Hong Kong records higher rating in Global Financial Centres Index and maintains third place globally

Source: Hong Kong Government special administrative region

     Z/Yen from the United Kingdom and the China Development Institute from Shenzhen published the Global Financial Centres Index (GFCI) 39 Report today (March 26). Hong Kong’s overall rating increased further by one point to 765, maintaining third place globally and first place in Asia Pacific. The rating gaps with first place (New York) and second place (London) were only two points and one point respectively.

     A Government spokesman said, “The report reaffirms Hong Kong’s leading position and strengths as an international financial centre. Hong Kong continued to rank first globally in fintech offerings. In the assessment by practitioners in various financial industry sectors, Hong Kong’s rankings generally improved. Notably, Hong Kong’s rankings in the ‘banking’ and ‘finance’ sectors leapt to first place worldwide. Hong Kong continued to top the global ranking in the ‘insurance’ sector, while the ranking in the ‘investment management’ sector rose to second place globally. In addition, Hong Kong’s rankings in the five areas of competitiveness, namely ‘business environment’, ‘human capital’, ‘infrastructure’, ‘financial sector development’ and ‘reputational and general’, continued to stay among the global top three positions.”

Speech by CE at CLP’s 125th Anniversary Cocktail Reception (English only)

Source: Hong Kong Government special administrative region

Speech by CE at CLP’s 125th Anniversary Cocktail Reception (English only) (with video) 
Sir Michael Kadoorie (Chairman of CLP Holdings Limited), distinguished guests, ladies and gentlemen,
 
      Good evening. It is a great pleasure to join you for this special evening marking CLP’s 125th anniversary. One hundred and twenty-five years is not just a milestone. It is a story. A story of shared growth with Hong Kong, of powering our homes, our businesses, our infrastructure, and, of course, our future.
 
      Since its earliest days, CLP has been a key partner in building the energy infrastructure that supports our daily lives and drives our economic vitality. Today, as we build on our status as an international financial, shipping and trade centre, and as an international aviation hub – while developing into new roles, including that of an innovation and technology hub – CLP continues to play a vital role in powering our progress.
 
      And that progress must be sustainable. Our commitment to attaining “net-zero” before 2050, and ceasing the use of coal for daily electricity generation by 2035, reflects our determination to build a greener future. With the continued support of our power sector, that is exactly what we will do. We will transform Hong Kong into a greener, more sustainable city.
 
      That commitment is already taking shape. The Clean Energy Transmission System will be upgraded this year, and we are also planning ahead to strengthen our capacity to receive and process more zero-carbon electricity from our country, China. Our goal is to raise the share of zero-carbon energy in our fuel mix to around 60 to 70 per cent by 2035.
 
      As we green our energy mix, we must also ensure that our energy supply remains reliable, safe, and affordable. CLP has worked tirelessly to keep our grid secure for decades. The successful operation of Hong Kong’s first Offshore Liquefied Natural Gas Terminal since 2023 has further strengthened our energy security.
 
      This solid foundation prepares us for tomorrow’s priorities, including the Northern Metropolis. Covering around one‑third of Hong Kong’s total area, this new growth engine requires forward‑looking infrastructure. And CLP’s support, surely, will be essential in planning the power infrastructure the Northern Metropolis will need as the Government drives forward its development.
 
      That same forward-looking mindset is transforming our city on every scale. On our streets, the shift is unmistakable. Seven out of 10 newly registered private cars are now electric. CLP’s continued efforts to expand the charging network are helping to drive the green motoring transition forward.
 
      The same innovative spirit drives our exploration of new frontiers in clean energy. Following the Government’s Strategy of Hydrogen Development in Hong Kong, CLP has embarked on a trial blending hydrogen with natural gas at the Black Point Power Station. This initiative will help pave the way for the potential use of green hydrogen in power generation in the future.
 
      Yet infrastructure alone is not enough. A sustainable energy future must also be inclusive, because energy is ultimately about people. I am glad to see CLP’s longstanding commitment to the community. There is the Community Energy Saving Fund, which helps households and businesses upgrade to more energy-efficient appliances. And there is the CLP Volunteer Team, one of the largest corporate volunteer teams in Hong Kong, reaching out to the elderly and vulnerable with care and support. That is the mark of a company that lives its social purpose.
 
