FS begins visit to Jakarta, Indonesia (with photos/video)

     The Financial Secretary, Mr Paul Chan, today (January 8) began his visit to Jakarta, Indonesia. He attended the Think Business, Think Hong Kong Symposium organised by the Hong Kong Trade Development Council (HKTDC) in the morning, addressing over 1 500 leaders from the commerce and industry, financial, and innovation and technology sectors in Indonesia and nearby regions to promote Hong Kong's new advantages and new opportunities. 

     Mr Chan noted in his speech that Indonesia's economy has developed rapidly, with an average annual growth rate of 4.2 per cent over the past decade. The youthful labour force, fast-growing middle class, expanding consumer market and rapid urbanisation have made Indonesia an emerging market full of opportunities. 

     Mr Chan said that with the unique advantages of connections to both Mainland China and foreign countries under the "one country, two systems" principle, Hong Kong serves as the "super connector" and "super value-adder". Hong Kong is not only an international financial, shipping and trading centre, and an international hub for high-calibre talents but also a core city of the Guangdong-Hong Kong-Macao Greater Bay Area, making it the most convenient and efficient gateway for Indonesian enterprises to enter Mainland China. 

     In his speech, Mr Chan also highlighted Hong Kong's strengths in financial services and green technology. As a leading global financial centre, Hong Kong has full-chain fundraising capabilities. Through mutual access with the capital markets of Mainland China, Indonesian companies that are listed in Hong Kong can access both Mainland and international funds simultaneously. In light of Indonesia's massive infrastructure investment needs, infrastructure projects in Indonesia can be financed in Hong Kong through various channels such as public listings, issuing bonds, forming real estate investment trusts, bonds, and even securitisation of the projects. In addition, Hong Kong is the world's largest offshore RMB business hub. With the continuous rise in trade between China and Indonesia, Indonesian businessmen holding RMB can take advantage of the various RMB-denominated investment and risk management tools offered by Hong Kong to earn better returns and manage risks effectively. They can also issue RMB-denominated securities in Hong Kong to raise funds to support their business development needs in the mainland. Regarding green and sustainable finance, Hong Kong's relevant standards are highly aligned with international ones, which can support Indonesia and the region's green transformation. Additionally, the Science Park and Cyberport have gathered many green technology companies that can provide innovative green solutions for Indonesian partners.

     Mr Chan also introduced Hong Kong's advantages in high-value supply chain management services. Under the prevailing international political and economic landscape, many companies are seeking to diversify risks by re-aligning their industry and supply chains. They require services such as supply chain management, trade financing, corporate treasury services and professional consulting. As a "super connector" and "super value-adder," Hong Kong is well-positioned to offer these services. Indonesian companies are welcomed to establish their international or regional business headquarters, corporate treasury centres, and supply chain management centres in Hong Kong.

     Organised by the HKTDC, the Think Business, Think Hong Kong Symposium brought together about 120 government representatives, business leaders, start-up representatives and professional service providers from Hong Kong to strengthen commercial connections between Hong Kong and Indonesia. An exhibition zone for professional services and start-ups was set up at the event to showcase products and solutions from Hong Kong companies, facilitating business matching between Hong Kong and Indonesia.

     Afterwards, Mr Chan met with various senior government officials of Indonesia, including the Minister of Finance, Ms Sri Mulyani Indrawati; the Coordinating Minister for Economic Affairs, Dr Airlangga Hartarto; the Minister of Investment and Downstream Industry, Mr Rosan Perkasa Roeslani; and the Deputy Minister of Trade, Ms Dyah Roro Esti Widya Putri. Mr Chan introduced them to the advantages and development opportunities in Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), and the unique role and functions of Hong Kong therein. They discussed strengthening co-operation in bilateral trade, investments, finance and innovation and technology. Mr Chan welcomed them to visit Hong Kong and lead business delegations to Hong Kong and the GBA to explore more business opportunities and strengthen collaboration. 

     In the afternoon, Mr Chan called on the Chinese Ambassador to Indonesia, Mr Wang Lutong, to understand the latest developments on collaboration between the country and Indonesia, and exchange views on strengthening economic and people-to-people relations between Hong Kong and Indonesia.

     Mr Chan had lunch with key members of the China Chamber of Commerce in Indonesia to understand the Indonesian social economic conditions and business environment and their experience in Indonesia, and exchange views on issues of mutual interest.

     This evening, Mr Chan attended the Hong Kong Dinner organised by the HKTDC where he addressed more than 400 Indonesian leaders from commerce and industry to promote Hong Kong in business, culture, tourism and lifestyle.

     Mr Chan will continue his visit to Jakarta tomorrow (January 9). He will depart for Hong Kong in the afternoon local time.