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Financial Secretary promotes Hong Kong’s financial strengths

during high-level US visit

Financial Secretary Paul Chan visited New York and Washington, DC, from Oct 14 - 17, to strengthen economic ties and promote Hong Kong’s opportunities. In New York, he attended the National Committee on US-China Relations Gala Dinner and met its Chair, Ambassador Charlene Barshefsky, as well as business and financial leaders. Mr Chan highlighted Hong Kong’s strategies to enhance the financial market, innovation and technology, and supply chain connectivity. He encouraged US enterprises and professionals to pursue opportunities and leverage Hong Kong as a gateway to access the Chinese Mainland and Asian markets. Before leaving New York, he gave an interview to the financial media outlet Bloomberg. In Washington, DC, Mr Chan attended the annual meetings of the International Monetary Fund (IMF) and the World Bank, and briefed the IMF Article IV team on the city’s economic and fiscal outlook. He also met with US business chambers and think tanks, where he outlined Hong Kong’s robust economy, free port status, open trade policies, and initiatives to attract talent and investment. 

Hong Kong, New York urban planners share ideas on

smart, sustainable cities

Over 50 planning professionals from the Hong Kong Institute of Planners visited New York for a week-long (Oct 18 – 25) professional exchange to share best practices and learn about New York’s planning policies and infrastructure projects. Supported by the Hong Kong Economic and Trade Office in New York (HKETONY), the delegation organised an urban symposium, titled “Planning for New Generation World Class City: Opportunities and Challenges of Urban and Rural Regeneration from Urban Planning Perspective” (Oct 22), which focused on urban and rural regeneration in both cities. Delivering welcome remarks at the symposium, Director of HKETONY Maisie Ho highlighted both cities’ shared urban challenges and sustainable development goals, noting the symposium fostered exchange to build resilient, future-ready world-class cities. In a fireside chat (Oct 23) exploring the future of sustainable and livable global cities, Ms. Ho highlighted Hong Kong’s commitment to carbon neutrality by 2050, and its leadership role as Asia’s top green bond issuer, supported by a vibrant innovative green technology ecosystem. While in New York, the delegation engaged with leading planners, architects and policymakers and visited landmark sites such as the High Line, Hudson Yards and Central Park. Key highlights included discussions with New York City’s Department of City Planning on post-pandemic revitalisation and an in-depth exchange with New York City Economic Development Corporation and Chinatown partnership Local Development Corporation on the Chinatown Connection Project.

Photo 3 credit: Hong Kong Institute of Planners

Financial Secretary discusses AI at APEC session

Financial Secretary Paul Chan and Secretary for Justice Paul Lam attended the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting and Structural Reform Ministerial Meeting in Incheon, South Korea (Oct 21 - 22). Mr Chan shared Hong Kong’s experience in developing artificial intelligence (AI) and digital transformation, including the establishment of the Hong Kong AI Research & Development Institute, and the launch of the AI Supercomputing Centre. He outlined efforts to promote responsible AI governance, workforce readiness, support for small and medium-sized enterprises and global talent attraction while calling for stronger APEC cooperation on AI policy, data flows, digital trade and innovation. At various APEC sessions (Oct 21), Mr Chan discussed global economic outlooks, digital finance and fiscal policies, reaffirming Hong Kong’s commitment to free trade, financial innovation and fintech development, through initiatives like the Commercial Data Interchange and regulatory sandboxes. In APEC sessions and meetings, Mr Lam highlighted Hong Kong’s reforms in housing, labour, and healthcare, and discussed enhancing legal cooperation and promoting Hong Kong’s legal services internationally.

Largest FinTech Week set for November 3 - 7

The largest-ever Hong Kong FinTech Week x StartmeupHK Festival 2025, themed “Curating the New Fintech Era”, will be held Nov 3 – 7, celebrating a decade of innovation and highlighting Hong Kong’s role as a leading global fintech hub and thriving startup ecosystem. The event is expected to welcome over 37,000 attendees, 800 speakers and 700 exhibitors from more than 100 economies. Secretary for Financial Services & the Treasury Christopher Hui reaffirmed the government’s commitment advance fintech and sustainable solutions while Secretary for Commerce & Economic Development Algernon Yau highlighted the role of startups in driving economic growth. Semi-finalists from seven verticals in the Global Fast Track programme will pitch “live” during the event, connecting innovators with corporates, investors, and industry partners.

Second batch of banks, tech firms to test AI in finance

The Hong Kong Monetary Authority and the Hong Kong Cyberport Management Company Limited have launched (Oct 15) the second cohort of the Generative Artificial Intelligence Sandbox, marking a shift from AI experimentation to secure and reliable implementation. This phase will feature 27 use cases from 20 banks and 14 technology partners, with emphasis on proactive approach to AI governance. The Sandbox will also test defence mechanisms against deepfake-related fraud. Participants will start onboarding to the designated platform by Cyberport’s Artificial Intelligence Supercomputing Centre later this year, with trials commencing in early 2026.

