Continuing his visit to New York, Hong Kong's Financial Secretary, Paul Chan Mo-po, shared updates on the city's economic progress and engaged in detailed discussions with representatives from US-based asset management firms and fund managers.
On the second day of his trip, Chan attended a luncheon organized by the National Committee on United States–China Relations (NCUSCR) and the Hong Kong Economic and Trade Office in New York. The luncheon was attended by more than a dozen prominent leaders from the US financial, investment, pharmaceutical, creative, and think tank sectors.
Chan briefed the attendees on Hong Kong's strategies to bolster its financial market, promote innovation and technology, support overall development, and enhance regional supply chain connectivity. He encouraged US businesses and professionals to utilize Hong Kong as a key access point to the Chinese and broader Asian markets.
Despite the increasing trade tensions, Chan emphasized Hong Kong's commitment to maintaining its status as a free port and upholding a free and open trade policy.
The Financial Secretary also visited the United Nations (UN) and met with Ambassador Fu Cong, the Permanent Representative of China to the UN. He expressed his appreciation for Beijing's support in enabling young Hong Kong civil servants to participate in the UN Junior Professional Officer Program, allowing them to gain experience within the UN system as Chinese nationals.
Following this, he met with Chen Li, the Consul-General of China in New York, to discuss China-US relations and Hong Kong's development.
During a roundtable discussion with leading US funds and asset management representatives, Chan presented Hong Kong's economic and financial outlook. He emphasized the opportunities available in the financial market, including initial public offerings (IPOs) and subsequent fund raising, fixed income and currency markets, private equity, asset and wealth management, green finance, stablecoins, and digital assets.
Chan noted the encouraging momentum in Hong Kong's asset markets. He highlighted the significant upturn in the stock market, driven by investor confidence in China's technological advancements and increased capital allocations. He also mentioned signs of stabilization in the residential property market.