Hong Kong has been through unprecedented changes in recent years. Economic turbulence and political tensions within Hong Kong, and between the West and China, have led to uncertainty over the city’s business climate, stability, and relations with the central government in Beijing. As Canada and Hong Kong have long shared strong economic and people-to-people ties, with more than 300,000 Canadians living in the city, the challenges in Hong Kong are acutely felt by Canadians.
Hong Kong’s special status, role, and its position as an international financial centre have been put into question. But, after a 6 per cent drop in GDP in 2020 due to the pandemic, Hong Kong’s economy is forecast to rebound significantly in 2021. This highlights the city’s resilience.
To discuss these and other related issues, we are pleased to welcome Mr. Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region Government who will discuss some of the challenges faced by the city, its role in China’s larger strategy and the opportunities for Canada.