The Zhitong Finance App learned that Hong Kong Financial Secretary Chen Maobo continued his visit to Bangkok, Thailand today to attend the plenary sessions of the International Monetary Fund (IMF) and World Bank Group annual meetings as a member of the Chinese delegation. Chen Maobo explained how Hong Kong's first “Five-Year Plan” is in line with the country's “15th Five-Year Plan” to provide citizens and enterprises with clear development directions and goals. He said that Hong Kong will focus on the construction of “four centers, one highland”, consolidate and enhance its status as an international financial, shipping and trade center, and use its advantages to develop in partnership with sister cities in the Greater Bay Area to promote the construction of an innovative technology center.
Chen Maobo emphasized that financial development must serve the real economy. Hong Kong will deepen “finance +”, use finance to empower different industries, support enterprise upgrading and transformation, and provide venture capital, patient capital and long-term capital for innovative technology to accelerate the construction of emerging industries. Hong Kong will also continue to enrich financial products and services, develop commodity trading, optimize the listing system, and further facilitate financing for technology companies. Facing the needs of mainland enterprises to expand overseas markets and restructure production and supply chains, Hong Kong will provide comprehensive support such as logistics, supply chain management, trade finance, risk management and professional services. The Government will also actively meet the needs of enterprises through cross-departmental collaboration.
He pointed out that internationalization is Hong Kong's core advantage and must continue to be consolidated and upgraded. While strengthening ties with mature markets such as Europe and the US and gathering international capital, Hong Kong will also deepen cooperation with emerging markets such as Southeast Asia, the Middle East, and Central Asia, and explore two-way investment opportunities in line with the capital, industry and development needs of various regions. Hong Kong will not only promote trade exchanges, but also make full use of its financial and professional service advantages to support regional infrastructure, supply chain construction and industrial development through green and sustainable finance, trade finance, etc., and grow with partners in the region.
Chen Maobo said that “one country, two systems” is an institutional advantage for Hong Kong's long-term development, and talent is an important driving force for future development. Hong Kong will maintain freedom, openness, diversity and inclusiveness. We welcome enterprises and talents from all over the world to develop in Hong Kong, young people to study in Hong Kong, and encourage them to be part of the city's future development. Hong Kong will continue to gather international talents, promote cross-regional and cross-cultural exchanges, and further play its role in connecting the mainland and the world.
In terms of digital assets, he said that Hong Kong embraces financial innovation with an open attitude, steadily promotes the development of digital asset exchanges and stablecoins with an attitude of equal emphasis on regulation and development, and better serves the real economy.
Chen Maobo also met with World Bank Executive Vice President and Chief Executive Zhang Wencai today to exchange views on global and regional economic prospects and deepening cooperation between Hong Kong and the World Bank. Chen Maobo said that Hong Kong can combine the advantages of capital markets and professional services, cooperate with the project experience and networks of multilateral development agencies, promote more private market and philanthropic funds to participate in infrastructure and sustainable development projects in the region, and enhance project financing and risk management capabilities through various financial instruments.
Chen Maobo also met with the head of a major European digital bank to discuss topics such as fintech development, digital banking services and cross-border payments, and to introduce development opportunities in Hong Kong's financial market. He said that Hong Kong welcomes each other to develop in Hong Kong, make good use of Hong Kong's booming financial services ecosystem, perfect financial infrastructure, professional talents and international network to explore innovative financial services and expand business in the region.
Chen Maobo will continue his trip in Bangkok tomorrow morning, then depart back to Hong Kong and return to Hong Kong in the afternoon.