Paul Chan visits Saudi Arabia

Financial Secretary Paul Chan continued his trip to the Middle East where he spoke at an investment forum in Riyadh, Saudi Arabia, and met local officials to discuss strengthening bilateral economic and trade co-operation.

While delivering his speech at the sixth Future Investment Initiative’s plenary session titled The New Global Order: View from the State Room, Mr Chan made it clear that China has affirmed "one country, two systems" as part of its governance system.

He explained that with the support of the country, Hong Kong will fully harness the institutional advantages of "one country, two systems", including continuing to implement the capitalist system, maintaining the common law system and independently exercising judicial power, having in force a regulatory system that aligns with international standards and maintaining the linked exchange rate system.

Such advantages, Mr Chan stressed, have firmly supported the development of Hong Kong as an international financial centre and, as a result, the city's prospects are very promising.

The finance chief said Hong Kong will continue to enhance its competitiveness as an international financial centre, and at the same time complement and synergise with other cities in the Guangdong-Hong Kong-Macao Greater Bay Area in areas such as innovation and technology.

He added that the Hong Kong Special Administrative Region Government is adopting a more proactive strategy, actively attracting enterprises and talent, with a view to promoting better and more diversified economic development.

Mr Chan also took time to explain Hong Kong's science-based and precise anti-epidemic policy to the participants.

In addition to sharing information about Hong Kong's prosperous development of green and sustainable finance during the conference, he elaborated on the city's work in promoting people-to-people bonds and cultural exchanges.

In the afternoon, Mr Chan met Saudi Arabia’s Minister of Investment Khalid Al-Falih and Advisor to the Saudi Royal Court on Economic Matters Mohammad Al-Tuwaijri to highlight Hong Kong's financial and economic development and discuss the strengthening of bilateral economic and trade co-operation.

The Financial Secretary also met Olayan Financing Company Chairman Lubna Olayan and introduced the investment opportunities in Hong Kong.