Labour Party Talks with Paul Chan Highlight Hong Kong's Role in Global Economy

Friday, 27 September 2024, 07:41

Labour party officials, including Tulip Siddiq and Andrew Bailey, engage with Hong Kong’s Paul Chan during his London visit to emphasize Hong Kong's economic stature. Discussion centers on trade ties, investment confidence, and Hong Kong’s position as a financial hub. Key developments include Hong Kong's recovery in IPOs and a commitment to maintain its unique economic identity amidst changing global dynamics.
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Labour Party Talks with Paul Chan Highlight Hong Kong's Role in Global Economy

UK Labour Party officials met with Hong Kong's Financial Secretary Paul Chan in London, focusing on economic ties and Hong Kong's future as a global financial center.

Key Discussions with UK Officials

During this meeting, Chan connected with Economic Secretary Tulip Siddiq and Bank of England Governor Andrew Bailey, shedding light on recent economic developments.

Hong Kong's Economic Resilience

  • Chan emphasized Hong Kong's rising initial public offerings, with over 100 companies planning to list.
  • He stated, “Hong Kong is not, and never will be, ‘just another Chinese city’,” reaffirming its unique economic role.
  • Confidence in the local economy is reflected in a 4% increase in bank deposits this year.

Strengthening International Confidence

  1. Officials noted the city’s third-place ranking in the Global Financial Centres Index.
  2. Chan defended the independent judiciary amidst criticism, citing that seven overseas judges remain active.
  3. Continuous support for the common law system and free flow of investments was highlighted as essential.

Looking Ahead

As Chan heads back to Hong Kong, discussions about maintaining its status as a trusted hub for international investors remain a priority, amid broader negotiations with Beijing for enhanced trade connections.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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