Hong Kong finance chief signs trade pacts with Beijing ministry, visits AI firm
Hong Kong Finance Secretary Paul Chan signed two memoranda of understanding with China's Ministry of Commerce in Beijing on 23 October 2026 to deepen economic and trade ties. He also visited an artificial intelligence company and discussed CEPA upgrades.
Hong Kong's Financial Secretary Paul Chan met with China's Ministry of Commerce in Beijing on 23 October 2026, signing two memoranda of understanding to strengthen economic and trade cooperation between the mainland and Hong Kong, the government announced.
Chan and Assistant Minister of Commerce Yuan Xiaoming witnessed the signing by Secretary for Commerce and Economic Development Edward Chiu. The first memorandum, signed by Sun Zhe, director of the ministry's Taiwan, Hong Kong and Macau Affairs Department, focuses on enhancing economic and trade cooperation under the mainland-Hong Kong Economic and Trade Cooperation Committee mechanism. The second, signed by He Yongqian, director of the ministry's Free Trade Area and Port Construction Coordination Department, aims to deepen alignment between mainland free trade zones and free trade ports with Hong Kong.
The agreements are designed to boost cooperation in key trade areas and leverage the respective strengths of both sides to serve the nation's high-level opening-up policy, according to the statement. Chan thanked the Ministry of Commerce for its continuous support of Hong Kong's economic development, saying the government would utilise Hong Kong's international business environment, professional services and global networks to strengthen its role as a 'super-connector' and 'super-value-adder'.
Chan noted that the Chief Executive's 2026 Policy Address had announced plans to sign a memorandum following the 2024 revision to the Closer Economic Partnership Arrangement (CEPA), which further opened mainland trade in services. The new pact will push for a comprehensive upgrade of CEPA, deepen services cooperation and expand market access for Hong Kong in the mainland.
Chan also visited an artificial intelligence company in Beijing on the same day, meeting with its senior management to discuss industry developments. He is scheduled to return to Hong Kong on 24 October 2026.