Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the Hong Kong FinTech Week x StartmeupHK 2026 today (November 3):
Distinguished guests, ladies and gentlemen,
Good morning. Welcome to day two of the Hong Kong FinTech Week and StartmeupHK 2026. It is my honour to join you all at this premier platform for innovation, technology and partnership today.
As you would all probably agree, translating innovation into business success has become more challenging amid geopolitical complexities, inflationary pressures and global economic uncertainty. To navigate these challenges, companies need a trusted platform, a reliable international hub and world-class professional services to chart their course and expand into new markets. These are exactly the distinctive strengths that Hong Kong offers.
Hong Kong is the freest economy, the largest financial centre in the Asia-Pacific, and one of the most competitive economies in the world. Leveraging our unique advantages under the "one country, two systems" principle, businesses can benefit from a low and simple tax regime, comprehensive professional services, and global connectivity, as well as convenient access to both the Chinese Mainland and international markets.
These advantages are set to be further strengthened by Hong Kong's First Five-Year Plan. The Plan marks a significant step in mapping out the city's development priorities and provides the business community with greater certainty and a clearer strategic direction for further growth.
As set out in the Five-Year Plan, supporting Chinese Mainland enterprises' overseas expansion via Hong Kong is one of our priorities. This initiative is not just about the success stories of enterprises from the Chinese Mainland or Hong Kong, but also about creating job opportunities and direct investment for overseas economies, forging a "triple-win" situation and enhancing regional co-operation.
In October 2025, I set up the Task Force on Supporting Mainland Enterprises in Going Global (GoGlobal Task Force) to support Mainland enterprises in expanding their overseas operations by leveraging Hong Kong's professional services, international talent and extensive global network.
Since its establishment, the GoGlobal Task Force has assisted more than 360 Chinese Mainland enterprises in setting up or expanding their businesses in Hong Kong. Just like today's participants, many of them are innovation and technology (I&T) companies, fintech firms and start-ups.
The GoGlobal Task Force also established a Cross-sectoral Professional Services Platform, through which we connect Hong Kong professional service providers across eight sectors, including financial, legal, accounting, and testing and certification services, with Chinese Mainland enterprises. The platform helps these enterprises access the expertise and resources, enhance corporate governance and meet international standards as they expand overseas.
We also led high-level delegations to connect enterprises with overseas markets and business partners. In June this year, the Chief Executive led a delegation including some 30 Chinese Mainland business delegates to explore the emerging markets of Kazakhstan and Uzbekistan, resulting in fruitful outcomes of 96 co-operation agreements and Memoranda of Understanding (MOUs), with a total value of over US$1.65 billion. Some of the Chinese Mainland delegates have successfully connected with local partners for collaborative projects and commenced their expansion plans in Central Asia.
In August this year, I also led a Chinese Mainland business delegation to Kuala Lumpur to explore opportunities in the Association of Southeast Asian Nations (ASEAN), facilitating the signing of MOUs between delegation members and local enterprises and chambers of commerce.
Going forward, we will further strengthen the work of the GoGlobal Task Force. As announced in the 2026 Policy Address, we will deepen collaboration with trade associations and professional bodies, adding ESG (environmental, social and governance) services as the ninth service category to the Cross-sectoral Professional Services Platform, and enhancing the platform's matching and case-tracking capabilities.
Apart from Finance+ and AI+, global expansion is also one of the themes of this year's FinTech Week. In fact, the Government is expanding Hong Kong's network of free trade agreements and investment agreements to support Hong Kong enterprises and investors in overseas market expansion. For instance, our free trade agreement (FTA) with Peru entered into force this September. We will continue to explore opportunities for new FTAs with other economies.
On investment agreements, following the recent signing of an agreement with Bangladesh, we are working towards signing agreements with Qatar and Peru, negotiating new investment agreements with Saudi Arabia and Egypt, and exploring new investment agreements with Kazakhstan and Uzbekistan.
To complement these agreements, we are also strengthening the network of overseas Economic and Trade Offices (ETOs). With the new Kuala Lumpur ETO in operation now, our four ASEAN-based ETOs will deepen trade and investment promotion across the region. We are also exploring the establishment of a new ETO in Kazakhstan to strengthen our economic ties with Central Asia.
In addition, we are actively pursuing Hong Kong's early accession to the Regional Comprehensive Economic Partnership (RCEP). Following the recent decision to establish an Accession Working Group for applicant economies, including Hong Kong, the Government will actively participate in the upcoming accession negotiations.
Our international partnership goes beyond RCEP. Last month, Hong Kong hosted the APEC (Asia-Pacific Economic Cooperation) Finance Ministers' Meeting for the first time. The meeting brought together hundreds of finance ministers and senior officials for exchanges on financial and economic co-operation, reaffirming Hong Kong's unique role as an international financial centre through APEC China 2026.
As we strengthen our international connections, we are also stepping up economic and trade co-operation with the Chinese Mainland. We are pursuing the comprehensive upgrade of the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) with the Ministry of Commerce, with a view to deepening co-operation with the Chinese Mainland services sector, as well as further expanding market access to the Chinese Mainland. CEPA is nationality-neutral and overseas investors are welcome to leverage CEPA to access the huge Chinese Mainland market through Hong Kong.
Moreover, the Government is accelerating the development of the Northern Metropolis. Through developments such as the Hung Shui Kiu Industry Park, the San Tin Technopole and the Loop, the Northern Metropolis will provide new land and development space for emerging industries, including I&T and fintech. With its strategic location neighbouring Shenzhen, there will also be immense opportunities to tap into the economic development of the Guangdong-Hong Kong-Macao Greater Bay Area. We encourage investors to set a foothold in this new engine for Hong Kong's economic development.
Ladies and gentlemen, the initiatives I have outlined share a common purpose: to enhance Hong Kong's business environment and strengthen its position as an international platform, making it an ideal launchpad for global businesses to thrive and expand. If you are seeking to turn your entrepreneurial ambition into success, I encourage you to leverage today's event to explore new opportunities, exchange ideas and build connections that will fuel your company's next stage of growth.
Lastly, I encourage all eligible voters in the 2026 Election Committee Subsector Ordinary Elections to cast their votes on November 22. I sincerely hope that elected members will actively engage with their sectors, offer views and suggestions, and help the industries seize the opportunities arising from the Five-Year Plan.
Thank you and I hope you enjoy the event today.
Nov32026