FS says HK key to national financial goals

Financial Secretary Paul Chan emphasized on Sunday that Hong Kong plays a crucial role in achieving the nation's financial goals. He announced plans to expand the renminbi-denominated bond market, positioning Hong Kong as a safe and reliable offshore platform. The government also aims to develop renminbi-denominated gold and commodity markets to boost the nation's pricing power in these areas.

Chan highlighted that the five-year national plan calls for accelerating the development of a financial powerhouse. He stressed Hong Kong's unique role in fulfilling the nation's needs, stating that the country's high-quality development is Hong Kong's biggest opportunity and source of confidence. Chan added that Hong Kong's first five-year plan responds to the rapidly changing world, where markets require longer-term certainty.

He suggested that when businesses can anticipate Hong Kong's trajectory over the next five years, they can collaborate effectively with the government. This partnership between an active government and an efficient market, he argued, can drive outstanding results.