Financial Secretary Welcomes Global Leaders at Hong Kong Investment Summit Dinner

Speech by FS at 2024 Global Financial Leaders' Investment Summit Welcome Dinner

Following is the speech by the Financial Secretary, Mr Paul Chan, at the 2024 Global Financial Leaders' Investment Summit Welcome Dinner today (November 18):

Eddie (Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Yue), distinguished guests, ladies and gentlemen,

Good evening.

It's a pleasure to be here, with you, tonight, at the welcome dinner for this year's Global Financial Leaders' Investment Summit.

I hope you enjoyed this evening's innovatively arranged East-West dinner as well as entertainment. The culinary delights, paired with the enchanting performances, are meant to bring you a refreshing experience with a unique blend of East and West cultures.

But above all, it is your very presence that is the vital ingredient that truly brings out this international flavour, infusing the evening, and indeed our Summit, with a rich tapestry of diversity and warmth.

Because, of course, this is a "global" summit – an East-West coming together here in Hong Kong – and has been since the first edition, two years ago.

And because Hong Kong, thanks to the "one country, two systems" principle, is a global financial centre, a "super connector" bridging East and West: in business, trade and finance, in culture and education, and in the people of Hong Kong, who make it all happen.

Tonight's venue, Cloud 39 at The Henderson, reflects the boundless promise that unique reality presents. This stunning new addition to Hong Kong's skyline offers more than sweeping, 270-degree views. With its curved façade, inspired by the bauhinia flower, it encapsulates Hong Kong: our innovation, our longstanding resilience and our singular identity.

"Sailing through Changes" is the apt and timely theme of this year's Summit. When the wind is good, the sailing is breezy – a buoyant sport and rewarding pastime. But in times like today's – with our world shaped and reshaped by macroeconomic shifts, the unceasing advances of technology and geopolitical ruptures, the sailing can be bumpy and fraught with uncertainty.

Globally, elections impacted more than half the world's population this year. The results will recast political and economic landscapes for the foreseeable future.

They will influence trade and investment flows and financial and political policy. Navigating these, and other uncharted waters, will require determined and interconnected financial systems – demand co-operation and collaboration rooted in multilateralism rather than isolationism.

That's where tomorrow's Summit comes in. Where you come in. I'm confident that, working together, we can explore, and respond to, the latest trends and concerns shaping finance. That we can forge the partnerships, East and West, that will help us build a mutually rewarding and sustainable future.

My thanks to the Hong Kong Monetary Authority for organising this year's Summit. I'm grateful, too, to all the many supporting organisations involved.

And, of course, my gratitude to each of you for making this year's Hong Kong Summit an essential global gathering.

Ladies and gentlemen, I wish you the best of business and investment, and an enjoyable stay in Hong Kong, this lovable Asia's world city.

Thank you.

Speech by FS at 2024 Global Financial Leaders' Investment Summit Welcome Dinner Source: HKSAR Government Press Releases

LegCo Panel on Environmental Affairs visits Black Point Power Station of CLP Power Hong Kong Limited

The following is issued on behalf of the Legislative Council Secretariat:

The Legislative Council (LegCo) Panel on Environmental Affairs visited Black Point Power Station of CLP Power Hong Kong Limited (CLP) at Tuen Mun today (November 18) to learn about the operation of the power station, the CLP's decarbonisation roadmap, as well as the mitigation measures taken to cope with extreme weather.

Members first received a briefing by the CLP management on the operation of Black Point Power Station as well as the progress of its "Climate Vision 2050" decarbonisation targets. Members noted that the second new gas-fired generation unit at Black Point Power Station has been commissioned this year, increasing the CLP's local gas-fired generation ratio. The CLP has been working to gradually phase out coal-fired generation and explore new technologies to align with the Government's net-zero electricity generation decarbonisation strategy, aiming to achieve carbon neutrality before 2050.

Members then observed the drones and robotics technology, including the cage drone and the crawler robot, utilised at Black Point Power Station to mitigate the risks faced by staff working at height and confined spaces.

In addition, Members learned about the CLP's enhanced measures against extreme weather, including line arresters, raised-floor switch rooms, flood gates, sump pumps and flooding alarm systems at power facilities such as power stations and transmission towers. During the visit, Members exchanged views with the CLP representatives on contingency measures to cope with extreme weather, and strengthening stability and reliability of power supply.

Members who participated in the visit were the Chairman of the Panel, Mr Lau Kwok-fan; the Deputy Chairman, Mr Chan Siu-hung; Panel members Mr Gary Zhang; Professor Lau Chi-pang; as well as non-Panel members Mr Michael Tien; Mr Luk Chung-hung; Mr Duncan Chiu; and Mr Benson Luk.

LegCo Panel on Environmental Affairs visits Black Point Power Station of CLP Power Hong Kong Limited Source: HKSAR Government Press Releases

LegCo Panel on Environmental Affairs visits Black Point Power Station of CLP Power Hong Kong Limited Source: HKSAR Government Press Releases

LegCo Panel on Environmental Affairs visits Black Point Power Station of CLP Power Hong Kong Limited Source: HKSAR Government Press Releases