Secretary for Financial Services & the Treasury Christopher Hui

The two-day 18th Asian Financial Forum (AFF) concluded successfully last Tuesday (January 14).  AFF is Hong Kong's annual first-in-line flagship mega event and a significant forum highly anticipated by the region's financial community. This year, the forum has attracted about 3,600 policymakers and business leaders from about 50 countries and regions, featuring numerous highlights. I believe that all participants gained a lot and returned with fruitful experiences.

Exploring Hot Topics

This year's AFF, themed “Powering the Next Growth Engine”, discussed ways to ignite new growth engines in 2025 and achieve breakthroughs in a challenging landscape. The forum featured a distinguished lineup of more than 130 renowned speakers, including senior government officials, representatives of central banks and regulatory agencies, financial and business leaders, scholars, and economists, who offered unique opinions on various hot topics including global economic and financial development, growth potential in emerging markets like the Association of Southeast Asian Nations and the Middle East, artificial intelligence (AI), fintech, sustainable development, family offices, and philanthropy, etc.

In particular, the forum also invited Prof Justin Yifu Lin, the former Chief Economist and Senior Vice President of the World Bank, to share his in-depth analysis of the shifting global economic situation as well as China's current trajectory and its evolving role in the world; and Prof Stuart Russell, the Distinguished Professor of Computer Science at the University of California, Berkeley, Co-chair of the World Economic Forum's Council on AI and Co-chair of the Organisation for Economic Co-operation & Development's Expert Group on AI Futures, to share his views on the development and implications of Generative AI. Besides, I moderated two plenary sessions joined by government officials from various countries and leaders of multilateral institutions and had earnest discussion on leveraging innovation to promote growth and using co-operation to pursue shared prosperity respectively.

Additionally, I am also pleased to co-host with the Cooperation Council for the Arab States of the Gulf (GCC) the GCC Chapter for the first time. In the session, we invited Mr Jasem Mohamed Albudaiwi, Secretary General of the GCC, and policymakers from GCC member states and business leaders to share insights on economic development in the Gulf region and explore future co-operation opportunities with Hong Kong. The chapter marked an important milestone in fostering collaboration in financial services between Hong Kong and GCC member states. We will continue to closely collaborate with the GCC Secretariat to further strengthen the interconnected development of the financial markets of both sides, with a view to creating economic prosperity for both regions.

Solid National Support for Hong Kong
I would also like to express heartfelt gratitude to the Central People's Government's steadfast support on the development of the financial industry of Hong Kong. This year, we are honoured that Mr Zhou Ji, Executive Vice Director of the Hong Kong & Macao Affairs Office of the State Council of the People's Republic of China, Mr Pan Gongsheng, Governor of the People's Bank of China, and Mr Liu Zhenmin, Special Envoy for Climate Change of the People's Republic of China, graced the event and delivered important remarks. Mr Zhou emphasised that the Chinese Government will, as in the past, do its utmost to provide strong protection for supporting Hong Kong in consolidating and enhancing its status as an international financial, trade and shipping centre, as well as for strengthening technological innovation. Mr Pan highlighted that the People's Bank of China will focus on four key directions to continue to fully support the development of Hong Kong as an international financial centre (including to support the development of Hong Kong's capital market; to expand and strengthen Hong Kong's position as an offshore renminbi business hub; to enhance Hong Kong's functions as an international asset and wealth management centre; and to resolutely safeguard Hong Kong's financial stability and security). Also, Governor Pan indicated that asset allocation of the country's foreign reserves in Hong Kong will be increased, enhancing the attractiveness and liquidity of our capital market. Mr Liu praised the Hong Kong Special Administrative Region for being a pioneer in the global response to climate change and expressed hope that Hong Kong could leverage its strengths to empower Asian energy transition through climate financing so as to make new and greater contributions to global sustainable development.

We will continue to uphold the spirit of reforms, to further consolidate our status as an international financial centre, proactively enhance the competitiveness of the financial services industry, and contribute to our country's development as a financial powerhouse.

Expanding circle of friends, leveraging advantages of super connector
The forum also featured the AFF Deal-making session, bringing together more than 270 investors and over 560 investment projects with more than 700 one-on-one meetings held, covering a wide spectrum of sectors such as fintech, healthtech, environmental technology, etc. It has helped connect funds and investment projects from across the globe. The forum has successfully expanded Hong Kong's circle of friends, and fully demonstrated Hong Kong's unique role as a super-connector and super value-adder.

In order to enrich the experience of participants from outside Hong Kong, the forum also collaborated with a number of organisations to provide special experience activities, including Peak Tram and Sky Terrace trips, the iconic Aqua Luna red-sail junk boat, etc, for the visitors to experience the unique charm of the city.

To Conclude
The forum attracted top-notch financial and business leaders from around the world, reflecting the attractiveness and significant position of Hong Kong as an international financial centre. We will continue to leverage Hong Kong's strengths, power the next growth engine, and contribute to the overall development of the region and the world.

Last but not least, I thank the co-organiser, the Hong Kong Trade Development Council, for their full assistance, the partner organisations for their strong support, and friends from around the globe for their enthusiastic participation, which all contributed to the success of the forum. I look forward to reuniting with friends from all over the world at AFF 2026 in Hong Kong!

Secretary for Financial Services & the Treasury Christopher Hui wrote this article and posted it on his blog on January 20.