Paul Chan hosts session on 'Spirit of the President's Important Speech', stresses 'people-centered' financial policies

The Financial Secretary, Paul Chan, on Wednesday hosted a session on "Spirit of the President's Important Speech" at the Central Government Offices, with more than 100 senior personnel and representatives of financial regulators as well as colleagues of the Financial Secretary's Office in attendance. With regard to the important speech delivered by President Xi Jinping at the meeting celebrating the 25th anniversary of Hong Kong's return to the motherland and the inaugural ceremony of the sixth-term Government of the Hong Kong Special Administrative Region (HKSAR), Chan shared Chan outlined how President Xi's important speech holds profound historic logic; anchors the historical principle for the implementation of "one country, two systems" in Hong Kong; provides direction for development; and strengthens confidence among all sectors, local and overseas, to keep inseparable faith on the long-term implementation of "one country, two systems" in Hong Kong.

Chan said the "four musts" and the "four proposals" raised by President Xi are the guiding ideology and action plan for fostering Hong Kong's future economic development. He said that the speech by President Xi clearly pointed out that the fundamental purpose of "one country, two systems" is to safeguard national sovereignty, security and development interests of the nation. Financial regulators must keep in mind this principle at all times and safeguard Hong Kong's financial security on all fronts.

He added that the President's important speech elevated the maintenance of Hong Kong's distinctive status and advantages in the implementation of "one country, two systems", with its importance further emphasised. The Central Government fully supports Hong Kong in enhancing its status as an international financial centre, and has pointed out clear positioning for Hong Kong's future development. Financial regulators should thoroughly consider the relationship between a highly efficient market and a capable government, and act proactively to continuously strengthen the impetus of growth of the financial industry. Hong Kong can thus continue to serve as an indispensable gateway and bridge for the country to the outside world, and strive for higher quality and further development of Hong Kong's financial sector and economy.

Chan also stressed that President Xi had asked the HKSAR Government to address people's concerns and difficulties in daily life earnestly. The "people-centred" development concept must always be adhered to in forming, developing and implementing financial policies or initiatives, with a view to allowing the benefits to reach more people and levels.