FS CONCLUDES DAVOS VISIT

Financial Secretary Paul Chan concluded his visit to Davos, Switzerland, by attending thematic meetings at the World Economic Forum (WEF) Annual Meeting and convening with political, business and financial leaders from around the globe.

In the morning, Mr Chan participated in a discussion session titled “Stemming Financial Fragmentation” and served as one of the panelists. The session focused on addressing the risks of financial fragmentation amid rising geopolitical tensions.

Mr Chan noted that while geopolitics may subject regional and global financial markets to greater volatility, Hong Kong boasts a robust financial system and strong buffer, maintains a free and open business environment, and steadfastly upholds the linked exchange rate system.

He emphasised that Hong Kong's financial markets have undergone remarkable transformation on various fronts, including the stock market and asset and wealth management business which have achieved significant growth since Hong Kong's return to the motherland.

In response to questions, in addition to pointing out that China's economy is steadily advancing, with solid progress towards high-quality development, Mr Chan indicated that the country is also committed to accelerating high-level openness and mutually beneficial co-operation as its national policy.

Afterwards, Mr Chan participated in a thematic meeting organised by the Giving to Amplify Earth Action launched by the WEF, where he spoke on promoting investment in climate projects.

He highlighted that Hong Kong, as an international financial centre, plays to its strengths as a super connector and super value-adder. On one hand, the city provides financial support for green and transition projects through its comprehensive financial services; on the other hand, it actively seeks to facilitate co-operation among the public, private and philanthropic sectors.

Mr Chan shared examples that include hosting international conferences such as Wealth for Good in Hong Kong, which brings together decision-makers from global funds, like family funds, to promote synergies between global wealth and climate projects, thereby fostering impact investments.

He explained that through these efforts, Hong Kong seeks to make greater contributions to regional and global sustainable development.

The Financial Secretary also continued his meetings with various political and business leaders yesterday. He held bilateral discussions with Saudi Arabia's Minister of Investment Khalid Al-Falih and Egypt's Minister of Finance Ahmed Kouchouk, respectively.

During such meetings, they exchanged views on international and regional landscapes, and discussed ways to strengthen bilateral investment and trade relations.

Mr Chan made it clear that Hong Kong actively seeks to develop trade relations with Global South countries, and extended invitations to the ministers to lead business delegations to the city to explore mutually beneficial co-operation opportunities.

In the afternoon, Mr Chan met President & Chief Executive Officer of Franklin Templeton Jenny Johnson to discuss the business expansion plans of the international fund group in the region. They also exchanged views on the current global economic and financial market landscapes.

Mr Chan is scheduled to return to Hong Kong on Saturday.

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