Chen Maobo: Hong Kong plays a key role as a "super converter", focusing on expanding into new markets in the Middle East and Southeast Asia.

Hong Kong Financial Secretary Paul Chan Mo-po said that Hong Kong, besides playing the role of a "super connector" and "super value-added person," can also act as a "super converter" to help national standards go international. Using steel as an example, he pointed out that many of the country's standards are globally leading, and Hong Kong can assist in taking national standards overseas, allowing other countries to deepen their understanding of the country's innovative technology. He revealed that the Hong Kong Development Bureau is currently working on related projects, believing that Hong Kong can play the role of a "super converter". Paul Chan Mo-po also emphasized that as an international city, Hong Kong is fully aligned with international standards and has a brand effect. He quoted feedback from Middle Eastern partners, stating that items approved in Hong Kong are also recognized locally. He disclosed plans to lead a delegation to Saudi Arabia later this year to further explore cooperation and mentioned that the Middle East and Southeast Asia are new key markets for Hong Kong to expand into. Economically, Paul Chan Mo-po mentioned that retail sales in Hong Kong have risen year-on-year for 13 consecutive months, and while the catering industry faces challenges, it has stabilized in recent months with an increase of approximately 1%. He pointed out that consumer patterns and demands have shifted, and the government will assist the industry in upgrading and transforming, such as using artificial intelligence in the retail sector to track changing consumer patterns and innovate products. Regarding inflation, he noted that the Middle East conflict is impacting the supply chain and bringing uncertainty, causing inflation to rise in the second half of the year. However, he believes it is manageable, with the inflation rate expected to reach around 2% by the end of the year. The government has introduced support measures for sensitive industries related to energy and will closely monitor and respond to rapid changes. In terms of market expansion, Paul Chan Mo-po mentioned that while Hong Kong's funding sources have mainly been from European and American markets in the past, there is a need to tap into new funds and markets, with the Middle East and Southeast Asia being key target areas. He highlighted the diverse economic development plans in the Middle East, besides the oil industry, presenting business opportunities for professional services and startup companies in Hong Kong such as architecture, surveying, accounting, and law. Despite conflicts in the Middle East, Hong Kong's investment and trade relations remain consistent, as Middle Eastern partners value friendship and trust, requiring efforts to maintain. On the capital market front, he revealed that there are over 500 companies currently applying to list in Hong Kong, with an increasing number of companies related to artificial intelligence and autonomous driving. The Hong Kong Stock Exchange has increased manpower and resources to expedite the approval process for listing applications and will also uphold the quality of listed companies. He believes that international funds will continue to favor the Hong Kong market, thanks to recent policy support from the People's Bank of China. Lastly, Paul Chan Mo-po encouraged young people to focus on green transformation and actively learn about innovative applications such as artificial intelligence to enhance competitiveness in various positions.