Financial Secretary Paul Chan promoted Hong Kong’s advantages in Davos, Switzerland yesterday, as he continued his attendance at the World Economic Forum Annual Meeting.

At the 2026 Davos-Caixin CEO Luncheon, Mr Chan delivered a keynote speech to business leaders introducing Hong Kong’s development vision and strategic positioning on finance, trade and innovation and technology.

Highlighting that under “one country, two systems”, Hong Kong is spearheading initiatives on financial and technological innovation in collaboration with neighbouring cities in the Greater Bay Area that boast robust industrial chains, he said the city holds tremendous development and investment potential.

Mr Chan also remarked that international trade is undergoing a paradigm shift. He said developed countries must be aware that the traditional model of developing economies producing and exporting low-cost goods is evolving.

Taking China as an example, he explained, the country is advancing “high-level, two-way opening-up” and focusing on expanding domestic demand. This, he said, not only injects momentum into China’s high-quality development, but also creates vast market opportunities for quality goods and services from across the globe, fostering shared prosperity.

The finance chief later shared his views, at a dinner, on China's development, international relations, and capital market developments in both the Mainland and Hong Kong.

Earlier in the day, he attended a business exchange session, where he held bilateral discussions with Cambodia’s Deputy Prime Minister Sun Chanthol and United Arab Emirates’ Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini.

They exchanged views on the global economic and trade landscape and explored ways to strengthen bilateral economic and trade co-operation.

Separately, Mr Chan interacted with some 100 leaders from various sectors and regions during the exchange session.

His engagements for the day also included a meeting with Yidu Tech Chairlady and Founder Gong Yingying.

Mr Chan learnt about the medical technology firm’s AI and digital-powered clinical platform, and encouraged Ms Gong to consider expanding its business to Hong Kong.