AI and jobs tends to focus on displacement - on what AI will take away. But that is only one side of the story. The more important question is what AI makes possible. Businesses need digital employees to scale what they do. Employees need digital assistants to keep them focused on what they do best. AI agents, if deployed well, can become a genuine extension of both. They can absorb the repetitive, the routine and the administrative, so that human energy can be directed to where it matters most: judgement, relationships and creative problem-solving. But none of this works if the gains stay at the top. When AI doubles what a team can produce, the people who made that possible need to feel it - in their salaries, in their roles, in their prospects. That is how a virtuous cycle begins. Companies that share the gains through new skills, new responsibilities and better rewards will not just outperform their peers. They will be the ones that attract and keep the best people. Second, the human-machine relationship. In the future, much of the information that companies produce - press releases, annual reports, regulatory filings, even research papers - may be written, processed and read primarily by AI systems, with humans as the secondary audience. When machines become the primary intermediaries of information between organisations, what matters is not just what you communicate, but whether your systems can communicate with theirs. Interoperability becomes the new baseline requirement. But alongside that shift comes an equally important truth: distinctly human skills - curation, verification, ethical judgement - become more valuable, not less, precisely because they are what machines cannot be trusted to do alone. The question is whether our institutions, our training systems and our own habits can adapt quickly enough to ride on this development. Third, AI literacy. We must treat AI literacy as a societal imperative. In this year's Budget, we outlined significant investment in computing infrastructure, the AI+ strategy and providing AI Training for All. But government effort alone will not be enough. We need a coalition of employers, educational institutions, professional bodies, business chambers and trade unions to build AI capability at every level of the workforce. The history of technology tells us that the fruits of innovation tend to concentrate before they spread - accruing first to innovators and those who own capital, and reaching workers and communities only much later. The steam era followed that pattern. So did the early Internet. AI presents us with a rare opportunity to do better because it can empower even the ordinary people. When a small business owner can deploy a digital agent to handle customer enquiries around the clock; when a nurse can spend less time on paperwork and more time at the bedside; when a teacher can tailor lessons to every student in the classroom - that is the moment productivity becomes prosperity. That is the transformation towards which we should build. Concluding remarks Ladies and gentlemen, 30 years ago, PolyU had the foresight to create a programme that would turn experienced executives into scholar-leaders - people who think critically, research rigorously and act decisively. That foresight is worth more today than it has ever been. The world does not lack ideas. What it often needs is the capacity to turn ideas into impact - to move from concept to execution, from pilot to scale, and from individual achievement to collective progress. Tonight is therefore both a celebration and a call to action. A celebration of what this programme and its remarkable community have built across three decades; and a call to all of us to ensure that the transformation underway is pursued with ambition, guided by responsibility and designed to benefit the many, not just the few. That is the future worth building - together. Thank you very much. Ends/Thursday, May 14, 2026 Issued at HKT 20:00 NNNN"}, {"title": "Speech by FS at CUHK EMBA Annual Conference (9.5.2026)", "link": "https://www.info.gov.hk/gia/general/202605/09/P2026050900693.htm", "date": "9.5.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the CUHK EMBA Annual Conference today (May 9): Professor Dennis Lo (Vice-Chancellor and President, the Chinese University of Hong Kong (CUHK)), Professor Lin Zhou (Dean, CUHK Business School), Macy (Chairperson of Organizing Committee, Ms Macy Chan), Michael (Chairperson of Organizing Committee, Mr Michael Chan), CUHK EMBA alumni and students, business leaders, distinguished guests and friends, Good evening. Addressing a room full of Executive MBA students and graduates is both an honour and a privilege. There is a particular kind of ambition in this room — one that is not content with success alone, but driven to understand it more deeply, in the belief that better ideas lead to greater impact. That kind of commitment — to learning, to growth, to asking harder questions — is precisely what today's conversation is about. The theme of this conference, which focuses on innovation and agile leadership, could not be more timely. Most of us here have lived through the Internet age and the smartphone revolution, which made communication faster and more seamless than anyone had imagined. Today, the rise of AI places us at a more fundamental tipping point. Technology is not merely changing the answers — it is redefining the questions themselves. Consider what is already within reach. An AI assistant can learn your preferences, curate a personalised shortlist, and simply ask for your confirmation. We should even ask whether the smartphone and the search engine will remain our primary gateways to the digital world, or whether something altogether new is already taking shape. To draw an analogy, the power of technology does not lie in drawing the old map with greater precision. It lies in revealing how much of that map remains uncharted — and in showing us that entirely new maps, with new co-ordinates, are being drawn. This redefinition is unfolding across three dimensions simultaneously. First, the redefinition of products. Products are no longer discrete, standalone objects. A smart car is a vehicle, but also a mobile platform for data. An insurance policy