Global campaign launched, reaffirming financial leadership

Hong Kong’s Financial Services Development Council (FSDC) unveiled (Oct 21) a global campaign to reaffirm Hong Kong’s position as the world’s pre-eminent international financial centre. The campaign showcases Hong Kong’s unparalleled institutional strengths, including its open economy, deep capital markets, trusted legal framework, global connectivity, and vibrant lifestyle that attracts and retains top global talent. FSDC Chairman Benjamin Hung said Hong Kong was unmatched in shaping global capital and facilitating seamless financial connectivity. As a top global financial hub, Hong Kong raised US$13.7 billion in IPOs in the first half of 2025; remained the world’s largest offshore RMB centre; and is set to surpass Switzerland as the world’s largest cross-border wealth management hub, managing US$2.9 trillion in assets.

Wine and Dine Festival showcases global wines and culinary innovation

The Hong Kong Wine & Dine Festival (Oct 23 - 26) returned to Central Harbourfront, attracting 163,000 attendees and featuring over 300 booths from 31 countries and regions. Highlights included the BEA Grand Wine Pavilion, showcasing 500 top-tier vintages and an exceptional lineup of wines from all five First Growth estates; and an exclusive dinner by five top chefs from Hong Kong and abroad reimagining Cantonese cuisine with a modern, innovative approach. Meanwhile, provisional visitor arrivals in September reached nearly 3.3 million, up 8% year-on-year. In the first three quarters of 2025, Hong Kong welcomed over 36 million visitors, a 12% increase, with 28 million visitors from Chinese Mainland, and 8.5 million from other markets.

Shaw Prize award presentation held

Four distinguished scientists were honoured with the prestigious Shaw Prize in Hong Kong on Oct 21 for their exceptional contributions in their respective fields. The 2025 laureates are John Richard Bond, University Professor at the Canadian Institute for Theoretical Astrophysics of the University of Toronto, and George Efstathiou, Emeritus Professor of Astrophysics (1909), University of Cambridge (Astronomy); Wolfgang Baumeister, Director Emeritus and Scientific Member of Max Planck Institute of Biochemistry (Life Science and Medicine); and Kenji Fukaya, Professor of Beijing Institute of Mathematical Sciences and Applications and the Yau Mathematical Sciences Center at Tsinghua University (Mathematical Sciences).

Airport Authority Hong Kong to host recruitment talk

Are you ready to take your career to new heights? The Airport Authority Hong Kong (AA) is seeking talented individuals who thrive on challenges and aspire to be part of the AA family. Established in 1995, AA is a statutory body responsible for overseeing the operation and development of Hong Kong International Airport. Join AA for an online recruitment talk on Nov 5 at 8:00 PM (US Eastern Time) to learn more about exciting career opportunities with AA. Register here: https://forms.office.com/UStalk

Hong Kong Police launches overseas recruitment drive

The Hong Kong Police Recruitment Division will launch the Police University Recruitment Express – Overseas (PURE Overseas) during the winter holidays (Dec 2025 – Jan 2026) for Hong Kong students studying abroad. This initiative features a one-month Probationary Inspector selection and a two-week Police Constable selection process, both held in Hong Kong between Dec 14, 2025 and Jan 7, 2026. Hong Kong permanent residents studying at overseas universities in their final or penultimate year (graduates of 2025 and 2026), or graduates within the past two years, are welcome to apply. More information can be found here.

US politicians’ remarks opposed

The Hong Kong Special Administrative Region (HKSAR) Government strongly opposed (Oct 26) recent remarks by members of the US Senate Committee on Foreign Relations regarding the national security case involving Lai Chee-ying. It stressed that ongoing legal proceedings must not be interfered with, and external commentary attempting to influence the judiciary could constitute perverting the course of justice. The HKSAR Government stressed that all persons-in-custody are provided a secure, safe and humane environment, with access to health and medical care when needed. The HKSAR Government reiterated it will resolutely safeguard national security while upholding resident’s rights and freedoms under the law. 

The Basic Law (BL) is the constitutional document of the HKSAR. It provides the guarantees to maintain our existing way of life, including socio-economic development, the rights and duties of Hong Kong people, the rule of law and other areas. The Basic Law was put into effect on July 1, 1997.

Q: Which article of the Basic Law states that the HKSAR exercises a high degree of autonomy?

A: According to Article 12 of the Basic Law, the HKSAR shall be a local administrative region of the People’s Republic of China, which shall enjoy a high degree of autonomy and come directly under the Central People’s Government.