John Lee Ka-chiu and Paul Chan Mo-po's Vision for Enhanced Trade between Hong Kong and Australia
John Lee Ka-chiu and Paul Chan Mo-po Call for Trade Innovation
In a recent visit to Sydney and Melbourne, Financial Secretary Paul Chan Mo-po reiterated the necessity for Hong Kong to diversify its trade with Australia. While current trade is largely focused on traditional products like wine and lobsters, the government is keen to venture into new territories.
Promoting Key Industries
- Biomedicine
- Green Energies
- Fintech
Chan highlighted that these sectors hold tremendous potential for cooperation, suggesting that Australia can benefit significantly from Hong Kong's role as a gateway to China and beyond. He underscored the city’s academic strengths, mentioning that five local universities rank among the top 100 globally.
Strengthening Economic Ties
The visit also aims to fortify logistical connections, as trade has predominantly revolved around agricultural products. With Hong Kong’s advanced logistics services, Chan urges Australian firms to explore the city's capabilities as a distribution hub for high-value products.
Statistics reveal that in 2023, Hong Kong imported HK$14.8 billion from Australia, majorly in the agricultural sector. As both economies recover from the pandemic, leveraging newfound opportunities is crucial for sustained economic growth.
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.