can be a contract, but equally a dynamic reflection of health data. Innovation today is born from cross-sector convergence and continuous evolution. Second, the redefinition of services. Services are no longer delivered solely by enterprises. They emerge from collaborative networks of people and AI. But the more profound shift is in what customers now expect. In the past, good service meant reaching the right person quickly. Today, customers expect a solution that anticipates their needs before articulating them. This requires a new architecture of service delivery: human and machine, with AI handling the scale, the speed, and the personalisation that no human team alone could sustain. Third, and most importantly, the redefinition of business models. In the past, we sought optimal solutions within established frameworks — when demand rose, we expanded capacity; when service needs grew, we opened more branches. Technology invites us to break out of those frameworks entirely. Intelligent manufacturing means that \"economies of scale\" is no longer the only answer; flexible supply chains have made customised, on-demand production the new normal. These three redefinitions are opening a commercial frontier unlike anything we have seen before. But if the benefits of technology accrue only to a small circle, its power remains fundamentally constrained. This brings me to the second message I want to leave with you today: inclusivity. Inclusivity is not charity. Yet it is the smartest business strategy available. The unmet needs of the broader public represent the largest and most underserved market opportunity in existence. When you make quality healthcare, education and financial services accessible and affordable to ordinary residents, you are not serving a group in need of handouts — you are unlocking a vast market that traditional business models have consistently overlooked. Hong Kong has a distinctive role to play here. We can be a co-architect of standards, a hub for capital, and a bridge between innovation and real-world deployment — from clinical validation of smart healthcare, to green technology financing, to regulatory sandboxes for fintech. Our contribution draws not only on institutional strengths and international networks, but on our genuine commitment to broad-based participation. Yet inclusive products and services are only the first step. The deeper dimension is empowerment. History reminds us that the dividends of technological revolution need to be actively guided to reach the many. In the age of steam, and again in the Internet era, early gains concentrated among capital owners and top-tier talent. But today we have the opportunity to write a different story. AI, as an amplifier of human capability, is already enabling what was previously unimaginable: a solo entrepreneur, with the right tools and the right vision, can build a unicorn. In other words, the unit of competitive advantage is shifting — from the size of your team to the skill with which you orchestrate your tools. Our mission should be to make that shift available to everyone. To turn individual readiness into collective prosperity, and to ensure that the productivity gains of AI flow broadly across the society. This is precisely why, in this year's Budget, I placed such emphasis on the \"AI Training for All\" initiative. We are not trying to turn everyone into an engineer. We are ensuring that workers, managers, SME (small and medium-sized enterprise) owners, and ordinary residents become capable collaborators with AI: people who can access it, use it effectively, and put it to work as their assistant. That may sound ambitious, but consider this: if AI can one day be as intuitive as the smartphone, then mass adoption is not difficult to imagine at all. Just as computers once migrated from specialist facilities into offices and homes, AI will find its way into everyone's daily work and life. For business leaders, it may be tempting to think of AI as \"digital employee\" that can replace existing workers. But think of a different framing: equipping your workforce with powerful digital assistants can achieve productivity gains, while also freeing your people to do what humans do best — create, imagine and innovate. Companies that take those extra steps, and think those extra moves ahead, will find that an empowered workforce is also a more innovative one. All in all, the power of technology must ultimately be measured by its contribution to inclusive growth. And inclusive growth, in the end, depends on, yes, commercial acumen — but also empathy, compassion, and the conviction that a rising tide should lift all boats. I can see that those qualities live in this room. I will close with this thought. Someone once joked that economists know the price of everything and the value of nothing. With AI, let us never fall into the same trap — in our race to price every efficiency gain, let us not lose sight of the deeper value we are trying to create: a society where the fruits of innovation are broadly shared, and where technology lifts not just the fortunate few, but everyone willing to reach for it. So here is my ask: let us grow the pie together. And make sure we cut it well. Thank you very much. Ends/Saturday, May 9, 2026 Issued at HKT 19:29 NNNN"}, {"title": "Speech by FS at LME Asia Metals Seminar 2026 (7.5.2026)", "link": "https://www.info.gov.hk/gia/general/202605/07/P2026050700307.htm", "date": "7.5.