Financial Secretary Paul Chan held bilateral meetings with government officials and business leaders from various countries to promote Hong Kong's new advantages on his third day at the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.

He actively participated in collaborative activities at the yearly conference yesterday, including the Informal Gatherings of World Economic Leaders over lunch, where more than 70 political and business leaders discussed strategies to prevent a new, non-co-operative normal.

Later, while speaking with WEF Founder & Executive Chairman Prof Klaus Schwab, Mr Chan expressed Hong Kong's willingness to strengthen co-operation with the WEF in different areas, including green transition, financial services development, urban management, and more.

He also met Qatar’s Minister of Finance Ali bin Ahmed Al-Kuwari and Switzerland’s State Secretary for International Finance, Federal Department of Finance Daniela Stoffel respectively.

They exchanged insights on the latest global economic and financial landscapes and discussed ways to enhance co-operation between Hong Kong and both economies in trade, financial services and infrastructure.

Additionally, Mr Chan met representatives from Coinbase, a US cryptocurrency exchange platform, to learn about the company's latest business development. They exchanged views on global trends and regulatory policies concerning digital assets.

During a meeting with senior management from Swiss Re, the Financial Secretary outlined Hong Kong's initiatives to strengthen its role as an international risk management centre, including the development of innovative products such as catastrophe bonds.

Mr Chan emphasised that Hong Kong will continue to encourage businesses worldwide engaged in infrastructure and investment projects to leverage the city for comprehensive risk management.

He added that Hong Kong seeks to attract more domestic and international companies to establish captive insurance companies in the city.