Financial Secretary Paul Chan concluded a visit to the US yesterday by attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group. He also meeting leaders from the financial and business sectors, and from think tanks.

In the morning, Mr Chan attended the plenary session of the annual meetings. He then joined a session organised by the Institute of International Finance, a high-level forum attended by senior executives from various international financial institutions, during which he shared insights on the current state of Hong Kong's economy, its strategy towards developing as a financial centre, and opportunities in the city across innovation and technology, digital assets and the building of a “patient capital” ecosystem.

Mr Chan highlighted Hong Kong's unique advantages under the “one country, two systems” arrangement – including free flow of capital, a freely convertible currency pegged to the US dollar, a highly internationalised market, and close alignment with international best practices.

He also emphasised Hong Kong's encouragement of financial innovation, stressing that despite rising global economic uncertainties in recent months, Hong Kong has continued to see capital inflows, reflecting international confidence in the city's investment environment and opportunities.

In addition, he outlined that Hong Kong continues to reform its capital markets to facilitate corporate fundraising and enhance market liquidity, thereby attracting high-quality issuers and investors from both local and overseas markets. He added that the city is prudently embracing financial innovation in its support for the development of digital assets such as stablecoins.

The Financial Secretary also mentioned initiatives to nurture “patient capital”, including the establishment of the Hong Kong Investment Corporation (HKIC), which invests early, in smaller-sized enterprises, and with a long-term perspective. He reported that the HKIC has so far invested in over 130 projects, and that for every $1 invested it has attracted around $6 in co-investment from the market.

At noon, Mr Chan attended a business lunch co-hosted by the US-China Business Council and the Hong Kong Economic & Trade Office in Washington, with over 40 American business leaders in attendance. He delivered a keynote speech, updating participants on Hong Kong's latest economic situation and future development directions, and exchanged views with guests on topics including opportunities in Hong Kong and the Chinese Mainland.

He stressed that the “one country, two systems” arrangement is a significant advantage for Hong Kong and that the central government has made it clear that this system will be upheld in the long run.

Mr Chan reaffirmed that Hong Kong welcomes American businesses and talent to invest and develop their careers in the city.

His itinerary also included attendance at a roundtable discussion hosted by the US think tank Atlantic Council, where he exchanged views with representatives from multinational corporations, financial institutions, and local think tanks.

He briefed them on Hong Kong's economic and financial conditions and its focus on innovation and technology, and discussed topics such as trade, finance, digital assets and innovation.