Hong Kong Business News

Secretary for Financial Services & the Treasury Christopher Hui met Swiss financial officials and top management of the International Institute for Management Development (IMD) in Bern and Lausanne, respectively, on the last day of his visit in Switzerland.

On Thursday morning, Mr Hui met State Secretary for International Finance at the Swiss Federal Department of Finance Daniela Stoffel, where he noted that Hong Kong has set out its strategic development as an international financial centre (IFC) on all fronts.

The scope of development covers fintech, sustainable finance and the connect programmes facilitating the two-way flow of capital between China and the world, he added.

Both sides discussed opportunities for bilateral co-operation, given that Hong Kong is a leading IFC with its financial sector contributing nearly one-fourth of its gross domestic product, while Switzerland has a well-developed service sector led by financial services.

Mr Hui participated in the IMD’s luncheon, during which he met the institute’s World Competitiveness Center Director Prof Arturo Bris.

He also met separately with IMD President David Bach, sharing Hong Kong’s latest policy initiatives on enhancing the asset and wealth management industry as well as green and sustainable finance.

On the same day, Mr Hui paid a courtesy call on Chinese Embassy in Switzerland Charge d’affaires Mao Jun, in Bern.

Upon concluding his visit in Switzerland, Mr Hui said Switzerland and Hong Kong offer financial services across different time zones. Through meetings with top figures from international organisations, the financial sector and the business community, all parties share the view that there is ample room for co-operation between the two places.

He added that Hong Kong must strive to be among the first jurisdictions to align the local sustainability disclosure requirements with the International Financial Reporting Standards - Sustainability Disclosure Standards.

Mr Hui will return to Hong Kong today.

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