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the LME Asia Metals Seminar 2026 today (May 7): ​ Carlson (Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX), Mr Carlson Tong), Bonnie (Chief Executive Officer of the HKEX, Ms Bonnie Chan), Matthew (Chief Executive Officer of the London Metal Exchange (LME), Mr Matthew Chamberlain), distinguished guests, ladies and gentlemen, Good morning. It is a pleasure to join you once again at the LME Asia Metals Seminar. My thanks go to HKEX and the LME for hosting this annual event. To international visitors who have travelled from around the world, a very warm welcome. Your presence testifies to Hong Kong's pivotal role as a global financial and trading hub, and increasingly, as an important member of the global metals community. A changing landscape of metals When we met here last year, I spoke about the strong momentum in global non-ferrous metals trade. Over the past year, that momentum has not only continued, but strengthened. In 2025, global LME trading volumes averaged around 760 000 lots a day, an 8 per cent increase over the record set in 2024. In 2026, the figure so far has further risen to close to 900 000 lots per day. Driving the structural demand are forces we all know well: the global push for AI and data infrastructure, electric vehicles, renewable energy systems and advanced manufacturing, for which non-ferrous metals are essential input materials. Indeed, as technological innovation accelerates across applications, so will the demand for the metals that make them possible. But the world we face today has grown more complex and, sadly, more uncertain and volatile. Over the past few years, tariffs, conflicts and supply chain shocks have fundamentally reshaped global trade patterns. Trade flows are being rerouted. The geography of metals trade is being reconfigured in ways that are likely to endure. The ongoing war in the Middle East has added further pressure to the metals trade. Many base metals, such as aluminium, copper and zinc, are seeing heightened volatility as shipping routes are disrupted, and market participants price in geopolitical risk. The implications of these developments are clear: reliable, stable supply chains for non-ferrous metals have become a strategic imperative. Hong Kong's strategic position It is against this backdrop that Hong Kong's role as a trading hub for these metals takes on an even greater significance and a deeper strategic purpose. Global trade is becoming more regionalised. Buyers increasingly value resilience over efficiency alone. At the same time, China and ASEAN (Association of Southeast Asian Nations) countries are deepening industrial integration and supply chain collaboration. In this environment, the region needs a platform it can trust: for trading, for price discovery, and for getting deals done. Our country's 15th Five-Year Plan, for the first time, explicitly supports Hong Kong to build a commodity trading ecosystem. This is a mandate that Hong Kong can - and should - become: a commodity trading hub that connects the Chinese Mainland and regional supply chains with the international market. Hong Kong's unique business proposition rests on two important foundations under the \"one country, two systems\" framework. First, Hong Kong is a free port - with zero tariffs, super efficient customs, unrestricted movement of goods and capital, as well as world-class logistics and maritime connectivity. As geopolitical tensions rise and global supply chains are being reconfigured, our role as a regional re-export hub is becoming even more important. Last year, despite the tariff war, Hong Kong's total goods exports went up by more than 15 per cent year-on-year. Particularly noteworthy is the performance of non-ferrous metals exports, which rose by nearly 35 per cent last year. That strong momentum has continued. In the first quarter of this year, such exports grew by 170 per cent year on year. Second, Hong Kong has exceptional institutional strengths and deep capabilities in financial and professional services. We maintain full alignment with international standards, the common law system, and independent dispute resolution mechanisms. And we offer a full range of services, from trade finance and marine insurance to derivatives and risk management tools. The depth of this ecosystem is what can elevate a trading and logistics hub into a trading, logistics and pricing centre for metals. What we are building Indeed, over the past year, we have moved decisively to realise our strategic vision. We are building tangible infrastructure and offering attractive incentives. We have established a Strategic Committee on Commodities, which I chair. The Committee is developing a long-term strategy covering physical trade, financial transactions, logistics, and connectivity with the Chinese Mainland. It takes a whole-of-ecosystem approach that goes well beyond any single initiative. Our warehousing collaboration with the LME is an important part of this effort. A strong physical market, supported by ample delivery points, is what anchors credible benchmark prices. As Bonnie mentioned earlier, since the LME approved Hong Kong as a delivery point last year, our network has rapidly grown to 15 warehouses. More than 24 000 tonnes of LME metals are already on warrant. We know this network must continue to expand, given the sheer and growing scale of trading activities in this region. A strong physical delivery network does more than improve supply reliability for regional buyers. It also strengthens the price discovery process by bringing regional demand more directly into the LME’' pricing and settlement infrastructure. In addition, it helps reduce the premium that regional buyers have historically paid because of longer delivery distances from other Asian delivery points. On the legal and tax front, we will introduce legislation in the first half of this year to provide a 50 per cent profits tax concession for eligible commodity trading activities. This will make Hong Kong more cost competitive when compared with other leading global commodity hubs. Gold deserves some mention here, because it goes hand in hand with our broader strategy to develop commodity trading. The centre of gravity in gold trading is shifting eastward, as Asia accounts for around 60 per cent of the world's annual gold demand. To better capture these opportunities, we are building a central clearing system for gold, with trial operations scheduled for this year. Meanwhile, the Hong Kong Airport Authority is fast expanding the gold storage capacity, with a target of exceeding 2 000 tonnes within three years. Last month, Hong Kong also listed a new gold ETF (exchange-traded fund) with physical redemption options. As the global commodities market continues to grow in both scale and complexity, the need for efficient and specialised dispute resolution mechanisms is becoming ever more pressing. We believe Hong Kong, as an international dispute resolution centre, can make a meaningful contribution in this regard. I