Chamber Chairman Agnes Chan expresses gratitude to Chief Executive John Lee for his speech at the International Business Summit, alongside (from left to right) Vice Chairman Douglas Woo, Deputy Chairman Guy Bradley, and Vice Chairman PC Yu (right).

“Where there are opportunities, money comes,” Financial Secretary Paul Chan told the packed audience.

Sir Sherard Cowper-Coles, Chairman of the China-Britain Business Council, shared insights from his recent trip to the Mainland and conveyed the views of European politicians and businesses on the growing economies of the Middle East and ASEAN.

In the panel titled “How New Technologies are Reshaping Our Future,” experts explored how technologies such as artificial intelligence, blockchain, and big data are revolutionizing industries like healthcare and education.

Industry experts and thought leaders gathered today at the Hong Kong General Chamber of Commerce’s (HKGCC) International Business Summit to discuss how Hong Kong can navigate the changing global economic landscape. The summit, titled “Shifting Economic Center of Gravity: Hong Kong’s Role,” was opened by Chamber Chairman Agnes Chan.

In her opening remarks, Chan reflected on nearly three decades of progress since the inaugural summit, where then-Financial Secretary Sir Hamish Macleod outlined how Hong Kong could capitalize on opportunities during tough times.

HKSAR Financial Secretary Paul Chan provided an update during the opening keynote, addressing how Hong Kong can thrive in a multi-polar world marked by geopolitical fragmentation, especially in light of Sino-U.S. tensions and the incoming U.S. administration’s promise of higher tariffs. “Where there are opportunities, money comes,” Chan stated, reinforcing Hong Kong’s resilience in the face of these challenges.

In his keynote address, Chief Executive John Lee highlighted Hong Kong’s position as the world’s freest economy among 165 economies in 2023. He underscored the city’s pivotal role as a hub for both international and local businesses seeking growth opportunities in Hong Kong, Mainland China, and the broader region. Lee also outlined the HKSAR Government’s efforts to engage with governments, businesses, and investors in the Middle East and Southeast Asia, reinforcing Hong Kong’s role as a crucial link between East and West in the global marketplace.

The first panel discussion, titled “ASEAN and Middle East: New Engines for Global Growth,” was moderated by Johannes Hack, President of The German Chamber of Commerce in Hong Kong. It explored Hong Kong’s role as a bridge between Asia, China, and the rest of the world as the economic center of gravity shifts eastward. Panelists Gan Khai Choon, Founder and Chairman of The Malaysian Chamber; Benjamin Hung, President of International at Standard Chartered; Iain Lindsay, Advisor to the Bahrain Economic Development Board; and Dee Poon, President of Brands and Retailing at Tessellation Group, examined how the Global South, which represents over 85% of the world’s population, is exerting greater influence on the global economy.

In a dynamic discussion, the panelists emphasized Hong Kong’s unique position as a global city and international financial hub. With its strong infrastructure, diverse talent pool, and solid regulatory framework, Hong Kong acts as a super-connector, facilitating trade and investment between emerging markets and established economies.

In the session titled “How New Technologies are Reshaping Our Future,” experts Iñaki Amate, Chairman of the European Chamber of Commerce in Hong Kong; Anne Kerr, Managing Director for Greater China at Mott MacDonald; Kenny Lam, CEO of Two Sigma Asia-Pacific; and Nisa Leung, Managing Partner at Qiming Venture Partners, discussed the transformative impact of technologies such as artificial intelligence, blockchain, and big data on sectors like healthcare and education. Moderator Brian Wong, Assistant Professor at HKU, facilitated discussions on advancements in biotechnology, data management, and learning experiences, emphasizing the potential of these technologies to drive innovation and generate significant value across various industries.

The panel also addressed challenges arising from rapid technological changes, such as regulatory issues, data privacy concerns, and the need for workforce reskilling. They stressed the importance of collaboration among stakeholders to responsibly leverage technology for future growth.

The summit concluded with a keynote address by Sir Sherard Cowper-Coles, Chairman of the China-Britain Business Council. He shared insights from his recent visit to the Mainland and conveyed the perspectives of European politicians and businesses regarding the emerging economies of the Middle East and ASEAN. In a compelling discussion moderated by former Chamber Chairman YK Pang, they touched on topics ranging from historical perspectives to strengthening China-UK cooperation. Sir Sherard also noted that recent unfounded allegations from U.S. hawks concerning Hong Kong’s financial sector seemed more aimed at provoking a reaction than addressing any legitimate concerns.

HKGCC extends its gratitude to all speakers and guests who contributed to the summit’s success, especially the 15 HKGCC member companies that sponsored the event. Platinum Sponsors: EY, Hactl, and Jardine Matheson; Gold Sponsors: Bank of China (Hong Kong), CK Group, CLP, HSBC, MTR Corporation Limited, New World Development, Sino Group, Standard Chartered, Sun Hung Kai Properties Limited, Swire, Wheelock and Company Limited, and Yue Hwa Chinese Products Emporium Limited.

SOURCE:

https://www.chamber.org.hk/en/media/press-releases_detail.aspx?ID=3793