Paul Chan highlights Hong Kong’s unique edge in challenging geopolitical times
Hong Kong unveils first comprehensive report in four years on city’s overall business environment to attract investors
Hong Kong will achieve new economic breakthroughs despite a “complicated and volatile” external environment, the finance chief has said while unveiling the government’s first business report in four years to attract investors.
Financial Secretary Paul Chan Mo-po said on Wednesday that the city was in the midst of transformation and upgrading, but warned that some traditional industries would struggle more than others.
Overseas misperceptions about Hong Kong had prompted the government to detail the city’s latest economic situation in the report, which is accessible online to investors abroad.
“With a complicated and volatile external environment, Hong Kong is undergoing economic upgrading and transformation, but we see more opportunities than challenges,” Chan said.
“As long as we seek and embrace changes proactively, we will surely achieve new breakthroughs, develop new growth points, and create a new chapter for Hong Kong.”
The report cited Chinese President Xi Jinping’s backing of Hong Kong’s one country, two systems governing principle, which it called a cornerstone of the city’s long-term prosperity and stability, as well as a pillar supporting further development.