Hong Kong News-Expo Forum “New Opportunities in Financial Development and New Path Enabled by Technology”

The Hong Kong News-Expo held its “Sixth Anniversary Commemorative Stamp Design Competition Awards Ceremony” and the “New Opportunities in Financial Development and New Path Enabled by Technology” forum on April 5, and invited Mr Paul Chan Mo-po, Financial Secretary of the HKSAR to officiate the ceremony and speak at the financial forum. The event attracted around a hundred guests from the education, media and other sectors.

The inconsistent policies of U.S. President Donald Trump since he took office again, bringing uncertainties to the international financial market. According to Mr Paul Chan, we need to build up a monitoring mechanism to identify risks early and provide larger buffers on Hong Kong. On Hong Kong’s financial situation, he said, “Hong Kong’s fiscal deficit is not severe, hence citizens need not worry excessively. We anticipate that Hong Kong’s operating accounts will be roughly balanced in 2025-26, and the revenue from stamp duties based on current stock transactions should be sufficient to cover the deficit in our operating accounts”, he added.

Mr Paul Chan also believed that Hong Kong should draw up its bottom line and prepare for various contingencies, encouraging local businesses to explore new markets beyond Europe and America. The government will also strengthen its support for businesses by providing funding for potential cash flow problems, including guarantees for loans offered to small and medium-sized enterprise.”

In addition, he affirmed that Hong Kong has advantages in developing algorithms and analysing data for the development of artificial intelligence, which can attract international talents to work in our city. In the future, the government will strive to enhance our youth’s exposure to innovative technology, so that they can understand how these advancements relate to their daily life.

The recent announcement of tariffs imposed by the United States could lead to high inflation and even stagflation, significantly impacting the global economy. However, Mr Paul Chan noted that foreign companies view the mainland and Hong Kong differently, hoping to invest in the mainland market, particularly the development of artificial intelligence.

In terms of tourism, Mr Paul Chan stated that the number of visitors to Hong Kong this year has reached to 12.2 million, reflecting a 9% year-on-year rise, with international tourists growing by 18%, boosting our economy. The various international events held in March also received a positive response. However, he emphasised that all sectors in Hong Kong still face challenges and must “recognise changes, adapt to changes, and seek changes.”

After the forum, Mr Paul Chan visited two new thematic exhibitions in the News-Expo. “Promote New Quality Productive Forces and Embrace Opportunities in the GBA” introduces to the public how Hong Kong enterprises have shown considerable adaptability and innovative spirit by adopting versatile strategies and implementing novel ideas to facilitate business growth. By leveraging the Greater Bay Areas (GBA) market resources and new quality productive forces, they expand into the Guangdong-Hong Kong-Macao GBA and overseas, accelerating our society’s progress towards sustainable development. “New Productive Forces: High Quality Industrial Development” introduces the concept of “new quality productive forces” and “Microfactory” and how they will drive economic growth in Hong Kong. We welcome the public to come and visit.

Photo Captions:

Photo 1: Thr Hong Kong News-Expo held the forum “New Opportunities in Financial Development and New Path Enabled by Technology”.

Photo 2: Mr Paul Chan states that the number of visitors to Hong Kong this year has reached 12.2 million, reflecting a 9% year-on-year rise, with foreign tourists growing by 18%, boosting our economy.

Photo 3: “Promote New Quality Productive Forces and Embrace Opportunities in the GBA” thematic exhibition.

Photo 4: “New Productive Forces: High Quality Industrial Development” thematic exhibition.