Hong Kong Financial Secretary Attends IMF, World Bank Meetings
The financial secretary of Hong Kong visited the US for various events, including the annual meetings of the IMF and World Bank.
Hong Kong financial secretary Paul Chan recently visited the US to attend various events, including in Washington DC and New York, according to a blog post (in Chinese only).
In Washington, he joined the annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) as a member of the Chinese delegation. Topics covered include worries about the global economic outlook and rising debt pressures. And in New York, he met with representatives from major Hong Kong chambers of commerce, financial institutions and think tanks to share recent developments.
US-China Relations: Stability Preferred
In conversation with various counterparties, Chan said the general belief was that maintaining stable relationships between China and the US would be «crucial to the future of the global economy».
«It's foreseeable that the global economy will continue to forge ahead amidst twists and turns for some time to come. Economic globalization is exploring new models, and regional economic integration is accelerating,» he said.
«However, looking back at history, no matter how the world evolves, one thing is certain: mutual respect and win-win cooperation are the objective laws of successful development. In the face of differences, we must strive to promote mutual understanding through communication and dialogue, and actively seek the greatest common ground.»
Reassesing China Tech
In addition, Chan also noted that many are reassessing China’s innovation and technology capabilities due to «leapfrog development demonstrated by mainland enterprises in various fields». Biopharmaceuticals in particular has emerged as a «key area for expanded collaboration».
«In recent years, Hong Kong has made significant progress in finance, innovation and technology, and attracting investment and talent, consistently achieving strong results in various international rankings,» he added.
«This firsthand introduction will provide the local business community and think tanks with a more comprehensive and in-depth understanding of Hong Kong's situation and opportunities, fostering the exploration of more mutually beneficial collaborations.»
