HONG KONG, Jan. 22 (Xinhua) -- Three key engines of Hong Kong's economic growth -- finance, trade and sci-tech innovation -- will keep humming in the future, said Paul Chan, financial secretary of the Hong Kong Special Administrative Region government, at the World Economic Forum's annual meeting in Davos, Switzerland on Wednesday local time.
Noting that breakthroughs in technologies such as artificial intelligence and blockchain are driving profound industrial transformation and economic growth, Chan said in a keynote speech that Hong Kong is actively exploring and piloting initiatives in financial and technological innovation.
Chan said that Hong Kong is a worthwhile investment destination, given its close collaboration with neighboring cities in the Guangdong-Hong Kong-Macao Greater Bay Area, which are known for their robust innovation and technology industrial chains.
Regarding international trade, Chan highlighted the ongoing paradigm shift away from the traditional model of producing and exporting low-cost goods, which was once dominant among developing economies.
China, a case in point, is advancing high-level and two-way opening-up and is gravitating towards expanding domestic demand to bolster the economy. This has injected momentum into the country's high-quality development, and created vast market opportunities for quality goods and services from across the globe, Chan noted. ■
