Financial Secretary Paul Chan arrived in Davos, Switzerland, yesterday morning to attend the World Economic Forum Annual Meeting 2025.

Upon his arrival, Mr Chan had lunch with representatives of several large-scale financial, transportation, industrial and technology enterprises in Europe, America, the Middle East and Japan.

He briefed them on Hong Kong’s advantages as a super connector and super value-adder, and its social and economic situation, emphasising recent progress in the local financial markets and the city’s achievements in attracting businesses and talent.

He outlined Hong Kong’s strategies and measures to develop its finance, innovation and technology, trade and aviation sectors, and to create opportunities for businesses and talent worldwide.

Mr Chan then met Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi to discuss strengthening bilateral trade co-operation.

He expressed his gratitude regarding Mr Albudaiwi’s visit to Hong Kong to attend the 18th Asian Financial Forum. Both parties agreed that a new session at the forum, “Gulf Cooperation Council Chapter”, marked a milestone in financial services co-operation between Hong Kong and the Gulf states.

Mr Chan added that he is hopeful that the signing of a free trade agreement between Hong Kong and the GCC can be accelerated. He said the Hong Kong Special Administrative Region Government will promote more two-way visits of business delegations from Hong Kong and the Arab states, thereby facilitating the matching of projects in the digital economy and green transformation, in addition to co-operation in the securities markets, Islamic finance, and asset and wealth management.

In the afternoon, Mr Chan met Martin Gilbert, the Chair of Revolut, a UK-based fintech company specialising in digital banking services, to learn about developments in its digital banking operations, cryptocurrency trading and security risk management.

Mr Chan highlighted that Hong Kong has a vibrant fintech ecosystem, and is the best entry point into the Chinese Mainland market. He invited Revolut to expand its business in Hong Kong to tap into the Mainland and Southeast Asian markets.

In the evening, Mr Chan attended a welcome reception hosted by the World Economic Forum.