(Yicai) March 24 -- Hong Kong will strengthen its connections with traditional markets such as Europe and the US, while also actively exploring new markets and collaborating with mainland Chinese provinces and cities to attract more overseas investment, the financial secretary of the special administrative region said at the China Development Forum 2025 in Beijing yesterday.

Under the ‘One Country, Two Systems’ framework, Hong Kong has the unique advantage of ‘dual connectivity,’ linking both the domestic and international markets, Paul Chan said at the forum, which ran from March 23 to 24 and was hosted by the Development Research Center of the State Council and organized by the China Development Research Foundation.

China is very supportive of Hong Kong’s aim to build itself into a global hub for finance, shipping and trade, while at the same time promoting technological innovation, talent aggregation, and global cooperation, Chan said. This not only serves China's development but also creates opportunities for businesses around the world.

Hong Kong is the only city in the world that combines China's strengths with international advantages, Chan said. Last year, the number of overseas companies setting up regional headquarters and offices in the SAR hit a record high.

With China pushing for increased foreign trade, Hong Kong is working to maintain its position in traditional markets while actively exploring new ones, Chan said. It is also linking arms with mainland provinces and cities to help Chinese companies expand their global supply chains and develop services such as trade financing and supply chain management.

In the finance sector, Hong Kong boasts a comprehensive fundraising market and high-level financial services, Chan said. It leads Asia in areas such as securities, bonds, and green finance, catering to the needs of global businesses and projects at different stages of development.

In recent years, Hong Kong's capital markets have continued to innovate, steadily deepening its ties with the mainland markets and exploring new funding sources in the Middle East. As a result, the vitality of the financial market and investor confidence are both on the rise.

Looking ahead, Hong Kong will expand the breadth, depth and efficiency of its financial markets, launch new products, attract more capital and foster synergy between finance and real industries, Chan said.

In the field of innovation and technology, especially in artificial intelligence, Hong Kong is building an ecosystem to support the development of tech startups through ‘patient, or long-term, capital,’ he said.

The Hong Kong Investment Corporation is directing market funds toward early-stage, small, long-term and hard-tech projects, so as to cultivate future growth drivers and inject momentum into the region's long-term economic growth. This will allow Hong Kong to play a bigger role in China's overall development while also creating more global collaboration opportunities.

Editor: Kim Taylor