      Ladies and gentlemen, this evening is more than a celebration of years gone by. It is about a story that began 125 years ago and is still being written. A story of shared growth that continues to power Hong Kong’s development. From powering our present to supporting our green transition, CLP has been part of our city’s journey. I am confident it will continue to play a constructive and positive role in the chapters ahead.
 
      My warmest congratulations to everyone at CLP on this remarkable anniversary. I look forward to our continued work together in building a better, greener, and even more vibrant Hong Kong. Thank you.
Issued at HKT 18:00

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External merchandise trade statistics for February 2026

Source: Hong Kong Government special administrative region – 4

The Census and Statistics Department (C&SD) released today (March 26) the external merchandise trade statistics for February 2026. In February 2026, the values of Hong Kong’s total exports and imports of goods both recorded year-on-year increases, at 24.7% and 29.9% respectively. 

Due to the difference in timing of the Chinese New Year holidays, it is more appropriate to analyse the trade figures for January and February taken together in making year-on-year comparison.

Taking January and February of 2026 together, the value of total exports of goods increased by 29.6% over the same period in 2025. Concurrently, the value of imports of goods increased by 34.1%. A visible trade deficit of $79.0 billion, equivalent to 7.8% of the value of imports of goods, was recorded in the first two months of 2026.

In February 2026, the value of total exports of goods increased by 24.7% over a year earlier to $408.8 billion, after a year-on-year increase by 33.8% in January 2026. Concurrently, the value of imports of goods increased by 29.9% over a year earlier to $472.9 billion in February 2026, after a year-on-year increase by 38.1% in January 2026. A visible trade deficit of $64.2 billion, equivalent to 13.6% of the value of imports of goods, was recorded in February 2026.

Comparing the three-month period ending February 2026 with the preceding three months on a seasonally adjusted basis, the value of total exports of goods increased by 15.8%. Meanwhile, the value of imports of goods increased by 17.7%.

Analysis by country/territory

Comparing February 2026 with February 2025, total exports to Asia as a whole grew by 23.4%. In this region, increases were registered in the values of total exports to most major destinations, in particular Malaysia (+121.9%), Singapore (+69.8%), Thailand (+36.9%), Taiwan (+33.4%) and Chinese Mainland (the Mainland) (+21.9%).

Apart from destinations in Asia, increases were registered in the values of total exports to most major destinations in other regions, in particular Switzerland (+78.9%), the Netherlands (+68.3%) and the USA (+38.8%).

Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular the United Kingdom (+230.6%), India (+130.8%), Korea (+113.6%), Vietnam (+71.6%), Malaysia (+31.1%) and the Mainland (+28.2%).

Comparing the first two months of 2026 with the same period in 2025, increases were registered in the values of total exports to most major destinations, in particular Malaysia (+95.2%), Taiwan (+60.4%), the United Arab Emirates (+54.2%), Singapore (+46.7%), Thailand (+33.9%) and the Mainland (+31.6%).

Over the same period of comparison, increases were registered in the values of imports from most major suppliers, in particular the United Kingdom (+134.8%), India (+128.2%), Vietnam (+100.5%), Korea (+93.3%) and the Mainland (+38.0%).

Analysis by major commodity

Comparing February 2026 with February 2025, increases were registered in the values of total exports of most principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $48.9 billion or +30.8%), “telecommunications and sound recording and reproducing apparatus and equipment” (by $13.9 billion or +41.5%) and “non-ferrous metals” (by $9.1 billion or +289.4%). 

Over the same period of comparison, increases were registered in the values of imports of some principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $48.9 billion or +30.5%), “non-ferrous metals” (by $24.3 billion or +474.8%) and “telecommunications and sound recording and reproducing apparatus and equipment” (by $23.8 billion or +67.6%).

Comparing the first two months of 2026 with the same period in 2025, increases were registered in the values of total exports of most principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $120.2 billion or +35.3%) and “telecommunications and sound recording and reproducing apparatus and equipment” (by $38.1 billion or +47.6%).

Over the same period of comparison, increases were registered in the values of imports of most principal commodity divisions, in particular “electrical machinery, apparatus and appliances, and electrical parts thereof” (by $125.2 billion or +37.9%), “telecommunications and sound recording and reproducing apparatus and equipment” (by $58.0 billion or +74.4%) and “non-ferrous metals” (by $31.9 billion or +296.7%).

Commentary

A Government spokesman said that merchandise exports continued to show strong performance in early 2026. Taking the first two months of 2026 together to remove the effect of the different timing of the Chinese New Year compared with last year, the value of merchandise exports surged by 29.6% over a year earlier. Exports to most markets and of most major commodities continued to increase markedly.

