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Published: 16:38, October 05, 2022 | Updated: 16:59, October 05, 2022
Chan: Upcoming global financial summit in HK to be a success
By Zhang Tianyuan
Published:16:38, October 05, 2022 Updated:16:59, October 05, 2022 By Zhang Tianyuan

Financial Secretary Paul Chan Mo-po (right) speaks to members of the media after the antechamber exchange session with the lawmakers at the Legislative Council on Oct 5, 2022. (CALVIN NG / CHINA DAILY)

Financial Secretary Paul Chan Mo-po expressed confidence on Wednesday that the global financial leaders’ investment summit in November will be a success, as the city’s “precise” anti-pandemic measures have tamped down COVID-19 infections.

Chan made the prediction after the third Legislative Council antechamber meeting between legislators and administration officials.

Chan said the planned summit has received a positive response since the 2022-23 Budget unveiled plans for the global conference, which is expected to attract representatives of over 100 financial institutions from both the Chinese mainland and overseas.

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“Some financial professionals even took the initiative to request participation in the summit,” he said. “I am confident that it will be held successfully.”

The Hong Kong Special Administrative Region government has implemented a tier-based health-code system to limit the movement of COVID-19 patients and overseas arrivals, and Chan said the anti-pandemic work has achieved remarkable results. The number of new positive cases dropped to 3,286 on Tuesday, as the number of daily cases continued to decrease.

Financial Secretary Paul Chan Mo-po speaks to members of the media after the antechamber exchange session with the lawmakers at the Legislative Council on Oct 5, 2022. (CALVIN NG / CHINA DAILY)

“We will make full efforts to push social and economic activities back to normal while ensuring our residents’ health,” he said.

Chan’s remarks came as some health experts predicted that Hong Kong will further lift travel curbs to a “0+0” model — with neither quarantine nor “medical surveillance” required for overseas arrivals. The current “0+3” model requires arrivals to undergo only three days of medical surveillance without the previously mandated stay in a quarantine hotel.

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Financial Secretary Paul Chan Mo-po said topics discussed during the third closed-door meeting, which he headed, focused on Hong Kong’s land and housing supply, transportation and logistics issues, and financial innovation and economic development

Chan said topics discussed during the third closed-door meeting, which he headed, focused on Hong Kong’s land and housing supply, transportation and logistics issues, and financial innovation and economic development.

External factors, including the continuing appreciation of the US dollar and the Russia-Ukraine conflict, have weighed on Hong Kong’s exports and financial markets, Chan said. “The (economic) outlook in the coming year is still challenging,” he said.

But Chan remains upbeat about the economy in the medium to long term, given the development of the Guangdong-Hong Kong-Macao Greater Bay Area, and proactive economy-stimulating measures planned by the HKSAR government.

Chan also said that in about two weeks, Chief Executive John Lee Ka-chiu will announce measures in his first Policy Address to attract investments and talent.

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He said that government officials exchanged views with over 70 legislators during the antechamber meeting so that the administration could implement policies more “appropriately” after understanding the needs of various sectors.

"Financial Secretary Paul Chan Mo-po (front row, seventh right) attends the antechamber exchange session with lawmakers at Legislative Council on Oct 5, 2022. (CALVIN NG / CHINA DAILY)

Besides Chan, Hong Kong Monetary Authority Chief Executive Eddie Yue Wai-man, Deputy Financial Secretary Michael Wong Wai-lun, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu, and Housing Secretary Winnie Ho Wing-yin also attended the meeting.

The monthly antechamber, proposed by Lee, aims to promote mutual understanding and build rapport between legislators and government officials.

The first antechamber meeting was held in July. The third was postponed for weeks because of the rising number of daily COVID-19 infections in early September.

tianyuanzhang@chinadailyhk.com




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