FS eyes more trade and investment in Australia visit
Financial Secretary Paul Chan said Hong Kong has what it takes to be a regional processing hub for Australian exports, ahead of his five-day duty visit down under. The financial chief departed for Sydney on Sunday. He will also visit Melbourne before returning to the SAR on Friday. In his weekly blog, Chan said he hopes to achieve three objectives in his latest trip, with luring investment being top of his agenda. "One of the highlights of this visit is to meet enterprises in the fields of biomedicine, new energy and fintech, and I will promote Hong Kong's strategic advantages and hopefully get them to set up shop in the SAR," he said. Similarly, Chan also hoped to strengthen cooperation in green technology, citing his goal to develop Hong Kong into a "green finance centre" under this year's Budget. The finance chief also noted that Hong Kong imported HK$14.8 billion worth of Australian goods last year, including fresh produce, seafood and wine. Australia is now the city's second-largest source of imported wine by value, and the largest by volume. "Hong Kong's highly interconnected and accessible air freight network, well-developed storage facilities and efficient customs clearance have made it a cost-effective transshipment hub for high-value goods," Chan explained, adding there is potential to further boost trade. Apart from meeting local business leaders, Chan will also attend an Asia Summit organised by the Australian Financial Review, and deliver a keynote speech.