A pivotal four-day visit by Hong Kong’s Financial Secretary, Paul Chan, from September 25-28, 2024, is set to fortify the economic bridge between Hong Kong and the United Kingdom. This visit, part of a broader mission to enhance cooperation with European businesses, zeroes in on sectors such as financial services and technology innovation.

During his address to around 350 influential figures from the UK's political and business spheres at the annual Hong Kong Dinner, Mr. Chan highlighted the deep-rooted economic and cultural relationships that bind Hong Kong and the UK. He reinforced the commitment to the "one country, two systems" principle, which underlines the unrivaled legal framework of common law, ensuring a vibrant and secure business environment.

Mr. Chan enthusiastically welcomed European professionals and businesses to capitalize on the abundant opportunities available in Hong Kong. Recent legislative changes have made it easier to extend commercial, residential, and industrial leases beyond 2047, signaling robust long-term stability and attractiveness for investors. “Our legal heritage is designed to endure,” he stated.

Furthermore, the absence of various taxes, including capital gains tax and value-added tax, alongside a favorable business climate, signals Hong Kong’s continuous dedication to being a highly attractive hub for investment. Mr. Chan emphasized that the local economy is on an upward trajectory, boasting around 2,700 single family offices and ranking as the world’s fourth-largest IPO market this year, with a thriving innovation and technology ecosystem that is drawing major tech players to the region.

The Financial Secretary expressed his hope to maintain and strengthen connections with various UK sectors to foster mutually beneficial partnerships. As part of the London visit, the delegation will engage in a series of events aimed at showcasing Hong Kong's latest advancements and strategic advantages.

This collaboration promises not just to strengthen ties, but also to unlock a wealth of opportunities for businesses eager to explore new frontiers in Asia’s financial capital. As Hong Kong continues to evolve, it stands as a beacon of growth and innovation on the global stage.