Exclusive | Paul Chan upbeat about Hong Kong economy despite volatility from US policies
Shifting policies under US President Donald Trump’s administration are expected to heighten market volatility in Hong Kong this year, the finance chief has said, while also expressing “cautious optimism” about the capital market. Explaining his upbeat outlook despite the tense geopolitical climate, Financial Secretary Paul Chan Mo-po said business and political leaders he met at…
Explaining his upbeat outlook despite the tense geopolitical climate, Financial Secretary Paul Chan Mo-po said business and political leaders he met at the World Economic Forum in Davos viewed the city much more positively than in previous years.
“Despite the [geopolitical] challenges, as long as we keep the Hong Kong market open, free and properly regulated, adhering to best international standards and attracting quality companies to list here, [Western investors] will remain very interested in our market,” Chan told the Post in an exclusive, wide-ranging interview.
Wrapping up his four-day stay in Switzerland, Chan said Hong Kong had to accelerate innovation and technology (I&T) development for quality jobs and economic growth, and that strategically attracting companies to the city was crucial for strengthening its tech ecosystem.
Discussing the market outlook amid escalating tensions between the United States and its European allies over Greenland, Chan said political and business leaders in Davos had focused on evolving American policies and their implications for the global economy.
The finance minister remained tight-lipped about his recent conversations with Jensen Huang, CEO of the AI chipmaking giant Nvidia, but said his exchanges with other participants at the forum showed that sentiments about Hong Kong’s prospects this year had shifted, with more viewing the city “a lot more positively” after earlier scepticism about investing in Hong Kong and mainland China.
