Hong Kong Delegation Engages in COP29 Discussions on Climate Change and Green Finance in Azerbaijan.

SEE begins visit to Azerbaijan

​The Secretary for Environment and Ecology, Mr Tse Chin-wan, joined the Chinese delegationto attend the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) in Azerbaijan.

Upon his arrival in Azerbaijan on November 11 (Azerbaijan time), Mr Tse, together with the Permanent Secretary for Financial Services and the Treasury (Financial Services), Ms Salina Yan, met with the Financial Services Development Council and Friends of the Earth (HK) to learn about the outcomes of the side event jointly organised by the two organisations at the China Pavilion in the venue of the COP29 on the same day. They also discussed issues including green finance, green transformation of economies and international carbon market.

Mr Tse and Ms Yan met with the head of the Chinese delegation, Mr Zhao Yingmin, yesterday morning (November 12, Azerbaijan time) to exchange views on the progress of the COP29, the international carbon market, and the Hong KongSpecial Administrative Region Government's work in combating climate change.

Afterwards, Mr Tse held a bilateral meeting with representatives of Bangkok, a member city of the C40 Cities Climate Leadership Group, to share the strategies and experiences of the two cities in combating climate change and to exchange views on co-operation and exchanges between the two places.

In the afternoon, Mr Tse visited the Garadagh (Area 60) Solar Photovoltaic Power Plant to learn about the strategy and progress of energy transition as well as the latest development of and experience in renewable energy in Azerbaijan.

The Environment and Ecology Bureau and the Hong Kong Observatory will hold a side event titled "Climate Action: From Climate Science to Opportunities to Develop New Energy" at the China Pavilion in today (November 13, Azerbaijan time) afternoon. Mr Tse will attend the side event and deliver an opening speech.

SEE begins visit to Azerbaijan Source: HKSAR Government Press Releases

SEE begins visit to Azerbaijan Source: HKSAR Government Press Releases

SEE begins visit to Azerbaijan Source: HKSAR Government Press Releases

SEE begins visit to Azerbaijan Source: HKSAR Government Press Releases

Remarks by FS at media session (with photo/video)

The Financial Secretary, Mr Paul Chan; the Secretary for Financial Services and the Treasury, Mr Christopher Hui, and the Secretary for Commerce and Economic Development, Mr Algernon Yau, together with the Chief Executive Officer of the Securities and Futures Commission, Ms Julia Leung, and the Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Yue, met the media this evening (April 7). Following are Mr Chan's remarks at the media session:

Reporter: What tools does the Government have to handle the situation of the market and will Hong Kong consider a national team investor equivalent to intervene? Should the markets keep dropping, what is the bottom line for the state of the market before countermeasures will be considered?

Financial Secretary: I think Julia has explained very clearly the situation in the Hong Kong stock market. Basically, the market has been functioning orderly. There are substantial selling but also buying interests. The spread between the two has been very tight, indicating that the buying power remains very strong.

Hong Kong is a free port, and we encourage capital and investors from different parts of the world to take part in our capital market. Over the years, we have been taking a number of measures to enhance the competitiveness and attractiveness of our capital market, no matter whether it is improving the listing regime, lowering the transaction costs, expanding the markets, attracting investors and capital from around the world, or offering new products such as the ETF (exchange-traded fund) listed on the Saudi stock exchange (and investing in the Hong Kong stock market). All in all, we will persistently and consistently push forward initiatives on various fronts. With an expanding market and more participants from different parts of the world, the liquidity and resilience of our market will be enhanced. The resilience of our market has been very strong. We do not think the current volatility in the market warrants the taking of any drastic measures.

(Please also refer to the Chinese portion of the remarks.)

Remarks by FS at media session (with photo/video) Source: HKSAR Government Press Releases