Paul Chan: Intensifying Geopolitical Conflicts Should Actively Promote Bilateral and Regional Cooperation

Hong Kong Financial Secretary Paul Chan Mo-po, currently visiting Beijing, stated in his blog that with escalating international geopolitical conflicts and high energy prices, the global economic outlook is becoming more uncertain. To enhance trade flexibility and strengthen supply chain resilience, promoting more active bilateral and regional cooperation has become a common goal worldwide. This is especially important for businesses deploying cross-border operations.

The China Development Forum opened this morning in Beijing. In the afternoon, he will participate in a thematic seminar to share Hong Kong’s contributions to the global green transition, particularly as energy resilience has become an urgent and tangible issue worldwide. Hong Kong’s advantages in green finance and green technology will have broader development opportunities.

Paul Chan said that the China Development Forum gathers hundreds of international business leaders, scholars, and think tank representatives. During his exchanges with guests from different regions and markets, they all recognize Hong Kong’s vibrancy and its strategic opportunities. Amid complex and volatile international geopolitical environments, more investors, capital, and talent see Hong Kong as a rare “safe haven” and investment destination. Capital, enterprises, and talent are accelerating their convergence here.

He cited data showing that Hong Kong’s banking system deposits increased by 11.8% last year and continued to grow at the beginning of this year, surpassing HKD 19 trillion. The average daily trading volume of Hong Kong stocks in the first two months exceeded HKD 260 billion, a 17% increase year-on-year, with several days in March seeing daily averages over HKD 300 billion. The number of mainland and overseas companies establishing offices in Hong Kong grew by 11% last year. In the first two months of this year, nearly 10 million visitors came to Hong Kong, an 18% year-on-year increase, confirming Hong Kong’s unique appeal and international status.

Paul Chan believes that it is crucial to seize the opportunity to accelerate high-quality development so that the international community better understands Hong Kong’s unique advantages and opportunities. This week, Hong Kong will host a series of finance and technology-related conferences, including the 4th “Yuzhou Hong Kong” Summit Forum organized by the SAR government, which will gather decision-makers and family successors from global family offices. They will experience the city’s charm firsthand and explore investment opportunities, further promoting Hong Kong’s development as the world’s largest cross-border asset and wealth management center.

He stated that the government is promoting “AI+” and “Finance+,” strategies that mutually reinforce each other. The development and application of open-source frameworks related to artificial intelligence will help Hong Kong attract global talent and technology. Regarding hardware foundations for open-source frameworks, RISC-V instruction set is seen as the future mainstream. Hong Kong Investment Management Limited, together with several industry-leading companies and institutions, officially established the RISC-V Alliance last week, which will accelerate the construction of related industries and ecosystems and promote international collaboration. Additionally, Agentic AI has recently become a hot topic; Cyberport will hold its first AI Agent Innovation and Security Forum this week to discuss how to ensure application safety and promote healthy development.