Hong Kong Business News

On the second day of his visit in Melbourne, Financial Secretary Paul Chan attended the Asia Summit, called on Chinese Consul-General in Melbourne Fang Xinwen and met a Hong Kong electric vehicle charging operator and its Australian partner.

Mr Chan delivered a speech that highlighted Hong Kong’s opportunities for Australia’s business and financial community, and joined the subsequent interaction session at the summit co-organised by the Australian Financial Review and the Asia Society Australia.
 
In his keynote speech, the finance chief emphasised that Article 23 of the Basic Law ensures a stable environment for the city’s economy to thrive.
 
“Like many jurisdictions, we have a national security law. Article 23 of the Basic Law was legislated earlier this year, fulfilling our constitutional obligation. It ensures a stable and predictable environment for our economy and the companies that make it thrive.
 
“In the American Chamber of Commerce survey, close to 70% of the respondents indicated that their operations had not been affected by the National Security Law. ‘One country, two systems’ will continue to underpin Hong Kong’s success and development as a global super connector."
 
Looking ahead, Mr Chan said Hong Kong’s economy has resumed steady growth following the COVID-19 pandemic, and in the long run, the city’s core strength lies in “one country, two systems”, and it will continue to maintain the salient features of “two systems”, thus continuing to serve as a trusted hub for international investors and enterprises.
 
Such salient features include its common law system, the rule of law, a judiciary exercising powers independently, as well as the free flow of capital, goods, information and talent.
 
The finance chief also pointed out that the Greater Bay Area (GBA), where Hong Kong is situated, supports the city’s development and brings business opportunities to foreign investors.
 
He highlighted the region’s advantages such as its substantial gross domestic product, affluent population, an innovation and technology (I&T) ecosystem that ranks top worldwide, and a comprehensive shipping and transportation network.
 
Additionally, Mr Chan called attention to Hong Kong’s development directions in finance and I&T during the summit.
 
To foster the development of I&T, he stressed that the Hong Kong Special Administrative Region Government has set up the Office for Attracting Strategic Enterprises to attract high-tech companies to the city. More than 100 companies have either established or expanded their operations in Hong Kong, while various talent admission schemes have been attracting high-calibre talent to the city.
 
Mr Chan concluded that by leveraging their strengths in finance and I&T, the GBA will become a region that combines the advantages of the New York and San Francisco bay areas. 
 
He stated that he looks forward to strengthening co-operation with the business community and the I&T sector in Australia to create new opportunities together.
     
Following the summit, Mr Chan met Chinese Consul-General in Melbourne Fang Xinwen to brief him on Hong Kong’s recent developments. They exchanged views on topics such as China-Australia relations and promoting co-operation among Hong Kong, the whole of the GBA, and Australia.
 
Mr Chan also visited a Hong Kong electric vehicle charging operator and its Australian partner, who are expanding their business in Melbourne, to learn about their development strategies.
 
After the meeting, Mr Chan made it clear that Hong Kong’s green technology enterprises can tap into overseas markets through their advanced and leading technologies, facilitating global green and low-carbon transformation while opening up larger markets for themselves. He described it as a win-win situation.
 
The Financial Secretary encouraged more Hong Kong green tech enterprises to go global and seek opportunities of co-operation, thereby contributing to global green transformation.

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