Acting Chief Executive Emphasizes Hong Kong's Role in Global Finance at Investment Summit

Speech by Acting CE at Global Financial Leaders' Investment Summit

Following is the speech by the Acting Chief Executive, Mr Chan Kwok-ki, at the Global Financial Leaders' Investment Summit today (November 19):

The Honourable Vice Premier He Lifeng (Vice-premier of the State Council of the People's Republic of China), Deputy Secretary General Xu Shouben (Deputy Secretary-General of the State Council of the People's Republic of China), Deputy Director Zhou Ji (Executive Deputy Director of Hong Kong and Macao Work Office of the Communist Party of China Central Committee), Director Zheng Yanxiong (Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region (HKSAR)), Minister Li Yunze (Minister of the National Financial Regulatory Administration), Chairman Wu Qing (Chairman of the China Securities Regulatory Commission), Deputy Governor Zhu Hexin (Deputy Governor of the People's Bank of China), Commissioner Cui Jianchun (Commissioner of the Ministry of Foreign Affairs of the People's Republic of China in the HKSAR), Mr Eddie Yue (Chief Executive of the Hong Kong Monetary Authority), distinguished guests from around the world, ladies and gentlemen,

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Good morning. I am delighted to welcome you, financial leaders and innovators all, to Hong Kong, where East meets West, and tradition marries innovation.

I hope you enjoyed last night's welcome dinner, with its breathtaking views. From that rooftop, on a fine day, you can almost see the future. Of course, there are days and nights when you wish for a little more clarity, for a better understanding of where that future precisely lies.

It is much the same, these days and nights, with the global economy. Which is why we are here today. To work together, to help see our way to the flourishing future we all want.

The global financial landscape has witnessed unprecedented shifts in recent years. Geopolitical tensions, economic uncertainties and technological change have created a complex environment for policymakers, investors and companies, large and small, global and local.

And if things were not complicated enough, the election results this year across different parts of the world bring lots of new and uncertain dynamics to the international investment picture.

For Hong Kong, the upside could mean opportunities for growth in emerging sectors such as fintech and green and sustainable finance.

The global push for sustainability is reshaping industries, with green finance and ESG (environmental, social, and governance) considerations becoming integral to investment strategies. Investors are increasingly seeking opportunities that align with sustainable development goals, driving growth in sustainable infrastructure and green technologies.

Green finance is a central policy priority of the Hong Kong Government. Initiatives like the launch of "Core Climate" – our international carbon market – and the Government Sustainable Bond Programme, have strengthened our green agenda.

And the volume of green and sustainable bonds arranged last year in Hong Kong topped the Asian market, accounting for 37 per cent of the total.

China's financial development continues to be a cornerstone of global economic growth. With the support of our country, Hong Kong continues to be the world's largest offshore Renminbi business hub.

As we are working to expand our offerings, providing more diversified, Renminbi-denominated investment products, increasing the issuance of Renminbi bonds and supporting more green and sustainable offshore Renminbi bond issuances in Hong Kong.

We will also boost the Cross-boundary Wealth Management Connect Scheme, and Southbound Trading under Bond Connect. These, and other initiatives, will bolster Hong Kong's status as the premier gateway for investors looking to enter the Mainland market.

Technology is no less central to Hong Kong's future. Artificial intelligence, blockchain and data analytics are enhancing market efficiency and driving financial innovation.

Hong Kong counts about 1 000 fintech companies and start-ups, making financial services more accessible, efficient and user-friendly.

We are also working with financial regulators to provide an enabling regulatory environment.

In August, the HKMA (Hong Kong Monetary Authority) launched a sandbox project to test interbank settlements using tokenised money. And our Securities and Futures Commission will develop a regulatory framework on asset tokenisation to ensure that the assets are traded in a safe and transparent manner.

By capitalising on these and other emerging trends, while navigating their complexities, we are working to build a brighter, more prosperous and sustainable future for all of us.

I know we will make the most of our time here. And while we can only accomplish so much in a few days, I am confident that the insights and experiences we are sharing, the connections we are making, will lead to collective growth, and mutual rewards, long down the road.

My thanks to each and every one of you for your inspiring presence and invaluable involvement.

I wish you all a rewarding Summit and the best of business, and investment, in the coming year. Thank you so much.

Speech by Acting CE at Global Financial Leaders' Investment Summit Source: HKSAR Government Press Releases

Speech by Acting CE at Global Financial Leaders' Investment Summit Source: HKSAR Government Press Releases

Crowd safety management measures and special traffic arrangements at Fanling Golf Course

Police will implement crowd safety management measures and special traffic arrangements to facilitate the holding of a golf tournament at Fanling Golf Course from November 21 (Thursday) to November 24 (Sunday).

A. Crowd safety management measures

As a large number of people is expected, crowd management measures will be implemented at Fanling Golf Course area to maintain public order and safety.

Members of the public are advised to exercise patience and tolerance, follow the instructions of the Police on site, and take heed of directional signs and announcement at scene.

B. Special traffic arrangements

Traffic diversions

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Depending on traffic conditions, the following traffic diversions may be implemented in the morning during the tournament:

- Traffic along westbound Fanling Highway cannot enter Sheung Shui Roundabout via the exit of Route 9, except for public service vehicles;

- Traffic along westbound Po Kin Road cannot turn left to southbound Fan Kam Road;

- Traffic along eastbound Castle Peak Road – Kwu Tung cannot turn right to southbound Fan Kam Road; and

- Traffic along southbound Po Shek Wu Road turning to Sheung Shui Roundabout cannot enter southbound Fan Kam Road, except for public service vehicles.

The above mentioned vehicles will be diverted to westbound Fanling Highway via Sheung Shui Roundabout and make a U-turn at Pak Shek Au, then travel along eastbound Fanling Highway to Sheung Shui Roundabout direction, and will be instructed to enter Sheung Shui Roundabout for southbound Fan Kam Road via the exit of Route 9.

Traffic along northbound Fan Kam Road cannot turn right to the public car park at the Old Course of the Fanling Golf Course and Po Kin Road.

Depending on traffic conditions, the following traffic diversions may be implemented in the afternoon during the tournament:

Traffic along northbound Fan Kam Road must turn right to Po Kin Road.

Prohibition on pick-up and drop-off

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During the tournament, taxis cannot pick up or drop off passengers outside the Fanling Golf Course and along Fan Kam Road. Passengers heading for Fanling Golf Course may alight at Po Kin Road.

The organiser will provide shuttle bus services and designate parking areas for motorists. For details, please visit the event website (www.thehongkongopen.com).

Any vehicles found illegally parked at Fanling Golf Course area during the tournament will be towed away without prior warning, and may be subject to multiple ticketing.

Motorists are advised to avoid using Fan Kam Road near Fanling Golf Course during the tournament to reduce congestion. Actual implementation of the traffic arrangements will be made depending on traffic and crowd conditions in the area. Members of the public are urged to take heed of instructions of police at scene.