am pleased to let you know that the HKSAR (Hong Kong Special Administrative Region) Government and the International Organization for Mediation, or the IOMed, are exploring the feasibility of establishing a special panel of mediators for commodities market disputes under the IOMed. This will provide a neutral, expert-led mediation mechanism for disputes arising across the commodities value chain, covering upstream mining and production, midstream trading and clearing, as well as downstream warehousing and delivery. This initiative complements our strategy to develop Hong Kong into a leading gold and commodities trading hub, and helps facilitate cross-border transactions, mitigate risks and strengthen market confidence among global market participants. Future directions Looking ahead, the prospect for Hong Kong's metals business is highly promising. In this year's Budget, I set out the Finance+ strategy to foster greater synergy between our financial services sector and other key industries. Metals is one of the most compelling areas for this application. There are several directions with particularly strong potential. First, building a full financial lifecycle for metals. Our ambition is for Hong Kong to be a place where every major financial need of a commodity business can be satisfied: from commodity-backed finance and derivatives, to marine and trade insurance, as well as sustainability-linked instruments. We are also pleased to see more metals and minerals companies establishing in Hong Kong. We welcome them to list on our stock exchange to access both international and Mainland capital. They are also welcome to manage their global operations and corporate treasury activities from this city. Last year, a mining company operating Kazakhstan's largest tungsten mine did a concurrent listing on both our stock exchange and the Astana International Exchange. It was the first of its kind. We are sure more will follow. Second, promoting the use of RMB (Renminbi) in commodity pricing. China now accounts for over half of global base metal consumption. Its continued investments in new energy, AI and the tech sector will certainly sustain this demand for years to come. Looking ahead, there is clear room for more RMB-denominated commodity products in Hong Kong for both Mainland and international participants. This will help them manage their currency risks, and give China a more proportionate voice in global commodity benchmark pricing. Third, enhancing market connectivity. For metals users across the region, deeper connectivity means greater liquidity, sharper price discovery and lower hedging costs. We will actively explore mutual market access in metals between Hong Kong and key markets around the world. This could include the cross listing or mutual listing of products such as metals ETFs and other exchange-traded instruments. Just as Stock Connect and Bond Connect have transformed Hong Kong's equity and fixed income markets, there is clear potential to explore similar \"Connect\" arrangements in commodities. This is a longer-term project, but one that we are working towards with our partners on the Chinese Mainland. Concluding remarks Ladies and gentlemen, let me conclude with a thought about purpose. If one word sums up the changes driving the world today, it is \"innovation\". The AI era is reshaping economies and industries through advances in technology, products, business models and applications. In that process, metals are coming back into sharper focus as the building blocks of the real economy. They are no longer seen only as industrial inputs, but increasingly as part of the technologies, products and investment themes that people can readily relate to. Developing a more vibrant metals ecosystem here in China and Asia, where production and supply chains are closely interlinked, will be vital not only to supporting more stable economic growth across our region and the world, but also to creating new opportunities for industrial development, investment, and financial market development. Hong Kong has the infrastructure, the institutions, the connections, the capital, the talent and now the national mandate to serve that purpose well. We are committed to doing so, in partnership with the LME, HKEX, and all of you here today. On that note, I wish you all productive discussions at this seminar and every success in the year ahead. Thank you very much. Ends/Thursday, May 7, 2026 Issued at HKT 11:38 NNNN"}, {"title": "Speech by FS at CUHK Business School Greater Bay Area CEO Forum (29.4.2026)", "link": "https://www.info.gov.hk/gia/general/202604/29/P2026042900699.htm", "date": "29.4.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the CUHK Business School Greater Bay Area CEO Forum today (April 29): Professor Dennis Lo (Vice-Chancellor and President, the Chinese University of Hong Kong (CUHK)), Professor Lin Zhou (Dean, CUHK Business School), distinguished alumni, ladies and gentleman, Good Morning. It is a pleasure to join you today at the CUHK Business School inaugural Greater Bay Area CEO Forum. This is a valuable opportunity to discuss an important topic: how to drive the Greater Bay Area's next wave of growth. The world of change We are living in a world that is changing fundamentally. Geopolitical tensions and technological competition are intensifying. Unilateralism and protectionism are on the rise. Consequently, supply chains, industry base, innovation networks are being reconfigured. Capital flows are shifting and asset allocation is being recalibrated. Instability, volatility and uncertainty have become the defining features of our time. At such a historic time, the role of our country, China, is becoming more prominent, serving as a stabilising force in the global arena and a powerful engine of growth. It is advancing high-quality development with clear directions and strong strategic resolve. This year marks the beginning of the National 15th Five-Year Plan period. The Plan explicitly supports Hong Kong in better integrating into and serving the country’s overall development. We have been entrusted with the roles of \"ten centres\" and \"two hubs\", plus building a vibrant ecosystem of commodity trading. Under the leadership of the Chief Executive, the