Hong Kong Wraps Up Valuable Participation at WEF Annual Meeting

HONG KONG SAR -
Media OutReach Newswire
- 24 January 2025 - Financial Secretary of the Hong Kong Special Administrative Region (SAR), Paul Chan, wrapped up his participation at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland (January 23) with a flurry of thematic meetings, panel discussions and high-level exchanges with global political, business and financial leaders.


As a panelist for a discussion session titled "Stemming Financial Fragmentation", Mr Chan noted that while geopolitics may subject regional and global financial markets to greater volatility, Hong Kong boasts a robust financial system and strong buffer, maintains a free and open business environment, and steadfastly upholds the linked exchange rate system.



He added that Hong Kong is actively embracing financial innovation, including the development of digital assets, with appropriate regulations in place to promote the responsible and sustainable growth.




In support of the city's efforts to develop trade relations with "Global South" countries, Mr Chan held bilateral discussions with the Minister of Investment of Saudi Arabia, Khalid Al-Falih, and the Minister of Finance of Egypt, Ahmed Kouchouk, and invited them to lead business delegations to Hong Kong to explore mutually beneficial co-operation opportunities.


Mr Chan also met with the President and the Chief Executive Officer of Franklin Templeton, Jenny Johnson, to discuss the business expansion plans of the international fund group in the region.


A day earlier (January 22), Mr Chan met representatives from Coinbase, a United States cryptocurrency exchange platform, to learn about the company's latest business development and exchange views on global trends and regulatory policies concerning digital assets.




Other bilateral meeting included those with the Minister of Finance of Qatar, Ali bin Ahmed Al-Kuwari, and the State Secretary for International Finance, Federal Department of Finance of Switzerland, Daniela Stoffel, respectively. Exchanges focused on the latest global economic and financial landscapes and ways to enhance co-operation between Hong Kong and both economies in trade, financial services and infrastructure.




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