Chief Executive John Lee said that Hong Kong will experience a series of wonderful events in 2025 at a press conference today (Jan. 14).

"One of the wonderful things is that our pair of giant panda babies born in Hong Kong are about half a year old and will be able to meet the public next month," he noted.

Lee also said that Hong Kong's largest sports infrastructure project, the Kai Tak Sports Park, will officially open in March, becoming a major cornerstone for sports, entertainment, tourism, and economic events in Hong Kong.

Other "wonderful events" include the first batch of residents moving into the Light Public Housing in the first quarter, the gradual opening of the Chinese Medicine Hospital by the end of 2025, and the expected entry of the first batch of tenants into the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone in the second half.

Lee mentioned that the Asian Financial Forum 2025 opened successfully yesterday (Jan. 13), with about 3,600 participants from 50 countries and regions in attendance, including 130 government, business, and academia speakers.

He highlighted that this year's forum introduced a new session focusing on the Gulf Cooperation Council, allowing participants to interact with Islamic financial leaders, enhance market understanding, seek cooperation opportunities, and strengthen Hong Kong's pivotal role as a highly internationalized hub connecting Eastern and Western markets.

Furthermore, the People's Bank of China, together with the Hong Kong Monetary Authority (HKMA), announced a series of measures through the forum, including the introduction of the HKMA RMB Trade Financing Liquidity Facility, the expansion and optimization of the Bond Connect and Southbound programs, the launch of offshore RMB repurchase transactions using bonds as collateral through Bond Connect, and the interconnection of the two regions' fast payment systems.

Lee expressed heartfelt gratitude for the central government's support for Hong Kong's development. He believes that these measures can enhance liquidity in Hong Kong's offshore RMB market, inject new momentum into the development of the Hong Kong bond market, further deepen the interconnection between Hong Kong and mainland financial markets, and strengthen Hong Kong's position as an international financial center and a global hub for offshore RMB business.

He also mentioned that Hong Kong's status as an international financial center is widely recognized internationally. The International Monetary Fund conducted the 2024 Article IV consultation on the Hong Kong Special Administrative Region, with preliminary conclusions acknowledging Hong Kong's steady economic recovery. The government and financial regulatory institutions were praised for their efforts in establishing a vibrant and well-regulated digital financial ecosystem, actively promoting green and sustainable finance, and reaffirming Hong Kong's position as an international financial center.

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