HKSAR Government is moving ahead at full speed with Hong Kong's first five-year plan. The National 15th Five-Year Plan There are three key directions in the National 15th Five-Year Plan that deserve our particular attention. The first is building a modernised industrial system and strengthening self-reliance in science and technology. At a time of rapid technological competition and industrial transformation, our country is placing strong emphasis on closer integration between technological innovation and industrial development. This transformation is being driven by artificial intelligence, digitalisation, green transition and greater cross-industry integration. After years of steady progress, our country is now at the global forefront in innovation and technology. Two simple facts illustrate this well. China has the world's most complete industrial system. It is also home to the largest number of global innovation clusters. In the years ahead, we can expect many more major breakthroughs from our country in frontier fields such as AI, quantum computing, semiconductors, biotechnology, communications and new energy. We can also expect breakthroughs in critical bottlenecks that have constrained technological development in the past. For these efforts to succeed, a strong and complete innovation chain is essential. This chain will need to extend from research and development to commercialisation and application, and be supported by a comprehensive ecosystem of finance, professional services, education and talent development. This highlights the important role Hong Kong can play as an international financial and innovation centre, and an international talent hub. The second direction in the 15th Five-Year Plan is to expand the domestic market and pursue high-level two-way opening up. The key phrase here is \"two-way\". For many Mainland enterprises, in the face of geoeconomic pressure, their supply chains and manufacturing bases need to be diversified. Going global is no longer optional. It is essential. At home, domestic demand is equally crucial to sustaining high-quality growth, as the country evolves from a major manufacturing power into a major consumer market as well. This means that more high-quality goods and services from around the world will gain broader access to the Mainland market. At the same time, they need to adapt to evolving consumer behaviour. The market is shifting away from mass production toward a flexible, demand-driven production model, defined by more personalised, diverse and rapidly changing demand. Against this backdrop, domestic demand on the Mainland will continue to expand in both scale and quality. In this regard, Hong Kong's role as a gateway for trade and investment between the Mainland and the rest of the world will become even more important. The third direction, which is closely linked to today's theme, is co-ordinated regional development. Today, competition is no longer between individual cities, but increasingly among regions. To prevail, city clusters must leverage their respective strengths and comparative advantages. The Greater Bay Area is one of the three major national engines of growth, and it has a set of distinctive competitive strengths. We all know the basic facts. The GBA (Guangdong-Hong Kong-Macao Greater Bay Area) is already a major economy on its own with a GDP (Gross Domestic Product) roughly equivalent to Italy's. Its per capita GDP, measured in purchasing power terms, has exceeded US$40,000. But the GBA is much more than a large market. It is a dynamic and diversified economic powerhouse. The region has strong research and development capabilities, innovative power, advanced manufacturing capacity, complete industrial chains and vast real-world application scenarios. This is one reason why there is so much optimism about the region's development potential in AI and health science. At the same time, the GBA benefits from Hong Kong's unique connectivity and institutional strengths, especially its highly respected legal system, deep pools of global capital and talent, alignment with international standards and practices, and world-class professional services. Indeed, the GBA presents a value proposition that is difficult to replicate anywhere else in the world. Some say it combines the strengths of both the San Francisco Bay Area and the New York Bay Area. To that, I would add safety, security and unparalleled quality of life. One key focus in the GBA's future development is alignment in rules and standards. For us, this is not only about regional integration. It is also about bridging national standards and international standards, so that Mainland products, services and enterprises can gain broader recognition and respect in the global arena. We are advancing this work on a number of fronts, such as construction, transportation, food quality and medical care. Besides, we are contributing to the development of the Greater Bay Area standards. Our future priorities Looking ahead, in the interest of time, let me highlight three key areas of our focus over the coming few years. The first is \"Finance+\". Hong Kong is an international financial centre. Many people used to see this mainly as an efficient platform for fundraising and financing. Of course, that function remains vital. But we can do much more than that. For example, building a modernised industrial system requires more than a vibrant IPO (initial public offering) market. It requires an ecosystem that can provide a full range of financial options, ranging from angel investment to patient capital, together with professional and high value-added services. For example, in the field of technology and innovation, IP financing enables firms to use their intangible assets as collateral and turn them into working capital. This helps meet the needs of innovative enterprises, especially smaller ones that are rich in IP but lack tangible assets. In short, \"Finance+\" is about leveraging the power of finance to fast-track every stage of innovation, technology and industrial development. It is about using finance to power the region's innovation economy. The second area is \"AI+\". AI is becoming a foundational technology across every sector. Hong Kong is well placed