FS attends 6th Future Investment Initiative in Riyadh (with photos/video)

     The Financial Secretary, Mr Paul Chan, attended the 6th Future Investment Initiative (FII) in Riyadh, Saudi Arabia and spoke at the forum's plenary session "The New Global Order: View from the State Room".

     Mr Chan said at the plenary session that China has affirmed "one country, two systems" as part of its governance system. 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; maintaining the linked exchange rate system, etc. These have firmly supported the development of Hong Kong as an international financial centre, and Hong Kong's prospects are very promising.

     Mr Chan said that 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 said that the Hong Kong SAR Government is adopting a more proactive strategy, actively attracting enterprises and talents, with a view to promoting better and more diversified economic development. He also explained to the participants Hong Kong's science-based and precise anti-epidemic policy.

     At the meeting, Mr Chan also shared Hong Kong's prosperous development of green and sustainable finance and that it could contribute to the regional and global green transformation. He also elaborated on Hong Kong's work in promoting people-to-people bonds and cultural exchanges, and enhancing cultural mutual understanding.

     Other speakers at the plenary session included the Minister of Investment of Saudi Arabia, Mr Khalid Al-Falih; the Minister of Development and Investments of Greece, Mr Adonis Georgiadis; the Minister for Development Cooperation and Foreign Trade of Finland, Mr Ville Skinnari; and Former First Secretary of State and Chancellor of the Exchequer of the United Kingdom Mr George Osborne.

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

     Mr Chan also met with the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the Kingdom of Saudi Arabia, Mr Chen Weiqing. He briefed him on the latest developments in Hong Kong and exchanged with him views on the Saudi Arabian market and the bilateral relations between China and Saudi Arabia.

     Mr Chan also met with the Chairman of Olayan Financing Company, Ms Lubna Olayan, and introduced the investment opportunities in Hong Kong.

     Mr Chan will attend a breakfast meeting co-organised by the Economic and Trade Office of the HKSAR Government and the Hong Kong Stock Exchange, in the morning today (October 26, Saudi Arabia time), and deliver a keynote speech to political, business and financial leaders from the Middle East and other regions attending FII, promoting Hong Kong's important role as a financial gateway to the Mainland and measures to attract investments and talents.

Ends/Wednesday, October 26, 2022
Issued at HKT 9:00