FS says financial meetings in HK will strengthen international links

Financial Secretary Paul Chan noted in his latest blog post that during the National Day Golden Week, many restaurants and retail shops recorded revenue growth. Beyond the booming tourism sector,

Hong Kong's financial market also remained active. In the first nine months of this year, 116 companies were listed in Hong Kong, raising over HK$388 billion—a figure that has already surpassed last year’s total.

However, Chan pointed out that as long-term US Treasury yields climbed to a 24-year high, investors have developed concerns over global economic prospects, which inevitably affected local stock market sentiment recently.

Nevertheless, short-term market fluctuations do not alter the broader international trend of asset reallocation and global supply chain restructuring.

He mentioned his trip to Doha, Qatar last week to attend the Asian Infrastructure Investment Bank (AIIB) Annual Meeting, where he engaged in extensive exchanges with political and business leaders from around the world.

He observed that when it comes to "strengthening cooperation," parties have progressed from mere intention to more in-depth and concrete project discussions. Hong Kong’s value in regional cooperation lies not only in the depth and efficiency of its financial market, but also in its unique position under "One Country, Two Systems" that connects the Mainland with the world, alongside its common law system and soft-power advantages in other areas.

Summarizing the trip, he saw clearly that cooperation between Hong Kong, the Middle East, and the Global South is deepening and solidifying.

Chan stated that Hong Kong will host several major international financial events in the coming months, including the APEC Finance Ministers' Meeting—held in Hong Kong for the first time—the Global Financial Leaders' Investment Summit early next month, and the Asian Financial Forum next year. These events will further deepen international links and promote pragmatic cooperation.

{Photo courtesy: Financial Secretary Blog}