Paul Chan: Financial development must serve the real economy; Hong Kong will focus on building the "four centers and one highland."

Hong Kong Financial Secretary Paul Chan Mo-po today continued his visit to Bangkok, Thailand, attending the plenary session of the International Monetary Fund (IMF) and World Bank Group Annual Meetings as a member of the China delegation. Paul Chan Mo-po explained how Hong Kong's first Five-Year Plan aligns with the national 15th Five-Year Plan, providing clear development directions and goals for residents and businesses. He said Hong Kong will focus on building the "four centers and one highland," consolidating and enhancing its status as an international financial, shipping, and trade center, and leveraging its own advantages to develop in coordination with sister cities in the Greater Bay Area to promote the development of an innovation and technology center. Paul Chan Mo-po emphasized that financial development must serve the real economy. Hong Kong will deepen "finance plus," using finance to empower different industries, support enterprise upgrading and transformation, and provide venture capital, patient capital, and long-term funds for innovation and technology to accelerate the building of emerging industries. Hong Kong will also continue to enrich financial products and services, develop commodity trading, optimize the listing regime, and further facilitate financing for technology enterprises. In response to mainland enterprises' needs to expand into overseas markets and restructure production and supply chains, Hong Kong will provide comprehensive support including logistics, supply chain management, trade financing, risk management, and professional services. The government will also proactively align with enterprises' needs through cross-departmental collaboration. He pointed out that internationalization is Hong Kong's core advantage and must be continuously consolidated and enhanced. While strengthening ties with mature markets such as Europe and the United States and pooling international capital, Hong Kong will also deepen cooperation with emerging markets in Southeast Asia, the Middle East, and Central Asia, combining local capital, industries, and development needs to open up two-way investment opportunities. Hong Kong will not only promote commercial exchanges but also leverage its advantages in finance and professional services to support regional infrastructure, supply chain development, and industrial development through green and sustainable finance, trade financing, and more, growing together with regional partners. Paul Chan Mo-po said that "one country, two systems" is Hong Kong's institutional advantage for long-term development, and talent is an important force driving future development. Hong Kong will remain free, open, diverse, and inclusive, welcoming enterprises and talent from around the world to develop in Hong Kong and young people to study in Hong Kong, and encouraging them to become part of the city's future development. Hong Kong will continue to pool international talent, promote cross-regional and cross-cultural exchanges, and further play its role as a bridge connecting the mainland and the world. On digital assets, he said Hong Kong embraces financial innovation with an open attitude, advancing the development of digital asset exchanges and stablecoins and other areas in a steady and prudent manner with equal emphasis on regulation and development, to better serve the real economy. Paul Chan Mo-po also met today with World Bank Managing Director and Chief Administrative Officer Zhang Wencai to exchange views on global and regional economic prospects and deepening cooperation between Hong Kong and the World Bank. Paul Chan Mo-po said Hong Kong can combine its advantages in capital markets and professional services with the project experience and networks of multilateral development institutions to mobilize more private market and philanthropic capital to participate in regional infrastructure and sustainable development projects, and enhance projects' financing and risk management capabilities through various financial instruments. Paul Chan Mo-po also met with the head of a major European digital bank to exchange views on financial technology development, digital banking services, and cross-border payments, and introduced Hong Kong's financial market development opportunities. He said Hong Kong welcomes the bank to develop in Hong Kong, making good use of the city's vibrant financial services ecosystem, well-established financial infrastructure, professional talent, and international networks to explore innovative financial services and expand business in the region. Paul Chan Mo-po will continue his itinerary in Bangkok tomorrow morning, then depart for Hong Kong and arrive back in Hong Kong in the afternoon.