Looking ahead, global demand for AI-related electronic products should remain vibrant, rendering support to Hong Kong’s merchandise trade performance. Yet, uncertainty surrounding the global economic outlook has increased markedly of late amid the heightened geopolitical tensions in the Middle East. Shifts in trade policies among major advanced economies have also posed another source of lingering uncertainty. The Government will continue to monitor the developments closely and remain vigilant.

Further information

Table 1 presents the analysis of external merchandise trade statistics for February 2026. Table 2 presents the original monthly trade statistics from January 2023 to February 2026, and Table 3 gives the seasonally adjusted series for the same period.

The values of total exports of goods to 10 main destinations for February 2026 are shown in Table 4, whereas the values of imports of goods from 10 main suppliers are given in Table 5.

Tables 6 and 7 show the values of total exports and imports of 10 principal commodity divisions for February 2026.

All the merchandise trade statistics described here are measured at current prices and no account has been taken of changes in prices between the periods of comparison. A separate analysis of the volume and price movements of external merchandise trade for February 2026 will be released in mid-April 2026.

The February 2026 issue of “Hong Kong External Merchandise Trade” contains detailed analysis on the performance of Hong Kong’s external merchandise trade in February 2026 and will be available in early April 2026. Users can browse and download the report at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1020005&scode=230).

Enquiries on merchandise trade statistics may be directed to the Trade Analysis Section of the C&SD (Tel: 3863 2592).

Income and asset limits for public rental housing for 2026/27

Source: Hong Kong Government special administrative region

Income and asset limits for public rental housing for 2026/27 
     The Hong Kong Housing Authority (HA)’s Subsidised Housing Committee (SHC) today (March 26) discussed the outcome of the review of income and asset limits for public rental housing (PRH) for 2026/27, and endorsed the proposed income and asset limits for applicants of different household sizes. The adjusted limits will take effect from April 1, 2026 (as detailed in the Annex).
 
     “The PRH income and asset limits are reviewed annually according to the established mechanism. In accordance with the current formula, the SHC endorsed adjusting the PRH income for 2026/27 upwards for all household sizes by an average of 2.8 per cent overall. In addition, the SHC also endorsed adjusting the PRH asset limits upwards by 1.4 per cent for all household sizes in accordance with the established mechanism,” a spokesman for the HA said.
 
     PRH income limits are derived using a household expenditure approach, which consists of housing costs and non-housing costs, plus a 5 per cent contingency provision. Housing costs, which measure the costs of renting a private flat of comparable size to PRH, depend on the unit rents of private accommodation per square metre and reference flat sizes (i.e. average space of flats allocated to PRH applicants in the past three years). Non-housing costs are determined with reference to the results of the latest Household Expenditure Survey conducted by the Census and Statistics Department, and adjusted in the intervening years by the latest movement in the Consumer Price Index (CPI)(A) (excluding housing costs), or the change in the nominal wage index as the income factor, whichever is higher. As regards the PRH asset limits, they are adjusted with reference to movements in the CPI(A) over the year.
Issued at HKT 15:35

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Hong Kong Customs raids suspected illicit cigarette and alternative smoking product storage centre in Kwai Chung

Source: Hong Kong Government special administrative region

Hong Kong Customs raids suspected illicit cigarette and alternative smoking product storage centre in Kwai Chung (with photo)      
     Customs officers searched a suspicious unit in an industrial building on Tai Lin Pai Road, Kwai Chung at noon yesterday and found the batch of suspected illicit cigarettes and suspected alternative smoking products therein. A 34-year-old man, who claimed to be unemployed and is suspected to be connected with the case, was arrested at the scene.
          
     The case is still under investigation. The arrested man has been released on bail pending further investigation. Customs will continue to trace the source of the illicit cigarettes and alternative smoking products. The likelihood of further arrests is not ruled out.
          
     Customs will continue its risk assessment and intelligence analysis for interception at source, as well as through its multipronged enforcement strategy targeting storage, distribution and peddling to spare no effort in combating illicit cigarette activities.
      
     Customs stresses that it is an offence to buy or sell illicit cigarettes. Under the Dutiable Commodities Ordinance, any person who deals with, possesses, sells or buys illicit cigarettes commits an offence. The maximum penalty upon conviction is a fine of $2 million and imprisonment for seven years.
      
