Financial Secretary Paul Chan Mo-po said on Sunday Hong Kong’s progress in promoting the technology sector, attracting businesses and expanding its talent pool has aroused Australia’s interest in seeking a deeper understanding of the Asian financial hub.
He made the remarks in his weekly blog following visits to Melbourne and Sydney, where he met with local leaders in the financial, commercial and technology sectors to promote the advantages of Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area.
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“Through various meetings and discussions, and question-and-answer sessions, we’ve not only deepened mutual understanding, but also explored more potential collaboration opportunities,” he said.
During the visit, Chan met representatives of companies at the forefront of technology, specializing in life sciences, healthcare, biotechnology, financial technology and green energy. For these businesses to further expand their operations, they require broader application scenarios, larger markets and better financing platforms, he said.
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The finance chief updated them on the advantages and cooperation mechanisms in technology and innovation between the Hong Kong Special Administrative Region and its sister cities in the Greater Bay Area, as well as future cross-border cooperation, and Hong Kong’s policies in attracting businesses and talents.
He said Hong Kong’s continuous investment and policy drive in innovation and technology, strong support from the Chinese mainland, and the city’s effectiveness in attracting businesses and talents have drawn increased interest from Australian enterprises.
On the medical front, Hong Kong has a long-term objective of establishing an authority that registers drugs and medical devices under the “primary evaluation” approach. This allows directly approved applications for registration of drugs and medical devices based on clinical data, without relying on other drug regulatory authorities.
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Many life sciences and healthcare enterprises raised questions regarding how to seek a deeper understanding of business opportunities in Hong Kong, according to Chan.
Some companies engaged in financial technology said they intend to send delegations to attend Hong Kong FinTech Week due to be late next month.
The Australian business community is also keen to learn more about the opportunities in the Greater Bay Area -- an economic powerhouse comprising nine cities in the Guangdong province and the Hong Kong and Macao SARs.
The gross domestic product of the Greater Bay Area, which has a population three times that of Australia, reached 14.4 trillion yuan ($2.03 trillion) last year.