to seize the opportunities it presents. We combine world-class research capabilities with international application scenarios. That is why, as announced in this year's Budget, we will establish the Committee on AI+ and Industry Development Strategy. Its purpose is to promote closer collaboration across sectors and accelerate practical applications in AI. Talent is the cornerstone of this effort. Our goal is not only to train professionals and attract specialists. We aim to strengthen AI capability across society - among students, professionals, entrepreneurs and the wider public. In this way, the community as a whole will be able to better grasp the opportunities of the digital intelligence era. The third area of focus is to strengthen Hong Kong's role as a supply chain management and high value-added services hub. Geopolitics presents both challenges and opportunities for Hong Kong as a trading centre. As global industrial and supply chains restructure, and global demand linked to the AI sector rises, Hong Kong's export rose by more than 15 per cent in the past year despite the tariff war. Global supply chains will likely grow more regionalised, more diversified and more risk-conscious. And therefore Hong Kong's value as an agile super connector and super value-adder becomes even more evident. To Mainland enterprises going global, we are the showroom, the connector in standards, a platform for funding, and a trusted partner in navigating the international market. All these developments will create strong demand for our financing, logistics, legal, accounting, consulting and other professional services. Closing remarks Ladies and gentlemen, the GBA is no doubt one of the most promising regions in the world for investment, innovation and business growth. And Hong Kong stands at the heart of this opportunity. To realise our full potential, we need strong public-private collaboration. I therefore invite you to bring your market insight, entrepreneurial energy and valuable experience to help shape Hong Kong's future. Your contributions to the formulation of Hong Kong's first five-year plan would be very much valued. Together, I am confident that we can begin a new chapter of growth for Hong Kong and the Greater Bay Area, creating broader opportunities for the generations to come. Thank you very much. Ends/Wednesday, April 29, 2026 Issued at HKT 17:08 NNNN"}, {"title": "Speech by FS at South African Freedom Day Reception 2026 (23.4.2026)", "link": "https://www.info.gov.hk/gia/general/202604/23/P2026042300751.htm", "date": "23.4.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the South African Freedom Day Reception 2026 today (April 23): Consul General Mogono (Consul General of South Africa in Hong Kong, Mr Mojalefa Mogono), Deputy Commissioner Hua You (Deputy Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the Hong Kong Special Administrative Region), members of the diplomatic community in Hong Kong, distinguished guests, ladies and gentlemen, It is a great pleasure to join you this evening to celebrate South Africa's Freedom Day. South Africa and our country, China, are close partners, sharing a long-standing and resilient relationship. Since the establishment of diplomatic relations 28 years ago, our ties have continued to deepen, and now grown into an All-round Strategic Cooperative Partnership in the New Era. Our two countries work closely together in the international arena, through platforms such as the G20, BRICS and the Belt and Road Initiative. As important members of the Global South, we share a commitment to mutual benefit, win-win co-operation, shared prosperity, and respect for each other's chosen path of development. In a world of uncertainty, instability and change, that spirit of mutual respect and solidarity matters greatly. This is a world in profound transformation. Geopolitical tensions remain high. Conflicts persist. Globalisation is facing headwinds. Technological advancement and green transition redefine development models and competitiveness. But change also creates opportunity. Technological innovations are opening up extraordinary new possibilities. Artificial intelligence and other frontier technologies are reshaping industries, economies and the way we live, work and do business. Amid these changes, China remains a stabilising force in the global arena and a powerful engine of growth. This year marks the beginning of our country's 15th Five-Year Plan period. Innovation, technological breakthroughs, green transformation, and high-level opening up will be central to this new chapter of development. Hong Kong will continue to play an instrumental role in this process. As a free port and an international trade, financial and business hub, we are uniquely placed to connect our country with the rest of the world. In particular, as more Mainland enterprises expand to the Global South, including the African continent, Hong Kong supports them with a deep capital market, comprehensive funding options and a full range of professional services. We will continue to serve as a gateway for foreign enterprises and investors to gain greater access to the vast Mainland market. Our role is clear, and the connectivity is in both directions, inbound and outbound. We connect capital with opportunities, businesses with markets, and partners with long-term growth. In many respects, Hong Kong and South Africa are natural partners. Hong Kong is the gateway to China and Asia. South Africa is the gateway to the African continent. The markets are different, but the role is similar. We are both connectors that create potential for deeper collaboration and shared progress. Hong Kong's capital market is well positioned to South African businesses' growth and international expansion. We bring capital, businesses and opportunities together efficiently and effectively. For example, we welcome South African companies to list on our stock exchange to access capital in this part of the world. Besides, we stand ready to explore broader financial connectivity with your country, including dual listing of enterprises and ETPs (exchange-traded products), as well as closer cross-border regulatory co-operation. There is also great scope for collaboration in digital economy and green