Financial Secretary Paul Chan today visited Sydney to meet the Governor of the Reserve Bank of Australia, local fintech companies and members of the Hong Kong community based in the city.

In the morning, Mr Chan met Governor of the Reserve Bank of Australia (RBA) Michele Bullock to discuss the current global and regional economy, financial market situation and related financial regulatory issues.

During the meeting, Mr Chan introduced to Ms Bullock Hong Kong’s work in financial regulation and development, adding that he looks forward to maintaining exchanges with the RBA and promoting more cross-border co-operation.

Mr Chan also called on Acting Consul-General of the People’s Republic of China in Sydney Wang Chunsheng, to brief him on Hong Kong’s latest developments and prospects.

They had in-depth exchanges on various issues relating to China-Australia relations and the promotion of co-operation between Hong Kong as well as the Greater Bay Area (GBA) and Australia.

Afterwards, Mr Chan had lunch with members of the Hong Kong community based in Sydney, and discussed how they can promote co-operation between Hong Kong and Australia in the areas of business, education and culture.

Apart from sharing information with them about Hong Kong’s economy and development directions, he learnt about their businesses, work and lives.

In the afternoon, the finance chief met representatives from the industry group FinTech Australia and 10 local companies engaged in payment services, digital assets, green fintech and regulatory technology.

He briefed them on Hong Kong’s strategy to promote fintech development and answered their questions about developing business operations in Hong Kong and the relevant regulatory requirements, as well as how to raise funds more effectively and seek partnerships.

Mr Chan then visited a biotech company focusing on cancer diagnostics and received a briefing about their business.

He spoke to the company’s management about Hong Kong’s plans for development as a medical innovation hub, and the policy measures implemented by the Hong Kong Special Administrative Region Government to encourage strategic enterprises engaged in scientific research to set up operations in Hong Kong.    

He encouraged them to establish a presence in the city, to leverage its research advantages to expand into the GBA, the Mainland, and Asian markets.

He also invited them to actively consider listing in Hong Kong to utilise the city’s fundraising platform to strengthen their business.