Speech by CE at IFF Hong Kong Conference cum Inaugural Ceremony of IFF Hong Kong Center
5.5.2023

​Following is the video speech by the Chief Executive, Mr John Lee, at the IFF Hong Kong Conference cum Inaugural Ceremony of IFF Hong Kong Center today (May 5): Mr Han Seung-soo (Co-Chairman of International Finance Forum (IFF)), Mr Eddie Yue (Chief Executive of the Hong Kong Monetary Authority), distinguished guests, ladies and gentlemen, I am pleased to have this opportunity to welcome such an impressive line-up of distinguished speakers and guests, including not just one, but several former heads of government, senior government officials, heavyweight business leaders, and renowned scholars. I am grateful to the International Finance Forum for choosing Hong Kong in hosting this high-level global conference and, more significantly, in launching its Hong Kong Center on the Forum's 20th anniversary. As a premier international financial centre and an irreplaceable connection between the Mainland and the rest of the world, Hong Kong is the ideal base to further the IFF's mission to promote international dialogue and multilateral co-operation in the financial realm. The work that the IFF is doing is more important than ever, as the global enthusiasm for strategic competition intensifies. In the face of increasingly complicated challenges, the world needs more communication and collaboration. Under the unique "one country, two systems" principle, Hong Kong is bestowed with the unparalleled advantage of having strong national support while being connected to the rest of the world. In his important speech at the first session of the 14th National People's Congress in March, President Xi Jinping said that we should solidly promote the practice of "one country, two systems". Hong Kong's enviable status as the only place in the world where the global advantage and the China advantage converge in a single city is here to stay. As a dynamic and highly competitive global financial centre, Hong Kong remains a strong supporter of multilateralism and global economic co-operation. We don't just talk the talk, we also walk the walk. The Hong Kong SAR Government has been proactively reaching out to our international partners on various fronts. Over the last few months, my colleagues and I have led by example by travelling to the Middle East, Southeast Asia, and Europe to strengthen ties and seek partnership opportunities. Just over a month ago, the Hong Kong Monetary Authority hosted the Basel Committee on Banking Supervision's first physical meeting outside of Basel since the pandemic, underlining our contribution to maintaining global financial stability. Meanwhile, Hong Kong is striving for early accession to the Regional Comprehensive Economic Partnership, or RCEP, a free trade agreement in the Asia-Pacific region. It is now the world's largest free trade agreement and Hong Kong is committed to promoting regional economic integration through RCEP. In the era of strategic competition, we must be proactive, be the first mover, and be prepared for the evolving macro environment. Under the result-oriented approach that I have adopted, the Hong Kong SAR Government is sparing no efforts to pursue high-quality development. We have been developing new engines for growth, including proactively attracting strategic enterprises and top talents to Hong Kong, diversifying our financial market by focusing on Web3 and green and sustainable finance, and developing and budding industries of innovation, technology, arts and culture. We will also continue to integrate into the national development, particularly the Guangdong-Hong Kong-Macao Greater Bay Area development, and deepen economic and cultural ties with economies under our country's Belt and Road Initiative and beyond. Ladies and gentlemen, as one of the world's most open economies, multilateralism and globalisation form part of Hong Kong's DNA. In the era of strategic competition, the Pearl of the Orient will shine even brighter because, after all, Hong Kong's success is based on our versatility and resilience. On that note, I wish this conference a great success and wish you all the best of business. Thank you. Ends/Friday, May 5, 2023 Issued at HKT 15:30 NNNN