Paul Chan engages global leaders at Davos to combat emerging economic challenges

Financial Secretary Paul Chan Mo-po addressed the prevention of “a new non-cooperative normal” during his trip to the World Economic Forum Annual Meeting, engaging with over 70 political and business leaders.

The discussion occurred during the Informal Gatherings of World Economic Leaders over lunch on Wednesday (Davos time), where strategies to avert this emerging challenge were explored.

Following the gathering, Chan met with Klaus Schwab, the founder and executive chairman of the World Economic Forum. 

He said the Hong Kong government's commitment to participating in WEF annual meetings, which serve as a vital platform for showcasing the region's economic and social development, as well as its unique advantages.

“[Chan] noted that such participation also enables Hong Kong representatives to better understand international trends, exchange views with various economic and sectoral representatives, and present Hong Kong's perspectives,” said the Financial Secretary's Office.

The office also expressed Chan's willingness to enhance collaboration with the WEF in several areas, including green transition, financial services development, and urban management.

Chan also held discussions with Qatar's Minister of Finance, Ali bin Ahmed Al-Kuwari, and Switzerland's State Secretary for International Finance, Daniela Stoffel, exchanging insights on the global economic and financial landscape.

He also explored the latest business developments of the US cryptocurrency exchange platform Coinbase and introduced Hong Kong's initiatives aimed at strengthening its role as an international risk management center to senior management at Swiss reinsurance company Swiss Re.

(Wallis Wang)