HK deepens ties with Mideast, Global South: FS

Financial Secretary Paul Chan affirmed that Hong Kong's collaboration with the Middle East and the Global South was strengthening and becoming more significant. Chan shared his observations following a visit to Doha, Qatar, where he participated in an annual meeting of the Asian Infrastructure Investment Bank. There, he engaged with political and business leaders from diverse backgrounds.

In a weekly blog post, Chan expressed his conviction that the exchange of capital and people was transitioning from a two-way flow to a broader collaboration encompassing innovation, technology, and industrial projects. He highlighted that Middle Eastern economies had been prioritizing economic diversification in recent years, focusing on infrastructure, artificial intelligence, digitalization, healthcare, robotics, renewable energy, and new materials – fields that align with Hong Kong's innovation and technology advancement strategy.

Chan noted that the exchanges during his visit indicated a heightened desire for deeper and more tangible cooperation on projects, rather than merely investment. He emphasized that the Middle Eastern partners were seeking project and industrial cooperation, knowledge, experience in institutional development, professional services, and reliable partners.

The financial executive affirmed that Hong Kong would persist in expanding its global connections and influence as an international financial hub. He announced a series of events set to occur in the city in the upcoming months. Chan reported that over 732,000 mainland tourists visited Hong Kong during the first three days of the National Day Golden Week holiday, marking an 8.4 percent year-on-year increase.

Many restaurants and stores, particularly those situated in popular tourist areas, witnessed a surge in business activity.