Hong Kong Finance Chief Pitches Entrepreneurial Edge to US

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During his visit to the United States, Finance Secretary of Hong Kong Paul Chan made a compelling case for the city’s entrepreneurial dynamism, openness, and diversity, presenting it as a prime destination for US businesses considering expansion into mainland China and North Asia.

Chan’s remarks were made during a lunch event in San Francisco, where he emphasised Hong Kong’s unique advantages over Singapore, particularly in terms of entrepreneurship and innovation. He highlighted the city’s vibrant entrepreneurial spirit and diverse lifestyle, inviting US firms to explore tailored investment opportunities.

At the event, a memorandum of understanding was signed between InvestHK and the Bay Area Council, focusing on joint promotion of investment, with an emphasis on green finance and sustainable development initiatives.

Chan underscored Hong Kong’s pivotal role as a gateway to mainland China and Asian markets, offering convenience and priority access while preserving international character and facets. He emphasised the mobility of talent, goods, and data, positioning Hong Kong as an ideal springboard for businesses looking to tap into these markets.

The visit to San Francisco concludes a joint delegation’s tour, comprising senior officials from Hong Kong, Macau, and Guangdong province, aimed at promoting business opportunities in the Greater Bay Area. This initiative aligns with Beijing’s plan to transform the region into a hi-tech economic powerhouse by 2025.

Despite ongoing challenges in the global economy, including weak business confidence and a property market downturn, Hong Kong continues to position itself as an attractive destination for foreign investment, leveraging its strategic location, vibrant business environment, and robust financial market infrastructure.