FS participates in Annual Meetings of IMF and World Bank Group in Washington, DC (with photos/video)
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The Financial Secretary, Mr Paul Chan, continued his see to Washington, DC, the United States (United States) the other day (October 17, Washington time), participating in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group. He likewise took part in different occasions, conference with leaders in the monetary sector, significant company agents and believe tank figures to inform them on the most recent advancements and organization environment in Hong Kong.
In the early morning, Mr Chan participated in the plenary session of the Annual Meetings. Later on, he signed up with an in-conversation session arranged by the Institute of International Finance, a top-level online forum gone to by senior executives of numerous worldwide banks. Throughout the session, Mr Chan shared insights on the existing state of Hong Kong’s economy, its technique of advancement as a monetary centre, chances in development and innovation– especially expert system– the advancement of digital possessions, and the structure of a client capital environment.
Mr Chan highlighted Hong Kong’s distinct benefits under the “one country, two systems” plan, consisting of complimentary circulation of capital, an easily convertible currency pegged to the United States dollar, an extremely internationalised market, and close positioning with worldwide finest practices. He likewise stressed Hong Kong’s support of monetary development. In spite of increasing international financial unpredictabilities in current months, Hong Kong has actually continued to see capital inflows, showing worldwide financiers’ self-confidence in the city’s financial investment environment and chances.
He kept in mind that Hong Kong is continually reforming its capital markets to assist in business fundraising and improve market liquidity, therefore bring in premium providers and financiers from both regional and abroad markets. At the very same time, Hong Kong is welcoming monetary development with a sensible technique, promoting the advancement of digital possessions consisting of stablecoins. He likewise shared efforts in supporting patient capital, consisting of the facility of the Hong Kong Investment Corporation Limited (HKIC), which invests early, in smaller-sized business, and with a long-lasting point of view. The HKIC likewise mobilises personal capital to support development and innovation markets. Mr Chan stated that the HKIC has actually up until now bought over 130 tasks, and for every single $1 invested, it has actually brought in around $6 in co-investment from the marketplace.
At twelve noon, Mr Chan went to a company luncheon co-hosted by the US-China Business Council and the Hong Kong Economic and Trade Office in Washington, with over 40 American magnate in presence. He provided a keynote speech, upgrading individuals on Hong Kong’s newest financial scenario and future advancement instructions, and exchanged views with visitors on subjects consisting of chances in Hong Kong and the Chinese Mainland.
He worried that the “one country, two systems” plan is a considerable benefit for Hong Kong which the Central Government has actually made it clear that this excellent system will be supported in the long run. Hong Kong continues to practice the typical law system, and its judiciary workouts judicial power individually. The guideline of law in Hong Kong stays extremely ranked worldwide. In regards to monetary development, under the “one country, two systems” plan, Hong Kong is likewise wisely checking out locations such as digital properties. Concerning development and innovation advancement, Hong Kong take advantage of access to both Mainland and worldwide information, which is useful for research study and advancement activities in sectors like health care. This makes Hong Kong especially appealing to abroad biomedical business.
Mr Chan declared that Hong Kong will continue to welcome American organizations and skill to invest and establish their professions in the city.
Later On, Mr Chan went to a roundtable conversation hosted by the United States think tank Atlantic Council, where he exchanged views with agents from international corporations, banks, and regional think tanks. He informed them on Hong Kong’s present financial and monetary conditions, its development and innovation advancement, and talked about subjects consisting of trade, financing, digital possessions and development.
Mr Chan has actually left for Hong Kong and will get here tomorrow early morning (October 19).