Hong Kong's antechamber to be a success, says Finance Secretary

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Hong Kong's antechamber to be a success, says Finance Secretary

Financial Secretary Paul Chan Mo-po right speaks to members of the media after the antechamber exchange session with the lawmakers at the Legislative Council on October 5, 2022. CALVIN NG CHINA DAILY Financial Secretary Paul Chan Mo-po expressed confidence on Wednesday that the global financial leaders investment summit in November will be a success, as the city s precise anti-pandemic measures have tamped down COVID 19 infections.

Chan made a prediction after the third Legislative Council meeting between legislators and administration officials.

Since the 2022 -- 23 budget unveiled plans for the global conference, Chan said that the planned summit has received a positive response, which is expected to attract representatives from over 100 financial institutions from both the Chinese mainland and overseas.

Some financial professionals even took the initiative to request participation in the summit, he said. I am confident that it will be held successfully. The Hong Kong Special Administrative Region government has implemented a health-code system to restrict the movement of COVID 19 patients and overseas arrivals, and Chan said that the anti-pandemic work has achieved remarkable results. The number of new positive cases dropped to 3,286 on Tuesday, as the number of daily cases decreased.

Financial Secretary Paul Chan Mo-po speaks to members of the media after the antechamber exchange session with the lawmakers at the Legislative Council on October 5, 2022. CALVIN NG CHINA DAILY We will make full efforts to push social and economic activities back to normal while ensuring the health of our residents, he said.

Some health experts predicted that Hong Kong would lift travel restrictions to a 0 0 model with neither medical surveillance nor quarantine required for overseas arrivals. The current 0 3 model requires arrivals to undergo only three days of medical surveillance without the previously mandated stay in a quarantine hotel.

During the third closed-door meeting he headed, Chan spoke about Hong Kong's land and housing supply, transportation and logistics issues, financial innovation and economic development.

External factors, including the continuing appreciation of the US dollar and the Russia-Ukraine conflict, have weighed on Hong Kong's exports and financial markets, Chan said. He said that the economic outlook is still challenging in the coming year.

Chan remains optimistic about the economy in the medium to long term, due to the development of the Guangdong-Hong Kong-Macao Greater Bay Area and proactive economy-stimulating measures planned by the HKSAR government.

In the next two weeks, Chief Executive John Lee Ka-chiuLee Ka-chiu will announce measures in his first Policy Address to attract investments and talent.

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After understanding the needs of different sectors, he said that government officials exchanged views with over 70 legislators during the antechamber meeting.

Financial Secretary Paul Chan Mo-po front row, seventh right, attends the antechamber exchange session with lawmakers at the Legislative Council on October 5, 2022. CALVIN NG CHINA DAILY Besides Chan, Hong Kong Monetary Authority Chief Executive Eddie Yue Wai-man, Deputy Financial Secretary Michael Wong Wai-lun, Secretary for Financial Services and Treasury Christopher Hui Ching-yu, and Housing Secretary Winnie Ho Wing-yin also attended the meeting.

The monthly antechamber proposed by Lee is intended to promote mutual understanding and build rapport between legislators and government officials.

The first antechamber meeting was held in July. The third was postponed for weeks because of the rising number of daily COVID 19 infections in early September.