Hong Kong ready to welcome APEC delegates heading to Shenzhen summit, Paul Chan says
Hong Kong Financial Secretary Paul Chan says the city is fully prepared to receive foreign delegates travelling to the APEC leaders' meeting in Shenzhen next month. He highlights Hong Kong's role in linking mainland China with global markets and reports 16 consecutive months of retail sales growth.
Hong Kong is ready to welcome foreign delegates heading to the 2026 Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting in Shenzhen via the city, Financial Secretary Paul Chan Mo-po said on Sunday. His remarks followed Hong Kong's first hosting of the APEC Finance Ministers' Meeting last week, which he said delivered breakthrough progress.
Speaking on a radio programme, Chan said the meeting had given representatives from APEC economies a deeper understanding of Hong Kong's unique role in linking the mainland with the world. He stressed that Hong Kong's dual roles of assisting mainland enterprises to 'go global' and attracting overseas investment would be key to financing infrastructure innovation, digital trade finance, standards alignment and industry certification for mainland companies.
Pointing to the city's better international links, Chan expected many APEC leaders' meeting attendees would likely route through the city ahead of next month's Shenzhen summit, and hoped to promote Hong Kong's attractions to them. He stressed that international trust in the city's professional services has been hard-won and that all practitioners must uphold the highest international ethical standards alongside technical excellence to protect the city's reputation.
As more mainland firms look to expand abroad, Chan attributed the trend to fierce domestic competition, which makes overseas profits relatively attractive. Apart from serving as a base for mainland firms' corporate treasury centres and research operations, Hong Kong can also promote standards alignment and conversion between China and the world, he added. Chan said global enterprises could also enter the mainland market through the city's investment and professional services for infrastructure projects, creating new opportunities for Hong Kong.
Pointing to a lively atmosphere in the market, Chan reported that retail sales have increased 5 to 6 per cent year on year to HK$32.1 billion, marking the 16th consecutive month of expansion. Notably, pressure on the food and beverage services sector has been brought under control, the residential market is stable and improving, and commercial property rents have stopped falling, Chan said. He expects Hong Kong's performance to improve once asset markets stabilise, saying the priority is to keep the recovery on track against external shocks.
Having recently led delegations to Nanjing and Beijing, Chan pointed to Nanjing's strengths in artificial intelligence, medical technology and pharmaceuticals, with two-way trade between the two cities recording more than twofold growth in the first nine months of this year. Under a new 'tech and brands going global as a group' strategy, Chan said the government and partners — including HKEX, the science parks, Cyberport, HKIC, the Trade Development Council and the Productivity Council — will offer tailored one-stop support to mainland companies with technical strength but little overseas experience. As the Global Financial Leaders' Investment Summit and Fintech Week approach in November, Chan said Hong Kong will keep leveraging its financial and innovation edge to serve national development.