Financial Secretary Paul Chan today began his visit to Beijing by calling on Mainland officials and giving a keynote speech at a seminar on the 15th Five-Year Plan.

This morning, CPC Central Committee Hong Kong & Macao Work Office Director and State Council Hong Kong & Macao Affairs Office Director Xia Baolong met Mr Chan and other Hong Kong officials. Executive Deputy Director of CPC Central Committee Hong Kong & Macao Work Office and State Council Hong Kong & Macao Affairs Office Xu Qifang joined the meeting.

Mr Xia said that when President Xi Jinping heard Chief Executive John Lee’s report on the work of the Hong Kong Special Administrative Region last year, President Xi stressed that Hong Kong and Macau should proactively align with the National 15th Five-Year Plan.

Noting that the 15th Five-Year Plan supports Hong Kong in consolidating and enhancing its competitive edge, and facilitates the city’s better integration into and service of national development, Mr Xia said he believes the Hong Kong SAR Government will lead the community to formulate Hong Kong's first five-year plan based on the practical situation, with a view to enhancing its status as an international financial, shipping and trade centre.

Mr Chan thanked Mr Xia for his guidance and care for Hong Kong’s work on the economic and financial fronts. He also reported to Mr Xia on the city’s overall economic development and financial operations, as well as the work of the Hong Kong SAR Government to fully align with the 15th Five-Year Plan under the leadership of the Chief Executive, including the progress in formulating Hong Kong’s first five-year plan.

The Hong Kong SAR Government and various sectors will utilise Hong Kong’s unique advantages under the “one country, two systems” principle, reinforce the development of industries with clear advantages, and nurture emerging and future industries, in order to grasp the vast opportunities offered by the 15th Five-Year Plan and contribute to the China’s high-quality development, Mr Chan remarked.

In the afternoon, Mr Chan called on Governor of People’s Bank of China Pan Gongsheng and China Securities Regulatory Commission Chairman Wu Qing, respectively, to discuss the development of the financial market and regulatory co-operation.

In addition, he delivered a keynote speech at a seminar on the 15th Five-Year Plan organised by the Hong Kong Trade Development Council and the Hong Kong Chamber of Commerce in China.

Mr Chan said in his speech that Hong Kong has to proactively align with the 15th Five-Year Plan to serve the country’s needs while creating opportunities for Hong Kong’s high-quality development.

In this connection, Hong Kong can focus on three key areas in economic development, he explained.

First, Hong Kong can contribute to building a modernised industrial system and accelerating high-level scientific and technological self-reliance of the country. Leveraging its strong scientific research capabilities and a vibrant innovation and technology ecosystem, Hong Kong will empower various sectors and promote industrial upgrading through “AI+” and “Finance+”.

Mr Chan highlighted that Hong Kong welcomes enterprises to participate in the development of the Northern Metropolis. Specifically, the Hong Kong SAR Government has prepared “preferential policy packages” which offer possible land, tax concessions and financial support. Flexible co-operation models such as co-investment can also be adopted.

Another area is “supporting the country’s development in promoting high-level two-way opening up”. Mr Chan elaborated that Hong Kong, serving as a “super connector” and a “super value-adder”, will provide comprehensive support for Mainland enterprises to go global and for foreign enterprises to enter the Mainland market.

Furthermore, Hong Kong is able to bring together high-calibre talent from across the globe, Mr Chan said, noting that since the end of 2022, Hong Kong has received nearly 600,000 applications for various talent admission schemes, with nearly 280,000 people arriving in the city for work and development.

The finance chief's Beijing visit will continue tomorrow.