     Moreover, under the Smoking (Public Health) Ordinance, no person may promote, manufacture, sell, or possess for commercial purposes alternative smoking products. An offender is liable to a fine of $50,000 and imprisonment for six months.
      
     Members of the public may report any suspected illicit cigarette activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hkIssued at HKT 15:20

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DH reminds public to take precautions against infectious diseases when travelling or gathering as long holiday approaches

Source: Hong Kong Government special administrative region

DH reminds public to take precautions against infectious diseases when travelling or gathering as long holiday approaches      
Mosquito-borne diseases
——————————
 
     As the weather gradually warms up, the environmental conditions become favourable for mosquito breeding. During the Ching Ming Festival, people will spend more time outdoors when visiting cemeteries and columbariums to pay respects. Grave sweepers should take proper precautions against mosquito bites, including wearing loose, light-coloured and long-sleeved tops and trousers as well as using DEET-containing insect repellent on exposed parts of the body and clothing. After paying their respects, grave sweepers should also clean out incense burners and other containers, and remove standing water and trash to prevent mosquitoes from breeding. 
      
     Moreover, mosquito-borne diseases continue to spread in many regions worldwide. Dengue fever is prevalent in many neighbouring tourist destinations. Last year, Indonesia, India and Vietnam each recorded over 120 000 cases, while Malaysia and Thailand each recorded over 50 000 cases. Singapore recorded more than 4 000 cases. Regarding chikungunya fever (CF), from early 2025 to December 10, more than 40 countries/regions worldwide, including those in the Americas, Africa, Asia and Europe, recorded a total of 502 264 CF cases and 186 associated deaths.
      
     Preventing mosquito breeding and avoiding mosquito bites are the best ways to prevent mosquito-borne diseases such as dengue fever and CF. Members of the public planning to travel during the Easter holidays should be aware of the situation of mosquito-borne diseases at their destinations and take proper mosquito prevention measures. Those returning from affected areas should continue to use insect repellent for at least 14 days after arrival in Hong Kong.
 
Acute gastroenteritis, norovirus infection and food poisoning
————————————————————
 
     Norovirus can cause acute gastroenteritis (AGE). In general, norovirus is more active during the period from winter to early spring (around December to March). Norovirus is highly contagious and individuals may become infected after being exposed to even a small amount of norovirus. The virus can be transmitted through various means, such as eating contaminated food, contacting the vomit or excreta of infected persons, or contaminated objects. It may lead to a large-scale outbreak.
      
     Between mid-January and February this year, there was a significant increase in cases of norovirus food poisoning linked to the consumption of raw oysters in Hong Kong. Although the number of cases has declined this month, the public should remain vigilant during holiday gatherings and avoid eating raw oysters or undercooked bivalve shellfish as far as possible, particularly pregnant women, young children, the elderly, people with weakened immune systems and those with liver disease, in order to prevent infection.
          
     Apart from food poisoning, norovirus is one of the main causes of AGE. The number of local AGE outbreaks has continued to rise over the past four weeks (from February 22 to March 21), with a total of 24 outbreaks reported in institutions and schools and one on a cruise ship during this period, involving a total of 333 people. According to the CHP’s sentinel surveillance data, the AGE activity level remains high in Family Medicine Clinics and private medical practitioner clinics. Although the norovirus activity in neighbouring regions (including Japan and Korea) has decreased compared to the beginning of the year, it remains at a relatively active level overall.
  
     To prevent food poisoning and AGE, apart from maintaining good personal hygiene, all food should be thoroughly washed and cooked before consumption. Before handling or eating food and after using the toilet, members of the public should wash their hands with liquid soap and water, and rub for at least 20 seconds, rinse thoroughly and dry with a disposable towel or hand dryer. Since alcohol is not effective in killing norovirus, alcohol-based handrubs are not a substitute for handwashing with soap and water.
     
Seasonal influenza and COVID-19
——————————————-
 
     During long holidays, as cross-boundary travel and gatherings with family and friends become more frequent, the risk of transmission of various respiratory infectious diseases also increases. Regarding seasonal influenza, influenza B proportions have recently increased in many parts of the world. Although local influenza activity remains at a low level, the proportion of influenza B among positive respiratory specimens has surged from around 6 per cent in late January to 50 per cent recently, replacing influenza A (H3) as the predominant circulating seasonal influenza virus circulating in Hong Kong. The CHP cannot rule out that the influenza activity may still fluctuate.
 
