FS hopes for stronger ties between China, US bay areas
Financial Secretary Paul Chan has told the business community in Berkeley, California that he hopes there will be further financial and technological exchanges between the state's bay area and the Greater Bay Area. His remark came after the Financial Services and Treasury Bureau and the University of Hong Kong both signed a memorandum of understanding with a California-based climate institute to cooperate in areas such as talent exchanges, green fintech and carbon market development.  “I hope, too, that we can encourage financial and technological exchanges. The global gap for green funding and technology is enormous, measured in trillions of US dollars. Let's turn this need into opportunities,” Chan said.  He went on to say that Hong Kong is a great place to do business in Asia, being the "super connector" between China and the rest of the world, and invited US businesses to pay a visit to the SAR to see what is on offer.   Chan also told attendees at a climate event that Hong Kong is committed to a greener future and that the SAR plans to reach carbon neutrality in the coming decades. “Hong Kong is committed to achieving carbon neutrality by 2050. We are adopting a four-pronged strategy to reach neutrality: net-zero electricity generation, green buildings, green transport and waste reduction,” he said. “Indeed, we were among the first cities in Asia to take action against climate change… Our carbon emissions peaked in 2014 and have shown a general downward trend since.”