Patches of white clouds adorn the sky as the afternoon light is reflected on some skyscrapers on the northwestern tip of Hong Kong Island on Aug 16, 2023. (SHAMIM ASHRAF / CHINA DAILY)

Hong Kong is moving full steam ahead to become a global hub for green technology and green finance, with a series of sustainability-themed events this month to drive its goals to new heights.

“Our goal is to accelerate the development of the green industry through innovative green technologies and leverage green finance as a catalyst to serve the needs of the real economy’s green transformation,” Financial Secretary Paul Chan Mo-po said in his blog on Sunday.

The special administrative region will host the inaugural “Hong Kong Green Week” on Feb 26, integrating the two main themes of green technology and green finance. There will be more than 10 forums and activities of various formats to be held over six days.

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Kicking off the sustainability-themed week is the Hong Kong Greentech Summit, bringing together experts and industry representatives from across the globe to discuss the latest developments and applications of green technology. It will also feature an exhibition area for dozens of start-ups engaged in cutting-edge green technology to showcase their products.

Whether it’s green development, life and health, or pharmaceutical research and development, all of these are important directions in Hong Kong’s industry-oriented development strategy, which will bring new momentum and increments to economic growth.

Paul Chan Mo-po, Financial Secretary of the HKSAR Government

“The summit aims to broaden our horizons and promote cross-sector collaborations,” Chan said.

During the green week, there will be a new energy bus experience day, with participating citizens taking a free ride on electric-powered buses along designated routes, while exhibitions, educational booths and workshops will deepen public understanding of low-carbon transportation.

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The activity dovetails with Hong Kong's bid to achieve zero vehicular emissions and carbon neutrality. In 2021, the SAR government unveiled the “Hong Kong Roadmap on Popularization of Electric Vehicles, Clean Air Plan for Hong Kong 2035”, and the “Climate Action Plan 2050”, covering policy directions and future targets in various areas to promote the adoption of new energy transport technologies.

Another highlight will be the three-day “Climate Business Forum: Asia Pacific”, co-organized by the Hong Kong Monetary Authority and the International Finance Corporation -- a member of the World Bank Group.

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The event will gather political and business heavyweights from the Asia-Pacific region, who will delve into key steps in financing, and cover important topics such as carbon markets, supply chains, and green finance for the transition. It is aimed at facilitating more inclusive green development in the Asia-Pacific region.

For Hong Kong officials, the development of a green economy is a key part of efforts of the “industry-oriented strategy” to drive the city’s growth through innovative technologies.

“Our goal is to explore potential new areas that can contribute to the high-quality development of Hong Kong’s economy,” Chan said. 

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“Whether it’s green development, life and health, or pharmaceutical research and development, all of these are important directions in Hong Kong’s industry-oriented development strategy, which will bring new momentum and increments to economic growth,” he said.