Paul Chan to make overseas visits in second half of 2024 to explore new markets

Financial Secretary Paul Chan revealed in a blog post today (April 4) that he would visit Europe, the United States, Australia and the Middle East in the second half of the year. Chan said that overseas visits by government officials could consolidate investors and capital in markets traditionally close to Hong Kong and at the same time open up potential new markets and new sources of capital.

Chan said Hong Kong's economy as a whole is currently stable and continues to grow.

"Among the 'three-horse chariot' driving Hong Kong's economy, exports of goods continued to rise by 7.6% year-on-year in the second quarter, while investment spending also rose by 6%, supporting a 3.3% year-on-year growth in GDP in the second quarter of the year... however, changes in the consumption patterns of tourists and the public, as well as the strong Hong Kong dollar exchange rate, and other factors, have exerted pressure on private consumption."

He believes that enterprises can open up new opportunities if they can pool resources, innovate flexibly and even create new business models.

"By seizing the opportunity to stimulate consumption at the right time, such as the recent Olympic Games or various theme-based mega-events, coupled with quality products and services, as well as more publicity and promotions to better satisfy consumers' needs, increase in business volume can be made."