(ECNS) -- Hong Kong will strengthen ties with traditional markets in Europe and the Americas while exploring new options and developing high-value multinational supply chain management and trade financing services to support Chinese mainland enterprises in going global, said Paul Chan, financial secretary of the Hong Kong Special Administrative Region government on Sunday.
Chan delivered a keynote speech at the afternoon session of the Symposium on Igniting Growth Momentum through Reform during the China Development Forum (CDF) that kicked off in Beijing on the same day.
He mentioned that Hong Kong, under the "one country, two systems," has unique advantages and can play a special role in deepening international exchanges and co-operation, contributing to the country's high-level opening-up and quality development while creating greater business opportunities for global economies and enterprises.
"Leveraging its strengths in innovation and technology, international capital, data and talent, along with the innovative capabilities, depth of industries and wide scope of application scenarios of sister cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Hong Kong is committed to becoming a hub for international exchange and co-operation in the AI industry," he said.
Hong Kong will leverage its advantage of connecting with both the Chinese mainland and the world, supporting the financing needs of enterprises and projects, and driving technological innovation with a particular focus on AI for future development, Chan added.
Meanwhile, he pointed out three major trends that are profoundly impacting the global political landscape and economic development.
The rise of protectionism and unilateralism is bringing uncertainty and instability to the global economy, the emergence of economies in the Global South is becoming a new engine and driving force for economic growth, and technological innovation, particularly the rapid development of artificial intelligence, is triggering changes in production models, business models and consumption patterns, according to him.
He emphasized that in the face of a complex and changing global situation, China remains steadfast in embracing true multilateralism, and works with countries to promote inclusive economic globalization.
"China has also stressed the need to expand high-level opening-up and advance institutional innovation, deepen reforms in the technology sector, and nurture new quality productive forces in accordance with local conditions," Chan said.
(By Zhang Dongfang)
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