Xu Zhengyu: Hong Kong will seize the global capital reallocation wave and promote the development of financial technology to lead the way.

Hong Kong Financial Secretary and Treasury Director, Paul Chan, stated that Hong Kong will seize the opportunity of global capital reallocation, consolidate its position as an international financial center, promote financial technology, green and sustainable finance, and seize new growth opportunities to make global financial flows more intelligent and utilize technology to address real-world economic challenges. He pointed out that Hong Kong's claim as a leader in financial technology is not just talk. In the latest Global Financial Center Index, Hong Kong ranks first in "financial technology". Currently, Hong Kong has over 1,100 financial technology companies, and it is expected that by 2032, the total revenue of the financial technology industry will reach $606 billion, with an annual growth rate of 28.5%. In the first half of this year, Hong Kong topped the global rankings in terms of funds raised through IPOs, attracting many advanced technology companies and enterprises to go public. Paul Chan also mentioned that the "Hong Kong FinTech Week x StartmeupHK Entrepreneurship Festival", jointly organized by the Hong Kong Financial Services and Treasury Bureau, the Commerce and Economic Development Bureau, and the Invest Hong Kong, will be held from November 3 to 7. The event is expected to attract participants from over 100 economies, with over 800 speakers and more than 700 exhibitors, totaling over 37,000 attendees. The Director-General of Invest Hong Kong, Stephen Phillips, mentioned that both events have entered their tenth year and serve as excellent platforms for promoting two-way investment flows and facilitating substantive cooperation. This year, the events will involve 30 delegations from international and mainland China, including representatives from key technology hubs such as Beijing and Shenzhen, reflecting Hong Kong's ideal position for putting innovative ideas into practice.