     Receiving a seasonal influenza vaccination (SIV) remains the most effective way to prevent seasonal influenza and its complications. Vaccinations also reduce the risk of hospitalisation and death from infection. The public should receive a vaccination as soon as possible regardless of staying locally or planning to travel abroad. All individuals aged 6 months or older, except those with known contraindications, should act promptly if they have not yet received a SIV for this season, including those who contracted influenza in the past few months, in order to safeguard personal health.
 
     Regarding COVID-19, there are generally periodic upsurges in activity level in Hong Kong approximately every six to nine months. As over eight months have passed since the end of last periodic upsurge of COVID-19 activity in late June last year, it cannot be ruled out that Hong Kong may experience another periodic upsurge in the next few months. Members of the public should receive a COVID-19 vaccine in a timely manner to reduce the risk of serious illness and death due to COVID-19. Under the current Government’s COVID-19 Vaccination Programme, individuals aged six months or above are eligible for free initial vaccine doses. High-risk priority groups can receive booster doses for free at least six months after the last dose or COVID-19 infection (whichever is later), regardless of the number of doses received previously.
  
     To prevent respiratory diseases, members of the public should maintain good personal, hand and environmental hygiene at all times. Members of the public with respiratory symptoms, even if the symptoms are mild, should wear a surgical mask, avoid crowded places and seek medical advice promptly. They should maintain hand hygiene before putting on and after removing a mask.
 
Meningococcal infection
——————————
 
     There has recently been an outbreak of invasive meningococcal infection in Kent, the United Kingdom (UK). As of 12.30pm on March 24 (UK time), there have been at least 22 suspected and confirmed cases, two of whom have died. The cases have primarily affected young people, some of whom being students at the University of Kent, as well as individuals who have visited a local club called “Club Chemistry”. According to scientific literature, there is a higher risk of transmission or outbreak of meningococcal infection in crowded settings, including university or staff dormitories.
      
     High-risk individuals, including long-term travellers and those studying abroad, should receive meningococcal vaccinations in a timely manner, per the recommendations by the health authorities in the destination country, in order to safeguard personal health. As the Easter holiday approaches, some overseas students will be returning to Hong Kong. Members of the public who develop symptoms of meningococcal infection, including high fever, severe headache, stiff neck followed by drowsiness, vomiting, fear of bright light, or rash, should seek medical advice as soon as possible. The public should also avoid close contact with patients and maintain good personal hygiene to minimise the risk of infection.
 
Measles
———–
 
     Measles outbreaks are currently occurring in many regions around the world. North America (including the United States, Canada and Mexico) and Southeast Asia (including Indonesia, Cambodia and the Philippines) have seen persistent measles outbreaks in recent years due to low vaccination coverage rates. In the first three months of this year, about 1 500 cases have been recorded in the United States, a figure far higher than during the same period last year. In Europe, the number of measles cases in the UK and Italy has increased recently, with 270 and 84 cases recorded respectively since January this year. In Asia, the incidence of measles remains high in the Philippines, Indonesia and Cambodia. Japan has also seen a substantial rise in cases this year, with 100 cases recorded as of March 11, which is higher than in the same period for the past six years. Singapore and Australia have reported 21 and 78 measles cases respectively this year, also higher than in the same period last year. Most of the overseas cases have affected people who were not vaccinated against measles or had an unknown vaccination status, which highlights the importance of maintaining a high vaccination rate and herd immunity within the community.
 
     For those who plan to travel to measles-endemic areas, they should check their vaccination records and medical history as early as possible. If they have not been diagnosed with measles through laboratory tests and have never received two doses of measles vaccine or are not sure if they have received a measles vaccine, they should consult a doctor for vaccination at least two weeks prior to their trip. Pregnant women and women preparing for pregnancy who are not immune to measles or rubella as well as children aged under 1 year who are not due for the first dose of the measles, mumps and rubella combined vaccine under the Hong Kong Childhood Immunisation Programme are advised not to travel to places with outbreaks of measles or rubella. The incubation period of measles is seven to 21 days. Symptoms include fever, skin rash, cough, runny nose and red eyes. If travellers returning from places with high incidence or outbreak of measles develop symptoms of measles, they should wear a surgical mask, stay home from work or school, avoid crowded places and contact with people without immunity, especially those with weak immune systems, pregnant women and children under 1 year old, and seek medical advice immediately.  
 
