In a significant panel discussion at the World Economic Forum in Davos, Hong Kong’s Financial Secretary emphasized the importance of maintaining the city's currency peg to the US dollar. Paul Chan Mo-po, addressing an audience of global financial leaders, highlighted the longstanding stability this policy has provided over the past decades. He explained that since 1983, this monetary arrangement has been instrumental in fostering a robust and predictable business environment. The absence of exchange controls ensures that capital flows remain unrestricted, which is crucial for sustaining confidence among international investors.

Chan also discussed the broader challenges and opportunities facing Hong Kong's financial sector. As part of a session on mitigating financial fragmentation, he underscored the need for preserving financial stability amid anticipated market volatility. This volatility is partly attributed to changes in the global political landscape, including shifts in US policies under the new administration. However, Chan remained optimistic, pointing out that a recent survey indicated a third of US companies operating in Hong Kong see potential for growth and plan to expand their operations. Such positive outlooks demonstrate the resilience and adaptability of Hong Kong’s economy.

Hong Kong's commitment to financial stability and openness continues to attract businesses from around the world. By upholding policies that ensure transparency and predictability, the city reinforces its position as a leading international financial hub. The discussions at Davos highlight the strategic importance of maintaining these principles, which not only support local economic development but also contribute positively to global financial integration and cooperation.