Financial Secretary Paul Chan highlights Hong Kong’s new advantages to U.K. financial and business leaders during London visit

Photo shows Mr Chan speaking to more than 120 guests from the political and business communities at a luncheon hosted by the Hong Kong Association.

22nd September 2023 – (London) The Financial Secretary, Mr Paul Chan, embarked on his visit to London with a busy schedule, engaging in various meetings and events to promote Hong Kong’s economic and financial interests. Yesterday, 21st September, Mr Chan participated in several important gatherings aimed at strengthening collaboration and exploring opportunities for mutual growth.

To kickstart the day, Mr Chan attended a roundtable meeting with The CityUK Leadership Council, an industry-led body representing UK-based financial services. During the meeting, he provided an overview of Hong Kong’s current economic and financial situation, emphasizing the potential and key areas for the city’s financial services development in the short, medium, and long term. Mr Chan highlighted Hong Kong’s role as an ideal gateway and platform for U.K. financial, asset, and wealth management businesses to access the Mainland’s and Asian markets. He expressed his desire to enhance collaboration between Hong Kong and the UK in various areas, including facilitating cross-boundary investment and fostering the development of fintech and green finance.

Later in the day, Mr Chan attended the Hong Kong Association Luncheon, where he delivered a speech to over 120 guests from the political and business communities in the U.K. He reiterated China’s firm support for the “one country, two systems” principle in Hong Kong, ensuring the city’s long-term preservation of its unique status, common law system, rule of law, and other advantages. Mr Chan discussed Hong Kong’s pursuit of high-quality development, driven by the dual engines of financial services and innovation and technology. He emphasized Hong Kong’s commitment to becoming an international center for green technology and green finance, actively attracting strategic enterprises, talents, and welcoming UK businesses and professionals to explore opportunities in the city. In addition, he mentioned Hong Kong’s ongoing infrastructure projects, such as the Northern Metropolis and Kau Yi Chau Artificial Islands, which aim to boost development capacity and improve people’s livelihoods. Mr Chan invited UK enterprises and the business sector to explore potential cooperation opportunities in these projects.

In the afternoon, Mr Chan met with the Governor of the Bank of England, Mr Andrew Bailey. The two officials engaged in a discussion covering a range of topics, including interest rates, inflation trends, global economic development, and mutual concerns regarding financial regulation. This meeting provided an opportunity for both parties to exchange views and insights on these important matters.

As part of his visit, Mr Chan also called on the Chargé d’Affaires of the Chinese Embassy in the U.K., Minister Yang Xiaoguang. During the meeting, Mr Chan briefed Minister Yang on the latest situation in Hong Kong and discussed the city’s future developments. He expressed gratitude for the Embassy’s ongoing support to the Hong Kong Economic and Trade Office in London. Both officials also exchanged views on economic prospects in Europe, as well as geopolitical matters of mutual interest.

To conclude his busy day, Mr Chan attended a dinner hosted by the China Chamber of Commerce in the U.K., where he had the opportunity to engage with representatives from the Chinese business community in the U.K.

Continuing his visit today, 22nd September, Mr Chan will carry forward his engagements in London, further strengthening ties and exploring avenues for collaboration between Hong Kong and the U.K.

Photo shows Mr Chan (first right) at a roundtable meeting with The CityUK Leadership Council, which is an industry-led body representing UK-based financial services, to elaborate the situation of Hong Kong’s latest economic development and financial market, and the opportunities and key areas of the Hong Kong’s financial services development in the short, medium and long term.