“I want to take this opportunity to tell them that the ‘one country, two systems’ in Hong Kong is going to be there for the long term,” he said, referring to the governing principle adopted upon the city’s return to Chinese rule in 1997.

“It is operating well. The rule of law is there. The freedom of travel, freedom of goods, movement of capital are still there. So this is the first message to get across.”

In addition to promoting the city as a renowned international financial centre, Chan said he would highlight the new opportunities Hong Kong could offer for innovation and technology companies.

The financial secretary said he would encourage US companies to see for themselves the development potential of the city, noting the government was focusing on artificial intelligence and big data analytics, biotechnology and health science, fintech and new materials and advanced manufacturing.

“In these field areas, we do see opportunities for US companies, and we encourage them to come to take a look,” he said.

The minister also expressed confidence that people who had left Hong Kong in recent years would soon return, saying some expats had only moved away due to the travel restrictions, the last of which were dropped at the start of the year.

“For most of the expatriates working in Hong Kong, their responsibilities are regional,” he said. “If they could not travel, they could not perform properly.”

Recalling his trip to Southeast Asian nations in March, he said some expats he met had rediscovered Hong Kong’s advantages in terms of market liquidity, professional services and lifestyle.

“Many of them have indicated they would come back,” he said. “And we’re starting to see people coming.”

Chan also touted the effectiveness of the government’s drive to attract companies and talent, noting 30 firms, 80 per cent of them from the mainland, had pledged to come to Hong Kong. They intended to initially invest about HK$30 billion (US$3.84 billion) and create about 10,000 jobs.

Authorities had also received more than 180,000 applications for various talent recruitment schemes between January and October, and more than 110,000 had been approved, with 70,000 people already in the city, he noted.

Speaking to local media earlier, Chan expressed a wish for greater China-US cooperation, which he said would benefit both regional and global economies.

“I believe everyone across the world is looking forward to President Xi and President Biden’s meeting, and would hope for more dialogue between the two largest economies in the world to discuss cooperation and push for mutual development,” Chan said.

In his pledge to attract more US companies to the city, the financial secretary said he would highlight the advantages of Hong Kong’s business environment and government support for talent and enterprises, emphasising his trip was business in nature.

He also vowed to explore ways to improve cooperation between the city and other economies.

On Tuesday, Chan met representatives from an advanced medical equipment manufacturer, telling executives about the government’s efforts to boost the development of microelectronics and re-industrialisation.

A government spokesman said the minister also told the executives they could bring more companies involved in different parts of their supply chain to Hong Kong, where they could pursue partnerships.

Lee and three other administration officials were sanctioned by the United States over their roles in the introduction of the national security law in 2020, which Washington maintains undermines the city’s autonomy and restricts the rights of residents.

Chan will attend an economic leaders’ meeting on Wednesday, while the leaders’ summit runs from Wednesday to Friday. He returns to Hong Kong on Sunday.