Hong Kong Chief Executive John Lee Ka-chiu delivers a speech via video conference during the Multilateralism and Globalization in an Era of Strategic Competition & Implications for Asia - IFF Hong Kong Conference cum Inaugural Ceremony of IFF Hong Kong Center at the Hong Kong Monetary Authority in IFC on May 5, 2023. (ANDY CHONG / CHINA DAILY)
Global financial and political heavyweights on Friday gathered at the International Finance Forum Hong Kong Conference to promote free-flowing dialogue and multilateral cooperation in the field of global finance.
Hong Kong government officials during the forum made a solid commitment to support multilateralism and global economic cooperation by proactively reaching out to its international partners on multiple fronts.
As one of the world’s most open economies, multilateralism and globalization form part of Hong Kong’s DNA.
John Lee Ka-chiu, Hong Kong chief executive
“We don’t just talk the talk, we also walk the walk,” Chief Executive John Lee Ka-chiu told the forum via a video recording, citing the Hong Kong Special Admirative Region government’s increasing efforts in strengthening ties and seeking partnerships by sending delegations to the Middle East, Southeast Asia, and Europe over the past months.
“As one of the world’s most open economies, multilateralism and globalization form part of Hong Kong’s DNA,” Lee said.
Echoing Lee’s remark, Financial Secretary Paul Chan Mo-po said in his opening speech at the forum that Hong Kong is “firmly committed to free trade, to reducing trade barriers and ensuring the free flow of goods and services, capital and people.”
“As a founding member of the World Trade Organization, Hong Kong is a staunch supporter of the rules-based multilateral trading system, with the WTO at its core,” Chan said.
In a sign of the Asian hub’s steps to promoting regional economic integration gaining pace, Hong Kong is striving for early accession to the Regional Comprehensive Economic Partnership — now the world’s largest free trade agreement.
There is also much Hong Kong can offer in green finance as the world progresses towards carbon neutrality and sets priorities on environmental, social and governance (ESG), Chan added.
According to the finance chief, the green debts issued or arranged in Hong Kong exceeded $80 billion last year. In terms of the amount of international green bonds issued, Hong Kong ranked first in Asia.
Financial Secretary Paul Chan Mo-po delivers a speech during the Multilateralism and Globalization in an Era of Strategic Competition & Implications for Asia - IFF Hong Kong Conference cum Inaugural Ceremony of IFF Hong Kong Center at Hong Kong Monetary Authority in IFC on May 5, 2023. (ANDY CHONG / CHINA DAILY)
The IFF was founded in 2003 by more than 20 countries, regions and international organizations. It is the first time that the high-level finance conference is hosting its international event outside the Chinese mainland.
The event also witnessed the inauguration of the IFF Hong Kong Center, which is the second IFF Center outside the mainland, following the recent opening of a representative office in Washington DC.
The IFF Hong Kong Center will take responsibility for international affairs on behalf of the forum.