     Members of the public may visit the DH’s Travel Health Service webpageIssued at HKT 14:39

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Speech by FS at Hong Kong Climate Week 2026 (English only)

Source: Hong Kong Government special administrative region

     Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Climate Week 2026 today (March 26):

Professor Zhang Xiang (President and Vice-Chancellor of the University of Hong Kong (HKU)), Professor Gong Peng (Vice-President and Pro-Vice-Chancellor (Academic Development) of HKU), Dr Dai Fan (Senior Fellow of the Kennedy School of Government, Harvard University), scholars, distinguished guests, ladies and gentlemen,

Hong Kong Customs seizes suspected cannabis buds worth about $3.4 million at airport

Source: Hong Kong Government special administrative region

Hong Kong Customs seizes suspected cannabis buds worth about $3.4 million at airport       
     Customs will continue to apply a risk assessment approach and focus on selecting passengers from high-risk regions for clearance to combat transnational drug trafficking activities.
      
     Under the Dangerous Drugs Ordinance, trafficking in a dangerous drug is a serious offence. The maximum penalty upon conviction is a fine of $5 million and life imprisonment.
      
     Members of the public may report any suspected drug trafficking activities to Customs’ 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hkIssued at HKT 12:41

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Government announces projects under third InnoHK research cluster

Source: Hong Kong Government special administrative region

Government announces projects under third InnoHK research cluster      
     The spokesman for the Innovation and Technology Commission said, “These approved proposals span a range of innovation and technology (I&T) fields, including sustainable development, energy, advanced manufacturing and materials (see Annex). The research and development (R&D) laboratories to be funded will be carried out in collaboration with world-renowned universities and research institutions. Their setting up will not only demonstrate Hong Kong’s robust R&D capabilities and international collaboration network, but also bring tangible benefits to society.”
      
     The ITC will work closely with the participating universities and research institutions to facilitate the smooth implementation of the projects. The R&D centres under this cluster will be established in phases starting in the first half of this year.
      
     InnoHK is a major I&T initiative of the Government to develop Hong Kong as a hub for global research collaboration, with the aim to attract institutions that are among the global top echelon to collaborate with local universities/institutions to set up research centres/laboratories in Hong Kong. It will not only facilitate top-notch universities, research institutes and the industries to collaborate in R&D, but also promote the translation of R&D outcomes into impactful, real-world applications and the development of relevant industries in Hong Kong. Two InnoHK research clusters have already been established, namely Health@InnoHK focusing on healthcare technology, and AIR@InnoHK focusing on artificial intelligence and robotics technologies. The third cluster, namely SEAM@InnoHK, will focus on sustainable development, energy, advanced manufacturing and materials.
      
     For enquiries, please contact the Secretariat of the programme (Tel.: 3690 2544; e-mail: innohk@itc.gov.hkIssued at HKT 11:00

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CE attends plenary of Boao Forum for Asia Annual Conference 2026

Source: Hong Kong Government special administrative region – 4

     The Chief Executive, Mr John Lee, attended the plenary of the Boao Forum for Asia Annual Conference 2026 in Hainan today (March 26). This year marks the 25th anniversary of the Forum, with the theme “Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation”.
 
Member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and Chairman of the Standing Committee of the National People’s Congress, Mr Zhao Leji, delivered a keynote speech at the event. He noted that over the past 25 years, the Boao Forum for Asia, grounded in Asia and oriented to the world, has deepened dialogue and co-operation and built broad consensus, becoming a “golden brand” for promoting exchanges and mutual learning, unity and collaboration in development among Asian countries and the international community. In today’s world, people across countries have a stronger desire for peace and development, and calls for fairness and justice are growing louder.
 
Chairman Zhao stressed that, in the face of changes to the world, to our times and to history, President Xi Jinping has put forward the vision of building a global community of shared future, as well as the Global Development Initiative, the Global Security Initiative, the Global Civilization Initiative and the Global Governance Initiative, pointing the world in the right direction amid the once-in-a-century transformation. He noted that all sides should follow the trend of the times towards peace, development, co-operation and win-win outcomes, work together to build a better home in Asia, and join hands in constructing a global community of shared future. He emphasised the need to reject conflict and confrontation and create a future of peace and tranquillity; reject isolation and exclusion and create a future of co-operation and win-win outcomes; reject power politics and bullying and create a future of fairness and justice; and reject suspicion and discord and create a future of mutual respect and trust.
 
