The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Brussels, Belgium, yesterday (April 13, Brussels time). He met with leaders of the financial sector and promoted Hong Kong's strengths in fintech and green finance at a high-level dialogue.
      
     Speaking at the High-level Dialogue cum Dinner - "Hong Kong's Unique Position as the Green Finance and Fintech Capital of Asia", Mr Hui shared with the participating financial stakeholders that reducing carbon emissions and realising sustainable development are high priorities for governments and institutions all over the world. He noted that the European climate law makes reaching the European Union's (EU) climate goal of reducing EU emissions by at least 55 per cent by 2030 a legal obligation, while Hong Kong has targeted to reduce carbon emissions by 50 per cent before 2035 and achieve carbon neutrality before 2050.
      
     "Hong Kong is a leading player in green finance. In 2022, green and sustainable debts arranged or issued in Hong Kong amounted to over US$80.5 billion," Mr Hui said, adding that the US$101 million tokenised green bond issued by the Hong Kong Special Administrative Region Government in February this year, the first of its kind released in the world by a government, could further entrench the awareness of sustainability issues in combination with technology.
      
     Turning to fintech, Mr Hui said that Hong Kong published a policy statement on development of virtual assets in the city in October last year, setting out the policy stance and approach for virtual asset innovations to thrive in a sustainable manner.   
      
     "Both the EU and Hong Kong are pioneers in the area of green finance. We look forward to collaborating with the EU to promote a better greener world by making use of technology," Mr Hui said.
      
     Earlier yesterday, Mr Hui met with Director of the National Bank of Belgium (NBB) Mr Tom Dechaene and the Head of the Research Department of the NBB, Mr Xavier Debrun. The NBB has been Belgium's central bank since 1850. Mr Hui exchanged with Mr Dechaene on the latest financial developments in both places, and shared Hong Kong's financial regulatory regime for maintaining a stable market.   
      
     Mr Hui also paid a courtesy call on the Chargé d'Affaires ad Interim of the Chinese Mission to the EU, Mr Wang Hongjian. Mr Hui told Mr Wang that Hong Kong has advanced towards the new stage from stability to prosperity, after resuming connections with the Mainland and other parts of the world.
      
     During the day, Mr Hui visited FIRe Innovation Hub, the major hub dedicated to digital finance including fintech, insurtech and regtech located in the heart of Brussels. The visit was arranged by Fintech Belgium, which aims to foster partnerships with companies involved in the financial services industries.
      
     Mr Hui will continue his visit to Brussels on April 14 (Brussels time).

Ends/Friday, April 14, 2023
Issued at HKT 11:30

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