Hong Kong vows to boost green finance and innovation role for sustainable growth

Hong Kong’s finance chief has pledged to support the regional and global transition to a green economy by leveraging the city’s role as an international financial centre and a developing innovation and technology hub.Speaking at the China-development-forum" class="entity-link entity-event" data-entity-id="51833" data-entity-type="event">China Development Forum in Beijing on Sunday, Financial Secretary Paul Chan Mo-po said Hong Kong could contribute to the irreversible trend of green and low-carbon development, as China demonstrated its determination and leadership in the process.“Hong Kong is a leading international financial centre, while expediting its development as an international innovation and technology hub. We contribute to regional and global green transition from the perspectives of green finance and green technology,” he said at a forum symposium on low-carbon transition and sustainable development.“Hong Kong is a super value-adder in global green transition, as we not only offer capital, but also green standards, technology and solutions.”Chan said the city enjoyed unique advantages supported by its motherland and global links under the “one country, two systems” governing principle, with financial connections between China and the West, and a thriving innovation and technology ecosystem.Paul Chan (second left) speaks at a symposium in Beijing. Photo: HandoutFrom a financial perspective, Chan said the city issued more than US$84 billion in green and sustainable debt in 2024, with green bonds capturing around 45 per cent of the Asian market and ranking first for seven consecutive years.