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Ng Kang-chung

Hong Kong will deepen ties with emerging economies worldwide, expanding connections with the Middle East and belt and road countries, from finance to innovation and technology, according to the finance chief.
Financial Secretary Paul Chan Mo-po also said the city aimed to build “networked and institutionalised” connectivity with the Global South – a broad term for developing less-industrialised countries, primarily located in Africa, Asia and Latin America.
Belt and road countries are nations that have signed cooperation agreements or participate in the Belt and Road Initiative, Beijing’s plan to link global economies into a China-centred trading network.
In his weekly blog post on Sunday, Chan cited the country’s 15th five-year plan, writing: “The nation’s steadfast and all-round support [for Hong Kong] forms the foundation for Hong Kong to accelerate its engagement with the Global South.”
The 2026-30 national blueprint pledges support for Hong Kong to develop into an international innovation and technology centre, and to consolidate and enhance its status as a global hub for finance, shipping and trade.
“A broader domain of cross-regional cooperation also includes green transition, which requires alignment of standards and rules,” Chan said.
“Climate change exerts the most direct impact on the Global South, and the substantial financing gap in green transition demands credible standards that allow investors to deploy capital with confidence and precision.”
He noted that green and sustainable bond issuance arranged in Hong Kong totalled US$20.2 billion in the first half of this year, ranking first in Asia for eight consecutive years.
“Capital requires channels, technology requires application scenarios, and rules are the key elements that enable the two to connect. This is another contribution Hong Kong makes to the Global South,” he said.

He stressed the cooperation was mutually beneficial.
“The Global South brings more business opportunities, capital inflows and deeper market liquidity to Hong Kong, while Hong Kong provides substantive and essential support for their development,” he said.
On closer financial ties with the Middle East, Chan noted that Sohar International Bank, the second-largest lender in Oman, had opened its first office outside the Middle East in Hong Kong, becoming the first bank from the sultanate to set up in the city.
The Oman Investment Authority also announced plans to participate in the Hong Kong government’s Innovation and Technology Venture Fund.
Chan highlighted that cooperation between Hong Kong and the Middle East was expanding from “finance into innovation and technology … elevating bilateral economic and investment relations into broader domains”.
Chan also pointed to Hong Kong’s solid research and development capabilities, backed by the strength of the innovation and industrial chain of the Greater Bay Area. The cluster comprises Hong Kong, Macau and nine mainland Chinese cities.
“For partners in the Middle East and Central Asia, this means that Hong Kong offers practical innovation and research capabilities, commercialisation pathways, and high-end industrial capacity.
“When these strengths are combined with the advanced manufacturing capabilities and vast market of Greater Bay Area cities, the outcome is not only commercial returns but also high-quality development that benefits all parties.”


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Hong Kong

Hong Kong Economy

Financial Secretary Paul Chan says city will build ‘networked, institutionalised’ links with emerging economies, from green finance to research and development


Financial Secretary Paul Chan says city will build ‘networked, institutionalised’ links with emerging economies, from green finance to research and development.


Hong Kong to deepen ties with Global South and Middle East, finance chief says

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Financial Secretary Paul Chan says city will build ‘networked, institutionalised’ links with emerging economies, from green finance to research and development

Financial Secretary Paul Chan says city will build ‘networked, institutionalised’ links with emerging economies, from green finance to research and development