FS continues to attend World Economic Forum Annual Meeting (17.1.2024)
17.1.2024

​The Financial Secretary, Mr Paul Chan, continued to attend the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland yesterday (January 16, Davos time). Mr Chan, accompanied by the Secretary for Commerce and Economic Development, Mr Algernon Yau, attended the WEF Annual Meeting, at which Premier Li Qiang delivered a special address. Mr Chan said Premier Li's speech comprehensively elaborated that the overall trend of China's long-term growth will not change, and China stays committed to opening up and continues to provide a strong impetus to the development of the world economy. Premier Li put forward concrete and vigorous suggestions on how to rebuild trust, enhance co-operation and promote world economic recovery and continuous growth under the current complex and volatile international political and economic environment. In the afternoon, Mr Chan met with the President of the World Bank Group, Mr Ajay Banga, and exchanged views on enhancing investment and financing for green and sustainable projects, promoting digitalisation in the region, enhancing collaboration among countries in the South, and promoting a more inclusive development of the regional as well as the global economy. Mr Chan also attended a business breakfast and a roundtable meeting organised by a multinational bank respectively. Participants included representatives from international financial institutions, investment funds, air cargo and logistics industry, insurance groups, professional services organisations and fintech enterprises. At the two sessions, Mr Chan introduced the latest economic and social conditions of Hong Kong. He also talked about the Hong Kong Special Administrative Region (HKSAR) Government's efforts in consolidating and enhancing the city's competitiveness as an international financial centre, developing a diversified economy, attracting enterprises and talent, and had in-depth exchanges with the participants. Speaking at a keynote seminar organised by a Mainland financial media agency, Mr Chan shared Hong Kong's new strengths and developments. He pointed out that four major global trends are reshaping the world economic order. They include unilateralism and geopolitical situation; the rise of China, developing Asia and the Middle East; global green transformation; as well as technological changes and the development of digital economy. Under the new global trend, Hong Kong, with its unique advantages under "one country, two systems", has bright prospects and will play an even more pivotal role as a bridge and platform connecting the Mainland and international markets and investors. The HKSAR Government is pressing ahead with the development of the "eight centres" as outlined in the 14th Five-Year Plan. In particular, the Government is promoting the development of financial services and innovation and technology as the dual engines of Hong Kong's future growth, so as to drive economic development towards a high-quality direction, and to bring more diversified and quality employment opportunities to the public. In the evening, Mr Chan attended a dinner hosted by the founder and executive chairman of the WEF, Professor Klaus Schwab, for the guests of the Annual Meeting. Mr Chan will continue his visit to Davos today (January 17, Davos time). Ends/Wednesday, January 17, 2024 Issued at HKT 9:00 NNNN