Mr Lee said that Chairman Zhao’s words were truly invaluable. They hit the nail on the head with respect to the current international situation. Under “one country, two systems”, Hong Kong has the distinctive advantages of enjoying strong support of the motherland and being closely connected to the world, making it the only open economy that simultaneously benefits from the strengths of both China and the global community. Amid a complex and volatile external environment, Hong Kong has always firmly upheld free trade and multilateralism, resolutely opposed unilateralism and protectionism, and continuously strengthened its resilience to withstand risks and respond to changing circumstances. As such, it has consistently served as the optimal bridge and platform for foreign enterprises seeking to establish a foothold in the Chinese Mainland market and for mainland enterprises looking to expand overseas. With the continued growth of the national economy, Hong Kong should seize this valuable opportunity and proactively pursue breakthroughs in its development.
 
Mr Lee said that over the past few years, the Hong Kong Special Administrative Region Government has been committed to leading the business sector in exploring markets in the Middle East, Southeast Asia, among others, expanding the landscape for external co-operation. Looking ahead, Hong Kong should direct its focus towards more emerging markets, exploring broader horizons for development. While integrating into and serving the country’s overall development, Hong Kong should continue to deepen international engagement and collaboration, working with Asian countries to solidify the foundation of mutual trust, deepen openness and connectivity, pursue mutual benefit and win-win outcomes, and safeguard peace and stability. In doing so, it will contribute to the steady growth of Asia’s economy and help steer the global economy towards greater inclusiveness, shared benefits and common progress.
 
In addition, Chairman Zhao gave an insightful exposition on the current state of China’s economic development and its future prospects. He noted that China is always committed to growing the economy, improving people’s livelihoods, and, while pursuing its own development, promoting common development among all countries. He pointed out that the outline of the 15th Five-Year Plan sets out the main objectives and major tasks for the country’s development over the next five years, and that China will fully, accurately and comprehensively implement the new development philosophy, accelerate the establishment of a new development landscape, and strive to promote high-quality development.
 
Mr Lee said that Chairman Zhao’s keynote speech conveyed a clear and positive signal: China will further expand high-standard opening up and share opportunities with countries around the world; will continue to boost domestic demand and steadily unlock the dividends of its super-sized market; will remain committed to innovative development and continuously unleash new drivers of growth; will uphold free trade and steadily deepen international co-operation; will stay committed to the rule of law and steadily improve the business environment; and welcomes enterprises from around the world to explore and deepen their presence in the Chinese market, which will remain a fertile ground for foreign investment and business growth for years to come. This fully demonstrates the strong resilience and broad prospects of the Chinese economy, and further strengthens confidence in its future development.
 
Mr Lee said that with the escalation of conflicts in the Middle East and ongoing geopolitical tensions, Hong Kong, as a globally recognised safe harbour for capital stability, possesses a sound financial system and advantages in professional services. It can provide more quality financial services to the business communities of various countries, attract global capital, and jointly pursue high-quality and sustainable development. Amid a complex and severe external environment, Hong Kong should stand firm, proceed with determination, firmly grasp the unique advantages under the “one country, two systems” principle, and make every effort to pursue economic growth, advance development, foster integration, and proactively integrate into and serve the overall national development. The National 15th Five-Year Plan explicitly supports accelerating the development of the Northern Metropolis. Hong Kong will actively advance the preparation of its first five-year plan, steadily progress various development projects, and deepen reforms with a sense of urgency and unwavering determination. Hong Kong will cultivate and strengthen new quality productive forces based on its actual conditions, accelerate the development of an international innovation and technology centre, continuously consolidate and enhance its status as an international financial, shipping and trade centre, and focus on building an international hub for high-calibre talent.
 
Mr Lee also mentioned that Hong Kong will fully harness the latest frontier technologies and artificial intelligence, continue to invigorate market vitality, advance the development of the Northern Metropolis and the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, vigorously promote the high-quality development of the Guangdong-Hong Kong-Macao Greater Bay Area, and deeply align with national strategies. At the same time, Hong Kong will ensure the successful hosting of the Asia‑Pacific Economic Cooperation Finance Ministers’ Meeting, and will continue to strengthen practical co-operation with Asian countries, expand diverse areas of collaboration, jointly explore new paths for development, shape a shared future for Asia, and contribute positively to the country’s economic development as well as to regional prosperity and stability in Asia.
 
Mr Lee returned to Hong Kong today.