The Secretary for Financial Services and the Treasury, Mr Christopher Hui, highlighted that Hong Kong is acting positively towards the reconfiguration of global value chains amid a world with complex global challenges when he attended the Governors' Plenary at the 59th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) held in Samarkand, Uzbekistan, on May 5 (Samarkand time).
      
     The Governors' Plenary has its theme set as "Shifting Global Value Chains, Technology and Inclusive Growth". Addressing the Plenary, Mr Hui said that Hong Kong has been diversifying its markets and promoting enhanced co-operation between Hong Kong and other global partners. The city's stellar performance in capital formation attracted various companies to opt for Hong Kong for secondary listings. Currently, Hong Kong is proactively developing new industries to serve as new engines for economic growth while enhancing the competitiveness of traditional industries with better use of technology, with a view to boosting long-term and healthy economic development.
      
     On the sidelines of the Annual Meeting, Mr Hui had a meeting with the Alternate Executive Director representing Hong Kong, China's constituency in the ADB Board of Directors, Ms Lisa Wright. They had a fruitful discussion on areas where the ADB and member countries can take advantage of Hong Kong's financial markets and professional services, including issuing catastrophe bonds as Hong Kong is consolidating its position as a global risk management centre. Mr Hui mentioned that two catastrophe bonds issued by the World Bank had already been listed in Hong Kong. While Hong Kong remains one of the world's largest equity fundraising centres and a leading hub for arranging Asian international bond issuance, the Government is also keen to promote the wider adoption of tokenisation in the bond market, especially in green bonds which the ADB can leverage to raise funds. Separately, Hong Kong is definitely an ideal place for the ADB to pursue quality procurement.
      
     Mr Hui also held a series of meetings with representatives of several member countries. Among them were the Deputy Director-General and Head of Department for Multilateral Development Banks, Sustainability and Climate of the Ministry for Foreign Affairs, Sweden, Mr Tobias Axerup, and the Deputy Secretary to the Treasury, Ministry of Finance, Planning and Economic Development of Sri Lanka, Mr Anura Hapugala. Mr Hui expressed to them Hong Kong's determination in fostering closer international economic and trade ties. He also elaborated to them the benefits that would be brought to the business communities of both economies by commencing negotiations on a Comprehensive Avoidance of Double Taxation Agreement (CDTA) with Hong Kong. The parties also touched on Hong Kong's strong legal and financial professions and the utilisation of the city as a neutral platform for facilitating financial mediation and issuing green bonds.
      
     During his meeting with the Director of the Center for Regional and Bilateral Policy in the Fiscal Policy Agency of the Ministry of Finance, Indonesia, Ms Yogi Rahmayanti, Mr Hui said that Asia accounts for 60 per cent of the world's annual gold demand, with its investment demand increasing in recent years. Global central banks are also making net gold purchases as a tool for long-term value preservation and investment risk diversification. Amid the increasingly complicated geopolitics, Hong Kong's security and stability give the city a clear edge as an attractive place for physical gold storage, driving more gold trading, settlement and delivery activities. Riding on an array of initiatives by the Hong Kong Special Administrative Region Government to build the city into an international gold trading centre, Indonesia can make use of the opportunity to work together with Hong Kong in establishing a gold ecosystem in Asia.
      
     While meeting with the Head of Division (Regional Development Banks) of the Federal Ministry for Economic Cooperation and Development, Germany, Dr Wolfram Morgenroth-Klein, Mr Hui mentioned that Hong Kong is one of the top three international financial centres and has put forward new moves to expand the financial value chains so as to consolidate the position. Germany is welcome to build closer ties with Hong Kong through financial co-operation, including considering the early commencement of negotiations on a CDTA and exploration of co-operation in the gold industry.
      
     In the evening, Mr Hui returned to Tashkent, the capital of Uzbekistan, for meetings with Uzbek financial institutions, as well as the Chinese Embassy in Uzbekistan on the next day (May 6).

Ends/Wednesday, May 6, 2026
Issued at HKT 12:43

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