Financial Secretary Paul Chan Mo-po (second left) and Deputy Chief Executive of the Hong Kong Monetary Authority Howard Lee (first left) meet with Chairman of Olayan Financing Company Lubna Olayan (second right) during Chan's visit to Riyadh, Saudi Arabia on Oct 25, 2022. The Olayan Financing Company is a family conglomerate in Saudi Arabia and Chan introduced to them the investment opportunities in Hong Kong. (PHOTO / HKSAR GOVERNMENT)
Hong Kong Financial Secretary Paul Chan Mo-po sent a clear message to the world on Tuesday that the special administrative region government has a “proactive” strategy to attract worldwide talent and enterprises.
Hong Kong Financial Secretary Paul Chan Mo-po elaborated on Hong Kong’s work in promoting people-to-people bonds and cultural exchanges, and enhancing cultural mutual understanding
The finance chief delivered the news in Riyadh, Saudi Arabia, during a speech at the plenary session “The New Global Order: View From the State Room” at the 6th Future Investment Initiative.
Chan said that the government is actively attracting enterprises and talent by adopting a “more proactive strategy”, with a view to promoting better and more-diverse economic development.
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About 6,000 participants from around the world, including CEOs, policymakers, investors, entrepreneurs, and young business leaders, are participating in the three-day FII, which began on Tuesday.
“Hong Kong will continue to enhance its competitiveness as an international financial center, and at the same time complement and synergize with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area in areas such as innovation and technology,” Chan said.
With the support of the country, Hong Kong will fully harness the institutional advantages of the “one country, two systems” principle, he said.
Chan underscored that Hong Kong will continue to “implement the capitalist system; maintain the common law system, and independently exercise judicial power; have in force a regulatory system that aligns with international standards; maintain the linked exchange rate system, etc.”
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The financial secretary also explained Hong Kong’s science-based and precise anti-epidemic policy to the forum’s attendees.
Chan shared Hong Kong’s prosperous development of green and sustainable finance, which could contribute to the regional and global green transformation. He elaborated on Hong Kong’s work in promoting people-to-people bonds and cultural exchanges, and enhancing cultural mutual understanding.
On Tuesday afternoon, Chan met with Chen Weiqing, the Chinese ambassador to Saudi Arabia; and Lubna Olayan, chairman of Olayan Financing Co.
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Chan’s three-day visit to Riyadh will end on Thursday. He had previously spent two days in Bahrain as part of his Middle East visit, during which he is seeking to boost financial and commercial ties, along with cooperation, between Hong Kong and the region.