With strong collaboration with the cities in the Guangdong-Hong Kong-Macao Greater Bay Area, which boasts robust innovation and technology industrial chains, Hong Kong holds tremendous development potential and is a worthwhile investment destination, the special administrative region’s finance chief said on Wednesday.
Paul Chan Mo-po made the statement while delivering a speech at the "2026 Davos-Caixin CEO Luncheon" themed "Beyond Old Models: Designing Growth That Works" during the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.
He introduced the steady progress the SAR has made over the past year or two, sharing the city's development vision and strategic positioning in its three key growth engines — finance, trade as well as innovation and technology.
Stressing that breakthroughs in technologies such as artificial intelligence and blockchain are driving profound industrial transformation and economic growth, the financial secretary said all economies must embrace these developments.
International trade is undergoing a paradigm shift and developed countries must be aware that the traditional development model of producing and exporting low-cost goods, previously dominant among developing economies, is evolving, he added.
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Citing China’s example, he said the country is advancing high-level, two-way opening-up and driving its economy with a focus on expanding domestic demand, which not only injects momentum into China's high-quality development, but also creates vast market opportunities for quality goods and services from across the globe, fostering shared prosperity.
Hong Kong, under the "one country, two systems", is actively exploring and piloting initiatives in financial and technological innovation, added Chan.
While attending a business exchange session of the WEF Annual Meeting, he interacted with nearly 100 leaders from various sectors and regions. The discussion covered topics such as the outlook for the United States and global economies, strategies to enhance economic resilience, and ways to promote growth, according to a government press release.
Chan also held bilateral meetings with the Deputy Prime Minister of Cambodia Sun Chanthol and Minister of State for Financial Affairs of the United Arab Emirates Mohamed bin Hadi Al Hussaini.
They exchanged views on the global economic and trade landscape and matters of mutual interest, and explored ways to strengthen bilateral economic and trade cooperation.
During a meeting with Gong Yingying, the chairlady and founder of medical technology company Yidu Tech, he encouraged the company to consider expanding its business to Hong Kong.
Attending a dinner themed "China in Focus", he shared his views on the country’s development, international relations, and capital market developments in both the Chinese mainland and the HKSAR.