transition. Our strengths in green finance, fintech, and innovation and technology can work well with South Africa's key industries, including mining, energy, agro-processing and manufacturing. Together, our entrepreneurs can develop innovative solutions that help strengthen your industry development on a sustainable and inclusive basis. But our strong relationship is not just in trade and finance. It is the bond between the two peoples. Hong Kong is fast becoming an international education hub. A number of our universities and academic disciplines rank among the world's best, attracting outstanding talent from across the globe. We would be delighted to welcome more young people from South Africa to study in Hong Kong, build their future here, and bring home new ideas, new experiences, and new connections. And if I may end on a sporting note, nothing would be more delightful than seeing the Blitzboks return to the Hong Kong Sevens next year to defend their title. Consul General, our warmest congratulations again on South Africa's Freedom Day. And ladies and gentlemen, may I now invite you to join me in a toast: to the people of the Republic of South Africa, and to the enduring friendship and co-operation between the People's Republic of China and the Republic of South Africa. Thank you. Ends/Thursday, April 23, 2026 Issued at HKT 19:43 NNNN"}, {"title": "Speech by FS at Hong Kong General Chamber of Commerce Renovated Office Opening Ceremony (22.4.2026)", "link": "https://www.info.gov.hk/gia/general/202604/22/P2026042200378.htm", "date": "22.4.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong General Chamber of Commerce (HKGCC) Renovated Office Opening Ceremony today (April 22): Agnes (Chairman of the HKGCC, Ms Agnes Chan), Peter (Deputy Chairman of the HKGCC, Dr Peter Lam), 朱文部長 (Director General of the Coordination Department of the Liaison Office of the Central People's Government (LOCPG) in the Hong Kong Special Administrative Region (HKSAR), Mr Zhu Wen), 周強副部長 (Deputy Director-General of the Economic Affairs Department and Head of the Commercial Office of the LOCPG in the HKSAR, Mr Zhou Qiang), consuls-general, distinguished guests, ladies and gentlemen, Good morning. It is my great pleasure to join you all in celebrating the opening of the Hong Kong General Chamber of Commerce's newly refurbished office. The Chamber has occupied this premises for over four decades, during which time it has borne witness to Hong Kong's remarkable transformation and development. It also stands as a testament to the dedication and contributions of generations of business leaders who have chosen to build and grow their businesses here in Hong Kong. While these past 40 years represent only about a quarter of the Chamber's distinguished history of 165 years, it has weathered multiple challenges and transformation in Hong Kong. During this period, we have also experienced firsthand the rapid evolution of technology - its challenges, its vast potential, and the powerful momentum it has unleashed. At every pivotal stage of economic and technological change, those in the business community who remain optimistic, though at times with caution, and move forward with agility and confidence, often find themselves presented with golden opportunities. History shows that those who have faith in Hong Kong over the long term are more likely to deliver strong results. Members of the Chamber have each played an active role in Hong Kong's development through their respective enterprises. You are the solid foundation for Hong Kong's continued growth. For Hong Kong's success, the most critical factor is talent. I am pleased to note that the Chamber's membership increasingly includes a new generation of business leaders as well as representatives from technology companies. This is a highly encouraging development for an organisation with such a rich heritage. Whether you are from traditional industries or the technology sector, or whether you are seasoned executives or emerging leaders, we all face both the challenges and opportunities brought about by geopolitics, green transition and technological transformation. More exchanges, dialogue and collaboration will enable deeper understanding of the needs, challenges and opportunities across different industries. With this thoughtful renovation, this premises now offers a more comfortable and functional space, providing members with enhanced facilities for meetings and engagement, and better supporting the Chamber's ongoing initiatives. Looking ahead, I am confident that this revitalised space represents more than just a physical upgrade. It symbolises the Chamber's readiness to keep pace with the times and embrace change. In this new era, filled with both opportunities and challenges, let us continue to work together to contribute to Hong Kong's continued prosperity and stability. I wish the Chamber every success in its future endeavors, and all members continued business success. Thank you very much. Ends/Wednesday, April 22, 2026 Issued at HKT 12:25 NNNN"}, {"title": "Speech by FS at 40th General Assembly of Asian and Oceanian Stock Exchanges Federation (22.4.2026)", "link": "https://www.info.gov.hk/gia/general/202604/22/P2026042200284.htm", "date": "22.4.2026", "description": "Following is the speech by the Financial Secretary, Mr Paul Chan, at the 40th General Assembly of the Asian and Oceanian Stock Exchanges Federation (AOSEF) today (April 22): Carlson (Chairman of the Hong Kong Exchanges and Clearing Limited (HKEX), Mr Carlson Tong), Bonnie (Chief Executive Officer of the HKEX, Ms Bonnie Chan), distinguished representatives of stock exchanges, honoured guests, ladies and gentlemen, It is a pleasure to welcome you to Hong Kong. We gather today not merely as operators of individual markets, but as stewards of a shared ecosystem. Global capital has never been more mobile - or more selective. The question before us is this: How do Asia's exchanges move from competing with one another to collaborating as a network, so that international capital sees our region not as fragmented markets, but as a compelling, coherent whole? Together, the Federation's 17 members represent roughly one-third of global market capitalisation and more than half of the