SOURCE: AASTOCKS

CHIEF EXECUTIVE LEE JIA-CHAO SAID AT THE FII PRIORITY ASIA SUMMIT THIS MORNING (7) THAT ALL SUMMITS ARE ANOTHER IMPORTANT STEP IN DEEPENING RELATIONS BETWEEN HONG KONG AND THE MIDDLE EAST, ESPECIALLY SAUDI ARABIA. Hong Kong is currently in formal negotiations on investment promotion and various agreements. Last week, Asia's first Saudi Arabia ETF was officially listed in Hong Kong.

Li noted that Hong Kong is one of the most competitive free economies in the world, and a strong legal system supports Hong Kong. Labour also contributes to Hong Kong's long-standing position as a major international financial centre. Hong Kong has a unique one-country, two-system system that can play a role in connecting the Mainland and the world. Hong Kong will continue to play a part in major global trends.

He said that Hong Kong has financial, innovative and sustainable development and breakthrough solutions in areas such as digital payment technologies. He pointed out that the Hong Kong hub has a lower cost of cross-border payments and aims to enable users to make real-time cross-border payments in a safe and stable environment.

Li noted that starting next year, the government will gradually set up an AI supercomputing center. It will support the huge demand for computing capabilities in R&D and other departments. Artificial intelligence, robotics and healthcare are the main areas of government concern.

He believes that cooperation frameworks will be more defensive through cooperation between governments, businesses and international organizations, and believes that Hong Kong's cooperation in a two-country framework will enable the development of East-West connectivity.

edit/tolk