Hong Kong is not just China’s economic sandbox but also a driver of the country’s development, the finance chief has said, calling the city the nation’s international financial centre.
Financial Secretary Paul Chan Mo-po said on Monday that Hong Kong must move swiftly to embrace artificial intelligence (AI) and “get empowered” in its use, as the opportunities it brought outweighed potential job losses.
Speaking at the “Redefining Hong Kong 2026: Budget Edition” conference organised by the South China Morning Post, Chan also dismissed suggestions of any “reckless” use of the Exchange Fund.
Asked about the role of Hong Kong in China’s broader development strategy, Chan said the city was “more than just” the country’s financial sandbox.
“We are also the driver for the country’s development,” he said. “A strong country must have a very strong international financial centre, and here, I underscore ‘international’.”
He also said that Hong Kong had been assigned a key role under China’s 15th five-year plan, which is currently being deliberated in Beijing.
The national blueprint tasked Hong Kong with deepening integration with mainland China and reinforcing its role as an international financial hub, strengthening offshore renminbi and supply chain services, and accelerating the Northern Metropolis megaproject, among other initiatives.