world's listed companies. Yet many international investors still treat Asia as an afterthought. Why? Because of too many global funds; navigating across our markets remains complex and unfamiliar when approaching us one by one. The opportunity - and the challenge - are ours to address together. When an international asset manager can deploy capital into Korean semiconductors, Indian fintech, and Southeast Asian green infrastructure through a single, familiar infrastructure, we all benefit. When a long-term investor can gain exposure to Asian innovation without the hassle of navigating a maze of separate custodian accounts, the entire region wins. Our diversity is our strength, but only if we build the bridges that turn complexity into seamless accessibility. Hong Kong's role in this ecosystem is evolving. For decades, we have served as a gateway between international capital and the Chinese Mainland market. That role remains vital: more than half of our listed companies are Mainland enterprises, accounting for around 80 per cent of total market capitalisation. Our Connect schemes with the Mainland now account for roughly 70 per cent of international holdings of A-shares and about 60 per cent of offshore holdings of Mainland bonds. But Hong Kong's role is larger than any single corridor. We are increasingly a platform where the assets of one Asian market can be packaged and discovered by global investors who might otherwise never look at it. Last year, a Hong Kong fund manager worked with her Korean counterpart to list leveraged and inverse products in Hong Kong tracking Korean equities. These instruments have attracted a wave of international investors - many previously unfamiliar with the Korean market - effectively channelling fresh capital towards Korean stocks. This is not a zero-sum transaction. For Korea, this means new global visibility. For investors, more tools to express their views. For Hong Kong, deeper markets. That is collective value creation - and a model we can replicate. The lesson of our Connect schemes is clear: when two markets align on standards, clearing, and trading protocols, the multiplier effect far exceeds the sum of its parts. This playbook - built through managing cross-border order routing and settlement at scale - can be adapted to deepen linkages between any AOSEF members. Be it ETF (exchange-traded funds) cross-listings, co-developed indices, or mutual recognition of derivatives clearing. This year, Hong Kong introduced our \"Finance+\" strategy. Its purpose is not to expand our market share alone, but to strengthen Hong Kong as capital-formation infrastructure for the entire region's innovation economy. Our previous listing reforms have attracted pre-revenue biotech and specialist technology firms from across Asia to access global long-term capital. Our transition to a T+1 settlement cycle by late 2027 will reduce risk and improve capital efficiency - not only for Hong Kong, but for any regional partner with whom we share cross-listed products. We are also broadening our product ecosystem. Hong Kong has become one of the world’s top three ETP (exchange-traded products) markets, with average daily turnover around US$5 billion. The expansion of thematic ETFs - spanning gold and commodities technology, cross-border indices, and digital assets - adds vibrancy and vitality to our market. Our ETF mutual recognition with Saudi Arabia's Tadawul has created the largest such products in the Middle East. We are eager to pursue similar arrangements with more of you. Imagine an investor in one Asian market gaining exposure to another's benchmark through a Hong Kong-listed product. These are not distant ambitions; they are the next logical steps. Connectivity remains central. We have agreements with 20 exchanges worldwide to facilitate dual listings, and we will conclude more across the region. Our one-stop, multi-asset custodial platform, CMU OmniClear - a joint venture between the Hong Kong Monetary Authority and HKEX - will enable integrated management of equities and bonds, facilitating cross-asset collateralisation that supports the growth of derivatives markets across our network. Ladies and gentlemen, these capital flows are not abstract. They fuel the real economy. Global institutional investors are actively seeking diversification and long-term growth. They are looking for Asia's next generation of enterprises - green-energy innovators, digital banks, advanced manufacturers, etc. Hong Kong's role is to ensure that when that capital arrives, it flows efficiently to where Asia's best opportunities are - wherever they may be listed. Our region's demographic dividend, urbanisation, and expanding middle class will drive demand. Supply-chain and industry base reconfiguration is creating new industrial clusters. The 15th Five-Year Plan emphasises high-level opening up, encouraging more Chinese enterprises to go global while continuing to welcome international companies. The listing of CATL - the world's then largest IPO (initial public offering) - illustrated this dynamism. But our vision is larger: we want to be the platform where Asian innovation meets global capital, and where global capital meets Asian growth, regardless of which AOSEF market that growth calls home. So let me close with a proposal. Let us transform the AOSEF from an annual forum into a working group for tangible interoperability: mutual ETF listings, co-developed indices, shared disclosure standards, and eventually, multilateral connectivity that allows capital to move across our markets with greater ease. We are not just marketplaces. We are the plumbing through which the region's economic destiny flows. When we collaborate, we create incremental liquidity for each other. When we align our infrastructure, we lower the cost of global participation. When we pool access to international capital, we give every innovative enterprise in our region a better chance to scale and succeed. And if I may borrow from our industry: in finance, as in plumbing, the best connections are the ones you do not have to think about - they simply work. Let us build those connections. I wish you all a very fruitful General Assembly. Thank you. Ends/Wednesday, April 22, 2026 Issued at HKT 11:35 NNNN"}]}