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Friday, September 2, 2016, 15:48

Tsang hopeful G20 to bring new opportunities

By chinadailyasia.com

Tsang hopeful G20 to bring new opportunities
Hong Kong's Finance Secretary John Tsang attends a Hong Kong-Paris financial seminar organized by Europlace, an organization promoting Paris' financial markets, on Nov 21, 2013, in Paris. (AFP PHOTO / ERIC PIERMONT)

HONG KONG - Financial Secretary John Tsang Chun-wah said Friday he will be busy in the week ahead at the G20 Summit, in Hangzhou, seeking every possible opportunity for Hong Kong.

China is hosting the G20, an international forum for leaders of 20 major economies - 19 countries and European Union, for the first time this year. Hangzhou, the traditional Chinese tourism city in Zhejiang province, was chosen as the host venue owing to its leading role in the country in adoption of cutting-edge technologies, especially in the coverage of mobile payments. It is also the headquarter of China's e-commerce giant - Alibaba, founded by Jack Ma. Alipay - a mobile payment application invented and owned by Alibaba, was recently given a greenlight to extend its business in Hong Kong, together with another Chinese leading player - Wechat pay, established by Tencent, Chinese messenger giant.

"I will seize every possible opportunity to conduct bilateral meetings with other countries during the summit," he said, adding, "this demonstrates the successful implementation of the 'One Country, Two Systems' principle, which allows the city to conduct relevant affairs on its own."

It's a valuable opportunity for the SAR to get a close look at the direction of international policy, as China-based themes take center stage during summit discussions, Tsang said.

Tsang says he has yet to arrange any meetings with international leaders during the summit, but he will be pleased to update any foreign leaders who have time to listen about opportunities in Hong Kong.

Tsang will attend the Business 20 Summit on Saturday and the G20 Leaders' Summit on Sunday and next Monday in Hangzhou as part of China’s delegation.

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