Paul Chan at Davos 2024 Highlights the Strategic Economic Development of Hong Kong: Paul Chan, Hong Kong’s Financial Secretary, spoke to the world’s business leaders on January 18, 2024, at the prestigious Caixin CEO Luncheon in Davos. Paul Chan’s address focused mostly on Hong Kong’s strategic economic development in the midst of a complicated global environment, admitting the geopolitical tensions between the US and China and highlighting the significant changes brought about by the digital economy and green transition.
Paul Chan at Davos 2024: Hong Kong – A Valuable Place for Investment
Paul Chan emphasized China—which includes Hong Kong—as the best place to make investments. He cited Premier Li Qiang’s dedication to China’s strategy of industrial and technological cooperation, which strengthens the country’s economic resilience. Chan’s address served as evidence of Hong Kong’s crucial position in China’s 14th Five-Year Plan, which designates Hong Kong as one of the “eight centers” and a focus for development across a range of industries, including technology and finance.
Paul Chan at Davos 2024: Financial Services – An Engine of the Economy
Paul Chan at Davos 2024 emphasized the role that financial services play as an engine of the economy. He especially listed a number of efforts aimed at strengthening Hong Kong’s position as a pioneer in Renminbi internationalization, accelerating the growth of green and sustainable finance, and improving the liquidity and competitiveness of the stock market. Paul Chan at Davos 2024also talked on the licensing of virtual asset exchanges and the ongoing stablecoin consultation with an eye toward the emerging financial innovation industry.
Paul Chan concluded by highlighting Hong Kong’s Talent Scheme, which aims to draw in graduates from universities throughout the world. This effort, which is already exhibiting encouraging signs of success, is to attract the best brains on the planetHong Kong, accelerating the city’s ascent to prominence in innovation and technology worldwide.