Paul Chan Mo-po, financial secretary of the Hong Kong Special Administrative Region, attends the World Economic Forum Annual Meeting 2023, at Davos, Switzerland, Jan 16. (PHOTO / INFORMATION SERVICES DEPARTMENT, HKSAR)

HONG KONG – Hong Kong’s finance chief met with a number of political and business leaders joining the World Economic Forum at Davos in Switzerland on Monday and explained to them the latest state of Hong Kong’s return to normalcy and development opportunities. 

The WEF Annual Meeting returned to its snowy winter residency in the Swiss Alps on Monday with a record attendance of business and government leaders and will run through Friday. The theme of this year’s meeting is “Cooperation in a Fragmented World”.

Financial Secretary Paul Chan Mo-po, who left the city on Saturday to attend the WEF meeting, met with the Minister of Finance of Thailand, Arkhom Termpittayapaisith, on Monday. 

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They exchanged views on the current international economic and financial situation and discussed ways to further strengthening financial cooperation, according to a government news release issued Tuesday.

Financial Secretary Paul Chan (first left), meets with the Minister of Finance of Thailand Arkhom Termpittayapaisith (first right), during the World Economic Forum Annual Meeting 2023 at Davos, Switzerland, Jan 16, 2023. (PHOTO / INFORMATION SERVICES DEPARTMENT, HKSAR)

Hong Kong’s financial markets are deepening and broadening with the continuous expansion and development of the mutual market access schemes with the mainland, thus better converging international and mainland capital, said Chan. 

He welcomed enterprises in Thailand to actively use Hong Kong’s efficient fund-raising platforms to finance large-scale infrastructure and other projects.

The finance chief also met with Saudi Arabia’s Finance Minister Mohammed Al-Jadaan. 

The Hong Kong finance chief, Paul Chan (left), meets with Saudi Finance Minister Mohammed Al-Jadaan, Jan 16, 2023 during the World Economic Forum Annual Meeting 2023 at Davos, Switzerland. (PHOTO / INFORMATION SERVICES DEPARTMENT, HKSAR)

Explaining the special administrative region’s latest directions and prospects of development, he indicated that Hong Kong as an international financial center could help countries in the Middle East region to diversify their investments and manage risks.

There is ample room for mutual cooperation on various aspects, Chan told Al-Jadaan.

Financial Secretary Paul Chan (left) meets with Managing Partner of EQT AB Marcus Brennecke on Jan 16, 2023 during the World Economic Forum Annual Meeting 2023 at Davos, Switzerland. (PHOTO / INFORMATION SERVICES DEPARTMENT, HKSAR)

Paul Chan (right) meets with Founder and Chairman of Vista Equity Partners Robert Smith on Jan 16, 2023 at the World Economic Forum Annual Meeting 2023 at Davos, Switzerland. (PHOTO / INFORMATION SERVICES DEPARTMENT, HKSAR)

Chan also met with senior management of a number of international private equity firms and multinational companies, such as the Managing Partner of EQT AB, Marcus Brennecke, and Founder and Chairman of Vista Equity Partners, Robert Smith.

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He exchanged views with them on capital market development, talent training, and development opportunities of the Guangdong-Hong Kong-Macao Greater Bay Area.

On Monday evening, Chan attended a welcoming reception by WEF.