The Financial Secretary, Mr Paul Chan, yesterday (October 29, London time) continued his visit programme in London to meet with members of the UK banking and business sectors and encouraged them to capture the many opportunities of the Belt and Road Initiative and the development of the Guangdong-Hong Kong-Macao Greater Bay Area through Hong Kong.

     Addressing a luncheon of the Hong Kong Association, Mr Chan said that in view of the social incidents, the Hong Kong SAR Government is making efforts to address the challenges, from launching a diversified dialogue platform to putting forward new measures in the Policy Address to tackle issues in housing and land supply, aiming to relieve social unrest.

     Mr Chan also pointed out that he announced in mid-August, early September and last week new measures costing over $20 billion in total to support enterprises and safeguard jobs.

     He reassured members of the UK sector representatives in attendance that Hong Kong's financial system is sound and resilient and running smoothly. He also expressed his confidence that Hong Kong's institutional strengths, such as the "one country, two systems" principle and the rule of law, will help the city to meet the challenges.

     Given Hong Kong's pivotal role in enhancing international and regional co-operation in the context of the Belt and Road Initiative and the development of the Greater Bay Area, he urged UK companies to expand their business in Hong Kong and seize the opportunities of the national development initiatives.

     At a roundtable discussion jointly organised by Hong Kong Economic and Trade Office in London of the Hong Kong SAR Government, the City of London and HM Treasury of the UK, Mr Chan pointed out that the Belt and Road Initiative and the Greater Bay Area Development will draw foreign investment in infrastructure and Hong Kong will continue to serve as the premier platform for bringing in such investment to the Mainland. Thanks to its well-developed fund-raising and insurance markets, Hong Kong also serves as an infrastructure project financing and risk management centre. He encouraged the UK business sector to leverage Hong Kong to capitalise on the vast business opportunities.

     Mr Chan then met with the Governor of the Bank of England, Mr Mark Carney, and exchanged views on various issues including supervisory cooperation, green finance and the global economy. Highlighting the mutual benefits of the strong Hong Kong-UK trade and economic ties, they agreed that both sides would continue to work closely together in the future.

     In addition, in the morning, Mr Chan led a fintech delegation of around 20 members to visit Level 39, the largest start-up incubator in Europe, to learn about its services and support for innovation and technology start-up companies.

     Today (October 30, London time), Mr Chan will address at the annual Hong Kong Dinner in London, organised by the Hong Kong Trade Development Council, and meet with Members of UK Parliament, as well as members of the business sector, to brief them on the latest developments of Hong Kong.

Ends/Wednesday, October 30, 2019
Issued at HKT 9:00

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