Hong Kong can be more than New York and Silicon Valley combined: Paul Chan
Finance chief touts city’s advanced manufacturing capability through Greater Bay Area integration, which he says US rivals lack
Speaking at the Caixin Summer Summit, Chan said Hong Kong’s core advantage was its role as a bridge between mainland China and international markets, offering geographic proximity, cultural affinity and a deeper understanding of Beijing’s policy direction.
But the finance chief added that the city needed to add value to its own development and for younger generations, rather than simply serving as a bridge.
For example, if Hong Kong could further integrate with the bay area to develop its innovation and technology (I&T) sector, the city would be in a competitive position that neither New York nor Silicon Valley could replicate, he said.
In his budget speech in February, Chan outlined a dual “Finance+” and “AI+” strategic framework to deploy capital market infrastructure to fund technology development, while using artificial intelligence to boost productivity across industries.
