Paul Chan Mo-po

A Saudi Arabian tech giant has chosen Hong Kong as its first stop in Asia, seeking partnerships to co-develop a smart city and establish a regional market gateway. The visit follows the launch of LEAP East 2026, with Hong Kong's Financial Secretary Paul Chan Mo-po emphasizing strengthened regional ties.

Hong Kong’s finance chief, Paul Chan Mo-po, will lead a business delegation to Saudi Arabia later this year as part of efforts to strengthen ties with the Middle East. The announcement was made during the opening of LEAP East 2026 in Hong Kong, with the conference’s Hong Kong edition set to continue annually for the next three years.

Hong Kong is positioned to add value to Beijing’s 'China Opportunity 2.0' initiative by acting as a bridge for mainland Chinese enterprises' global expansion. Financial Secretary Paul Chan highlighted the Northern Metropolis project as a hub for commercializing research and advancing technological development.

Hong Kong’s finance chief Paul Chan Mo-po announced plans for new initiatives to boost offshore yuan trading, set to be revealed next month, following mainland China’s recent efforts to stimulate such trading in Shanghai. Hong Kong also aims to increase the availability of yuan-denominated shares on its stock exchange.

Beijing's recent investigation into three Hong Kong-based brokerages—Futu Securities, Tiger Brokers, and Long Bridge—was driven by concerns over foreign exchange 'leakage' and protecting mainland retail investors, according to Hong Kong's Financial Secretary Paul Chan Mo-po. The comments were made during a closed-door event in the Davos Dalian series.

Xia Baolong, director of the Hong Kong and Macau Affairs Office, began a two-day visit to Hong Kong focusing on housing, technology, and Northern Metropolis developments. He attended a briefing with Chief Executive John Lee Ka-chiu and other officials.

Hong Kong’s first five-year plan aims to address economic shortcomings and create quality jobs through initiatives like artificial intelligence, as outlined by Financial Secretary Paul Chan Mo-po. The plan emphasizes economic upgrading and includes the Northern Metropolis megaproject.

Hong Kong's Financial Secretary Paul Chan Mo-po stated the city can surpass New York and Silicon Valley by combining global financial expertise with tech innovation and manufacturing via the Greater Bay Area. He highlighted Hong Kong's unique advantage in advanced manufacturing integration, which US rivals lack.

Hong Kong will open its first convenience store operated by a humanoid robot as part of an AI integration initiative. The finance chief announced the establishment of a high-level government committee for AI development, with the store located in Hung Hom.

The Hong Kong government's offshore yuan-denominated venture capital fund, led by Hong Kong Investment Corporation (HKIC), is expected to attract investors targeting artificial intelligence, biotechnology, and new energy sectors. Financial Secretary Paul Chan Mo-po announced the initiative, highlighting HKIC's role in managing the fund.

Hong Kong's finance chief stated that external shocks from the Middle East war have a limited impact on inflation, citing the city's service-based economy and stable energy and food supplies from mainland China. Global fuel price surges are expected to affect fuel-related consumer prices, pushing inflation.

Hong Kong’s Financial Secretary Paul Chan Mo-po advocates for stronger cooperation and dialogue with Europe despite disagreements, emphasizing the importance of engagement amid geopolitical uncertainty. He highlighted European leaders' focus on strategic autonomy and economic resilience during a recent trip to France, Belgium, and Switzerland.

Hong Kong's tourism is recovering with visitor numbers up 17% in the first quarter, but spending growth lags behind footfall recovery. The city's economy grew 5.9% year-on-year, its strongest quarterly performance in nearly five years, though officials must adjust their success metrics to account for the divergence between visitor volume and consumer spending.