Economy will pick up growth: FS

Financial Secretary Paul Chan said that the economy would pick up growth this year during a luncheon at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.

At the WEF Annual Meeting yesterday, Mr Chan participated in the Special Address delivered by State Council Vice Premier Liu He.

He then attended the Davos-Caixin CEO Luncheon and delivered a speech on Unleashing the Full Potential of Asia: Scenarios and Opportunities.

Mr Chan pointed out that Hong Kong is quickly returning to normalcy from the pandemic, and as the Mainland has speeded up its opening, the economy this year will pick up growth.

“With the advantages of ‘one country, two systems’ and the firm support of the country, Hong Kong is the only place where the China advantages and the international advantages converge.

“In many different areas such as financial services and innovation and technology, Hong Kong plays the role of connecting the Mainland and the world, thereby actively contributing to the prosperity and sustained development of Asia.”

Mr Chan also had a breakfast meeting with the senior management of financial institutions in Europe and Japan, during which he elaborated on Hong Kong's latest developments, systemic strengths and bright prospects.

The Financial Secretary also met Lenovo Chairman Yang Yuanqing, as well as Envision Group Chief Executive Officer Zhang Lei. Mr Chan explained the prevailing economic situation and opportunities, and Hong Kong's latest policies in innovation and technology as well as attracting strategic enterprises and talent.

Mr Chan also met the Bloomberg Chairman Peter Grauer, explaining in detail Hong Kong's new opportunities at a new phase of development.

Additionally, Mr Chan attended a dinner reception hosted by WEF Founder & Executive Chairman Prof Klaus Schwab.