Hong Kong ‘more than China’s financial testing ground’, Paul Chan says
Finance chief says Hong Kong is driving country’s development, calls on city to ‘get empowered’ by AI
Hong Kong is not merely China’s testing ground but also a key driver of the country’s development, the finance chief has said, underscoring the city’s role as the nation’s international financial centre.
Financial Secretary Paul Chan Mo-po also said on Monday that Hong Kong must move swiftly to embrace artificial intelligence (AI) and “get empowered” in its use, as the opportunities it brought outweighed potential job losses.
Speaking at the “Redefining Hong Kong 2026: Budget Edition” conference organised by the South China Morning Post, Chan also dismissed suggestions of any “reckless” use of the Exchange Fund.
Asked about the role of Hong Kong in China’s broader development strategy, Chan said the city was “more than just” the country’s financial sandbox – a space where software or new technology can be tried out in a pilot scheme or test environment.
“We are also a driver for the country’s development,” he said. “A strong country must have a very strong international financial centre, and here, I underscore ‘international’.”
Chan said Hong Kong served as a “testing field” for the mainland to open up its market, citing initiatives such as the city’s push into digital assets.
Asked whether Hong Kong could be further exposed to attempts by the United States to constrain the city, Chan did not mention the country directly but said “different people” were watching the city.