Hong Kong Finance Secretary Paul Chan Mo-po invites ASEAN delegation

Financial Secretary Paul Chan Mo-poChan Mo-po was invited to the Group of Twenty Leaders Summit in Bali, Indonesia last week, as part of the delegation of the People's Republic of China. As Hong Kong resumes international ties and business regains momentum in the city, the government of the special administrative region will plan more trips around the world and seek further opportunities for cooperation, investment and development, Financial Secretary Paul Chan Mo-poChan Mo-po said.

In his official blog, Chan said that there is a need for the Asia-Pacific region to work together to build a stable and smooth industrial supply chain, as well as strengthen economic and trade cooperation in the region, because of geopolitical tensions and changing economic landscape.

Hong Kong can play a better role as a superconnector, talent pooling platform and high value-added service provider, sharing a prosperous future with more Asian countries. Paul Chan Mo-poChan Mo-po, the financial secretary of the Hong Kong Special Administrative Region government, is the financial secretary of the Hong Kong Special Administrative Region.

Global development requires a peaceful and stable international environment. It is necessary for all countries around the world to unite their strengths and make joint efforts to respond to the climate change crisis, whether for stabilizing the economy or responding to the climate change crisis.

Hong Kong can play a better role as a superconnector, a capital and talent pooling platform and a high value-added service provider, sharing a prosperous future with the Association of Southeast Asian Nations and even more Asian countries. ASEAN is Hong Kong's second largest trading partner. Chan said that the SAR government will increase efforts to promote economic and trade cooperation in the future, including joining the Regional Comprehensive Economic Partnership Agreement RCEP as soon as possible.

The effort is timely as Asian growth is expected to reach a turning point in the second quarter of next year as inflationary pressures recede and the US federal funds rate is expected to peak in the first quarter of 2023, according to a UBS 2023 economic outlook released Monday.

The Swiss bank expects that the Asian economy will recover moderately by the middle of 2023, with annual economic growth expected to reach 4.4 percent.

Last week, Chan attended the G 20 summit in Bali, Indonesia, during which he exchanged views with representatives from different regions to strengthen trade ties and enhance business collaboration. He encouraged foreign enterprises to use Hong Kong's platform as an international financial center and business hub to raise capital and expand their business.

The Indonesian Chamber of Commerce and Industry, the largest local business organization, is planning to send a high-level delegation to Hong Kong next year to explore more opportunities for cooperation and development, according to Chan.

Some Indonesian delegates from this meeting were invited to attend the Asian Financial ForumFinancial Forum in January in Hong Kong.