FS stresses Hong Kong-Singapore cooperation

Financial Secretary Paul Chan addressed the longstanding rivalry between Hong Kong and Singapore but emphasized that their shared future depends on deeper collaboration. Speaking at the Singapore National Day Dinner, Chan pointed out the common traits that define both cities: resilience, agility, and an ability to adapt swiftly.

Chan suggested that they should compete where necessary and co-operate where it mattered most. Some refer to this as co-opetition. The Financial Secretary stated that, through this spirit, both cities would realize their full potential, and their partnership would significantly contribute to the region. Chan highlighted the substantial cross-investments between the two cities, with Singapore's investments in Hong Kong amounting to HK$310 billion and Hong Kong's stake in Singapore standing at around HK$340 billion.

These figures, he said, demonstrate the relationship's solid foundation. Chan proposed that the two financial hubs should combine their strengths to enhance the region's global influence, particularly in shaping standards for emerging sectors such as green finance and AI governance.