On Friday (October 17), Mr Chan attended the plenary session of the Annual Meetings of IMF and WBG. He also joined an in-conversation session organised by the Institute of International Finance, where he shared insights on the current state of Hong Kong’s economy, its strategy of development as a financial centre, opportunities in innovation and technology—particularly artificial intelligence—the development of digital assets, and the building of a patient capital ecosystem.
Mr Chan highlighted Hong Kong’s unique advantages under the “one country, two systems” arrangement, including free flow of capital, a freely convertible currency pegged to the US dollar, a highly internationalised market, and close alignment with international best practices.
Despite rising global economic uncertainties in recent months, Hong Kong has continued to see capital inflows, reflecting international investors’ confidence in the city’s investment environment and opportunities, Mr Chan said.
Delivering a keynote speech at a business luncheon co-hosted by the US-China Business Council and the Hong Kong Economic and Trade Office in Washington (Washington ETO), he stressed that the “one country, two systems” arrangement is a significant advantage for Hong Kong and that the Chinese government has made it clear that this good system will be upheld in the long run. For example, Hong Kong continues to practise the common law system, and its judiciary exercises judicial power independently. The rule of law in Hong Kong remains highly ranked internationally. In terms of financial innovation, Hong Kong is also prudently exploring areas such as digital assets.
On his arrival in Washington, DC (October 16), Mr Chan held meetings with senior officials of the IMF and the WBG.
He informed the IMF team responsible for conducting the Article IV Consultation (a regular economic assessment of members’ economies) on Hong Kong, about the city’s current economic and fiscal conditions, as well as its development directions.
During a roundtable dinner hosted by the Washington ETO, Mr Chan briefed representatives from major US business chambers, think tanks and consultancy firms etc. on Hong Kong’s business environment and latest developments. He also engaged in discussions on the future of Hong Kong–US economic and trade relations.
Before travelling to Washington, DC, Mr Chan attended a luncheon jointly hosted by the National Committee on United States–China Relations (NCUSCR) and the Hong Kong Economic and Trade Office in New York (October 15).
Despite the recent signs of escalating trade tensions, the Financial Secretary said Hong Kong will firmly uphold its status as a free port and continue to implement free, open and predictable trade policies and practices.
Mr Chan also joined a roundtable discussion with key US funds and asset management representatives, during which he highlighted opportunities in the financial market, including IPOs and follow-on fund raising, fixed income and currency markets, private equity, asset and wealth management, green finance, stablecoins and digital assets.
As a “super connector” and “super value-adder” between the Chinese Mainland and the world, Hong Kong will continue to offer attractive investment opportunities for investors from the US and around the globe, he said.
Mr Chan kicked off his visit (October 14) by joining around 300 guests at the annual Gala Dinner of the NCUSCR. During the event, he met with the NCUSCR Chair and former US Trade Representative, Ambassador Charlene Barshefsky to exchange views on various topics, including current China-US economic and trade relations.
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