The 18th Asian Financial Forum (AFF) opened today with the theme of "Powering the Next Growth Engine" to explore ways to achieve breakthroughs in a time of change.

Co-organised by the Hong Kong Special Administrative Region Government and the Trade Development Council, the two-day forum has attracted about 3,600 participants from around 50 countries or regions.

Some 130 elite speakers, including government officials, representatives from central banks and regulatory bodies, financial and business leaders, scholars and economists, discussed global economic and financial development, growth potential of emerging markets like the Association of Southeast Asian Nations and the Middle East, and advancements in new financial areas such as artificial intelligence, fintech, sustainable development, family offices and philanthropy.

Addressing the opening session of the forum this morning, Chief Executive John Lee highlighted Hong Kong's status as an international financial centre.

He noted that Hong Kong ranked third, globally, and first in Asia, in the most recent Global Financial Centres Index. In last year's World Competitiveness Yearbook, Hong Kong ranked fifth, globally, up two places from the previous year. And Hong Kong topped the yearbook's rankings in business legislation and international trade.

“Thanks to ‘one country, two systems’, Hong Kong enjoys the strong support of China, while developing ever-expanding global ties, making Hong Kong the world's foremost ‘super connector’ and ‘super value-adder’.

“Our established common law regime dovetails with the legal system of many major global financial hubs. Our professionals are proficient in both Chinese and English, and well-versed with the business practice of both China and the rest of the world.”

Mr Lee added that Hong Kong is poised to power its next growth engine and contribute to the region's overall development.

Financial Secretary Paul Chan delivered welcome remarks at the keynote luncheon.

He said: “As an international financial, trade and shipping centre, Hong Kong enjoys unparalleled advantages to connect China with the rest of the world. The essence of it is this: we have convenient and often priority access to the Mainland market, while maintaining all the characteristics of an international city. As a 'super connector' and 'super value-adder', we believe our unique advantages will create value for partners from Asia and well beyond.”

Mr Chan outlined Hong Kong's edge as an international financial centre, including a full range of funding options catering to the divergent needs of governments and enterprises at different development stages to fund their projects and scale up; and the innovative financial strategies to enhance product offerings such as securitisation of infrastructure loans and catastrophe bonds.

The finance chief also elaborated on Hong Kong's strengths in innovation and technology in partnership with sister cities in the Greater Bay Area, and the contributions it can make to productivity enhancement and sustainable development in the region.

He also explained Hong Kong's role as a multinational high value-added supply chain management centre to support enterprises in aligning or restructuring their industrial and supply chains across different economies.

Additionally, Secretary for Financial Services & the Treasury Christopher Hui chaired two plenary sessions today, including sharing insights on how innovation can drive growth amid a complex landscape with persistent global challenges.

He also discussed with renowned speakers on how to enhance collaboration, rebuild trust and foster partnerships among different economies to achieve shared growth and prosperity in an increasingly divided world.