​The Financial Secretary, Mr Paul Chan, continued his visit to Washington, DC, the United States (US) yesterday (October 17, Washington time), attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group. He also participated in various events, meeting with leaders in the financial sector, major business representatives and think tank figures to brief them on the latest developments and business environment in Hong Kong.

     In the morning, Mr Chan attended the plenary session of the Annual Meetings. Later, he joined an in-conversation session organised by the Institute of International Finance, a high-level forum attended by senior executives of various international financial institutions. During the session, Mr Chan 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. He also emphasised Hong Kong's encouragement of financial innovation. 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.

     He noted that Hong Kong is continuously reforming its capital markets to facilitate corporate fundraising and enhance market liquidity, thereby attracting high-quality issuers and investors from both local and overseas markets. At the same time, Hong Kong is embracing financial innovation with a prudent approach, promoting the development of digital assets including stablecoins. He also shared initiatives in nurturing patient capital, including the establishment of the Hong Kong Investment Corporation Limited (HKIC), which invests early, in smaller-sized enterprises, and with a long-term perspective. The HKIC also mobilises private capital to support innovation and technology industries. Mr Chan said that the HKIC has so far invested in over 130 projects, and for every $1 invested, it has attracted around $6 in co-investment from the market.

     At noon, Mr Chan attended a business luncheon co-hosted by the US-China Business Council and the Hong Kong Economic and Trade Office in Washington, with over 40 American business leaders in attendance. He delivered a keynote speech, updating participants on Hong Kong's latest economic situation and future development directions, and exchanged views with guests on topics including opportunities in Hong Kong and the Chinese Mainland.

     He stressed that the "one country, two systems" arrangement is a significant advantage for Hong Kong and that the Central 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, under the "one country, two systems" arrangement, Hong Kong is also prudently exploring areas such as digital assets. Regarding innovation and technology development, Hong Kong benefits from access to both Mainland and international data, which is advantageous for research and development activities in sectors like healthcare. This makes Hong Kong particularly attractive to overseas biomedical enterprises.

     Mr Chan reaffirmed that Hong Kong will continue to welcome American businesses and talent to invest and develop their careers in the city.

     Later, Mr Chan attended a roundtable discussion hosted by the US think tank Atlantic Council, where he exchanged views with representatives from multinational corporations, financial institutions, and local think tanks. He briefed them on Hong Kong's current economic and financial conditions, its innovation and technology development, and discussed topics including trade, finance, digital assets and innovation.

     Mr Chan has departed for Hong Kong and will arrive tomorrow morning (October 19).

Ends/Saturday, October 18, 2025
Issued at HKT 10:15

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