Chan Mo-po: Hong Kong’s cooperation with the Middle East and the Global South is getting deeper and more solid

China News Service, Hong Kong, October 4 The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, published a blog on the 4th and stated that the cooperation between Hong Kong and the Middle East, as well as other economies in the global South, is deepening and solid: from the plans of large asset management institutions in relevant regions to set up offices in Hong Kong, to the development of exchange-traded products that are mutually linked to the markets of the two places, to energy storage, data centers, e-commerce logistics, aviation and other fields, Hong Kong uses "finance +" to connect with the real economy, explore international cooperation, and play the role of "super contact" and "super value-added person".

Chan Mo-po mentioned in the article that he recently visited Doha, Qatar, to attend the annual meeting of the Asian Infrastructure Investment Bank (AIIB). After extensive exchanges with political and business people from various places, he became more convinced that the cooperation between the country and Hong Kong, the Middle East and even the global South is accelerating towards broader innovation, technology and industrial project cooperation, as well as deeper sharing of experience in system construction through the two-way flow of funds and personnel.

He pointed out that Middle East economies have actively promoted economic diversification in recent years, investing heavily in infrastructure and developing non-energy industries, and the investment layout of local sovereign funds has also expanded accordingly.

Chen Maobo said that at the annual meeting of the AIIB, representatives from Central Asia admitted that they hoped to learn from Hong Kong’s experience to develop an international financial center based on common law, study the listing regulations of real estate investment trust funds, and welcome Hong Kong banks to open and operate there; representatives of the Middle East Chamber of Commerce were concerned about the protection of contractual rights and interests and dispute resolution in cross-border trade and investment, and showed strong interest in Hong Kong as the seat of mediation and arbitration stipulated in the contract.

He emphasized that the value of Hong Kong in regional cooperation lies not only in the depth and efficiency of the financial market, but also in its unique position and common law system, reputation, international professional services, and other soft power advantages that connect the mainland and the world under "one country, two systems".

Paul Chan said that he will continue to strengthen the international connections and influence of Hong Kong International Financial Center. In the next few months, Hong Kong will host a number of international financial events, such as the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting, the International Financial Leaders Investment Summit, the Asian Financial Forum, etc., allowing the Hong Kong SAR government to communicate face-to-face with industry elites and political and business leaders from around the world, introduce Hong Kong's advantages and business environment, further deepen friendship and connections, and promote more pragmatic cooperation.